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CHARITY REVIEW
Issued: January 2026 Expires: January 2028

Children of Armenia Fund

Accredited Charity
Accredited Charity

Meets Standards
(212) 994-8234
149 Fifth Avenue, Suite 500
New York, NY, 10010
https://coaf.org/
📄 Full Report 🖨️ Print 📋 BBB Charity Standards

Standards For Charity Accountability

Governance

  1. Board Oversight
  2. Board Size
  3. Board Meetings
  4. Board Compensation
  5. Conflict of Interest

Measuring Effectiveness

  1. Effectiveness Policy
  2. Effectiveness Report

Finances

  1. Program Expenses
  2. Fundraising Expenses
  3. Accumulating Funds
  4. Audit Report
  5. Detailed Expense Breakdown
  6. Accurate Expense Reporting
  7. Budget Plan

Fundraising & Info

  1. Truthful Materials
  2. Annual Report
  3. Website Disclosures
  4. Donor Privacy
  5. Cause Marketing Disclosures
  6. Complaints

Children of Armenia Fund meets the 20 Standards for Charity Accountability.

Stated Purpose:
"to help young Armenians living in the country's rural communities define and build their own future with guidance, with an emphasis on education, provided by COAF."

Year, State Incorporated:
2000, NY

Children of Armenia Fund (COAF) reports working with and helping Armenian rural communities, specifically children and their families, though the organization’s Education, Healthcare, Child & Family Services, Economic Development, and SMART Center programs. The SMART centers use technology and project-based learning to teach after-school subjects, while incorporating themes of sustainability and community well-being. The organization reports that their education programming includes English language learning, civic engagement programs, and post-secondary school scholarships and career development programs. Additionally, COAF reports that its healthcare efforts work together with local practitioners, and the organization's education and family programs, to provide access to health education and medical services (including testing, diagnosis, and follow-up care primarily for youth). The organization also connects youth and families from rural areas with an array of social support systems, including social work, psychological, and speech therapy services.

For the year ended December 30, 2024, Children of Armenia Fund's program expenses were:

General $7,288,382
COAF SMART initiatives $1,661,164
Health $1,283,259
Educational $1,052,466
Infrastructure $548,527
Economic development $508,577
Social programs $503,251
Total Program Expenses $12,845,627

Chief Executive
Liana Ghaltaghchyan, Executive Director

Chair of the Board
Garo H. Armen

Chair's Profession / Business Affiliation
Chairman and Chief Executive Officer, Agenus Inc.

Board Size
17

*2024 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.

Note 1: Liana Ghaltaghchyan receives compensation from the related organization, COAF Armenia. In 2024, Ms. Ghaltaghchyan received 38,867 AMD.

Note 2: According to the organization, Haig Boyadjian, Vice President of Development, was the highest paid employee, receiving $100,000 in 2024.

Method(s) Used:
Direct mail appeals, Invitations to fund raising events, Print advertisements (newspapers, magazines, etc.), Grant proposals, Internet, Planned giving arrangements

Fundraising costs were 2% of related contributions. (Related contributions, which totaled $15,091,072, are donations received as a result of fundraising activities.)

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

The following information is based on Children of Armenia Fund's audited financial statements - consolidated for the year ended December 30, 2024.

Source of Funds
Contributions $15,091,072
Interest and other income $451,935
Total Income $15,302,638

Programs: 82% Fundraising: 2% Administrative: 15%

Total Income $15,302,638
Total expenses: $15,624,619
  Program expenses $12,845,627
  Fundraising expenses $368,123
  Administrative expenses $2,410,869
  Other expenses $0
Income in Excess of Expenses $-321,981
Beginning Net Assets $16,275,862
Other Changes In Net Assets $0
Ending Net Assets $15,953,881
Total Liabilities $22,219,619
Total Assets $38,173,500

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.

This report is not to be used for fundraising or promotional purposes.

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Report completed by:
BBB Wise Giving Alliance