The Saint Peter Armenian Church, Van Nuys Endowment Funds were established to meet the long-term financial needs of the parish. A five-member board elected by the Parish Assembly actively manages the funds. The goal is to seek long-term capital appreciation and income. The revenues from these funds help to alleviate the uncertainties of fluctuating income of the Church. As the funds grow, they will generate enough income to finance the spiritual, cultural, youth, and other activities of the Church. See complete list of thirteen funds along with their description and purpose.
Your tax-deductible contribution will help Saint Peter Armenian Church meet its long-term goals. Donations of cash, securities, real estate, and other assets can be accepted. Donors may also designate the Endowment funds in their will or living trust. Your gifts to the endowment funds are a permanent benefit to the Church beyond the confines of a single lifetime. They will insure a stronger and more vibrant Saint Peter for future generations. It is a great way to leave a legacy to our Saint Peter family and support a given cause into perpetuity.
Donors who pledge to contribute $20,000 or more may establish a new fund and designate the name and purpose so long as it benefits Saint Peter Armenian Church.
The earnings are available for various purposes. Parishioners are encouraged to familiarize themselves with the funds and request distributions for qualified purposes.
To make a donation, request a distribution, or for any additional information, contact John Yaldezian at (805) 370-0816 or the church office at (818) 344-4860.
General Endowment Fund – This fund includes gifts of less than $20,000 or any gift without a specific purpose. The net earnings benefit Saint Peter Armenian Church, Van Nuys and are allocated as follows: 30% to the church’s operating account, 30% to be reinvested into the fund and 40% to be used for any purpose designated by the Parish Council and approved by the Parish Assembly.
Alexander Memorial Fund – Net earnings to benefit Saint Peter Armenian Church. Thirty percent to the church's operating account, 30% to be reinvested into the fund, and 40% to be used for any purpose designated by the Parish Council and approved by the Parish Assembly. Administered as part of General fund.
Petoyan Family Fund – Ninety percent of the net earnings can be used by Sunday School to send one graduate per year to Armenia with a diocesan-sponsored program (either Eastern or Western Diocese) the remaining 10% to be reinvested into the fund.
Kandarian Scholarship Fund – Provides scholarship for the benefit of postgraduate students in any field of study. Net earnings shall be paid to or used for the benefit of the students at the discretion of the Fund Administrative Committee, appointed by the church.
Ketchoyan Trust Fund – Principal, earnings and distributions from the Western Diocese Endowment Fund are to be reinvested until both Mr. and Mrs. Ketchoyan pass on, unless both of them or the surviving spouse gives special approval. Upon both of their passing, the net earnings are to be used as operating income of the church or any purpose approved by the Parish Council and the Parish Assembly.
St. Nerses Fund – Created by an anonymous donor. Net earnings to be used for sending ACYO members to St. Nerses for the annual Summer Conferences. The Parish priest will determine the recipients.
Ulis Sekeroglu Fund – Net earnings will go to an orphanage in Armenia or to a needy student as determined by Parish Priest.
Aram Yarmagian Memorial Fund – Net earnings will go to an orphanage in Armenia or to a needy student as determined by Parish Priest.
Tachkapoulian Fund – Net earnings will be used to provide scholarships for Sunday school students to attend Western Diocese Summer Camp. Sunday School board shall select the recipients.
Kegham and Hermine Parunyan Fund – Net earnings will be used solely for expenses involving renovations or reconstructions of any kind that St. Peter Church Parish Council designates.
Martin and Bertha Yacoobian Family Foundation – Net earnings will be used to provide scholarships for Sunday School students to attend the Western Diocese Summer Camp. Sunday School board shall select the recipients.
John and Alice Yaldezian Trust Fund – Net earnings are to be used to assist financially needy St. Peter Sunday School children to attend the Western Diocese Summer Camp. The Sunday School Executive Committee will be responsible for selecting the recipients. If no recipient is selected, or if there is an excess in net earnings, the money shall be given to The Parish Council to be used for church operations.
Greg Boyajian Memorial Fund – Net earnings are to be paid as follows: 50%, to St. Peter ACYO (to be divided equally between the Juniors and Seniors) and 50% to a St. Peter’s parishioner(s) who need(s) financial help with their medical care. The Boyajian Family or their appointed advisors will determine the recipient for the medical award.
Net earnings or net income is defined as interest and dividends (not capital gains) realized by the Fund.
This form is to be used for qualified individuals and organizations seeking to receive disbursements from one of the Funds held under the St. Peter Armenian Church Endowment Fund. The administrator of each Fund should complete this form and return it to the Parish Council. Check will be mailed upon approval by Parish Council. Please contact the Parish Council Chairman or a member of the Investment Committee with any questions.