Financials

Armenia has been forced to face one calamity after the other. First the 44 Day War, then the short war, then the blockade of Artsakh.  To make the situation even more challenging, the dollar has been highly devalued, and inflation has been on the rise.  Amid all this, Orran could not simply stay within the physical walls of our centers.  True to our call, we have been there at all critical times and continue to be there for the families of Armenia and Artsakh.  Within the last three years, we have helped 3000 families of Artsakh.  Now, the need is even greater.  We are grateful to you for making it possible for Orran to be a leading charitable organization in Armenia and we hope  to have your continued support through 2023.

Presented below are Orran’s finances for Armenia alone, followed by a report on our consolidated finances which include Orran Armenia  and Orran USA.

Financial results for 2022 for Orran Armenia show a surplus of expenditure over income equivalent to $39,694 US, at an exchange rate of 385 AMD/US dollars. These financial results refer to the Armenian-registered charity only and exclude the Orran-affiliated institution in the United States which receives donations in the US in addition to the website donations and subsequently transfers funds to Armenia as and when needed.

The Consolidated Management Accounts including donations received in the USA on a cash basis and show a shortfall of income over expenditure of $16,604. This does not compare to an operating surplus of $66,749 in 2021 (510 AMD/US dollars).

Our Operating Costs over the last 3 years amount to $295k, $253k, and $274k in 2020. This equates to $3.8 per beneficiary per day. Our operating surplus/shortage over the last 3 years amounts to a $16k shortfall in 2022, with a surplus of $67k in 2021, and $94k in 2020. In line with past years, we strive to maintain our administration and marketing costs well below 7% of our operating costs.

We are constantly looking for ways to improve our services and to make sure that each $1 is spent in the most efficient way resulting in the greatest benefit. The global financial crisis continues to pose major challenges for securing funds for our operating budgets. At the same time, the number of needy people knocking on our door has increased.

At year end the beneficiaries at our 2 centers included 457 children and 67 elderly, totaling 524. This includes over 230 children supported by grants totaling $132k for vocational/apprenticeship programs. Yerevan center with 149 beneficiaries doesn’t exceed its nominal capacity of 150, and the Vanadzor center with 145 beneficiaries also doesn’t exceed its nominal capacity of 150. With a strong and committed staff in Yerevan and Vanadzor comprising 16 full-time, 19 part-time, and 54 volunteers, Orran looks forward to the coming year for continuing its mission of “helping families in need”, all this depending of course on the continuing generosity of our donors

Overall, despite the global financial crisis, it has again been a satisfactory year for Orran, and for this, we are most grateful to our donors.