Homenetmen Eastern USA Regional Executive Presents Endowment Fund

May 7, 2019 Homenetmen Eastern U.S. Nonprofit News 0

Homenetmen’s Eastern USA Regional Executive is excited to announce the establishment of the Homenetmen Eastern USA Region Endowment Fund. The Fund is intended to provide a growing financial foundation to further our organization’s mission of establishing programs benefiting Armenian youth. We encourage those who would like to contribute in the pursuit of our goals to consider making a donation to the Endowment Fund.

The Homenetmen Eastern USA Region Endowment Fund is managed by trustees of the Armenian Cultural Association of America (ACAA), Inc. Homenetmen Eastern Region, Inc. and ACAA, Inc. are both incorporated in Massachusetts, and maintain 501(c)(3) status by the IRS. This status allows the opportunity for our organization to be financially supportive through the pursuit of grants to facilitate our mission in its many needs and endeavors. In addition, due to our 501(c)(3) status, donations to Homenetmen Eastern USA Region are tax-deductible.

From the beginning, the mission of Homenetmen has been twofold. First, believing in a “strong mind, strong body” concept, Homenetmen has provided the Armenian youth with a moral, physical and psychological education outside the school environment. Secondly, it has tried to teach the youth the richness of the Armenian culture and heritage, while at the same time, preparing them to become outstanding law-abiding citizens in the countries in which they live.

During the more than 100 years of its existence, Homenetmen has experienced both trial and tribulation, as well as maturity and growth. The establishment that began in 1918 with several chapters in various sections of Constantinople is now a worldwide organization with over 25,000 members on five continents. Through the years, Homenetmen has sponsored numerous international athletic events and tournaments and has held scouting jamborees in England, Greece, Canada, France, Bulgaria, Armenia and the United States. Its success has been made possible because of generous moral and financial contributions of parents, concerned citizens and many charitable organizations throughout the world, who believe in the organization’s cause and have witnessed its many accomplishments.

Since its establishment in 1918, Homenetmen has played an essential role in helping to shape the character and leadership capabilities of generations of Armenian youth. Through its scouting and athletic programs, Homenetmen has preserved the Armenian spirit and addressed the needs of Armenian communities in the Diaspora.

The Eastern USA Region of Homenetmen was established in 1977 with six chapters. It was formally incorporated on March 11, 1983. Today, the region is composed of 10 chapters (Albany, Boston, Chicago, Detroit, Florida, New Jersey, New York, Philadelphia, Providence and Washington, DC) and 2 “miavors” (Charlotte, Greater Merrimack Valley) with over 900 scouts, athletes and members.

Donors interested in contributing to the Endowment Fund can designate a specific purpose or allow for the Fund to be allocated for general use by the organization. According to a donor’s desire, a Trust Agreement is prepared stipulating all the conditions and policies for the operation of the Trust. This document is signed by the donor or the donor’s Representative or Estate, the Regional Executive of Homenetmen Eastern USA and the ACAA Trustees. All parties to this Trust Agreement acknowledge and agree to honor the Terms and Conditions as noted by the donor.

In the case where the Homenetmen Eastern USA Regional Executive are not directed by a bequest for specific designated use, the Regional Executive can create a Trust Agreement surmising the intent assumed by the donor. It is highly recommended that a donor create the Trust Agreement prior to any estate or will bequest.

Full funding does not need to be implemented at the time of creation. For a named Fund, it is recommended that the minimum donation be at least $50,000 but lesser amounts will be given name recognition and invested within the Homenetmen Eastern USA Region Endowment Fund. The Regional Executive, in consultation with legal representatives of the Donor and the ACAA Trustees, can draft the Trust Agreement for a named donor.

In compliance with the requirements of all 501(c)(3) non-profit corporations, Homenetmen Eastern USA Region is audited each year by professional Certified Public Accountants. Their report and Region’s Tax Return is then sent to the Attorney General of the Commonwealth of Massachusetts. After the Massachusetts review, the documents are then forwarded to the U.S. Treasury Department for its audit and review. There is much scrutiny and review of all the activities of Homenetmen. Thus, the donors to the Homenetmen Eastern USA Region Endowment Fund can be assured that the operations and management are in the best fiduciary management available with complete compliance to all regulatory bodies of Federal and State.

We welcome the opportunity to discuss the creation of a Homenetmen Endowment Fund in the name of a donor, their family or other identification. For more information, please contact endowment.eusa@homenetmen.org, or our home office, Homenetmen Eastern USA Region, 80 Bigelow Avenue, Watertown, MA, 02472.

Homenetmen Eastern U.S.

Homenetmen Eastern U.S.

The Armenian General Athletic Union and Scouts, known as "Homenetmen," is a non-profit organization founded over 100 years ago. Believing in the idea that strong bodies lead to strong minds, Homenetmen has provided Armenian youth across the globe with a moral, physical and psychological education outside the school environment, while also demonstrating richness of the Armenian culture and heritage. Today, Homenetmen is a worldwide organization with over 25,000 members on five continents. On the East Coast U.S., Homenetmen is a thriving organization with 12 chapters and over 900 members, governed by the Homenetmen Eastern Regional Executive.

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