WATERTOWN, Mass. –As 2024 came to a close, so did the 40 years of service by Board Chairman Stepan Kanarian and Treasurer Gary Aprahamian. To allow for the orderly transition of the Board’s Executive, they announced their planned retirement earlier last year, with their leadership roles set to conclude at its first Board meeting of 2025. Additionally, Lucy Hoosian will complete 10 years of valued service on the Board.
At its final meeting in 2024, the Board elected Joe Almasian, Lauren DaSilva and Diana Balekian to fill the Board vacancies. As the Armenian Youth Foundation, Inc. prepares to celebrate its 50th year of incorporation in 2025, Board members Daron Topouzian and Ara Krafian have been appointed as co-directors of financial development. Daron, Ara and the three new members will serve alongside Bob Tutunjian, Hagop Antranigian, Michael Guzelian, Nora Kzirian, Michael Gostanian and Haig Altoonian.
Reflecting on his departure, Kanarian stated, “I am very impressed with the fabric of personalities on this Board along with their individual professional talents, both of which should contribute to their collective success and for the continued fulfillment of the Foundation’s mission of service to Armenian-American youth.”
He added, “I know I speak for both Gary and me when I say how honored we have been to serve alongside so many talented current and former Board members from various communities around New England, the Mid- Atlantic and Midwest, all of who helped accomplish so much as the Foundation grew to what it is today. From the early years, when there were minimal funds to support grant requests, and then periods with low-interest rates, we’ve seen the Foundation evolve into a key supporter of organizations nationwide. It’s rewarding to reflect on the $850,000 we’ve granted to over 125 projects while always preserving our entire Capital Fund.”
Vice Chairman Bob Tutunjian also praised Kanarian’s leadership, saying, “Stepan has led the Board with a steady hand, overseeing the establishment of policies and procedures that have fostered our success. He consistently guided the Board’s careful management of assets, thorough assessment and awarding of grants, and the steady growth of the Foundation’s Capital Fund, which now stands at $758,000. He and Gary both have a lot to do with building our Capital Fund assets, which are now poised to exceed one million dollars.”
The Armenian Youth Foundation, Inc. was incorporated in Massachusetts on December 12, 1974, and has been recognized as a 501(c)(3) organization by the IRS since July 2, 1975. Donations are tax-deductible as charitable contributions. The Foundation builds its Capital Fund through donations and income generation, using its annual net income to support grants for Armenian-American youth organizations and programs. These initiatives include education in Armenian history, language and culture, as well as youth athletic and camping activities.
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Congratulations on a remarkable period of leadership. Our
community functions with service oriented commitment and your dedication is a fine example. Thank you.