A Message from the Board of Trustees

In 1985 a group of community members in Toronto had the foresight to establish an endowment fund to provide a continuous source of financial support for the benefit of the A.R.S. Kololian Elementary & Babayan Kindergarten school. The capital of this growing endowment fund was invested prudently and the investment income transferred to the ARS day school.

Encouraged by the success of this initiative, the Directors of the Armenian Community Center expanded the mandate of this endowment fund. This new fund in addition to the A.R.S. Day School, would also include other Armenian organizations on its list of beneficiaries. The structure of the fund was also revised to allow donors the flexibility of directing the proceeds of their donations to the organization of their choice or a favorite cause.

Thus, in 1997 the Armenian Endowment Fund (AEF) was incorporated in Canada as a legal charitable entity. This year our total fund capital has reached the $12.5 million dollar mark with annual investment proceeds of over $450,000 which is distributed regularly to the beneficiary organizations.

It is with this positive outlook that we present to you our goals and aspirations. Together we can create a solid foundation, and establish a legacy of ongoing financial support to our community and ensure the continued viability and success of the many organizations that are so vital for our existence.

We invite you to join the AEF as donor-members and establish your own legacy of continued financial support to your community and the Armenian nation.

AEF Mission Purpose

  • To solicit, receive, maintain, invest and manage endowment or trust funds and to apply all or parts of the income to support the charitable organizations and the specified purposes by donors.

  • To contribute to the financial stability of the non-profit organizations serving the Armenian community by providing a secure and continued source of revenue.

Accountability

The AEF is governed by an elected Board of Trustees. The trustees are knowledgeable and experienced professional that serve voluntarily and without remuneration.

The Board of Trustees is elected by the membership of the AEF from a list of members nominated jointly by The AEF Board of Trustees and the Executive of The Armenian Community Center of Toronto. The members of the Board of Trustees serve a three-year term.

The members of AEF are its donors. Therefore, the Board of Trustees is fully accountable to its contributing members. The AEF emphasizes full financial disclosure, accountability and careful stewardship of funds. Financial records are reviewed annually by an independent accounting firm and full financial reports are provided to its members and the public.

Our Board of Directors

  • Levon Hasserjian - President

  • Vahan Ajamian - Vice-President

  • Simon Hasserjian - Treasurer

  • Yeran Kassabian - Director

  • Shahen Mirakian -Director

  • Razmig Boghosian - Director