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About Us - Frequently Asked Questions
How did Armenia Fund USA begin?
Armenia Fund USA was founded in 1992
as part of the Hayastan All-Armenian Fund, and was exclusively created for funding
large-scale infrastructure, development and humanitarian projects in Armenia and
Karabakh.
How successful has Armenia Fund USA been?
Extremely. In one short decade, Armenia Fund USA has raised over $18.2 Million and participated
in or implemented ten projects ranging from the principal K-12 school in Vanadzor
to the East-West Highway linking Armenia and Karabakh. Armenia Fund USA and
the Hayastan All-Armenia Fund have built over 137 miles of roads, 81 miles of
waterways, 36 schools, 3 electric transmission networks, 210 residential buildings,
and 14 healthcare institutions.
What is the process for selecting projects?
Hayastan All-Armenia Fund’s Board of Trustees determines an official
list of projects on a yearly basis based on regional needs. Affiliates around
the globe, including Armenia Fund USA, decide which projects they would like to
sponsor. Once a decision is made, a request is sent to Armenia and a formal
agreement is signed between Armenia Fund USA and the Hayastan All-Armenia Fund.
Does the Armenian government have control over fund allocation?
No.
The Armenian government has no role in the selection of the projects nor does
it have any control whatsoever over Armenia Fund’s finances. The magnitude of
many of the Fund’s projects does make it necessary to work in conjunction with
various ministries and municipal departments, but both Hayastan All-Armenian
Fund and Armenia Fund USA act independently of the Armenian government.
Where do contributions go?
General Contributions to Armenia Fund USA
go toward the Fund’s National Giving Campaign. Donors may also request that
their funds be allocated toward specific projects, such as the North-South Highway,
the Orphan’s Fund or the Stepanakert Polyclinic. Donors can track the progress
of their projects through updates provided by the Fund.
How is
Armenia Fund USA audited?
Armenia Fund USA undergoes local annual audits.
Hayastan All-Armenian Fund is audited annually by AMYOT, an international auditing
firm in Paris, France. Auditing reports are published in the Fund’s Annual Report.
Furthermore, Armenia Fund USA’s Board of Directors ensures that all projects abide
by strict and formalized procedures that ensure procurement transparency and quality
control.
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