Highlights of the AGBU’s Hundred-Year Financial Activities
Since its inception in 1906, AGBU has earned the confidence of its donors and benefactors by managing the funds entrusted to it with care and diligence.
From its founding president, Boghos Nubar, to the current president, Berge Setrakian, the leaders of the AGBU have been deeply conscious of the providential role they were called upon to play with its fortune. Fully aware of their responsibility, they kept a close watch over the Union's wealth, maintained strict adherence to the stipulations of the bequests, and carried on programs fostering national preservation. Always thinking positively and strengthening the organization's finances, they used its means to address the numerous needs of our people, both in the Homeland and the Diaspora. In this connection, it is appropriate to quote the following historic words from one of the architects of the AGBU's proud past, President Alex Manoogian: "The AGBU is not a rich organization, but the guardian of a fortune. If the AGBU does not scrupulously perform its fiduciary role [on behalf of the Armenian nation], it will not be able to win the confidence of its benefactors and the people."
HIGHLIGHT OF THE AGBU’S HUNDRED-YEAR FINANCIAL ACTIVITIES
Throughout the past century (1906-2005), the AGBU served the Armenian nation by allocating a total of 810 million dollars (including 127 million dollars to projects in Armenia).
2005 ASSETS HIGHLIGHTS (in millions US dollars)
USA 128
Europe 30
Asia 20
Middle East 5
Total 183 (Book value)
REAL ESTATE
USA 1 H.Q., 3 Schls, 5 Cntrs, $21,562,000
1 Camp, 2 Prpts
Argentina 1 Schl, 2 Cntrs, 2 Prpt 5,345,000
Australia 1 Schl, 2 Cntrs, 2 Prpts 2,795,000