Armenia Fund
Armenia Fund (full name Hayastan All Armenian Fund, Armenian: Հայաստան համահայկական հիմնադրամ) was established in 1994 in Los Angeles, California. Armenia Fund, Inc. is a 501(c)(3) tax-exempt, non-governmental, non-political corporation. Serving as the United States’ Western Region affiliate of the “Hayastan” All-Armenian Fund along with its nineteen subsidiaries around the world, Armenia Fund, Inc. has issued over $120 million of electricity development guarantee and humanitarian revenue for Armenia. Lately the government of Armenia has been contributing to the fund since the fund has been receiving less support and not being able to meet its initial goals.[1]
Goals[edit]
Armenia Fund attempts to rebuild Armenia's economy and assist in the well-being of life in the region. Additionally, the organization attempts to rebuild major infrastructures damaged in Karabakh during the first Nagorno-Karabakh War.[2] The Fund has adopted a policy to go “Beyond Bricks and Mortar” to provide sustainability for projects it sponsors.[3]
Famous Donors[edit]
Some of the most famous donors and supporters of Armenia Fund include Kirk Kerkorian,[7] the Kardashians,[8] Serj Tankian of System of a Down and Cher.[9] In 2020, due to the Nagorno-Karabakh(Artsakh) war, Kim Kardashian donated $1 Million.[10] System of a Down released two new songs after 15 years, donating all the proceeds to Armenia Fund.[11] As of December 2020, they had raised nearly $1 Million as a result.[12]
Controversies[edit]
Kaputak Sevan[edit]
In 2007, the fund provided funding for the construction of a windsurfing center named "Kaputak Sevan" near the lake Sevan. Then the resort was "coincidentally" owned by Bella Kocharyan, former president Robert Kocharyan's wife.[13][14]