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PRESS RELEASE
Tuesday, June 2, 2009
AGBU Receives Exceptional Four-Star Rating from Charity Navigator
Watchdog Group
The world’s largest Armenian non-profit organization, the Armenian
General Benevolent Union (AGBU), received a four-star rating — the
highest allotted — for sound fiscal management from charity watchdog
Charity Navigator (). AGBU, whose overall score
was based on its short-term spending practices and long-term
sustainability, ranked above a number of leading non-profits, including
the American Cancer Society, American Red Cross, Amnesty International
and the Smithsonian Institution. Charity Navigator explains that its
four-star rating denotes that the organization "exceeds industry
standards and outperforms most charities in its Cause."
In a letter of acknowledgment for AGBU’s achievement, Ken Berger,
President & Chief Executive Officer of Charity Navigator, wrote, "We are
proud to announce Armenian General Benevolent Union has earned our
4-star rating for its ability to efficiently manage and grow its
finances…This ‘exceptional’ designation from Charity Navigator
differentiates Armenian General Benevolent Union from its peers and
demonstrates to the public it is worthy of their trust."
Founded in 2001, Charity Navigator is the nation’s largest and
most-utilized evaluator of over 5,000 of America’s best-known charities.
Their rating system examines two broad areas of a charity’s financial
health — how responsibly it functions day to day, and how well
positioned it is to sustain its programs over time. Each charity is then
awarded an overall rating, ranging from zero to four stars. The
organization does not charge charities that are evaluated and provides
its service free of charge to the public.
Established in 1906, AGBU (agbu.org) is the world’s largest non-profit
Armenian organization. Headquartered in New York City, AGBU preserves
and promotes the Armenian identity and heritage through educational,
cultural and humanitarian programs, annually touching the lives of some
400,000 Armenians on five continents.