Zoryan Institute Publishes Financial Statements for 2002 & 2003

Toronto, Canada - The Corporate Board of Directors of the Zoryan Institute of Canada, Inc., having approved its financial statements for 2002 and 2003 at its June meeting in Toronto, has now made them public. The statements, whose details are appended below, show that Zoryan had combined revenues for the two years of $817,792 and disbursements in the amount of $645,844. Net assets at the end of 2003, including capital and equipment, totaled $238,751.

"Now that it is the beginning of the new academic year, we are taking the opportunity to release our financial report," announced Barry Papazian, legal advisor to the institute. "Even though the Zoryan Institute is a privately funded organization, it must operate transparently by making its financial statements public. We are conscious of our responsibility to our constituency, as we consider Zoryan's work and mission to be a public trust."

"The figures in the latest financial statement are generally in line with the previous year," noted Mig Migirdicyan, Treasurer of the institute. "Some line items are higher, some are lower. However, between 2002 and 2003, we were able to increase our investment in research by 56%, and I am pleased to see that revenues from book sales have increased by 33%," he observed. He went on to explain that Zoryan is a not-for-profit, registered charity in both the United States and Canada. "This means that we count the return on our investment not in terms of dollars, but in terms of the original research, educational programs, and publications in which we invest," he continued.

K.M. (Greg) Sarkissian, President of the institute, remarked, "It is very important to us to encourage as wide a base of support as possible. An important part of Zoryan's mission is to develop a forum within which the community at large can participate in conceptualizing the critical issues and current and future challenges facing our nation. Therefore, broad-based, grass roots support has been, and continues to be the most crucial element for our independence as an academic institute for the past twenty-two years."

George Shirinian, Director of the institute, detailed some of the programs funded by the institute during the fiscal year 2003. He urged everyone to visit Zoryan's web site, www.zoryaninstitute.org, especially the 'What's New' section, to see the kinds of work going on. This includes the following:

Seminars and Public Lectures in 2003
January 25 - "Ararat Panel Discussion," a panel discussion with Taner Akçam, Anny Bakalian, David R. Baker, George Bournoutian, Louis Najarian, Lisa Siraganian, at the City University of New York Graduate Center.

August 8 - "Looking Backward, Moving Forward," with Richard Hovannisian, at the Armenian Community Centre in Toronto.

August 10 - "The Future of Turkish-Armenian Relations," a panel discussion with Rouben Adalian, Taner Akçam, Razmik Panossian and Roger Smith," at the Alex Manoogian AGBU Community Centre in Toronto.

November 30-December 6 - "The Banality of Denial," with Yair Auron, at the University of Toronto, Rutgers University, the City University of New York Graduate Center, the Armenian Cultural Foundation, Tufts University, the University of Montreal, McGill University, and the AGBU in Montreal.

Research and Publication in 2003
Zoryan provided research and editorial assistance for, as well as sponsored the publication of The Banality of Denial: Israel and the Armenian Genocide by Yair Auron, and produced official offprints of two publications by Prof. Vahakn Dadrian. In addition, it produced three more issues of Diaspora: A Journal of Transnational Studies and participated in the editing for publication of From Empire to Republic: Turkish Nationalism and the Armenian Genocide, by Taner Akçam.

Educational Program in 2003
It ran the Genocide and Human Rights University Program, which provided an advanced seminar on this subject to students coming to Toronto from around the world. In December, it arranged a partnership with the University of Minnesota to run the program both in Toronto and Minneapolis, and to provide forty students at both campuses four graduate semester credits.

"I think we have had a terrific, highly productive year at Zoryan," concluded Roger Smith, Chairman of the Academic Board, "and I am looking forward to the coming academic year with great anticipation."

The Zoryan Institute is an international center devoted to the research and documentation of contemporary issues related to the history, politics, society, and culture of Armenia and Armenians around the world.

Statement of Operations and Changes in Net Assets for the Year Ended December 31, 2003