The Hovsep Foundation

Private foundation · Grantmaker Union, NJ EIN: 84-2377028

The Hovsep Foundation is a private foundation focused on Education, based in Union, NJ. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $1.1M in total assets. In 2025, it awarded 2 grants totaling $62K. Net investment income was $28K.

Key facts about The Hovsep Foundation

In short: The Hovsep Foundation gave $62K across 2 grants in 2025 (avg $31K), mostly in New York. Source: 2025 IRS Form 990-PF.

EIN
84-2377028
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$62,000
Grants made (2025)
2
Average grant
$31,000
Median grant
$31,000
Total assets
$1,085,175
Primary geography
New York (100% of itemized 2025 grant dollars)

Data from IRS Form 990-PF, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$1.1M

+7.6% YoY

Annual Giving

$62K

-76.7% YoY

Grant Count

2

-50.0% YoY

Avg Grant Size

$31K

-53.4% YoY

Under IRS private-foundation payout rules, The Hovsep Foundation reported a distributable amount of $65K for 2025 — the minimum it must pay out in qualifying distributions.

How The Hovsep Foundation gives

  • Giving held roughly steady from 2022 to 2025 (−17%). Method
  • In 2025 it paid out 95% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

6states

Share of 2025 grant dollars across all 2 itemized grants.

Cities

New YorkWatertownFairlawnDallasLa CanadaLa CrescentaSuttonWashington

Giving Over Time

Total grant dollars and number of grants per year

$0$100K$200K$300K2 grants2020 8 grants2021 3 grants2022 5 grants2023 4 grants2024 2 grants2025

From 2020 to 2025, annual grant giving ranged from $30K (2020) to $266K (2024). In 2025 it made 2 grants totaling $62K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 2 recipients in 2025

Diocese of the Armenian Church: $35KDiocese of the Armenian Church$35KTufenkian Foundation: $27KTufenkian Foundation$27K

The largest 2025 recipient was Diocese of the Armenian Church ($35K). Together the top 2 received $62K.

Grant Size Distribution

22 grants across all recorded years

19<$50K1$50–100K2$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 19 grants of 22 (86%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Diocese of the Armenian Church New York, NYSocial Services$35,000
Tufenkian Foundation New York, NYSocial Service$27,000

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$500K$1M$1.5M2020 2021 2022 2023 2024 2025
Metric202520242023
Total Assets$1,085,175$1,008,862$1,099,480
Revenue$88,147$7,767$7,667
Expenses$62,000$266,000$87,560
Qualifying Distributions$62,000$266,000$87,500
Net Investment Income$28,147$7,767$7,667
Distributable Amount$65,221$49,578$72,282

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990-PF for fiscal year 2020 (received by the IRS April 7, 2021)
  2. Updated Form 990-PF for fiscal year 2021 (received by the IRS May 9, 2022)
  3. Updated Form 990-PF for fiscal year 2022 (received by the IRS March 10, 2023)
  4. Updated Form 990-PF for fiscal year 2023 (received by the IRS April 1, 2024)
  5. Updated Form 990-PF for fiscal year 2024 (received by the IRS April 22, 2025)
  6. Updated Form 990-PF for fiscal year 2025 (received by the IRS April 11, 2026)
  7. IRS filings on file for fiscal years 2020–2025

Leadership & Key People

Officers and directors from IRS filings

The Hovsep Foundation's 2025 filing lists 2 officers; none of the 2 officers listed in 2025 report compensation.

Officers on the 2025 filing

  • Serge Karakash

    Trustee

    On filings since 2020

    No compensation reported

  • Errol Karakash

    Executive Di

    On filings since 2020

    No compensation reported

Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Frequently asked questions about The Hovsep Foundation

How much does The Hovsep Foundation give each year?

The Hovsep Foundation gave $62K across 2 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $266K across 4 grants.

How large is The Hovsep Foundation?

The Hovsep Foundation reported $1.1M in total assets on its 2025 IRS Form 990-PF. It paid out $62K in qualifying distributions that year, against a required minimum of $65K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.

What is The Hovsep Foundation?

The Hovsep Foundation is a private foundation focused on Education, based in Union, NJ. It holds $1.1M in total assets as of 2025.

Where does The Hovsep Foundation operate?

The Hovsep Foundation has awarded grants in California, District of Columbia, Massachusetts, New Jersey, New York, Texas.

What is The Hovsep Foundation's EIN?

The Hovsep Foundation's EIN (Employer Identification Number) is 84-2377028. IRS Form 990 filing data is available on this page for 2020–2025.

Data last updated September 2026. Sourced from IRS Form 990-PF filings.

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