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“Philanthropic Foundation Exposed: Shocking Misuse of Funds Hits Headlines in Armenia”

“Zhoghovurd” newspaper reports that philanthropic foundations play a crucial role in meeting the needs of individuals and various fields. One such foundation, “Im Kayl,” has allocated a significant amount of money for its own use. According to the company’s 2022 financial statement, out of the 277.5 million AMD income, 147.5 million AMD has been specifically designated for salaries, bonuses, expenses, and other expenditures.

The foundation has cleverly disguised this allocation as administrative research funds, allowing them to receive it as salaries. An astounding 99.7 million AMD has been allocated as salaries alone from the total income of 277.5 million AMD.

For more detailed information, readers can refer to today’s issue of the newspaper Lurer from Armenia – NEWS.am.