JOINT DECLARATION

AGBU Melkonian Alumni, AGBU Chapters

United against the School closure

 

Nicosia/LosAngeles/Beirut/London/Athens/UAE/Istanbul/Toronto/Montreal 

November 5,2003  

 

The AGBU Melkonian Educational Institute Alumni in Cyprus , California , Greece , U.K. , U.A.E., Lebanon , Istanbul , Toronto , and Montreal are jointly calling on the AGBU Central Board to abandon all plans to close the Melkonian Institute in Cyprus and sell the property.

 

Our campaign, to ensure the School?s continuity and find alternative ways to maintain its financial viability, spearheaded by the AGBU Central Board Hon. Director Haykashen Ouzounian and all the AGBU   Melkonian Alumni Organizations world-wide, is gaining   support from many AGBU Chapters, mainly in Europe and the Middle East .

 

The AGBU Melkonian Alumni and many local AGBU   Chapters are concerned that the dwindling    finances of the AGBU   has convinced the majority of the Members of the Central Board   (expected to meet in New York in December 2003 to decide the fate of the School), to simply toe the line of the AGBU leadership and vote to close the School.

 

Repeated requests for clarifications from the AGBU Central Board have gone unanswered.  The dispatch of a US consultant  to the Melkonian to prepare an evaluation report has added to fears that the AGBU Central Board is in the final stages of its unilateral decision to close the Melkonian.

 

 

JEWEL IN THE CROWN

 

Thousands of Melkonian graduates and AGBU rank-and-file  members believe that the Central Board  has not exhausted all means to close the budget gap, and instead has decided to take the option of closing the School and selling the property.

 

Rumors suggest that the AGBU Central Board has received offers of USD 48 Million from a Cypriot and other land developers.

 

If  the Melkonian goes,  that would have a disastrous impact on the Armenian community in Cyprus and demoralizing consequences on all the other Armenian Diaspora communities.  Furthermore, the liquidation of Melkonian will undoubtedly create a split among the AGBU ranks and various Chapters around the world; it will irreparably damage AGBU?s reputation, and Armenians at large will loose their confidence and faith in AGBU?s credibility.

 

ALTERNATIVES

 

The new world order might dictate that commercial establishments that are not profitable should be closed.  However, it should be noted that educational institutions, such as MEI, are non-profit making establishments.  Thus, it is the prime duty of the Central Board to exhaust every other option towards increasing revenue and cutting costs, and guiding the school to prosperity. 

 

The AGBU Central Board has for years portrayed the image that the Melkonian is the most expensive school among more than 20 schools it manages.  However, it should not be forgotten that MEI is the only boarding school in the whole Armenian Diaspora.

 

According to initial estimates, the total Melkonian annual budget nears USD 1.25 mln., which  the  AGBU Central  Board  has  translated to an  average cost  per student of

USD 6250.

 

The Central Board, however, fails to note that the Melkonian Endowment Fund valued at USD 5.5 mln. generates an annual income for this purpose, for which it has never provided details.

 

Assuming that the Melkonian Endowment Fund is invested in 10-year U.S.Treasury bonds, earning 4% per annum, this would generate USD 200,000 annually.

 

New York also fails to mention that the Melkonian Commercial Center generates another USD 450,000 annually.

 

Taking into account the sum received from tuitions and other subsidiaries, the income is USD 500,000.

 

Thus, it leaves a budget gap of USD 100,000, which the AGBU Melkonian Alumni believe the amount can be easily covered by new ventures utilizing all the Melkonian facilities.

 

 

ARMENIAN HERITAGE

 

The AGBU Melkonian Alumni believe that AGBU Central Board should consider other alternative options to exploit the prime location of the Melkonian, and at the same time give the opportunity to thousands of Armenians from all over the world to benefit from a decent education and a chance to succeed in life, and in turn help their communities.

 

After all, through education do we invest in the future of all communities. Such is the principle of the AGBU.  Lest we forfeit this principle.

 

The above Declaration is a call to AGBU Central Board Members, while taking decision for the future of the Melkonian Educational Institute, not to endanger its existence.  The unique historic role of the Institute should be preserved.

 

At the same time, we, the AGBU Melkonian Alumni, summon all members of the MEI Family world-wide to rally around their precious ALMA MATER and support it morally and financially, so that the School can continue its mission in the 21st century.

 

On behalf of thousands of Melkoniantsis around the world, the above Declaration is issued collectively by the following AGBU Melkonian Alumni Organizations.

 

AGBU Melkonian Alumni, Cyprus

AGBU Melkonian Alumni, California

AGBU Melkonian Alumni, Lebanon

AGBU Melkonian Alumni, Istanbul

AGBU Melkonian Alumni, Toronto

AGBU Melkonian Alumni, Montreal

AGBU Melkonian Alumni, Greece

AGBU Melkonian Alumni, U.K.

AGBU Melkonian Alumni, U.A.E.