In late 2006, the Estate of Alice & Doris Norian bequest a sum of money to the Armenian Cultural Association of America, Inc. From this bequest of $350,000 the ACAA Board of Directors created the Alice & Doris Norian ANCA Endowment Fund and asked the ACAA Trustees to manage said funds in the manner of policy & procedures as the other endowed funds under the guidelines of the 501(c)(3) status of the Armenian Cultural Association, Inc. Thus the Norian Endowment Fund or any other Funds once created whether Trust Agreement has been executed or not: once deposited become Endowed Funds. This legal concept has been confirmed by legal representatives of the ACAA. Zohrab Tazian as Chairman and others of the ACAA Administration at the time, secured these funds which could have been lost because the Estate process was not clearly defined in advance.
