The mission of The Hirair and Anna Hovnanian Foundation is to provide funding for charitable, educational, religious, scientific, literary or testing for public safety purposes as described under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), with a primary focus on providing such funding so as to assist Armenian communities world-wide by gifts, grants, contributions and program-related investments to Section 501(c)(3) organizations, foreign Non-Governmental Organizations (NGO’s) pursuant to existing United States tax law requirements, or to governments exclusively for charitable purposes described in Section 170(c)(2)(B) of Code, or so as to assist charitable or educational organizations located in Ocean or Monmouth County, New Jersey, whose primary activities include provision of health care or education and training in real estate development.

 Along with his contributions of time, Mr. Hovnanian’s charitable contributions to date exceed $40 million. With the Hirair and Anna Hovnanian Foundation, Mrs. Hovnanian hopes to encourage and develop the artistic talent and higher education of the Armenian youth.