In this conversation, Sharmagh Sakounts reflects on her role at APRI Armenia, what it took to switch from fundraising in service-focused NGOs to a geopolitics think tank, and why she built Fundraisers Club Armenia as a professional home for fundraisers — and, increasingly, a bridge between funders and civil society. This is an edited conversation for flow, but the intention is to keep Sharmagh’s voice and wording.
Enrique Mendizabal: Sharmagh, thanks for making the time to talk to me. I’m always interested in how organisations fulfil “hidden” but essential fundraising, being one of the hardest. Tell me about your role at APRI Armenia.
Sharmagh Sakounts: Thank you. I joined APRI Armenia in 2023, and it was very challenging for me, to be honest, because I had previously worked at other nonprofits, but they worked in health and education, fields that are more “friendly” for fundraising. Switching to geopolitics has been very challenging, and it still is, because I believe raising funds for think tanks and research organisations is among the most difficult aspects of fundraising.
I guess this is true in many other countries, too.
Enrique: Yes! I think you are completely right. Fundraising for think tanks is difficult because funders often try to maximise impact, and it’s easier to see impact when you give money to service providers; there’s a direct human element. Think tanks promise something much more long-term and less tangible.
Sharmagh: Yes. Also, when people think about influencing policy, they think more in terms of lobbying or direct influence, not the indirect public way in which think tanks go about.
A different funding landscape: About 80% of APRI Armenia’s donors are individuals
Enrique: What is APRI Armenia’s funding model like?
Sharmagh: When I joined APRI Armenia, and even before, I tried to understand what the think tank world is like, and how those organisations work to raise funds and to engage their donors. And I saw that it is different from anything that I have done before.
Because with think tanks, particularly in regions like the South Caucasus, we tend to see greater reliance on institutional donors such as international foundations and intergovernmental organisations, and embassies.
When I joined APRI Armenia, I realised that we have a somewhat different funding model from most think tanks worldwide.
At APRI Armenia, about 80% of our donors are individuals. Institutions such as international organisations, embassies, and national and international foundations make up the rest.
In terms of funding totals, we still receive more from institutional sources. We try to increase the share of individual donors year by year. Still, this offers a unique balance.
As far as I know, throughout the world, and especially in small countries, think tanks are usually reliant on international foundations and organisations, while individual donors are the smallest part of the funding pool.
This is also perfectly presented in your 2025 State of the Sector Report.
Enrique: Why do you think APRI Armenia has that funding model?
Sharmagh: Raising funds from individuals for a think tank is very difficult. So it’s much easier to secure funding from international organisations, embassies, and agencies with relevant funding programmes.
It is not surprising that most think tanks do not engage with or rely on individual funders.
After some time at APRI Armenia, I realised there were issues that led to that kind of funding mix. It is a meeting of minds.
First, our goal is to build a majority-Armenian funding base to ensure our institutional and editorial independence. We are glad that many members of the Armenian Diaspora support our work, as they share our mission of fostering a resilient Armenia through trusted dialogue, independent analysis, and authoritative ideas.
Secondly, our priority is to secure core funding, which is essential for the organisation’s long-term sustainability and for reducing our dependence on project-based grants. Institutional donors typically provide support on a project basis. While we actively apply for grants and deeply value the support of our institutional partners, we aim to strike a better balance between core and project-based funding to ensure institutional resilience.
I think it’s the right model for an Armenian-based think tank.
The private sector: “We still have to explore what the matching point is with them”
Enrique: And what about the private sector? Is it part of the mix?
Sharmagh: We explored European think tanks’ standards and saw that they offer many membership and partnership opportunities for private companies. That is not something that we can do here, yet.
We have memberships for embassies and some international organisations. We also have experience with engaging private companies, especially as sponsors of our flagship event, the APRI Forum, but their number is very limited. Overall, the private sector remains a challenge.
Private companies would like more tangible results in their corporate social responsibility and other projects. We tried to have another approach by suggesting providing our analysis to them to inform their risk assessments and strategic planning – for instance, for launching products, events, etc.
But this has not yet been interesting for them.
So we still have to explore what the matching points are between us and the private sector. In our fundraising strategy for last year and this year, our goal is to explore and to understand opportunities with the private sector.
Enrique: Do you know of or think tanks in Armenia that are supported by business?
Sharmagh: I don’t. We have think tanks founded by private-sector associations — for example, technology companies — that have their own policy centres.
And I think the private sector here, and in many countries, wants short-term projects, short-term results, short-term impact. And even if they want a long-term impact, it needs to be closely connected to their line of work.
Furthermore, when it comes to geopolitics, Armenia is very polarised and many private companies don’t want to enter that field. So they try to be distanced.
Enrique: Have you considered offering access or more exclusive analysis?
Sharmagh: Yes, we were thinking about providing access and some exclusive information and analysis. And we thought maybe offering a geo-economic track — not only geopolitics and security, but geo-economic — could be more interesting for the private sector.
I mean not only reading about and discussing security, but understanding trends and developments in Armenia and the region in terms of geo-economics.
Currently, we have someone working on geo-economics, but we are still trying to create a picture of what we need to offer. It’s something we constantly work on. We keep talking with the private sector about their interests and goals, so we can design the offer and then try again.
Fundraisers Club Armenia
Enrique: Tell me about Fundraisers Club Armenia.
Sharmagh: Fundraisers Club Armenia was founded eight years ago. A fundraiser from the local Red Cross came to me and said: “I have a pain and I think you will understand me.” And that pain was about being lonely as a fundraiser.
We don’t have any formal professional fundraising education in Armenia – nothing about fundraising, nonprofit development, etc. – and most people become fundraisers by accident: they saw an opening at a nonprofit, they think, okay, I can try, and then they start and feel it’s interesting for them. Up to five professionals in Armenia hold degrees from fundraising-related programmes, all of whom studied at international universities.
People come to the field, and they don’t know anyone, they don’t know best practices, and they don’t know how they should work because there is no information about that. And she told me: “I feel lonely because there is no space where I can come, talk to people who do the same job, share pain points and knowledge, practices, skills — anything.”
We really didn’t have anything like that in Armenia eight years ago. And it was an interesting idea for me because I was always interested in fundraising and professional development.
At that time, I was exploring the Russian market because I worked there, and I think it was closer to us than the US or European markets, because Russians and we have more things in common than we do with Americans or Europeans. And they also went through a recent period of developing their philanthropy sector.
So I told her yes, you’re right, I understand your pain. I also worked at a small nonprofit, and I didn’t know anyone in the field, had no best practices, and had no spaces to learn.
So the story began in 2018.
We organised some events, and then COVID started, then the 2020 war started, and we had a pause. After 2020, we re-launched in 2021, but my partner resigned and joined the private sector.
I didn’t want it to be a charity project because I knew it had to be sustainable.
So I started to think about monetisation models for the Fundraisers Club. And then I had someone join me as co-founder.
We designed the membership programme and launched it in 2024. And it was a very interesting moment because many organisations joined in the first year. We had 22 organisations last year, and there are even more this year — small, mid, and large-scale local nonprofits, as well as nonprofits with offices in the U.S., Europe, etc.
Apart from membership, we also provide consulting services, including designing fundraising strategies, capacity building for their core team, and assessing fundraising processes and other opportunities.
A bridge between funders and nonprofits: ‘Not just sending proposals’
Enrique: You also started organising meetings between funders and nonprofits, right?
Sharmagh: Yes. Starting from last year, we began hosting meetings between funders and nonprofits.
Last year, we met with one of the largest Armenian family foundations. Then meetings with Adobe and other local businesses.
They usually talk about their grant programs or CSR practices and strategies. This helps nonprofits learn about their priorities and inform their approach to fundraising: no longer just sending proposals, but offering win-win partnerships, not just the plea that “you should help us because we are a charity.”
And for the private sector and foundations, it’s beneficial because they always complain about the unprofessional proposals they receive from many nonprofits.
And when we started doing that, we realised those events were the most attractive. Most members come when we have this kind of event, because everyone wants access to funders.
Enrique: Is the membership for individuals or organisations?
Sharmagh: We have both. But 95% is organisational memberships. And I always tell individuals: if you are from a nonprofit, go to your finance team or your manager, and present it as a professional development opportunity, because what you get here you will mostly use for your nonprofit, not just for yourself.
And I’m happy we could do that positioning and empower nonprofit professionals to ask for and get that support.
“We don’t only focus on fundraising”
Enrique: Is it all about raising funds?
Sharmagh: No. We cover more than pure fundraising. We also cover related topics important to fundraising professionals, such as well-being.
We have sessions with psychologists because fundraising is very stressful. Not only because you are told no-no-no all the time, but also because many nonprofits work in very difficult fields — children with cancer, families of fallen soldiers, etc. Fundraising specialists always talk about those topics, so they are under stress.
After 2020, Armenia faced a very difficult situation. Many nonprofits were founded to support families of soldiers or fallen soldiers, soldiers with disabilities. There is trauma. When a fundraiser always talks about raising funds and also hears “no,” it can be very stressful.
When we held the first session with a psychologist, many people came and shared their pain and feelings.
Now, we do it regularly. We try not only to provide a platform for talking, but also to share practical techniques for working with personal feelings daily, so they do not become major issues later on.
I feel our members really appreciate that we think not only about their professional development, but also their personal well-being.
Not only fundraisers, but also directors and programme managers are here
Enrique: In think tanks, fundraising is often done by the executive director or senior researchers, not fundraisers. Few think tanks have a fundraiser in their team. Do you have people like that in your community?
Sharmagh: Yes. We have directors and programme managers, too.
One director in our membership approached me and said the Club is an important platform for them, but asked if there was space for nonprofit executives, as they also have pain points and no space to discuss them with each other.
And for this year, I have introduced one topic in our annual discussion agenda: the role of executives in fundraising. And by “executive”, we mean not only programme managers and CEOs but also board members.
We will discuss the role and how to fundraise if you are not a fundraising professional.
In Armenia, it’s normal: if you are a director or CEO and lead an organisation, you have to raise funds. But many struggle because they don’t have time, and they don’t like asking for money.
The mission behind the Club: “We all work for the development of Armenia”
Enrique: What’s been the biggest impact for you?
Sharmagh: The major win for me is that people in our community help each other.
It’s unique for Armenia that fundraisers help each other. In our community, they don’t perceive each other as competitors but as colleagues. That is our major impact.
The great mission of the Fundraisers Club is to work together to develop Armenia. We have a joint mission. Some do it through education, others through policy, and others through improving the health care system. But we all do that so that we have a more resilient Armenia.
To have a greater impact, we need to support each other. Many members share that mission. When I see that they discuss, support each other, develop joint projects, and even meet outside the Club—it’s a major win.
And for think tanks, it can be beneficial as well. It means having community, having someone you can reach out to, share your struggles, and get support. It’s a very unique feeling. You move forward with someone next to you.
And yes, we still don’t have any specific education behind fundraising. We are now considering launching a training programme.
Enrique: The best of luck, Sharmagh.