The Terchoonian Home Orphanage of Gyumri, Armenia, opened its doors in the fall of 2003. This was made possible by the generous donation of $350,000 in the name of the late Vahan Terchoonian by his family, to establish an orphanage in Gyumri (Alexandropol), Armenia. This was the same city Terchoonian found refuge in after escaping from Turkey, before he eventually immigrated to the United States.

The site of the Terchoonian Home was once an orphanage managed by the Near East Relief. It later became a military headquarters for the Soviet army. The building was heavily damaged during an earthquake in 1988. But thanks to the Terchoonian bequest, and the hard work and dedication of men such as the late Archbishop Mesrob Ashjian and Romen Gozmoyan, the building was purchased and completely renovated. Today, there are 74 children and a staff of 54.