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← ASIAN ARTS INITIATIVE

Form 990 for tax year 2024

Filed by ASIAN ARTS INITIATIVE.

Totals

Total revenue
$1,647,988
Total expenses
$2,641,349
Contributions and grants received
$1,272,619
Grants paid
$313,021
Program service revenue
$170,007
Investment income
$205,362
Other revenue
$0
Total assets, end of year
$7,664,202
Total liabilities, end of year
$115,076
Net assets or fund balances, end of year
$7,549,126
Program services expenses (Part IX)
$1,795,019
Management and general expenses
$625,555
Fundraising expenses
$220,775
Program service expenses (Part III)
$1,795,019

Program services were 68.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $735,051

  • 1e · Government grants (contributions)

    $83,310

  • 1f · All other contributions, gifts and grants

    $454,258

  • 2a · Program service revenue: RENTAL INCOME

    total $131,785 · related or exempt $131,785

  • 2b · Program service revenue: OTHER INCOME

    total $38,222 · related or exempt $38,222

  • 3 · Investment income

    total $205,362 · excluded $205,362

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $224,021 · program services $224,021

  • 2 · Grants to domestic individuals

    total $89,000 · program services $89,000

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $139,747 · program services $83,848 · management and general $41,924 · fundraising $13,975

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,053,245 · program services $610,344 · management and general $300,571 · fundraising $142,330

  • 8 · Pension plan contributions

    total $32,850 · program services $19,106 · management and general $9,424 · fundraising $4,320

  • 9 · Other employee benefits

    total $167,814 · program services $97,273 · management and general $47,909 · fundraising $22,632

  • 10 · Payroll taxes

    total $103,090 · program services $59,958 · management and general $29,576 · fundraising $13,556

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $10,951 · management and general $10,951

  • 11g · Fees: other

    total $169,211 · program services $56,617 · management and general $112,259 · fundraising $335

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $44,228 · program services $10,989 · management and general $28,640 · fundraising $4,599

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $139,362 · program services $114,780 · management and general $22,965 · fundraising $1,617

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $7,775 · program services $5,322 · management and general $1,068 · fundraising $1,385

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $200,715 · program services $200,715

  • 23 · Insurance

    total $0

  • 24a · Other expenses: ARTIST FEES

    total $113,374 · program services $111,260 · management and general $90 · fundraising $2,024

  • 24b · Other expenses: SUPPLIES

    total $87,802 · program services $72,472 · management and general $5,782 · fundraising $9,548

  • 24c · Other expenses: OTHER EXPENSES

    total $58,164 · program services $39,314 · management and general $14,396 · fundraising $4,454

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $570,305 · end of year $208,083

  • 2 · Savings and temporary cash investments

    beginning of year $5,041 · end of year $2,042

  • 3 · Pledges and grants receivable

    beginning of year $1,004,316 · end of year $816,884

  • 4 · Accounts receivable

    beginning of year $215 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $43,673

  • 10a · Land, buildings and equipment: cost or other basis

    $7,038,180

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,486,976

  • 10c · Land, buildings and equipment, net

    beginning of year $4,722,723 · end of year $4,551,204

  • 11 · Investments: publicly traded securities

    beginning of year $2,517,906 · end of year $2,042,316

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $154,333 · end of year $115,076

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $123,686 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $5,656,468 · end of year $5,432,316

  • 28 · Net assets with donor restrictions

    beginning of year $2,886,019 · end of year $2,116,810

Mission and programs · 2024

Mission

THE ASIAN ARTS INITIATIVE IS A COMMUNITY-BASED ARTS CENTER IN PHILADELPHIA THAT ENGAGES ARTISTS AND EVERYDAY PEOPLE TO CREATE ART THAT EXPLORES THE DIVERSE EXPERIENCES OF ASIAN AMERICANS, ADDRESSES OUR SOCIAL CONTEXT, IMAGINES AND AFFECTS POSITIVE COMMUNITY CHANGE.

Activities or mission (Part I)

THE ASIAN ARTS INITIATIVE OFFERS PERFORMANCES, EXHIBITIONS, WORKSHOPS AND TRAINING FOR ARTISTS,YOUTH AND ADULTS WHO SHARE ITS MISSION OF COMMUNITY BASED ARTS.

  • THE ASIAN ARTS INITIATIVE OFFERS PERFORMANCES, EXHIBITIONS, WORKSHOPS AND TRAINING FOR ARTISTS, YOUTH AND ADULTS WHO SHARE ITS MISSION OF COMMUNITY BASED ARTS. THE ASIAN ARTS INITIATIVE IS A UNIQUE AND VITAL CIVIC SPACE WHERE ARTISTS AND EVERYDAY PEOPLE CAN THINK CRITICALLY ABOUT THE EXPERIENCES OF ASIAN AMERICANS IN PHILADELPHIA. IT IS A MEETING PLACE FOR PEOPLE WHO LACK ACCESS TO MAINSTREAM MEDIA, EDUCATION AND ARTS BECAUSE OF BARRIERS OF LANGUAGE, CULTURE, RACE AND MONEY. IT SERVES A DIVERSE CONSTITUENCY OF ASIAN IMMIGRANTS, ASIAN AMERICANS BORN IN THE US AND NON ASIANS WHO COME TOGETHER TO GIVE VOICE TO THEIR EXPERIENCES, RAISE AWARENESS OF ISSUES FACING THEM AND IMAGINE THEIR COLLECTIVE POSSIBILITIES FOR SOCIAL CHANGE.

    Expenses $1,795,019 · Grants $3,313,021 · Revenue $170,007

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Matt Nelson

    MANAGING DIRECTOR

    Total calculated
    $109,823
    From this org
    $106,223
    From related orgs
    $0
    Other
    $3,600
    Hours/week
    40

  • DAVE KYU

    Interim ED (EFF. 8/15/24)

    Total calculated
    $103,389
    From this org
    $98,908
    From related orgs
    $0
    Other
    $4,481
    Hours/week
    40

  • Anne Ishii

    Former ED (Thru. 8/15/24)

    Total calculated
    $71,619
    From this org
    $71,619
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Tuan Nguyen

    Board Chair

    Total calculated
    $0
    Hours/week
    1

  • Blessy Thomas

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Eva Ray

    Secretary (Thru. 12/31/2024)

    Total calculated
    $0
    Hours/week
    1

  • Sandra Clark

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mary Yee

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Candace Chewning

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Catherine Lee

    Secretary (eff. 8/29/2024)

    Total calculated
    $0
    Hours/week
    1

  • Sonia Pal

    Board Member (thru 7/31/24)

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • Unity LLC

    $35,000

    to support Unity Press & Skateboarding's charitable and educational work celebrating queer, trans, and BIPOC communities through inclusive skateboarding, art, and music events in public spaces and downtown venues.

  • Spark Greatness LLC

    $30,000

    Donation investment for Dear Chinatown Documentary

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.2
Source object
202611359349315641

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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