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← ASIAN AMERICANS FOR EQUALITY INC

Form 990 for tax year 2023

Filed by ASIAN AMERICANS FOR EQUALITY INC.

Totals

Total revenue
$10,895,181
Total expenses
$9,838,751
Contributions and grants received
$6,804,011
Grants paid
$768,484
Program service revenue
$4,053,068
Investment income
$1,288
Other revenue
$36,814
Total assets, end of year
$27,979,358
Total liabilities, end of year
$19,741,338
Net assets or fund balances, end of year
$8,238,020
Program services expenses (Part IX)
$7,145,597
Management and general expenses
$2,522,554
Fundraising expenses
$170,600
Program service expenses (Part III)
$7,145,597

Program services were 72.6% 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.

  • 1c · Fundraising events

    $216,745

  • 1d · Related organizations

    $1,458,967

  • 1e · Government grants (contributions)

    $2,357,338

  • 1f · All other contributions, gifts and grants

    $2,770,961

  • 2a · Program service revenue: RENTAL REVENUE

    total $1,723,331 · unrelated business $1,246,619 · excluded $476,712

  • 2b · Program service revenue: PROGRAM SERVICE FEES

    total $1,550,847 · related or exempt $1,550,847

  • 2c · Program service revenue: DEVELOPER FEES

    total $370,329 · related or exempt $370,329

  • 2d · Program service revenue: OTHER PROGRAM REVENUE

    total $196,338 · related or exempt $196,338

  • 2e · Program service revenue: LOAN INTEREST

    total $101,023 · related or exempt $101,023

  • 2f · All other program service revenue

    total $111,200 · related or exempt $79,954 · unrelated business $31,246

  • 3 · Investment income

    total $1,288 · excluded $1,288

  • 8a · Fundraising events: gross income

    $19,719

  • 8a · Fundraising events: contributions included on line 1c

    $216,745

  • 8b · Fundraising events: direct expenses

    $38,404

  • 8c · Net income from fundraising events

    total -$18,685 · excluded -$18,685

  • 11a · Other revenue: MISCELLANEOUS

    total $55,499 · related or exempt $55,499

  • 11e · Other revenue, total

    $55,499

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $768,484 · program services $768,484

  • 5 · Compensation of officers, directors and key employees

    total $368,494 · program services $234,534 · management and general $133,960

  • 7 · Other salaries and wages

    total $3,582,620 · program services $2,706,527 · management and general $739,192 · fundraising $136,901

  • 8 · Pension plan contributions

    total $93,523 · program services $58,652 · management and general $30,937 · fundraising $3,934

  • 9 · Other employee benefits

    total $443,526 · program services $281,682 · management and general $144,738 · fundraising $17,106

  • 10 · Payroll taxes

    total $344,824 · program services $217,261 · management and general $114,904 · fundraising $12,659

  • 11b · Fees: legal

    total $27,334 · management and general $27,334

  • 11d · Fees: lobbying

    total $210,945 · program services $210,945

  • 11g · Fees: other

    total $323,930 · program services $76,732 · management and general $247,198

  • 12 · Advertising and promotion

    total $30,242 · program services $5,968 · management and general $24,274

  • 13 · Office expenses

    total $405,368 · program services $319,861 · management and general $85,507

  • 14 · Information technology

    total $116,106 · management and general $116,106

  • 16 · Occupancy

    total $977,699 · program services $837,423 · management and general $140,276

  • 17 · Travel

    total $28,366 · program services $23,687 · management and general $4,679

  • 19 · Conferences, conventions and meetings

    total $41,584 · program services $31,875 · management and general $9,709

  • 20 · Interest

    total $721,885 · program services $353,533 · management and general $368,352

  • 22 · Depreciation, depletion and amortization

    total $444,164 · program services $260,226 · management and general $183,938

  • 23 · Insurance

    total $136,895 · program services $102,573 · management and general $34,322

  • 24a · Other expenses: PROGRAM EQUIPMENT

    total $238,223 · program services $238,223

  • 24b · Other expenses: PUBLIC RELATIONS

    total $157,151 · program services $92,666 · management and general $64,485

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $154,584 · program services $148,925 · management and general $5,659

  • 24d · Other expenses: STIPENDS

    total $84,289 · program services $84,289

  • 24e · All other expenses

    total $138,515 · program services $91,531 · management and general $46,984

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,829,479 · end of year $1,013,214

  • 2 · Savings and temporary cash investments

    beginning of year $423,832 · end of year $314,819

  • 3 · Pledges and grants receivable

    beginning of year $1,634,178 · end of year $1,050,684

  • 4 · Accounts receivable

    beginning of year $119,350

  • 9 · Prepaid expenses and deferred charges

    beginning of year $294,678 · end of year $128,243

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

    $13,266,914

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

    $3,355,494

  • 10c · Land, buildings and equipment, net

    beginning of year $10,412,933 · end of year $9,911,420

  • 13 · Investments: program-related

    beginning of year $4,662,829 · end of year $1,001,132

  • 15 · Other assets

    beginning of year $12,340,348 · end of year $14,559,846

  • 17 · Accounts payable and accrued expenses

    beginning of year $638,277 · end of year $495,238

  • 23 · Secured mortgages and notes payable

    beginning of year $8,332,213 · end of year $7,524,597

  • 25 · Other liabilities

    beginning of year $12,688,318 · end of year $11,721,503

  • 27 · Net assets without donor restrictions

    beginning of year $9,019,412 · end of year $6,985,544

  • 28 · Net assets with donor restrictions

    beginning of year $1,039,407 · end of year $1,252,476

Mission and programs · 2023

Mission

TO ADVANCE RACIAL, SOCIAL AND ECONOMIC JUSTICE FOR ASIAN AMERICANS AND OTHER SYSTEMATICALLY DISADVANTAGED COMMUNITIES BY CREATING AFFORDABLE HOUSING AND ECONOMIC OPPORTUNITY, PROVIDING AN ARRAY OF MULTILINGUAL COMMUNITY SERVICES AND FOSTERING GRASSROOTS LEADERSHIP AND CIVIC ENGAGEMENT.

Activities or mission (Part I)

ASIAN AMERICANS FOR EQUALITY, INC. (AAFE) ADVANCES THE RIGHTS OF ASIAN AMERICANS, AND THOSE IN NEED, THROUGH ADVOCACY FOR CIVIL RIGHTS, AFFORDABLE HOUSING, ECONOMIC DEVELOPMENT, AND IMMIGRANT SERVICES.

  • PLANNING AND DEVELOPMENT: IN THE PAST THREE DECADES, ASIAN AMERICANS FOR EQUALITY HAS DEVELOPED AND PRESERVED MORE THAN 1,200 AFFORDABLE APARTMENTS IN IMMIGRAT AND LOW-INCOME COMMUNITIES ACROSS NEW YORK CITY. THE GOAL OF OUR HOUSING DEVELOPMENT WORK IS TO CREATE SAFE AND HEALTHY HOMES FOR LOW- AND MIDDLE-INCOME INDIVIDUALS AND FAMILIES, PROVIIDNG THE HOUSING STABILITY THEY NEED TO THRIVE AND PRESERVING THE ESSENTIAL CHARACTER OF OUR DIVERSE NEIGHBORHOODS. AAFE'S PLANNING & DEVELOPMENT TEAM HAS A STRONG TRACK RECORD OF INNOVATION, PIONEERING VARIOUS PROGRAMS THAT HAVE BECOME CITYWIDE MODELS, INCLUDING THE USE OF LOW-INCOME TAX CREDITS TO BUILD AFFORDABLE HOUSING, THE CITY'S AFFORDABLE HOUSING COOPERATIVE PROGRAM AND THE POST 9/11 CHINATOWN/LOWER EAST SIDE PRESERVATION.

    Expenses $2,920,355 · Grants $693,484 · Revenue $1,691,791

  • COMMUNITY OUTREACH AND EDUCATION: AAFE'S OUTREACH AND EDUCATION PROGRAMS ARE DESIGNED TO EMPOWER COMMUNITY MEMBERS TO BECOME INFORMED AND ENGAGED MEMBERS IN THEIR BUILDINGS, NEIGHBORHOODS AND CIVIC ORGANIZATIONS. EACH YEAR, THOUSANDS OF INDIVIDUALS ATTEND OUR MULTILINGUAL EDUCATIONAL WORKSHOPS AND COMMUNITY EVENTS AND PARTICIPATE IN OUR ADVOCACY CAMPAIGNS. AAFE WORKS TO REGISTER VOTERS, ORGANIZE RENT STABILIZED TENANTS AND ENGAGE IMMIGRANT YOUTH AND LOW-INCOME SENIORS. MORE THAN 100 VOLUNTEERS HELP STAFF OUR FOOD PANTRIES, BACK TO SCHOOL GIVEAWAYS AND MULTICULTURAL HOLIDAY CELEBRATIONS.

    Expenses $2,177,090 · Grants $2,000 · Revenue $1,372,639

  • HOUSING, IMMIGRATION AND SOCIAL SERVICES: THE FOUNDATION OF AAFE'S COMMUNITY SERVICES IS A STRONG BELIEF THAT EVERYONE SHOULD HAVE EQUITABLE ACCESS TO AFFORDABLE AND SAFE HOUSING, GOVERNMENT SAFETY NET PROGRAMS AND HEALTHCARE AND PATHWAYS TO U.S. CITIZENSHIP FOR THEMSELVES AND THEIR FAMILIES. WHILE MAINTAINING COMMUNITY CENTERS IN MANHATTAN 'S CHINATOWN AND THE LOWER EAST SIDE AND FLUSHING AND JACKSON HEIGHTS IN QUEENS, OUR INDIVIDUAL COUNSELING SERVICES ARE AVAILABLE CITYWIDE. AAFE PROVIDERS MULTILINGUAL ASSISTANCE IN ENGLISH, CHINESE, SPANISH, AND KOREAN TO HELP PREVENT HOUSING DISPLACEMENT, CONNECT LOW-INCOME COMMUITY MEMBERS WITH ESSENTIAL SOCIAL SERVICES AND IMMIGRATION ASSISTANCE.

    Expenses $2,048,152 · Grants $73,000 · Revenue $289,560

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • CATHERINE KIM

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    3

  • CONNIE LEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DONNA CHIU

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • GRACE ALSTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HEIDIE JOO BURWELL

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • JACQUELINE HUEY

    SECRETARY (OUTGOING)

    Total calculated
    $0
    Hours/week
    0.2

  • JENNIFER WU

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JIM BURKE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • JOHN LEO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KAY WEBSTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KENNETH COHEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LYDIA TOM

    CHAIR

    Total calculated
    $0
    Hours/week
    4 + 0.5 related

  • PEGGY CHAN

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • PING DANG

    DIRECTOR (OUTGOING)

    Total calculated
    $0
    Hours/week
    0.2

  • TIMOTHY WONG

    DIRECTOR (OUTGOING)

    Total calculated
    $0
    Hours/week
    0.2 + 1 related

  • TOBY S BABA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.5 related

  • WENDY TAKAHISA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JOY SUZANNE GRANADO

    CHIEF ACCOUNTING OFFICER

    Total calculated
    $220,591
    From this org
    $192,545
    From related orgs
    $0
    Other
    $28,046
    Hours/week
    23 + 15 related

    Schedule J breakdown matched by us

    Base
    $192,545
    Bonus
    $0
    Other
    $0
    Deferred
    $7,617
    Nontaxable benefits
    $20,429
    Filer's total
    $220,591

  • MY CHANG

    CHIEF OF STAFF

    Total calculated
    $147,904
    From this org
    $139,860
    From related orgs
    $0
    Other
    $8,044
    Hours/week
    23 + 15 related

  • THOMAS YU

    CO-EXECUTIVE DIRECTOR

    Total calculated
    $345,309
    From this org
    $0
    From related orgs
    $279,045
    Other
    $66,264
    Hours/week
    23 + 15 related

    Schedule J breakdown matched by us

    Base
    $0 + $279,045 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,754 related
    Nontaxable benefits
    $0 + $56,510 related
    Filer's total
    $0 + $345,309 related

  • EDWARD LITVAK

    DIRECTOR OF MARKETING

    Total calculated
    $192,962
    From this org
    $155,364
    From related orgs
    $0
    Other
    $37,598
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $155,364
    Bonus
    $0
    Other
    $0
    Deferred
    $6,425
    Nontaxable benefits
    $31,173
    Filer's total
    $192,962

  • EMILY RIOS

    DIRECTOR OF COMMUNITY SERV

    Total calculated
    $201,614
    From this org
    $165,128
    From related orgs
    $0
    Other
    $36,486
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $165,128
    Bonus
    $0
    Other
    $0
    Deferred
    $6,605
    Nontaxable benefits
    $29,881
    Filer's total
    $201,614

  • ETHEL COFFINAS

    DIRECTOR OF HUMAN RESOURCE

    Total calculated
    $201,614
    From this org
    $164,235
    From related orgs
    $0
    Other
    $37,379
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $164,235
    Bonus
    $0
    Other
    $0
    Deferred
    $6,605
    Nontaxable benefits
    $30,774
    Filer's total
    $201,614

  • HUI-YUAN NELSON CHAN

    MANAGING DIR OF COMMUNITY SVCS.

    Total calculated
    $217,063
    From this org
    $168,900
    From related orgs
    $0
    Other
    $48,163
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $168,900
    Bonus
    $0
    Other
    $0
    Deferred
    $6,812
    Nontaxable benefits
    $41,351
    Filer's total
    $217,063

  • SHERRY CAPILI

    SENIOR PROJECT MANAGER

    Total calculated
    $175,318
    From this org
    $149,255
    From related orgs
    $0
    Other
    $26,063
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $149,255
    Bonus
    $0
    Other
    $0
    Deferred
    $5,972
    Nontaxable benefits
    $20,091
    Filer's total
    $175,318

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GOLDEN ALLEN LLC

    PURCHASE AND OWN A CONDOMINIUM · NY · income $250,456 · assets $3,671,799

    Directly controlled by ASIAN AMERICANS FOR EQUALITY INC

  • ONE HARDESTY LLC

    OPERATE A STORAGE FACILITY · MO · income $1,342,301 · assets $5,993,747

    Directly controlled by ASIAN AMERICANS FOR EQUALITY INC

  • LES 8TH STREET LLC

    PROVIDE AFFORDABLE HOUSING · NY · income $0 · assets $0

    Directly controlled by ASIAN AMERICANS FOR EQUALITY INC

  • AAFE CARE SENIOR CENTER

    PROVIDE AFFORDABLE HOUSING · NY · income $0 · assets $0

    Directly controlled by ASIAN AMERICANS FOR EQUALITY INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • NORFOLK APARTMENTS II LP

    RELATED · PROVIDE LOW-INCOME HOUSING IN NEW YORK CITY · NY · 0.1% owned · share of income $260,316 · share of assets $5,610,868 · general or managing partner

    Directly controlled by ASIAN AMERICANS FOR EQUALITY

  • NORFOLK APARTMENTS LP

    PROVIDE LOW-INCOME HOUSING IN NEW YORK CITY · NY · general or managing partner

  • EAST VILLAGE HOMES

    PROVIDE AFFORDABLE RENTAL HOUSING · NY

  • BREMOND KING DAVIS LLC

    PROVIDE AFFORDABLE RENTAL HOUSING · NY · general or managing partner

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
31 December 2023
IRS schema version
2023v5.1
Source object
202443209349325569

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