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Nonprofiteer
← GOLD HOUSE FOUNDATION INC

Form 990 for tax year 2022

Filed by GOLD HOUSE FOUNDATION INC.

Totals

Total revenue
$5,663,642
Total expenses
$3,248,477
Contributions and grants received
$3,390,092
Grants paid
$520,000
Program service revenue
$2,263,749
Investment income
$8,893
Other revenue
$908
Total assets, end of year
$4,181,546
Total liabilities, end of year
$26,483
Net assets or fund balances, end of year
$4,155,063
Program services expenses (Part IX)
$2,117,950
Management and general expenses
$718,453
Fundraising expenses
$412,074
Program service expenses (Part III)
$2,117,950

Program services were 65.2% 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.

  • 1f · All other contributions, gifts and grants

    $3,390,092

  • 2a · Program service revenue: PROGRAM REVENUE - REPRESENT

    total $2,263,749 · excluded $2,263,749

  • 3 · Investment income

    total $8,893 · related or exempt $8,893

  • 11a · Other revenue: MERCHANDISE SALE

    total $908 · related or exempt $908

  • 11e · Other revenue, total

    $908

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $520,000 · program services $520,000

  • 5 · Compensation of officers, directors and key employees

    total $572,291 · program services $44,289 · management and general $264,001 · fundraising $264,001

  • 7 · Other salaries and wages

    total $202,140 · program services $202,140

  • 9 · Other employee benefits

    total $33,619 · program services $8,777 · management and general $12,421 · fundraising $12,421

  • 10 · Payroll taxes

    total $53,886 · program services $19,626 · management and general $17,130 · fundraising $17,130

  • 11b · Fees: legal

    total $10,289 · program services $5,054 · management and general $5,235

  • 11c · Fees: accounting

    total $23,816 · program services $11,698 · management and general $12,118

  • 11g · Fees: other

    total $382,256 · program services $187,732 · management and general $194,524

  • 12 · Advertising and promotion

    total $162,639 · program services $10,720 · management and general $75,960 · fundraising $75,959

  • 13 · Office expenses

    total $1,881 · management and general $1,881

  • 14 · Information technology

    total $63,749 · program services $3,700 · management and general $60,049

  • 17 · Travel

    total $158,391 · program services $79,709 · management and general $39,341 · fundraising $39,341

  • 19 · Conferences, conventions and meetings

    total $992,236 · program services $989,718 · management and general $2,518

  • 22 · Depreciation, depletion and amortization

    total $7,934 · program services $7,934

  • 23 · Insurance

    total $17,426 · management and general $17,426

  • 24a · Other expenses: CHARITABLE DONATIONS

    total $500,250 · program services $500,250

  • 24b · Other expenses: PRTNR ENGAGEMENT/STRATEGY

    total $33,003 · program services $26,559 · management and general $3,222 · fundraising $3,222

  • 24c · Other expenses: SCHOLARSHIPS

    total $20,000 · program services $20,000

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $5,488 · program services $44 · management and general $5,444

  • 24e · All other expenses

    total -$512,817 · program services -$520,000 · management and general $7,183

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,777,371 · end of year $1,686,869

  • 3 · Pledges and grants receivable

    beginning of year $45,000

  • 4 · Accounts receivable

    end of year $751,400

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

    $41,487

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

    $22,108

  • 10c · Land, buildings and equipment, net

    beginning of year $16,658 · end of year $19,379

  • 11 · Investments: publicly traded securities

    end of year $1,723,898

  • 17 · Accounts payable and accrued expenses

    beginning of year $66,791 · end of year $26,483

  • 27 · Net assets without donor restrictions

    beginning of year $1,760,263 · end of year $4,155,063

  • 28 · Net assets with donor restrictions

    beginning of year $11,975

Mission and programs · 2022

Mission

GOLD HOUSE IS THE LEADING CULTURAL ECOSYSTEM THAT UNITES, INVESTS IN, AND CHAMPIONS ASIAN AND PACIFIC ISLANDER CREATIVE ARTISTS, ENTREPRENEURS, AND COMMUNITIES TO POWER TOMORROW FOR ALL. WE CULTIVATE AND PROMOTE ASIAN PACIFIC INTERESTS, HERITAGE, AND CULTURE BY POWERING ASIAN PACIFIC: STORIES TO ACCELERATE AUTHENTIC AND AFFIRMING REPRESENTATION IN MEDIA; ENTREPRENEURS TO EMPOWER ECONOMIC SUCCESS AND BREAK GLASS CEILINGS; RECOGNITION TO INSPIRE AND RESHAPE PUBLIC OPINION; AND UNITY TO STRENGTHEN COMMUNITY AND CULTURAL LEGACY.

  • WE OPERATE SEVERAL PROGRAMS ONLINE AND IN LOS ANGELES, NEW YORK CITY, AND SAN FRANCISO. BELOW ARE DESCRIPTIONS OF OUR PROGRAMS AND OPERATIONS. A100 & GOLD GALA - TO RESHAPE PUBLIC PERCEPTION AND ACCELERATE NARRATIVE CHANGE, EACH YEAR THE A100 RECOGNIZES THE GREATEST SOCIETAL CONTRIBUTIONS MADE BY ASIANS AND PACIFIC ISLANDERS THROUGH MAINSTREAM PRESS AND MEDIA. THE NOMINATION AND SELECTION PROCESS ENGAGES THE GENERAL PUBLIC, DOZENS OF ASIAN PACIFIC AMERICAN-SERVING NONPROFITS, AND DOZENS OF ICONIC DIVERSE LEADERS AND ALLIES. IN CELEBRATION OF ASIAN PACIFIC AMERICAN HERITAGE MONTH, GOLD HOUSE CONVENES THE A100 HONOREES AND HUNDREDS OF OTHER ASIAN PACIFIC LEADERS AT AN ANNUAL GALA EACH MAY IN LOS ANGELES - THE GOLD GALA - WHICH GENERATES UNMATCHED MAINSTREAM MEDIA RECOGNIZING THE ASIAN PACIFIC COMMUNITY'S CULTURE, HERITAGE, AND IMPACT ON SOCIETY. GOLD HOUSE FUTURES - TO INVEST IN AND PROPEL THE SUCCESS OF THE ASIAN PACIFIC COMMUNITY, GOLD HOUSE FUTURES HOSTS A SUITE OF PRESTIGIOUS ACCELERATING PROGRAMS AND RESOURCES FOR THE NEXT GENERATION OF ASIAN PACIFIC VISIONARIES. WE CONNECT THE MOST PROMISING ASIAN PACIFIC CREATIVES, ENTREPRENEURS, AND SOCIAL IMPACT LEADERS WITH LEADING ASIAN PACIFIC TALENT AND OFFER CAREER-MAKING RESOURCES AND OPPORTUNITIES WITH THE WORLD'S BIGGEST PLATFORMS. FOR EXAMPLE, WE FACILITATED 500,000 IN GRANTS TO 10 AAPI-SERVING NONPROFITS THROUGH A PUBLIC GRANTS CHALLENGE THAT GENERATED OVER 12,000 PUBLIC VOTES - THE GOLD FUTURES CHALLENGE - AND FACILITATED 3 FULLY-FUNDED SHORT FILMS WITH RISING ASIAN PACIFIC FILMMAKERS WITH NETFLIX THAT PREMIERED AT TRIBECA FESTIVAL. MEDIA REPRESENTATION - TO ENSURE THE FAIR, ACCURATE, AND INCLUSIVE REPRESENTATION OF ASIANS AND PACIFIC ISLANDERS IN CULTURE, GOLD HOUSE'S MEDIA REPRESENTATION WORK ACCELERATES THE AUTHENTICITY AND SUCCESS OF ASIAN PACIFIC-LED STORIES. FOR EXAMPLE, WE AMPLIFY SELECT FILMS THROUGH GOLDOPEN - A COMMUNITY-LED MOVEMENT THAT HAS ENGAGED HUNDREDS OF THOUSANDS NATIONWIDE AND AMPLIFIED DOZENS OF ASIAN PACIFIC-LED FILMS TO CRITICAL AND BOX OFFICE SUCCESS, CREATING FAR-REACHING ECONOMIC AND SOCIAL CHANGE IN THE MAINSTREAM ACCEPTANCE AND PERCEPTION OF ASIANS AND PACIFIC ISLANDERS. WE ALSO CONDUCT AND CO-AUTHOR FIRST-OF-ITS-KIND RESEARCH, SUCH AS THE LARGEST STUDY EVER ON MEDIA REPRESENTATION OF ASIAN PACIFIC WOMEN, ALONGSIDE NON- PROFIT SEEHER. FINALLY, WE PROVIDE CULTURAL RESOURCES AND SERVICES LIKE GOLD STORYBOOK - A PUBLIC GUIDE AND RESOURCE HUB FOR STORYTELLERS ON HOW TO CREATE AUTHENTIC ASIAN PACIFIC PORTRAYALS IN MEDIA.

    Expenses $2,117,950 · Grants $520,000 · Revenue $2,263,749

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Spencer Hwa-Bing Chen

    PRESIDENT

    Total calculated
    $239,583
    From this org
    $239,583
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $189,583
    Bonus
    $50,000
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $239,583
  • Jeremy Tran

    EXEC DIR/SEC

    Total calculated
    $239,583
    From this org
    $239,583
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $189,583
    Bonus
    $50,000
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $239,583
  • Ben Chu

    TREASURER

    Total calculated
    $93,125
    From this org
    $93,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    40
  • Prabal Gurung

    BOARD DIRECT

    Total calculated
    $0
    Hours/week
    3
  • Daniel Dae Kim

    BOARD DIRECT

    Total calculated
    $0
    Hours/week
    3
  • Michelle Lee

    BOARD DIRECT

    Total calculated
    $0
    Hours/week
    3
  • Patrick Lee

    BOARD DIRECT

    Total calculated
    $0
    Hours/week
    3
  • Kevin Maxwell Lin

    BOARD DIRECT

    Total calculated
    $0
    Hours/week
    3
  • Kevin Nishimura

    BOARD DIRECT

    Total calculated
    $0
    Hours/week
    3
  • Sanjay Sharma

    BOARD DIRECT

    Total calculated
    $0
    Hours/week
    3
  • Janet Yang

    BOARD OF DIR

    Total calculated
    $0
    Hours/week
    3

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

  • AAPI COMMUNITY GRANT

  • WILDWONDER BRANDS INC

    $10,000

    FOUNDERS SCHOLARSHIP

  • UMAMICART INC

    $10,000

    FOUNDERS SCHOLARSHIP

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202303199349318020

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