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Nonprofiteer
← THE ASIAN AMERICAN FOUNDATION

Form 990 for tax year 2022

Filed by THE ASIAN AMERICAN FOUNDATION.

Totals

Total revenue
$16,757,627
Total expenses
$14,111,697
Contributions and grants received
$16,737,342
Grants paid
$4,685,329
Program service revenue
$0
Investment income
$20,285
Other revenue
$0
Total assets, end of year
$88,971,313
Total liabilities, end of year
$3,316,026
Net assets or fund balances, end of year
$85,655,287
Program services expenses (Part IX)
$10,394,161
Management and general expenses
$3,351,630
Fundraising expenses
$365,906
Program service expenses (Part III)
$10,394,161

Program services were 73.7% 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

    $16,737,342

  • 1g · Noncash contributions included above

    $863,299

  • 3 · Investment income

    total $34,684 · excluded $34,684

  • 7a · Gross sales of assets other than inventory

    securities $862,284

  • 7b · Less cost or other basis and sales expenses

    securities $876,683

  • 7c · Gain or loss

    securities -$14,399

  • 7d · Net gain or loss

    total -$14,399 · excluded -$14,399

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,685,329 · program services $4,685,329

  • 5 · Compensation of officers, directors and key employees

    total $1,377,100 · program services $829,124 · management and general $380,769 · fundraising $167,207

  • 7 · Other salaries and wages

    total $1,550,951 · program services $423,830 · management and general $1,013,139 · fundraising $113,982

  • 9 · Other employee benefits

    total $235,178 · program services $90,930 · management and general $122,527 · fundraising $21,721

  • 10 · Payroll taxes

    total $207,847 · program services $82,089 · management and general $106,230 · fundraising $19,528

  • 11a · Fees: management

    total $2,348,415 · program services $1,207,644 · management and general $1,104,956 · fundraising $35,815

  • 11b · Fees: legal

    total $85,286 · management and general $85,286

  • 11c · Fees: accounting

    total $198,354 · management and general $198,354

  • 12 · Advertising and promotion

    total $830,356 · program services $828,106 · management and general $2,250

  • 13 · Office expenses

    total $140,138 · program services $5,728 · management and general $132,815 · fundraising $1,595

  • 16 · Occupancy

    total $1,242 · management and general $1,242

  • 17 · Travel

    total $211,701 · program services $54,501 · management and general $151,825 · fundraising $5,375

  • 19 · Conferences, conventions and meetings

    total $2,345 · program services $234 · management and general $2,111

  • 23 · Insurance

    total $44,277 · management and general $44,277

  • 24a · Other expenses: OTHER EVENT EXPENSES

    total $2,193,178 · program services $2,186,646 · management and general $5,849 · fundraising $683

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $13,280,819 · end of year $35,161,351

  • 3 · Pledges and grants receivable

    beginning of year $71,536,217 · end of year $53,480,279

  • 4 · Accounts receivable

    beginning of year $3,555,684 · end of year $109,088

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,758 · end of year $187,202

  • 11 · Investments: publicly traded securities

    beginning of year $669,739

  • 15 · Other assets

    beginning of year $0 · end of year $33,393

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,420,470 · end of year $500,141

  • 18 · Grants payable

    beginning of year $4,619,390 · end of year $2,815,885

  • 27 · Net assets without donor restrictions

    beginning of year $81,509,357 · end of year $82,664,935

  • 28 · Net assets with donor restrictions

    beginning of year $1,500,000 · end of year $2,990,352

Mission and programs · 2022

Mission

SEE SCHEDULE O.

Activities or mission (Part I)

THE ASIAN AMERICAN FOUNDATION'S (TAAF) SERVES THE AAPI COMMUNITY IN THEIR PURSUIT OF BELONGING AND PROSPERITY THAT IS FREE FROM DISCRIMINATION, SLANDER AND VIOLENCE, IN FURTHERANCE OF ITS CHARITABLE MISSION TAAF CONDUCTS

  • SEE SCHEDULE O.

    Expenses $2,486,260 · Grants $1,023,942

  • SEE SCHEDULE O.

    Expenses $4,448,752 · Grants $2,957,114

  • SEE SCHEDULE O.

    Expenses $3,459,149 · Grants $704,273

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

Listed in Part VII

  • Norman Chen

    CEO AND DIRECTOR

    Total calculated
    $482,793
    From this org
    $482,793
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $482,793
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $482,793

  • Jerry Yang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Joe Tsai

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jonathan Greenblatt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Joseph Bae

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Li Lu

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Peng Zhao

    DIRECTOR/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Sheila Marcelo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Prisca Bae

    CHIEF PARTNERSHIPS OFFICER

    Total calculated
    $312,798
    From this org
    $312,798
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $295,318
    Bonus
    $0
    Other
    $17,480
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $312,798

  • Isabel Kim

    CHIEF FINANCIAL OFFICER

    Total calculated
    $257,420
    From this org
    $257,420
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $245,221
    Bonus
    $0
    Other
    $12,199
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $257,420

  • Audrey Yamamoto

    COO AS OF 3/1/22

    Total calculated
    $205,485
    From this org
    $205,485
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,636
    Bonus
    $0
    Other
    $6,849
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $205,485

  • Bernadette Cruz

    DIRECTOR OF OPERATIONS

    Total calculated
    $207,250
    From this org
    $207,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,222
    Bonus
    $5,000
    Other
    $10,028
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $207,250

  • Rohit Paul

    HEAD OF PEOPLE AS OF 5/23/22

    Total calculated
    $122,904
    From this org
    $122,904
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Joy Moh

    HEAD OF COMMUNICATIONS AS OF 6/27/22

    Total calculated
    $115,701
    From this org
    $115,701
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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 · Written employment contract
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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

The filer's explanations (Part III)

PART I, LINE 4A
A) TINA DOUNG - $69,228 SEVERANCE PAYMENT. B) SEPARATED FROM COMPANY.

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202313199349323746

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

The source document this was parsed from is served over the API, which is where bulk and document access live.