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← ASIAN AMERICANS FOR EQUALITY INC

Form 990 for tax year 2022

Filed by ASIAN AMERICANS FOR EQUALITY INC.

What the amendment changed

Compared with the return it replaced , filed 15 November 2023. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$11,572,389
Total expenses
$8,834,611
Contributions and grants received
$6,192,301
Grants paid
$722,402
Program service revenue
$3,638,648
Investment income
$313
Other revenue
$1,741,127
Total assets, end of year
$31,717,627
Total liabilities, end of year
$21,658,808
Net assets or fund balances, end of year
$10,058,819
Program services expenses (Part IX)
$6,158,907
Management and general expenses
$2,654,247
Fundraising expenses
$21,457
Program service expenses (Part III)
$6,158,907

Program services were 69.7% 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.

  • 1e · Government grants (contributions)

    $1,672,766

  • 1f · All other contributions, gifts and grants

    $4,519,535

  • 2a · Program service revenue: BROWNFIELD REDEVELOPMENT CREDIT

    total $2,574,641 · related or exempt $2,574,641

  • 2b · Program service revenue: PROGRAM SERVICE FEES

    total $518,484 · related or exempt $518,484

  • 2c · Program service revenue: DEVELOPER FEES

    total $362,414 · related or exempt $362,414

  • 2d · Program service revenue: LOAN INTEREST

    total $148,383 · related or exempt $148,383

  • 2e · Program service revenue: PROGRAM INCOME

    total $30,460 · unrelated business $30,460

  • 2f · All other program service revenue

    total $4,266 · related or exempt $4,266

  • 3 · Investment income

    total $313 · excluded $313

  • 6a · Gross rents

    real property $1,471,362

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $1,471,362

  • 6d · Net rental income or loss

    total $1,471,362 · unrelated business $1,361,342 · excluded $110,020

  • 11a · Other revenue: MISCELLANEOUS

    total $269,765 · related or exempt $269,765

  • 11e · Other revenue, total

    $269,765

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $722,402 · program services $722,402

  • 5 · Compensation of officers, directors and key employees

    total $363,829 · program services $122,129 · management and general $241,700

  • 7 · Other salaries and wages

    total $2,885,152 · program services $2,008,098 · management and general $877,054

  • 8 · Pension plan contributions

    total $35,752 · program services $19,905 · management and general $15,847

  • 9 · Other employee benefits

    total $355,891 · program services $197,776 · management and general $158,115

  • 10 · Payroll taxes

    total $252,085 · program services $131,368 · management and general $120,717

  • 11b · Fees: legal

    total $39,227 · management and general $39,227

  • 11g · Fees: other

    total $683,707 · program services $396,591 · management and general $287,116

  • 12 · Advertising and promotion

    total $34,050 · program services $23,970 · management and general $10,080

  • 13 · Office expenses

    total $252,608 · program services $192,563 · management and general $60,045

  • 14 · Information technology

    total $74,574 · program services $74,574

  • 16 · Occupancy

    total $696,106 · program services $629,818 · management and general $66,288

  • 17 · Travel

    total $18,666 · program services $16,419 · management and general $2,247

  • 19 · Conferences, conventions and meetings

    total $204,796 · program services $174,911 · management and general $8,540 · fundraising $21,345

  • 20 · Interest

    total $588,491 · program services $503,085 · management and general $85,406

  • 22 · Depreciation, depletion and amortization

    total $446,226 · program services $275,039 · management and general $171,187

  • 23 · Insurance

    total $163,268 · program services $113,513 · management and general $49,755

  • 24a · Other expenses: MISC

    total $353,638 · program services $218,553 · management and general $135,085

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $201,769 · program services $150,289 · management and general $51,480

  • 24c · Other expenses: EQUIPMENT RENTAL

    total $163,515 · program services $64,055 · management and general $99,460

  • 24d · Other expenses: BAD DEBT

    total $147,571 · program services $13,166 · management and general $134,405

  • 24e · All other expenses

    total $151,288 · program services $110,683 · management and general $40,493 · fundraising $112

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,036,625 · end of year $1,829,479

  • 2 · Savings and temporary cash investments

    beginning of year $35,325 · end of year $423,832

  • 3 · Pledges and grants receivable

    beginning of year $1,691,912 · end of year $1,634,178

  • 4 · Accounts receivable

    beginning of year $17,534 · end of year $119,350

  • 9 · Prepaid expenses and deferred charges

    beginning of year $362,937 · end of year $294,678

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

    $13,427,020

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

    $3,014,087

  • 10c · Land, buildings and equipment, net

    beginning of year $10,668,215 · end of year $10,412,933

  • 13 · Investments: program-related

    beginning of year $5,446,292 · end of year $4,662,829

  • 15 · Other assets

    beginning of year $7,342,590 · end of year $12,340,348

  • 17 · Accounts payable and accrued expenses

    beginning of year $598,416 · end of year $638,277

  • 23 · Secured mortgages and notes payable

    beginning of year $10,466,866 · end of year $8,332,213

  • 24 · Unsecured notes and loans payable

    beginning of year $605,073

  • 25 · Other liabilities

    beginning of year $7,610,034 · end of year $12,688,318

  • 27 · Net assets without donor restrictions

    beginning of year $6,855,990 · end of year $9,019,412

  • 28 · Net assets with donor restrictions

    beginning of year $465,051 · end of year $1,039,407

Mission and programs · 2022

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.

  • HOUSING, IMMIGRATION AND SOCIAL SERVICESTHE 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 PROVIDES MULTILINGUAL ASSISTANCE IN ENGLISH, CHINESE, SPANISH AND KOREAN TO HELP PREVENT HOUSING DISPLACEMENT, CONNECT LOW-INCOME COMMUNITY MEMBERS WITH ESSENTIAL SOCIAL SERVICES AND IMMIGRATION ASSISTANCE.

    Expenses $2,083,834 · Grants $722,402 · Revenue $3,877,953

  • PLANNING AND DEVELOPMENTIN THE PAST THREE DECADES, ASIAN AMERICANS FOR EQUALITY HAS DEVELOPED AND PRESERVED MORE THAN 1,200 AFFORDABLE APARTMENTS IN IMMIGRANT 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, PROVIDING 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 PROGRAM.

    Expenses $1,769,531

  • COMMUNITY OUTREACH AND EDUCATIONAAFE'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 $1,000,911

  • OPERATIONS AS HARDESTY STORAGE, A MONTH-TO-MONTH STORAGE RENTAL OPERATION, AND A UHAUL RENTAL BUSINESS.

    Expenses $1,304,631

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

Listed in Part VII

  • CATHERINE KIM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DONNA CHIU

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HEIDIE JOO BURWELL

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JACQUELINE HUEY

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 11 related

  • JOHN LEO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KENNETH COHEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LYDIA TOM

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10 + 2.25 related

  • PEGGY CHAN

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • PING DANG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • TIMOTHY WONG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • TOBY S BABA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WENDY TAKAHISA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JENNIFER SUN

    CO-EXECUTIVE DIRECTOR (OUTGOING)

    Total calculated
    $191,032
    From this org
    $160,060
    From related orgs
    $0
    Other
    $30,972
    Hours/week
    23 + 15 related

    Schedule J breakdown matched by us

    Base
    $160,060
    Bonus
    $0
    Other
    $0
    Deferred
    $3,245
    Nontaxable benefits
    $27,727
    Filer's total
    $191,032

  • JOY SUZANNE GRANADO

    CHIEF ACCOUNTING OFFICER

    Total calculated
    $107,038
    From this org
    $96,262
    From related orgs
    $0
    Other
    $10,776
    Hours/week
    35 + 14 related

  • MY CHANG

    CHIEF OF STAFF

    Total calculated
    $65,759
    From this org
    $63,838
    From related orgs
    $0
    Other
    $1,921
    Hours/week
    35 + 12 related

  • THOMAS YU

    CO-EXECUTIVE DIRECTOR

    Total calculated
    $321,349
    From this org
    $0
    From related orgs
    $268,262
    Other
    $53,087
    Hours/week
    23 + 16 related

    Schedule J breakdown matched by us

    Base
    $0 + $268,262 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,008 related
    Nontaxable benefits
    $0 + $46,079 related
    Filer's total
    $0 + $321,349 related

  • ANDREA ALEXOPOULOS

    SENIOR PROJECT MANAGER

    Total calculated
    $133,833
    From this org
    $109,528
    From related orgs
    $0
    Other
    $24,305
    Hours/week
    35

  • EDWARD LITVAK

    DIRECTOR OF MARKETING AND

    Total calculated
    $153,150
    From this org
    $116,937
    From related orgs
    $0
    Other
    $36,213
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $116,937
    Bonus
    $0
    Other
    $0
    Deferred
    $3,319
    Nontaxable benefits
    $32,894
    Filer's total
    $153,150

  • EMILY RIOS

    DIRECTOR OF COMMUNITY SERV

    Total calculated
    $189,138
    From this org
    $153,185
    From related orgs
    $0
    Other
    $35,953
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $153,185
    Bonus
    $0
    Other
    $0
    Deferred
    $4,629
    Nontaxable benefits
    $31,324
    Filer's total
    $189,138

  • ETHEL COFFINAS

    DIRECTOR OF HUMAN RESOURCE

    Total calculated
    $195,290
    From this org
    $144,669
    From related orgs
    $0
    Other
    $50,621
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $144,669
    Bonus
    $0
    Other
    $0
    Deferred
    $4,629
    Nontaxable benefits
    $45,992
    Filer's total
    $195,290

  • HUI-YUAN NELSON CHAN

    DIRECTOR OF REAL ESTATE DE

    Total calculated
    $204,047
    From this org
    $160,307
    From related orgs
    $0
    Other
    $43,740
    Hours/week
    35 + 10 related

    Schedule J breakdown matched by us

    Base
    $160,307
    Bonus
    $0
    Other
    $0
    Deferred
    $5,197
    Nontaxable benefits
    $38,543
    Filer's total
    $204,047

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 $4,266 · assets $3,984,732

    Directly controlled by ASIAN AMERICANS FOR EQUALITY INC

  • ONE HARDESTY LLC

    OPERATE A STORAGE FACILITY · MO · income $1,361,342 · assets $5,937,918

    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 -$189,493 · share of assets $18,338,335 · 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

    RELATED · PROVIDE AFFORDABLE RENTAL HOUSING · NY · 60% owned · share of income $572,639 · share of assets $2,777,725 · general or managing partner

    Directly controlled by ASIAN AMERICANS FOR EQUALITY

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202403539349300740

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