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← ASIAN AND PACIFIC ISLANDER AMERICAN SCHOLARSHIP FUND

Form 990 for tax year 2022

Filed by ASIAN AND PACIFIC ISLANDER AMERICAN SCHOLARSHIP FUND.

Totals

Total revenue
$13,739,648
Total expenses
$13,353,566
Contributions and grants received
$12,809,265
Grants paid
$7,417,648
Program service revenue
$0
Investment income
$897,603
Other revenue
$32,780
Total assets, end of year
$39,856,314
Total liabilities, end of year
$6,423,476
Net assets or fund balances, end of year
$33,432,838
Program services expenses (Part IX)
$9,816,100
Management and general expenses
$3,197,146
Fundraising expenses
$340,320
Program service expenses (Part III)
$9,816,100

Program services were 73.5% 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

    $12,809,265

  • 1g · Noncash contributions included above

    $1,713

  • 3 · Investment income

    total $897,603 · excluded $897,603

  • 11a · Other revenue: OTHER REVENUE

    total $32,780 · excluded $32,780

  • 11e · Other revenue, total

    $32,780

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $7,417,648 · program services $7,417,648

  • 5 · Compensation of officers, directors and key employees

    total $831,488 · program services $265,887 · management and general $410,703 · fundraising $154,898

  • 7 · Other salaries and wages

    total $2,134,607 · program services $1,140,568 · management and general $919,282 · fundraising $74,757

  • 8 · Pension plan contributions

    total $24,583 · program services $2,540 · management and general $15,761 · fundraising $6,282

  • 9 · Other employee benefits

    total $115,686 · program services $24,069 · management and general $73,105 · fundraising $18,512

  • 10 · Payroll taxes

    total $219,229 · program services $27,986 · management and general $151,327 · fundraising $39,916

  • 11b · Fees: legal

    total $24,183 · management and general $24,183

  • 11c · Fees: accounting

    total $45,216 · management and general $45,216

  • 11f · Fees: investment management

    total $65,000 · management and general $65,000

  • 11g · Fees: other

    total $1,289,798 · program services $587,368 · management and general $702,286 · fundraising $144

  • 12 · Advertising and promotion

    total $38,583 · program services $504 · management and general $36,773 · fundraising $1,306

  • 13 · Office expenses

    total $174,197 · program services $65,004 · management and general $98,973 · fundraising $10,220

  • 14 · Information technology

    total $166,103 · program services $86,423 · management and general $79,680

  • 16 · Occupancy

    total $282,499 · program services $12,000 · management and general $270,499

  • 17 · Travel

    total $242,669 · program services $102,803 · management and general $109,354 · fundraising $30,512

  • 19 · Conferences, conventions and meetings

    total $74,872 · program services $22,145 · management and general $52,727

  • 22 · Depreciation, depletion and amortization

    total $44,675 · management and general $44,675

  • 23 · Insurance

    total $24,316 · management and general $24,316

  • 24a · Other expenses: DUES & SUBSCRIPTIONS

    total $72,872 · program services $37,155 · management and general $31,944 · fundraising $3,773

  • 24b · Other expenses: GIFTS

    total $27,213 · program services $15,000 · management and general $12,213

  • 24c · Other expenses: PAYROLL FEES

    total $15,967 · management and general $15,967

  • 24d · Other expenses: EQUIP. RENTAL & MAINT.

    total $13,754 · program services $1,000 · management and general $12,754

  • 24e · All other expenses

    total $8,408 · program services $8,000 · management and general $408

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $485,810 · end of year $492,449

  • 2 · Savings and temporary cash investments

    beginning of year $4,506,323 · end of year $16,179,984

  • 3 · Pledges and grants receivable

    beginning of year $3,509,138 · end of year $1,259,015

  • 9 · Prepaid expenses and deferred charges

    beginning of year $122,346 · end of year $52,850

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

    $525,205

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

    $114,511

  • 10c · Land, buildings and equipment, net

    beginning of year $242,031 · end of year $410,694

  • 11 · Investments: publicly traded securities

    beginning of year $26,775,330 · end of year $19,050,141

  • 15 · Other assets

    beginning of year $2,045,848 · end of year $2,411,181

  • 17 · Accounts payable and accrued expenses

    beginning of year $240,762 · end of year $263,119

  • 18 · Grants payable

    beginning of year $1,983,086 · end of year $3,136,775

  • 19 · Deferred revenue

    beginning of year $122,500 · end of year $215,759

  • 25 · Other liabilities

    beginning of year $2,381,029 · end of year $2,807,823

  • 27 · Net assets without donor restrictions

    beginning of year $26,509,303 · end of year $25,521,488

  • 28 · Net assets with donor restrictions

    beginning of year $6,450,146 · end of year $7,911,350

Mission and programs · 2022

Mission

OUR MISSION IS TO MAKE A DIFFERENCE IN THE LIVES OF APIA STUDENTS BY PROVIDING THEM WITH RESOURCES THAT INCREASE THEIR ACCESS TO HIGHER EDUCATION WHICH SERVES AS THE FOUNDATION FOR THEIR FUTURE SUCCESS AND CONTRIBUTIONS TO A MORE VIBRANT AMERICA. (CONTINUED ON SCHEDULE O)

Activities or mission (Part I)

SEE PART III, LINE 1.

  • COLLEGE ACCESS: APIA SCHOLARS MANAGES THE APIA SCHOLARSHIP, THE AANAPISI SCHOLARSHIP, THE APIA SCHOLARS EMERGENCY FUND, AND THE GATES MILLENNIUM SCHOLARS/ASIAN PACIFIC ISLANDER AMERICANS FUND. THROUGH THESE SCHOLARSHIP PROGRAMS, APIA SCHOLARS HAS DISTRIBUTED MORE THAN $150 MILLION IN COLLEGE SCHOLARSHIPS TO MORE THAN 8,100 DESERVING ASIAN AND PACIFIC ISLANDER AMERICAN (APIA) STUDENTS ACROSS THE COUNTRY AND IN THE PACIFIC ISLANDS. OUR FOCUS ON MULTI-YEAR SCHOLARSHIPS REMOVES FINANCIAL BARRIERS WHILE PROMOTING DEGREE ATTAINMENT.

    Expenses $7,839,888 · Grants $7,417,648

  • STUDENT SUCCESS AND CAREER DEVELOPMENTSTUDENT SUCCESS PROGRAMS FOCUS ON REDUCING FINANCIAL BARRIERS TO COLLEGE COMPLETION FOR AANHPI COLLEGE STUDENTS, WITH A PRIMARY FOCUS ON FIRST-TIME APIA SCHOLARS AND AANAPISI RECIPIENTS. THROUGH DIFFERENT ACCESS POINTS, SCHOLARS ARE PROVIDED CONTINUOUS SUPPORT AND ENGAGEMENT WITH APIA SCHOLARS THROUGH THE FOLLOWING: BUILDING AN ENGAGED SCHOLAR COMMUNITY; PROVIDING PROACTIVE GUIDANCE TO SCHOLARS ON NAVIGATING FINANCIAL EXPERIENCES; PROVIDING INTERNSHIP AND CAREER RESOURCES TO HELP SCHOLARS ACCESS AND MAINTAIN FINANCIAL WELLNESS. EVENTS, WORKSHOPS, AND DIRECT SCHOLAR SUPPORT HIGHLIGHT THE WAYS IN WHICH WELL-BEING, COMMUNITY BUILDING, AND IDENTITY AFFIRMATION SUPPORT STUDENTS IN NAVIGATING THE CURRICULUM OF COLLEGE.

    Expenses $1,445,057

  • BUILDING KNOWLEDGE: OUR RESEARCH PLACES SCHOLARS AT THE CENTER AND INFORMS POLICYMAKERS, HIGHER EDUCATION LEADERS, AND OTHER COMMUNITY STAKEHOLDERS TO INCREASE EDUCATIONAL OPPORTUNITIES AND SUCCESS FOR APIA STUDENTS. THROUGH APIA DATA STORIES WE HIGHLIGHT CRITICAL AREAS OF SUPPORT FOR APIA STUDENTS NATIONWIDE, PROVIDING CURRENT AND RELEVANT DATA THAT EQUIP INSTITUTIONS TO PROVIDE CULTURALLY COMPETENT INTERVENTIONS IN STEP WITH THE TRENDS OF INCOMING COLLEGE STUDENTS. BASED ON OUR ANNUAL SURVEY OF SCHOLARSHIP APPLICANTS, DATA STORIES ILLUSTRATE THE NEED AND IMPACT OF SCHOLARSHIPS WHILE REVEALING APIA GROUPS THAT CONTINUE TO BE UNDERSERVED AND UNDERREPRESENTED. APIA SCHOLARS' NATIVE HAWAIIAN PACIFIC ISLANDER (NHPI) RESEARCH INITIATIVE IS AN ONGOING (CONTINUED ON SCHEDULE O)COLLABORATION WITH AANAPISI CAMPUSES SERVING SIGNIFICANT NUMBERS OF NHPI STUDENTS IN THE U.S.-AFFILIATED PACIFIC ISLANDS, HAWAI'I AND THE U.S. CONTINENT. THE APPLIED RESEARCH FELLOWSHIP PROGRAM ENABLES OUTSTANDING APIA SCHOLARS ALUMNI PURSUING FULL-TIME MASTERS AND DOCTORAL DEGREES TO PLAY A SIGNIFICANT ROLE IN ADVANCING THE ORGANIZATION'S STUDENT RESEARCH AND ADVOCACY AGENDA. FELLOWS ENGAGE IN PROJECTS INFORMING THE EDUCATIONAL AND WORKFORCE TRAJECTORY OF APIA STUDENTS ACROSS THE NATION, INCLUDING MENTAL HEALTH & WELLBEING, LEADERSHIP & CIVIC ENGAGEMENT, ENGLISH LEARNERS, AND ANTI-ASIAN RACISM.

    Expenses $531,155

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

Listed in Part VII

  • Aimee Meher-Homji

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    10

  • Eugene Chasin

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Wally Suphap

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Jason Wong

    FINANCE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Jacinta Titiali'I-Abbott

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Sefa Aina

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Pooneh Fracyon Butler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • J Weili Cheng

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • William Cho

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jennifer J Kananionapua Peru Gary

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Nancy Lee

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Lindsay Lee Aulaniki'Ikina Ah Loo

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Scott Loretan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jeff Luong

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Bill Moses

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Nidhi Munjal

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Doug Murtha

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Dr Rowena Tomaneng

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Hans Yang

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Noel Harmon

    PRESIDENT & EXECUTIVE DIRECTOR

    Total calculated
    $438,561
    From this org
    $407,083
    From related orgs
    $0
    Other
    $31,478
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $347,583
    Bonus
    $59,500
    Other
    $0
    Deferred
    $2,630
    Nontaxable benefits
    $28,848
    Filer's total
    $438,561

  • Michelle Cohenour

    VP & CHIEF OF STAFF

    Total calculated
    $199,243
    From this org
    $184,355
    From related orgs
    $0
    Other
    $14,888
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,355
    Bonus
    $0
    Other
    $0
    Deferred
    $3,706
    Nontaxable benefits
    $11,182
    Filer's total
    $199,243

  • Michelle Kim

    CFO, (FROM 8/1/22)

    Total calculated
    $73,860
    From this org
    $68,489
    From related orgs
    $0
    Other
    $5,371
    Hours/week
    40

  • Julie Ajinkya

    SVP & CHIEF STRATEGY OFFICER

    Total calculated
    $238,598
    From this org
    $226,563
    From related orgs
    $0
    Other
    $12,035
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,213
    Bonus
    $14,350
    Other
    $0
    Deferred
    $3,683
    Nontaxable benefits
    $8,352
    Filer's total
    $238,598

  • Shyam Gadwal

    VP OF PROGRAMS

    Total calculated
    $164,393
    From this org
    $155,747
    From related orgs
    $0
    Other
    $8,646
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,497
    Bonus
    $8,750
    Other
    $22,500
    Deferred
    $625
    Nontaxable benefits
    $8,021
    Filer's total
    $164,393

  • Stacy Lewis

    AVP OF DEVELOPMENT

    Total calculated
    $128,070
    From this org
    $121,505
    From related orgs
    $0
    Other
    $6,565
    Hours/week
    40

  • Elena Anderson

    FORMER CFO

    Total calculated
    $227,826
    From this org
    $221,313
    From related orgs
    $0
    Other
    $6,513
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $29,646
    Bonus
    $0
    Other
    $191,667
    Deferred
    $383
    Nontaxable benefits
    $6,130
    Filer's total
    $227,826

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 committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4A
THE FOLLOWING INDIVIDUALS RECEIVED SEVERANCE PACKAGES DURING THE YEAR: ELENA ANDERSON $191,667 SHYAM GADWAL $22,500
PART I, LINE 7
DURING THE YEAR, THE FOLLOWING INDIVIDUALS RECEIVED BONUS COMPENSATION: NOEL HARMON $59,500 JULIE AJINKYA $14,350 SHYAM GADWAL $8,750

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
26 April 2024
IRS schema version
2022v5.0
Source object
202431179349300213

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