Totals
- Total revenue
- $2,114,265
- Total expenses
- $1,946,901
- Contributions and grants received
- $2,016,989
- Grants paid
- $580,000
- Program service revenue
- $18,100
- Investment income
- $79,176
- Other revenue
- $0
- Total assets, end of year
- $3,478,722
- Total liabilities, end of year
- $312,015
- Net assets or fund balances, end of year
- $3,166,707
- Program services expenses (Part IX)
- $1,477,170
- Management and general expenses
- $469,731
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,477,170
Program services were 75.9% 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
$2,016,989
-
1g · Noncash contributions included above
$48,000
-
2a · Program service revenue: CONFERENCE REVENUE
total $18,100 · related or exempt $18,100
-
3 · Investment income
total $79,176 · excluded $79,176
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $580,000 · program services $580,000
-
11a · Fees: management
total $460,000 · management and general $460,000
-
11c · Fees: accounting
total $3,296 · management and general $3,296
-
11f · Fees: investment management
total $150 · management and general $150
-
11g · Fees: other
total $24,500 · program services $24,500
-
13 · Office expenses
total $261 · program services $217 · management and general $44
-
17 · Travel
total $35,000 · program services $35,000
-
19 · Conferences, conventions and meetings
total $528,576 · program services $527,576 · management and general $1,000
-
21 · Payments to affiliates
total $300,000 · program services $300,000
-
23 · Insurance
total $3,183 · management and general $3,183
-
24a · Other expenses: SUBSCRIPTIONS
total $11,935 · program services $9,877 · management and general $2,058
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $856,131 · end of year $779,556
-
3 · Pledges and grants receivable
beginning of year $100,000 · end of year $180,000
-
9 · Prepaid expenses and deferred charges
beginning of year $52,645 · end of year $82,304
-
11 · Investments: publicly traded securities
beginning of year $2,356,061 · end of year $2,435,087
-
15 · Other assets
beginning of year $1,775 · end of year $1,775
-
17 · Accounts payable and accrued expenses
beginning of year $68,515 · end of year $5,000
-
25 · Other liabilities
beginning of year $298,754 · end of year $307,015
-
27 · Net assets without donor restrictions
beginning of year $2,594,343 · end of year $2,751,707
-
28 · Net assets with donor restrictions
beginning of year $405,000 · end of year $415,000
Mission and programs · 2025
Mission
TO IMPROVE THE QUALITY OF LIFE FOR ASIAN AND PACIFIC ISLANDER AMERICANS BY ASSISTING THE ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) AND ALL SMALL BUSINESS COMMUNITIES THROUGH BUSINESS EDUCATION AND TRAINING, RESEARCH, AND COMMUNITY DEVELOPMENT.
Activities or mission (Part I)
IMPROVE THE QUALITY OF LIFE FOR ALL SMALL BUSINESSES THROUGH BUSINESS EDUCATION.
-
EDUCATION - ACE FOUNDATION WORKS TO EDUCATE ALL SMALL BUSINESS COMMUNITIES ON ISSUES THAT WILL DIRECTLY IMPROVE THEIR ECONOMIC, POLITICAL, AND SOCIAL WELL-BEING. ACE FOUNDATION HOSTS EVENTS AIMED TO HELP EDUCATE ALL BUSINESS COMMUNITIES. THESE EVENTS INCLUDE ROUNDTABLES AND SYMPOSIUMS COORDINATED WITH FEDERAL GOVERNMENT AGENCIES. MANY OF THESE EVENTS ARE VIRTUAL WEBINARS WHICH COVER TOPICS AROUND ACCESS TO CAPITAL, CONTRACTING OPPORTUNITIES, GRANT WRITING, RETIREMENT SECURITY, FINANCIAL CAPACITY, AND CHALLENGES FACING MINORITY BUSINESS OWNERS.
Expenses $503,643 · Grants $47,500
-
ECONOMIC DEVELOPMENT - ACE FOUNDATION EDUCATES LOCAL AND REGIONAL CHAMBERS OF COMMERCE, MOU PARTNERS, AND OTHER STAKEHOLDERS ACROSS THE COUNTRY TO PROVIDE INNOVATIVE BUSINESS SOLUTIONS THROUGH QUALITY PROGRAMS AND SERVICES. ACE FOUNDATION ALSO CONTRIBUTES TO OUR NATION'S ECONOMIC GROWTH, BUSINESS DEVELOPMENT, AND GOVERNMENT EFFICIENCY BY SUPPORTING PROGRAMS AND POLICIES THAT CREATE MORE AAPI BUSINESS OWNERS, ENTREPRENEURS, AND CORPORATE LEADERS.
Expenses $488,527 · Grants $47,500
-
SMALL BUSINESS PRIORITY - SMALL BUSINESS IS A NATIONAL CALL-TO-ACTION PROGRAM POWERED BY THE NATIONAL ASIAN/PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE AND ENTREPRENEURSHIP (NATIONAL ACE). THE PROGRAM'S PRIMARY GOAL IS TO CONVENE OUR NETWORK OF BUSINESS ORGANIZATIONS, ENTREPRENEURS, CORPORATE LEADERS, AND STAKEHOLDERS TO ADVANCE EQUITY, JUSTICE, AND OPPORTUNITY FOR COMMUNITIES EVERYWHERE. THE SMALL BUSINESS PRIORITY PROGRAM FOSTERS THE WELLBEING OF THESE VITAL INSTITUTIONS BY PROVIDING TECHNICAL ASSISTANCE ON BUSINESS RESILIENCE, RESOURCES ON BUSINESS RECOVERY, INFORMATION ON STARTING, GROWING, OR RETAINING A BUSINESS, AND CREATING AVENUES FOR EDUCATION ON ACCESS TO CAPITAL AND CONTRACTING.
Expenses $485,000 · Grants $485,000 · Revenue $18,100
As filed on the 2025 return.
Listed in Part VII
-
Jimmy FergusonJIMMY FERGUSON
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Bin YuBIN YU
DIRECTOR (THRU MAY); TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Angela ChangANGELA CHANG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Cy ChenCY CHEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Melody ChenMELODY CHEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kevin ChowKEVIN CHOW
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Susan Jin DavisSUSAN JIN DAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tammy FunasakiTAMMY FUNASAKI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dennis HuangDENNIS HUANG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Bill ImadaBILL IMADA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Narumi InatsuguNARUMI INATSUGU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Shau-Wai LamSHAU-WAI LAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael TyMICHAEL TY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Fa'Amoana Uta'IFA'AMOANA UTA'I
DIRECTOR (THRU MARCH)
- Total calculated
- $0
- Hours/week
- 1
-
Tianyi ZhuTIANYI ZHU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chiling TongCHILING TONG
PRESIDENT AND CEO
- Total calculated
- $0
- Hours/week
- 2
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.
Schedule J
Answered yes
None.
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
The filer's explanations (Part III)
- PART I, LINE 3
- THE FOUNDATION DOES NOT DIRECTLY HIRE OR COMPENSATE EMPLOYEES. ALL EMPLOYEES ARE EMPLOYEES OF ASIAN & PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE & ENTREPRENEURSHIP (ACE), AN AFFILIATED ORGANIZATION EXEMPT UNDER SECTION 501(C)(6). ACE'S BOARD OF DIRECTORS ESTABLISHES AND APPROVES THE COMPENSATION FOR ITS PRESIDENT & CEO. ACE'S EXECUTIVE/GOVERNANCE COMMITTEE REVIEWS COMPENSATION FINDINGS AND PROVIDES RECOMMENDATIONS AND GUIDANCE ON THE COMPENSATION PACKAGE. AFTER REVIEWING THE REPORT FINDINGS AND CONSIDERING THE DATA REGARDING COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED INDIVIDUALS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS, THE EXECUTIVE/GOVERNANCE COMMITTEE TAKES ACTION AND RECOMMENDS THE COMPENSATION PACKAGE FOR THE PRESIDENT & CEO. THE PROCESS WAS LAST CONDUCTED IN DECEMBER 2024.
- FORM 990, PART VII, SECTION A, LINE 5
- THE ASIAN & PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE & ENTREPRENEURSHIP COMPENSATED CHILING TONG, THE PRESIDENT AND CEO OF THE ACE FOUNDATION.
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
-
ASIAN AMERICAN ARTS ALLIANCE INC
$95,000
SUPPORT THE NATIONAL MUSEUM OF ASIAN PACIFIC AMERICAN HISTORY AND CULTURE
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 29 July 2026
- IRS schema version
- 2025v4.2
- Source object
- 202632119349300218
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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