Form 990 for tax year 2024
Filed by ASIAN REAL ESTATE ASSOCIATION OF AMERICA.
Totals
- Total revenue
- $2,474,151
- Total expenses
- $2,464,854
- Contributions and grants received
- $501,042
- Grants paid
- $1,000
- Program service revenue
- $1,973,088
- Investment income
- $21
- Other revenue
- $0
- Total assets, end of year
- $2,374,223
- Total liabilities, end of year
- $459,297
- Net assets or fund balances, end of year
- $1,914,926
- Program services expenses (Part IX)
- $2,077,004
- Management and general expenses
- $387,850
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,077,004
Program services were 84.3% 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.
-
1b · Membership dues
$493,542
-
1f · All other contributions, gifts and grants
$7,500
-
2a · Program service revenue: contributions
total $1,737,105 · related or exempt $1,737,105
-
2b · Program service revenue: registration
total $235,983 · related or exempt $235,983
-
3 · Investment income
total $21 · unrelated business $21
-
8c · Net income from fundraising events
total $0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,000 · program services $1,000
-
4 · Benefits paid to or for members
total $374,321 · program services $374,321
-
5 · Compensation of officers, directors and key employees
total $188,740 · program services $124,470 · management and general $64,270
-
7 · Other salaries and wages
total $250,818 · program services $175,575 · management and general $75,243
-
9 · Other employee benefits
total $35,698 · program services $24,989 · management and general $10,709
-
10 · Payroll taxes
total $200,148 · program services $140,104 · management and general $60,044
-
11b · Fees: legal
total $27,564 · program services $19,911 · management and general $7,653
-
11c · Fees: accounting
total $39,803 · management and general $39,803
-
11g · Fees: other
total $95,610 · program services $90,537 · management and general $5,073
-
12 · Advertising and promotion
total $87,740 · program services $84,553 · management and general $3,187
-
13 · Office expenses
total $101,964 · program services $74,086 · management and general $27,878
-
14 · Information technology
total $72,217 · program services $71,837 · management and general $380
-
16 · Occupancy
total $38,879 · program services $19,439 · management and general $19,440
-
17 · Travel
total $179,410 · program services $165,057 · management and general $14,353
-
19 · Conferences, conventions and meetings
total $682,146 · program services $681,782 · management and general $364
-
20 · Interest
total $5,938 · program services $4,156 · management and general $1,782
-
21 · Payments to affiliates
total $11,500 · program services $2,500 · management and general $9,000
-
22 · Depreciation, depletion and amortization
total $11,692 · management and general $11,692
-
23 · Insurance
total $10,567 · program services $7,397 · management and general $3,170
-
24a · Other expenses: Bank Charges
total $3,200 · program services $2,610 · management and general $590
-
24b · Other expenses: Licenses Fees & Taxes
total $7,432 · program services $5,946 · management and general $1,486
-
24c · Other expenses: Payroll Fees
total $13,467 · program services $6,734 · management and general $6,733
-
24d · Other expenses: Investment Expense
total $25,000 · management and general $25,000
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,211,503 · end of year $1,338,339
-
2 · Savings and temporary cash investments
beginning of year $95,516 · end of year $95,537
-
4 · Accounts receivable
beginning of year $260,817 · end of year $225,032
-
10a · Land, buildings and equipment: cost or other basis
$818,402
-
10b · Land, buildings and equipment: accumulated depreciation
$120,790
-
10c · Land, buildings and equipment, net
beginning of year $707,545 · end of year $697,612
-
15 · Other assets
beginning of year $68,068 · end of year $17,703
-
17 · Accounts payable and accrued expenses
beginning of year $181,373 · end of year $243,380
-
19 · Deferred revenue
beginning of year $91,252 · end of year $57,783
-
24 · Unsecured notes and loans payable
beginning of year $155,050 · end of year $151,285
-
25 · Other liabilities
beginning of year $10,145 · end of year $6,849
-
27 · Net assets without donor restrictions
beginning of year $1,905,629 · end of year $1,914,926
Mission and programs · 2024
Mission
The organizations purpose is to educate and help the growth of home ownership for minorities in the United States of America.
-
The organization purpose is to educate and create sustainable home ownership for minorities in the United States of America.
Expenses $2,077,004
As filed on the 2024 return.
Listed in Part VII
-
Tim Hur
President
- Total calculated
- $0
- Hours/week
- 5
-
Helen Nguyen
Treasurer
- Total calculated
- $0
- Hours/week
- 3
-
Hope Atuel
Executive Director
- Total calculated
- $0
- Hours/week
- 45
-
Hanah Hua
Secretary
- Total calculated
- $0
- Hours/week
- 3
-
Allen Okamoto
AREAA National Founding Chairman
- Total calculated
- $0
- Hours/week
- 0
-
Jim Park
AREAA National Chairman Emeritus
- Total calculated
- $0
- Hours/week
- 0
-
Allen Chiang
AREAA Global Chairman
- Total calculated
- $0
- Hours/week
- 0
-
John Yen WOng
AREAA National Founding Chairman
- Total calculated
- $0
- Hours/week
- 0
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 5 August 2025
- IRS schema version
- 2024v5.2
- Source object
- 202502259349301040
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