Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $416,508

• 1d · Related organizations

  $27,464

• 1e · Government grants (contributions)

  $79,800,269

• 1f · All other contributions, gifts and grants

  $10,551,871

• 1g · Noncash contributions included above

  $42,233

• 3 · Investment income

  total $166,226 · excluded $166,226

• 7a · Gross sales of assets other than inventory

  securities $3,127,658 · other assets $173,435

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

  securities $2,479,595 · other assets $126,307

• 7c · Gain or loss

  securities $648,063 · other assets $47,128

• 7d · Net gain or loss

  total $695,191 · excluded $695,191

• 8a · Fundraising events: gross income

  $59,400

• 8a · Fundraising events: contributions included on line 1c

  $416,508

• 8b · Fundraising events: direct expenses

  $212,476

• 8c · Net income from fundraising events

  total -$153,076 · excluded -$153,076

• 11a · Other revenue: CREDIT CARD REBATE

  total $21,888 · excluded $21,888

• 11b · Other revenue: REFUNDS

  total $7,166 · excluded $7,166

• 11e · Other revenue, total

  $29,054

Functional expenses

Part IX, the statement of functional expenses.

• 3 · Grants to foreign organizations and individuals

  total $17,525,257 · program services $17,525,257

• 5 · Compensation of officers, directors and key employees

  total $3,050,769 · program services $607,707 · management and general $2,353,389 · fundraising $89,673

• 7 · Other salaries and wages

  total $31,709,563 · program services $26,642,776 · management and general $4,973,843 · fundraising $92,944

• 8 · Pension plan contributions

  total $2,274,705 · program services $1,762,258 · management and general $505,004 · fundraising $7,443

• 9 · Other employee benefits

  total $12,260,390 · program services $11,142,986 · management and general $1,093,199 · fundraising $24,205

• 10 · Payroll taxes

  total $7,064,395 · program services $5,102,313 · management and general $1,916,670 · fundraising $45,412

• 11b · Fees: legal

  total $146,393 · management and general $146,393

• 11c · Fees: accounting

  total $211,976 · program services $25,329 · management and general $186,647

• 11f · Fees: investment management

  total $54,067 · management and general $54,067

• 11g · Fees: other

  total $392,297 · management and general $329,832 · fundraising $62,465

• 12 · Advertising and promotion

  total $46,200 · fundraising $46,200

• 13 · Office expenses

  total $2,068,952 · program services $1,033,442 · management and general $1,015,910 · fundraising $19,600

• 14 · Information technology

  total $74,364 · management and general $74,364

• 16 · Occupancy

  total $2,818,635 · program services $2,283,212 · management and general $518,233 · fundraising $17,190

• 17 · Travel

  total $5,059,357 · program services $4,846,303 · management and general $178,662 · fundraising $34,392

• 19 · Conferences, conventions and meetings

  total $3,665,331 · program services $2,624,046 · management and general $915,083 · fundraising $126,202

• 22 · Depreciation, depletion and amortization

  total $363,712 · program services $233,226 · management and general $130,486

• 23 · Insurance

  total $268,714 · program services $166,158 · management and general $101,298 · fundraising $1,258

• 24a · Other expenses: SUBCONTRACTS

  total $7,654,523 · program services $7,654,523

• 24e · All other expenses

  total $265 · management and general $265

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $322,550 · end of year $508,754

• 2 · Savings and temporary cash investments

  beginning of year $20,112,203 · end of year $31,873,034

• 3 · Pledges and grants receivable

  beginning of year $14,925,565 · end of year $8,717,071

• 4 · Accounts receivable

  beginning of year $736,178 · end of year $386,565

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,794,498 · end of year $2,270,918

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

  $4,697,591

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

  $4,175,482

• 10c · Land, buildings and equipment, net

  beginning of year $970,365 · end of year $522,109

• 11 · Investments: publicly traded securities

  beginning of year $46,843,661 · end of year $49,094,197

• 13 · Investments: program-related

  end of year $66,182

• 15 · Other assets

  beginning of year $4,469,474 · end of year $3,574,650

• 17 · Accounts payable and accrued expenses

  beginning of year $9,917,232 · end of year $9,405,285

• 19 · Deferred revenue

  beginning of year $38,206,753 · end of year $48,645,016

• 25 · Other liabilities

  beginning of year $4,086,719 · end of year $3,385,828

• 27 · Net assets without donor restrictions

  beginning of year $24,366,675 · end of year $21,646,571

• 28 · Net assets with donor restrictions

  beginning of year $13,597,115 · end of year $13,930,780

The filer's explanations (Part III)

PART I, LINE 1A

TRAVEL FOR COMPANIONS: MEMBERS OF THE BOARD OF TRUSTEES ARE ELIGIBLE TO HAVE THEIR SPOUSES ACCOMPANY THEM ON BOARD OF TRUSTEES TRAVEL. SPOUSES ACCOMPANY BOARD MEMBERS IN COUNTRIES WHERE IT IS CUSTOMARY TO AND HELPFUL TO THE ORGANIZATION. IN THIS CASE, TAF PAYS FOR DOUBLE OCCUPANCY HOTEL ROOMS AND FOR GROUP MEALS, INCLUDING SPOUSES (BUT TAF DOES NOT PAY SPOUSE AIRFARE). NO PAYMENTS THAT TAF MAKES IN THIS REGARD ARE REPORTED AS COMPENSATION. HOUSING ALLOWANCE (TAXABLE COMPENSATION): THE ASIA FOUNDATION PAID RENT ON BEHALF OF THE FOLLOWING INDIVIDUALS AS PART OF THEIR COMPENSATION PACKAGE: JAIME FAUSTINO, MELONEY LINDBERG, TODD WASSEL, WINSTON K. CHOW, HECTOR SALAZAR SALAME, AND THOMAS PARKS IV. THESE PAYMENTS ARE MADE DIRECTLY TO LANDLORDS. THE ALLOWANCES WERE INCLUDED IN COMPENSATION REPORTED ON SCHEDULE J, PART II, COLUMN B (III). LAUREL E. MILLER, CEO AND PRESIDENT, RECEIVED HOUSING ASSISTANCE AS PART OF HER EMPLOYMENT AGREEMENT. THE AMOUNT WAS INCLUDED IN THE COMPENSATION REPORTED ON SCHEDULE J, PART II, COLUMN B (III).

PART I, LINE 4A

AMY OVALLE RECEIVED A SEVERANCE PAYMENT OF $117,500 DURING CALENDAR YEAR 2024.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• ASIA PACIFIC CONSULTING AND ADVISORY PRIVATE LIMITED

  INVESTMENT · IN · income $0 · assets $124,265

  Directly controlled by THE ASIA FOUNDATION

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUST (1)

  T · INVESTMENT · WA