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← ASIAN HEALTHCARE FOUNDATION OFMASSACHUSETTS INC

Form 990 for tax year 2023

Filed by ASIAN HEALTHCARE FOUNDATION OFMASSACHUSETTS INC.

Totals

Total revenue
$4,628,882
Total expenses
$661,679
Contributions and grants received
$2,000,000
Grants paid
$139,760
Program service revenue
$0
Investment income
$823,984
Other revenue
$1,804,898
Total assets, end of year
$23,956,811
Total liabilities, end of year
$22,700
Net assets or fund balances, end of year
$23,934,111
Program services expenses (Part IX)
$334,588
Management and general expenses
$327,091
Fundraising expenses
$0
Program service expenses (Part III)
$334,588

Program services were 50.6% 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.

  • 1d · Related organizations

    $2,000,000

  • 3 · Investment income

    total $823,984 · excluded $823,984

  • 6a · Gross rents

    real property $1,804,898

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $1,804,898

  • 6d · Net rental income or loss

    total $1,804,898 · related or exempt $1,804,898

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $129,760 · program services $129,760

  • 2 · Grants to domestic individuals

    total $10,000 · program services $10,000

  • 16 · Occupancy

    total $24,206 · management and general $24,206

  • 22 · Depreciation, depletion and amortization

    total $194,828 · program services $194,828

  • 24a · Other expenses: REAL ESTATE TAXES

    total $178,436 · management and general $178,436

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $83,892 · management and general $83,892

  • 24c · Other expenses: MISCELLANEOUS EXPENSES

    total $40,557 · management and general $40,557

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $630,504 · end of year $83,192

  • 2 · Savings and temporary cash investments

    beginning of year $14,191,505 · end of year $18,493,934

  • 9 · Prepaid expenses and deferred charges

    beginning of year $553 · end of year $560

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

    $8,606,504

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

    $3,557,146

  • 10c · Land, buildings and equipment, net

    beginning of year $4,670,460 · end of year $5,049,358

  • 15 · Other assets

    beginning of year $477,507 · end of year $329,767

  • 17 · Accounts payable and accrued expenses

    beginning of year $121 · end of year $0

  • 25 · Other liabilities

    beginning of year $3,500 · end of year $22,700

  • 27 · Net assets without donor restrictions

    beginning of year $19,966,908 · end of year $23,934,111

Mission and programs · 2023

Mission

TO SUPPORT THE ACTIVITIES OF SOUTH COVE COMMUNITY HEALTH CENTER INC.

  • TO SUPPORT THE ACTIVITIES OF SOUTH COVE COMMUNITY HEALTH CENTER INC. (EIN: 04-2501818). THIS ENTITY WAS ESTABLISHED FOR THIS PURPOSE AS BOTH ARE IRC 501 (C)(3) ENTITIES AND OPERATE AS SUCH.

    Expenses $334,588 · Grants $139,760 · Revenue $1,804,898

As filed on the 2023 return.

Listed in Part VII

  • Alvin Wing

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • April Tang

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Frederick Taw

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Herman Lee

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Janet Moy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Cindy Chen

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Eric Tiberi

    BOARD MEMBER

    Total calculated
    $487,034
    From this org
    $0
    From related orgs
    $458,489
    Other
    $28,545
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $288,284 related
    Bonus
    $0 + $170,205 related
    Other
    $0
    Deferred
    $0 + $14,414 related
    Nontaxable benefits
    $0 + $14,131 related
    Filer's total
    $0 + $487,034 related

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 · Written employment contract
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
CERTAIN INDIVIDUALS LISTED ON FORM 990, PART VII RECEIVE PERFORMANCE BASED BONUSES. SEE SCHEDULE J, PART II, COLUMN B(II).

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.

Provenance

Return type
form_990
Tax year
2023
Filed
9 April 2025
IRS schema version
2023v6.0
Source object
202521059349301402

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