Form 990 for tax year 2023
Filed by NATIONAL ASIAN & PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE & ENT.
Totals
- Total revenue
- $2,061,081
- Total expenses
- $2,188,892
- Contributions and grants received
- $1,253,590
- Grants paid
- $0
- Program service revenue
- $789,000
- Investment income
- $17,491
- Other revenue
- $1,000
- Total assets, end of year
- $1,725,009
- Total liabilities, end of year
- $119,582
- Net assets or fund balances, end of year
- $1,605,427
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
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.
-
1e · Government grants (contributions)
$155,559
-
1f · All other contributions, gifts and grants
$1,098,031
-
2a · Program service revenue: MANAGEMENT FEES
total $460,000 · related or exempt $460,000
-
2b · Program service revenue: PROGRAM SERVICE FEES
total $329,000 · related or exempt $329,000
-
3 · Investment income
total $17,491 · excluded $17,491
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $1,000 · excluded $1,000
-
11e · Other revenue, total
$1,000
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $322,068
-
7 · Other salaries and wages
total $560,075
-
8 · Pension plan contributions
total $1,576
-
9 · Other employee benefits
total $34,920
-
10 · Payroll taxes
total $61,143
-
11b · Fees: legal
total $5,375
-
11c · Fees: accounting
total $79,943
-
11f · Fees: investment management
total $2
-
11g · Fees: other
total $772,157
-
12 · Advertising and promotion
total $600
-
13 · Office expenses
total $35,547
-
14 · Information technology
total $1,107
-
16 · Occupancy
total $18,327
-
17 · Travel
total $85,549
-
19 · Conferences, conventions and meetings
total $154,983
-
22 · Depreciation, depletion and amortization
total $2,444
-
23 · Insurance
total $5,679
-
24a · Other expenses: SUBSCRIPTIONS
total $39,815
-
24b · Other expenses: DUES & MEMBERSHIPS
total $6,824
-
24c · Other expenses: LICENSE & PERMITS
total $758
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,517,061 · end of year $717,337
-
3 · Pledges and grants receivable
end of year $195,932
-
4 · Accounts receivable
beginning of year $25,000
-
9 · Prepaid expenses and deferred charges
beginning of year $29,331 · end of year $22,700
-
10a · Land, buildings and equipment: cost or other basis
$9,218
-
10b · Land, buildings and equipment: accumulated depreciation
$8,150
-
10c · Land, buildings and equipment, net
beginning of year $3,512 · end of year $1,068
-
11 · Investments: publicly traded securities
end of year $519,907
-
15 · Other assets
beginning of year $410,789 · end of year $268,065
-
17 · Accounts payable and accrued expenses
beginning of year $179,868 · end of year $119,582
-
25 · Other liabilities
beginning of year $75,006 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $1,248,319 · end of year $1,230,427
-
28 · Net assets with donor restrictions
beginning of year $482,500 · end of year $375,000
Mission and programs · 2023
Mission
TO IMPROVE THE QUALITY OF LIFE FOR ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) BY ASSISTING THE AAPI COMMUNITY THROUGH BUSINESS EDUCATION AND TRAINING, RESEARCH, AND COMMUNITY DEVELOPMENT.
Activities or mission (Part I)
ADVANCE THE ASIAN AMERICAN AND PACIFIC ISLANDER BUSINESS COMMUNITY BY FOSTERING ECONOMIC GROWTH.
-
AAPISTRONG - THE NATIONAL ACE WORKS WITH ASIAN AMERICAN AND PACIFIC ISLANDER BUSINESS COMMUNITIES THROUGH OUR VIRTUAL TECHNICAL ASSISTANCE PROGRAM TO PROVIDE SMALL BUSINESSES AND ENTREPRENEURS THE RESOURCES AND EDUCATION THEY NEED TO BE SUCCESSFUL. ACE'S GOAL IS TO HELP ORGANIZATIONS DEVELOP EFFECTIVE COMMUNICATIONS, MARKETING, AND SOCIAL MEDIA BY TEACHING AND ONE-ON-ONE CONSULTING TO CHAMBERS, NON-PROFIT GROUPS, AND SMALL BUSINESSES WHO WANT TO TRANSITION TO DIGITAL PLATFORMS. ACE ALSO SUPPORTS MINORITY BUSINESS ENTERPRISES AND AAPI CHAMBERS OF COMMERCE BY INVESTING IN LOCAL COMMUNITIES WHILE WORKING TO IMPROVE THE WELL-BEING, ECONOMIC RESILIENCE, AND MOBILITY OF THE MINORITY BUSINESS COMMUNITY.
-
CONFERENCES AND SUMMITS - THE NATIONAL ACE AAPISTRONG ANNUAL CONFERENCE BROUGHT TOGETHER ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) ENTREPRENEURS, SMALL BUSINESS OWNERS, LOCAL AAPI CHAMBERS OF COMMERCE FROM AROUND THE COUNTRY, CORPORATE PARTNERS, AND COMMUNITY LEADERS TO ENGAGE IN LEADERSHIP PROGRAMMING AND NETWORK BUILDING. PARTICIPANTS WILL DISCOVER INNOVATIVE OPPORTUNITIES FOR CAPITAL BUILDING, RECEIVE LEGISLATIVE UPDATES, AND HEAR INSPIRING STORIES FROM ENTREPRENEURS IN THE COMMUNITY. NATIONAL ACE ALSO HOSTS OTHER EVENTS AND SUMMITS FOR SMALL BUSINESS OWNERS FOR ACCESS TO CAPITAL, INVESTING IN AANHPI BUSINESSES, AND STAYING COMPETITIVE IN A DIGITAL WORLD.
-
SPECIAL PROJECTS - THE NATIONAL ACE ENGAGES IN SPECIAL PROJECTS TO SUPPORT AANHPI SMALL BUSINESS OWNERS ACROSS INDUSTRIES BY PROVIDING CASH GRANTS. WE PROVIDE FUNDING TO ELIGIBLE SMALL BUSINESS OWNERS TO PROVIDE WORKING CAPITAL FOR THEIR COMPANIES TO GROW AND ECONOMICALLY THRIVE.
As filed on the 2023 return.
Listed in Part VII
-
Pat Fong KushidaPAT FONG KUSHIDA
DIRECTOR/CONSULTANT
- Total calculated
- $37,448
- From this org
- $37,448
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Thear SuzukiTHEAR SUZUKI
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Garrett GinGARRETT GIN
CHAIR-ELECT
- Total calculated
- $0
- Hours/week
- 2
-
Grace LeeGRACE LEE
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Angela ChangANGELA CHANG
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Mariko CarpenterMARIKO CARPENTER
DIRECTOR (THROUGH JUNE 2023)
- Total calculated
- $0
- Hours/week
- 1
-
Ed ChanED CHAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jason ChanJASON CHAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Andrew ChauANDREW CHAU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Susan Jin DavisSUSAN JIN DAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Karen EngKAREN ENG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Fa'Avae Fa'AvaeFA'AVAE FA'AVAE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jimmy FergusonJIMMY FERGUSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jacob HsuJACOB HSU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Karen IdenoKAREN IDENO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Bill ImadaBILL IMADA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Joon KimJOON KIM
DIRECTOR (AS OF FEB 2023)
- Total calculated
- $0
- Hours/week
- 1
-
Chris LawCHRIS LAW
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Roberto LlamesROBERTO LLAMES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michelle MiMICHELLE MI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sandeep NainSANDEEP NAIN
DIRECTOR (AS OF OCT 2023)
- Total calculated
- $0
- Hours/week
- 1
-
Amar ShokeenAMAR SHOKEEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Wallace TsuhaWALLACE TSUHA
DIRECTOR (THROUGH JULY 2023)
- Total calculated
- $0
- Hours/week
- 1
-
Helene YanHELENE YAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Vivian YoungVIVIAN YOUNG
DIRECTOR (AS OF OCT 2023)
- Total calculated
- $0
- Hours/week
- 1
-
Chiling TongCHILING TONG
PRESIDENT AND CEO
- Total calculated
- $260,620
- From this org
- $253,809
- From related orgs
- $0
- Other
- $6,811
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $237,809
- Bonus
- $16,000
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $253,809
-
Emily FuderEMILY FUDER
VP OF PROGRAMS AND MARKETING
- Total calculated
- $114,491
- From this org
- $111,221
- From related orgs
- $0
- Other
- $3,270
- Hours/week
- 40
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 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- FORM 990, PART VII, LINE 5:
- PAT FONG KUSHIDA, A DIRECTOR AND CONSULTANT, RECEIVED $37,448 FOR HER SERVICES RENDERED TO THE ORGANIZATION FROM AN UNRELATED ORGANIZATION IN 2023.
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
- 2023
- Filed
- 3 July 2024
- IRS schema version
- 2023v5.1
- Source object
- 202421859349300132
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