Skip to content
Nonprofiteer
← THE ASIAN AMERICAN FOUNDATION

Form 990 for tax year 2023

Filed by THE ASIAN AMERICAN FOUNDATION.

Totals

Total revenue
$16,595,322
Total expenses
$22,909,834
Contributions and grants received
$15,225,499
Grants paid
$9,084,238
Program service revenue
$0
Investment income
$1,369,823
Other revenue
$0
Total assets, end of year
$80,525,812
Total liabilities, end of year
$1,185,037
Net assets or fund balances, end of year
$79,340,775
Program services expenses (Part IX)
$18,839,072
Management and general expenses
$3,722,589
Fundraising expenses
$348,173
Program service expenses (Part III)
$18,839,072

Program services were 82.2% 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

    $15,225,499

  • 1g · Noncash contributions included above

    $882,865

  • 3 · Investment income

    total $1,337,543 · excluded $1,337,543

  • 7a · Gross sales of assets other than inventory

    other assets $882,865

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

    other assets $850,585

  • 7c · Gain or loss

    other assets $32,280

  • 7d · Net gain or loss

    total $32,280 · excluded $32,280

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $9,084,238 · program services $9,084,238

  • 5 · Compensation of officers, directors and key employees

    total $1,667,328 · program services $1,179,285 · management and general $488,043

  • 7 · Other salaries and wages

    total $3,213,224 · program services $1,893,515 · management and general $1,319,709

  • 9 · Other employee benefits

    total $479,930 · program services $288,780 · management and general $191,150

  • 10 · Payroll taxes

    total $338,265 · program services $209,885 · management and general $128,380

  • 11a · Fees: management

    total $3,020,604 · program services $1,872,161 · management and general $822,018 · fundraising $326,425

  • 11b · Fees: legal

    total $80,920 · management and general $80,920

  • 11c · Fees: accounting

    total $38,404 · management and general $38,404

  • 12 · Advertising and promotion

    total $1,000,500 · program services $989,500 · management and general $11,000

  • 13 · Office expenses

    total $139,740 · program services $67,248 · management and general $71,921 · fundraising $571

  • 14 · Information technology

    total $156,883 · program services $34,905 · management and general $121,978

  • 16 · Occupancy

    total $17,812 · program services $2,095 · management and general $15,118 · fundraising $599

  • 17 · Travel

    total $437,247 · program services $228,940 · management and general $199,284 · fundraising $9,023

  • 19 · Conferences, conventions and meetings

    total $4,109 · program services $1,930 · management and general $2,179

  • 22 · Depreciation, depletion and amortization

    total $11,428 · management and general $11,428

  • 23 · Insurance

    total $106,058 · management and general $106,058

  • 24a · Other expenses: OTHER EVENT EXPENSES

    total $3,113,144 · program services $2,986,590 · management and general $114,999 · fundraising $11,555

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $35,161,351 · end of year $44,853,905

  • 3 · Pledges and grants receivable

    beginning of year $53,480,279 · end of year $34,906,276

  • 4 · Accounts receivable

    beginning of year $109,088 · end of year $1,786

  • 9 · Prepaid expenses and deferred charges

    beginning of year $187,202 · end of year $721,100

  • 15 · Other assets

    beginning of year $33,393 · end of year $42,745

  • 17 · Accounts payable and accrued expenses

    beginning of year $500,141 · end of year $650,037

  • 18 · Grants payable

    beginning of year $2,815,885 · end of year $535,000

  • 27 · Net assets without donor restrictions

    beginning of year $82,664,935 · end of year $78,205,769

  • 28 · Net assets with donor restrictions

    beginning of year $2,990,352 · end of year $1,135,006

Mission and programs · 2023

Mission

SEE SCHEDULE O.

Activities or mission (Part I)

THE ASIAN AMERICAN FOUNDATION'S (TAAF) SERVES THE AAPI COMMUNITY IN THEIR PURSUIT OF BELONGING AND PROSPERITY THAT IS FREE FROM DISCRIMINATION, SLANDER AND VIOLENCE, IN FURTHERANCE OF ITS CHARITABLE MISSION TAAF CONDUCTS

  • SEE SCHEDULE O

    Expenses $9,632,313 · Grants $6,639,397

  • SEE SCHEDULE O

    Expenses $1,877,183 · Grants $1,276,222

  • SEE SCHEDULE O

    Expenses $4,300,990 · Grants $965,925

  • RESOURCES & REPRESENTATIONTAAF'S RESOURCES & REPRESENTATION INITIATIVES FOCUS ON UNLOCKING RESOURCES THROUGH THE AAPI GIVING CHALLENGE AND STRENGTHENING AANHPI LEADERSHIP ACROSS INDUSTRIES. TAAF ENGAGES LEADERS THROUGH TAAF'S SIGNATURE BOARD AND C-SUITE STRATEGIES AND EMERGING EXECUTIVES THROUGH THE TAAF ERG NETWORK (TEN).TAAF ALSO WORKS WITH PARTNERS TO UNLOCK RESOURCES THROUGH THE AAPI GIVING CHALLENGE, A MULTI-YEAR CAMPAIGN THAT RALLIES, COMPANIES, FOUNDATIONS, AND INDIVIDUALS TO SUPPORT AANHPI COMMUNITIES AND CAUSES AND TAAF'S AWARD-WINNING NONPROFIT DATABASE, A DIGITAL PLATFORM THAT CONNECTS THE PUBLIC WITH AANHPI NONPROFITS ACROSS THE US.

    Expenses $3,028,586 · Grants $202,694

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Norman Chen

    CEO AND DIRECTOR

    Total calculated
    $501,722
    From this org
    $501,722
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $501,722
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $501,722
  • Jerry Yang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10
  • Joe Tsai

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10
  • Jonathan Greenblatt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10
  • Joseph Bae

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10
  • Li Lu

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0
  • Peng Zhao

    DIRECTOR/TREASURER

    Total calculated
    $0
    Hours/week
    10
  • Sheila Marcelo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10
  • Isabel Kim

    CHIEF FINANCIAL OFFICER

    Total calculated
    $299,257
    From this org
    $299,257
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $287,803
    Bonus
    $0
    Other
    $11,454
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $299,257
  • Prisca Bae

    CHIEF PARTNERSHIPS OFFICER

    Total calculated
    $329,709
    From this org
    $329,709
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $316,287
    Bonus
    $0
    Other
    $13,422
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $329,709
  • Audrey Yamamoto

    CHIEF OPERATING OFFICER

    Total calculated
    $294,805
    From this org
    $294,805
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $282,016
    Bonus
    $0
    Other
    $12,789
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $294,805
  • Georgette Bhathena

    CHIEF PROGRAM OFFICER

    Total calculated
    $241,835
    From this org
    $241,835
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $235,660
    Bonus
    $0
    Other
    $6,175
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $241,835
  • Joy Moh

    HEAD OF COMMUNICATIONS AND MARKETING

    Total calculated
    $229,622
    From this org
    $229,622
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,040
    Bonus
    $0
    Other
    $11,582
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $229,622
  • Rohit Paul

    HEAD OF PEOPLE, TALENT AND CULTURE

    Total calculated
    $221,824
    From this org
    $221,824
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,240
    Bonus
    $0
    Other
    $11,584
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $221,824
  • Eugena Oh

    REGIONAL DIRECTOR, GREATER NEW YORK CITY AREA

    Total calculated
    $187,881
    From this org
    $187,881
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,772
    Bonus
    $0
    Other
    $7,109
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $187,881
  • Sruthi Chandrasekaran

    DIRECTOR OF DATA AND RESEARCH

    Total calculated
    $154,727
    From this org
    $154,727
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,521
    Bonus
    $0
    Other
    $8,206
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $154,727
  • Terry Park

    EDUCATION AND NARRATIVE CHANGE PROGRAM OFFICER

    Total calculated
    $130,789
    From this org
    $130,789
    From related orgs
    $0
    Other
    $0
    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 · Written employment contract
  • 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
  • 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

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349315455

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.