Asia Society Texas Center
- Assets
- $70.3m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 41
- Location
- Houton, TX
- Founding
- 05/2002
- Data as of
- 06/2023
- EIN
- 03-0433949
Organization Overview
Asia Society Texas Center is located in Houton, TX. The organization was established in 2002. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Asia Society Texas Center employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asia Society Texas Center is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Asia Society Texas Center generated $6.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.6% each year . All expenses for the organization totaled $4.3m during the year ending 06/2023. While expenses have increased by 1.5% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ASIA SOCIETY TEXAS CENTER ("ASTC") IS AN EDUCATIONAL ORGANIZATION DEDICATED TO PROMOTING MUTUAL UNDERSTANDING AND STRENGTHENING PARTNERSHIPS BETWEEN ASIA AND THE UNITED STATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PERFORMING ART AND CULTURE - THROUGH DANCE, FOOD, FILM, LITERATURE, MUSIC, AND THEATRE, ASTC'S PERFORMING ARTS AND CULTURE PROGRAMS CELEBRATE THE VIBRANCY OF ASIAN CULTURES THROUGH TRADITIONAL AND CONTEMPORARY ARTS TO ENGENDER CURIOSITY, EMPATHY, AND A BETTER UNDERSTANDING OF OUR COMMUNITY AND THE WORLD. MANY OF THESE ANNUAL OFFERINGS ARE PRESENTED IN COLLABORATION WITH SOME OF HOUSTON'S MOST PRESTIGIOUS AND DIVERSE CULTURAL ORGANIZATIONS LIKE MILLER OUTDOOR THEATRE, HOUSTON BALLET, INPRINT, OCA OF GREATER HOUSTON, HOUSTON CINEMA ARTS FESTIVAL, HOUSTON SYMPHONY AND MORE.
THE EXHIBITIONS DEPARTMENT AT ASIA SOCIETY TEXAS SHARES THE BEST VISUAL ARTS FROM AND ABOUT ASIA WITH THE HOUSTON-AREA COMMUNITY. THROUGH EXHIBITIONS AND RELATED PROGRAMS IN FY22-23, WE FEATURED THE WORKS OF MORE THAN 30 CONTEMPORARY ARTISTS THROUGH 4 EXHIBITIONS, BOTH FROM THE UNITED STATES AND ASIA. OUR DEPARTMENT'S PROGRAMMING DEEPENS APPRECIATION FOR THE ARTS IN TEXAS. IN FY22-23, THE ORGANIZATION ALSO CREATED 10 UNIQUE PROGRAMS INCLUDING A SYMPOSIUM ON CONTEMPORARY ART FROM CHINA, ARTIST WORKSHOPS, AS WELL AS PROGRAMS ABOUT THE ASIAN DIASPORA. FEATURED ARTISTS INCLUDED LAIN SINGH BANGDEL, XU BING, AND BINGYI.
THE BUSINESS AND POLICY DEPARTMENT OF ASIA SOCIETY TEXAS FOSTERS A BETTER UNDERSTANDING OF OUR INTERCONNECTED WORLD THROUGH PROGRAMMING THAT ELEVATES DIALOGUE AND IDEAS TO COMBAT BIAS AND CONNECTS HOUSTONIANS WITH GLOBAL BUSINESS AND THOUGHT LEADERS, AUTHORS, SCHOLARS, DIPLOMATS, AND POLICY EXPERTS. OUR PROGRAMS ARE PRIMARILY IN-PERSON AT ASIA SOCIETY TEXAS. IN FY22-23 WE HOSTED 27 PROGRAMS - 25 IN-PERSON ONLY, 1 VIRTUAL ONLY AND 1 HYBRID IN-PERSON AND VIRTUAL. THE DEPARTMENT STARTED AN INAUGURAL ENERGY TRANSITION SERIES HIGHLIGHTING WORK BEING DONE IN THE ENERGY INDUSTRY TO IMPROVE CLIMATE OUTCOMES. KEY B&P PROGRAMS INCLUDED DISCUSSIONS ON U.S. FOREIGN POLICY, KOREAN SECURITY ISSUES, CHINA, ASIAN AMERICAN WOMEN EXCELLING IN THE LEGAL FIELD AND IN THE NEWSROOM, DISCUSSIONS AROUND PHILANTHROPY, MENTAL HEALTH, CLIMATE CHANGE, BIOMEDICAL INNOVATION AND A HUFFINGTON AWARD DINNER HONORING FORMER PEPSICO CEO INDRA NOOYI. NOTABLE SPEAKERS INCLUDED FORMER SECRETARY OF TRANSPORTATION ELAINE CHAO, FORMER SOUTH KOREAN PRIME MINISTER NAKYON LEE, ALIBABA'S FIRST AMERICAN EMPLOYEE BRIAN WONG AS WELL AS THAILAND AMBASSADOR TANEE SANGRAT, KAZAKHSTAN AMBASSADOR YERZHAN ASHIKBAYEV AND MANY OTHERS.
ASTC'S EDUCATION AND OUTREACH DEPARTMENT OFFERS UNIQUE LEARNING EXPERIENCES FOR CHILDREN, ADULTS, AND FAMILIES TO EXPLORE DIVERSE ASIAN CULTURES AND THE ASIAN AMERICAN EXPERIENCE. OUR PERMANENT EDUCATION EXHIBIT, EXPLORE ASIA, PROVIDES AN INTERACTIVE ED-TECH EXPERIENCE WHICH IMMERSES GUESTES IN ASIAN CULTURE. OUR ONLINE LEARNING PLATFORM, ASIA IN THE CLASSTOOM, OFFERS ENGAGING WEBCOMICS FOR STUDENTS, COMPREHENSIVE LESSON GUIDES FOR EDUCATORS, AND PROFESSIONAL DEVELOPMENT FOR EDUCATIORS. THROUGH OUR PROGRAMMING, WE PROVIDE A PLATFORM FOR COMMUNITIES TO CELEBRATE AND SHARE CULTURE THROUGH FAMILY FESTIVALS, LANGUAGE CLASSES, SUMMER CAMPS, WORKSHOPS, AND PERFORMANCES. ALL OF OUR INITIATIVES ARE DESIGNED TO SPARK CURIOSITY, BUILD CULTURAL EMPATHY, AND DEVELOP GLOBAL COMPETENCY AND CONNECTIVITY IN HOUSTON AND BEYOND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Y Ping Sun Chair | OfficerTrustee | 2 | $0 |
Edward D Allen III Treasurer | OfficerTrustee | 2 | $0 |
Martyn E Goossen Vice Chair | OfficerTrustee | 2 | $0 |
Kevin P Lewis Secretary | OfficerTrustee | 2 | $0 |
Rishi Varma Vice Chair | OfficerTrustee | 2 | $0 |
Nancy Allen Lifetime Dir | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Zenith Systems Llc Technicial | 6/29/23 | $540,000 |
Micro Llc Fabrication | 6/29/23 | $154,800 |
Arena Aztec Shaffer Llc Tent Rental | 6/29/23 | $111,543 |
City Kitchen Event Service | 6/29/23 | $110,468 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $47,761 |
| Fundraising events | $231,943 |
| Related organizations | $0 |
| Government grants | $139,991 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,611,614 |
| Noncash contributions included in lines 1a–1f | $342,150 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,031,309 |
| Total Program Service Revenue | $652,075 |
| Investment income | $289,187 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$135,562 |
| Net Gain/Loss on Asset Sales | $1,526,863 |
| Net Income from Fundraising Events | $873,437 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,237,309 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $581,570 |
| Compensation of current officers, directors, key employees. | $31,521 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $947,886 |
| Pension plan accruals and contributions | $188,571 |
| Other employee benefits | $287,245 |
| Payroll taxes | $132,091 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $30,490 |
| Office expenses | $61,833 |
| Information technology | $78,899 |
| Royalties | $0 |
| Occupancy | $231,382 |
| Travel | $20,216 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $32,356 |
| Depreciation, depletion, and amortization | $856,941 |
| Insurance | $92,029 |
| All other expenses | $0 |
| Total functional expenses | $4,342,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,279,015 |
| Savings and temporary cash investments | $2,161,903 |
| Pledges and grants receivable | $4,859,481 |
| Accounts receivable, net | $469,152 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $73,879 |
| Net Land, buildings, and equipment | $42,422,963 |
| Investments—publicly traded securities | $18,986,879 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $70,253,272 |
| Accounts payable and accrued expenses | $902,686 |
| Grants payable | $0 |
| Deferred revenue | $77,508 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $980,194 |
| Net assets without donor restrictions | $41,425,130 |
| Net assets with donor restrictions | $27,847,948 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $70,253,272 |