Asia Society Texas Center
- Assets
- $65.6m
- Revenue
- $8.3m
- Investments
- $0.0
- Employees
- 41
- Location
- Houton, TX
- Founding
- 05/2002
- Data as of
- 06/2021
- 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 06/2021, 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 06/2021, Asia Society Texas Center generated $8.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $3.7m during the year ending 06/2021. 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
2021
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. ASIA SOCIETY TEXAS CENTER'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 RESTIGIOUS AND DIVERSE CULTURE ORGANIZAITONS LIKE MILLER OUTDOOR THEATRE,AARP,INPRINT,OCA OF GREATER HOUSTON,HOUSTON CINEMA ARTS FESTIVAL, THE MUSEUM OF FINE ARTS HOUSTON AND MORE.
THE BUSINESS AND POLICY PILLAR OF ASIA SOCIETY TEXAS CENTER FOSTERS A BETTER UNDERSTANDING OF OUR INTERCONNECTED WORLD THROUGH PROGRAMMING THAT ELEVATES DIALOGUE AND IDEAS TO COMBAT BIAS AND CONNECTS HOUSTONIANS WITH GLOBLE BUSINESS AND THOUGHT LEADERS,AUTHORS,SCHOLARS,DIPLOMATS,AND POLICY EXPERTS. IN RESPONSE TO THE ONGOING COVID-19 PANDEMIC, THE BUSINESS AND POLICY PILLAR IN FY20-21 CONTINUED TO OFFER ONLINE PROGRAMMING, WITH A TOTAL OF 27 PROGRAMS FEATURING 75 SPEAKERS AND 6 PARTNER ORGANIZAITONS. THE ONLINE PROGRAMS ALLOWED THE ORGANIZATION TO REACH NATIONAL AND INTERNATIONAL AUDIENCES, TOTALING OVER 53,000 VIRTUAL VIEWS. KEY PROGRAMS INCLUDED UPDATES ON U.S.-ASIA FOREIGN POLICY, DISCUSSIONS AROUND ENERGY AND CLIMATE CHANGE,AND A SPECIAL ONLINE HUFFINGTON AWARD DINNER CELEBRATING RENOWNED IMMIGRATION LAWYER AND HOUSTON LEADER CHARLES C. FOSTER. IN ADDITION, A NEW MONTHLY WEBCAST SERIES TITLED COVID-19: NEW REALITIES PROVIDED AUDIENCES TIMELY INFORMATION ON THE IMPACT OF THE PANDEMIC ON THE GLOBAL ECONOMY AS WELL AS LOCAL SMALL BUSINESSES,VACCINE DEVELOPMENT, AND ANTI-ASIAN RACISM. NOTABLE SPEAKERS INCLUDED SINGAPORE'S FORMER PERMANENT REPRESENTATIVE TO THE U.N. AMBASSADOR KISHORE MAHBUBANI, KHAN ACADEMY FOUNDER SAL KHAN,ACTIVIST AND AUTHOR HELEN ZIA, TAIWAN DIGITAL MINISTER AUDREY TANG,CNN HOST FAREED ZAKARIA,ETHAN ALLEN CEO AND PRESIDENT FAROOQ KATHWARL AND NASA ASTRONAUT JASMIN MOGHBELL.
ASIA SOCIETY TEXAS CENTER'S EDUCATION AND OUTREACH PROGRAMS OFFER UNIQUE VIRTUAL AND IN-PERSON LEARNING EXPERIENCES FOR CHILDREN,ADULTS,AND FAMILIES TO EXPLORE DIVERSE ASIAN CULTURES. THROUGH OUR PROGRAMMING,WE PROVIDE A PLATFORM FOR ASIAN AMERICAN COMMUNITIES TO CELEBRATE AND SHARE CULTURE THROUGH FAMILY FESTIVALS,WORKSHOPS,AND PERFORMANCES.OUR TEKS-ALIGNED SCHOOL FIELD TRIP PROGRAM, EXPLOREASIA CULTURE CAMPS,AT HOME ADVENTURES THROUGH ASIA,FAMILY DAYS,AND ADULT LEARNING CLASSES ALL PROVIDE AN OPPORTUNITY TO SPEAK CURIOSITY,BUILD CULTURAL EMPATHY,AND DEVELOP GLOBAL COMPETENCY AND CONNECTIVITY IN HOUSTON AND BEYOND.
THE EXHIBITIONS DEPARTMENT AT ASIA SOCIETY TEXAS CENTER SHARES THE BEST VISUAL ARTS FROM AND ABOUT ASIA WITH THE HOUSTON-AREA COMMUNITY. THROUGH EXHIBITIONS AND RELATED PROGRAMS IN FY2021,WE FEATURED THE WORKS OF 16 CONTEMPORARY ARTISTS FROM THE US AND ASIA THROUGH 6 EXHIBITIONS.OUR DEPARTMENT'S PROGRAMMING DEEPENS APPRECIATION FOR THE ARTS IN TEXAS. IN FY2021,THE ORGANIZATION ALSO CREATED 6 UNIQUE PROGRAMS INCLUDING A FOCUS ON INDIAN GRAPHIC NOVELS,THE FILIPINOS DIASPORA,AND CONTEMPORAY ARTISTS FROM VIETNAM AND THE UNITED STATES.FEATURED ARTISTS INCLUDED MIYA ANDO,SHAHIDUL ALAM,TIFFANY CHUNG,STEPHANIE SYJUCO,AND HONG HONG. EXPENSE: 907,084 INCLUDING GRANTS OF : 0 REVENUE: 143,224
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bonna Kol President | OfficerTrustee | 40 | $221,326 |
Oleg Jolic SVP Of Opera | OfficerTrustee | 40 | $132,931 |
Sophia Wong Vp, Finance | OfficerTrustee | 40 | $123,426 |
Jennifer R Stephenson Director | OfficerTrustee | 40 | $109,380 |
Joy Partain Vp, Marketin | OfficerTrustee | 40 | $56,875 |
Y Ping Sun Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $40,269 |
| Fundraising events | $348,385 |
| Related organizations | $0 |
| Government grants | $552,446 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,658,375 |
| Noncash contributions included in lines 1a–1f | $284,855 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,599,475 |
| Total Program Service Revenue | $411,370 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$209,758 |
| Net Gain/Loss on Asset Sales | -$144,249 |
| Net Income from Fundraising Events | $627,647 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,284,485 |
| 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. | $560,261 |
| Compensation of current officers, directors, key employees. | $41,754 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,092,745 |
| Pension plan accruals and contributions | $70,072 |
| Other employee benefits | $121,100 |
| Payroll taxes | $133,636 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $288,239 |
| Advertising and promotion | $19,172 |
| Office expenses | $12,486 |
| Information technology | $54,105 |
| Royalties | $0 |
| Occupancy | $198,277 |
| Travel | $654 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $23,526 |
| Payments to affiliates | $33,816 |
| Depreciation, depletion, and amortization | $821,461 |
| Insurance | $83,314 |
| All other expenses | $0 |
| Total functional expenses | $3,690,153 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,409,648 |
| Savings and temporary cash investments | $62,427 |
| Pledges and grants receivable | $6,863,280 |
| Accounts receivable, net | $369,225 |
| 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 | $27,390 |
| Net Land, buildings, and equipment | $38,705,734 |
| Investments—publicly traded securities | $17,144,710 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $65,582,414 |
| Accounts payable and accrued expenses | $307,188 |
| Grants payable | $434,890 |
| Deferred revenue | $114,152 |
| 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 | $856,230 |
| Net assets without donor restrictions | $43,944,471 |
| Net assets with donor restrictions | $20,781,713 |
| 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 | $65,582,414 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Asia Society Texas Center has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
The Powell Foundation Houston, TX PURPOSE: ARTS: EDUCATIONAL PROGRAMMING AND INITIATIVES FOR CHILDREN AND YOUTH | $50,000 |
Endowment Analysis
| Beg. Balance | $15,756,270 |
| Earnings | $65,356 |
| Net Contributions | $437,000 |
| Ending Balance | $16,258,626 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oktoberfest Inc Tulsa, OK | $2,688,468 | $7,024,472 |
Asia Society Texas Center Houton, TX | $65,582,414 | $8,284,485 |
Mexican American Catholic College San Antonio, TX | $4,811,133 | $2,305,769 |
Hua Xia Chinese School Inc Houston, TX | $8,045,926 | $2,930,667 |
Flower Hill Institute Jemez Pueblo, NM | $823,224 | $2,237,551 |
Project Row Houses Houston, TX | $10,675,760 | $9,147,034 |
Southwestern Association For Indian Arts Inc Santa Fe, NM | $785,210 | $1,802,877 |
American Indians In Texas-At The Spanish Colonial Missions San Antonio, TX | $773,788 | $1,628,585 |
Organizers Institute South And West Iaf Austin, TX | $7,219,565 | $7,584,379 |
Deutsches Haus Inc New Orleans, LA | $8,197,110 | $1,605,312 |
Whitney Institute Wallace, LA | $986,307 | $1,905,453 |
Tribal Education Departments National Assembly Co Oklahoma City, OK | $43,006 | $1,157,227 |