Asian Americans For Equality Inc
- Assets
- $28.0m
- Revenue
- $10.9m
- Investments
- $0.0
- Employees
- 57
- Location
- New York, NY
- Founding
- 04/1986
- Data as of
- 12/2023
- EIN
- 13-3187792
Organization Overview
Asian Americans For Equality Inc is located in New York, NY. The organization was established in 1986. According to its NTEE Classification (S80) the organization is classified as: Community Service Clubs, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Asian Americans For Equality Inc employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asian Americans For Equality Inc 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 12/2023, Asian Americans For Equality Inc generated $10.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $9.8m during the year ending 12/2023. While expenses have increased by 7.5% per year over the past 9 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.
Since 2022, Asian Americans For Equality Inc has awarded 13 individual grants totaling $2,229,997. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ASIAN AMERICANS FOR EQUALITY, INC. (AAFE) ADVANCES THE RIGHTS OF ASIAN AMERICANS, AND THOSE IN NEED, THROUGH ADVOCACY FOR CIVIL RIGHTS, AFFORDABLE HOUSING, ECONOMIC DEVELOPMENT, AND IMMIGRANT SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLANNING AND DEVELOPMENT: IN THE PAST THREE DECADES, ASIAN AMERICANS FOR EQUALITY HAS DEVELOPED AND PRESERVED MORE THAN 1,200 AFFORDABLE APARTMENTS IN IMMIGRAT AND LOW-INCOME COMMUNITIES ACROSS NEW YORK CITY. THE GOAL OF OUR HOUSING DEVELOPMENT WORK IS TO CREATE SAFE AND HEALTHY HOMES FOR LOW- AND MIDDLE-INCOME INDIVIDUALS AND FAMILIES, PROVIIDNG THE HOUSING STABILITY THEY NEED TO THRIVE AND PRESERVING THE ESSENTIAL CHARACTER OF OUR DIVERSE NEIGHBORHOODS. AAFE'S PLANNING & DEVELOPMENT TEAM HAS A STRONG TRACK RECORD OF INNOVATION, PIONEERING VARIOUS PROGRAMS THAT HAVE BECOME CITYWIDE MODELS, INCLUDING THE USE OF LOW-INCOME TAX CREDITS TO BUILD AFFORDABLE HOUSING, THE CITY'S AFFORDABLE HOUSING COOPERATIVE PROGRAM AND THE POST 9/11 CHINATOWN/LOWER EAST SIDE PRESERVATION.
COMMUNITY OUTREACH AND EDUCATION: AAFE'S OUTREACH AND EDUCATION PROGRAMS ARE DESIGNED TO EMPOWER COMMUNITY MEMBERS TO BECOME INFORMED AND ENGAGED MEMBERS IN THEIR BUILDINGS, NEIGHBORHOODS AND CIVIC ORGANIZATIONS. EACH YEAR, THOUSANDS OF INDIVIDUALS ATTEND OUR MULTILINGUAL EDUCATIONAL WORKSHOPS AND COMMUNITY EVENTS AND PARTICIPATE IN OUR ADVOCACY CAMPAIGNS. AAFE WORKS TO REGISTER VOTERS, ORGANIZE RENT STABILIZED TENANTS AND ENGAGE IMMIGRANT YOUTH AND LOW-INCOME SENIORS. MORE THAN 100 VOLUNTEERS HELP STAFF OUR FOOD PANTRIES, BACK TO SCHOOL GIVEAWAYS AND MULTICULTURAL HOLIDAY CELEBRATIONS.
HOUSING, IMMIGRATION AND SOCIAL SERVICES: THE FOUNDATION OF AAFE'S COMMUNITY SERVICES IS A STRONG BELIEF THAT EVERYONE SHOULD HAVE EQUITABLE ACCESS TO AFFORDABLE AND SAFE HOUSING, GOVERNMENT SAFETY NET PROGRAMS AND HEALTHCARE AND PATHWAYS TO U.S. CITIZENSHIP FOR THEMSELVES AND THEIR FAMILIES. WHILE MAINTAINING COMMUNITY CENTERS IN MANHATTAN 'S CHINATOWN AND THE LOWER EAST SIDE AND FLUSHING AND JACKSON HEIGHTS IN QUEENS, OUR INDIVIDUAL COUNSELING SERVICES ARE AVAILABLE CITYWIDE. AAFE PROVIDERS MULTILINGUAL ASSISTANCE IN ENGLISH, CHINESE, SPANISH, AND KOREAN TO HELP PREVENT HOUSING DISPLACEMENT, CONNECT LOW-INCOME COMMUITY MEMBERS WITH ESSENTIAL SOCIAL SERVICES AND IMMIGRATION ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Kim Vice Chair | OfficerTrustee | 3 | $0 |
Connie Lee Director | Trustee | 1 | $0 |
Donna Chiu Director | Trustee | 1 | $0 |
Grace Alster Director | Trustee | 1 | $0 |
Heidie Joo Burwell Secretary | OfficerTrustee | 2 | $0 |
Jacqueline Huey Secretary (outgoing) | OfficerTrustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Contango It Services | 12/30/23 | $243,147 |
Cbiz Marks Paneth Audit And Tax Services | 12/30/23 | $134,721 |
Kasirer Llc Consulting Services | 12/30/23 | $115,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $216,745 |
| Related organizations | $1,458,967 |
| Government grants | $2,357,338 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,770,961 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,804,011 |
| Total Program Service Revenue | $4,053,068 |
| Investment income | $1,288 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$18,685 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,895,181 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $768,484 |
| 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. | $368,494 |
| Compensation of current officers, directors, key employees. | $133,960 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,582,620 |
| Pension plan accruals and contributions | $93,523 |
| Other employee benefits | $443,526 |
| Payroll taxes | $344,824 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,334 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $210,945 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $323,930 |
| Advertising and promotion | $30,242 |
| Office expenses | $405,368 |
| Information technology | $116,106 |
| Royalties | $0 |
| Occupancy | $977,699 |
| Travel | $28,366 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,584 |
| Interest | $721,885 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $444,164 |
| Insurance | $136,895 |
| All other expenses | $138,515 |
| Total functional expenses | $9,838,751 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,013,214 |
| Savings and temporary cash investments | $314,819 |
| Pledges and grants receivable | $1,050,684 |
| Accounts receivable, net | $0 |
| 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 | $128,243 |
| Net Land, buildings, and equipment | $9,911,420 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,001,132 |
| Intangible assets | $0 |
| Other assets | $14,559,846 |
| Total assets | $27,979,358 |
| Accounts payable and accrued expenses | $495,238 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $7,524,597 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,721,503 |
| Total liabilities | $19,741,338 |
| Net assets without donor restrictions | $6,985,544 |
| Net assets with donor restrictions | $1,252,476 |
| 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 | $27,979,358 |
Grants Awarded
Over the last fiscal year, Asian Americans For Equality Inc has awarded $711,997 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CREATE IN CHINATOWN INC DBA THINKCHINATOWN PURPOSE: PAYMENTS MADE TO LANDLORDS TO BRING UNITS INTO COMPLIANCE | $73,000 |
4NYC HOUSING INC PURPOSE: PAYMENTS MADE TO LANDLORDS TO BRING UNITS INTO COMPLIANCE | $287,232 |
RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION PURPOSE: ASSISTANCE TO SMALL BUSINESS | $135,000 |
AAFE COMMUNITY DEVELOPMENT FUND INC PURPOSE: HUD PASS THROUGH TO AAFE CDF | $206,765 |
STANTON NORFOLK PURPOSE: REDESIGNED YOUTH LEARNING PROGRAM | $10,000 |