Asia Society
- Assets
- $142.7m
- Revenue
- $32.3m
- Investments
- $56.7m
- Employees
- 197
- Location
- New York, NY
- Founding
- 08/1985
- Data as of
- 06/2021
- EIN
- 13-3234632
Organization Overview
Asia Society is located in New York, NY. The organization was established in 1985. According to its NTEE Classification (Q20) the organization is classified as: Promotion of International Understanding, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 06/2023, Asia Society employed 197 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asia Society 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 generated $32.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $28.9m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Asia Society has awarded 659 individual grants totaling $9,936,757. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE SOCIETY IS AN INTERNATIONAL NONPROFIT NONPARTISAN ORGANIZATION, SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
POLICY AND BUSINESS PROGRAM DIVISION - THE ASIA SOCIETY POLICY INSTITUTE HAS BEEN RANKED IN THE TOP 1% OF THINK TANKS AROUND THE WORLD BY THE UNIVERSITY OF PENNSYLVANIA'S THINK TANKS AND CIVIL SOCIETY'S PROGRAM. WITH A PROBLEM-SOLVING MANDATE, THE ASIA SOCIETY POLICY INSTITUTE (ASPI) TACKLES MAJOR POLICY CHALLENGES NOW CONFRONTING THE ASIA-PACIFIC IN SECURITY, PROSPERITY, SUSTAINABILITY, AND THE DEVELOPMENT OF COMMON NORMS AND VALUES FOR THE REGION. FOR MORE INFORMATION, SEE SCHEDULE O.
ART AND CULTURAL PROGRAMS DIVISION - THE SOCIETY'S ART AND CULTURAL PROGRAMS DIVISION EXPLORES THE VITAL EXPRESSIONS OF DIVERSE ASIAN CULTURES THROUGH EXHIBITIONS, PERFORMANCES, FILMS, LECTURES, AND SYMPOSIA. FOR MORE INFORMATION, SEE SCHEDULE O.
COMMUNICATIONS DIVISION - THE SOCIETY PURSUES ITS MISSION TO EDUCATE THE PUBLIC THROUGH INNOVATIVE ONLINE PROGRAMMING ACTIVITIES - SINCE THE PANDEMIC, THIS HAS BECOME MORE IMPORTANT THAN EVER. THE WORK OF THE ONLINE OUTREACH DIVISION INCLUDES CONTRIBUTIONS FROM HEADQUARTERS AS WELL AS OUR THIRTEEN OTHER CENTERS AROUND THE WORLD. IT OVERSEES THE WEBSITE WHICH PROVIDES INFORMATION ABOUT ASIA SOCIETY PROGRAMS AS WELL AS CONTENT GENERATED SPECIFICALLY FOR THE SITE ON TOPICS OF CURRENT INTEREST. FOR MORE INFORMATION, SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hamid Biglari Vice Chair | OfficerTrustee | 1 | $0 |
Chan Heng Chee Co-Chair | OfficerTrustee | 1 | $0 |
Betsy Z Cohen Vice Chair & Secretary | OfficerTrustee | 1 | $0 |
Robert Niehaus Treasurer | OfficerTrustee | 1 | $0 |
John L Thornton Co-Chair | OfficerTrustee | 1 | $0 |
Lulu C Wang Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Velocity Global Llc Professional Services | 6/29/23 | $182,211 |
Patterson Belknap Webb & Tyler Llp Legal Services | 6/29/23 | $172,548 |
Kpmg Llp Audit And Tax Services | 6/29/23 | $159,452 |
Universal Services Of America Lp Security Services | 6/29/23 | $159,088 |
Solomon-page Group Professional Services | 6/29/23 | $120,363 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,246,569 |
| Investment income | $783,638 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $167,444 |
| Net Rental Income | $185,232 |
| Net Gain/Loss on Asset Sales | $3,966,649 |
| Net Income from Fundraising Events | $34,894 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $40,108 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,268,981 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $10,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,761,682 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,715,618 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,274,598 |
| Pension plan accruals and contributions | $422,914 |
| Other employee benefits | $1,416,908 |
| Payroll taxes | $881,852 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $713,252 |
| Fees for services: Accounting | $127,562 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $16,000 |
| Fees for services: Investment Management | $444,466 |
| Fees for services: Other | $2,991,077 |
| Advertising and promotion | $37,529 |
| Office expenses | $1,085,526 |
| Information technology | $811,234 |
| Royalties | $0 |
| Occupancy | $1,152,043 |
| Travel | $28,967 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $69,545 |
| Interest | $562,852 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,770,492 |
| Insurance | $246,087 |
| All other expenses | $0 |
| Total functional expenses | $28,881,039 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,655,508 |
| Savings and temporary cash investments | $459,344 |
| Pledges and grants receivable | $11,653,409 |
| Accounts receivable, net | $470,561 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $88,498 |
| Prepaid expenses and deferred charges | $367,219 |
| Investments—publicly traded securities | $43,482,113 |
| Investments—other securities | $56,693,629 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $119,897 |
| Total assets | $142,731,939 |
| Accounts payable and accrued expenses | $2,463,832 |
| 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 | $14,633,334 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,667,933 |
| Total liabilities | $19,765,099 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $122,966,840 |
Grants Awarded
Over the last fiscal year, Asia Society has awarded $182,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
THE YEARS PROJECT INC PURPOSE: GREENLAND CLIMATE PROJECT | $90,000 |
JAPANESE ART SOCIETY OF AMERICA (UKIYO-E SOCIETY OF AMERICAINC) PURPOSE: MEIJI MODERN - CARPENTER FOUNDATION FUNDS FOR CATALOGUE | $67,500 |
UNIVERSITY OF CALIFORNIA REGENTS PURPOSE: TASK FORCE ON US-CHINA POLICY | $25,000 |