Iowa Asian Alliance Foundation
- Assets
- $384.6k
- Revenue
- $499.7k
- Investments
- $0.0
- Employees
- 1
- Location
- West Des Moines, IA
- Founding
- 09/2004
- Data as of
- 12/2022
- EIN
- 20-0557881
Organization Overview
Iowa Asian Alliance Foundation is located in West Des Moines, IA. The organization was established in 2004. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Asian Alliance Foundation 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 12/2022, Iowa Asian Alliance Foundation generated $499.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $367.6k during the year ending 12/2022. While expenses have increased by 2.7% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO UNITE DIVERSE ASIAN, ASIAN AMERICAN, AND PACIFIC ISLANDER COMMUNITIES WITH THE PURPOSE OF FOSTERING ECONOMIC GROWTH AND BROADER COMMUNITY DEVELOPMENT WITHIN THE STATE OF IOWA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION COLLABORATED WITH THE PRIVATE AND PUBLIC SECTORS TO PROMOTE COMMUNICATION AND CULTURAL VITALITY, LEADERSHIP AND EDUCATIONAL ADVANCEMENT, CIVIC RESPONSIBILITY AND ENGAGEMENT AND BUSINESS AND ECONOMIC GROWTH.
GRANTS
CELEBRASIAN, THE ANNUAL ASIAN HERITAGE FESTIVAL IS IAA'S SIGNATURE EVENT ATTRACTING OVER 50K ATTENDEES ANNUALLY. THE PURPOSE OF CELEBRASIAN IS TO INCREASE PUBLIC AWARENESS OF THE SOCIAL, CULTURAL AND ECONOMIC CONTRIBUTIONS OF ASIAN AMERICANS/ PACIFIC ISLANDERS IN IOWA. IT ALSO SERVES TO BRING ALL THE ASIAN AMERICAN COMMUNITIES TOGETHER AS A CRITICAL MASS IN A SINGLE, UNIFIED EVENT THAT SHOWCASES THE TRADITIONAL HERITAGE AND CONTEMPORARY CONTRIBUTIONS OF ASIAN COMMUNITIES IN IOWA THROUGH ART, MUSIC, FOOD, DEMONSTRATIONS, AND HANDS-ON ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nu Huynh Executive Di | Officer | 40 | $85,000 |
Mark Theis Chair | OfficerTrustee | 2 | $0 |
Mindy Cavan Treasurer | OfficerTrustee | 2 | $0 |
Emily Feldmann Secretary | OfficerTrustee | 2 | $0 |
David Yoshimura Governance | Trustee | 2 | $0 |
Liat Kinard Recognition | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $282,949 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $282,949 |
| Total Program Service Revenue | $216,361 |
| Investment income | $408 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $499,718 |
| 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. | $85,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,503 |
| Fees for services: Management | $16,273 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,403 |
| Advertising and promotion | $1,426 |
| Office expenses | $585 |
| Information technology | $489 |
| Royalties | $0 |
| Occupancy | $2,290 |
| Travel | $29 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $663 |
| Insurance | $6,155 |
| All other expenses | $9,366 |
| Total functional expenses | $367,589 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $357,834 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,500 |
| 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 | $0 |
| Net Land, buildings, and equipment | $4,278 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $384,612 |
| Accounts payable and accrued expenses | $23,777 |
| Grants payable | $0 |
| Deferred revenue | $15,000 |
| 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 | $38,777 |
| Net assets without donor restrictions | $289,633 |
| Net assets with donor restrictions | $56,202 |
| 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 | $384,612 |