Asian Pacific Islander Small Business Program Incorporated
- Assets
- $499.2k
- Revenue
- $479.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 04/2004
- Data as of
- 06/2021
- EIN
- 20-0726638
Organization Overview
Asian Pacific Islander Small Business Program Incorporated is located in Los Angeles, CA. The organization was established in 2004. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asian Pacific Islander Small Business Program Incorporated 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, Asian Pacific Islander Small Business Program Incorporated generated $479.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $325.7k 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
THE MISSION OF THE ASIAN PACIFIC ISLANDER SMALL BUSINESS PROGRAM IS TO ASSIST THE DEVELOPMENT OF SMALL & MICRO BUSINESSES IN LOS ANGELES WITH A PARTICULAR FOCUS ON THE CHINESE, CAMBONIAN, KOREAN, JAPANESE, THAI, AND FILIPINO BUSINESS COMMUNITIES, ESPECIALLY THOSE OF LOW-INCOME IMMIGRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASIAN PACIFIC ISLANDER SMALL BUSINESS PROGRAM IS ORGANIZED AND OPERATES FOR THE EXCLUSIVE BENEFIT OF THE SMALL BUSINESS PROGRAM OF LTSC CDC. API SBP AND LTSC CDC HAVE PARALLEL PURPOSE. LTSC CDC SEEKS TO SUPPORT THE HISTORY, CULTURE AND ECONOMIC DEVELOPMENT OF MINORITY AND LOW-INCOME COMMUNITIES, WITH API SBP'S PRIMARY PURPOSE, AS DEFINED IN THE ARTICLES OF INCORPORATION, TO RAISE FUNDS AND DEVELOP COMMUNITY SUPPORT FOR THE SMALL BUSINESS PROGRAMS OF LTSC CDC. ALL FUNDS RECEIVED BY API SBP ARE GIVEN DIRECTLY TO LTSC CDC FOR USE IN ITS SMALL BUSINESS PROGRAM OR TO BE SOLELY USED FOR CHARITABLE ACTIVITIES, WHICH SUPPORT AND BENEFIT THE SMALL BUSINESS PROGRAMS OF LTSC CDC.THE FUNDS RAISED BY THE ORGANIZATION ARE USED TO SUPPORT THE SMALL BUSINESS ASSISTANCE PROGRAM OF LTSC CDC. THE PROGRAM ASSISTED APPROXIMATELY 2,000 ENTREPRENUERS DURING THE YEAR. THE PROGRAM FUNCTIONS PRIMARILY IN FIVE NEIGHBORHOODS OF THE CITY OF LOS ANGELES & ONE NEIGHBORHOOD OF THE CITY OF LONG BEACH, ALL WHICH ARE FEDERALLY-DEFINED LOW-MODERATE INCOME AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chanchanit Martorell President | OfficerTrustee | 0 | $0 |
Fidji Victoriano Treasurer | OfficerTrustee | 0 | $0 |
Erich Nakano Director | Trustee | 0 | $0 |
Johng Ho Song Director | Trustee | 0 | $0 |
Susana Sngiem Director | Trustee | 0 | $0 |
Peter Ng Director | Trustee | 0 | $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 | $479,617 |
| Noncash contributions included in lines 1a–1f | $58,547 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $479,617 |
| Total Program Service Revenue | $0 |
| Investment income | $33 |
| 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 | $479,650 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $255,000 |
| 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. | $0 |
| 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 | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $70,715 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $10 |
| Total functional expenses | $325,725 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,406 |
| Savings and temporary cash investments | $452,791 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $499,197 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $499,197 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $499,197 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Asian Pacific Islander Small Business Program Incorporated has recieved totaling $100,500.
| Awarding Organization | Amount |
|---|---|
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $50,500 |
National Coalition For Asian Pacific American Community Dev Washington, DC PURPOSE: Small Business Network | $50,000 |
Peer Organizations
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|---|---|---|
Alcohol Justice San Rafael, CA | $1,444,255 | $2,007,293 |
Mercado La Paloma Inc Los Angeles, CA | $6,878,012 | $613,882 |
Sandra Day Oconnor Institute Phoenix, AZ | $2,018,643 | $1,483,433 |
Lynx Foundation Novato, CA | $25,094,641 | $88,625 |
California Citrus Quality Council Auburn, CA | $174,846 | $701,118 |
Milk Producers Council Ontario, CA | $352,099 | $565,737 |
Kiwanis Club Of Portland Foundation Portland, OR | $0 | $66,643 |
Carlsbad Airport Centre Owners Association Carlsbad, CA | $175,455 | $363,278 |
Ujf Holdings Corp San Diego, CA | $3,181,098 | $333,062 |
Automotive Service Councils Of California Sacramento, CA | $792,129 | $412,649 |
Spiritual Overseers Service Internaional Corp La Quinta, CA | $150,963 | $360,720 |
Nevada Surplus Lines Foundation Reno, NV | $10,017,031 | $2,652,534 |