Asian Healthcare Foundation Ofmassachusetts Inc
- Assets
- $20.0m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- 09/2007
- Data as of
- 06/2023
- EIN
- 20-5004218
Organization Overview
Asian Healthcare Foundation Ofmassachusetts Inc is located in Boston, MA. The organization was established in 2007. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asian Healthcare Foundation Ofmassachusetts 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 06/2023, Asian Healthcare Foundation Ofmassachusetts Inc generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $595.0k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Asian Healthcare Foundation Ofmassachusetts Inc has awarded 50 individual grants totaling $1,917,680. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE ACTIVITIES OF SOUTH COVE COMMUNITY HEALTH CENTER INC.
Describe the Organization's Program Activity:
TO SUPPORT THE ACTIVITIES OF SOUTH COVE COMMUNITY HEALTH CENTER INC. (EIN: 04-2501818). THIS ENTITY WAS ESTABLISHED FOR THIS PURPOSE AS BOTH ARE IRC 501 (C)(3) ENTITIES AND OPERATE AS SUCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alvin Wing Board Member | Trustee | 1 | $0 |
April Tang President | OfficerTrustee | 1 | $0 |
Eugene Welch Treasurer (until 12/31/22) | OfficerTrustee | 1 | $0 |
Frederick Taw Board Member | Trustee | 1 | $0 |
Herman Lee Secretary | OfficerTrustee | 1 | $0 |
Janet Moy Board Member | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $163,242 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,081,419 |
| 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 | $1,244,661 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100,000 |
| Grants and other assistance to domestic individuals. | $7,000 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,987 |
| 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 | $199,429 |
| All other expenses | $0 |
| Total functional expenses | $595,041 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $630,504 |
| Savings and temporary cash investments | $14,191,505 |
| 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 | $553 |
| Net Land, buildings, and equipment | $4,670,460 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $477,507 |
| Total assets | $19,970,529 |
| Accounts payable and accrued expenses | $121 |
| 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 | $3,500 |
| Total liabilities | $3,621 |
| Net assets without donor restrictions | $19,966,908 |
| 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 | $19,970,529 |
Grants Awarded
Over the last fiscal year, Asian Healthcare Foundation Ofmassachusetts Inc has awarded $100,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BCNC PURPOSE: CHINTOWN FAMILY/CHILDREN | $50,000 |
EMERSON COLLEGE PURPOSE: EMPOWER ASIAN COMMUNITY | $50,000 |