Asian Business Institute And Resource Center
- Assets
- $1.1m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 14
- Location
- Fresno, CA
- Founding
- 03/2009
- Data as of
- 06/2022
- EIN
- 26-1988676
Organization Overview
Asian Business Institute And Resource Center is located in Fresno, CA. The organization was established in 2009. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Asian Business Institute And Resource Center employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asian Business Institute And Resource Center 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 06/2022, Asian Business Institute And Resource Center generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 71.4% each year . All expenses for the organization totaled $1.5m during the year ending 06/2022. While expenses have increased by 66.7% per year over the past 4 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
TO BUILD A STRONG NETWORK OF ASIAN AMERICAN BUSINESS OWNERS TO PROMOTE AND ADVOCATE FOR THE SUSTAINED SUCCESS OF ASIAN BUSINESSES IN THE CENTRAL CALIFORNIA REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUTREACH PROGRAMS INCLUDING A MONTHLY BROADCAST, GROUNDWATER SUSTAINABLE AND OUTREACH PROGRAMS, AND BUSINESS TECHNICAL ASSISTANCE PROGRAMS FOR SOUTHEAST AND SMALL BUSINESSES IN THE CENTRAL VALLEY. SOCIAL PROGRAMS TO CONNECT FARMING AND FOOD ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Blong Xiong Executive Director | 40 | $40,015 | |
Stanley Tom President | Trustee | 40 | $0 |
Samantha Yang Treasurer | Trustee | 1 | $0 |
Sheng Simon Vang Secretary | Trustee | 1 | $0 |
Chorneng Yang Board Member | Trustee | 1 | $0 |
Lang Vang Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,191,563 |
| All other contributions, gifts, grants, and similar amounts not included above | $435,246 |
| Noncash contributions included in lines 1a–1f | $2,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,626,809 |
| Total Program Service Revenue | $102,229 |
| Investment income | $30 |
| 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 | $1,748,300 |
| 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. | $40,015 |
| Compensation of current officers, directors, key employees. | $20,007 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $320,694 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,180 |
| Payroll taxes | $44,347 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15 |
| Fees for services: Accounting | $7,258 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,508 |
| Advertising and promotion | $0 |
| Office expenses | $35,515 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,953 |
| Travel | $6,968 |
| 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 | $6,154 |
| All other expenses | $8,593 |
| Total functional expenses | $1,454,593 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $976,468 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $97,864 |
| 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 | $1,074,332 |
| Accounts payable and accrued expenses | $9,047 |
| Grants payable | $0 |
| Deferred revenue | $172,431 |
| 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 | $10,037 |
| Total liabilities | $191,515 |
| Net assets without donor restrictions | $882,817 |
| 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 | $1,074,332 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Asian Business Institute And Resource Center has recieved totaling $204,250.
| Awarding Organization | Amount |
|---|---|
Tomkat Ranch Educational Foundation Pescadero, CA PURPOSE: GENERAL SUPPORT | $134,000 |
Sierra Health Foundation Center For Health Program Management Sacramento, CA PURPOSE: ADVOCATING FOR MICRO FARMERS IN THE VALLEY | $50,000 |
Mufg Union Bank Foundation Ag Phoenix, AZ PURPOSE: CHARITABLE | $20,000 |
Lpl Financial Foundation Inc Boston, MA PURPOSE: OPERATIONAL SUPPORT | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Civic San Diego San Diego, CA | $12,596,747 | $8,835,597 |
Csac Finance Corporation Sacramento, CA | $22,360,310 | $12,934,423 |
Ampac Tri-State Cdc Inc Ontario, CA | $22,461,621 | $9,676,882 |
Local First Arizona Foundation Phoenix, AZ | $3,232,104 | $5,988,087 |
Inclusive Action For The City Los Angeles, CA | $6,839,271 | $6,785,637 |
Genesis La Economic Growth Corporation Los Angeles, CA | $84,073,617 | $20,248,596 |
Business Development Finance Corporation Tucson, AZ | $22,193,625 | $4,107,444 |
Economic Development Collaborative Ventura County Camarillo, CA | $6,956,185 | $3,790,106 |
Accessity San Diego, CA | $20,855,169 | $4,197,275 |
Polk Community Development Corporation Dallas, OR | $22,075,845 | $5,307,917 |
Sustainable Economic Enterprises Of Los Angeles Los Angeles, CA | $2,131,089 | $4,310,365 |
Historic Core Business Improvement District Property Owners Assoc Inc Los Angeles, CA | $576,634 | $2,619,214 |