California Asian Pacific Chamber Of Commerce
- Assets
- $2.4m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Sacramento, CA
- Founding
- 01/2008
- Data as of
- 12/2021
- EIN
- 38-3737264
Organization Overview
California Asian Pacific Chamber Of Commerce is located in Sacramento, CA. The organization was established in 2008. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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. California Asian Pacific Chamber Of Commerce is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, California Asian Pacific Chamber Of Commerce generated $3.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $2.8m during the year ending 12/2021. While expenses have increased by 9.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO GROW AND EMPOWER THE ASIAN PACIFIC ISLANDER BUSINESS COMMUNITY THROUGHOUT CALIFORNIA THROUGH ACCESS, EDUCATION AND OPPORTUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, THE CHAMBER CONTINUED ITS WORK ON A FEDERAL GRANT WITH THE U.S. DEPARTMENT OF TRANSPORTATION, CONCLUDED A FEDERAL GRANT WITH THE U.S. DEPARTMENT OF COMMERCE, AND STARTED OPERATIONS ON ANOTHER FEDERAL GRANT WITH THE U.S. DEPARTMENT OF COMMERCE. THESE GRANTS PROVIDED FOR THE FOLLOWING: THE MBDA EXPORT CENTER WHICH CONCLUDED DURING 2021 AND PROVIDED TECHNICAL ASSISTANCE AND BUSINESS DEVELOPMENT SERVICES TO COMPANIES TO GENERATE INCREASED FINANCING, CONTRACT OPPORTUNITIES, AND GREATER ACCESS TO NEW AND GLOBAL MARKETS FOR MINORITY BUSINESS ENTERPRISES (MBES); THE MBDA BUSINESS CENTER WHICH STARTED DURING 2021 AND PROVIDED TECHNICAL ASSISTANCE AND BUSINESS SERVICES TO MINORITY BUSINESS ENTERPRISES, AS WELL AS ASSISTING WITH FINANCING AND CONTRACT OPPORTUNITIES UNDER THE SMALL BUSINESS TRANSPORTATION RESOURCE CENTER (SBTRC). THE CHAMBER ASSISTED SMALL BUSINESSES WITH PROCUREMENT AND BONDING, PROVIDING TECHNICAL ASSISTANCE AND 1-ON-1 CONSULTING. THE CHAMBER WAS ALSO AWARDED A SEPARATE CONTRACT BY THE STATE OF CALIFORNIA'S GOVERNOR'S OFFICE OF BUSINESS AND ECONOMIC DEVELOPMENT (GO-BIZ) UNDER THE SB-TAEP PROGRAM TO HELP EXPAND THE SCOPE OF SERVICES OFFERED BY THE CHAMBER'S MBDA ND SBTRC CENTERS.
THE CHAMBER VIRTUALLY HOSTED A HIGHLY SUCCESSFUL VIRTUAL LEGISLATIVE SUMMIT THAT BROUGHT TOGETHER STATEWIDE COMMUNITY LEADERS, SMALL BUSINESS OWNERS AND BOTH SIDES OF THE LEGISLATORS TO WORK TOGETHER TO PROMOTE A MORE BUSINESS-FRIENDLY ENVIRONMENT IN THE STATE AND PROMOTE JOBS IN CALIFORNIA. IN ADDITION, THE CHAMBER HELD A VIRTUAL STATEWIDE POLICY SUMMIT WHICH LOOKED AT KEY ISSUES FACING SMALL BUSINESSES IN CALIFORNIA TODAY.
IN 2021, THE CHAMBER CONTINUED TO OPERATE THE SMALL BUSINESS TRIAGE CENTER IN RESPONSE TO THE RECESSION BROUGHT ON BY THE COVID-19 PANDEMIC. THE TRIAGE CENTER ASSISTED BUSINESSES WITH THE PPP AND EIDL LOAN PROCESS; CONNECTED BUSINESSES TO NECESSARY RESOURCES; CONDUCTED TEHCNICAL ASSISTANCE WORKSHOPS; AND PROVIDED ONE-ON-ONE CONSULTING.
THE CHAMBER HELD A VIRTUAL MNORITY WOMENS CONFERENCE AND SEVERAL EDUCATONAL WEBINARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Wong Treasurer | OfficerTrustee | 2 | $0 |
Kathy Mckim Chair | OfficerTrustee | 2 | $0 |
George Tanaka Past Chair | OfficerTrustee | 0.5 | $0 |
John Gutierrez Incoming Chair | OfficerTrustee | 0.5 | $0 |
Traci Lee Secretary | OfficerTrustee | 1 | $0 |
Ron Wong Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $763,724 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,500 |
| Noncash contributions included in lines 1a–1f | $12,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $786,224 |
| Total Program Service Revenue | $3,109,396 |
| Investment income | $0 |
| 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 | $3,895,620 |
| 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. | $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 | $3,750 |
| Fees for services: Legal | $4,160 |
| Fees for services: Accounting | $22,449 |
| Fees for services: Lobbying | $123,640 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $597,100 |
| Advertising and promotion | $23,146 |
| Office expenses | $41,770 |
| Information technology | $29,426 |
| Royalties | $0 |
| Occupancy | $24,592 |
| Travel | $12,502 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,434 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,497 |
| Insurance | $8,161 |
| All other expenses | $0 |
| Total functional expenses | $2,837,822 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,339,475 |
| Savings and temporary cash investments | $200,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $805,467 |
| 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 | $21,464 |
| Net Land, buildings, and equipment | $4,664 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,371,070 |
| Accounts payable and accrued expenses | $285,184 |
| Grants payable | $0 |
| Deferred revenue | $222,059 |
| 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 | $44,891 |
| Total liabilities | $552,134 |
| Net assets without donor restrictions | $1,818,936 |
| 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 | $2,371,070 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that California Asian Pacific Chamber Of Commerce has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $50,000 |
Mufg Union Bank Foundation Ag Phoenix, AZ PURPOSE: CHARITABLE | $25,000 |
California Assn Of Hospitals & Health Systems Sacramento, CA PURPOSE: GENERAL SUPPORT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chinatown Service Center Los Angeles, CA | $26,778,687 | $27,867,616 |
Sag-Aftra & Industry Sound Recordings Distribution Fund Valley Village, CA | $48,142,351 | $13,604,136 |
Electric & Gas Industries Association Sacramento, CA | $14,735,713 | $15,175,016 |
American Pistachio Growers Fresno, CA | $11,494,323 | $15,365,842 |
National Council For Prescription Drug Programs Inc Scottsdale, AZ | $21,339,680 | $12,526,720 |
Travel Portland Portland, OR | $18,865,244 | $9,767,566 |
California Society Of Certified Public Accountants Burlingame, CA | $29,880,424 | $13,544,885 |
Scottsdale Convention And Vistors Bureau Inc Scottsdale, AZ | $8,006,659 | $12,242,411 |
Sustainable Apparel Coalition Inc Oakland, CA | $12,069,125 | $10,210,019 |
Portland Business Alliance Portland, OR | $2,909,182 | $8,830,293 |
California Certified Public Accountants Foundation Burlingame, CA | $12,236,942 | $9,436,468 |
California Life Sciences Association San Diego, CA | $8,698,147 | $9,649,305 |