Asian Chamber Of Commerce
- Assets
- $704.3k
- Revenue
- $437.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Houston, TX
- Founding
- 11/1990
- Data as of
- 12/2021
- EIN
- 76-0316809
Organization Overview
Asian Chamber Of Commerce is located in Houston, TX. The organization was established in 1990. 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. As of 12/2021, Asian Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asian 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, Asian Chamber Of Commerce generated $437.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $323.8k during the year ending 12/2021. While expenses have increased by 2.8% 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
PROMOTING COMMERCE WITH ASIAN AMERICAN BUSINESSES AND ASIAN COUNTRIES VIA LUNCHEONS, SEMINARS AND OTHER NETWORKING EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LUNCHEON - A MONTHLY EVENT TO PROMOTE COMMERCIAL CONNECTION FROM BUSINESS TO BUSINESS IN ASIAN COMMUNITY.
SEMINARS/WORKSHOPS - TO PROVIDE NETWORKING OPPORTUNITIES AND PRESENT SPEAKERS ON BUSINESS TOPICS RELATED TO ASIA AND THE ASIAN-AMERICAN COMMUNITY. BUSINESS CONFERENCE - GOAL OF BUSINESS CONFERENCE IS TO EDUCATE AND PROVIDE OPPORTUNITIES OF TRADE THROUGH EDUCATIONALWORKSHOPS AND A BUSINESS EXPO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bin Yu Chair | OfficerTrustee | 10 | $0 |
Kenneth Li Vice Chair | OfficerTrustee | 5 | $0 |
May Wang Secretary | OfficerTrustee | 1 | $0 |
Fan Chen Board Member | Trustee | 1 | $0 |
Sydney Dao Board Member | Trustee | 1 | $0 |
Illy Jaffer Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $120,499 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $64,880 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $198,379 |
| Total Program Service Revenue | $161,566 |
| Investment income | $49 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $76,962 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $436,956 |
| 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 | $161,388 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,341 |
| Payroll taxes | $11,447 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,823 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,762 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,776 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,779 |
| Insurance | $2,716 |
| All other expenses | $23,900 |
| Total functional expenses | $323,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $247,152 |
| Savings and temporary cash investments | $442,421 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,200 |
| 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 | $60 |
| Net Land, buildings, and equipment | $4,442 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $704,275 |
| Accounts payable and accrued expenses | $2,079 |
| Grants payable | $0 |
| Deferred revenue | $47,500 |
| 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 | $126,070 |
| Total liabilities | $175,649 |
| Net assets without donor restrictions | $528,626 |
| 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 | $704,275 |
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