The Asian American Foundation
- Assets
- $89.0m
- Revenue
- $16.8m
- Investments
- $0.0
- Employees
- 38
- Location
- Washington, DC
- Founding
- Data as of
- 12/2022
- EIN
- 85-2050585
Organization Overview
The Asian American Foundation is located in Washington, DC. According to its NTEE Classification (R22) the organization is classified as: Minority Rights, under the broad grouping of Civil Rights, Social Action & Advocacy and related organizations. As of 12/2022, Asian American Foundation employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asian American Foundation 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 12/2022, Asian American Foundation generated $16.8m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 64.5% each year . All expenses for the organization totaled $14.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Asian American Foundation has awarded 48 individual grants totaling $13,909,918. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ASIAN AMERICAN FOUNDATION'S (TAAF) SERVES THE AAPI COMMUNITY IN THEIR PURSUIT OF BELONGING AND PROSPERITY THAT IS FREE FROM DISCRIMINATION, SLANDER AND VIOLENCE, IN FURTHERANCE OF ITS CHARITABLE MISSION TAAF CONDUCTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O.
SEE SCHEDULE O.
SEE SCHEDULE O.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norman Chen CEO And Director | OfficerTrustee | 40 | $482,793 |
Jerry Yang Director | Trustee | 2 | $0 |
Joe Tsai Director | Trustee | 2 | $0 |
Jonathan Greenblatt Director | Trustee | 2 | $0 |
Joseph Bae Director | Trustee | 2 | $0 |
Li Lu Chairman | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Enfranchisement Productions Llc Management Consulting | 12/30/22 | $561,500 |
Jasper Inclusion Advisors Llc Management Consulting | 12/30/22 | $329,125 |
Koya Leadership Partners Recruiting | 12/30/22 | $251,487 |
Aryani Ong Consulting Llc Management Consulting | 12/30/22 | $183,150 |
Pcl Consulting Services Llc Management Consulting | 12/30/22 | $176,755 |
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 | $16,737,342 |
| Noncash contributions included in lines 1a–1f | $863,299 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,737,342 |
| Total Program Service Revenue | $0 |
| Investment income | $34,684 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$14,399 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,757,627 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,685,329 |
| 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. | $1,377,100 |
| Compensation of current officers, directors, key employees. | $380,769 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,550,951 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $235,178 |
| Payroll taxes | $207,847 |
| Fees for services: Management | $2,348,415 |
| Fees for services: Legal | $85,286 |
| Fees for services: Accounting | $198,354 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $830,356 |
| Office expenses | $140,138 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,242 |
| Travel | $211,701 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,345 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $44,277 |
| All other expenses | $2,193,178 |
| Total functional expenses | $14,111,697 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $35,161,351 |
| Pledges and grants receivable | $53,480,279 |
| Accounts receivable, net | $109,088 |
| 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 | $187,202 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,393 |
| Total assets | $88,971,313 |
| Accounts payable and accrued expenses | $500,141 |
| Grants payable | $2,815,885 |
| 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 | $3,316,026 |
| Net assets without donor restrictions | $82,664,935 |
| Net assets with donor restrictions | $2,990,352 |
| 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 | $88,971,313 |
Grants Awarded
Over the last fiscal year, The Asian American Foundation has awarded $4,670,168 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
JEREMY LIN FOUNDATION PURPOSE: TAAF CROSS RACIAL SOLIDARITY INITIATIVE | $750,000 |
THE BOARD OF TRUSTEES OF THE UNIVERSITY OF ILLINOIS PURPOSE: TAAF EDUCATION INITIATIVE | $571,168 |
SUNDANCE INSTITUTE PURPOSE: TAAF NARRATIVE CHANGE INITIATIVE | $400,000 |
ASIAN PACIFIC COMMUNITY FUND OF SOUTHERN CALIFORNIA PURPOSE: TAAF EDUCATION INITIATIVE | $425,000 |
NATIONAL ASIAN PACIFIC AMERICAN WOMEN'S FORUM PURPOSE: TAAF REPRESENTATION AND RESOURCES INITIATIVE | $300,000 |
COALITION OF ASIAN PACIFIC IN ENTERTAINMENT FOUNDATION INC PURPOSE: TAAF NARRATIVE CHANGE INITIATIVE | $200,000 |