Vietnamese American Initiative For Development Inc is located in Dorchester, MA. The organization was established in 1996. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Vietnamese American Initiative For Development Inc employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vietnamese American Initiative For Development 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 12/2021, Vietnamese American Initiative For Development Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.4% each year . All expenses for the organization totaled $2.5m during the year ending 12/2021. While expenses have increased by 15.5% 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
VIETNAMESE AMERICAN INITIATIVE FOR DEVELOPMENT, INC. WAS FOUNDED IN 1994 AS A GRASSROOTS COMMUNITY DEVELOPMENT CORPORATION. THE MISSION OF THE AGENCY IS TO BUILD A STRONG VIETNAMESE AMERICAN COMMUNITY AND A VIBRANT FIELDS CORNER NEIGHBORHOOD. THE FOUR BASIC GOALS OF THE MISSION ARE: TO INCREASE CIVIC PARTICIPATION, PROMOTE ECONOMIC DEVELOPMENT AND SELF SUFFICIENCY, TO BUILD AFFORDABLE HOUSING FOR RESIDENTS IN FIELDS CORNER AND THE GREATER DORCHESTER AREA AND TO FOSTER YOUTH LEADERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REAL ESTATE DEVELOPMENT - AS A COMMUNITY DEVELOPMENT CORPORATION, VIETAID'S PRIMARY GOAL IS TO DEVELOP AFFORDABLE HOUSING TO SUPPORT STABILIZING THE WORKING CLASS CORE OF DORCHESTER. ONE WAY WE HAVE WORKED TO ACHIEVE THIS GOAL IS BY BUILDING AFFORDABLE HOUSING DEVELOPMENTS AND DEED RESTRICTING THEM IN PERPETUITY TO CREATE STABILITY AMONG HOUSING OFFERINGS IN THE COMMUNITY. VIETAID HAS DEVELOPED FIVE SIGNIFICANT, MIXED-USE AFFORDABLE HOUSING PROJECTS, ALL OF WHICH ARE LOCATED WITHIN A HALF-MILE RADIUS OF PUBLIC TRANSPORTATION IN DORCHESTER. VIETAID HAS HIRED TRINITY MANAGEMENT, LLC, A COMPANY THAT SPECIALIZES IN MANAGING AFFORDABLE HOUSING IN AN URBAN SETTING, TO MANAGE OUR PORTFOLIO OF 123 AFFORDABLE RENTAL UNITS THAT PROVIDE AFFORDABLE AND QUALITY HOUSING TO OVER 123 FAMILIES AND INDIVIDUALS. WE HELP APPLICANTS NAVIGATE LOW-INCOME HOUSING TAX CREDITS (LIHTC) AND THE MASSACHUSETTS RENTAL VOUCHER PROGRAMS (MVRP).AS A MASSACHUSETTS HOMEOWNERSHIP COLLABORATIVE APPROVED COUNSELING AGENCY, VIETAID SUPPORTS FAMILIES THROUGH THE PROCESS OF RENTING A HOME OR ACQUIRING AFFORDABLE HOUSING, INCLUDING UNDERSTANDING TENANT AND LANDLORD'S RIGHTS AND RESPONSIBILITIES AND NAVIGATING THE CONTRACT BETWEEN THE HOUSING AGENT, LANDLORD, AND TENANT. VIETAID'S FIRST-TIME HOMEBUYER TRAINING TEACHES ABOUT BASIC HOME PURCHASING, FINANCING APPLICATION PROCEDURES, BUILDING CREDIT, MORTGAGE QUALIFICATION, FINANCIAL LITERACY, AND HOMEOWNERSHIP. VIETAID IS THE ONLY PROGRAM IN MASSACHUSETTS THAT PROVIDES HOME BUYING COUNSELING IN VIETNAMESE. WE HAVE ASSISTED OVER 400 FAMILIES THROUGH HOUSING COUNSELING PROGRAMS AND CERTIFIED APPROXIMATELY 600 LIMITED ENGLISH PROFICIENT INDIVIDUALS IN OUR TEN-HOUR WORKSHOPS. VIETAID HELPS LOW-INCOME FAMILIES IMPROVE THEIR INCOME AS WELL AS ACCUMULATE AND EXPAND FAMILY WEALTH BY EDUCATING 250-300 PROSPECTIVE HOMEBUYERS/HOMEOWNERS ON THE HOME-BUYING PROCESS AND HOMEOWNERSHIP, ASSISTING 40-50 GRADUATES IN PURCHASING THEIR FIRST HOMES, AND ASSISTING 100 HOMEOWNERS TO ACCESS RESOURCES TO RETROFIT OR REPAIR THEIR HOMES.
COMMUNITY ORGANIZING AND SUPPORT - VIETAID PARTICIPATES IN AND HOSTS A NUMBER OF EVENTS THROUGHOUT THE YEAR, RECOGNIZING THAT THE CELEBRATION OF A VARIETY OF OCCASIONS ARE KEY TO BUILDING A SENSE OF UNITY AND BELONGING WITHIN THE COMMUNITY. SOME OF THESE INCLUDE: TET, THE VIETNAMESE LUNAR NEW YEAR; DORCHESTER DAY PARADE; AND MANY MORE. IN ADDITION TO VIETAID LED EVENTS, WE ALSO COLLABORATE WITH A WIDE RANGE OF COMMUNITY ORGANIZATIONS AND PARTNERS TO HELP BROADEN OUR REACH IN ENGAGEMENT. WE PARTICIPATE THROUGH VARIOUS MEANS SUCH AS BEING PART OF OTHER HOSTED EVENTS OR COMMUNITY MEETINGS. SOME OF THESE INCLUDE: A TET TALK AT THE MUSEUM OF FINE ARTS; LOVE YOUR BLOCK (A CITY-WIDE CLEAN-UP INITIATIVE); AND MORE.BEYOND CULTURAL CELEBRATIONS AND COMMUNITY SERVICE, VIETAID IS COMMITTED TO PROMOTING SOCIAL JUSTICE AND ADVOCATING FOR AND WITH COMMUNITY MEMBERS ON A NUMBER OF ISSUES. OVER THE YEARS, OUR ORGANIZATION HAS LED CANVASSING EFFORTS FOR INCREASED CIVIC ENGAGEMENT, ENGAGED IN ACTIONS AGAINST DISPLACEMENT, AND SUPPORTED MANY OTHER MOVEMENTS THAT IMPACT OUR COMMUNITY.OLDER ADULT PROGRAM: IN 2018, VIETAID TOOK OVER A DROP IN DAY PROGRAM FOR OLDER ADULTS IN THE DORCHESTER NEIGHBORHOOD. THE ONLY FREE PROGRAM, THIS PROGRAM PROMOTES HEALTHY AGING THROUGH WELLNESS AND CIVIC ENGAGEMENT. BETWEEN 85-120 PARTICIPANTS VISIT THE PROGRAM ON A DAILY BASIS.FOOD DELIVERY: DURING 2021, VIETAID DELIVERED MEALS TO FAMILIES IN DORCHESTER.
EARLY EDUCATION - FOUNDED IN 2005, AU CO PRESCHOOL IS THE FIRST AND ONLY VIETNAMESE BILINGUAL AND BICULTURAL PRESCHOOL PROGRAM IN MASSACHUSETTS. AU CO IS A MASSACHUSETTS DEPARTMENT OF EARLY EDUCATION AND CARE CERTIFIED PROGRAM. MOST CHILDREN ARE SUPPORTED WITH TUITION SUPPORT FROM THE GOVERNMENT OR OUR SCHOLARSHIP PROGRAM. RUN BY SEVEN, EXPERIENCED BILINGUAL AND BICULTURAL DAYCARE PROVIDERS, AU CO PREPARES OUR STUDENTS TO ENROLL IN KINDERGARTEN IN THE BOSTON PUBLIC SCHOOLS WITH AN APPROACH TO EDUCATION THAT SUPPORTS PHYSICAL, SOCIAL, EMOTIONAL, AND COGNITIVE DEVELOPMENT. SPANISH AND PORTUGUESE LANGUAGE SUPPORT ALSO AVAILABLE. OUR CLASSROOMS HAVE A STUDENT: TEACHER RATIO OF 8:1.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lisette Le Executive Director | Officer | 37 | $109,767 |
Kim Thai Chair | OfficerTrustee | 1 | $0 |
Danielle Goatley Treasurer | OfficerTrustee | 1 | $0 |
Kerry Mcgowan Clerk | OfficerTrustee | 1 | $0 |
Jim Collins Member | Trustee | 1 | $0 |
Khang Nguyen Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $23,110 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $1,210,058 |
All other contributions, gifts, grants, and similar amounts not included above | $424,226 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,657,394 |
Total Program Service Revenue | $1,226,388 |
Investment income | $7,480 |
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 | $2,891,262 |
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. | $127,278 |
Compensation of current officers, directors, key employees. | $17,921 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $926,157 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $43,660 |
Payroll taxes | $79,340 |
Fees for services: Management | $1,219 |
Fees for services: Legal | $2,050 |
Fees for services: Accounting | $71,060 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $360,271 |
Advertising and promotion | $0 |
Office expenses | $116,211 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $116,672 |
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 | $156,659 |
Insurance | $0 |
All other expenses | $4,299 |
Total functional expenses | $2,480,925 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $388,733 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $200,896 |
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 | $19,452 |
Net Land, buildings, and equipment | $2,633,061 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $2,282,676 |
Total assets | $5,524,818 |
Accounts payable and accrued expenses | $208,656 |
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 | $1,527,861 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $120,833 |
Total liabilities | $1,857,350 |
Net assets without donor restrictions | $3,589,968 |
Net assets with donor restrictions | $77,500 |
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 | $5,524,818 |
Over the last fiscal year, we have identified 7 grants that Vietnamese American Initiative For Development Inc has recieved totaling $235,106.
Awarding Organization | Amount |
---|---|
Barr Foundation Boston, MA PURPOSE: CLIMATE: TO ENGAGE RESIDENTS OF FIELDS CORNER AND SURROUNDING NEIGHBORHOODS TO DEVELOP CLIMATE RESILIENT STRATEGIES | $150,000 |
The Hyams Foundation Inc Boston, MA PURPOSE: NAIL SALON PROJECT | $35,000 |
Cabot Family Charitable Tr Boston, MA PURPOSE: EXEMPT PURPOSES | $20,000 |
Nellie Mae Education Foundation Inc Quincy, MA PURPOSE: NELLIE MAE CROSS RACIAL SOLIDARITY | $20,000 |
Adelard A & Valeda Lea Roy Foundation Boston, MA PURPOSE: COMMUNITY ENGAGED SERVICE PROGRAM | $5,000 |
Bushrod H Campbell And Adah F Hall Charity Fund Boston, MA PURPOSE: BUILDING THE RESILIENCE OF VIETNAMESE OLDER ADULTS | $5,000 |
Organization Name | Assets | Revenue |
---|---|---|
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |
Boston Tremont Housing Development Fund Corporation New York, NY | $28,761,784 | $24,917,100 |
Highbridge Community Housing Development Fund Corporation Bronx, NY | $37,198,979 | $10,077,862 |
Harlem West Ii Housing Dev Fund Co Inc New York, NY | $7,149,098 | $1,214,746 |
Augustus & James Corporation New York, NY | $14,865,131 | $12,141,215 |
Rupco Inc Kingston, NY | $24,947,682 | $11,097,811 |
Fit-Nhnh Inc Manchester, NH | $20,051,648 | $10,413,245 |
Cambridge Community Housing Development Inc Cambridge, MA | $56,982,552 | $7,704,327 |
New Samaritan Corporation Inc Storrs, CT | $12,270,724 | $7,624,848 |