Asian Business Association
- Assets
- $113.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Tysons Corner, VA
- Founding
- 12/2009
- Data as of
- 12/2022
- EIN
- 26-4082119
Organization Overview
Asian Business Association is located in Tysons Corner, VA. The organization was established in 2009. 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. Asian Business Association 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 12/2022, Asian Business Association generated $180.1k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $174.4k during the year ending 12/2022. While expenses have increased by 11.7% per year over the past 8 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
PROGRAMS INCLUDE: CHAMBER AWARD PRGM/GALA: RECOGNIZES ASIAN PAC AM BUSINESSES & LEADERS WHO MADE OUTSTANDING CONNECTIONS TO WDC BUSINESS COMMUNITY/ECONOMY & BRINGS TOGETHER MEMBERS/GUEST, NATIONAL/LOCAL ELECTED OFFICIALS & BUSINESS LEADERS BUSINESS SUMMIT & EXPO: BRINGS TOGETHER LEADING ASIAN PAC AM BUSINESS/ORGANIZATIONS & CONNECT WITH GOVERNMENT RESOURCES/BUILD BUSINESS PARTNERSHIPS & GAIN EDUCATION/MARKETING EXPOSURES WHILE EXPANDING NETWORK BUSINESS NETWORKING PRGRM: PROVIDES A PLATFORM FOR BUSINESSES TO EXPAND NETWORK, BUILD REFERRAL PARTNERS AND FIND WAYS TO WORK TOGETHER GROWING THEIR BUSINESS TO SUPPORT BUSINESS COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Beldin Chair | 5 | $0 | |
John Lin Vice Chair | 12 | $0 | |
Stanley Fujii Secretary | 1.5 | $0 | |
Hao Chen Treasurer | 3 | $0 | |
Cindy Shao President | 40 | $60,000 | |
Fred Seo Director | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $99,550 |
| Total Program Service Revenue | $55,651 |
| Membership dues | $24,885 |
| Investment income | $31 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $180,117 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $71,550 |
| Professional fees and other payments to independent contractors | $25,002 |
| Occupancy, rent, utilities, and maintenance | $5,950 |
| Printing, publications, postage, and shipping | $4,000 |
| Other expenses | $67,875 |
| Total expenses | $174,377 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $113,326 |
| Other assets | $0 |
| Total assets | $113,326 |
| Total liabilities | $62,075 |
| Net assets or fund balances | $51,251 |