Asian-American Homeownership Counseling Inc
- Assets
- $0.0
- Revenue
- $15.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Rockville, MD
- Founding
- 10/2010
- Data as of
- 12/2019
- EIN
- 27-2195936
Organization Overview
Asian-American Homeownership Counseling Inc is located in Rockville, MD. The organization was established in 2010. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2019, Asian-American Homeownership Counseling Inc employed 3 individuals. Asian-American Homeownership Counseling 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 12/2019, Asian-American Homeownership Counseling Inc generated $15.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (51.6%) each year. All expenses for the organization totaled $622.8k during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE COUNSELING, EDUCATION, AND RESOURCES TO LOW-MODERATE INCOME IMMIGRANT FAMILIES TO ACHIEVE THE AMERICAN DREAM OF HOMEOWNERSHIP AND BECOME FINANCIALLY SELF-SUFFICIENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVICED TOTAL OF 990 HOUSEHOLDS WITH FORECLOSURE PREVENTION & DEFAULT SERVICES, MONTHLY GROUP FIRST TIME HOMEBUYER EDUCATION CLASSES AND ONE-ON-ONE COUNSELING/COACHING ON PRE- & POST - PURCHASE, CREDIT AND MONEY MANAGEMENT, STUDENT LOAN DEBTS, REVERSE MORTGAGE FOR SENIOR HOMEOWNERS IN MARYLAND, DC AND VIRGINIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Song Hutchins President/ceo | OfficerTrustee | 40 | $87,707 |
Susan Mekenney Chairman | OfficerTrustee | 0.5 | $0 |
Shani Else Secretary | OfficerTrustee | 1 | $0 |
Jae Young Shin Treasurer | OfficerTrustee | 0.5 | $0 |
Gracia Divina Valera-Jaramillo Board Member | Trustee | 0.5 | $0 |
Larry La Board Member | Trustee | 0.5 | $0 |
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 | $4,562 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,562 |
| Total Program Service Revenue | $6,407 |
| Investment income | $5,354 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,359 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,866 |
| 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. | $87,707 |
| Compensation of current officers, directors, key employees. | $4,762 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,800 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,888 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $176 |
| Advertising and promotion | $3,383 |
| Office expenses | $1,260 |
| Information technology | $2,647 |
| Royalties | $0 |
| Occupancy | $9,225 |
| Travel | $6,312 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $701 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $887 |
| Insurance | $289 |
| All other expenses | $0 |
| Total functional expenses | $622,770 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $0 |