Asian Business Association
- Assets
- $302.3k
- Revenue
- $957.0k
- Investments
- $0.0
- Employees
- 5
- Location
- San Diego, CA
- Founding
- 06/1992
- Data as of
- 12/2022
- EIN
- 33-0430474
Organization Overview
Asian Business Association is located in San Diego, CA. The organization was established in 1992. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Asian Business Association employed 5 individuals. 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 $957.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.5% each year . All expenses for the organization totaled $1.0m during the year ending 12/2022. While expenses have increased by 19.7% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BUILD SUSTAINABLE COMMUNITIES THROUGH INCLUSIVE ECONOMIC DEVELOPMENT AND QUALIFIED DIVERSE WORKFORCE ACCOMPLISHED THROUGH SMALL BUSINESS TECHNICAL ASSISTANCE, EDUCATION, OUTREACH, ADVOCACY AND ACCESS TO CAPITAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
SMALL BUSINESS DEVELOPMENT CENTER THAT PROVIDES NO-COST ADVISING AND CONSULTING SERVICES TO ENTREPRENEURS AND SMALL BUSINESSES
ASIAN PACIFIC ISLANDER ECONOMIC EQUITY ADVANCEMENT PROGRAM OFFERING TECHNICAL ASSISTANCE AND SMALL BUSINESS ADVISING
SAN DIEGO COUNTY AAPI ECONOMIC AND SMALL BUSINESS DEVELOPMENT STUDY 2021 -2022. SURVEY WHICH THOROUGHLY EXAMINES AAPI BUSINESS COMMUNITY IN THE SAN DIEGO REGION AND EVALUATES THE IMPACT OF THE COVID-19 PANDEMIC ON THEIR ENTERPRISES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Paguio President & CEO | OfficerTrustee | 40 | $170,323 |
Vince Vasquez Director | Trustee | 1 | $7,500 |
Jeni Burgess Chairwoman | OfficerTrustee | 4 | $0 |
Robert Ito Vice Chair | OfficerTrustee | 2 | $0 |
Yen Tu Vice Chair | OfficerTrustee | 2 | $0 |
Kent Lee Treasurer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dovetail Partners Business Consulting | 12/30/22 | $107,100 |
Mcveigh Global Meetings & Events Llc Ca Leaders Event Mgmt | 12/30/22 | $141,166 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $96,825 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $80,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $594,034 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $770,859 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $6,452 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $956,976 |
| 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. | $181,824 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $242,699 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $24,187 |
| Payroll taxes | $31,025 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,297 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $296,550 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $2,156 |
| Royalties | $0 |
| Occupancy | $49,954 |
| Travel | $15,288 |
| 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 | $1,133 |
| Insurance | $1,701 |
| All other expenses | $31,028 |
| Total functional expenses | $1,010,486 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,563 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $206,311 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $67,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,561 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,401 |
| Total assets | $302,336 |
| Accounts payable and accrued expenses | $13,032 |
| 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 | $13,032 |
| 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 | $289,304 |
| Total liabilities and net assets/fund balances | $302,336 |