California Asian Pacific Chamber Of Commerce
- Assets
- $3.9m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Sacramento, CA
- Founding
- 01/2008
- Data as of
- 12/2023
- EIN
- 38-3737264
Organization Overview
California Asian Pacific Chamber Of Commerce is located in Sacramento, CA. The organization was established in 2008. 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. California Asian Pacific Chamber Of Commerce 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 12/2023, California Asian Pacific Chamber Of Commerce generated $4.2m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $3.4m during the year ending 12/2023. While expenses have increased by 9.7% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO GROW AND EMPOWER THE ASIAN PACIFIC ISLANDER BUSINESS COMMUNITY THROUGHOUT CALIFORNIA THROUGH ACCESS, EDUCATION AND OPPORTUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, THE CHAMBER CONTINUED ITS WORK ON 3 FEDERAL GRANTS - ONE WITH THE U.S. DEPARTMENT OF TRANSPORTATION, ONE WITH THE U.S. DEPARTMENT OF COMMERCE, AND ONE WITH THE NORCAL SBDC NETWORK - AND BEGAN WORK ON A NEW GRANT WITH THE U.S. DEPT OF COMMERCE. THE MBDA BUSINESS CENTER, WHICH STARTED IN 2021, CONTINUES TO PROVIDE TECHNICAL ASSISTANCE AND BUSINESS SERVICES TO MINORITY BUSINESS ENTERPRISES, AS WELL AS ASSISTING WITH FINANCING AND CONTRACT OPPORTUNITIES, UNDER THE SMALL BUSINESS TRANSPORTATION RESOURCE CENTER (SBTRC). THE CHAMBER ASSISTED SMALL BUSINESSES WITH PROCUREMENT AND BONDING, PROVIDING TECHNICAL ASSISTANCE AND 1-ON-1 CONSULTING TO FIRMS.THE CHAMBER WAS ALSO AWARDED A SEPARATE CONTRACT BY THE STATE OF CALIFORNIA'S GOVERNOR'S OFFICE OF BUSINESS AND ECONOMIC DEVELOPMENT (GO-BIZ) UNDER THE SB-TAP PROGRAM TO HELP EXPAND THE SCOPE OF SERVICES OFFERED BY THE CHAMBER'S TECHNICAL ASSISTANCE PROGRAMS. THE SAN JOAQUIN SMALL BUSINESS DEVELOPMENT CENTER (SBDC) STARTED IN 2022, PROVIDING TECHNICAL ASSISTANCE AND CONSULTING SERVICES TO SMALL BUSINESSES IN SAN JOAQUIN COUNTY, ASSISTING WITH ACCESS TO CAPITAL, FINANCING, PROCUREMENT,AND BUSINESS DEVELOPMENT. THE MBDA CAPITAL READINESS PROGRAM (ELECTRIFY CALIFORNIA) STARTED IN 2023, PROVIDING TECHNICAL ASSISTANCE AND ACCESS TO CAPITAL AND FINANCING OPPORTUNITIES FOR MINORITY SMALL BUSINESSES LOOKING TO WORK IN THE ELECTRIFICATION INDUSTRY.
THE CHAMBER HELD A VIRTUAL MNORITY WOMENS CONFERENCE AND SEVERAL EDUCATONAL WEBINARS.
THE CHAMBER HOSTED A HIGHLY SUCCESSFUL VIRTUAL LEGISLATIVE SUMMIT THAT BROUGHT TOGETHER STATEWIDE COMMUNITY LEADERS, SMALL BUSINESS OWNERS AND BOTH SIDES OF THE LEGISLATORS TO WORK TOGETHER TO PROMOTE A MORE BUSINESS-FRIENDLY ENVIRONMENT IN THE STATE AND PROMOTE JOBS IN CALIFORNIA. IN ADDITION, THE CHAMBER ALSO HELD A VIRTUAL STATEWIDE POLICY SUMMIT WHICH LOOKED AT KEY ISSUES FACING SMALL BUSINESSES IN CALIFORNIA TODAY.
IN 2023, THE CHAMBER HOSTED ITS SECOND ANNUAL CALIFORNIA DIVERSITY AWARDS, IN PARTNERSHIP WITH THE CALIFORNIA HISPANIC AND AFRICAN-AMERICAN CHAMBERS OF COMMERCE. THROUGH A NOMINATION PROCESS, A TOP PUBLIC OFFICIAL AND A CORPORATE BUSINESS RECEIVED AWARDS FOR THEIR DEDICATION AND COMMITMENT TO DIVERSITY, EQUITY, AND INCLUSION (DEI), ADVANCING OPPORTUNITIES IN THE WORKPLACE, CREATING MORE INCLUSIVE POLICIES, AND ENSURING INVESTMENTS IN CALIFORNIA'S DIVERSE COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherin Borg Director | Trustee | 1 | $0 |
Kara Bush Director | Trustee | 0.5 | $0 |
Tim Yamauchi Director | Trustee | 1 | $0 |
Kathy Mckim Past Chair | OfficerTrustee | 1 | $0 |
Jason Chan Director | Trustee | 0.5 | $0 |
Rena Davis Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Integrated Communications Strategies Economic Developmnet Strategies | 12/30/23 | $136,000 |
Strategies 360 Public Policy Firm | 12/30/23 | $130,320 |
Olga Martinez Consultant For Mbda Business Center | 12/30/23 | $129,681 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $829,754 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,282,753 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,112,507 |
| Total Program Service Revenue | $1,052,367 |
| Investment income | $34,223 |
| 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 | $4,199,097 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,640 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $273,895 |
| Advertising and promotion | $0 |
| Office expenses | $59,114 |
| Information technology | $41,764 |
| Royalties | $0 |
| Occupancy | $81,619 |
| Travel | $36,201 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $56,642 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,283 |
| All other expenses | $30,000 |
| Total functional expenses | $3,449,318 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,328,326 |
| Savings and temporary cash investments | $1,341,922 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,232,243 |
| 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 | $22,223 |
| 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 | $3,924,714 |
| Accounts payable and accrued expenses | $639,037 |
| 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 | $639,037 |
| Net assets without donor restrictions | $3,020,677 |
| Net assets with donor restrictions | $265,000 |
| 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 | $3,924,714 |