Asian & Pacific Islander American Chamber Of Commerce And Entrepren
- Assets
- $1.9m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 8
- Location
- Washington, DC
- Founding
- 08/2014
- Data as of
- 12/2021
- EIN
- 46-2071116
Organization Overview
Asian & Pacific Islander American Chamber Of Commerce And Entrepren is located in Washington, DC. The organization was established in 2014. 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. As of 12/2021, Asian & Pacific Islander American Chamber Of Commerce And Entrepren employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asian & Pacific Islander American Chamber Of Commerce And Entrepren 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 12/2021, Asian & Pacific Islander American Chamber Of Commerce And Entrepren generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 67.1% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 36.8% per year over the past 4 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
TO IMPROVE THE QUALITY OF LIFE FOR ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) BY ASSISTING THE AAPI COMMUNITY THROUGH BUSINESS EDUCATION AND TRAINING, RESEARCH, AND COMMUNITY DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COVID-19 RESPONSE - NATIONAL ACE HAS A DEMONSTRATED TRACK RECORD OF WORKING WITH AAPI AND MINORITY ENTREPRENEURS AND BUSINESSES TO SUPPORT CAPACITY BUILDING EFFORTS THROUGH DIVERSITY, EQUALITY AND INCLUSION, ECONOMIC EMPOWERMENT, ACCESS TO TRADITIONAL AND ALTERNATIVE FORMS OF FINANCING, AND IN-LANGUAGE TECHNICAL ASSISTANCE. NATIONAL ACE CREATED THE SMALL BUSINESS RECOVERY RESOURCE CENTER WHICH PROVIDES SMALL BUSINESS TECHNICAL ASSISTANCE AND CAPACITY BUILDING SUPPORT SERVICES TO AAPIS AND MINORITY BUSINESS ENTREPRENEURS (MBES) IN RESPONSE TO COVID-19. NATIONAL ACE HAS CONDUCTED NATIONAL SURVEYS ON THE EXPERIENCE OF AAPI BUSINESS OWNERS DURING THE COVID-19 PANDEMIC.
ACE NEXTGEN - ONE OF ACE'S FLAGSHIP PROGRAMS IS "NEXTGEN: INNER CIRCLES." NEXTGEN SIGNIFIES OUR NEXT GENERATION OF LEADERS AND ENTREPRENEURS IN THE AAPI COMMUNITY. INNER CIRCLES IS A NATIONAL PROGRAM WHERE YOUNG ENTREPRENEURS CAN DISCUSS AND PROBLEM-SOLVE THE TOUGHEST CHALLENGES THEY FACE. PEERS SHARE PROFESSIONAL AND PERSONAL EXPERIENCES THAT CAN HELP OTHERS LEARN, GROW, OR RECEIVE SUPPORT. THIS INVOLVES CREATING A SAFE AND SUPPORTIVE ENVIRONMENT TO DIVE INTO RISKS, FEARS, AND VULNERABILITIES. THE PROGRAM MAINTAINS A SUPPORT NETWORK OF ENTREPRENEURS AND BUSINESS OWNERS OF AAPI HERITAGE TO ENSURE THAT MORE SMALL-BUSINESS ENTERPRISES SUCCEED IN BUILDING THEIR BUSINESSES, FIND WAYS TO CAPITALIZE THEIR BUSINESSES AND CREATE NEW, SUSTAINABLE JOBS.
AAPISTRONG - ACE WORKS WITH ASIAN AMERICAN AND PACIFIC ISLANDER BUSINESS COMMUNITIES THROUGH OUR VIRTUAL TECHNICAL ASSISTANCE PROGRAM TO PROVIDE SMALL BUSINESSES AND ENTREPRENEURS THE RESOURCES AND EDUCATION THEY NEED TO BE SUCCESSFUL. ACE'S GOAL IS TO HELP ORGANIZATIONS DEVELOP EFFECTIVE COMMUNICATIONS, MARKETING, AND SOCIAL MEDIA BY TEACHING AND ONE-ON-ONE CONSULTING TO CHAMBERS, NON-PROFIT GROUPS, AND SMALL BUSINESSES WHO WANT TO TRANSITION TO DIGITAL PLATFORMS. ACE ALSO SUPPORTS MINORITY BUSINESS ENTERPRISES AND AAPI CHAMBERS OF COMMERCE BY INVESTING IN LOCAL COMMUNITIES WHILE WORKING TO IMPROVE THE WELL-BEING, ECONOMIC RESILIENCE, AND MOBILITY OF THE MINORITY BUSINESS COMMUNITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chiling Tong President & CEO | Officer | 38.08 | $183,050 |
Daniel Oliver COO | 36.2 | $121,735 | |
Karen Eng Chairwoman | OfficerTrustee | 2 | $0 |
Susan Jin Davis Vice Chair | OfficerTrustee | 2 | $0 |
Mariko Carpenter Secretary | OfficerTrustee | 2 | $0 |
Tracey Doi Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $388,077 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,625,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,013,077 |
| Total Program Service Revenue | $1,169,814 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,182,897 |
| 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. | $198,088 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $365,449 |
| Pension plan accruals and contributions | $8,979 |
| Other employee benefits | $50,769 |
| Payroll taxes | $53,125 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,466 |
| Fees for services: Accounting | $16,057 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $420,565 |
| Advertising and promotion | $2,062 |
| Office expenses | $63,026 |
| Information technology | $13,245 |
| Royalties | $0 |
| Occupancy | $16,807 |
| Travel | $13,725 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $74,361 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,876 |
| Insurance | $4,047 |
| All other expenses | $0 |
| Total functional expenses | $1,585,321 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,585,065 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,000 |
| 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 | $11,936 |
| Net Land, buildings, and equipment | $6,342 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $301,589 |
| Total assets | $1,929,932 |
| Accounts payable and accrued expenses | $70,267 |
| 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 | $25,006 |
| Total liabilities | $95,273 |
| Net assets without donor restrictions | $1,317,576 |
| Net assets with donor restrictions | $517,083 |
| 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 | $1,929,932 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Asian & Pacific Islander American Chamber Of Commerce And Entrepren has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
Aarp Washington, DC PURPOSE: Sponsorship of informational forums | $50,000 |
National Gay & Lesbian Chamber Of Commerce Washington, DC PURPOSE: 2021 DOORDASH | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amt-The Association For Manufacturing Technology Mclean, VA | $46,538,427 | $7,983,774 |
Personal Care Products Council Washington, DC | $26,566,920 | $19,071,135 |
American Hotel & Lodging Association Directory Corporation Washington, DC | $39,158,961 | $23,973,024 |
Responsible Business Alliance Inc Alexandria, VA | $17,217,182 | $20,384,843 |
Asis International Inc Alexandria, VA | $27,323,586 | $13,144,142 |
National Institute For Automotive Service Exellence Leesburg, VA | $25,163,895 | $18,755,834 |
International Masonry Institute Bowie, MD | $25,662,049 | $19,254,775 |
Association For Financial Professionals Inc Bethesda, MD | $30,134,135 | $15,069,162 |
Portland Cement Association Alexandria, VA | $21,852,055 | $18,216,465 |
American College Of Radiology Association Reston, VA | $28,168,186 | $16,951,008 |
Plastics Industry Association Inc Washington, DC | $19,265,703 | $12,261,158 |
Aerospace Industries Association Of America Inc Arlington, VA | $34,239,387 | $18,520,879 |