National Asian & Pacific Islander American Chamber Of Commerce & Ent
- Assets
- $1.7m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 9
- Location
- Washington, DC
- Founding
- 08/2014
- Data as of
- 12/2023
- EIN
- 46-2071116
Organization Overview
National Asian & Pacific Islander American Chamber Of Commerce & Ent, operating under the name National Ace, 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 12/2023, National Ace employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Ace 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, National Ace generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 31.0% each year . All expenses for the organization totaled $2.2m during the year ending 12/2023. While expenses have increased by 30.0% per year over the past 6 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.
Since 2022, National Ace has awarded 27 individual grants totaling $343,050. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCE THE ASIAN AMERICAN AND PACIFIC ISLANDER BUSINESS COMMUNITY BY FOSTERING ECONOMIC GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AAPISTRONG - THE NATIONAL 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.
CONFERENCES AND SUMMITS - THE NATIONAL ACE AAPISTRONG ANNUAL CONFERENCE BROUGHT TOGETHER ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) ENTREPRENEURS, SMALL BUSINESS OWNERS, LOCAL AAPI CHAMBERS OF COMMERCE FROM AROUND THE COUNTRY, CORPORATE PARTNERS, AND COMMUNITY LEADERS TO ENGAGE IN LEADERSHIP PROGRAMMING AND NETWORK BUILDING. PARTICIPANTS WILL DISCOVER INNOVATIVE OPPORTUNITIES FOR CAPITAL BUILDING, RECEIVE LEGISLATIVE UPDATES, AND HEAR INSPIRING STORIES FROM ENTREPRENEURS IN THE COMMUNITY. NATIONAL ACE ALSO HOSTS OTHER EVENTS AND SUMMITS FOR SMALL BUSINESS OWNERS FOR ACCESS TO CAPITAL, INVESTING IN AANHPI BUSINESSES, AND STAYING COMPETITIVE IN A DIGITAL WORLD.
SPECIAL PROJECTS - THE NATIONAL ACE ENGAGES IN SPECIAL PROJECTS TO SUPPORT AANHPI SMALL BUSINESS OWNERS ACROSS INDUSTRIES BY PROVIDING CASH GRANTS. WE PROVIDE FUNDING TO ELIGIBLE SMALL BUSINESS OWNERS TO PROVIDE WORKING CAPITAL FOR THEIR COMPANIES TO GROW AND ECONOMICALLY THRIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pat Fong Kushida Director/consultant | Trustee | 1 | $37,448 |
Thear Suzuki Chair | OfficerTrustee | 2 | $0 |
Garrett Gin Chair-Elect | OfficerTrustee | 2 | $0 |
Grace Lee Treasurer | OfficerTrustee | 2 | $0 |
Angela Chang Secretary | OfficerTrustee | 2 | $0 |
Mariko Carpenter Director (through June 2023) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Public Private Strategies Policy Consulting | 12/30/23 | $120,000 |
Golden Catalyst Consulting | 12/30/23 | $107,375 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $155,559 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,098,031 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,253,590 |
| Total Program Service Revenue | $789,000 |
| Investment income | $17,491 |
| 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 | $2,061,081 |
| 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. | $322,068 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $560,075 |
| Pension plan accruals and contributions | $1,576 |
| Other employee benefits | $34,920 |
| Payroll taxes | $61,143 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,375 |
| Fees for services: Accounting | $79,943 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2 |
| Fees for services: Other | $772,157 |
| Advertising and promotion | $600 |
| Office expenses | $35,547 |
| Information technology | $1,107 |
| Royalties | $0 |
| Occupancy | $18,327 |
| Travel | $85,549 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $154,983 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,444 |
| Insurance | $5,679 |
| All other expenses | $0 |
| Total functional expenses | $2,188,892 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $717,337 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $195,932 |
| 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 | $22,700 |
| Net Land, buildings, and equipment | $1,068 |
| Investments—publicly traded securities | $519,907 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $268,065 |
| Total assets | $1,725,009 |
| Accounts payable and accrued expenses | $119,582 |
| 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 | $119,582 |
| Net assets without donor restrictions | $1,230,427 |
| Net assets with donor restrictions | $375,000 |
| 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 | $1,725,009 |
Grants Awarded
Over the last fiscal year, National Asian & Pacific Islander American Chamber Of Commerce & Ent has awarded $343,050 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
PACIFIC ISLAND KNOWLEDGE 2 ACTION RESOURCES INC PURPOSE: SPONSORSHIP | $18,000 |
COMMITTEE OF 100 INC PURPOSE: SPONSORSHIP | $25,000 |
ASIAN PACIFIC AMERICAN CHAMBER OF COMMERCE PURPOSE: SPONSORSHIP | $18,000 |
INTERNATIONAL LEADERSHIP FOUNDATION PURPOSE: SPONSORSHIP | $17,500 |
THE CENTER FOR ASIAN PACIFIC AMERICAN WOMEN PURPOSE: SPONSORSHIP | $17,300 |
FILIPINO CHAMBER OF COMMERCE OF THE PACIFIC NORTHWEST PURPOSE: SPONSORSHIP | $17,000 |