Civic Intelligence

Asian Community Development Corporation

EIN 04-2988263 • 501(c)3 • Boston, MA

Profile

The asian community development corporation (acdc) works in underserved and immigrant asian american communities in the greater boston region to create and preserve affordable, sustainable, and healthy neighborhoods. We achieve this by building affordable homes and vibrant spaces, empowering families with asset-building tools, and strengthening communities through resident and youth leadership.

38 Oak StreetBoston, MA 02111

www.asiancdc.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

69th percentile

0.43x

Higher debt load relative to assets than 69% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

92nd percentile

3.95x

Higher debt load relative to revenue than 92% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

77th percentile

22%

Higher net margin than 77% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

26th percentile

$167,451

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

76th percentile

16%

Faster asset growth than 76% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

23rd percentile

-5.6%

Faster revenue growth than 23% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$43,595,108

Up $5,910,474 (+16%) from 2023

Liabilities

Up

$18,889,348

Up $5,305,348 (+39%) from 2023

Net Assets

Up

$24,705,760

Up $605,126 (+2.5%) from 2023

Revenue

Down

$4,785,869

Down $282,636 (-5.6%) from 2023

Expenses

Down

$3,733,823

Down $220,928 (-5.6%) from 2023

Net Income

Down

$1,052,046

Down $61,708 (-5.5%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2010: $18,498,373Liabilities 2010: $5,414,379Net Assets 2010: $13,083,9942010Assets 2011: $20,981,061Liabilities 2011: $6,521,339Net Assets 2011: $14,459,7222011Assets 2012: $30,085,184Liabilities 2012: $8,189,191Net Assets 2012: $21,895,9932012Assets 2013: $29,745,420Liabilities 2013: $8,358,362Net Assets 2013: $21,387,0582013Assets 2014: $23,865,033Liabilities 2014: $7,398,630Net Assets 2014: $16,466,4032014Assets 2015: $26,978,474Liabilities 2015: $10,018,986Net Assets 2015: $16,959,4882015Assets 2016: $14,468,595Liabilities 2016: $4,583,029Net Assets 2016: $9,885,5662016Assets 2017: $7,399,914Liabilities 2017: $83,669Net Assets 2017: $7,316,2452017Assets 2018: $7,210,029Liabilities 2018: $204,244Net Assets 2018: $7,005,7852018Assets 2019: $23,290,472Liabilities 2019: $3,279,210Net Assets 2019: $20,011,2622019Assets 2020: $24,662,934Liabilities 2020: $3,679,007Net Assets 2020: $20,983,9272020Assets 2021: $26,261,903Liabilities 2021: $3,549,841Net Assets 2021: $22,712,0622021Assets 2022: $35,500,054Liabilities 2022: $12,634,747Net Assets 2022: $22,865,3072022Assets 2023: $37,684,634Liabilities 2023: $13,584,000Net Assets 2023: $24,100,6342023Assets 2024: $43,595,108Liabilities 2024: $18,889,348Net Assets 2024: $24,705,7602024

Highlighted filing

2024

Assets$43,595,108
Liabilities$18,889,348
Net Assets$24,705,760

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$10M$0-$10MExpenses 2010: $849,7262010Expenses 2011: $595,0602011Expenses 2012: $1,601,3222012Revenue 2013: $1,028,246Expenses 2013: $1,547,181Net Income 2013: -$518,9352013Revenue 2014: $801,489Expenses 2014: $788,966Net Income 2014: $12,5232014Revenue 2015: $1,432,003Expenses 2015: $938,918Net Income 2015: $493,0852015Revenue 2016: $7,351,192Expenses 2016: $14,829,602Net Income 2016: -$7,478,4102016Revenue 2017: $6,390,983Expenses 2017: $8,960,304Net Income 2017: -$2,569,3212017Revenue 2018: $1,291,737Expenses 2018: $1,587,324Net Income 2018: -$295,5872018Revenue 2019: $2,516,433Expenses 2019: $1,919,499Net Income 2019: $596,9342019Revenue 2020: $3,168,257Expenses 2020: $2,299,206Net Income 2020: $869,0512020Revenue 2021: $3,906,514Expenses 2021: $2,281,960Net Income 2021: $1,624,5542021Revenue 2022: $3,536,365Expenses 2022: $3,083,157Net Income 2022: $453,2082022Revenue 2023: $5,068,505Expenses 2023: $3,954,751Net Income 2023: $1,113,7542023Revenue 2024: $4,785,869Expenses 2024: $3,733,823Net Income 2024: $1,052,0462024

Highlighted filing

2024

Revenue$4,785,869
Expenses$3,733,823
Net Income$1,052,046

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$43.6$18.9$24.7$4.79$3.73$1.05
2023Detailed filing. Detailed filing data is available for this year.$37.7$13.6$24.1$5.07$3.95$1.11
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.5$12.6$22.9$3.54$3.08$0.45
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.3$3.55$22.7$3.91$2.28$1.62
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.7$3.68$21.0$3.17$2.30$0.87
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.3$3.28$20.0$2.52$1.92$0.60
2018Detailed filing. Detailed filing data is available for this year.$7.21$0.20$7.01$1.29$1.59$0.30
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.40$0.08$7.32$6.39$8.96$2.57
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.5$4.58$9.89$7.35$14.8$7.48
2015Detailed filing. Detailed filing data is available for this year.$27.0$10.0$17.0$1.43$0.94$0.49
2014Detailed filing. Detailed filing data is available for this year.$23.9$7.40$16.5$0.80$0.79$0.01
2013Detailed filing. Detailed filing data is available for this year.$29.7$8.36$21.4$1.03$1.55$0.52
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.1$8.19$21.9$1.60
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.0$6.52$14.5$0.60
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.5$5.41$13.1$0.85
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 17, 2025
Return Version
2024v5.2
Gross Receipts
$7,063,358
Mission and Program Overview

Mission

To be a community-based organization serving the asian american community of greater boston by providing physical, economic and leadership development.

The asian community development corporation (acdc) works in underserved and immigrant asian american communities in the greater boston region to create and preserve affordable, sustainable, and healthy neighborhoods. We achieve this by building affordable homes and vibrant spaces, empowering families with asset-building tools, and strengthening communities through resident and youth leadership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$12,987,521$14,822,602▲ $1,835,081
Other Notes and Loans Receivable, Net$13,033,811$13,366,638▲ $332,827
Investments in Publicly Traded Securities$3,582,908$3,893,359▲ $310,451
Savings and Temporary Cash Investments$2,025,384$2,601,495▲ $576,111
Intangible Assets$569,708$510,404▼ $59,304
Cash and Non-Interest-Bearing Accounts$1,090,033$478,680▼ $611,353
Accounts Receivable$238,231$394,347▲ $156,116
Prepaid Expenses and Deferred Charges$28,396$35,805▲ $7,409
Total Assets$37,684,634$43,595,108▲ $5,910,474
Other Assets Total$4,128,642$7,491,778▲ $3,363,136
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,595,634$16,308,984▲ $3,713,350
Accounts Payable and Accrued Expenses$320,377$1,959,839▲ $1,639,462
Other Liabilities$612,351$554,316▼ $58,035
Escrow Account Liability$52,335$62,094▲ $9,759
Deferred Revenue$3,303$4,115▲ $812
Total Liabilities$13,584,000$18,889,348▲ $5,305,348
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$23,871,184$24,404,164▲ $532,980
Net Assets With Donor Restrictions$229,450$301,596▲ $72,146
Total Net Assets Fund Balance$24,100,634$24,705,760▲ $605,126
Total Liabilities and Net Assets / Fund Balance$37,684,634$43,595,108▲ $5,910,474

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,162,766$1,139,918$9,302,684
Land$6,601,889-$6,601,889
Other Land Buildings$57,947$13,220$71,167
Equipment$0$2,622$2,622
Other Assets Org$259,803--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Angie LiouExecutive DirectorFT$134,149$38,928$173,077

Board Members and Trustees

NameTitle
Geoffrey WhyChair
Emily YuVice Chair
Daniel ParkDirector
Danielle KimDirector
Jarone LeeDirector
Jeffrey HsiDirector
Karen SoohooDirector
Mai DuDirector
Michael S GrecoDirector
Nick ChauDirector
Paul W LeeDirector
Helen HanDirector (until 09/2024)
Vincent LauAsst. Clerk
Yongmei ChenAsst. Treasurer
Eugene HoTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Icon ArchitectureArchitectural Services141 TREMONT ST 7TH FL, Boston, MA 02111$159,790
Revenue and Support

Revenue Composition

Contributions and Grants
$1,594,514
Program Service Revenue
$2,683,412
Investment Income
$296,979
Other Revenue
$210,964
All Other Contributions
$743,857
Change in Net Assets
$1,052,046
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,448,217
Salaries, Compensation, and Employee Benefits$1,285,606
Total Fundraising Expense$230,843
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$576,513$153,482$167,001$896,996
Occupancy$638,623$10,242$2,201$651,066
Depreciation Depletion$263,313$3,901$3,964$271,178
Current Officers, Directors, Trustees, and Key Employees$174,443$1,762-$176,205
Fees for Services Accounting$3,941$166,553-$170,494
Fees for Service Investment Mgmnt Fees-$154,729-$154,729
Other Employee Benefits$58,673$36,567$20,360$115,600
Fees for Services Other$46,018$42,879-$88,897
Office Expenses$37,102$33,139$14,339$84,580
Payroll Taxes$52,906$13,237$12,595$78,738
Fees for Services Management$47,695--$47,695
Pension Plan Contributions$11,155$4,455$2,457$18,067
Information Technology$11,514$3,003$3,052$17,569
Conferences and Meetings$7,244$3,294$1,711$12,249
All Other Expenses$6,443$5,152-$11,595
Insurance$8,076$2,718-$10,794
Other Expenses$21$9,801$200$10,022
Travel$8,353$946$711$10,010
Fees for Services Legal$9,462--$9,462
Total Functional Expenses$2,744,693$758,287$230,843$3,733,823
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of Use Liability$554,316
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Acdc martensen village holding llc (mvllc) has entered into an agreement for the management of the project with an unrelated third party. The agreement is for an initial term of one year and continues thereafter unless terminated by either party. Additionally, the agreement is terminable by the company for cause with 30 days notice. The agreement provides for a management fee equal to a percentage of gross revenues, as defined, payable monthly. During 2024, management fees of $16,275 were incurred.

Form 990, Part VI, Section A, Line 6

Organization has domestic members.

Form 990, Part VI, Section A, Line 7A

Organization members do elect members for governing board.

Form 990, Part VI, Section A, Line 7B

Major decisions are decided by governing board.

Form 990, Part VI, Section B, Line 11B

Form 990 was reviewed by admin personnel and board finance committee. A copy was provided to the full board prior to filing.

Form 990, Part VI, Section B, Line 12C

Acdc requires all board members to complete a conflict of interest disclosure on an annual basis, any disclosure of potential conflict is discussed by the board.

Form 990, Part VI, Section B, Line 15

Compensation process for top official compensation is determined by the governing board.

Form 990, Part VI, Section C, Line 19

Governing documents disclosure explanation governing docs and returns are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Asian Community Development Corporation
EIN
04-2988263
Phone
6174822380
Address
38 OAK STREET, BOSTON, MA 02111

Signing Officer

Name
Angie Liou
Title
Executive Director
Phone
6174822380
Signed
2025-10-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Geoffrey Why
Formed
1987
Legal Domicile
Ma
Voting Board Members
14
Independent Board Members
14
Employees
15
Volunteers
100

Preparer

Firm
Cohnreznick Advisory LLC
Address
350 GRANITE STREET SUITE 1200, BRAINTREE, MA 02184
Preparer
Jolanta Tuck
Phone
7813803520
Supplemental Narrative

Financial Statement Notes

PART IV, LINE 2B:

The escrow liability amounts of form 990, part x, line 21 consist of tenant security deposits, which are held in a separate bank account. The deposits are refunded to the tenant upon termination of the lease.

PART X, LINE 2:

Income tax returns filed by acdc and its subsidiaries are subject to examination by the internal revenue service for a period of three years. While no income tax returns are currently being examined by the internal revenue service, tax years since 2021 remain open. Management has analyzed the tax positions taken by the organization and has concluded that, as of december 31, 2024, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the consolidated financial statements.

Raw XML AppendixShowing 400 of 825 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0THE ASIAN COMMUNITY DEVELOPMENT CORPORATION (ACDC) WORKS IN UNDERSERVED AND IMMIGRANT ASIAN AMERICAN COMMUNITIES IN THE GREATER BOSTON REGION TO CREATE AND PRESERVE AFFORDABLE, SUSTAINABLE, AND HEALTHY NEIGHBORHOODS. WE ACHIEVE THIS BY BUILDING AFFORDABLE HOMES AND VIBRANT SPACES, EMPOWERING FAMILIES WITH ASSET-BUILDING TOOLS, AND STRENGTHENING COMMUNITIES THROUGH RESIDENT AND YOUTH LEADERSHIP.
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IRS990/Desc0THE ASIAN COMMUNITY DEVELOPMENT CORPORATION (ACDC) WORKS IN UNDERSERVED AND IMMIGRANT ASIAN AMERICAN COMMUNITIES IN THE GREATER BOSTON REGION TO CREATE AND PRESERVE AFFORDABLE, SUSTAINABLE, AND HEALTHY NEIGHBORHOODS. WE ACHIEVE THIS BY BUILDING AFFORDABLE HOMES AND VIBRANT SPACES, EMPOWERING FAMILIES WITH ASSET-BUILDING TOOLS, AND STRENGTHENING COMMUNITIES THROUGH RESIDENT AND YOUTH LEADERSHIP. ASIAN CDC'S WEBSITE PROVIDES A WEALTH OF INFORMATION AND VIDEOS ABOUT ITS PROGRAMS SEE THE 2024 ANNUAL REPORT AT HTTPS://ASIANCDC.ORG/OUR-WORK. THE BUILDING BLOCKS PROGRAM PROVIDES FINANCIAL EMPOWERMENT THROUGH HOME BUYING WORKSHOPS, FINANCIAL LITERACY TRAINING, MATCHED SAVINGS PROGRAM, AND 1 ON 1 HOUSING COUNSELING.
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IRS990/Form990PartVIISectionAGrp/PersonNm9MAI DU
IRS990/Form990PartVIISectionAGrp/PersonNm10MICHAEL S GRECO
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IRS990/Form990PartVIISectionAGrp/PersonNm14YONGMEI CHEN
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR (UNTIL 09/2024)
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13ASST. CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt14ASST. TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt15EXECUTIVE DIRECTOR
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IRS990/MissionDesc0THE ASIAN COMMUNITY DEVELOPMENT CORPORATION (ACDC) WORKS IN UNDERSERVED AND IMMIGRANT ASIAN AMERICAN COMMUNITIES IN THE GREATER BOSTON REGION TO CREATE AND PRESERVE AFFORDABLE, SUSTAINABLE, AND HEALTHY NEIGHBORHOODS. WE ACHIEVE THIS BY BUILDING AFFORDABLE HOMES AND VIBRANT SPACES, EMPOWERING FAMILIES WITH ASSET-BUILDING TOOLS, AND STRENGTHENING COMMUNITIES THROUGH RESIDENT AND YOUTH LEADERSHIP.
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IRS990/OtherExpensesGrp/Desc0BAD DEBT
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IRS990/OtherExpensesGrp/Desc2MEMBERSHIP AND SUBSCRIP
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IRS990/PensionPlanContributionsGrp/FundraisingAmt02457
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt04455
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IRS990/ProgramServiceRevenueGrp/BusinessCd2531110
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IRS990/ProgramServiceRevenueGrp/Desc3SERVICE REVENUE
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1887425
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2415976
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt341693
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1887425
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2415976
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt341693
IRS990/ProgSrvcAccomActy2Grp/Desc0THE HOUSING DEVELOPMENT PROGRAM WORKS TO CREATE AND PRESERVE HIGH QUALITY AFFORDABLE HOUSING TO MEET THE NEEDS OF COMMUNITIES OF LOW-INCOME ASIAN AMERICAN POPULATIONS. ACDC NOW HAS 7 PROPERTIES IN ITS PORTFOLIO THAT INCLUDES 344 AFFORDABLE RENTALS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0692060
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0621774
IRS990/ProgSrvcAccomActy3Grp/Desc0YOUTH PROGRAMS INCLUDE A HIGH SCHOOL LEADERSHIP PROGRAM, ASIAN VOICES OF ORGANIZED YOUTH FOR COMMUNITY EMPOWERMENT (A-VOYCE), TRAINING YOUTH IN COMMUNITY LEADERSHIP AND ORGANIZING IN CHINATOWN AND THE GREATER BOSTON AREA. YOUTH ALSO HAVE OPPORTUNITIES TO LEARN ABOUT CULTURAL IDENTITY, COMMUNITY DEVELOPMENT, AND UNDERTAKE PLACEKEEPING ACTIVITIES, WHICH INCLUDE RESIDENT-LED PUBLIC ART PROJECTS AND CULTURAL EVENTS ADDRESSING COMMUNITY POWER AND IMPACTS OF GENTRIFICATION. ASIAN-AMERICAN IDENTIFYING HIGH SCHOOL YOUTH LEARN ENTREPRENEURSHIP SKILLS AND APPLY THESE SKILLS THROUGH RUNNING THEIR OWN YOUTH-LED BUSINESS PROVIDING WALKING TOURS OF CHINATOWN AND OTHER PROJECTS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0736262
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IRS990/PYOtherRevenueAmt0146140
IRS990/PYProgramServiceRevenueAmt02446222
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IRS990/PYTotalRevenueAmt05068505
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IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02155409

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