Civic Intelligence

Asian Art Foundation

990 • Fiscal year 2021 • EIN 27-3340630

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 06, 2022

Organization Profile
1850 Warburton Ave Suite 106Santa Clara, CA 95050

(408) 992-1380

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

71st percentile

0.16x

Higher debt load relative to assets than 71% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

89th percentile

0.77x

Higher debt load relative to revenue than 89% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

97th percentile

89%

Higher net margin than 97% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

69th percentile

24%

Faster asset growth than 69% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

10th percentile

-34%

Faster revenue growth than 10% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets71st percentile

Assets

Up

$556,452

Up $106,658 (+24%) from 2020

Net Assets

Up

$466,458

Up $103,241 (+28%) from 2020

Liabilities

Up

$89,994

Up $3,417 (+3.9%) from 2020

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin97th percentile

Revenue

Down

$116,410

Down $60,683 (-34%) from 2020

Expenses

Down

$13,169

Down $16,197 (-55%) from 2020

Net Income

Down

$103,241

Down $44,486 (-30%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth69th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0Assets 2013: $76,694Liabilities 2013: $26,694Net Assets 2013: $50,0002013Assets 2014: $94,317Liabilities 2014: $26,695Net Assets 2014: $67,6222014Assets 2015: $99,764Liabilities 2015: $30,477Net Assets 2015: $69,2872015Assets 2016: $119,862Liabilities 2016: $30,478Net Assets 2016: $89,3842016Assets 2017: $115,149Liabilities 2017: $30,478Net Assets 2017: $84,6712017Assets 2018: $188,756Liabilities 2018: $30,478Net Assets 2018: $158,2782018Assets 2019: $297,898Liabilities 2019: $82,408Net Assets 2019: $215,4902019Assets 2020: $449,794Liabilities 2020: $86,577Net Assets 2020: $363,2172020Assets 2021: $556,452Liabilities 2021: $89,994Net Assets 2021: $466,4582021Assets 2022: $679,343Liabilities 2022: $0Net Assets 2022: $679,3432022Assets 2024: $979,204Liabilities 2024: $0Net Assets 2024: $979,2042024

Highlighted filing

2021

Assets$556,452
Liabilities$89,994
Net Assets$466,458
Open 2021 Filing

Operations Trend

Revenue Growth10th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$300K$200K$100K$0-$100KRevenue 2013: $14,304Expenses 2013: $19,154Net Income 2013: -$4,8502013Revenue 2014: $18,911Expenses 2014: $1,289Net Income 2014: $17,6222014Revenue 2015: $14,673Expenses 2015: $13,008Net Income 2015: $1,6652015Revenue 2016: $30,919Expenses 2016: $10,822Net Income 2016: $20,0972016Revenue 2017: $55,368Expenses 2017: $60,081Net Income 2017: -$4,7132017Revenue 2018: $74,110Expenses 2018: $503Net Income 2018: $73,6072018Revenue 2019: $162,236Expenses 2019: $105,024Net Income 2019: $57,2122019Revenue 2020: $177,093Expenses 2020: $29,366Net Income 2020: $147,7272020Revenue 2021: $116,410Expenses 2021: $13,169Net Income 2021: $103,2412021Revenue 2022: $331,072Expenses 2022: $118,957Net Income 2022: $212,1152022Revenue 2024: $116,190Expenses 2024: $164,723Net Income 2024: -$48,5332024

Highlighted filing

2021

Revenue$116,410
Expenses$13,169
Net Income$103,241
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 6, 2022
Return Version
2021v4.0
Gross Receipts
$116,410
Mission and Program Overview

Mission

To introduce classic chinese culture to the residents of san francisco bay area; to promote ancient asian arts to san francisco bay area.

To introduce classic chinese culture to the residents of san francisco bay area; to promote anicent asian arts to san francisco bay area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$363,217$466,458▲ $103,241
Cash and Non-Interest-Bearing Accounts$236,497$329,313▲ $92,816
Other Notes and Loans Receivable, Net$202,047$203,047▲ $1,000
Accounts Receivable$11,250$24,092▲ $12,842
Total Assets$449,794$556,452▲ $106,658
Liabilities
Accounts Payable and Accrued Expenses$54,425$57,842▲ $3,417
Other Liabilities$32,152$32,152→ $0
Total Liabilities$86,577$89,994▲ $3,417
Net Assets / Fund Balance
Total Net Assets Fund Balance$363,217$466,458▲ $103,241
Total Liabilities and Net Assets / Fund Balance$449,794$556,452▲ $106,658
Compensation and Service Providers
Top Officer Pay52nd percentile

Board Members and Trustees

NameTitle
Feng WangPresident
Kevin GaoDirector
Cathy WeiSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$116,410
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$116,410
Change in Net Assets
$103,241
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,169
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal-$6,750-$6,750
Insurance-$500-$500
Other Expenses$5,842$27-$27
Total Functional Expenses$5,842$7,327$0$13,169
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
Other Liabilities$32,152
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The return is prepared by independent accountant and it is reviewed by members of board of directors for its accruancy.”

Form 990, Page 6, Part VI, Line 12C

“Board of members will review the compliance of "conflict of interest " twice a year.”

Form 990, Page 6, Part VI, Line 19

“Documents is availalbe to public upon request.”

Filing and Contact Details

Filer

Filer Name
Asian Art Foundation
EIN
27-3340630
Address
1850 WARBURTON AVE SUITE 106, SANTA CLARA, CA 95050

Signing Officer

Name
Feng Wang
Title
President
Signed
2022-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Feng Wang
Formed
2010
Legal Domicile
CA
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Fan Wen CPA
Address
1611 BOREL PLACE SUITE NO3, SAN MATEO, CA 94403-3504
Preparer
Fan Wen
Phone
6504839747
Raw XML Appendix283 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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ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$556,452
Liabilities
$89,994
Net assets
$466,458
Revenue
$116,410
Expenses
$13,169
Net income
$103,241
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.79$0.00$9.79$1.16$1.65$0.49
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.79$0.00$6.79$3.31$1.19$2.12
2021Detailed filing. Detailed filing data is available for this year.$5.56$0.90$4.66$1.16$0.13$1.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.50$0.87$3.63$1.77$0.29$1.48
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.98$0.82$2.15$1.62$1.05$0.57
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.89$0.30$1.58$0.74$0.01$0.74
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.15$0.30$0.85$0.55$0.60$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.20$0.30$0.89$0.31$0.11$0.20
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.30$0.69$0.15$0.13$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.94$0.27$0.68$0.19$0.01$0.18
2013Detailed filing. Detailed filing data is available for this year.$0.77$0.27$0.50$0.14$0.19$0.05