Civic Intelligence

Asian Entrepreneurship Foundation

EIN 47-4004081 • 501(c)3 • Boston, MA

Profile

ACE NextGen connects, elevates, and gives back to the Asian American Pacific Islander entrepreneurs community. Organizes conferences, events, workshops, meetings to provide knowledge and wisdom to business owners.

PO Box 51471Boston, MA 02205

www.acenextgen.org

Siviq Scores

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

Liabilities / Assets

89th percentile

0.53x

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

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

84th percentile

0.14x

Higher debt load relative to revenue than 84% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

27th percentile

-14%

Higher net margin than 27% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

62nd percentile

4.8%

Faster asset growth than 62% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2024

Revenue Growth

74th percentile

23%

Faster revenue growth than 74% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2024

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$128,211

Down $51,145 (-29%) from 2023

Liabilities

Up

$67,451

Up $17,115 (+34%) from 2023

Net Assets

Down

$60,760

Down $68,260 (-53%) from 2023

Operations
Liabilities / Revenue84th percentileNet Margin27th percentile

Revenue

Up

$496,151

Up $40,682 (+8.9%) from 2023

Expenses

Up

$564,411

Up $124,757 (+28%) from 2023

Net Income

Down

-$68,260

Down $84,075 (-532%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth62nd percentile

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

$200K$150K$100K$50K$0Assets 2015: $2,672Liabilities 2015: $02015Assets 2016: $2,490Liabilities 2016: $02016Assets 2017: $2,522Liabilities 2017: $02017Assets 2018: $20,168Liabilities 2018: $0Net Assets 2018: $20,1682018Assets 2019: $5,949Liabilities 2019: $9,000Net Assets 2019: $5,9492019Assets 2020: $79,131Liabilities 2020: $3,765Net Assets 2020: $75,3662020Assets 2021: $111,532Liabilities 2021: $30,317Net Assets 2021: $81,2152021Assets 2022: $143,103Liabilities 2022: $29,171Net Assets 2022: $113,9322022Assets 2023: $179,356Liabilities 2023: $50,336Net Assets 2023: $129,0202023Assets 2024: $128,211Liabilities 2024: $67,451Net Assets 2024: $60,7602024

Highlighted filing

2024

Assets$128,211
Liabilities$67,451
Net Assets$60,760
Open 2024 Filing

Operations Trend

Revenue Growth74th percentile

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

$600K$400K$200K$0-$200KRevenue 2015: $7,173Expenses 2015: $4,501Net Income 2015: $2,6722015Revenue 2016: $3,660Expenses 2016: $3,841Net Income 2016: -$1812016Revenue 2017: $18,380Expenses 2017: $18,348Net Income 2017: $322017Revenue 2018: $83,597Expenses 2018: $65,951Net Income 2018: $17,6462018Revenue 2019: $80,836Expenses 2019: $95,885Net Income 2019: -$15,0492019Revenue 2020: $125,968Expenses 2020: $64,525Net Income 2020: $61,4432020Revenue 2021: $264,110Expenses 2021: $254,952Net Income 2021: $9,1582021Revenue 2022: $398,113Expenses 2022: $387,342Net Income 2022: $10,7712022Revenue 2023: $455,469Expenses 2023: $439,654Net Income 2023: $15,8152023Revenue 2024: $496,151Expenses 2024: $564,411Net Income 2024: -$68,2602024

Highlighted filing

2024

Revenue$496,151
Expenses$564,411
Net Income-$68,260
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$128,211
Liabilities
$67,451
Net assets
$60,760
Revenue
$496,151
Expenses
$564,411
Net income
-$68,260
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.28$0.67$0.61$4.96$5.64$0.68
2023Detailed filing. Detailed filing data is available for this year.$1.79$0.50$1.29$4.55$4.40$0.16
2022Detailed filing. Detailed filing data is available for this year.$1.43$0.29$1.14$3.98$3.87$0.11
2021Detailed filing. Detailed filing data is available for this year.$1.12$0.30$0.81$2.64$2.55$0.09
2020Detailed filing. Detailed filing data is available for this year.$0.79$0.04$0.75$1.26$0.65$0.61
2019Summary only. Only limited summary data is available for this year.$0.06$0.09$0.06$0.81$0.96$0.15
2018Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.84$0.66$0.18
2017Summary only. Only limited summary data is available for this year.$0.03$0.00$0.18$0.18$0.00
2016Summary only. Only limited summary data is available for this year.$0.02$0.00$0.04$0.04$0.00
2015Summary only. Only limited summary data is available for this year.$0.03$0.00$0.07$0.05$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 15, 2025
Return Version
2024v5.2
Gross Receipts
$496,151
Mission and Program Overview

Mission

ACE NextGen connects, elevates, and gives back to the Asian American Pacific Islander entrepreneurs community. Organizes conferences, events, workshops, meetings to provide knowledge and wisdom to business owners.

Our mission is to empower asian american and pacific islander (aapi) entrepreneurs and business owners through education, mentorship, and community building.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$136,651$108,154▼ $28,497
Accounts Receivable$25,000$12,000▼ $13,000
Prepaid Expenses and Deferred Charges$17,705$8,057▼ $9,648
Total Assets$179,356$128,211▼ $51,145
Liabilities
Deferred Revenue$25,000$45,000▲ $20,000
Accounts Payable and Accrued Expenses$25,336$22,451▼ $2,885
Total Liabilities$50,336$67,451▲ $17,115
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$129,020$60,760▼ $68,260
Total Net Assets Fund Balance$129,020$60,760▼ $68,260
Total Liabilities and Net Assets / Fund Balance$179,356$128,211▼ $51,145
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Anh Thi PhamDirector of PartnershipFT$105,575$105,575

Board Members and Trustees

NameTitle
Chewy JangDirector
Frances LuongDirector
John VictoriaDirector
Lawrence YehDirector
Melody ChenDirector
Melvin ReyesDirector
Reahman AfsharDirector
Tristan NguyenDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$277,488
Program Service Revenue
$218,663
Investment Income
$0
Other Revenue
$0
All Other Contributions
$246,453
Change in Net Assets
$-68,260
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$450,513
Salaries, Compensation, and Employee Benefits$113,898
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$140,398-$140,398
Current Officers, Directors, Trustees, and Key Employees-$105,575-$105,575
Conferences and Meetings$93,702$9,516-$103,218
Travel$84,289$10,117-$94,406
Fees for Services Other$48,461--$48,461
Fees for Services Accounting-$23,288-$23,288
Information Technology-$21,696-$21,696
Advertising$13,899--$13,899
Payroll Taxes-$8,323-$8,323
Office Expenses-$3,723-$3,723
Insurance-$1,424-$1,424
Total Functional Expenses$240,351$324,060$0$564,411
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Reahman AfsharDirectorManagement ConsultingNo$66,921
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“Form 990 is prepared by outside accountants and reviewed by treasurer and the board of directors before filing with the internal revenue service.”

Conflict of interest policy compliance Part VI line 12C

“Each board of director signs a statement that he or she has received the conflict of interest policy, has read and understands the policy, and agreed to comply with such policy”

CEO executive director top management comp Part VI line 15A

“The board of directors reviews and approves compensation for the top management official and key employees using comparable data from similar organizations. All decisions are made by independent board members and documented in meeting minutes to ensure reasonableness and compliance with irs guidelines.”

Other officer or key employee compensation Part VI line 15B

“The board of directors reviews and approves compensation for the top management official and key employees using comparable data from similar organizations. All decisions are made by independent board members and documented in meeting minutes to ensure reasonableness and compliance with irs guidelines.”

Governing documents etc available to public Part VI line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Asian Entrepreneurship Foundation Inc
EIN
47-4004081
In Care Of
% DAVID LOUIE
Phone
5089675835
Address
PO BOX 51471, BOSTON, MA 02205
Doing Business As
Ace Nextgen

Signing Officer

Name
David Louie
Title
Director and Treasurer
Phone
9178813522
Signed
2025-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
9
Employees
1
Volunteers
30

Preparer

Firm
Tristan CPA
Address
24 School St 2FL, Boston, MA 02108
Preparer
Tristan Nguyen
Phone
6179774807
Raw XML Appendix399 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/ProgSrvcAccomActy2Grp/Desc0DURING THE YEAR, THE ORGANIZATION ADVANCED ITS EXEMPT PURPOSE OF FOSTERING ECONOMIC GROWTH, LEADERSHIP DEVELOPMENT, AND COMMUNITY BUILDING AMONG ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) BUSINESS OWNERS AND ENTREPRENEURS. THE ORGANIZATION ORGANIZED A SERIES OF EDUCATIONAL WORKSHOPS, MASTERMIND GROUPS, AND BUSINESS RETREATS DESIGNED TO PROVIDE PROFESSIONAL DEVELOPMENT, PEER LEARNING, AND MENTORSHIP OPPORTUNITIES. THESE PROGRAMS EQUIPPED PARTICIPANTS WITH PRACTICAL SKILLS IN BUSINESS STRATEGY, FINANCIAL MANAGEMENT, MARKETING, AND LEADERSHIP, WHILE CREATING A SUPPORTIVE NETWORK FOR COLLABORATION AND SHARED GROWTH. THROUGH THESE INITIATIVES, THE ORGANIZATION CONDUCTED 34 WORKSHOPS FOR AAPI ENTREPRENEURS NATIONWIDE, EMPOWERING THEM TO STRENGTHEN THEIR BUSINESSES AND CONTRIBUTE TO THE BROADER ECONOMIC ADVANCEMENT OF THE AAPI COMMUNITY IN ALIGNMENT WITH ITS CHARITABLE AND EDUCATIONAL MISSION.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt056545
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt041656
IRS990/ProgSrvcAccomActy3Grp/Desc0DURING THE YEAR, THE ORGANIZATION ADVANCED ITS EXEMPT PURPOSE OF PROMOTING ECONOMIC DEVELOPMENT AND ENTREPRENEURSHIP BY ORGANIZING EDUCATIONAL AND NETWORKING EVENTS FOR AAPI BUSINESS OWNERS AND ENTREPRENEURS ACROSS MULTIPLE CITY CHAPTERS. THESE EVENTS PROVIDED OPPORTUNITIES FOR PARTICIPANTS TO LEARN FROM INDUSTRY EXPERTS, SHARE BEST PRACTICES, AND BUILD STRATEGIC RELATIONSHIPS TO STRENGTHEN THEIR LOCAL BUSINESS COMMUNITIES. THE ORGANIZATION HOSTED 97 LOCAL CHAPTER EVENTS ATTENDED BY APPROXIMATELY 2,234 ATTENDEES, FEATURING WORKSHOPS ON BUSINESS PLANNING, ACCESS TO CAPITAL, MARKETING, AND LEADERSHIP DEVELOPMENT. THROUGH THESE PROGRAMS, THE ORGANIZATION FOSTERED COLLABORATION AMONG SMALL BUSINESS OWNERS AND ENCOURAGED INNOVATION AND SUSTAINABLE BUSINESS GROWTH CONSISTENT WITH ITS CHARITABLE AND EDUCATIONAL MISSION.
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IRS990/ProgSrvcAccomActy3Grp/RevenueAmt059872
IRS990/ProgSrvcAccomActyOtherGrp/Desc0DURING THE YEAR, THE ORGANIZATION ADVANCED ITS EXEMPT PURPOSE OF PROMOTING ENTREPRENEURSHIP AND ECONOMIC EMPOWERMENT WITHIN THE ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) COMMUNITY BY LAUNCHING AND OPERATING A VIRTUAL BUSINESS ACCELERATOR PROGRAM. THE PROGRAM PROVIDED AAPI BUSINESS OWNERS AND ENTREPRENEURS WITH STRUCTURED MENTORSHIP, EDUCATIONAL WORKSHOPS, AND ACCESS TO CAPITAL RESOURCES DESIGNED TO SUPPORT BUSINESS GROWTH AND SUSTAINABILITY. THE ACCELERATOR ENGAGED 200 PARTICIPANTS NATIONWIDE AND FEATURED TRAINING MODULES ON BUSINESS PLANNING, MARKETING STRATEGY, FINANCIAL MANAGEMENT, AND LEADERSHIP DEVELOPMENT. PARTICIPANTS RECEIVED INDIVIDUALIZED COACHING FROM EXPERIENCED MENTORS AND INDUSTRY PROFESSIONALS. BY PROVIDING THESE CAPACITY-BUILDING RESOURCES, THE ORGANIZATION STRENGTHENED THE AAPI ENTREPRENEURIAL ECOSYSTEM AND FURTHERED ITS CHARITABLE AND EDUCATIONAL MISSION TO EXPAND ECONOMIC OPPORTUNITY AND REPRESENTATION FOR UNDERSERVED BUSINESS OWNERS
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0398113
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0264109
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0125968
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0264109
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0125968
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01739809
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0DIRECTOR
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0MANAGEMENT CONSULTING
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS PREPARED BY OUTSIDE ACCOUNTANTS AND REVIEWED BY TREASURER AND THE BOARD OF DIRECTORS BEFORE FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH BOARD OF DIRECTOR SIGNS A STATEMENT THAT HE OR SHE HAS RECEIVED THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, AND AGREED TO COMPLY WITH SUCH POLICY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS REVIEWS AND APPROVES COMPENSATION FOR THE TOP MANAGEMENT OFFICIAL AND KEY EMPLOYEES USING COMPARABLE DATA FROM SIMILAR ORGANIZATIONS. ALL DECISIONS ARE MADE BY INDEPENDENT BOARD MEMBERS AND DOCUMENTED IN MEETING MINUTES TO ENSURE REASONABLENESS AND COMPLIANCE WITH IRS GUIDELINES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS REVIEWS AND APPROVES COMPENSATION FOR THE TOP MANAGEMENT OFFICIAL AND KEY EMPLOYEES USING COMPARABLE DATA FROM SIMILAR ORGANIZATIONS. ALL DECISIONS ARE MADE BY INDEPENDENT BOARD MEMBERS AND DOCUMENTED IN MEETING MINUTES TO ENSURE REASONABLENESS AND COMPLIANCE WITH IRS GUIDELINES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0240351
IRS990/TotalFunctionalExpensesGrp/TotalAmt0564411
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IRS990/TotalLiabilitiesBOYAmt050336
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt060760
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IRS990/TotalOtherProgSrvcRevenueAmt033053
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IRS990/TotalProgramServiceRevenueAmt0218663
IRS990/TotalReportableCompFromOrgAmt0105575
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IRS990/TravelGrp/TotalAmt094406
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IRS990/UponRequestInd0X
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IRS990/WebsiteAddressTxt0ACENEXTGEN.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID LOUIE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR AND TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09178813522
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ASIAN ENTREPRENEURSHIP FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0ASIA
ReturnHeader/Filer/EIN0474004081
ReturnHeader/Filer/InCareOfNm0% DAVID LOUIE
ReturnHeader/Filer/PhoneNum05089675835
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 51471
ReturnHeader/Filer/USAddress/CityNm0BOSTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002205
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0814162433
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Tristan CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt024 School St 2FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Boston
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002108
ReturnHeader/PreparerPersonGrp/PhoneNum06179774807
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TRISTAN NGUYEN
ReturnHeader/ReturnTs02025-11-17T14:18:28-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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