Civic Intelligence

Asia Institute Inc

EIN 61-1107169 • 501(c)3 • Louisville, KY

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Profile

Asia institute-crane house, is a community resource that promotes understanding of asian cultures and heritage through education,outreach and the arts.

1244 S Third StreetLouisville, KY 40203

www.crane-house.org

Siviq Scores

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

Liabilities / Assets

61st percentile

0.14x

Higher debt load relative to assets than 61% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

88th percentile

1.04x

Higher debt load relative to revenue than 88% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

5th percentile

-62%

Higher net margin than 5% of similar nonprofits.

501(c)3 • $1M-$5M 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

28th percentile

-3.0%

Faster asset growth than 28% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

3rd percentile

-61%

Faster revenue growth than 3% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets61st percentile

Assets

Down

$2,263,327

Down $69,313 (-3.0%) from 2023

Liabilities

Down

$313,177

Down $7,355 (-2.3%) from 2023

Net Assets

Down

$1,950,150

Down $61,958 (-3.1%) from 2023

Operations
Liabilities / Revenue88th percentileNet Margin5th percentile

Revenue

Down

$300,117

Down $475,618 (-61%) from 2023

Expenses

Down

$487,568

Down $220,844 (-31%) from 2023

Net Income

Down

-$187,451

Down $254,774 (-378%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth28th percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $1,440,430Liabilities 2010: $283,552Net Assets 2010: $1,156,8782010Assets 2011: $1,337,101Liabilities 2011: $308,470Net Assets 2011: $1,028,6312011Assets 2012: $1,381,868Liabilities 2012: $293,989Net Assets 2012: $1,087,8792012Assets 2013: $1,580,043Liabilities 2013: $322,372Net Assets 2013: $1,257,6712013Assets 2014: $1,463,166Liabilities 2014: $294,577Net Assets 2014: $1,168,5892014Assets 2015: $1,403,825Liabilities 2015: $307,088Net Assets 2015: $1,096,7372015Assets 2016: $1,365,245Liabilities 2016: $369,441Net Assets 2016: $995,8042016Assets 2017: $1,434,173Liabilities 2017: $397,286Net Assets 2017: $1,036,8872017Assets 2018: $2,081,680Liabilities 2018: $378,757Net Assets 2018: $1,702,9232018Assets 2019: $2,054,517Liabilities 2019: $389,450Net Assets 2019: $1,665,0672019Assets 2020: $1,972,438Liabilities 2020: $429,186Net Assets 2020: $1,543,2522020Assets 2021: $2,171,035Liabilities 2021: $399,167Net Assets 2021: $1,771,8682021Assets 2022: $2,146,325Liabilities 2022: $331,371Net Assets 2022: $1,814,9542022Assets 2023: $2,332,640Liabilities 2023: $320,532Net Assets 2023: $2,012,1082023Assets 2024: $2,263,327Liabilities 2024: $313,177Net Assets 2024: $1,950,1502024

Highlighted filing

2024

Assets$2,263,327
Liabilities$313,177
Net Assets$1,950,150
Open 2024 Filing

Operations Trend

Revenue Growth3rd percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2010: $325,346Expenses 2010: $425,768Net Income 2010: -$100,4222010Expenses 2011: $469,5892011Expenses 2012: $437,9112012Revenue 2013: $482,358Expenses 2013: $413,441Net Income 2013: $68,9172013Revenue 2014: $400,580Expenses 2014: $467,913Net Income 2014: -$67,3332014Revenue 2015: $243,375Expenses 2015: $315,227Net Income 2015: -$71,8522015Revenue 2016: $643,149Expenses 2016: $681,142Net Income 2016: -$37,9932016Revenue 2017: $478,978Expenses 2017: $507,688Net Income 2017: -$28,7102017Revenue 2018: $1,097,720Expenses 2018: $476,649Net Income 2018: $621,0712018Revenue 2019: $355,646Expenses 2019: $388,871Net Income 2019: -$33,2252019Revenue 2020: $211,834Expenses 2020: $304,396Net Income 2020: -$92,5622020Revenue 2021: $137,828Expenses 2021: $189,444Net Income 2021: -$51,6162021Revenue 2022: $540,760Expenses 2022: $321,621Net Income 2022: $219,1392022Revenue 2023: $775,735Expenses 2023: $708,412Net Income 2023: $67,3232023Revenue 2024: $300,117Expenses 2024: $487,568Net Income 2024: -$187,4512024

Highlighted filing

2024

Revenue$300,117
Expenses$487,568
Net Income-$187,451
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,263,327
Liabilities
$313,177
Net assets
$1,950,150
Revenue
$300,117
Expenses
$487,568
Net income
-$187,451
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.26$0.31$1.95$0.30$0.49$0.19
2023Detailed filing. Detailed filing data is available for this year.$2.33$0.32$2.01$0.78$0.71$0.07
2022Detailed filing. Detailed filing data is available for this year.$2.15$0.33$1.81$0.54$0.32$0.22
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.17$0.40$1.77$0.14$0.19$0.05
2020Detailed filing. Detailed filing data is available for this year.$1.97$0.43$1.54$0.21$0.30$0.09
2019Detailed filing. Detailed filing data is available for this year.$2.05$0.39$1.67$0.36$0.39$0.03
2018Detailed filing. Detailed filing data is available for this year.$2.08$0.38$1.70$1.10$0.48$0.62
2017Detailed filing. Detailed filing data is available for this year.$1.43$0.40$1.04$0.48$0.51$0.03
2016Detailed filing. Detailed filing data is available for this year.$1.37$0.37$1.00$0.64$0.68$0.04
2015Summary only. Only limited summary data is available for this year.$1.40$0.31$1.10$0.24$0.32$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.46$0.29$1.17$0.40$0.47$0.07
2013Detailed filing. Detailed filing data is available for this year.$1.58$0.32$1.26$0.48$0.41$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.38$0.29$1.09$0.44
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.34$0.31$1.03$0.47
2010Summary only. Only limited summary data is available for this year.$1.44$0.28$1.16$0.33$0.43$0.10
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 7, 2025
Return Version
2023v6.0
Gross Receipts
$483,074
Mission and Program Overview

Mission

Asia institute, crane house, is a community resource that promotes understanding of asian cultures.

Asia institute-crane house, is a community resource that promotes understanding of asian cultures and heritage through education,outreach and the arts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,090,328$1,399,770▲ $309,442
Land, Buildings, and Equipment, Net$610,844$581,108▼ $29,736
Cash and Non-Interest-Bearing Accounts$285,084$65,934▼ $219,150
Pledges and Grants Receivable$107,509$18,532▼ $88,977
Prepaid Expenses and Deferred Charges$8,175$208▼ $7,967
Total Assets$2,332,640$2,263,327▼ $69,313
Other Assets Total$230,700$197,775▼ $32,925
Liabilities
Mortgage Notes Payable Secured by Investment Property$305,918$294,368▼ $11,550
Accounts Payable and Accrued Expenses$14,614$18,287▲ $3,673
Deferred Revenue$0$522▲ $522
Total Liabilities$320,532$313,177▼ $7,355
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$952,452$1,474,489▲ $522,037
Net Assets With Donor Restrictions$1,059,656$475,661▼ $583,995
Total Net Assets Fund Balance$2,012,108$1,950,150▼ $61,958
Total Liabilities and Net Assets / Fund Balance$2,332,640$2,263,327▼ $69,313

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$377,208$232,849$610,057
Land$178,750-$178,750
Equipment$25,150$35,464$60,614
Other Assets Org$197,775--
Other Securities$1,399,770--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$1,090,328$255,177▲ $169,494$115,229$1,399,770
2022$1,008,020-▲ $88,442$7,505$1,090,328
2021$1,105,744$119,204▼ $216,928-$1,008,020
2020$916,325-▲ $189,419-$1,105,744
2019$970,662-▼ $54,337-$916,325
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joel BunoExecutive DirectorFT$78,889$2,400$81,289

Board Members and Trustees

NameTitle
Anne Marie V GrisantiPresident
Ralph MarshallVice President
Andrew ZhaoDirector
Belinda Choo MuenchDirector
J Brittany Cross CarlsonDirector
Sarah Trainor GravesDirector
Saravanan MuruganDirector
Tianling LiDirector
Vahid MockonDirector
William SutterDirector
Brian LeeSecretary
Rijan ManandharTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$169,112
Program Service Revenue
$27,433
Investment Income
$34,306
Other Revenue
$69,266
All Other Contributions
$143,497
Change in Net Assets
$-187,451

Audited Revenue Reconciliation

Revenue per Audited Statements
$289,436
Revenue Not Reported on Financial Statements
$10,681
Revenue Not Reported on Form 990
$125,491
Other Revenue Adjustments
$10,681
Total Revenue per Audited Statements
$414,927
Total Revenue per Form 990
$300,117
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$255,439
Salaries, Compensation, and Employee Benefits$229,694
Total Fundraising Expense$91,414
Grants and Similar Amounts Paid$2,435
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$53,103$31,423$39,712$124,238
Current Officers, Directors, Trustees, and Key Employees$23,886$32,421$24,594$80,901
Depreciation Depletion$12,105$10,259$7,372$29,736
Occupancy$20,066--$20,066
Payroll Taxes$5,366$7,282$5,527$18,175
Information Technology$6,953$5,941$4,232$17,126
Travel$14,377--$14,377
Insurance$5,478$4,680$3,333$13,491
Interest$5,202$4,444$3,166$12,812
Fees for Services Accounting-$12,062-$12,062
Office Expenses$4,317$6,903$347$11,567
Other Employee Benefits$1,884$2,556$1,940$6,380
Other Expenses$276$3,902-$4,178
Grants to Domestic Orgs$2,435--$2,435
Advertising--$1,191$1,191
Fees for Services Legal-$123-$123
Total Functional Expenses$274,158$121,996$91,414$487,568

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$487,568
Expenses per Audited Statements$476,885
Total Expenses per Audited Statements$476,885
Expenses Not Reported on Financial Statements$10,683
Other Expense Adjustments$10,683
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$57,693
Fundraising Gross Income$56,674
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
SPRING GALA: NEW YEAR$82,289$56,674$16,770$39,904
Total Events$82,289$56,674$57,693$-1,019
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Treasurer reviews form 990 before being filed”

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

“Annually a questionnaire is prepared by all board members and reviewed by the board of directors”

Form 990, Part VI, Section B, Line 15

“Executive committee approves all personnel decisions including compensation of officers and employees”

Form 990, Part VI, Section C, Line 18

“The organization makes it governing documents, conflict of interest policy and financials available upon request”

Form 990, Part VI, Section C, Line 19

“The board of directors assumes responsibility for oversight of the review of the financial statements and selection of the independent accountant; and no processes have changed from prior year”

Filing and Contact Details

Filer

Filer Name
Asia Institute Inc
EIN
61-1107169
Phone
5029053883
Address
1244 S THIRD STREET, LOUISVILLE, KY 40203

Signing Officer

Name
Joel Buno
Title
Executive Director
Phone
5029053883
Signed
2025-04-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joel Buno
Formed
1986
Legal Domicile
Ky
Voting Board Members
12
Independent Board Members
12
Employees
5
Volunteers
37

Preparer

Firm
Blue & Co LLC
Address
720 EAST PETE ROSE WAY STE 100, CINCINNATI, OH 45202
Preparer
Cory Schunemann CPA
Phone
5132414507
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“The aich peer to peer support storefront health initiative ceased during the year.”

FORM 990, PART XI, LINE 9:

“ROUNDING 2.”

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The organization is organized as a not-for-profit corporation under section 501(c)(3) of the united states internal revenue code. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the organization and recognize a tax liability if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the organization, and has concluded that as of june 30, 2024, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying financial statements. As such, the organization is generally exempt from income taxes. However, the organization is required to file federal form 990 return of organization exempt from income tax, which is an informational return only. The organization is subject to routine audits by taxing jurisdictions. Except for the year ended june 30, 2021, there are no audits for any tax periods in progress.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Special event expense 10,683. Rounding -2.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Special event expense 10,683.”

Raw XML AppendixShowing 400 of 555 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/ActivityOrMissionDesc0ASIA INSTITUTE-CRANE HOUSE, IS A COMMUNITY RESOURCE THAT PROMOTES UNDERSTANDING OF ASIAN CULTURES AND HERITAGE THROUGH EDUCATION,OUTREACH AND THE ARTS.
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IRS990/Desc0LANGUAGE PROGRAMS- AICH PRESENTS PROGRAMS TO TEACH AMERICANS ASIAN LANGUAGES AND TO TEACH ASIANS TO SPEAK ENGLISH. AICH ESTABLISHED THE TEACH IN ASIA (TIA) PROGRAM IN 1988 TO SEND QUALIFIED AMERICAN TEACHERS TO LANGUAGE PROGRAMS- AICH PRESENTS PROGRAMS TO TEACH AMERICANS ASIAN LANGUAGES AND TO TEACH ASIANS TO SPEAK ENGLISH. AICH ESTABLISHED THE TEACH IN ASIA (TIA) PROGRAM IN 1988 TO SEND QUALIFIED AMERICAN TEACHERS TO ASIA TO CONDUCT THREE-WEEK SUMMER TRAINING PROGRAMS IN CONVERSATIONAL ENGLISH AND TO INTRODUCE AMERICAN CULTURE TO TEACHERS IN ASIA. OVER THE YEARS AICH HAS SENT OVER 500 TEACHERS TO ASIA WITH THIS PROGRAM. WITH RENEWED FUNDING FROM THE FREEMAN FOUNDATION, THE TIA PROGRAM RENEWED IN SUMMER 2023 IN TAINAN AND KAOHSIUNG, TAIWAN. 2024 CAMPS ARE PLANNED IN TAICHUNG AND MAOLI COUNTY, TAIWAN.AICH CONTINUES TO FILL THE GAP WHERE OUR LOCAL EDUCATIONAL SYSTEMS LACK OFFERINGS OF ASIAN LANGUAGES. AICH, IN CONJUNCTION WITH THE UNIVERSITY OF LOUISVILLE, HAS ESTABLISHED A CHINESE AND JAPANESE LANGUAGE CORNER. OUR LANGUAGE CORNER SUCCESSFULLY LAUNCHED IN SEPTEMBER OF 2022. LANGUAGE CORNER IS DESIGNED TO CATER TO ADULT LANGUAGE LEARNERS AND LOCAL SCHOOL STUDENTS WHO ARE INTERESTED IN LANGUAGE LEARNING. THE FIRST STAGE FOCUSES ON CHINESE. THE PROGRAM INCLUDES SPECIAL EVENTS (SUCH AS MOON CAKE MAKING, MAHJONG LESSONS AND CHINESE CULTURAL DANCE) AND WEEKLY CHINESE CLUBS - AFTER SCHOOL PROGRAMS AT VARIOUS LOCAL ELEMENTARY AND MIDDLE SCHOOLS. OUR NEXT PHASE WILL CONTINUE WITH CHINESE CONVERSATION ENGAGEMENT, BUT ALSO WILL INCORPORATE JAPANESE LANGUAGE AND SPECIAL EVENTS. OUR LANGUAGE CORNERS HAVE IMPACTED OVER 330 PARTICIPANTS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/MissionDesc0ASIA INSTITUTE-CRANE HOUSE, IS A COMMUNITY RESOURCE THAT PROMOTES UNDERSTANDING OF ASIAN CULTURES AND HERITAGE THROUGH EDUCATION,OUTREACH AND THE ARTS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0SPECIAL COMMUNITY EVENTS - AICH IS THE PREMIER CONVENOR OF THE ASIAN COMMUNITIES AND PUTS ON CITYWIDE EVENTS THROUGHOUT THE YEAR. FOLLOWING ARE EXAMPLES OF OUR BIG ENGAGEMENT EVENTS THROUGHOUT THE YEAR. AICH'S LUNAR NEW YEAR, YEAR OF THE DRAGON, / SPRING FESTIVAL AUCTION AND DINNER IS ONE OF OUR BIGGEST ENGAGEMENTS AND FUNDRAISERS THROUGHOUT THE WHOLE YEAR. THE EVENT FEATURES TRADITIONAL ASIAN CULTURAL OUTFITS, LOCAL ASIAN ENTERTAINMENT, AND WONDERFUL ASIAN CULINARY FLAVORS. THE SUPPORT OF THE COMMUNITY AND CORPORATE SUPPORT, OUR EVENT IS ATTENDED BY OVER 200 ATTENDEES AND SUPPORTERS. ASIAN NIGHT MARKET - SEPTEMBER 14, 2024 AICH HOSTED OUR VERY SUCCESSFUL ASIAN NIGHT MARKET AT FOURTH STREET LIVE! FSL! RETAIL VENDORS, LOCAL ASIAN ENTERTAINMENT, LOCAL ASIAN COMMUNITY SOCIAL GROUPS AND CORPORATE ERGS SHOWCASED TO THE COMMUNITY A TYPICAL ASIAN NIGHT MARKET SCENE. OUR MOST RECENT EVENT FILLED FSL! TO CAPACITY (OVER 3,500 ATTENDEES) AND SUCCESSFULLY GAVE THE FEEL OF ASIA USING LOCAL VENDORS AND TALENT. OUR MAYOR HAS ASKED AICH TO MAKE THIS AN ANNUAL EVENT.
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