Civic Intelligence

The Asian American Foundation

EIN 85-2050585 • 501(c)3 • Washington, DC

Profile

The asian american foundation (taaf) serves the aapi community in their pursuit of belonging and prosperity that is free from discrimination, slander and violence, in furtherance of its charitable mission taaf conducts.

PO Box 21749Washington, DC 20009

www.taaf.org

Siviq Scores

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

Liabilities / Assets

28th percentile

0.07x

Higher debt load relative to assets than 28% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

46th percentile

0.29x

Higher debt load relative to revenue than 46% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

6th percentile

-38%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

65th percentile

$482,793

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2022

Asset Growth

16th percentile

-3.3%

Faster asset growth than 16% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

65th percentile

14%

Faster revenue growth than 65% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Down

$77,888,045

Down $2,637,767 (-3.3%) from 2023

Liabilities

Up

$5,474,327

Up $4,289,290 (+362%) from 2023

Net Assets

Down

$72,413,718

Down $6,927,057 (-8.7%) from 2023

Revenue

Up

$18,869,269

Up $2,273,947 (+14%) from 2023

Expenses

Up

$26,082,793

Up $3,172,959 (+14%) from 2023

Net Income

Down

-$7,213,524

Down $899,012 (-14%) from 2023

Trend Graphs

Balance Sheet Trend

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

$100M$50M$0Assets 2020: $3,293,185Liabilities 2020: $548,910Net Assets 2020: $2,803,1532020Assets 2021: $89,049,217Liabilities 2021: $6,039,860Net Assets 2021: $83,009,3572021Assets 2022: $88,971,313Liabilities 2022: $3,316,026Net Assets 2022: $85,655,2872022Assets 2023: $80,525,812Liabilities 2023: $1,185,037Net Assets 2023: $79,340,7752023Assets 2024: $77,888,045Liabilities 2024: $5,474,327Net Assets 2024: $72,413,7182024

Highlighted filing

2024

Assets$77,888,045
Liabilities$5,474,327
Net Assets$72,413,718

Operations Trend

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

$150M$100M$50M$0-$50MRevenue 2020: $3,765,990Expenses 2020: $962,837Net Income 2020: $2,803,1532020Revenue 2021: $100,728,075Expenses 2021: $20,454,010Net Income 2021: $80,274,0652021Revenue 2022: $16,757,627Expenses 2022: $14,111,697Net Income 2022: $2,645,9302022Revenue 2023: $16,595,322Expenses 2023: $22,909,834Net Income 2023: -$6,314,5122023Revenue 2024: $18,869,269Expenses 2024: $26,082,793Net Income 2024: -$7,213,5242024

Highlighted filing

2024

Revenue$18,869,269
Expenses$26,082,793
Net Income-$7,213,524

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.2
Gross Receipts
$18,869,269
Mission and Program Overview

Mission

The asian american foundation (taaf) serves the aapi community in their pursuit of belonging and prosperity that is free from discrimination, slander and violence, in furtherance of its charitable mission taaf conducts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$44,853,905$56,134,221▲ $11,280,316
Pledges and Grants Receivable$34,906,276$19,862,833▼ $15,043,443
Prepaid Expenses and Deferred Charges$721,100$935,851▲ $214,751
Land, Buildings, and Equipment, Net$0$134,244▲ $134,244
Accounts Receivable$1,786$4,575▲ $2,789
Total Assets$80,525,812$77,888,045▼ $2,637,767
Other Assets Total$42,745$816,321▲ $773,576
Liabilities
Grants Payable$535,000$3,397,000▲ $2,862,000
Accounts Payable and Accrued Expenses$650,037$1,273,550▲ $623,513
Other Liabilities$0$803,777▲ $803,777
Total Liabilities$1,185,037$5,474,327▲ $4,289,290
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$78,205,769$70,696,832▼ $7,508,937
Net Assets With Donor Restrictions$1,135,006$1,716,886▲ $581,880
Total Net Assets Fund Balance$79,340,775$72,413,718▼ $6,927,057
Total Liabilities and Net Assets / Fund Balance$80,525,812$77,888,045▼ $2,637,767

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$120,621$34,959-
Equipment$5,316$483-
Leasehold Improvements$8,307$628-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Prisca BaeChief Partnerships OfficerFT$316,026$24,470$340,496
Georgette BhathenaChief Program OfficerFT$289,886$23,270$313,156
Isabel KimChief Financial OfficerFT$276,087$28,519$304,606
Rohit PaulChief People and Culture OfficerFT$248,492$29,647$278,139
Joy MohHead of Communications and MarketingFT$232,910$9,322$242,232
Norman ChenCEO and DirectorFT$89,903-$89,903

Board Members and Trustees

NameTitle
Joseph BaeCo-chairman
Peng ZhaoCo-chairman
Geraldine Acuna-sunshineDirector
Joe TsaiDirector
Li LuDirector
Rushika FernandopulleDirector
Shamina SinghDirector
Sheila MarceloDirector
Jerry YangDirector/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
The Dataface LLCGeneral Consulting85 GLORIA CIRCLE, Menlo Park, CA 94025$271,500
Studio Productions Nyc LLCProduction Consultant1629 K ST NW SUITE 300, Washington, DC 20006$250,000
Maria Choi Dba Raise For Good LLCProduction Consultant6 EAST 32ND STREET 3RD FLOOR, New York, NY 10016$232,500
-Marketing Consultant660 12TH AVENUE, New York, NY 10019$202,630
-Fundraising Consulting2261 MARKET STREET 4260, San Francisco, CA 94114$200,000
Revenue and Support

Revenue Composition

Contributions and Grants
$16,890,275
Program Service Revenue
$0
Investment Income
$1,978,994
Other Revenue
$0
All Other Contributions
$16,890,275
Change in Net Assets
$-7,213,524

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,869,269
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,495
Total Revenue per Audited Statements
$18,870,764
Total Revenue per Form 990
$18,869,269
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,208,473
Grants and Similar Amounts Paid$9,117,000
Salaries, Compensation, and Employee Benefits$6,757,320
Total Fundraising Expense$165,552
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$9,117,000--$9,117,000
Other Salaries and Wages$3,343,575$973,756$39,932$4,357,263
Fees for Services Management$2,395,615$1,049,951-$3,445,566
Advertising$1,620,118--$1,620,118
Current Officers, Directors, Trustees, and Key Employees$479,949$681,664$94,114$1,255,727
Other Employee Benefits$477,363$226,719$13,288$717,370
Travel$315,133$115,225$5,206$435,564
Payroll Taxes$288,444$129,949$8,567$426,960
Information Technology$84,582$209,850$4,445$298,877
Insurance-$110,558-$110,558
Fees for Services Accounting-$85,963-$85,963
Other Expenses$37,969$45,639-$83,608
Occupancy-$50,305-$50,305
Office Expenses$9,305$24,682-$33,987
Fees for Services Legal-$25,176-$25,176
Depreciation Depletion$22,584$2,058-$24,642
Conferences and Meetings$8,505$1,379-$9,884
Total Functional Expenses$21,991,115$3,926,126$165,552$26,082,793

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$26,082,793
Total Expenses per Audited Statements$26,082,793
Total Expenses per Form 990$26,082,793
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Asian Health ServicesOakland, CA501(c)(3)Anti - Hate Initiative$500,000
Chinese American Service LeagueChicago, IL501(c)(3)Anti - Hate Initiative$400,000
Community Youth Center of San FranciscoSan Francisco, CA501(c)(3)Anti - Hate Initiative$400,000
Sikh CoalitionNew York, NY501(c)(3)Anti - Hate Initiative$360,000
Asian American FuturesIrvine, CA501(c)(6)Education Initiative$300,000
New York UniversityNew York, NY501(c)(3)Education Initiative$300,000
Asian American Journalists AssociationMartinez, CA501(c)(3)Narrative Change Initiative$250,000
Asian American Resource WorkshopDorchester, MA501(c)(3)Anti - Hate Initiative$250,000
Center for Asian American MediaSan Francisco, CA501(c)(3)Narrative Change Initiative$250,000
Cisc-chinese Information & Service CenterSeattle, WA501(c)(3)Education Initiative$250,000
Rideback Rise IncLos Angeles, CA501(c)(3)Narrative Change Initiative$250,000
Sundance InstitutePark City, UT-Narrative Change Initiative$207,000
Chinatown Service CenterLos Angeles, CA501(c)(3)Anti - Hate Initiative$200,000
Southeast Asia Resource Action CenterWashington, DC501(c)(3)Anti - Hate Initiative$200,000
Aapi Montclair IncMontclair, NJ501(c)(3)Anti - Hate Initiative$150,000
Asian Pacific Community Fund of Southern CaliforniaLos Angeles, CA501(c)(3)Education Initiative$150,000
Florida Immigrant Coalition IncMiami, FL501(c)(3)Anti - Hate Initiative$150,000
Southeast Asian Maa Coalition IncPhiladelphia, PA501(c)(3)Anti - Hate Initiative$150,000
TEXAS MUSLIM WOMEN'S FOUNDATION INCPlano, TX501(c)(3)Anti - Hate Initiative$150,000
TeachaapiSanta Monica, CA-Education Initiative$150,000
The Asian American Education ProjectLos Angeles, CA501(c)(3)Anti - Hate Initiative$150,000
Asian American Voices for Education IncAtlanta, GA501(c)(3)Education Initiative$135,000
Daya IncHouston, TX501(c)(6)Anti - Hate Initiative$134,000
National Asian Pacific American Bar AssociationWashington, DC501(c)(3)Anti - Hate Initiative$125,000
GofundmeorgWest Hollywood, CA501(c)(3)Anti - Hate Initiative$120,000
Act to ChangeFalls Church, VA501(c)(3)Anti - Hate Initiative$100,000
AdhikaarWoodside, NY501(c)(3)Anti - Hate Initiative$100,000
Alliance for Asian American Justice IncDallas, TX501(c)(3)Anti - Hate Initiative$100,000
Asian American Coalition for Children and Families IncNew York, NY501(c)(3)Anti - Hate Initiative$100,000
Asian American FederationOld Bridge, NJ501(c)(3)Anti - Hate Initiative$100,000
Asian Americans Advancing JusticeWashington, DC501(c)(3)Anti - Hate Initiative$100,000
Asian Americans Advancing Justice Southern CaliforniaLos Angeles, CA501(c)(3)Anti - Hate Initiative$100,000
Asian Pacific American Legal Resource CenterWashington, DC501(c)(3)Anti - Hate Initiative$100,000
ChhayaJackson Heights, NY501(c)(3)Anti - Hate Initiative$100,000
Chinese American Planning CouncilNew York, NY501(c)(3)Anti - Hate Initiative$100,000
Coalition of Asian Pacific in Entertainment Foundation IncLos Angeles, CA501(c)(3)Narrative Change Initiative$100,000
Homecrest Community Services IncBrooklyn, NY501(c)(3)Anti - Hate Initiative$100,000
Korean Community Services of Metropolitan New York IncFlushing, NY501(c)(3)Anti - Hate Initiative$100,000
Mekong NycBronx, NY501(c)(3)Anti - Hate Initiative$100,000
Minkwon Center for Community Action IncFlushing, NY501(c)(3)Anti - Hate Initiative$100,000
NATIONAL ASIAN PACIFIC AMERICAN WOMEN'S FORUMChicago, IL501(c)(3)Anti - Hate Initiative$100,000
NEW YORK ASIAN WOMEN'S CENTER INC DBA WOMANKINDNew York, NY501(c)(3)Anti - Hate Initiative$100,000
Napipa FoundationSan Jose, CA501(c)(3)Anti - Hate Initiative$100,000
National Korean American Service & Education ConsortiumChicago, IL501(c)(3)Anti - Hate Initiative$100,000
National Korean American Service & Education Consortium - Hamkae CenterChicago, IL501(c)(3)Education Initiative$100,000
Pacific Asian Counseling ServicesLos Angeles, CA501(c)(3)Anti - Hate Initiative$100,000
Rockefeller Philanthropy AdvisorsNew York, NY501(c)(3)Narrative Change Initiative$100,000
Sakhi for South Asian WomenNew York, NY501(c)(3)Anti - Hate Initiative$100,000
Sapna Nyc IncBronx, NY501(c)(6)Anti - Hate Initiative$100,000
Sikh American Legal Defense and Education FundWashington, DC501(c)(3)Anti - Hate Initiative$100,000
The Korean-american Family Service Center IncQueens, NY501(c)(3)Anti - Hate Initiative$100,000
Tides Center - NcapaSan Francisco, CA-Anti - Hate Initiative$100,000
Vietnamese Association of IllinoisChicago, IL501(c)(3)Anti - Hate Initiative$100,000
The Board of Trustees of the University of IllinoisChicago, IL501(c)(3)Education Initiative$75,000
Boat People Sos IncHouston, TX501(c)(3)Anti - Hate Initiative$58,000
Tahirih Justice CenterFalls Church, VA501(c)(3)Anti - Hate Initiative$58,000
Asian Americans for Equality IncNew York, NY501(c)(3)Anti - Hate Initiative$50,000
Caribbean Equality Project IncQueens, NY501(c)(3)Anti - Hate Initiative$50,000
Meals for Unity IncLong Island City, NY501(c)(3)Anti - Hate Initiative$50,000
Asian and Pacific Islander American VoteWashington, DC501(c)(3)Government Relations Initiative$40,000
Capi USABrooklyn Center, MN501(c)(3)Anti - Hate Initiative$30,000
Diversify Our Narrative (don)Laguna Beach, CA501(c)(3)Education Initiative$30,000
Mn8Saint Paul, MN501(c)(3)Anti - Hate Initiative$30,000
Sewa-aifw IncBrooklyn Center, MN501(c)(3)Anti - Hate Initiative$30,000
Transforming GenerationsSaint Paul, MN501(c)(3)Anti - Hate Initiative$30,000
La Mama EtcNew York, NY501(c)(3)Anti - Hate Initiative$25,000
Coalition of Asian American LeadersSt Paul, MN501(c)(3)Anti - Hate Initiative$15,000
Apex for Youth IncNew York, NY501(c)(3)Anti - Hate Initiative$10,000
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$803,777
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

A complete copy of the form 990 is provided to the board of directors of taaf before it was filed with the internal revenue service.

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

Taaf has a written conflict of interest policy approved by the board of directors that requires its officers, directors and key persons (as defined in the policy) annually to disclose their potential conflicts of interest and those of their family members. A disclosure form is distributed to all taaf officers, directors and key persons annually and reviewed by the board of directors for conflicts. If conflict is noted involving a member of the board of directors, such individual is required to recuse him/herself from voting while the determination of a conflict of interest is discussed and voted upon.

Form 990, Part VI, Section B, Line 15

The board of directors reviewed and approved the compensation of the organization's president/ceo. The compensation for officers and/or key employees was reviewed and approved by the organization's president/ceo.

Form 990, Part VI, Section C, Line 19

To the extent taaf's governing documents and financial statements are subject to federal public disclosure rules (or state public disclosure rules), these documents are made publicly available as applicable law may require.

Filing and Contact Details

Filer

Filer Name
The Asian American Foundation
EIN
85-2050585
Phone
6176971590
Address
PO BOX 21749, WASHINGTON, DC 20009

Signing Officer

Name
Norman Chen
Title
Chief Executive Officer
Phone
6176971590
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Norman Chen
Formed
2020
Legal Domicile
De
Voting Board Members
10
Independent Board Members
9
Employees
10
Volunteers
15

Preparer

Firm
Deloitte Tax Llp
Address
12830 EL CAMINO REAL SUITE 600, SAN DIEGO, CA 92130
Preparer
Jocelyne Miller
Phone
6192326500
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

The asian american foundation (taaf) serves the asian american, native hawaiian and pacific islander (aanhpi) community in their pursuit of safety, belonging and prosperity that is free from discrimination, slander, and violence. Launched in 2021 in response to the rise in anti-asian hate and to address the long-standing underinvestment in aapi communities, taaf is making cities safer; fighting to get our history taught in classrooms; uplifting aapi voices in hollywood, in newsrooms, and at every table where decisions are made. Through investing in bold partnerships and innovating on strategic programming, we're building a better future and country for all.

FORM 990, PART III, LINE 4A, DESCRIPTION OF PROGRAM SERVICE:

Anti-asian hate monitoring and prevention launched in 2021 in response to the rise in anti-asian hate, taaf's anti-hate & safety national network, comprised of national, regional and local organizations, provides essential direct services, safety, and healing for survivors, families and the impacted community. The national network also focuses on sharing best practices and resources to better track, respond to and streamline solutions for anti-hate work. In 2024, taaf hosted its first ever anti-hate & safety national network convening, bringing together over 50 grantees and allied organizations over two days in nyc. Additionally, taaf launched two safety studies to examine the safety concerns of aanhpi residents in nyc and seattle.

FORM 990, PART III, LINE 4B, DESCRIPTION OF PROGRAM SERVICE:

Resources & representation taaf's resources & representation initiatives focus on unlocking resources through the aapi giving challenge and strengthening aanhpi leadership across industries. Taaf engages leaders through taaf's signature board and c-suite strategies and emerging executives through the taaf erg network (ten).taaf also works with partners to unlock resources through the aapi giving challenge, a multi-year campaign that rallies companies, foundations, and individuals to support aanhpi communities and causes and taaf's award-winning nonprofit database, a digital platform that connexts the public with aanhpi nonprofits across the us.

FORM 990, PART III, LINE 4C, DESCRIPTION OF PROGRAM SERVICE:

Education taaf's education efforts focus on expanding asian american history in classrooms across the country. Efforts primarily centered on launching the "aapi history hub", a first-of-its-kind online educational platform that provides k-12 educators with over 280 high-quality, vetted, standards- aligned curricular resources covering aapi history. Earlier this year, taaf, in partnership with asian americans advancing justice chicago, also launched the "teaach field guide & executive summary" outlining key lessons and recommendations for advocates, policymakers and educators seeking to standardize the teaching of aapi history in k-12 schools nationwide.

FORM 990, PART XI, LINE 9:

Change due to laaunch merger 284,972.

FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS:

Leading asian americans to unite for change foundation (laaunch), is a nonprofit organization working to end racism and increase representation for asian americans by developing innovative programs that support, advocate, and elevate the asian american community. Laaunch merged with taaf on october 17, 2024.

Financial Statement Notes

PART X, LINE 2:

Income taxes taaf is a nonprofit corporation exempt from federal income tax under section 501(c)(3) of the internal revenue code. Taaf accounts for income taxes in accordance with the fasb asc 740, income taxes. Fasb asc 740 prescribes a comprehensive model for how an organization should recognize, measure, present, and disclose in its financial statements uncertain tax positions that taaf has taken, or expects to take, on a tax return. For the years ended december 31, 2023 and 2022, management concluded that taaf had taken no uncertain income tax positions that require adjustments to the financial statements to comply with the provisions of this guidance.

Raw XML AppendixShowing 400 of 1,330 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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