Civic Intelligence

Asian Inc.

990 • Fiscal year 2017 • EIN 94-1753170

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 14, 2018

Organization ProfileWWW.ASIANINC.ORG
1167 MISSION ST 4TH FloorSan Francisco, CA 94103

(415) 928-5910

Siviq Scores

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

Liabilities / Assets

81st percentile

0.64x

Higher debt load relative to assets than 81% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

86th percentile

1.70x

Higher debt load relative to revenue than 86% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

49th percentile

2.7%

Higher net margin than 49% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

61st percentile

$144,661

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

17th percentile

-4.4%

Faster asset growth than 17% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

20th percentile

-7.9%

Faster revenue growth than 20% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$8,638,078

Down $398,021 (-4.4%) from 2016

Net Assets

Down

$3,119,843

Down $171,595 (-5.2%) from 2016

Liabilities

Down

$5,518,235

Down $226,426 (-3.9%) from 2016

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin49th percentile

Revenue

Down

$3,253,236

Down $278,851 (-7.9%) from 2016

Expenses

Up

$3,166,332

Up $36,795 (+1.2%) from 2016

Net Income

Down

$86,904

Down $315,646 (-78%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$15M$10M$5.0M$0Assets 2010: $5,945,066Liabilities 2010: $3,810,164Net Assets 2010: $2,134,9022010Assets 2011: $9,554,677Liabilities 2011: $6,087,435Net Assets 2011: $3,467,2422011Assets 2012: $8,849,622Liabilities 2012: $5,768,441Net Assets 2012: $3,081,1812012Assets 2013: $8,472,641Liabilities 2013: $6,020,240Net Assets 2013: $2,452,4012013Assets 2014: $9,145,415Liabilities 2014: $6,812,784Net Assets 2014: $2,332,6312014Assets 2015: $7,305,375Liabilities 2015: $4,416,487Net Assets 2015: $2,888,8882015Assets 2016: $9,036,099Liabilities 2016: $5,744,661Net Assets 2016: $3,291,4382016Assets 2017: $8,638,078Liabilities 2017: $5,518,235Net Assets 2017: $3,119,8432017Assets 2018: $8,637,930Liabilities 2018: $5,317,253Net Assets 2018: $3,320,6772018Assets 2019: $8,818,957Liabilities 2019: $5,243,304Net Assets 2019: $3,575,6532019Assets 2020: $10,510,576Liabilities 2020: $6,160,985Net Assets 2020: $4,349,5912020Assets 2021: $12,344,249Liabilities 2021: $6,616,310Net Assets 2021: $5,727,9392021Assets 2022: $13,642,103Liabilities 2022: $7,573,221Net Assets 2022: $6,068,8822022Assets 2023: $13,830,227Liabilities 2023: $7,483,361Net Assets 2023: $6,346,8662023Assets 2024: $14,814,259Liabilities 2024: $7,260,354Net Assets 2024: $7,553,9052024

Highlighted filing

2017

Assets$8,638,078
Liabilities$5,518,235
Net Assets$3,119,843
Open 2017 Filing

Operations Trend

Revenue Growth20th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2010: $2,441,588Expenses 2010: $2,263,947Net Income 2010: $177,6412010Revenue 2011: $3,670,752Expenses 2011: $3,170,660Net Income 2011: $500,0922011Revenue 2012: $3,393,828Expenses 2012: $3,544,391Net Income 2012: -$150,5632012Revenue 2013: $2,835,712Expenses 2013: $3,167,308Net Income 2013: -$331,5962013Revenue 2014: $3,197,781Expenses 2014: $3,317,662Net Income 2014: -$119,8812014Revenue 2015: $3,381,551Expenses 2015: $3,229,827Net Income 2015: $151,7242015Revenue 2016: $3,532,087Expenses 2016: $3,129,537Net Income 2016: $402,5502016Revenue 2017: $3,253,236Expenses 2017: $3,166,332Net Income 2017: $86,9042017Revenue 2018: $3,334,886Expenses 2018: $3,087,839Net Income 2018: $247,0472018Revenue 2019: $3,628,497Expenses 2019: $3,373,521Net Income 2019: $254,9762019Revenue 2020: $4,378,715Expenses 2020: $3,604,777Net Income 2020: $773,9382020Revenue 2021: $4,897,792Expenses 2021: $3,519,444Net Income 2021: $1,378,3482021Revenue 2022: $4,447,185Expenses 2022: $4,072,368Net Income 2022: $374,8172022Revenue 2023: $4,287,646Expenses 2023: $4,009,662Net Income 2023: $277,9842023Revenue 2024: $5,561,637Expenses 2024: $4,381,533Net Income 2024: $1,180,1042024

Highlighted filing

2017

Revenue$3,253,236
Expenses$3,166,332
Net Income$86,904
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 14, 2018
Return Version
2017v2.2
Gross Receipts
$3,625,372
Mission and Program Overview

Mission

The core mission of ASIAN, Inc. is the empowerment of the Asian American Community to achieve social equality by reducing dependency to create and expand access to opportunities in the areas of business development, housing and education.

The core mission of ASIAN, Inc. is the empowerment of the Asian American Community to achieve social equality by reducing dependency to create and expand access to opportunities in the areas of business development, housing and education. The most significant activities include technical assistance and research for strengthening the infrastructures of Asian American Communities in Northern California and to assist in their physical, economic, and social development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,805,525$3,556,732▼ $248,793
Accounts Receivable$762,614$1,482,258▲ $719,644
Other Notes and Loans Receivable, Net$1,053,636$959,916▼ $93,720
Savings and Temporary Cash Investments$896,378$941,058▲ $44,680
Cash and Non-Interest-Bearing Accounts$916,308$889,630▼ $26,678
Pledges and Grants Receivable$100,000$50,000▼ $50,000
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$9,036,099$8,638,078▼ $398,021
Other Assets Total$1,501,638$758,484▼ $743,154
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,364,866$4,232,702▼ $132,164
Other Liabilities$645,490$771,782▲ $126,292
Accounts Payable and Accrued Expenses$676,667$465,731▼ $210,936
Escrow Account Liability$57,638$48,020▼ $9,618
Total Liabilities$5,744,661$5,518,235▼ $226,426
Net Assets / Fund Balance
Unrestricted Net Assets$2,770,562$2,648,967▼ $121,595
Temporarily Rstr Net Assets$520,876$470,876▼ $50,000
Total Net Assets Fund Balance$3,291,438$3,119,843▼ $171,595
Total Liabilities and Net Assets / Fund Balance$9,036,099$8,638,078▼ $398,021

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,554,197$703,845$3,258,042
Land$983,492-$983,492
Equipment$15,891$67,217$83,108
Other Land Buildings$3,152$9,065$12,217
Other Assets Org$81,711--
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael ChanPresidentFT$131,000$13,661$144,661
Herbert QuanDirector OF OPFT$87,875$9,419$97,294

Board Members and Trustees

NameTitle
Frank FungChairman
Robert LoVice-chair
Greg MarutaniBoard member
Jonathan LeongBoard Member
Roger RoyseBoard Member
Yihou HanBoard Member
Christina CiuSecretary
Betty LemTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$325,814
Program Service Revenue
$2,584,325
Investment Income
$2,523
Other Revenue
$340,574
All Other Contributions
$235,283
Change in Net Assets
$86,904

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$15,000Fair Market Value (FMV)
Other Non Cash Contri Table1$11,057Fair Market Value (FMV)
Other Non Cash Contri Table1$6,500Fair Market Value (FMV)
Other Non Cash Contri Table1$5,500Fair Market Value (FMV)
Other Non Cash Contri Table1$3,905Fair Market Value (FMV)
Food Inventory2$1,201Fair Market Value (FMV)
Other Non Cash Contri Table1$200Fair Market Value (FMV)
Other Non Cash Contri Table1$117Fair Market Value (FMV)
Total Noncash Contributions9$43,480-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,210,634
Other Expenses$955,698
Total Fundraising Expense$59,544
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,296,437$259,269$30,446$1,586,152
Occupancy$347,095$72,462$790$420,347
Other Employee Benefits$191,965$86,531$2,558$281,054
Current Officers, Directors, Trustees, and Key Employees$197,762$39,550$4,643$241,955
Travel$77,662$6,763$925$85,350
Pension Plan Contributions$46,403$9,280$1,090$56,773
Fees for Services Other$40,156$11,442-$51,598
Payroll Taxes$34,232$9,974$494$44,700
Office Expenses$24,385$13,305$987$38,677
Fees for Services Accounting$27,846$7,854-$35,700
All Other Expenses$16,834$10,618$82$27,534
Interest$19,394$3,209-$22,603
Other Expenses$14,205$2,378$16,104$16,104
Fees for Services Legal$6,804$1,919-$8,723
Depreciation Depletion-$6,427-$6,427
Insurance$3,186$10-$3,196
Total Functional Expenses$2,552,904$553,884$59,544$3,166,332
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$77,408
Fundraising Gross Income$77,408
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$167,939$77,408$77,408$0
Total Events$167,939$77,408$77,408-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Parties$637,971
Line of Credit$133,811
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 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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The outside, independent cpa prepares the form 990, the board members review the form 990 before filing it.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The conflict of interest policy is monitored and reviewed by the board annually and signed in order to show compliance.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The compensation of the top management official (the president) is determined by a compensation and benefits survey report for nonprofits as well as a review and approval by the board of directors.the other officers or key employees' compensations are determined, reviewed and approved by the president.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Documents are available upon request”

Filing and Contact Details

Filer

Filer Name
Asian Inc
EIN
94-1753170
Phone
4159285910
Address
1167 MISSION ST 4TH Floor, SAN FRANCISCO, CA 94103

Signing Officer

Name
Michael Chan
Title
President
Signed
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Chan
Formed
1971
Legal Domicile
CA
Voting Board Members
10
Independent Board Members
10
Employees
48
Volunteers
2

Preparer

Firm
Chek Tan and Company
Address
309 4TH AVENUE SUITE 300, SAN FRANCISCO, CA 94118-2405
Preparer
Chek Tan
Phone
4156738573
Supplemental Narrative

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

“ASIAN, Inc. holds certain accounts in trust for others in the course of its affordable housing program operations. The balances consist of tenant deposits and operating accounts for affiliates for which ASIAN, Inc. serves as property manager.”

Part X : FIN48 Footnote

“ASIAN, Inc. and its nonprofit Affiliates NHRC II, NHRC III, NHCR IV, Minna Inc., Van Ness Inc., Natoma Inc., and O'Farrell Inc. are exempt from taxation under Internal Revenue Code Section 501(c)(3) and California Revenue and Taxation Code Section 23701d. The limited partnerships: Natoma LP, Van Ness LP, Minna LP, Turk LP, Lassen LP, and Post LP, are pass-through entities not subject to income taxation except for the annual California limited partnership fee of $800. All taxable income,deductions, and tax credits are passed to, and are reportable by the partners individually. In 2017, the partnerships paid $5,600 in California limited partnership fees.Generally accepted accounting principles provides accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. Management has considered its tax positions and believes that all of the positions taken by ASIAN, Inc. in its federal and state tax returns are more likely than not to be sustained upon examination. ASIAN, Inc.'s respective returns are subject to examination by federal and state taxing authorities, generally for three and four years, respectively, after they are filed.”

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IRS990/MissionDesc0The core mission of ASIAN, Inc. is the empowerment of the Asian American Community to achieve social equality by reducing dependency to create and expand access to opportunities in the areas of business development, housing and education. The most significant activities include technical assistance and research for strengthening the infrastructures of Asian American Communities in Northern California and to assist in their physical, economic, and social development.
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IRS990/PoliticalCampaignActyInd0false
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IRS990/PrincipalOfficerNm0Michael Chan
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11831671
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11831671
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2679164
IRS990/ProgSrvcAccomActy2Grp/Desc0ECONOMIC DEVELOPMENT PROVIDES MANAGEMENT AND TECHNICAL ASSISTANCE PRIMARILY TO A VARIETY OF SMALL AND LARGER ASIAN AMERICAN AND OTHER MINORITY BUSINESSES AND IS FUNDED BY FEDERAL MBDA, DEPARTMENT OF COMMERCE.
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,638,078
Liabilities
$5,518,235
Net assets
$3,119,843
Revenue
$3,253,236
Expenses
$3,166,332
Net income
$86,904
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$14.8$7.26$7.55$5.56$4.38$1.18
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.8$7.48$6.35$4.29$4.01$0.28
2022Detailed filing. Detailed filing data is available for this year.$13.6$7.57$6.07$4.45$4.07$0.37
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.3$6.62$5.73$4.90$3.52$1.38
2020Detailed filing. Detailed filing data is available for this year.$10.5$6.16$4.35$4.38$3.60$0.77
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.82$5.24$3.58$3.63$3.37$0.25
2018Detailed filing. Detailed filing data is available for this year.$8.64$5.32$3.32$3.33$3.09$0.25
2017Detailed filing. Detailed filing data is available for this year.$8.64$5.52$3.12$3.25$3.17$0.09
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.04$5.74$3.29$3.53$3.13$0.40
2015Detailed filing. Detailed filing data is available for this year.$7.31$4.42$2.89$3.38$3.23$0.15
2014Detailed filing. Detailed filing data is available for this year.$9.15$6.81$2.33$3.20$3.32$0.12
2013Summary only. Only limited summary data is available for this year.$8.47$6.02$2.45$2.84$3.17$0.33
2012Summary only. Only limited summary data is available for this year.$8.85$5.77$3.08$3.39$3.54$0.15
2011Summary only. Only limited summary data is available for this year.$9.55$6.09$3.47$3.67$3.17$0.50
2010Summary only. Only limited summary data is available for this year.$5.95$3.81$2.13$2.44$2.26$0.18