QUINCY ASIAN RESOURCES INC

EIN: 010556446 501(c)(3) Human Services

QUINCY, MA

Total Revenue
$4,105,422
Total Expenses
$3,833,383
Total Assets
$3,152,934
Net Assets
$2,292,369
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
MA
Principal Officer
PHILIP CHONG
Phone
6174722200
Tax Period
2024-07-01 to 2025-06-30

QUINCY ASIAN RESOURCES INC, founded in 2001, is a community nonprofit in the Human Services sector that reported $4.1M in total revenue in fiscal year 2024. Expenses of $3.8M left a modest 7% surplus.

Mission

TO FOSTER & IMPROVE THE SOCIAL, CULTURAL, ECONOMIC & CIVIC LIVES OF IMMIGRANTS & THEIR FAMILIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,472,543
Program Service Revenue $930,067
Investment Income $17,638
Other Revenue $-314,826
TOTAL REVENUE $4,105,422

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,920,510
Fundraising Expenses $324,232
Program Expenses $3,114,800
Other Expenses $1,912,873
TOTAL EXPENSES $3,833,383

Year-over-Year Comparison

2024 2023 Change
Revenue $4,105,422 $4,062,832 +0.0%
Expenses $3,833,383 $3,625,199 +0.1%
Net Income $272,039 $437,633 -0.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
11
Employees
47
Volunteers
11

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$251,458
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LILY HSU BOARD CHAIR 0.50
Officer Director
$0 $0 $0
DR WAN WU VICE CHAIRMAN 0.50
Officer Director
$0 $0 $0
MICHAEL MULLIN TREASURER 0.50
Officer Director
$0 $0 $0
MARIA FRUCI SECRETARY 0.50
Officer Director
$0 $0 $0
ATIF ADAM BOARD MEMBER 0.50
Director
$0 $0 $0
BETTY CHENG BOARD MEMBER 0.50
Director
$0 $0 $0
DAVID CHEW BOARD MEMBER 0.50
Director
$0 $0 $0
GARY CHU BOARD MEMBER 0.50
Director
$0 $0 $0
LILY CHU BOARD MEMBER 0.50
Director
$0 $0 $0
ALISON MARSHALL BOARD MEMBER 0.50
Director
$0 $0 $0
TREVOR WILLIAMS BOARD MEMBER 0.50
Director
$0 $0 $0
KIN HO CHONG PRESIDENT & CEO 37.50
Officer
$239,918 $0 $239,918
KEVIN BARRY CFO 37.50
Officer
$11,540 $0 $11,540
EMILY CANNER COO 37.50
Highest
$148,123 $0 $148,123
DOTTIE MURPHY CPO 37.50
Highest
$121,836 $0 $121,836
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $4,105,422 $3,833,383 $3,152,934 $272,039
2024 $4,062,832 $3,625,199 $2,902,952 $437,633
2023 $2,206,188 $2,865,685 $2,325,468 $-659,497
2022 $4,579,576 $4,372,065 $2,462,377 $207,511
2021 $5,700,731 $5,028,857 $2,397,803 $671,874
2020 $1,337,463 $1,451,349 $1,378,621 $-113,886
2019 $2,003,310 $1,070,236 $1,469,158 $933,074
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