Asian Festival Corp

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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

2004

Legal Domicile

Phone

6143150189

Tax Period

2025-01-01 to 2025-12-31

Asian Festival Corp, founded in 2004, is a small nonprofit in the Recreation & Sports sector that reported $286K in total revenue in fiscal year 2025. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $358K exceeded revenue, resulting in a 25% operating deficit.

Mission

Asian Festival promotes the importants of cultural diversity in building a vibrant,prosperous and healthy community. Our statement of values: Show casing our cultural heritage advocating the importance of lifelong learning and education. Providing a fn and entertaining experience Nurturing community collaboration and strong relationships fostering a healthy lifestyle and quality of life Serving with integrity.

Program Service Accomplishments

Program 1

Expenses: $315,581 Revenue: $88,000

This year we celebrated 31 years with special performances from laos Vietnam and Cambodia. As in previous years we featured Performances, Martial Arts Music, Dance. Bringing in groups as Panama Dance group,Huayun Dance Group, Ohio Turtle Fan, JungWei Lio Dance Assoc.Ohio Wushu Academy Dragon Dance Loa Heritage Foundation, School of Yakshahejje, Khmer Angkor Traditional Dance. Group performed on Main Stage, Comunity Square Stage. Cultural Activities: Festival Activities are held at and around Franklin Park, A Dragon Boat races were held at Bicentenial Park. Asian Games hosted a Table Tennis tournament. Community Square where Each participating countryhas a booth showcasing rich cultural , traditions and photo displays including hands on workshops. Children Area providing hands on activities activities target for children . Members of the community were available to interact and communicate with the audience.

Program 2

Expenses: $19,834 Revenue: $22,250

Health and Wellness Pavilion :Includes a comprehensive Health Screening (including Vision/Eye,Children, Dental, Mental Health, Nutrition Assessment , and Others) and wellness education to all...

Health and Wellness Pavilion :Includes a comprehensive Health Screening (including Vision/Eye,Children, Dental, Mental Health, Nutrition Assessment , and Others) and wellness education to all participants throught the support of the Ohio Commission of Minority Health, Cardinal Health, The OSU Wexner Medical Center, ADAMH, Quantum Health, Ohio Asian American Health Coalition. Trained Community liaisons recruit participants for Eleven Asian ethnic groups to participate.

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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%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $180,365

Program Service Revenue $62,328

Investment Income $30,245

Other Revenue $13,000

TOTAL REVENUE $285,938

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $15,834

Program Expenses $335,415

Other Expenses $358,451

TOTAL EXPENSES $358,451

Year-over-Year Comparison

	2025	2024	Change
Revenue	$285,938	$445,221	-0.4%
Expenses	$358,451	$417,031	-0.1%
Net Income	$-72,513	$28,190	-3.6%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

100

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Roy D'sa	President	0.00	Officer	$0	$0	$0
Greg Lam	Vice President	N/A	Officer	$0	$0	$0
Bouthanh Phommasathit	Treasurer	0.00	Officer	$0	$0	$0
Kay Zhang	Secretary	0.00	Officer	$0	$0	$0
Austin Chen	Director	N/A	Director	$0	$0	$0
Greg Thirtyacre	Director	0.00	Director	$0	$0	$0
Jeff Woo	Director	0.00	Director	$0	$0	$0
Nan Li	Director	0.00	Director	$0	$0	$0
Valerie Huang	Director	0.00	Director	$0	$0	$0
Mory Fuhrmann	Director	0.00	Director	$0	$0	$0
James Wiggin	Director	0.00	Director	$0	$0	$0
Inna Simakovsky	Director	0.00	Director	$0	$0	$0
Master Sen Gao	Director	0.00	Director	$0	$0	$0

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	$285,938	$358,451	$997,706	$-72,513
2024	$445,221	$417,031	$1,040,963	$28,190
2023	$362,047	$360,119	$1,010,145	$1,928
2022	$202,303	$92,262	$1,009,441	$110,041
2021	$186,814	$76,572	$898,893	$110,242
2020	$173,027	$38,850	$787,882	$134,177
2019	$430,776	$412,400	$653,536	$18,376
2018	$355,537	$322,906	$635,714	$32,631