VIETNAMESE AMERICAN INITIATIVE FOR DEVELOPMENT INC

EIN: 043289039 501(c)(3) Housing & Shelter

DORCHESTER, MA

Total Revenue
$2,041,022
Total Expenses
$1,861,004
Total Assets
$8,237,266
Net Assets
$3,439,770
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
MA
Principal Officer
GEORGE HUYNH
Phone
6178223717
Tax Period
2024-01-01 to 2024-12-31

VIETNAMESE AMERICAN INITIATIVE FOR DEVELOPMENT INC, founded in 1994, is a community nonprofit in the Housing & Shelter sector that reported $2.0M in total revenue in fiscal year 2024. Revenue decreased 15% compared to the prior year. Expenses of $1.9M left a modest 9% surplus.

Mission

VIETAID'S MISSION IS TO BUILD A STRONG VIETNAMESE COMMUNITY AND A VIBRANT FIELDS CORNER THROUGH THE FOLLOWING MEASURES: PROMOTING CIVIC ENGAGEMENT AND COMMUNITY BUILDING; DEVELOPING AFFORDABLE HOUSING AND COMMERCIAL SPACE; ENRICHING YOUTH LEADERSHIP; OFFERING HIGH-QUALITY CHILD AND SENIOR CARE; AND PROVIDING DIVERSE DIRECT AND SOCIAL SERVICES.

Program Service Accomplishments

Program 1
Expenses: $80,582 Revenue: $311,779

REAL ESTATE DEVELOPMENT - AS A COMMUNITY DEVELOPMENT CORPORATION, VIETAID'S PRIMARY GOAL IS TO DEVELOP AFFORDABLE HOUSING TO SUPPORT STABILIZING THE WORKING CLASS CORE OF DORCHESTER. ONE WAY WE HAVE...

Read more

REAL ESTATE DEVELOPMENT - AS A COMMUNITY DEVELOPMENT CORPORATION, VIETAID'S PRIMARY GOAL IS TO DEVELOP AFFORDABLE HOUSING TO SUPPORT STABILIZING THE WORKING CLASS CORE OF DORCHESTER. ONE WAY WE HAVE WORKED TO ACHIEVE THIS GOAL IS BY BUILDING AFFORDABLE HOUSING DEVELOPMENTS AND DEED RESTRICTING THEM IN PERPETUITY TO CREATE STABILITY AMONG HOUSING OFFERINGS IN THE COMMUNITY. VIETAID HAS DEVELOPED FIVE SIGNIFICANT, MIXED-USE AFFORDABLE HOUSING PROJECTS, ALL OF WHICH ARE LOCATED WITHIN A HALF-MILE RADIUS OF PUBLIC TRANSPORTATION IN DORCHESTER. VIETAID HAS HIRED TRINITY MANAGEMENT, LLC, A COMPANY THAT SPECIALIZES IN MANAGING AFFORDABLE HOUSING IN AN URBAN SETTING, TO MANAGE OUR PORTFOLIO OF 123 AFFORDABLE RENTAL UNITS THAT PROVIDE AFFORDABLE AND QUALITY HOUSING TO OVER 123 FAMILIES AND INDIVIDUALS. WE HELP APPLICANTS NAVIGATE LOW-INCOME HOUSING TAX CREDITS (LIHTC) AND THE MASSACHUSETTS RENTAL VOUCHER PROGRAMS (MVRP).AS A MASSACHUSETTS HOMEOWNERSHIP COLLABORATIVE APPROVED COUNSELING AGENCY, VIETAID SUPPORTS FAMILIES THROUGH THE PROCESS OF RENTING A HOME OR ACQUIRING AFFORDABLE HOUSING, INCLUDING UNDERSTANDING TENANT AND LANDLORD'S RIGHTS AND RESPONSIBILITIES AND NAVIGATING THE CONTRACT BETWEEN THE HOUSING AGENT, LANDLORD, AND TENANT. VIETAID'S FIRST-TIME HOMEBUYER TRAINING TEACHES ABOUT BASIC HOME PURCHASING, FINANCING APPLICATION PROCEDURES, BUILDING CREDIT, MORTGAGE QUALIFICATION, FINANCIAL LITERACY, AND HOMEOWNERSHIP. VIETAID IS THE ONLY PROGRAM IN MASSACHUSETTS THAT PROVIDES HOME BUYING COUNSELING IN VIETNAMESE. WE HAVE ASSISTED OVER 400 FAMILIES THROUGH HOUSING COUNSELING PROGRAMS AND CERTIFIED APPROXIMATELY 600 LIMITED ENGLISH PROFICIENT INDIVIDUALS IN OUR TEN-HOUR WORKSHOPS. VIETAID HELPS LOW-INCOME FAMILIES IMPROVE THEIR INCOME AS WELL AS ACCUMULATE AND EXPAND FAMILY WEALTH BY EDUCATING 250-300 PROSPECTIVE HOMEBUYERS/HOMEOWNERS ON THE HOME-BUYING PROCESS AND HOMEOWNERSHIP, ASSISTING 40-50 GRADUATES IN PURCHASING THEIR FIRST HOMES, AND ASSISTING 100 HOMEOWNERS TO ACCESS RESOURCES TO RETROFIT OR REPAIR THEIR HOMES.

Program 2
Expenses: $461,493

COMMUNITY ORGANIZING AND SUPPORT - VIETAID PARTICIPATES IN AND HOSTS A NUMBER OF EVENTS THROUGHOUT THE YEAR, RECOGNIZING THAT THE CELEBRATION OF A VARIETY OF OCCASIONS ARE KEY TO BUILDING A SENSE OF...

Read more

COMMUNITY ORGANIZING AND SUPPORT - VIETAID PARTICIPATES IN AND HOSTS A NUMBER OF EVENTS THROUGHOUT THE YEAR, RECOGNIZING THAT THE CELEBRATION OF A VARIETY OF OCCASIONS ARE KEY TO BUILDING A SENSE OF UNITY AND BELONGING WITHIN THE COMMUNITY. SOME OF THESE INCLUDE: TET, THE VIETNAMESE LUNAR NEW YEAR; DORCHESTER DAY PARADE; AND MANY MORE. IN ADDITION TO VIETAID LED EVENTS, WE ALSO COLLABORATE WITH A WIDE RANGE OF COMMUNITY ORGANIZATIONS AND PARTNERS TO HELP BROADEN OUR REACH IN ENGAGEMENT. WE PARTICIPATE THROUGH VARIOUS MEANS SUCH AS BEING PART OF OTHER HOSTED EVENTS OR COMMUNITY MEETINGS. SOME OF THESE INCLUDE: A TET TALK AT THE MUSEUM OF FINE ARTS; LOVE YOUR BLOCK (A CITY-WIDE CLEAN-UP INITIATIVE); AND MORE.BEYOND CULTURAL CELEBRATIONS AND COMMUNITY SERVICE, VIETAID IS COMMITTED TO PROMOTING SOCIAL JUSTICE AND ADVOCATING FOR AND WITH COMMUNITY MEMBERS ON A NUMBER OF ISSUES. OVER THE YEARS, OUR ORGANIZATION HAS LED CANVASSING EFFORTS FOR INCREASED CIVIC ENGAGEMENT, ENGAGED IN ACTIONS AGAINST DISPLACEMENT, AND SUPPORTED MANY OTHER MOVEMENTS THAT IMPACT OUR COMMUNITY.OLDER ADULT PROGRAM: IN 2018, VIETAID TOOK OVER A DROP IN DAY PROGRAM FOR OLDER ADULTS IN THE DORCHESTER NEIGHBORHOOD. THE ONLY FREE PROGRAM, THIS PROGRAM PROMOTES HEALTHY AGING THROUGH WELLNESS AND CIVIC ENGAGEMENT. BETWEEN 85-120 PARTICIPANTS VISIT THE PROGRAM ON A DAILY BASIS.

Program 3
Expenses: $752,861 Revenue: $19,120

EARLY EDUCATION - FOUNDED IN 2005, AU CO PRESCHOOL IS THE FIRST AND ONLY VIETNAMESE BILINGUAL AND BICULTURAL PRESCHOOL PROGRAM IN MASSACHUSETTS. AU CO IS A MASSACHUSETTS DEPARTMENT OF EARLY EDUCATION...

Read more

EARLY EDUCATION - FOUNDED IN 2005, AU CO PRESCHOOL IS THE FIRST AND ONLY VIETNAMESE BILINGUAL AND BICULTURAL PRESCHOOL PROGRAM IN MASSACHUSETTS. AU CO IS A MASSACHUSETTS DEPARTMENT OF EARLY EDUCATION AND CARE CERTIFIED PROGRAM. MOST CHILDREN ARE SUPPORTED WITH TUITION SUPPORT FROM THE GOVERNMENT OR OUR SCHOLARSHIP PROGRAM. RUN BY SEVEN, EXPERIENCED BILINGUAL AND BICULTURAL DAYCARE PROVIDERS, AU CO PREPARES OUR STUDENTS TO ENROLL IN KINDERGARTEN IN THE BOSTON PUBLIC SCHOOLS WITH AN APPROACH TO EDUCATION THAT SUPPORTS PHYSICAL, SOCIAL, EMOTIONAL, AND COGNITIVE DEVELOPMENT. SPANISH AND PORTUGUESE LANGUAGE SUPPORT ALSO AVAILABLE. OUR CLASSROOMS HAVE A STUDENT: TEACHER RATIO OF 8:1.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Sign In — Free (10 views/day)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,582,385
Program Service Revenue $386,896
Investment Income $31,217
Other Revenue $40,524
TOTAL REVENUE $2,041,022

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,377,493
Fundraising Expenses $0
Program Expenses $1,415,933
Other Expenses $483,511
TOTAL EXPENSES $1,861,004

Year-over-Year Comparison

2024 2023 Change
Revenue $2,041,022 $2,398,830 -0.1%
Expenses $1,861,004 $2,641,398 -0.3%
Net Income $180,018 $-242,568 -1.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Sign In

Governance

Voting Members
8
Independent Members
8
Employees
25
Volunteers
54

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
5
$130,585
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KIM THAI CHAIR 1.00
Officer Director
$0 $0 $0
JOHN HO CO-CHAIR 1.00
Officer Director
$0 $0 $0
DANIELLE GOATLEY TREASURER 1.00
Officer Director
$0 $0 $0
KERRY MCGOWAN CLERK 1.00
Officer Director
$0 $0 $0
KHANG NGUYEN MEMBER 1.00
Director
$0 $0 $0
JIM COLLINS MEMBER 1.00
Director
$0 $0 $0
AISHA MILLER MEMBER 1.00
Director
$0 $0 $0
THERESA TRAN MEMBER (AS OF 2024) 1.00
Director
$0 $0 $0
GEORGE HUYNH EXECUTIVE DIRECTOR 40.00
Officer
$126,735 $3,850 $130,585
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
2024 $2,041,022 $1,861,004 $8,237,266 $180,018
2023 $2,398,830 $2,641,398 $6,572,826 $-242,568
2022 $1,939,615 $2,104,763 $5,585,930 $-165,148
2021 $2,891,262 $2,480,925 $5,524,818 $410,337
2020 $2,901,778 $2,203,203 $5,246,221 $698,575
2019 $1,143,845 $1,649,424 $4,352,716 $-505,579
2019 $1,243,722 $1,532,831 $3,970,229 $-289,109
2018 $1,216,568 $1,807,143 $4,191,322 $-590,575
Explore More Nonprofits
Top 100 Nonprofits in Massachusetts Largest U.S. Nonprofits Best Rated Nonprofits Most Efficient Nonprofits

Compare VIETNAMESE AMERICAN INITIATIVE FOR DEVELOPMENT INC with other nonprofits in Massachusetts and across the country.