ASIAN AMERICANS FOR EQUALITY INC

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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

1974

Legal Domicile

Principal Officer

THOMAS YU

Phone

2129798381

Tax Period

2023-01-01 to 2023-12-31

ASIAN AMERICANS FOR EQUALITY INC, founded in 1974, is a mid-sized nonprofit that reported $10.9M in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $9.8M left a modest 10% surplus.

Mission

TO ADVANCE RACIAL, SOCIAL AND ECONOMIC JUSTICE FOR ASIAN AMERICANS AND OTHER SYSTEMATICALLY DISADVANTAGED COMMUNITIES BY CREATING AFFORDABLE HOUSING AND ECONOMIC OPPORTUNITY, PROVIDING AN ARRAY OF MULTILINGUAL COMMUNITY SERVICES AND FOSTERING GRASSROOTS LEADERSHIP AND CIVIC ENGAGEMENT.

Program Service Accomplishments

Program 1

Expenses: $2,920,355 Revenue: $1,691,791

PLANNING AND DEVELOPMENT: IN THE PAST THREE DECADES, ASIAN AMERICANS FOR EQUALITY HAS DEVELOPED AND PRESERVED MORE THAN 1,200 AFFORDABLE APARTMENTS IN IMMIGRAT AND LOW-INCOME COMMUNITIES ACROSS NEW YORK CITY. THE GOAL OF OUR HOUSING DEVELOPMENT WORK IS TO CREATE SAFE AND HEALTHY HOMES FOR LOW- AND MIDDLE-INCOME INDIVIDUALS AND FAMILIES, PROVIIDNG THE HOUSING STABILITY THEY NEED TO THRIVE AND PRESERVING THE ESSENTIAL CHARACTER OF OUR DIVERSE NEIGHBORHOODS. AAFE'S PLANNING & DEVELOPMENT TEAM HAS A STRONG TRACK RECORD OF INNOVATION, PIONEERING VARIOUS PROGRAMS THAT HAVE BECOME CITYWIDE MODELS, INCLUDING THE USE OF LOW-INCOME TAX CREDITS TO BUILD AFFORDABLE HOUSING, THE CITY'S AFFORDABLE HOUSING COOPERATIVE PROGRAM AND THE POST 9/11 CHINATOWN/LOWER EAST SIDE PRESERVATION.

Program 2

Expenses: $2,177,090 Revenue: $1,372,639

COMMUNITY OUTREACH AND EDUCATION: AAFE'S OUTREACH AND EDUCATION PROGRAMS ARE DESIGNED TO EMPOWER COMMUNITY MEMBERS TO BECOME INFORMED AND ENGAGED MEMBERS IN THEIR BUILDINGS, NEIGHBORHOODS AND CIVIC ORGANIZATIONS. EACH YEAR, THOUSANDS OF INDIVIDUALS ATTEND OUR MULTILINGUAL EDUCATIONAL WORKSHOPS AND COMMUNITY EVENTS AND PARTICIPATE IN OUR ADVOCACY CAMPAIGNS. AAFE WORKS TO REGISTER VOTERS, ORGANIZE RENT STABILIZED TENANTS AND ENGAGE IMMIGRANT YOUTH AND LOW-INCOME SENIORS. MORE THAN 100 VOLUNTEERS HELP STAFF OUR FOOD PANTRIES, BACK TO SCHOOL GIVEAWAYS AND MULTICULTURAL HOLIDAY CELEBRATIONS.

Program 3

Expenses: $2,048,152 Revenue: $289,560

HOUSING, IMMIGRATION AND SOCIAL SERVICES: THE FOUNDATION OF AAFE'S COMMUNITY SERVICES IS A STRONG BELIEF THAT EVERYONE SHOULD HAVE EQUITABLE ACCESS TO AFFORDABLE AND SAFE HOUSING, GOVERNMENT SAFETY NET PROGRAMS AND HEALTHCARE AND PATHWAYS TO U.S. CITIZENSHIP FOR THEMSELVES AND THEIR FAMILIES. WHILE MAINTAINING COMMUNITY CENTERS IN MANHATTAN 'S CHINATOWN AND THE LOWER EAST SIDE AND FLUSHING AND JACKSON HEIGHTS IN QUEENS, OUR INDIVIDUAL COUNSELING SERVICES ARE AVAILABLE CITYWIDE. AAFE PROVIDERS MULTILINGUAL ASSISTANCE IN ENGLISH, CHINESE, SPANISH, AND KOREAN TO HELP PREVENT HOUSING DISPLACEMENT, CONNECT LOW-INCOME COMMUITY MEMBERS WITH ESSENTIAL SOCIAL SERVICES AND IMMIGRATION ASSISTANCE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $6,804,011

Program Service Revenue $4,053,068

Investment Income $1,288

Other Revenue $36,814

TOTAL REVENUE $10,895,181

Expense Breakdown

Grants Paid $768,484

Salaries & Benefits $4,832,987

Fundraising Expenses $170,600

Program Expenses $7,145,597

Other Expenses $4,237,280

TOTAL EXPENSES $9,838,751

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,895,181	$11,572,389	-0.1%
Expenses	$9,838,751	$8,834,611	+0.1%
Net Income	$1,056,430	$2,737,778	-0.6%

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

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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

Employees

Volunteers

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

$713,804

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CATHERINE KIM	VICE CHAIR	3.00	Officer Director	$0	$0	$0
CONNIE LEE	DIRECTOR	1.00	Director	$0	$0	$0
DONNA CHIU	DIRECTOR	1.00	Director	$0	$0	$0
GRACE ALSTER	DIRECTOR	1.00	Director	$0	$0	$0
HEIDIE JOO BURWELL	SECRETARY	2.00	Officer Director	$0	$0	$0
JACQUELINE HUEY	SECRETARY (OUTGOING)	0.20	Officer Director	$0	$0	$0
JENNIFER WU	DIRECTOR	1.00	Director	$0	$0	$0
JIM BURKE	DIRECTOR	1.00	Director	$0	$0	$0
JOHN LEO	DIRECTOR	1.00	Director	$0	$0	$0
KAY WEBSTER	DIRECTOR	1.00	Director	$0	$0	$0
KENNETH COHEN	DIRECTOR	1.00	Director	$0	$0	$0
LYDIA TOM	CHAIR	4.00	Officer Director	$0	$0	$0
PEGGY CHAN	TREASURER	2.00	Officer Director	$0	$0	$0
PING DANG	DIRECTOR (OUTGOING)	0.20	Director	$0	$0	$0
TIMOTHY WONG	DIRECTOR (OUTGOING)	0.20	Director	$0	$0	$0
TOBY S BABA	DIRECTOR	2.00	Director	$0	$0	$0
WENDY TAKAHISA	DIRECTOR	2.00	Director	$0	$0	$0
JOY SUZANNE GRANADO	CHIEF ACCOUNTING OFFICER	23.00	Officer	$192,545	$28,046	$220,591
MY CHANG	CHIEF OF STAFF	23.00	Officer	$139,860	$8,044	$147,904
THOMAS YU	CO-EXECUTIVE DIRECTOR	23.00	Officer	$0	$66,264	$345,309
EDWARD LITVAK	DIRECTOR OF MARKETING	35.00	Highest	$155,364	$37,598	$192,962
EMILY RIOS	DIRECTOR OF COMMUNITY SERV	35.00	Highest	$165,128	$36,486	$201,614
ETHEL COFFINAS	DIRECTOR OF HUMAN RESOURCE	35.00	Highest	$164,235	$37,379	$201,614
HUI-YUAN NELSON CHAN	MANAGING DIR OF COMMUNITY SVCS.	35.00	Highest	$168,900	$48,163	$217,063
SHERRY CAPILI	SENIOR PROJECT MANAGER	35.00	Highest	$149,255	$26,063	$175,318

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	No data	No data	No data	No data
2023	$10,895,181	$9,838,751	$27,979,358	$1,056,430
2022	$11,572,389	$8,834,611	$31,717,627	$2,737,778
2022	$11,572,389	$8,834,611	$31,717,627	$2,737,778
2021	$8,393,675	$7,310,019	$26,601,430	$1,083,656
2020	$7,119,666	$8,359,116	$25,182,567	$-1,239,450
2019	$6,175,319	$7,461,453	$22,984,747	$-1,286,134
2018	$6,188,295	$7,151,040	$20,253,421	$-962,745