THE ASIA SOCIETY

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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

1956

Legal Domicile

Principal Officer

KYUNG-WHA KANG

Phone

2122886400

Tax Period

2024-07-01 to 2025-06-30

THE ASIA SOCIETY, founded in 1956, is a mid-sized nonprofit in the International Affairs sector that reported $29.6M in total revenue in fiscal year 2024. Net assets of $107.4M represent 44 months of operating reserves.

Mission

THE SOCIETY IS AN INTERNATIONAL NONPROFIT, NONPARTISAN ORGANIZATION WHICH CONNECTS PEOPLE AND INSTITUTIONS IN ASIA AND THE WORLD TO BUILD UNDERSTANDING, ADDRESS CHALLENGES AND MAXIMIZE OPPORTUNITIES.

Program Service Accomplishments

Program 1

Expenses: $12,137,379 Revenue: $731,138

POLICY AND BUSINESS PROGRAM DIVISION - THE ASIA SOCIETY POLICY INSTITUTE HAS BEEN RANKED IN THE TOP 1% OF THINK TANKS AROUND THE WORLD BY THE UNIVERSITY OF PENNSYLVANIA'S THINK TANKS AND CIVIL...

POLICY AND BUSINESS PROGRAM DIVISION - THE ASIA SOCIETY POLICY INSTITUTE HAS BEEN RANKED IN THE TOP 1% OF THINK TANKS AROUND THE WORLD BY THE UNIVERSITY OF PENNSYLVANIA'S THINK TANKS AND CIVIL SOCIETY'S PROGRAM. WITH A PROBLEM-SOLVING MANDATE, THE ASIA SOCIETY POLICY INSTITUTE (ASPI) TACKLES MAJOR POLICY CHALLENGES NOW CONFRONTING THE ASIA-PACIFIC IN SECURITY, PROSPERITY, SUSTAINABILITY, AND THE DEVELOPMENT OF COMMON NORMS AND VALUES FOR THE REGION. POLICY WORK IS ALSO CARRIED OUT BY OUR CENTER ON U.S. CHINA RELATIONS AND OUR NEW YORK PUBLIC PROGRAMS DEPARTMENT. FOR MORE INFORMATION, SEE SCHEDULE O.

Program 2

Expenses: $5,758,148 Revenue: $251,868

ART AND CULTURAL PROGRAMS DIVISION - THE SOCIETY'S ART AND CULTURAL PROGRAMS DIVISION EXPLORES THE VITAL EXPRESSIONS OF DIVERSE ASIAN CULTURES THROUGH EXHIBITIONS, PERFORMANCES, FILMS, LECTURES, AND...

Program 3

Expenses: $1,914,833

COMMUNICATIONS DIVISION - THE SOCIETY PURSUES ITS MISSION TO EDUCATE THE PUBLIC THROUGH INNOVATIVE ONLINE PROGRAMMING ACTIVITIES. THE WORK OF THE ONLINE OUTREACH DIVISION INCLUDES CONTRIBUTIONS FROM HEADQUARTERS AS WELL AS OUR SIXTEEN OTHER CENTERS AND BRANCHES AROUND THE WORLD. IT OVERSEES THE WEBSITE WHICH PROVIDES INFORMATION ABOUT ASIA SOCIETY PROGRAMS AS WELL AS CONTENT GENERATED SPECIFICALLY FOR THE SITE ON TOPICS OF CURRENT INTEREST. FOR MORE INFORMATION, SEE SCHEDULE O.

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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 (2024)

Revenue Breakdown

Contributions & Grants $18,590,059

Program Service Revenue $1,038,686

Investment Income $9,079,764

Other Revenue $896,878

TOTAL REVENUE $29,605,387

Expense Breakdown

Grants Paid $1,065,897

Salaries & Benefits $17,796,957

Fundraising Expenses $2,670,217

Program Expenses $23,799,002

Other Expenses $13,423,452

TOTAL EXPENSES $32,286,306

Year-over-Year Comparison

	2024	2023	Change
Revenue	$29,605,387	$30,876,719	0.0%
Expenses	$32,286,306	$34,134,981	-0.1%
Net Income	$-2,680,919	$-3,258,262	-0.2%

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

Employees

215

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

$1,562,528

Total Directors

$521,589

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KYUNG-WHA KANG	PRESIDENT & CEO	40.00	Officer Director	$511,089	$10,500	$521,589
HAMID BIGLARI	VICE CHAIR	1.00	Officer Director	$0	$0	$0
CHAN HENG CHEE	CO-CHAIR	1.00	Officer Director	$0	$0	$0
BETSY Z COHEN	VICE CHAIR & SECRETARY	1.00	Officer Director	$0	$0	$0
ROBERT NIEHAUS	TREASURER	1.00	Officer Director	$0	$0	$0
JOHN L THORNTON	CO-CHAIR	1.00	Officer Director	$0	$0	$0
LULU C WANG	VICE CHAIR	1.00	Officer Director	$0	$0	$0
NICOLAS AGUZIN	TRUSTEE	1.00	Director	$0	$0	$0
HRH TURKI AL FAISAL	TRUSTEE	1.00	Director	$0	$0	$0
EDWARD R ALLEN III	TRUSTEE	1.00	Director	$0	$0	$0
ISAAC APPLBAUM	TRUSTEE	1.00	Director	$0	$0	$0
MOHIT ASSOMULL	TRUSTEE	1.00	Director	$0	$0	$0
NICOLAS BERGGRUEN	TRUSTEE	1.00	Director	$0	$0	$0
J FRANK BROWN	TRUSTEE	1.00	Director	$0	$0	$0
RABBI ANGELA BUCHDAHL	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL S CHAE	TRUSTEE	1.00	Director	$0	$0	$0
ALBERT CHAO	TRUSTEE	1.00	Director	$0	$0	$0
PURNENDU CHATTERJEE	TRUSTEE	1.00	Director	$0	$0	$0
DUNCAN CLARK	TRUSTEE	1.00	Director	$0	$0	$0
HENRY CORNELL	TRUSTEE	1.00	Director	$0	$0	$0
FREDERICK M DEMOPOULOS	TRUSTEE	1.00	Director	$0	$0	$0
SERGE DUMONT	TRUSTEE - END 12/24	1.00	Director	$0	$0	$0
J MICHAEL EVANS	TRUSTEE	1.00	Director	$0	$0	$0
STUART FULLER	TRUSTEE - EFFECTIVE 04/25	1.00	Director	$0	$0	$0
JAMSHYD GODREJ	TRUSTEE	1.00	Director	$0	$0	$0
MARTYN GOOSSEN	TRUSTEE - EFFECTIVE 10/24	1.00	Director	$0	$0	$0
FILIPPO GORI	TRUSTEE	1.00	Director	$0	$0	$0
EVAN G GREENBERG	TRUSTEE - END 01/25	1.00	Director	$0	$0	$0
SUSAN S HAKKARAINEN	TRUSTEE	1.00	Director	$0	$0	$0
GEORGE G HICKS	TRUSTEE	1.00	Director	$0	$0	$0
DORIS MAGSAYSAY HO	TRUSTEE	1.00	Director	$0	$0	$0
W BRADFORD HU	TRUSTEE	1.00	Director	$0	$0	$0
STEPHANIE HUI	TRUSTEE	1.00	Director	$0	$0	$0
OMAR ISHRAK	TRUSTEE	1.00	Director	$0	$0	$0
SANGITA JINDAL	TRUSTEE	1.00	Director	$0	$0	$0
K S SONNY KALSI	TRUSTEE	1.00	Director	$0	$0	$0
ADRIAN T KELLER	TRUSTEE	1.00	Director	$0	$0	$0
JOHN KEOGH	TRUSTEE - EFFECTIVE 04/25	1.00	Director	$0	$0	$0
MAHMOOD J KHIMJI	TRUSTEE	1.00	Director	$0	$0	$0
CHRIS KOJIMA	TRUSTEE - EFFECTIVE 10/24	1.00	Director	$0	$0	$0
JAMES KONDO	TRUSTEE	1.00	Director	$0	$0	$0
KUO CHUAN KC KUNG	TRUSTEE	1.00	Director	$0	$0	$0
CHONG-MOON LEE	TRUSTEE	1.00	Director	$0	$0	$0
SEUNG-YOON SY LEE	TRUSTEE	1.00	Director	$0	$0	$0
JOSEPHINE LINDEN	TRUSTEE	1.00	Director	$0	$0	$0
IDA LIU	TRUSTEE	1.00	Director	$0	$0	$0
JEAN LIU	TRUSTEE	1.00	Director	$0	$0	$0
GEOFF MARTHA	TRUSTEE	1.00	Director	$0	$0	$0
ASHEET MEHTA	TRUSTEE	1.00	Director	$0	$0	$0
VALI NASR	TRUSTEE - EFFECTIVE 10/24	1.00	Director	$0	$0	$0
JOHN D NEGROPONTE	TRUSTEE	1.00	Director	$0	$0	$0
THIERRY PORTE	TRUSTEE	1.00	Director	$0	$0	$0
PHILIP QU	TRUSTEE	1.00	Director	$0	$0	$0
EMILY K RAFFERTY	TRUSTEE	1.00	Director	$0	$0	$0
RAJ RAO	TRUSTEE	1.00	Director	$0	$0	$0
STEPHEN RIADY	TRUSTEE	1.00	Director	$0	$0	$0
GARY RIESCHEL	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES P ROCKEFELLER	TRUSTEE	1.00	Director	$0	$0	$0
NICOLAS ROHATYN	TRUSTEE	1.00	Director	$0	$0	$0
STEPHEN A SCHWARZMAN	TRUSTEE	1.00	Director	$0	$0	$0
NEIL SHEN	TRUSTEE	1.00	Director	$0	$0	$0
KATIE SOO	TRUSTEE	1.00	Director	$0	$0	$0
JANE JIE SUN	TRUSTEE	1.00	Director	$0	$0	$0
Y PING SUN	TRUSTEE - END 07/24	1.00	Director	$0	$0	$0
VIVIENNE TAM	TRUSTEE	1.00	Director	$0	$0	$0
JESSICA TAN	TRUSTEE - EFFECTIVE 04/25	1.00	Director	$0	$0	$0
ERNIE THRASHER	TRUSTEE	1.00	Director	$0	$0	$0
MARK E TUCKER	TRUSTEE	1.00	Director	$0	$0	$0
EUNICE ZEHNDER-LAI	TRUSTEE - END 08/24	1.00	Director	$0	$0	$0
JAMES D ZIRIN	TRUSTEE	1.00	Director	$0	$0	$0
FERNANDO ZOBEL DE AYALA	TRUSTEE	1.00	Director	$0	$0	$0
DEBRA EISENMAN	EVP & CHIEF OPERATING OFFICER	40.00	Officer	$367,961	$67,524	$435,485
SHANE WILLIAMS-NESS	CHIEF DEVELOPMENT OFFICER	40.00	Officer	$270,075	$47,833	$317,908
KEVIN HOGAN	CHIEF FINANCIAL OFFICER	40.00	Officer	$270,762	$16,784	$287,546
WENDY CUTLER	VP & MD, WASHINGTON DC OFFICE	40.00	Highest	$324,862	$21,115	$345,977
DANIEL RUSSEL	VP, INT'L SEC & DIPLOMACY - END 6/25	40.00	Highest	$325,088	$20,129	$345,217
ORVILLE SCHELL	VP, CTR US-CHINA REL/ARTHUR ROSS DIR	40.00	Highest	$310,058	$35,066	$345,124
YASUFUMI NAKAMORI	VP, ARTS & CULTURE - END 4/25	40.00	Highest	$264,311	$21,000	$285,311
AALOK KANANI	CHIEF DIGITAL & COMM. OFFICER	40.00	Highest	$278,199	$23,939	$302,138

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	$29,605,387	$32,286,306	$123,532,820	$-2,680,919
2024	$30,876,719	$34,134,981	$126,639,988	$-3,258,262
2023	$30,405,832	$32,109,391	$122,919,115	$-1,703,559
2022	$30,248,305	$30,722,591	$123,272,284	$-474,286
2021	$32,268,981	$28,881,039	$142,731,939	$3,387,942
2020	$31,036,163	$31,588,582	$122,806,762	$-552,419
2019	$35,257,295	$32,724,478	$124,467,823	$2,532,817
2018	$37,534,946	$30,855,209	$119,347,039	$6,679,737