ASIAN-AMERICAN HOMEOWNERSHIP COUNSELING INC

EIN: 272195936 501(c)(3)

ROCKVILLE, MD

Total Revenue
$15,866
Total Expenses
$622,770
Total Assets
N/A
Net Assets
N/A
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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
2010
Legal Domicile
MD
Principal Officer
SONG HUTCHINS
Phone
3017607636
Tax Period
2019-01-01 to 2019-12-31

ASIAN-AMERICAN HOMEOWNERSHIP COUNSELING INC, founded in 2010, is a micro nonprofit that reported $16K in total revenue in fiscal year 2019. Revenue fell 97% from the prior year — a significant decline worth monitoring. Expenses of $623K exceeded revenue, resulting in a 3825% operating deficit.

Mission

AAHC WAS ESTABLISHED TO EMPOWER AND INSPIRE IMMIGRANT COMMUNITIES TO ACHIEVE AND MAINTAIN THE AMERICAN DREAM OF HOMEOWNERSHIP BY PROVIDING COUNSELING, EDUCATION, TOOLS, AND RESOURCES. AAHC INCREASES HOMEOWNERSHIP SUCCESS BY PLACING INDIVIDUALS ON THE ROAD TO FINANCIAL SELF-SUFFICIENCY. AAHC PROVIDES HOMEBUYER EDUCATION, FINANCIAL LITERACY EDUCATION, FORECLOSURE INTERVENTION AND DEFAULT MANAGEMENT EDUCATION, HOME MORTGAGE EDUCATION, AND ADVOCACY AND CHARITABLE WORK FOR ASIAN-AMERICANS, PACIFIC ISLANDERS AND OTHER UNDERSERVED COMMUNITIES.

Program Service Accomplishments

Program 1
Expenses: $613,125 Revenue: $7,309

SERVICED TOTAL OF 990 HOUSEHOLDS WITH FORECLOSURE PREVENTION & DEFAULT SERVICES, MONTHLY GROUP FIRST TIME HOMEBUYER EDUCATION CLASSES AND ONE-ON-ONE COUNSELING/COACHING ON PRE- & POST - PURCHASE...

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SERVICED TOTAL OF 990 HOUSEHOLDS WITH FORECLOSURE PREVENTION & DEFAULT SERVICES, MONTHLY GROUP FIRST TIME HOMEBUYER EDUCATION CLASSES AND ONE-ON-ONE COUNSELING/COACHING ON PRE- & POST - PURCHASE, CREDIT AND MONEY MANAGEMENT, STUDENT LOAN DEBTS, REVERSE MORTGAGE FOR SENIOR HOMEOWNERS IN MARYLAND, DC AND VIRGINIA.

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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 (2019)

Revenue Breakdown

Contributions & Grants $4,562
Program Service Revenue $6,407
Investment Income $3,995
Other Revenue $902
TOTAL REVENUE $15,866

Expense Breakdown

Grants Paid $0
Salaries & Benefits $126,395
Fundraising Expenses $0
Program Expenses $613,125
Other Expenses $496,375
TOTAL EXPENSES $622,770

Year-over-Year Comparison

2019 2018 Change
Revenue $15,866 $471,840 -1.0%
Expenses $622,770 $393,083 +0.6%
Net Income $-606,904 $78,757 -8.7%
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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Governance

Voting Members
6
Independent Members
5
Employees
3
Volunteers
35

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
4
$87,707
Total Directors
6
$87,707
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SONG HUTCHINS PRESIDENT/CEO 40.00
Officer Director
$87,707 $0 $87,707
SUSAN MEKENNEY CHAIRMAN 0.50
Officer Director
$0 $0 $0
SHANI ELSE SECRETARY 1.00
Officer Director
$0 $0 $0
JAE YOUNG SHIN TREASURER 0.50
Officer Director
$0 $0 $0
GRACIA DIVINA VALERA-JARAMILLO BOARD MEMBER 0.50
Director
$0 $0 $0
LARRY LA BOARD MEMBER 0.50
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
2019 $15,866 $622,770 No data $-606,904
2018 $471,840 $393,083 $622,944 $78,757
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