VIRGINIA ASIAN AMERICAN STORE OWNERS ASSOCIATION INC

EIN: 452064818 Community Improvement

POWHATAN, VA

Total Revenue
$425,714
Total Expenses
$420,753
Total Assets
$284,678
Net Assets
$284,678
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
VA
Principal Officer
MINESH PATEL
Phone
7572267771
Tax Period
2023-01-01 to 2023-12-31

VIRGINIA ASIAN AMERICAN STORE OWNERS ASSOCIATION INC, founded in 2010, is a small nonprofit in the Community Improvement sector that reported $269K in total revenue in fiscal year 2018. The organization ran a surplus of $74K, a strong 27% operating margin.

Mission

To constantly strive to meet or exceed our customers needs and expectations of price, service, and selection. To do this end, we will perform periodic reviews of the marketplace to improve our offerings.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $425,714
Investment Income $0
Other Revenue $0
TOTAL REVENUE $425,714

Expense Breakdown

Grants Paid $0
Salaries & Benefits $16,960
Fundraising Expenses $323,414
Other Expenses $386,293
TOTAL EXPENSES $420,753

Year-over-Year Comparison

2023 2022 Change
Revenue $425,714 $343,810 +0.2%
Expenses $420,753 $417,680 +0.0%
Net Income $4,961 $-73,870 -1.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
1
Volunteers
20

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
$0
Total Directors
19
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MINESH PATEL PRESIDENT 5.00
Officer Director
$0 $0 $0
ASHOK PATEL EXECUTIVE BOARD MEMBER 1.00
Officer Director
$0 $0 $0
ATUL PATEL EXECUTIVE BOARD MEMBER 1.00
Officer Director
$0 $0 $0
VIPUL PATEL EXECUTIVE BOARD MEMBER 1.00
Officer Director
$0 $0 $0
RAJ PATEL EXECUTIVE BOARD MEMBER 1.00
Officer Director
$0 $0 $0
MANAN SHAH EXECUTIVE BOARD MEMBER 1.00
Director
$0 $0 $0
PAUL PATEL EXECUTIVE BOARD MEMBER 1.00
Director
$0 $0 $0
SHIV PATEL EXECUTIVE BOARD MEMBER 1.00
Director
$0 $0 $0
AL PATEL EXECUTIVE BOARD MEMBER 1.00
Director
$0 $0 $0
NIRAV SHAH BOARD MEMBER 1.00
Director
$0 $0 $0
BINDESH SHAH BOARD MEMBER 1.00
Director
$0 $0 $0
BRIJESH PATEL BOARD MEMBER 1.00
Director
$0 $0 $0
SURESH PATEL BOARD MEMBER 1.00
Director
$0 $0 $0
ATUL PATEL BOARD MEMBER 1.00
Director
$0 $0 $0
SANJAY PATEL BOARD MEMBER 1.00
Director
$0 $0 $0
JATIN SHAH BOARD MEMBER 1.00
Director
$0 $0 $0
MINESH PATEL BOARD MEMBER 1.00
Director
$0 $0 $0
DINAL PATEL BOARD MEMBER 1.00
Director
$0 $0 $0
KRITESH PATEL BOARD MEMBER 1.00
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
2024 No data No data No data No data
2023 $425,714 $420,753 $284,678 $4,961
2022 $343,810 $417,680 $279,871 $-73,870
2021 $315,597 $286,449 $353,741 $29,148
2020 $89,638 $91,255 $324,623 $-1,617
2019 $329,824 $236,839 $326,056 $92,985
2018 $268,747 $194,953 $233,071 $73,794
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