ASIAN AND PACIFIC ISLANDER AMERICA… - Form 990 Financial Data

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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

2003

Legal Domicile

Principal Officer

NOEL HARMON

Phone

2027150795

Tax Period

2023-07-01 to 2024-06-30

ASIAN AND PACIFIC ISLANDER AMERICAN SCHOLARSHIP FUND, founded in 2003, is a mid-sized nonprofit in the Education sector that reported $12.2M in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. Net assets of $34.7M represent 34 months of operating reserves.

Mission

OUR MISSION IS TO MAKE A DIFFERENCE IN THE LIVES OF APIA SCHOLARS BY PROVIDING THEM WITH RESOURCES THAT INCREASE THEIR ACCESS TO HIGHER EDUCATION WHICH SERVES AS THE FOUNDATION FOR THEIR FUTURE SUCCESS AND CONTRIBUTIONS TO A MORE VIBRANT AMERICA. OUR VISION IS TO SEE THAT OUR APIA SCHOLARS HAVE THE FINANCES AND RESOURCES NECESSARY TO CULTIVATE THEIR ACADEMIC, PERSONAL AND PROFESSIONAL SUCCESS REGARDLESS OF THEIR ETHNICITY, NATIONAL ORIGIN OR FINANCIAL MEANS.

Program Service Accomplishments

Program 1

Expenses: $6,816,083 Revenue: $0

COLLEGE ACCESS: APIA SCHOLARS MANAGES APIA SCHOLARSHIPS, THE GATES MILLENNIUM SCHOLARS/ASIAN PACIFIC ISLANDER AMERICANS FUND. THROUGH THESE SCHOLARSHIP PROGRAMS, APIA SCHOLARS HAS DISTRIBUTED MORE...

COLLEGE ACCESS: APIA SCHOLARS MANAGES APIA SCHOLARSHIPS, THE GATES MILLENNIUM SCHOLARS/ASIAN PACIFIC ISLANDER AMERICANS FUND. THROUGH THESE SCHOLARSHIP PROGRAMS, APIA SCHOLARS HAS DISTRIBUTED MORE THAN $150 MILLION IN COLLEGE SCHOLARSHIPS TO MORE THAN 8,600 DESERVING APIA SCHOLARS ACROSS THE COUNTRY AND IN THE PACIFIC ISLANDS. OUR FOCUS ON THOSE WHO ARE FROM LOW-INCOME FAMILIES AND ARE FIRST GENERATION COLLEGE STUDENTS AND OUR EMPHASIS ON MULTI-YEAR SCHOLARSHIPS REMOVES FINANCIAL BARRIERS WHILE PROMOTING DEGREE ATTAINMENT.

Program 2

Expenses: $1,942,008 Revenue: $0

STUDENT SUCCESS AND CAREER DEVELOPMENT: STUDENT SUCCESS PROGRAMS FOCUS ON REDUCING FINANCIAL BARRIERS TO COLLEGE COMPLETION FOR APIA SCHOLARS, WITH A PRIMARY FOCUS ON FIRST-TIME APIA SCHOLARS...

STUDENT SUCCESS AND CAREER DEVELOPMENT: STUDENT SUCCESS PROGRAMS FOCUS ON REDUCING FINANCIAL BARRIERS TO COLLEGE COMPLETION FOR APIA SCHOLARS, WITH A PRIMARY FOCUS ON FIRST-TIME APIA SCHOLARS RECIPIENTS. THROUGH DIFFERENT ACCESS POINTS, SCHOLARS ARE PROVIDED CONTINUOUS SUPPORT AND ENGAGEMENT WITH APIA SCHOLARS THROUGH THE FOLLOWING: BUILDING AN ENGAGED SCHOLAR COMMUNITY; PROVIDING PROACTIVE GUIDANCE TO SCHOLARS ON NAVIGATING FINANCIAL EXPERIENCES; PROVIDING INTERNSHIP AND CAREER RESOURCES TO HELP SCHOLARS ACCESS AND MAINTAIN FINANCIAL WELLNESS. EVENTS, WORKSHOPS, AND DIRECT SCHOLAR SUPPORT.

Program 3

Expenses: $1,057,879 Revenue: $0

BUILDING KNOWLEDGE: OUR RESEARCH PLACES SCHOLARS AT THE CENTER AND INFORMS POLICYMAKERS, HIGHER EDUCATION LEADERS, AND OTHER COMMUNITY STAKEHOLDERS OF OPPORTUNITY GAPS AND WAYS TO CLOSE THESE GAPS...

BUILDING KNOWLEDGE: OUR RESEARCH PLACES SCHOLARS AT THE CENTER AND INFORMS POLICYMAKERS, HIGHER EDUCATION LEADERS, AND OTHER COMMUNITY STAKEHOLDERS OF OPPORTUNITY GAPS AND WAYS TO CLOSE THESE GAPS AND TO IMPROVE STUDENT SUCCESS.

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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 $11,203,762

Program Service Revenue $0

Investment Income $1,037,359

Other Revenue $1,500

TOTAL REVENUE $12,242,621

Expense Breakdown

Grants Paid $5,975,109

Salaries & Benefits $4,012,169

Fundraising Expenses $879,826

Program Expenses $9,815,970

Other Expenses $3,211,539

TOTAL EXPENSES $13,198,817

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,242,621	$13,739,648	-0.1%
Expenses	$13,198,817	$13,353,566	0.0%
Net Income	$-956,196	$386,082	-3.5%

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

500

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

$936,426

Total Directors

Key Employees

$226,917

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFF LUONG	BOARD CHAIR	10.00	Officer Director	$0	$0	$0
NANCY LEE	VICE CHAIR	2.00	Officer Director	$0	$0	$0
WALLY SUPHAP	SECRETARY	2.00	Officer Director	$0	$0	$0
AIMEE MEHER-HOMJI	BOARD MEMBER	2.00	Director	$0	$0	$0
BILL MOSES	NOMINATIONS CHAIR	2.00	Director	$0	$0	$0
DOUG MURTHA	AUDIT CHAIR	2.00	Director	$0	$0	$0
DR ROWENA TOMANENG	BOARD MEMBER	2.00	Director	$0	$0	$0
EUGENE CHASIN	BOARD MEMBER	2.00	Director	$0	$0	$0
HANS YANG	BOARD MEMBER	2.00	Director	$0	$0	$0
J WEILI CHENG	DEVELOPMENT CHAIR	2.00	Director	$0	$0	$0
JACINTA TITIALI'I-ABBOTT	BOARD MEMBER	2.00	Director	$0	$0	$0
JASON WONG	FINANCE AND INVESTMENT CHAIR	2.00	Director	$0	$0	$0
JENNIFER J KANANIONAPUA PERU GARY	BOARD MEMBER	2.00	Director	$0	$0	$0
LINDSAY LEE AULANIKI'IKINA AH LOO	BOARD MEMBER	2.00	Director	$0	$0	$0
NIDHI MUNJAL	HR AND COMPENSATION CHAIR	2.00	Director	$0	$0	$0
POONEH FRACYON BUTLER	BOARD MEMBER	2.00	Director	$0	$0	$0
SCOTT LORETAN	BOARD MEMBER	2.00	Director	$0	$0	$0
SEFA AINA	BOARD MEMBER	2.00	Director	$0	$0	$0
WILLIAM CHO	BOARD MEMBER	2.00	Director	$0	$0	$0
NOEL HARMON	PRESIDENT & EXECUTIVE DIRECTOR	40.00	Officer	$469,144	$41,096	$510,240
MICHELLE COHENOUR	SVP AND CHIEF OF STAFF	40.00	Officer	$196,241	$19,109	$215,350
MICHELLE KIM	CFO	40.00	Officer	$194,489	$16,347	$210,836
JULIE AJINKYA SVP CHIEF	STRATEGY OFFICER (TERM 09/2023)	40.00	Key Emp	$220,074	$6,843	$226,917
STACY LEWIS	AVP OF DEVELOPMENT	40.00	Highest	$146,431	$33,525	$179,956
WENDY WONG	VP OF MARKETING AND COMMUNICATIONS	40.00	Highest	$150,463	$14,349	$164,812
CHRISTINA LAMBERT	AVP OF STUDENT SUCCESS	40.00	Highest	$124,146	$8,390	$132,536
MAVISH SANDHU SENIOR DIRECTOR	OF MARKETING AND COMMUNICATIONS	40.00	Highest	$101,684	$12,930	$114,614

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	No data	No data	No data	No data
2024	$12,242,621	$13,198,817	$40,710,620	$-956,196
2023	$13,739,648	$13,353,566	$39,856,314	$386,082
2022	$13,616,717	$12,514,448	$37,686,826	$1,102,269
2021	$39,460,532	$13,126,084	$36,602,135	$26,334,448
2020	$15,395,079	$14,637,354	$7,782,589	$757,725
2019	$16,263,692	$17,163,162	$11,330,880	$-899,470
2018	$19,280,867	$18,954,364	$7,579,213	$326,503

ASIAN AND PACIFIC ISLANDER AMERICAN SCHOLARSHIP FUND