AAPI EQUITY ALLIANCE (EIN 710879827) - Form 990 Financial Analysis & Trantor Score

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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

1976

Legal Domicile

Principal Officer

MANJUSHA P KULKARNI

Phone

2132390300

Tax Period

2024-07-01 to 2025-06-30

AAPI EQUITY ALLIANCE, founded in 1976, is a community nonprofit in the Human Services sector that reported $8.8M in total revenue in fiscal year 2024. Revenue fell 56% from the prior year — a significant decline worth monitoring. Expenses of $8.5M left a modest 4% surplus.

Mission

AAPI EQUITY ALLIANCE IS A COALITION OF COMMUNITY-BASED ORGANIZATIONS THAT ADVOCATES FOR THE RIGHTS AND NEEDS OF THE ASIAN AND PACIFIC ISLANDER (API) COMMUNITY IN THE GREATER LOS ANGELES AREA, WITH PARTICULAR FOCUS ON LOW-INCOME, IMMIGRANT, REFUGEE AND OTHER VULNERABLE POPULATIONS.

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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 $8,661,341

Program Service Revenue $0

Investment Income $103,075

Other Revenue $12,925

TOTAL REVENUE $8,777,341

Expense Breakdown

Grants Paid $2,800

Salaries & Benefits $2,058,358

Fundraising Expenses $144,036

Program Expenses $7,812,977

Other Expenses $6,391,644

TOTAL EXPENSES $8,452,802

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,777,341	$19,869,989	-0.6%
Expenses	$8,452,802	$19,172,905	-0.6%
Net Income	$324,539	$697,084	-0.5%

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

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

Volunteers

N/A

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

$391,522

Total Directors

$241,087

Key Employees

$204,504

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RACHELLE ARIZMENDI	PRESIDENT	3.00	Officer Director	$0	$0	$0
LINDA AKUTAGAWA	BOARD MEMBER	2.00	Director	$0	$0	$0
GRANT SUNOO	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
MANJUSHA KULKARNI	EXECUTIVE DIRECTOR	40.00	Officer Director	$224,463	$16,624	$241,087
SHAKEEL SYED	TREASURER	2.00	Officer Director	$0	$0	$0
KIMMY MANIQUIS	SECRETARY	2.00	Officer Director	$0	$0	$0
ESTELLA OWOIMAHA-CHURCH	BOARD MEMBER	2.00	Director	$0	$0	$0
EUNICE SONG	BOARD MEMBER	2.00	Director	$0	$0	$0
DARIN TOKUNAGA	DIRECTOR OF FINANCE AND AD	40.00	Officer	$143,000	$7,435	$150,435
NORBERT K TAN	DEPUTY DIRECTOR	40.00	Key Emp	$195,422	$9,082	$204,504
KIRAN BHALLA	PROJECT MANAGER	40.00	Highest	$128,375	$12,734	$141,109
CANDICE CHO	MANAGING DIRECTOR OF POLIC	40.00	Highest	$143,000	$13,045	$156,045
HOANG NYUGEN	DIRECTOR OF EXTERNAL AFFAI	40.00	Highest	$125,260	$11,298	$136,558
MICHELLE WONG	MANAGING DIRECTOR OF PROGR	40.00	Highest	$143,000	$5,720	$148,720

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	$8,777,341	$8,452,802	$5,268,460	$324,539
2024	$19,869,989	$19,172,905	$5,299,025	$697,084
2023	$6,137,288	$6,187,972	$3,066,246	$-50,684
2022	$4,392,434	$4,511,104	$3,355,495	$-118,670
2021	$3,638,183	$2,473,214	$2,207,585	$1,164,969
2020	$575,638	$407,938	$1,002,849	$167,700
2019	$311,444	$174,091	$299,029	$137,353
2018	$90,839	$132,182	$146,522	$-41,343

AAPI EQUITY ALLIANCE