Grand Rapids Asian-Pacific Foundation

EIN: 831870232 501(c)(3) Arts, Culture & Humanities

Grand Rapids, MI

Total Revenue
$1,822
Total Expenses
$50,500
Total Assets
$57,045
Net Assets
$56,018
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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
2018
Legal Domicile
MI
Tax Period
2023-01-01 to 2023-12-31

Grand Rapids Asian-Pacific Foundation, founded in 2018, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $2K in total revenue in fiscal year 2023. Revenue fell 98% from the prior year — a significant decline worth monitoring. Expenses of $50K exceeded revenue, resulting in a 2672% operating deficit.

Mission

to bring cultural awareness, resources to support AAPI Talent and businesses to thrive today, tomorrow, and forever.

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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 (2023)

Revenue Breakdown

Contributions & Grants $187,397
Program Service Revenue $0
Investment Income $0
Other Revenue $-185,575
TOTAL REVENUE $1,822

Expense Breakdown

Grants Paid $325
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $325
Other Expenses $50,175
TOTAL EXPENSES $50,500

Year-over-Year Comparison

2023 2022 Change
Revenue $1,822 $79,441 -1.0%
Expenses $50,500 $20,105 +1.5%
Net Income $-48,678 $59,336 -1.8%
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

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Governance

Voting Members
4
Independent Members
4
Employees
N/A
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
4
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kavy Lenon Secretary 0.00
Officer
$0 $0 $0
Ace Marasigan Executive Director 0.00
Officer
$0 $0 $0
Manoj Mulki Board President 0.00
Officer
$0 $0 $0
May Thao Treasurer 0.00
Officer
$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 $1,822 $50,500 $57,045 $-48,678
2022 $79,441 $20,105 $108,410 $59,336
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