ASIAN PACIFIC FUND

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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

1993

Legal Domicile

Principal Officer

CAROLYN WANG KONG

Phone

4153959985

Tax Period

2023-01-01 to 2023-12-31

ASIAN PACIFIC FUND, founded in 1993, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $4.9M in total revenue in fiscal year 2023. Revenue surged 94% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.7M, a strong 35% operating margin.

Mission

TO STRENGTHEN THE ASIAN AND PACIFIC ISLANDER COMMUNITY IN THE BAY AREA BY INCREASING PHILANTHROPY AND SUPPORTING THE ORGANIZATIONS THAT SERVE OUR MOST VULNERABLE COMMUNITY MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $1,994,018

GRANTS AND SCHOLARSHIPS TO NON-PROFIT ORGANIZATIONS SERVING THE BAY AREA'S MOST VULNERABLE ASIAN AND PACIFIC ISLANDERS - ASIAN PACIFIC FUND DISTRIBUTED $1,275,668.72 IN GRANTS TO ITS AFFILIATES...

GRANTS AND SCHOLARSHIPS TO NON-PROFIT ORGANIZATIONS SERVING THE BAY AREA'S MOST VULNERABLE ASIAN AND PACIFIC ISLANDERS - ASIAN PACIFIC FUND DISTRIBUTED $1,275,668.72 IN GRANTS TO ITS AFFILIATES. $196,950 CAME FROM DONOR ADVISED FUNDS TO A DIVERSE GROUP OF ASIAN ORGANIZATIONS IN THE BAY AREA AND OTHER NON-PROFIT ORGANIZATIONS. THESE GRANTS SUPPORTED CAPACITY BUILDING, LEADERSHIP DEVELOPMENT, CIVIC ENGAGEMENT, FUNDRAISING, TECHNOLOGY AND INFRASTRUCTURE. THE FUND ALSO DISTRIBUTED $168,667 IN SCHOLARSHIPS TO 58 STUDENTS, ALL SUPPORTED BY INDIVIDUAL DONORS.

Program 2

Expenses: $230,424

SERVICES FOR AFFILIATE ORGANIZATIONS - THIS INCLUDES HELPING 90+ SAN FRANCISCO BAY AREA ORGANIZATIONS WITH TRAININGS, INFORMATION, CONSULTATIONS, AND WORKSHOPS TO STRENGTHEN THEIR ORGANIZATIONAL...

SERVICES FOR AFFILIATE ORGANIZATIONS - THIS INCLUDES HELPING 90+ SAN FRANCISCO BAY AREA ORGANIZATIONS WITH TRAININGS, INFORMATION, CONSULTATIONS, AND WORKSHOPS TO STRENGTHEN THEIR ORGANIZATIONAL CAPACITY IN AREAS SUCH AS FUND DEVELOPMENT, DATA MANAGEMENT, PROGRAM EXPANSION, AND SUCCESSION PLANNING. ALSO, THIS INCLUDES REGULAR OUTREACH TO POTENTIAL DONORS TO SHED LIGHT ON THE NEEDS OF OUR AFFILIATE NONPROFIT ORGANIZATIONS.

Program 3

Expenses: $221,376 Revenue: $6,950

API SUMMIT - THE EVENT BROUGHT TOGETHER 138 FOUNDATION, BUSINESS, MEDIA AND GOVERNMENT LEADERS TO DISCUSS AND ADDRESS THE EMERGING NEEDS OF ASIANS AND PACIFIC ISLANDERS IN THE BAY AREA.

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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 $4,177,405

Program Service Revenue $6,950

Investment Income $880,460

Other Revenue $-135,435

TOTAL REVENUE $4,929,380

Expense Breakdown

Grants Paid $1,760,536

Salaries & Benefits $992,604

Fundraising Expenses $292,733

Program Expenses $2,474,448

Other Expenses $447,845

TOTAL EXPENSES $3,200,985

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,929,380	$2,544,907	+0.9%
Expenses	$3,200,985	$4,661,512	-0.3%
Net Income	$1,728,395	$-2,116,605	-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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$344,908

Total Directors

Key Employees

$152,224

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOM COLE	CHAIR	1.50	Officer Director	$0	$0	$0
NELSON ISHIYAMA	TREASURER	1.50	Officer Director	$0	$0	$0
EMERALD YEH	SECRETARY	1.50	Officer Director	$0	$0	$0
NEEL CHATTERJEE	DIRECTOR	0.50	Director	$0	$0	$0
STEVE CHEN	DIRECTOR	0.50	Director	$0	$0	$0
KATHY CHOU	DIRECTOR	0.50	Director	$0	$0	$0
PETER CHUNG	DIRECTOR	0.50	Director	$0	$0	$0
JAN KANG	DIRECTOR	0.50	Director	$0	$0	$0
ROSALYN CHEN	DIRECTOR	0.50	Director	$0	$0	$0
MARGARET LAPIZ	DIRECTOR	0.50	Director	$0	$0	$0
MICHELE LAU	DIRECTOR	0.50	Director	$0	$0	$0
RAJ MATHAI	DIRECTOR	0.50	Director	$0	$0	$0
CAROLYN WANG KONG	PRESIDENT & EXECUTIVE DIRECTOR	40.00	Officer	$271,000	$0	$271,000
MARYANN TREBLE	DIRECTOR OF FINANCE & OPERATIONS	40.00	Officer	$73,908	$0	$73,908
GURPREET TUNG	DIRECTOR OF DEVELOPMENT	40.00	Key Emp	$152,224	$0	$152,224

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	$4,929,380	$3,200,985	$24,282,548	$1,728,395
2022	$2,544,907	$4,661,512	$20,898,995	$-2,116,605
2021	$16,047,288	$7,339,701	$25,769,246	$8,707,587
2020	$2,055,360	$2,534,045	$16,354,286	$-478,685
2019	$1,884,677	$2,657,052	$15,686,867	$-772,375
2018	$3,420,947	$1,985,429	$14,711,745	$1,435,518