Asia Institute Inc

Nonprofit profile at a glance

EIN
611107169
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Louisville, KY, USA
Phone
5029053883
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Cultural, Ethnic Awareness

Official website

Reported finances

Revenue
$388,567
Expenses
$452,291
Assets
$2,270,295
Liabilities
$296,584

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • ANNE MARIE V GRISANTI (PRESIDENT)
  • SARAVANAN MURUGAN (VICE PRESIDENT)
  • JOEL BUNO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JOEL BUNO (EXECUTIVE DIRECTOR): $85,745 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Asia institute-crane house, is a community resource that promotes understanding of asian cultures and heritage through education, outreach and the arts.

What it reported doing in 2024

Language programs- aich presents programs to teach americans asian languages and to teach asians to speak english. Aich established the teach in asia (tia) program in 1988 to send qualified american teachers to language programs- aich presents programs to teach americans asian languages and to teach asians to speak english. Aich established the teach in asia (tia) program in 1988 to send qualified american teachers to asia to conduct three-week summer training programs in conversational english and to introduce american culture to teachers in asia. Over the years aich has sent over 500 teachers to asia with this program. With renewed funding from the freeman foundation, the tia program renewed in summer 2023. Current sites are chiayi county, dapu, and singang taiwan. Additional sites include shanghai and jiujiang china.aich continues to fill the gap where our local educational systems lack offerings of asian languages. Aich, in conjunction with the university of louisville, has established a chinese and japanese language corner. Our language corner successfully launched in september of 2022. Language corner is designed to cater to adult language learners and local school students who are interested in language learning. The first stage focuses on chinese. The program includes special events (such as moon cake making, mahjong lessons and chinese cultural dance) and weekly chinese clubs - after school programs at various local elementary and middle schools. Our next phase will continue with chinese conversation engagement, but also will incorporate japanese language and special events. Our language corners have impacted over 330 participants.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 97% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 36
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.3%; rating input score 73
  • Program expense ratio: 52.6%; rating input score 53
  • Fundraising efficiency: $3.47 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -16.4%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 5.02; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 19%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: -2.9% per year; rating input score 0; 21st percentile among comparable filings
  • Revenue growth: -0.9% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 73.3% of revenue deployed · 52.6% of spending went to programs
  • Governance: 13 of 13 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $238K in reported program spending
  • Leadership: top reported pay $86K · 14 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • High — Financial Efficiency: Fundraising efficiency scored 15/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 17/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.