Asian American Business Development Center Inc

Nonprofit profile at a glance

EIN
133801336
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2129660100
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$1,112,591
Expenses
$1,082,910
Assets
$1,273,097
Liabilities
$242,119

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Scott Wang (President)

Highest reported compensation

  • John Wang (Chairman): $117,500 total reported compensation

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

Overview

Mission

To provide asian-american business owners with technical and professional assistance in developing marketing and financing strategies.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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 program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 87
  • Accountability: 59
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.3%; rating input score 59
  • Program expense ratio: 60%; rating input score 60
  • Fundraising efficiency: $7.86 raised per $1 spent on fundraising; rating input score 30; 30th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 24th 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: 28.6%; rating input score 29; 10th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.7%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 1.18; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 10.9%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 7.9% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: 18.2% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 59.3% of revenue deployed · 60% of spending went to programs
  • Governance: 2 of 7 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $650K in reported program spending
  • Leadership: top reported pay $118K · 7 people listed
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Financial Efficiency: Mission deployment rate scored 59/100.
  • High — Accountability: Independent voting board scored 29/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 30/100.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.