Asian American Society of Central Virginia

Nonprofit profile at a glance

EIN
311600324
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2020
Location
Richmond, VA, USA
Phone
8045123398
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Cultural, Ethnic Awareness

Reported finances

Revenue
$95,166
Expenses
$66,016
Assets
$183,586
Liabilities
$21,219

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

Leadership & pay

41 people listed

People named in this filing

  • AMRIT KHADKA (Board Member)
  • ANGIE SEWSEN KUA (Board Member)
  • CATHY PHAM (Board Member)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To promote unity, harmony, and diversity in the central Virginia region. Through various cultural celebrations and active participation in various community events and initiatives, the society raises

What it reported doing in 2024

Asian american celebration an event that is held on a yearly basis at the greater richmond convention center in may. Celebrates diverse asian american heritage in the greater richmond metropolitan area. The event provides an excellent opportunity for all asian member communities to display their own cultural artifacts, traditional clothes, handmade replicas and the like to be put on display in each communitys cultural booth. Each member community also has a hands-on booth as weel, which provides a range of fun but educational games for children.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 78
  • Accountability: 58
  • Sustainability: 58
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.3%; rating input score 64
  • Program expense ratio: 92.6%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 81.8%; rating input score 82; 3rd 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; 64th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 30.6%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 2.78; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -7% per year; rating input score 0; 34th percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 64.3% of revenue deployed · 92.6% of spending went to programs
  • Governance: 39 of 39 board members independent · 0 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $61K in reported program spending
  • Leadership: top reported pay $0 · 41 people listed
  • Consistency: 11 of 16 current checks pass · 5 findings to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX AllOtherExpenses column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX ConferencesMeetings column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.