Asian and Pacific Islander American Scholarship Fund

Nonprofit profile at a glance

EIN
571192973
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2027150795
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$11,118,146
Expenses
$13,035,787
Assets
$41,615,294
Liabilities
$6,569,346

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

Leadership & pay

27 people listed

Executive titles in this filing

  • NOEL HARMON (PRESIDENT & EXECUTIVE DIRECTOR)

Highest reported compensation

  • NOEL HARMON (PRESIDENT & EXECUTIVE DIRECTOR): $551,849 total reported compensation
  • MICHELLE COHENOUR (COO): $326,439 total reported compensation
  • MICHELLE KIM (CFO): $320,206 total reported compensation

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

Overview

Mission

Our mission is to make a difference in the lives of apia scholars by providing them with resources that increase their access to higher education which serves as the foundation for their future success and contributions to a more vibrant america. Our vision is to see that our apia scholars have the finances and resources necessary to cultivate their academic, personal and professional success regardless of their ethnicity, national origin or financial means.

What it reported doing in 2024

Student college to career success: student success programs reduce financial barriers to college completion and support college-to-career outcomes for apia scholars. Programs provide focused support through community engagement, guidance on managing financial challenges, and internship and career development programming to promote post-college success. Services are delivered through structured programs, workshops, events, and direct scholar support.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 62% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 87
  • Accountability: 95
  • Sustainability: 34
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.7%; rating input score 94
  • Program expense ratio: 74.8%; rating input score 75
  • Fundraising efficiency: $7.8 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -17.2%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 3.19; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 64; 64th percentile among comparable filings
  • Officer compensation ratio: 16.3%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -7.6% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -3.4% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 20.5% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 93.7% of revenue deployed · 74.8% of spending went to programs
  • Governance: 19 of 19 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $9.8M in reported program spending
  • Leadership: top reported pay $552K · 27 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $211K reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 14 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 31/100.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 7/100.