Asian Art Foundation

Nonprofit profile at a glance

EIN
273340630
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Santa Clara, CA, USA
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$116,190
Expenses
$164,723
Assets
$979,204
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • FENG WANG (PRESIDENT)

People named in this filing

  • KEVIN GAO (DIRECTOR)
  • FENG WANG (PRESIDENT)
  • CATHY WEI (SECRETARY)

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 introduce classic chinese culture to the residents of san francisco bay area; to promote ancient asian arts to san francisco bay area.

What it reported doing in 2024

To introduce classic chinese culture to the residents of san francisco bay area; to promote anicent asian arts to san francisco bay area.

Operating model

Revenue model
Donor-supported. 77% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 94
  • Accountability: 63
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.1%; rating input score 97
  • Fundraising efficiency: Limited

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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -41.8%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 5.94; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 20.1% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 18.1% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 23.8% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.1% of spending went to programs
  • Governance: 2 of 3 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $160K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 7/100.