Asian Pacific Fund

Nonprofit profile at a glance

EIN
943201522
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
San Francisco, CA, USA
Phone
4153959985
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Philanthropy, Charity, Voluntarism Promotion

Official website

Reported finances

Revenue
$3,649,188
Expenses
$3,448,378
Assets
$25,698,240
Liabilities
$114,709

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

Leadership & pay

17 people listed

Executive titles in this filing

  • CAROLYN WANG KONG (PRESIDENT & EXECUTIVE DIRECTOR)

Highest reported compensation

  • CAROLYN WANG KONG (PRESIDENT & EXECUTIVE DIRECTOR): $246,000 total reported compensation
  • GURPREET TUNG (DIRECTOR OF DEVELOPMENT): $165,240 total reported compensation
  • MARYANN TREBLE (DIRECTOR OF FINANCE & OPERATIONS): $140,961 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 uplift bay area asian americans, native hawaiians, and pacific islanders (aanhpis) by mobilizing resources and amplifying our voices to drive positive change and create an inclusive thriving society.

What it reported doing in 2024

General programs - apf offers grants and services to nonprofits nationally to support and improve educational outcomes, language access, and increase civic engagement. In 2024, the fund hosted trainings online and in person on the topics of strategic communications, fundraising, executive transitions, and nonprofit finance.

Operating model

Revenue model
Donor-supported. 68% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 66% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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: 78
  • Transparency & Controls: 76
  • Accountability: 95
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.5%; rating input score 84
  • Program expense ratio: 78.4%; rating input score 78
  • Fundraising efficiency: $12.11 raised per $1 spent on fundraising; rating input score 44; 44th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.3%; rating input score 98; 35th 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; 63rd 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: 5.5%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 7.45; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 89; 89th percentile among comparable filings
  • Officer compensation ratio: 20%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 8.2% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 6.5% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 84.5% of revenue deployed · 78.4% of spending went to programs
  • Governance: 13 of 13 board members independent · 8 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $2.7M in reported program spending
  • Leadership: top reported pay $246K · 17 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 10 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 46 filed money-flow records
  • Related organizations: 42 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.

Key Signals

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

  • Moderate — Financial Efficiency: Fundraising efficiency scored 44/100.
  • Review — Sustainability: Operating margin scored 52/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.