Foundation for Asian Pacific American Chamber of Commerce Inc

Nonprofit profile at a glance

EIN
204956912
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
3014041690
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$2,852
Expenses
$2,611
Assets
$261
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Dr Harpal Mangat (President)

People named in this filing

  • Larry Giammo (Director)
  • Dr John Young (Director)
  • Serina Moy (Director)

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

The Foundation for Asian Pacific American Chamber of Commerce (APACC) primarily serves the Asian American Community through charitable and educational events and functions.

What it reported doing in 2024

The Foundation for Asian Pacific American Chamber of Commerce, also known as FAPACC (IRC 501(C)(3)) served as a foundation for the Asian Pacific American Chamber of Commerce (APACC)(IRC 501(C)(6)). This APACC provides Asian American community business seminars and educational services related to the Asian American business community needs. The Foundation FAPACC serves as a foundation for the APACC, which is planned by the FAPACC Board of Directors. The only transaction in 2016 for FAPACC is the transfer of funds related to the APACC in the amount of $19,998 to the APACCs initiative.

Operating model

Revenue model
Grant-funded. 100% of the money available for current operations came from government grants.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 69
  • Accountability: 76
  • Sustainability: 48
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.5%; rating input score 92
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.5%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 0.1; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -17.2% per year; rating input score 0; 20th percentile among comparable filings
  • Revenue growth: -12.6% per year; rating input score 0; 28th percentile among comparable filings
  • Asset growth: -30% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 91.5% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $3K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 11 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • 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 — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • High — Growth: Asset growth scored 0/100.