Asian Economic Development Association

Analysis

Asian Economic Development Association is a registered charity in United States, based in Saint Paul, MN. It received its IRS tax-exemption ruling in July 1999, 27 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Asian Economic Development Association reported income of $1.7m and spending of $881k, leaving 47% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.7m (+66%), an average of +14% a year. The sharpest change came in the year to December 2023, when income rose by 106%. Over the whole period it spent 74% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Asian Economic Development Association sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within MN. Charities of a similar size with the same main cause include Village of Healing ($1.7m), Pipe Industry Education & Training Fund ($1.7m) and Ithaca Downtown Business Improvement District Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $148k (17% of expenses). Other salaries and wages came to $162k. At year end it held assets of $2.5m against liabilities of $148k, net assets of $2.3m. It reported 7 employees.