Asian Inc

Analysis

Asian Inc is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in February 1976, 50 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Asian Inc reported income of $4.3m and spending of $4.0m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.6m to $4.3m (+18%), an average of +4.3% a year. The sharpest change came in the year to December 2020, when income rose by 21%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Asian Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include Goodwill Industries of Wyoming Inc ($4.3m), Rotary Camps & Services of Traverse City ($4.3m) and Maryland Mep Inc ($4.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $348k (8.7% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $13.8m against liabilities of $7.5m, net assets of $6.3m. It reported 42 employees.