Overview
What is Quincy Asian Resources Inc?
Quincy Asian Resources Inc, based in Quincy, Massachusetts, serves the immigrant community, primarily Asians and those with low income, residing in Quincy and surrounding South Shore areas. Their mission is to enhance the social, cultural, economic, and civic lives of immigrants and their families, benefitting both Quincy and neighboring communities. They achieve this through collaborations and partnerships, providing culturally competent services such as workforce development, adult education programs, youth development, cultural events, and information and referrals to public or community organizations. With a team of 35 dedicated individuals, Quincy Asian Resources Inc evolves to meet the needs of a rapidly growing immigrant population, which makes Quincy the largest per capita in Massachusetts, followed by Boston and Malden.
Official website here: www.quincyasianresources.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 93% - Four-Star out of Four Star rating
Quincy Asian Resources Inc has achieved a four-star rating from Charity Navigator, indicating a high level of accountability and transparency. The organization excels in various areas, including maintaining an independent board, with all 13 members meeting the criteria for independence. This strong governance structure is complemented by excellent financial oversight, evidenced by perfect scores in areas such as their audit committee and the absence of material asset diversions.
Financially, Quincy Asian Resources demonstrates effective management with an impressive program expense ratio of 81.86%, indicating that a significant portion of their budget directly supports their programs. Their fundraising efficiency is also commendable, with only $0.11 spent to raise each dollar, showcasing their effective fundraising practices. However, their working capital ratio of 0.39 years may suggest some limitations in liquidity, which could impact their financial stability over time.
Overall, Quincy Asian Resources Inc stands out for its strong governance and financial practices while showing commitment to its mission. The organization’s high program expense ratio reflects a focus on service delivery, although attention to liquidity might enhance their operational resilience.
This AI summary has been generated from information found on Charity Navigator.
Is Quincy Asian Resources Inc legitimate?
Quincy Asian Resources Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Quincy Asian Resources Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $187,068
Professional Fundraising Fees: $55,700
Other Salaries and Wages: $739,793
For more financial information, click here
Official website here: www.quincyasianresources.org
What is the mission statement of Quincy Asian Resources Inc?
Quincy Asian Resources Inc's mission is centered around enhancing the social, cultural, economic, and civic lives of immigrants and their families. To achieve this, the organization fosters collaborations and partnerships, providing culturally competent services such as workforce development, adult education programs, youth development, and cultural events. They also offer information and referrals to public or community organizations. The goal is to positively impact not only the immigrants and their families but also the surrounding communities.
Official website here: www.quincyasianresources.org
Who is the CEO of Quincy Asian Resources Inc?
Philip Chong is the President And Ceo of Quincy Asian Resources Inc. The CEO's salary of Quincy Asian Resources Inc is $183,326 and their total compensation is $192,877.
Official website here: www.quincyasianresources.org
What is the revenue of Quincy Asian Resources Inc?
Quincy Asian Resources Inc's revenue in 2022 was $4,579,576.
Official website here: www.quincyasianresources.org
Who are the executives of Quincy Asian Resources Inc and what are their salaries?
The average compensation at Quincy Asian Resources Inc during 2022 was $26,482. There are 35 employees and 15 volunteers at Quincy Asian Resources Inc.
Here are 19 key members and their salaries (Quincy Asian Resources Inc's CEO's salary is $183,326 and their total compensation is $192,877):
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Official website here: www.quincyasianresources.org
Where can I find the form 990 for Quincy Asian Resources Inc?
Quincy Asian Resources Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.quincyasianresources.org
Learn more at the official website: www.quincyasianresources.org
Mission Statement of Quincy Asian Resources Inc
Quincy Asian Resources Inc, a nonprofit organization, is committed to enhancing the social, cultural, economic, and civic lives of immigrants and their families. Their mission is to foster and improve these aspects of life for this community, aiming to positively impact Quincy and its surrounding areas. By collaborating with various partners, Quincy Asian Resources Inc provides culturally competent services. These offerings include workforce development programs, adult education, youth development initiatives, and cultural events. Additionally, they offer information and referrals to public or other community organizations, ensuring that immigrants and their families have access to the resources they need to thrive.
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Impact
July, 2024
Quincy Asian Resources Inc has a significant impact on the social, cultural, economic, and civic lives of immigrants and their families in Quincy and the surrounding South Shore area. By providing culturally competent services such as workforce development, adult education programs, youth development, and cultural events, QARI contributes to the overall well-being of the immigrant population, primarily Asians and those with low-income, residing in the region. As the Asian population in Quincy grew to be the largest per capita in Massachusetts, followed by Boston and Malden, QARI has adapted its services and organizational strategies to meet the evolving needs of this rapidly growing community. Through collaborations and partnerships, Quincy Asian Resources Inc plays a vital role in fostering the integration, empowerment, and success of immigrants in Quincy and neighboring communities.
This information is meant to be a general summary of Quincy Asian Resources Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $521
- Program Service Revenue: $2,688,405
- Gross Receipts: $4,579,576
Assets and Liabilities:
- Total Assets: $2,462,377
- Total Liabilities: $326,153
- Net Assets: $2,136,224
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FOOD ACCESS PROGRAM RE
Revenue
$2,372,908
MANAGEMENT FEES
Revenue
$161,530
CONTRACT SERVICE REVEN
Revenue
$153,967
Organization Details
Founding Year
2001
Phone
(617) 472-2200Principal Officer
Philip Chong
Main Address
1509 HANCOCK STREET 209, QUINCY, MA, 02169
Website
www.quincyasianresources.orgNTEE Category
Code: P80 - Human services
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