Overview
What is Asian Community Development Corporation?
The Asian Community Development Corporation (ACDC) is a nonprofit organization located in Boston, Massachusetts, specifically at 38 Oak Street, 02111. Their primary mission is to serve underprivileged and immigrant Asian American communities in the Greater Boston region. They strive to create and maintain affordable, sustainable, and healthy neighborhoods by constructing affordable dwellings, vibrant spaces, and empowering families with asset-building tools. This is achieved through various programs, including offering financial literacy training, matched savings programs, and one-on-one housing counseling. Notably, ACDC provides Chinese language services in its HUD-approved first-time homebuyer workshops, making it unique in New England. The Building Blocks Program is a significant initiative that focuses on financial empowerment. The organization's website, AsianCDC.org, contains a wealth of information on their programs and achievements, as demonstrated in their 2022 Annual Report. In total, the organization employs 15 individuals.
Official website here: www.asiancdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Asian Community Development Corporation has earned a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. The organization scored 96% in the Accountability & Finance category, which is significant as it demonstrates a high level of transparency and responsible management of funds. This rating is based on various metrics including an independent board, audit oversight, and the absence of material asset diversion.
Strengths of the organization include a fully independent board of directors and a strong financial oversight structure, with perfect scores across multiple criteria. The program expense ratio of 77.33% indicates a substantial portion of its resources is directed towards programs rather than administrative costs or fundraising. Additionally, the fundraising efficiency is notably high, with only $0.11 spent to raise each dollar, showcasing effective fundraising strategies.
There are no significant limitations noted in the available data. The organization maintains comprehensive policies, including conflict of interest and whistleblower protections, which further underscores its commitment to ethical practices. Overall, the Asian Community Development Corporation exemplifies a well-managed nonprofit with a focus on delivering value to the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Asian Community Development Corporation legitimate?
Asian Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Asian Community Development Corporation 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: $129,738
Professional Fundraising Fees: $0
Other Salaries and Wages: $748,958
For more financial information, click here
Official website here: www.asiancdc.org
What is the mission statement of Asian Community Development Corporation?
The Asian Community Development Corporation (ACDC) works in underserved and immigrant Asian American communities in various regions, focusing on Greater Boston, to create and preserve affordable, sustainable, and healthy neighborhoods. They achieve this by constructing affordable homes and lively spaces, empowering families with asset-building tools, and strengthening communities through resident and youth leadership.
Official website here: www.asiancdc.org
Who is the CEO of Asian Community Development Corporation?
Paul W Lee is the President of Asian Community Development Corporation.
Official website here: www.asiancdc.org
What is the revenue of Asian Community Development Corporation?
Asian Community Development Corporation's revenue in 2022 was $3,536,365.
Official website here: www.asiancdc.org
Who are the executives of Asian Community Development Corporation and what are their salaries?
The average compensation at Asian Community Development Corporation during 2022 was $58,580. There are 15 employees and 100 volunteers at Asian Community Development Corporation.
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- Compensation: $103,033
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- Other: $26,705
- Compensation: $113,098
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- Other: $14,617
Official website here: www.asiancdc.org
Where can I find the form 990 for Asian Community Development Corporation?
Asian Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.asiancdc.org
Learn more at the official website: www.asiancdc.org
Mission Statement of Asian Community Development Corporation
The Asian Community Development Corporation (ACDC) is dedicated to serving underserved and immigrant Asian American communities in the Greater Boston region. Their mission is to create and preserve affordable, sustainable, and healthy neighborhoods. They achieve this goal by constructing affordable homes and vibrant spaces, empowering families with asset-building tools, and strengthening communities through resident and youth leadership. This nonprofit organization aims to uplift these communities, providing them with the resources and opportunities they need to thrive.
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Impact
July, 2024
Asian Community Development Corporation (ACDC) has a significant impact on underserved and immigrant Asian American communities in the greater Boston region. By building affordable homes and vibrant spaces, empowering families with asset-building tools, and strengthening communities through resident and youth leadership, ACDC is actively working to create and preserve affordable, sustainable, and healthy neighborhoods. The organization's Building Blocks program provides crucial financial empowerment through home buying workshops, financial literacy training, matched savings programs, and personalized housing counseling, ultimately helping individuals achieve their homeownership goals. Additionally, ACDC's monthly workshops program for first-time homebuyers, which is the only HUD-approved workshop in New England offering Chinese language services regularly, plays a vital role in supporting individuals through the home buying process. Through these initiatives and its overall mission, ACDC is making a tangible difference in improving housing accessibility and economic opportunities for Asian American communities in Boston.
This information is meant to be a general summary of Asian Community Development Corporation. 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: $25,029
- Program Service Revenue: $1,845,029
- Gross Receipts: $3,671,059
Assets and Liabilities:
- Total Assets: $35,500,054
- Total Liabilities: $12,634,747
- Net Assets: $22,865,307
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$1,004,568
RENTAL INCOME
Revenue
$535,867
MANAGEMENT FEES
Revenue
$267,902
SERVICE REVENUE
Revenue
$36,692
Organization Details
Founding Year
1987
Phone
(617) 482-2380Principal Officer
Paul W Lee
Main Address
38 OAK STREET, BOSTON, MA, 02111
Website
www.asiancdc.orgNTEE Category
Code: L20Z - Housing
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