Overview
What is Asian American Business Development Center Inc?
The Asian American Business Development Center Inc, situated in New York City, New York, is a nonprofit organization dedicated to supporting Asian-American business owners. With a dedicated team of five individuals, their primary mission is to provide these entrepreneurs with essential technical and professional assistance in the areas of marketing and financing strategies. Their goal is to empower the Asian-American business community, contributing to its growth and success.
Official website here: www.aabdc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating 75% - Three-Star out of Four Star rating
The Asian American Business Development Center Inc has achieved a 75% score from Charity Navigator, which corresponds to a Three-Star rating. This rating reflects a generally solid performance in accountability and finance, showcasing effective governance with a significant proportion of independent board members and strong oversight mechanisms in place. The organization adheres to essential policies such as conflict of interest and whistleblower protection, further reinforcing its commitment to transparency.
Strengths highlighted include a robust audit and oversight committee, as well as a good liabilities-to-assets ratio, indicating a healthy financial foundation. However, it falls short in certain areas, particularly in the diversity of its board size, where it has only two independent members. Additionally, the organization has been noted for missing the posting of its tax form on its website, which could affect public access to vital financial information.
Overall, while the Asian American Business Development Center demonstrates a solid commitment to accountability and financial practices, addressing the areas of board diversity and enhancing financial transparency on their website may help improve their rating and public trust moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Asian American Business Development Center Inc legitimate?
Asian American Business Development Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Asian American Business Development Center 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: $69,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $147,416
For more financial information, click here
Official website here: www.aabdc.com
What is the mission statement of Asian American Business Development Center Inc?
The Asian American Business Development Center Inc is committed to supporting Asian-American business owners by offering technical and professional assistance. Their mission is to help these entrepreneurs develop effective marketing and financing strategies. By providing this assistance, the center aims to empower Asian-American businesses to grow and thrive in their respective industries. The center's activities are focused on equipping business owners with the necessary tools and knowledge to navigate the complexities of the business world. This includes providing guidance on financial management, market trends, and business development strategies. The center's ultimate goal is to foster the growth and success of the Asian-American business community.
Official website here: www.aabdc.com
Who is the CEO of Asian American Business Development Center Inc?
John Wang is the President of Asian American Business Development Center Inc.
Official website here: www.aabdc.com
What is the revenue of Asian American Business Development Center Inc?
Asian American Business Development Center Inc's revenue in 2022 was $755,571.
Official website here: www.aabdc.com
Who are the executives of Asian American Business Development Center Inc and what are their salaries?
The average compensation at Asian American Business Development Center Inc during 2022 was $43,383. There are 5 employees at Asian American Business Development Center Inc.
Here are 3 key members and their salaries:
- Compensation: $69,500
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.aabdc.com
Where can I find the form 990 for Asian American Business Development Center Inc?
Asian American Business Development Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.aabdc.com
Learn more at the official website: www.aabdc.com
Mission Statement of Asian American Business Development Center Inc
The Asian American Business Development Center Inc is dedicated to assisting Asian-American business owners in their quest for success. This nonprofit organization provides them with the necessary technical and professional aid in devising effective marketing and financing strategies. By offering such assistance, the Asian American Business Development Center Inc aims to empower these entrepreneurs, enabling them to navigate the complex business landscape with confidence and competence. This mission is pivotal in fostering the growth and prosperity of the Asian-American business community.
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Impact
October, 2024
Asian American Business Development Center Inc significantly impacts the community by empowering Asian-American business owners through expert technical and professional assistance. Their focus on developing effective marketing and financing strategies enables entrepreneurs to navigate challenges and seize opportunities in a competitive environment. By providing tailored support, they enhance the overall sustainability and growth of Asian-American businesses, contributing to economic vitality in New York and beyond. This organization fosters entrepreneurial skills, promotes community improvement, and strengthens the economic foundation of the Asian-American community.
This information is meant to be a general summary of Asian American Business Development Center 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.
- Gross Receipts: $755,571
Assets and Liabilities:
- Total Assets: $996,075
- Total Liabilities: $239,981
- Net Assets: $756,094
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Organization Details
Founding Year
1994
Phone
(212) 966-0100Principal Officer
John Wang
Main Address
390 FIFTH AVE 510, NEW YORK, NY, 10018
Website
www.aabdc.comNTEE Category
Code: S20 - Community improvement
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