Overview
What is Asian Pacific Islander Small Business Program Inc?
The Asian Pacific Islander Small Business Program Inc, based in Los Angeles, California, is a nonprofit organization dedicated to supporting the growth and development of small businesses within the Asian Pacific Islander community. Specifically focusing on Chinese, Cambodian, Korean, Japanese, Thai, and Filipino business communities, the program primarily assists low-income immigrants. It raises funds and provides community support for the small business programs of LTSC CDC, contributing to the economic development of minority and low-income communities. During the last year, approximately 2,000 entrepreneurs benefited from this program, which functions in several low-income areas of Los Angeles and Long Beach.
Official website here: www.apisbp.org
Is Asian Pacific Islander Small Business Program Inc legitimate?
Asian Pacific Islander Small Business Program Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Asian Pacific Islander Small Business Program 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.
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Official website here: www.apisbp.org
What is the mission statement of Asian Pacific Islander Small Business Program Inc?
The Asian Pacific Islander Small Business Program Inc's mission is centered around assisting the development of small and micro businesses, with a specific focus on communities of Chinese, Cambodian, Korean, Japanese, Thai, and Filipino origin, particularly low-income immigrants. The organization operates for the exclusive benefit of the Small Business Program of LTSC CDC, with the primary purpose of raising funds and providing community support for these programs. The funds raised are directly utilized by LTSC CDC for its small business programs or for charitable activities that benefit these initiatives. During the year, the program supported approximately 2,000 entrepreneurs, primarily functioning in five neighborhoods within the City of Los Angeles and one neighborhood in the City of Long Beach, all of which are federally-defined low-moderate income areas.
Official website here: www.apisbp.org
What is the revenue of Asian Pacific Islander Small Business Program Inc?
Asian Pacific Islander Small Business Program Inc's revenue in 2024 was $527,484.
Official website here: www.apisbp.org
Who are the executives of Asian Pacific Islander Small Business Program Inc and what are their salaries?
Here are 7 key members and their salaries:
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Official website here: www.apisbp.org
Where can I find the form 990 for Asian Pacific Islander Small Business Program Inc?
Asian Pacific Islander Small Business Program Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.apisbp.org
Learn more at the official website: www.apisbp.org
Mission Statement of Asian Pacific Islander Small Business Program Inc
The Asian Pacific Islander Small Business Program, a vital organization, is committed to aiding the growth and development of small and micro businesses in Los Angeles, with a special focus on the Chinese, Cambodian, Korean, Japanese, Thai, and Filipino business communities. This organization, particularly dedicated to assisting low-income immigrants, operates under the umbrella of LTSC CDC, sharing a common objective of supporting minority and low-income communities.
The mission of the Asian Pacific Islander Small Business Program is twofold. Firstly, it aims to raise funds and cultivate community support for the small business programs operated by LTSC CDC. Secondly, it utilizes the funds it raises to support the Small Business Assistance Program of LTSC CDC directly. This program played a significant role in assisting approximately 2,000 entrepreneurs during a given year, primarily in five neighborhoods of Los Angeles and one neighborhood in Long Beach, all classified as federally-defined low-moderate income areas.
In essence, the Asian Pacific Islander Small Business Program serves as a bridge between the targeted communities and the Small Business Assistance Program of LTSC CDC. By securing financial support and fostering community engagement, it enables the Small Business Assistance Program to provide invaluable aid to aspiring entrepreneurs, contributing to the economic growth and vitality of these communities.
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Impact
October, 2024
The Asian Pacific Islander Small Business Program Inc significantly impacts the economic landscape of Los Angeles, particularly within low-income immigrant communities. By focusing on the development of small and micro businesses among Chinese, Cambodian, Korean, Japanese, Thai, and Filipino entrepreneurs, the program addresses the unique challenges these communities face.
In the past year alone, the initiative has supported approximately 2,000 entrepreneurs, empowering them with the resources, guidance, and financial assistance necessary to thrive in a competitive market. This support not only helps individual businesses succeed but also fosters broader community economic development, revitalizing areas that may otherwise struggle.
Targeting neighborhoods identified as low-moderate income, the program plays a vital role in improving community welfare through economic enhancement. By assisting these small businesses, it contributes to job creation, cultural preservation, and the overall prosperity of minority communities in Los Angeles and Long Beach, ensuring that their unique histories and contributions continue to flourish in the region's economic tapestry.
This information is meant to be a general summary of Asian Pacific Islander Small Business Program 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 2024.
- Investment Income: $828
- Program Service Revenue: $30,000
- Gross Receipts: $527,484
Assets and Liabilities:
- Total Assets: $1,385,725
- Total Liabilities: $364,365
- Net Assets: $1,021,360
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONSULTING FEES
Revenue
$30,000
Organization Details
Founding Year
2004
Principal Officer
Erich Nakano
Website
www.apisbp.orgNTEE Category
Code: S112 - Community improvement
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