Overview
What is Asian Economic Development Association?
The Asian Economic Development Association is a nonprofit organization situated in Saint Paul, Minnesota, at 422 University Avenue West 14. Their primary mission is to enhance economic opportunities for Asian Americans. They achieve this by organizing cultural events, promoting the Little Mekong District in Saint Paul, and creating access to economic prospects for artists within the Twin Cities' Asian communities. The association strives to provide cultural experiences to the public and contribute to the overall development and growth of these communities. The organization is staffed by a team of seven dedicated individuals.
Official website here: www.aedamn.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating
The Asian Economic Development Association has received an 81% score, which translates to a Three-Star rating on Charity Navigator. This rating reflects the organization's strong performance primarily in the Accountability & Finance category. The organization has demonstrated a commitment to transparency and ethical governance, with an independent board comprised entirely of independent members, and it has established comprehensive policies regarding conflicts of interest and whistleblowing.
Strengths of the organization include an impressive program expense ratio of 81.06%, indicating that a significant portion of its expenses goes directly toward its programs rather than administrative costs. Additionally, the organization has effectively managed its liabilities, maintaining a low liabilities-to-assets ratio of 9.49%. These indicators suggest sound financial health and an effective use of resources.
However, while the organization excels in accountability and financial management, the rating is solely based on this category, leaving out other potential factors like program impact or community feedback. As such, while the financial metrics are strong, a broader assessment of overall effectiveness may be required for a complete understanding of the organization's impact.
This AI summary has been generated from information found on Charity Navigator.
Is Asian Economic Development Association legitimate?
Asian Economic Development Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Asian Economic Development Association 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: $123,169
Professional Fundraising Fees: $0
Other Salaries and Wages: $291,731
For more financial information, click here
Official website here: www.aedamn.org
What is the mission statement of Asian Economic Development Association?
The Asian Economic Development Association's mission is centered around enhancing economic prospects for the Asian American community. In pursuit of this objective, the organization strives to create and facilitate economic opportunities. To achieve this, they engage in activities that promote cultural events, particularly in the Little Mekong District of Saint Paul. This initiative not only exposes the public to the rich cultural heritage of the Asian communities in the Twin Cities but also provides economic opportunities for local artists.
Official website here: www.aedamn.org
Who is the CEO of Asian Economic Development Association?
Va-Megn Thoj is the Chair of Asian Economic Development Association.
Official website here: www.aedamn.org
What is the revenue of Asian Economic Development Association?
Asian Economic Development Association's revenue in 2022 was $808,780.
Official website here: www.aedamn.org
Who are the executives of Asian Economic Development Association and what are their salaries?
The average compensation at Asian Economic Development Association during 2022 was $59,271. There are 7 employees and 15 volunteers at Asian Economic Development Association.
Here are 5 key members and their salaries:
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- Other: $0
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- Compensation: $100,051
- Related: $0
- Other: $23,118
Official website here: www.aedamn.org
Where can I find the form 990 for Asian Economic Development Association?
Asian Economic Development Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.aedamn.org
Learn more at the official website: www.aedamn.org
Mission Statement of Asian Economic Development Association
The Asian Economic Development Association, a notable organization, is committed to expanding economic prospects for Asian Americans. As part of its mission, the association strives to create avenues for economic advancement within the Asian American community. To achieve this, the organization focuses on the arts and culture sector. They organize cultural events and champion the Little Mekong District in Saint Paul, making it accessible to the public. This initiative not only showcases Asian art and culture but also provides economic opportunities for artists belonging to the Twin Cities' Asian communities.
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Impact
July, 2024
The Asian Economic Development Association's impact is felt through its efforts to increase economic opportunities for Asian Americans in Saint Paul, Minnesota. By providing cultural events and promoting the Little Mekong District, they create access to economic opportunities for artists in the Twin Cities' Asian communities. Their focus on promoting arts and culture not only enriches the community but also contributes to the economic development of Asian American individuals and businesses. Through their work, they help bridge gaps and enhance employment prospects for Asian Americans in the region.
This information is meant to be a general summary of Asian Economic Development Association. 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: $1,041
- Program Service Revenue: $33,147
- Gross Receipts: $812,471
Assets and Liabilities:
- Total Assets: $1,466,675
- Total Liabilities: $139,269
- Net Assets: $1,327,406
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES
Revenue
$33,147
Organization Details
Founding Year
1998
Phone
(651) 222-7798Principal Officer
Va-Megn Thoj
Main Address
422 UNIVERSITY AVENUE WEST 14, SAINT PAUL, MN, 55103
Website
www.aedamn.orgNTEE Category
Code: J22 - Employment
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