2024-06-17T12:33:55-05:00 2023-07-31 812950760 SAX LLP 1040 AVENUE OF THE AMERICAS 16TH FL NEW YORK NY 10018 990 2022-08-01 133650718 APEX FOR YOUTH INC APEX 2123853574 195 CHRYSTIE STREET 200 NEW YORK NY 10002 JIYOON CHUNG EXECUTIVE DIRECTOR 2123853574 2024-06-14 1 JIYOON CHUNG 999009999 0 MIKE SCHALL P02024184 2122682804 2024-06-11 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z JIYOON CHUNG 195 CHRYSTIE STREET 200 NEW YORK NY 10002 6962203 0 X HTTPS://WWW.APEXFORYOUTH.ORG/ X 1992 NY APEX FOR YOUTH DELIVERS POSSIBILITIES TO UNDERSERVED ASIAN AND IMMIGRANT YOUTH FROM LOW-INCOME FAMILIES IN NYC. APEX RECRUITS WORKING PROFESSIONALS TO VOLUNTEER AND BECOME POSITIVE ROLE MODELS WHO INSPIRE YOUTH TO EXPAND THEIR HORIZONS AND ENVISION WHAT IS POSSIBLE FOR THEIR LIVES. THROUGH MENTORING AND EDUCATIONAL PROGRAMS THAT SERVE STUDENTS FROM PRE-K TO 12TH GRADE AND BEYOND, APEX VOLUNTEERS GUIDE AND SUPPORT YOUTH TO BECOME CONFIDENT, BE READY FOR COLLEGE AND GIVE BACK TO THE COMMUNITY. 16 16 164 752 0 0 2842263 5934517 155362 155235 -1426 114 2481319 139667 5477518 6229533 0 52713 0 0 2599896 3802154 0 0 670701 1083850 1569734 3683746 5424601 1793772 804932 4755328 7502736 462463 2186437 4292865 5316299 X APEX FOR YOUTH DELIVERS POSSIBILITIES TO UNDERSERVED ASIAN AND IMMIGRANT YOUTH FROM LOW-INCOME FAMILIES IN NYC. APEX RECRUITS WORKING PROFESSIONALS TO VOLUNTEER AND BECOME POSITIVE ROLE MODELS WHO INSPIRE YOUTH TO EXPAND THEIR HORIZONS AND ENVISION WHAT IS POSSIBLE FOR THEIR LIVES. THROUGH MENTORING AND EDUCATIONAL PROGRAMS THAT SERVE STUDENTS FROM PRE-K TO 12TH GRADE AND BEYOND, APEX VOLUNTEERS GUIDE AND SUPPORT YOUTH TO BECOME CONFIDENT, BE READY FOR COLLEGE AND GIVE BACK TO THE COMMUNITY. 0 0 4251582 52713 155235 APEX FOR YOUTH EMPOWERS ASIAN AMERICAN YOUTH FROM LOW-INCOME AND IMMIGRANT FAMILIES IN NEW YORK CITY AND BEYOND TO HELP THEM UNLOCK THEIR POTENTIAL AND A WORLD OF POSSIBILITY IN ACTIVE PURSUIT OF A MORE EQUITABLE FUTURE. IN 2023, THE ORGANIZATION SERVED OVER 2,000 STUDENTS THROUGH PROGRAMS SPANNING ATHLETICS, COLLEGE & CAREER SUCCESS, ELEMENTARY ENRICHMENT, MENTAL HEALTH, AND MENTORING WITH THE SUPPORT OF OVER 700 VOLUNTEERS AND OVER 40 CULTURALLY COMPETENT AND CARING STAFF MEMBERS. 4251582 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 30 0 1 164 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X ALEX KOGAN 2123853574 195 CHRYSTIE STREET 200 NEW YORK NY 10002 PREETI SRIRATANA CHAIR 3.00 X X 0 0 0 ERIC LEE VICE CHAIR 3.00 X X 0 0 0 KATHY WONG SECRETARY 3.00 X X 0 0 0 BLAISE CHOW TREASURER 3.00 X X 0 0 0 RAYMOND CHAN DIRECTOR 3.00 X 0 0 0 CHRISTOPHER CHAO DIRECTOR 3.00 X 0 0 0 JEFFREY CHEN DIRECTOR 3.00 X 0 0 0 DAVID JAR DIRECTOR 3.00 X 0 0 0 AYA KANAI DIRECTOR 3.00 X 0 0 0 JAY KIM THRU 020323 DIRECTOR 3.00 X 0 0 0 MELODY LEE DIRECTOR 3.00 X 0 0 0 GILBERT LIU DIRECTOR 3.00 X 0 0 0 PATRICK LO DIRECTOR 3.00 X 0 0 0 YUKARI MATSUZAWA PASS DIRECTOR 3.00 X 0 0 0 BETTY WONG THRU 040223 DIRECTOR 3.00 X 0 0 0 KAREN WONG DIRECTOR 3.00 X 0 0 0 PATRICK YEE DIRECTOR 3.00 X 0 0 0 WEN ZHOU DIRECTOR 3.00 X 0 0 0 JIYOON CHUNG EXECUTIVE DIRECTOR 40.00 X 155292 0 16426 ALEX KOGAN DIRECTOR OF OPERATIONS 40.00 X 105713 0 9103 261005 0 25529 2 0 0 0 10 SOUTH STREET BANQUET OPERATOR LLC 10 SOUTH STREET NEW YORK NY 10004 GALA VENUE 355635 1 2829115 453516 2651886 20000 5934517 PROGRAM INCOME 900099 155235 155235 155235 697 697 583 -583 -583 -583 732087 2829115 732087 0 OTHER INCOME 900099 134297 134297 SPEAKER FEES 900099 5150 5150 SWAG SALE 900099 220 220 139667 6229533 155235 0 139781 52713 52713 197768 98884 49442 49442 2999746 2437997 195216 366533 18867 15331 1238 2298 290764 235978 19255 35531 295009 234532 22421 38056 15177 15177 100909 100909 187761 162634 323 24804 190444 78870 7540 104034 288293 279376 5541 3376 37275 19951 14281 3043 468987 422089 23449 23449 4008 3186 305 517 24000 24000 31877 28689 1594 1594 PROFESSIONAL DEVELOPMEN 87678 69704 6664 11310 EVENT EXPENSE 62359 62173 68 118 BANK FEES 40373 30280 6056 4037 DUES AND SUBSCRIPTIONS 25593 19195 3839 2559 5000 5000 5424601 4251582 502318 670701 3664402 3405899 804332 2119322 112886 91766 238828 127481 24003 111347 149705 1774402 4755328 7502736 378683 288103 83780 91759 0 1806575 462463 2186437 X 3994110 4536420 298755 779879 4292865 5316299 4755328 7502736 804932 15412 203090 0 X 0 1 X 1 0 X 2582099 1718288 3922363 5312243 5914517 19449510 2582099 1718288 3922363 5312243 5914517 19449510 1105259 18344251 107806 600 2723 697 111826 11339 139667 151006 19712342 771665 0.93060 0.99970 X PART II, SECTION A, LINE 1 THE CONTRIBUTION AMOUNTS FOR THE 2018, 2019, 2020 AND 2021 HAVE BEEN UPDATED TO INCLUDE CONTRIBUTION AMOUNTS RELATED TO FUNDRAISING EVENTS THAT WERE NOT PREVIOUSLY REPORTED IN THE CALCULATION. THIS CHANGE ALSO IMPACTED THE AMOUNTS REPORTED ON LINES 4 AND LINE 7 FOR THE CORRESPONDING YEARS. ADDITIONALLY, THE AMOUNTS REPORTED IN LINE 8 RELATED TO INTEREST INCOME WERE INCORRECTLY REPORTED IN THE PRIOR YEARS. THESE AMOUNTS HAVE BEEN CORRECTED AS WELL. ADJUSTING THESE AMOUNTS DID NOT MATERIALLY IMPACT THE OVERALL PUBLIC SUPPORT PERCENTAGE FOR PRIOR YEARS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 50178 5418 44760 77536 63369 14167 111114 58694 52420 111347 OPERATING LEASE RIGHT-OF-USE ("ROU") ASSETS 1652592 SECURITY DEPOSIT 121810 1774402 OPERATING LEASE OBLIGATION 1806575 1806575 X 6448035 15412 203090 218502 6229533 0 6229533 5424601 0 5424601 0 5424601 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). THIS IRC SECTION ENABLES THE ORGANIZATION TO ACCEPT DONATIONS WHICH QUALIFY AS CHARITABLE CONTRIBUTIONS TO THE DONOR. THE ORGANIZATION HAS FILED FOR AND RECEIVED INCOME TAX EXEMPTIONS IN THE JURISDICTIONS WHERE IT IS REQUIRED TO DO SO. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS. IN ADDITION, THE ORGANIZATION HAS NO UNRELATED BUSINESS INCOME WHICH COULD BE TAXABLE. THE ORGANIZATION FILES WITH THE INTERNAL REVENUE SERVICE FORM 990, "RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX AND THE RELATED STATE AND LOCAL EXEMPT ORGANIZATION RETURNS AS REQUIRED. THE ORGANIZATION FOLLOWS THE PROVISIONS OF FASB ASC 740-10-25. THE PROVISIONS PRESCRIBE A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN INCOME TAX RETURNS. THE POSITIONS ARE JUDGED WHETHER THEY MEET THE "MORE-LIKELY-THAN-NOT" THRESHOLD BASED UPON THE TECHNICAL MERITS OF THE POSITIONS. THE ORGANIZATION BELIEVES THAT IT DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. THE ORGANIZATION'S 2020, 2021 AND 2022 TAX YEARS ARE OPEN AND SUBJECT TO EXAMINATION BY THE TAX AUTHORITIES. HOWEVER, THE ORGANIZATION IS NOT CURRENTLY UNDER EXAMINATION, NOR HAS IT BEEN CONTACTED BY ANY OF THE TAX AUTHORITIES. ANNUAL GALA 3151436 2449263 702173 288941 413232 409766 379852 29914 29914 3561202 2829115 732087 288941 443146 732087 0 0 SCHOLARSHIPS 18 52713 PART III APEX FOR YOUTH IS COMMITTED TO SUPPORTING STUDENTS THROUGH COLLEGE AND LESSENING THE FINANCIAL BURDEN THAT COMES WITH PURSUING THEIR ACADEMIC GOALS. THROUGH THE GENEROSITY OF OUR DONORS, APEX WAS ABLE TO AWARD THREE SCHOLARSHIPS TO 18 HIGH SCHOOL SENIORS FROM THE CLASS OF 2024. THE APEX FOR YOUTH COLLEGE SUCCESS SCHOLARSHIP AWARDS 6 STUDENTS UP TO $10K A YEAR FOR 4 YEARS. AWARDEES MUST DEMONSTRATE FINANCIAL NEED, COMMITMENT TO THE COMMUNITY THROUGH VOLUNTEER HOURS AND COMMIT TO JOINING THE APEX ALUMNI PROGRAM. THE NORMAN C.T. LIU SCHOLARSHIP AWARDS 10 APEX YOUTH PROGRAM PARTICIPANTS WITH A $2K AWARD. THE WU FAMILY SCHOLARSHIP AWARDS APEX YOUTH ALUMNI WITH AWARDS RANGING FROM $1K - $10K. THE LIN SISTERS SCHOLARSHIP AWARDS 5 APEX YOUTH PARTICIPANTS WITH A $1K AWARD. X X X X X 0 0 0 0 0 0 0 0 0 JIYOON CHUNG EXECUTIVE DIRECTOR 155292 0 0 0 0 0 470 0 15956 0 171718 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF FORM 990 IS DISTRIBUTED TO THE BOARD BY EMAIL AND ALL QUESTIONS ARE COLLECTED AND ADDRESSED. FORM 990, PART VI, SECTION B, LINE 12C IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER APEX CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS COMPENSATION COMPARISON DATA FOR THE EXECUTIVE DIRECTOR AND OTHER OFFICERS AND KEY EMPLOYEES. MARKET DATA AND NONPROFIT SALARY SURVEYS ARE USED FOR THIS ANALYSIS. INDIVIDUAL BOARD MEMBERS HAVE AN OPPORTUNITY TO PROVIDE FEEDBACK AND INPUT. COMPENSATION FOR TOP MANAGEMENT AND KEY EMPLOYEES IS REVIEWED AND APPROVED AS PART OF THE ANNUAL BUDGET CYCLE. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.