2026-09-14T13:41:40-05:00 2025-12-31 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 245 PARK AVENUE 12TH FLOOR NEW YORK NY 10167 990 2025-01-01 133018822 ASIAN CULTURAL COUNCIL INC ASIA 2128430403 8 WEST 38TH STREET 901 NEW YORK NY 10018 JUDY KIM EXECUTIVE DIRECTOR 2128430403 2026-09-14 1 GARRETT M HIGGINS P00543209 2122862600 2026-09-14 2025 JUDY KIM 8 WEST 38TH STREET 901 NEW YORK NY 10018 15218951 0 X ASIANCULTURALCOUNCIL.ORG X 1980 NY DEEPENS INTERNATIONAL DIALOGUE & RESPECT THROUGH CULTURAL EXCHANGE ACTIVITIES IN ASIA AND US. 20 20 13 24 0 0 3767819 2396005 129235 48438 2446976 4671602 -216124 0 6127906 7116045 2502013 1034535 0 0 1437095 1661478 0 0 628726 953326 1459907 4892434 4155920 1235472 2960125 49166461 55579283 4144186 5221300 45022275 50357983 X THE ASIAN CULTURAL COUNCIL ("ACC") DEEPENS INTERNATIONAL DIALOGUE, UNDERSTANDING, AND RESPECT THROUGH CULTURAL EXCHANGE ACTIVITIES IN ASIA AND THE UNITED STATES TO CREATE A MORE HARMONIOUS AND PEACEFUL WORLD. THIS MISSION IS ACCOMPLISHED THROUGH FELLOWSHIPS AND PROGRAMS THAT SUPPORT INDIVIDUAL ARTISTS, SCHOLARS, AND ARTS PROFESSIONALS. 0 0 2318147 1034535 48438 THE ASIAN CULTURAL COUNCIL (ACC) IS A NONPROFIT ORGANIZATION THAT PROVIDES GRANTS FOR INTERNATIONAL CULTURAL EXCHANGE TO ARTISTS, HUMANITIES SCHOLARS, AND ARTS PROFESSIONALS ACROSS ASIA AND THE UNITED STATES. THROUGH FELLOWSHIPS, GRANTS, ACHIEVEMENT AWARDS, PUBLIC PROGRAMS, ALUMNI ENGAGEMENT, AND OTHER CULTURAL EXCHANGE INITIATIVES, ACC AIMS TO BUILD GLOBAL ARTS COMMUNITIES WHOSE INDIVIDUAL AND COLLECTIVE WORK SERVES TO ADVANCE INTERNATIONAL UNDERSTANDING AND RESPECT. ACC'S GRANTS AND FELLOWSHIPS PROGRAM ARE THE LARGEST AND MOST SIGNIFICANT OF OUR PROGRAM AREAS. THE ACC GRANT MODEL IS UNIQUE IN THAT PRIORITY IS GIVEN TO PROCESS-DRIVEN ACTIVITIES THAT ENABLE CULTURAL IMMERSION, RELATIONSHIP BUILDING, COLLABORATION, AND/OR THE EXCHANGE OF KNOWLEDGE AMONG PEERS. 2318147 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 38 0 13 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 20 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X X X VICTORIA CHOONG 2128430396 8 WEST 38TH STREET 901 NEW YORK NY 10018 JOSIE CRUZ NATORI CHAIRMAN 2.00 X X 0 0 0 HANS MICHAEL JEBSEN CO-VICE CHAIRMAN 2.00 X X 0 0 0 SUSAN ROCKEFELLER CO-VICE CHAIRMAN/SECRETARY 2.00 X X 0 0 0 JOHN R WITT TREASURER 2.00 X X 0 0 0 ANNE STRATON PIERSON SECRETARY, THRU NOV 2025/TRUSTEE 2.00 X X 0 0 0 ABIGAIL ALVAREZ TRUSTEE 1.00 X 0 0 0 ERNEST DE LEON ESCALER TRUSTEE, THRU MAY 2025 1.00 X 0 0 0 CAI GUO-QIANG TRUSTEE 1.00 X 0 0 0 BENJAMIN HARBURG TRUSTEE, THRU MAY 2025 1.00 X 0 0 0 DOUGLAS TONG HSU TRUSTEE 1.00 X 0 0 0 TONIA KATHERINE HSU TRUSTEE 1.00 X 0 0 0 CAROLYN HSU-BALCER TRUSTEE 1.00 X 0 0 0 ALICE HUNG TRUSTEE 1.00 X 0 0 0 JULIE ANN KOHN TRUSTEE 1.00 X 0 0 0 MICHELLE KOO HAYASHI TRUSTEE 1.00 X 0 0 0 JANET NATHANAIL TRUSTEE 1.00 X 0 0 0 CAROL RATTRAY TRUSTEE 1.00 X 0 0 0 RICHARD REITKNECHT TRUSTEE 1.00 X 0 0 0 CHARLES ROCKEFELLER TRUSTEE 1.00 X 0 0 0 RUBY SHANG TRUSTEE, THRU MAY 2025 1.00 X 0 0 0 DAN SWIFT TRUSTEE 1.00 X 0 0 0 MASAKO USHIODA TRUSTEE 1.00 X 0 0 0 SHANNON WU TRUSTEE 1.00 X 0 0 0 MERCEDES ZOBEL TRUSTEE 1.00 X 0 0 0 JUDY KIM EXECUTIVE DIRECTOR 40.00 X 265901 0 57336 CLAIRE LONERGAN DIR., DEVELOPMENT & COMMUNICATIONS 40.00 X 149684 0 50961 415585 0 108297 2 0 1 0 SHOOSMITHS LLP 1 BOW CHURCHYARD LONDON UK EC4M 9DQ LEGAL SERVICES 277960 PATTERSON BELKNAP WEBB & TAYLER LLP 1133 AVENUE OF THE AMERICAS NEW YORK NY 10036 LEGAL SERVICES 162923 2 238804 2157201 2844 2396005 PROGRAM ADMIN. FEES 900099 48438 48438 48438 1231292 1231292 11543216 8102906 3440310 3440310 3440310 7116045 48438 0 4671602 X 1034535 1034535 325846 114046 97754 114046 822088 357503 306398 158187 90632 39862 34164 16606 334314 139220 119321 75773 88598 36649 31411 20538 477058 197457 169047 110554 59673 24699 21145 13829 41367 41367 425393 229230 148459 47704 66162 66162 47720 19741 16915 11064 82445 27390 39714 15341 145170 60056 51457 33657 79455 24574 54438 443 972 402 345 225 10092 4177 3576 2339 REPAIR & MAINTENANCE 14016 5798 4968 3250 MOVING EXPENSES 5273 2181 1869 1223 DEVELOPMENT AND EVENTS 3596 3596 STAFF DEVELOPMENT 1515 627 537 351 4155920 2318147 1209047 628726 327778 745363 4485039 2449210 1549973 906152 10821 151361 134648 124953 613 9695 35365282 39326294 7308614 5868408 118341 6122800 49166461 55579283 270261 328991 1656516 1015023 55000 95000 108698 0 2053711 3782286 4144186 5221300 X 13223381 14459149 31798894 35898834 45022275 50357983 49166461 55579283 X 2960125 2983203 -607620 X X 0 1 X 1 0 X 4886250 7372921 3174988 3767819 2396005 21597983 4886250 7372921 3174988 3767819 2396005 21597983 3973354 17624629 821509 690075 935545 1192582 1231292 4871003 72489 15644 7206 95339 26564325 424810 0.66350 0.68150 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INSURANCE PROCEEDS - 2022 AMOUNT: $ 18,125. PENSION FORFEITURES - 2022 AMOUNT: $ 54,364. MISC REVENUE - 2023 AMOUNT: $ 15,644. 2024 AMOUNT: $ 115. REFUNDS - 2024 AMOUNT: $ 7,091. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 42454682 590000 7226298 1710854 41367 48518759 39482912 660000 4273363 1858525 103068 42454682 34769400 935169 5017029 1174066 64620 39482912 38413260 2800000 -5052154 1314078 77628 34769400 33822498 2847566 3902165 2083349 75620 38413260 0.26524 0.51717 0.21759 0 0 134648 124953 9695 9695 PRIVATE EQUITY 5848909 F INVESTMENT REDEMPTION RECEIVABLE 19499 F 5868408 RIGHT OF USE ASSET 1139150 SECURITY DEPOSITS 83650 INVESTMENTS MADE IN ADVANCE 4900000 6122800 ACCRUED PENSION AND POSTRETIREMENT BENEFITS 2614582 LEASE LIABILITY 1167704 3782286 X 9384600 2983203 2983203 6401397 41367 673281 714648 7116045 4048892 0 4048892 41367 65661 107028 4155920 PART V, LINE 4: THE TEMPORARILY RESTRICTED ENDOWMENTS ARE USED TO AWARD GRANTS TO INDIVIDUALS AND ORGANIZATIONS IN THE VISUAL AND PERFORMING ARTS AND TO SUPPORT OPERATIONAL EXPENSES. THE INCOME FROM PERMANENT ENDOWMENTS IS USED TO AWARD GRANTS TO INDIVIDUALS AND ORGANIZATIONS IN THE VISUAL AND PERFORMING ARTS AND TO SUPPORT OPERATIONAL EXPENSES. BOARD DESIGNATED ENDOWMENTS ARE USED TO PROVIDE OPERATIONAL EXPENSES AND FOR FUTURE INITIATIVES. PART X, LINE 2: ACC RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT ACC HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. ACC IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO FISCAL 2022. PART XI, LINE 4B - OTHER ADJUSTMENTS: AMOUNT NOT YET RECOGNIZED AS A COMPONENT OF NET PERIODIC BENEFIT COSTS 673,281. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANT REFUNDS 65,661. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT 5677857 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 1003559 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES CULTURAL EXCHANGE 50000 EAST ASIA AND THE PACIFIC 0 1 PROGRAM SERVICES PROGRAM COMPLIANCE SUPPORT 1992 EUROPE 0 1 PROGRAM SERVICES PROGRAM COMPLIANCE SUPPORT 277960 SOUTH ASIA 0 0 GRANTMAKING 30976 0 2 0 0 0 2 7042344 0 7042344 EAST ASIA AND THE PACIFIC PASS-THROUGH FUNDS 10000 WIRE 0 1 0 GENERAL SUPPORT - ASIAN ARTS EAST ASIA AND THE PACIFIC 54 993559 WIRE GENERAL SUPPORT - ASIAN ARTS SOUTH ASIA 3 30976 WIRE 1 0 1 1 1 0 PART I, LINE 2: ALL GRANTEES ARE REQUIRED TO SUBMIT A SIGNED SUMMARY FINANCIAL REPORT ON HOW THE GRANT FUNDS WERE USED, ALONG WITH A FINAL PROGRAM ACTIVITY REPORT. THESE REPORTS ARE REVIEWED TO ENSURE THEY FOLLOW THE AWARD DESCRIPTION AND MEET THE ORGANIZATION'S REPORTING REQUIREMENTS. ALL GRANTEES ARE REQUIRED TO WORK WITH THE ACC OFFICES IN THE US AND ASIA TO FULFILL THE REQUIREMENTS OF THE AWARD. PERSONAL CONTACT IS MAINTAINED WITH ALL GRANTEES, ESPECIALLY DURING THE PREPARATION PHASE AS THEY PLAN TO BEGIN THEIR GRANT ACTIVITIES, AND DURING THE GRANT OR FELLOWSHIP PERIOD. PART I, LINE 3: EXPENDITURES ARE ACCOUNTED FOR USING THE ACCRUAL METHOD. SCHEDULE F, PART IV, LINES 1, 3, 4, AND 5: THE ORGANIZATION IS REQUIRED TO FILE FORM 926 BECAUSE IT DOES MEET THE APPLICABLE OWNERSHIP THRESHOLD OR OTHER FILING REQUIREMENTS. THE ORGANIZATION IS NOT REQUIRED TO FILE FORM 5471 BECAUSE IT DOES NOT MEET THE APPLICABLE OWNERSHIP THRESHOLD OR OTHER FILING REQUIREMENTS. THE ORGANIZATION IS NOT REQUIRED TO FILE FORM 8621 BECAUSE IT DOES NOT MEET THE APPLICABLE OWNERSHIP THRESHOLD OR OTHER FILING REQUIREMENTS. THE ORGANIZATION IS NOT REQUIRED TO FILE FORM 8865 BECAUSE IT DOES NOT MEET THE APPLICABLE OWNERSHIP THRESHOLD OR OTHER FILING REQUIREMENTS. X X X 0 0 0 0 0 0 0 0 0 JUDY KIM EXECUTIVE DIRECTOR 263435 0 0 0 2466 0 37258 0 20078 0 323237 0 0 0 CLAIRE LONERGAN DIR., DEVELOPMENT & COMMUNICATIONS 149394 0 0 0 290 0 14953 0 36008 0 200645 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 1. CHARLES ROCKEFELLER (TRUSTEE), ANNE STRATON PIERSON (SECRETARY THROUGH NOV. 2025/TRUSTEE) AND SUSAN ROCKEFELLER (CO-VICE CHAIRMAN AND SECRETARY EFFECTIVE NOV. 2025) HAVE A FAMILY RELATIONSHIP. 2. DAN SWIFT (TRUSTEE) AND JULIE ANN KOHN (TRUSTEE) HAVE A FAMILY RELATIONSHIP. 3. DOUGLAS TONG HSU (TRUSTEE) AND TONIA KATHERINE HSU (TRUSTEE) HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED BY THE BOARD OF TRUSTEES DURING 2025. CHANGES TO THE BYLAWS INCLUDED, BUT WERE NOT LIMITED TO, THE FOLLOWING: 1. ADVISORY TRUSTEE TERM LIMITS ESTABLISHED: ADVISORY TRUSTEES ARE NOW SUBJECT TO THREE-YEAR TERMS, WITH A MAXIMUM OF THREE CONSECUTIVE TERMS, EFFECTIVE BEGINNING WITH THE MAY 5, 2025, ANNUAL MEETING, AND APPLIED RETROACTIVELY FOR PURPOSES OF CALCULATING TERM LIMITS. 2. BOARD QUORUM REQUIREMENT REVISED: THE BYLAWS NOW PROVIDE THAT A QUORUM IS A MAJORITY OF THE ENTIRE BOARD OF TRUSTEES (REPLACING THE PRIOR VARIABLE QUORUM FORMULA TIED TO BOARD SIZE). 3. COMMITTEE CHAIR TERM LIMITS ADDED: WITH THE EXCEPTION OF THE EXECUTIVE COMMITTEE, COMMITTEE CHAIRS ARE NOW LIMITED TO THREE-YEAR TERMS, RENEWABLE ONCE, WITH GOVERNANCE OVERSIGHT OF RENEWALS AND SUCCESSION PLANNING. 4. AUDIT COMMITTEE RESPONSIBILITIES EXPANDED: THE AUDIT COMMITTEE NOW HAS AN ADDED DUTY TO ANNUALLY REVIEW THE CHARGES AND RESTRICTIONS OF ALL COMMITTEES (EXCEPT THE EXECUTIVE COMMITTEE) AND REPORT THE RESULTS TO THE GOVERNANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY A PROFESSIONAL ACCOUNTING FIRM WITH INFORMATION PROVIDED BY THE ORGANIZATION'S STAFF. A COPY OF THE FORM 990 IS PROVIDED TO THE CHAIRMAN OF THE BOARD, CHAIRMAN OF THE FINANCE COMMITTEE AND AUDIT COMMITTEE FOR THEIR FINAL REVIEW AND APPROVAL. A COPY OF THE FORM 990 IS MADE AVAILABLE TO ALL MEMBERS OF THE GOVERNING BODY BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY THAT APPLIES TO ANY TRUSTEE, COMMITTEE MEMBER, OFFICER, AND EMPLOYEE ("PERSONNEL"), WHICH IT ANNUALLY MONITORS AND ENFORCES. THE EXECUTIVE ASSISTANT OF ACC WILL CIRCULATE ANNUALLY A DISCLOSURE FORM FOR PERSONNEL TO LIST ENTITIES IN WHICH THEY, OR A MEMBER OF THEIR IMMEDIATE FAMILY, HAVE A MATERIAL INTEREST OR OCCUPY A POSITION THAT MIGHT CREATE A CONFLICT OF INTEREST UNDER THIS POLICY. PERSONNEL MUST DISCLOSE ANY CONFLICT OF INTEREST TO THE EXECUTIVE DIRECTOR OR THE BOARD OF TRUSTEES AND ABSTAIN FROM RECOMMENDING, INFLUENCING, OR VOTING ON ANY PROPOSED ACTION. ONCE A CONFLICT OF INTEREST HAS BEEN DISCLOSED, PERSONNEL MUST RECUSE THEMSELVES FROM BOARD MEETINGS DURING CONSIDERATION OF THE TRANSACTION. BOARD MEETING MINUTES DESCRIBE THE POTENTIAL CONFLICT OF INTEREST, DISCLOSE ANY RELATED DISCUSSIONS, AND DOCUMENT COMPLIANCE WITH THESE PROCEDURES. PERSONNEL MAY PARTICIPATE IN THE DISCUSSION OF THE PROPOSED ACTION BY STAFF, THE BOARD, OR ANY OF ITS COMMITTEES AT THE REQUEST OF THE EXECUTIVE DIRECTOR, THE BOARD, OR CHAIR OF SUCH COMMITTEES. THE BOARD AND ITS COMMITTEES ARE ALSO ADVISED BY THE EXECUTIVE DIRECTOR OF ANY CONFLICT OF INTEREST OR APPARENT CONFLICT OF INTEREST KNOWN TO HIM OR HER OF PERSONNEL IN REGARD TO TRANSACTIONS WHICH ARE BEING CONSIDERED BY THE BOARD OR ITS COMMITTEES. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS THE EXECUTIVE DIRECTOR'S COMPENSATION ANNUALLY AND PUTS FORTH A RECOMMENDATION TO THE FULL BOARD. A FORMAL COMPENSATION STUDY IS CONDUCTED PERIODICALLY AT THE BOARD'S REQUEST TO ENSURE ALIGNMENT WITH MARKET STANDARDS. THE FULL BOARD DELIBERATES ON THE RECOMMENDATION AND FORMALLY APPROVES THE COMPENSATION IN Q1 OF THE FOLLOWING YEAR, WITH THE APPROVED AMOUNTS APPLIED RETROACTIVELY TO THE BEGINNING OF THE YEAR. RECORDS OF THE BOARD'S COMPENSATION DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. THIS PROCESS WAS LAST UNDERTAKEN IN 2025. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS ALSO POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BYLAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART IX, LINE 11G CONSULTANT: PROGRAM SERVICE EXPENSES 121,886. MANAGEMENT AND GENERAL EXPENSES 60,026. FUNDRAISING EXPENSES 12,000. TOTAL EXPENSES 193,912. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 62,880. MANAGEMENT AND GENERAL EXPENSES 53,833. FUNDRAISING EXPENSES 35,206. TOTAL EXPENSES 151,919. PAYROLL SERVICE FEES: PROGRAM SERVICE EXPENSES 889. MANAGEMENT AND GENERAL EXPENSES 761. FUNDRAISING EXPENSES 498. TOTAL EXPENSES 2,148. TEMPORARY HELP: PROGRAM SERVICE EXPENSES 43,575. MANAGEMENT AND GENERAL EXPENSES 33,839. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 77,414. FORM 990, PART XI, LINE 9: AMOUNT NOT YET RECOGNIZED AS A COMPONENT OF NET PERIODIC BENEFIT COSTS -673,281. GRANT REFUNDS 65,661. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.