Nonprofit · EIN 04-2988263
ASIAN COMMUNITY DEVELOPMENT CORP
Tax-exempt · BOSTON, MA 02111
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $4,785,869 | $3,733,823 | $1,052,046 | $43,595,108 | $18,889,348 | $24,705,760 |
| December 31, 2023 | 990 | $5,068,505 | $3,954,751 | $1,113,754 | $37,684,634 | $13,584,000 | $24,100,634 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,594,514
- of which government grants
- $850,657
- Program service revenue
- $2,683,412
- Investment income
- $296,979
- Net rental income
- $117,193
- Net gain from sales of assets
- $79,407
- Other revenue
- $210,964
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $176,205
- Other salaries and wages
- $896,996
- Salaries, compensation and benefits (total)
- $1,285,606
- Professional fundraising fees
- $0
- Legal fees
- $9,462
- Accounting fees
- $170,494
- Occupancy
- $651,066
- Travel
- $10,010
- Depreciation
- $271,178
- Program services (functional)
- $2,744,693
- Management and general (functional)
- $758,287
- Fundraising (functional)
- $230,843
Balance sheet and other
- Total assets, start of year
- $37,684,634
- Total assets, end of year
- $43,595,108
- Total liabilities, end of year
- $18,889,348
- Net assets, end of year
- $24,705,760
- Land, buildings and equipment
- $14,822,602
- Publicly traded securities
- $3,893,359
- Net assets without donor restrictions
- $24,404,164
- Net assets with donor restrictions
- $301,596
- Gross receipts
- $7,063,358
- Employees
- 15
- Volunteers
- 100
- Year formed
- 1987
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ANGIE LIOU | EXECUTIVE DIRECTOR Officer | 35 | $134,149 | $38,928 |
| DANIEL PARK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DANIELLE KIM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| EMILY YU | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| EUGENE HO | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| GEOFFREY WHY | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| HELEN HAN | DIRECTOR (UNTIL 09/2024) Trustee or director | 1 | $0 | $0 |
| JARONE LEE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JEFFREY HSI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KAREN SOOHOO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MAI DU | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL S GRECO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NICK CHAU | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAUL W LEE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| VINCENT LAU | ASST. CLERK Trustee or director, Officer | 1 | $0 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| YONGMEI CHEN | ASST. TREASURER Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ANGIE LIOU | EXECUTIVE DIRECTOR Officer | 35 | $134,704 | $32,747 |
| DANIEL PARK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DANIELLE KIM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| EMILY YU | VICE CHAIR Trustee or director | 1 | $0 | $0 |
| EUGENE HO | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| GEOFFREY WHY | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| JARONE LEE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JEFFREY HSI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JUSTIN KANG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KAREN SOOHOO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MAI DU | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL S GRECO | CLERK Trustee or director, Officer | 1 | $0 | $0 |
| NICK CHAU | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAUL W LEE | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| PETER MADSEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| REBECCA A LEE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| VINCENT LAU | ASST. CLERK Trustee or director, Officer | 1 | $0 | $0 |
| YONGMEI CHEN | ASST. TREASURER Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 38 OAK STREET, BOSTON, MA 02111-0000
- Principal officer (990 for 2024)
- GEOFFREY WHY, 38 OAK STREET, BOSTON, MA 02111
- Signed the 990
- ANGIE LIOU, EXECUTIVE DIRECTOR
- Phone
- (617) 482-2380
- Website
- WWW.ASIANCDC.ORG
- Return prepared by
- COHNREZNICK ADVISORY LLC
Mission
THE ASIAN COMMUNITY DEVELOPMENT CORPORATION (ACDC) WORKS IN UNDERSERVED AND IMMIGRANT ASIAN AMERICAN COMMUNITIES IN THE GREATER BOSTON REGION TO CREATE AND PRESERVE AFFORDABLE, SUSTAINABLE, AND HEALTHY NEIGHBORHOODS. WE ACHIEVE THIS BY BUILDING AFFORDABLE HOMES AND VIBRANT SPACES, EMPOWERING FAMILIES WITH ASSET-BUILDING TOOLS, AND STRENGTHENING COMMUNITIES THROUGH RESIDENT AND YOUTH LEADERSHIP.
Program accomplishments
- THE ASIAN COMMUNITY DEVELOPMENT CORPORATION (ACDC) WORKS IN UNDERSERVED AND IMMIGRANT ASIAN AMERICAN COMMUNITIES IN THE GREATER BOSTON REGION TO CREATE AND PRESERVE AFFORDABLE, SUSTAINABLE, AND HEALTHY NEIGHBORHOODS. WE ACHIEVE THIS BY BUILDING AFFORDABLE HOMES AND VIBRANT SPACES, EMPOWERING FAMILIES WITH ASSET-BUILDING TOOLS, AND STRENGTHENING COMMUNITIES THROUGH RESIDENT AND YOUTH LEADERSHIP. ASIAN CDC'S WEBSITE PROVIDES A WEALTH OF INFORMATION AND VIDEOS ABOUT ITS PROGRAMS SEE THE 2024 ANNUAL REPORT AT HTTPS://ASIANCDC.ORG/OUR-WORK. THE BUILDING BLOCKS PROGRAM PROVIDES FINANCIAL EMPOWERMENT THROUGH HOME BUYING WORKSHOPS, FINANCIAL LITERACY TRAINING, MATCHED SAVINGS PROGRAM, AND 1 ON 1 HOUSING COUNSELING.Expenses $1,316,371 · revenue $2,155,409
- THE HOUSING DEVELOPMENT PROGRAM WORKS TO CREATE AND PRESERVE HIGH QUALITY AFFORDABLE HOUSING TO MEET THE NEEDS OF COMMUNITIES OF LOW-INCOME ASIAN AMERICAN POPULATIONS. ACDC NOW HAS 7 PROPERTIES IN ITS PORTFOLIO THAT INCLUDES 344 AFFORDABLE RENTALS.Expenses $692,060 · revenue $621,774
- YOUTH PROGRAMS INCLUDE A HIGH SCHOOL LEADERSHIP PROGRAM, ASIAN VOICES OF ORGANIZED YOUTH FOR COMMUNITY EMPOWERMENT (A-VOYCE), TRAINING YOUTH IN COMMUNITY LEADERSHIP AND ORGANIZING IN CHINATOWN AND THE GREATER BOSTON AREA. YOUTH ALSO HAVE OPPORTUNITIES TO LEARN ABOUT CULTURAL IDENTITY, COMMUNITY DEVELOPMENT, AND UNDERTAKE PLACEKEEPING ACTIVITIES, WHICH INCLUDE RESIDENT-LED PUBLIC ART PROJECTS AND CULTURAL EVENTS ADDRESSING COMMUNITY POWER AND IMPACTS OF GENTRIFICATION. ASIAN-AMERICAN IDENTIFYING HIGH SCHOOL YOUTH LEARN ENTREPRENEURSHIP SKILLS AND APPLY THESE SKILLS THROUGH RUNNING THEIR OWN YOUTH-LED BUSINESS PROVIDING WALKING TOURS OF CHINATOWN AND OTHER PROJECTS.Expenses $736,262
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 04-2988263
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1998
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20Z)
- Assets (IRS master file)
- $43,595,108
- Income (IRS master file)
- $7,063,358
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $4,785,869 | $3,733,823 | $43,595,108 | XML |
| 990 | December 2023 | $5,068,505 | $3,954,751 | $37,684,634 | XML |
| 990 | December 2022 | $3,536,365 | $3,083,157 | $35,500,054 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-2988263).
Questions about ASIAN COMMUNITY DEVELOPMENT CORP
- What is the EIN of ASIAN COMMUNITY DEVELOPMENT CORP?
- The employer identification number (EIN) of ASIAN COMMUNITY DEVELOPMENT CORP is 04-2988263.
- Is ASIAN COMMUNITY DEVELOPMENT CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to ASIAN COMMUNITY DEVELOPMENT CORP tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ASIAN COMMUNITY DEVELOPMENT CORP file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ASIAN COMMUNITY DEVELOPMENT CORP due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ASIAN COMMUNITY DEVELOPMENT CORP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of ASIAN COMMUNITY DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2024 names GEOFFREY WHY.
- Who are the officers and directors of ASIAN COMMUNITY DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2024 lists 16 people; 1 received compensation from the organization, the highest $134,149 (ANGIE LIOU, EXECUTIVE DIRECTOR).
- How much revenue does ASIAN COMMUNITY DEVELOPMENT CORP have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $4,785,869, expenses of $3,733,823 and total assets of $43,595,108 at year end.
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