Nonprofit · EIN 47-4004081
ASIAN ENTREPRENEURSHIP FOUNDATION
Also known as ACE NEXTGEN
Tax-exempt · BOSTON, MA 02205
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $496,151 | $564,411 | -$68,260 | $128,211 | $67,451 | $60,760 |
| December 31, 2023 | 990 | $455,469 | $439,654 | $15,815 | $179,356 | $50,336 | $129,020 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $277,488
- Membership dues
- $31,035
- Program service revenue
- $218,663
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $105,575
- Salaries, compensation and benefits (total)
- $113,898
- Professional fundraising fees
- $0
- Accounting fees
- $23,288
- Travel
- $94,406
- Program services (functional)
- $240,351
- Management and general (functional)
- $324,060
Balance sheet and other
- Total assets, start of year
- $179,356
- Total assets, end of year
- $128,211
- Total liabilities, end of year
- $67,451
- Net assets, end of year
- $60,760
- Net assets without donor restrictions
- $60,760
- Gross receipts
- $496,151
- Employees
- 1
- Volunteers
- 30
- Year formed
- 2015
- 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 |
|---|---|---|---|
| ANH THI PHAM | DIRECTOR OF PARTNERSHIP Key employee | 40 | $105,575 |
| REAHMAN AFSHAR | DIRECTOR Trustee or director | 2 | $0 |
| MELODY CHEN | DIRECTOR Trustee or director | 2 | $0 |
| TRISTAN NGUYEN | DIRECTOR Trustee or director | 2 | $0 |
| CHEWY JANG | DIRECTOR Trustee or director | 2 | $0 |
| JOHN VICTORIA | DIRECTOR Trustee or director | 2 | $0 |
| FRANCES LUONG | DIRECTOR Trustee or director | 2 | $0 |
| MELVIN REYES | DIRECTOR Trustee or director | 2 | $0 |
| LAWRENCE YEH | DIRECTOR Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Angela Chang | Director Trustee or director | 10 | $2,750 |
| Melvin Reyes | Director Trustee or director | 10 | $0 |
| Adeel Afshar | Director Trustee or director | 10 | $0 |
| Chewy Jang | Director Trustee or director | 10 | $0 |
| Melody Chen | Director Trustee or director | 10 | $0 |
| John Victoria | Director Trustee or director | 10 | $0 |
| Frances Luong | Director Trustee or director | 10 | $0 |
| Minh Pham | Director Trustee or director | 10 | $0 |
| Cheuk Shian | Treasurer Officer | 10 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 51471, BOSTON, MA 02205-1471
- In care of
- % DAVID LOUIE
- Signed the 990
- DAVID LOUIE, DIRECTOR AND TREASURER
- Phone
- (508) 967-5835
- Website
- ACENEXTGEN.ORG
- Return prepared by
- Tristan CPA
Mission
OUR MISSION IS TO EMPOWER ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) ENTREPRENEURS AND BUSINESS OWNERS THROUGH EDUCATION, MENTORSHIP, AND COMMUNITY BUILDING.
Program accomplishments
- DURING THE YEAR, THE ORGANIZATION ADVANCED ITS EXEMPT PURPOSE OF SUPPORTING AND EMPOWERING ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) BUSINESS OWNERS AND ENTREPRENEURS BY ORGANIZING ITS ANNUAL AAPI BUSINESS LEADERSHIP CONFERENCE. THE EVENT SERVED AS A PLATFORM TO PROMOTE EDUCATION, MENTORSHIP, AND COLLABORATION WITHIN THE AAPI BUSINESS COMMUNITY. THE CONFERENCE FEATURED KEYNOTE SPEAKERS, PANEL DISCUSSIONS, AND WORKSHOPS ADDRESSING TOPICS SUCH AS BUSINESS GROWTH, ACCESS TO CAPITAL, INNOVATION, AND LEADERSHIP DEVELOPMENT. APPROXIMATELY 345 PARTICIPANTS ATTENDED, REPRESENTING AAPI-OWNED BUSINESSES FROM ACROSS THE REGION. THE PROGRAM FOSTERED ECONOMIC EMPOWERMENT, CROSS-SECTOR PARTNERSHIPS, AND PROFESSIONAL DEVELOPMENT CONSISTENT WITH THE ORGANIZATIONS CHARITABLE AND EDUCATIONAL MISSION.Expenses $127,677 · revenue $84,081
- DURING THE YEAR, THE ORGANIZATION ADVANCED ITS EXEMPT PURPOSE OF FOSTERING ECONOMIC GROWTH, LEADERSHIP DEVELOPMENT, AND COMMUNITY BUILDING AMONG ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) BUSINESS OWNERS AND ENTREPRENEURS. THE ORGANIZATION ORGANIZED A SERIES OF EDUCATIONAL WORKSHOPS, MASTERMIND GROUPS, AND BUSINESS RETREATS DESIGNED TO PROVIDE PROFESSIONAL DEVELOPMENT, PEER LEARNING, AND MENTORSHIP OPPORTUNITIES. THESE PROGRAMS EQUIPPED PARTICIPANTS WITH PRACTICAL SKILLS IN BUSINESS STRATEGY, FINANCIAL MANAGEMENT, MARKETING, AND LEADERSHIP, WHILE CREATING A SUPPORTIVE NETWORK FOR COLLABORATION AND SHARED GROWTH. THROUGH THESE INITIATIVES, THE ORGANIZATION CONDUCTED 34 WORKSHOPS FOR AAPI ENTREPRENEURS NATIONWIDE, EMPOWERING THEM TO STRENGTHEN THEIR BUSINESSES AND CONTRIBUTE TO THE BROADER ECONOMIC ADVANCEMENT OF THE AAPI COMMUNITY IN ALIGNMENT WITH ITS CHARITABLE AND EDUCATIONAL MISSION.Expenses $56,545 · revenue $41,656
- DURING THE YEAR, THE ORGANIZATION ADVANCED ITS EXEMPT PURPOSE OF PROMOTING ECONOMIC DEVELOPMENT AND ENTREPRENEURSHIP BY ORGANIZING EDUCATIONAL AND NETWORKING EVENTS FOR AAPI BUSINESS OWNERS AND ENTREPRENEURS ACROSS MULTIPLE CITY CHAPTERS. THESE EVENTS PROVIDED OPPORTUNITIES FOR PARTICIPANTS TO LEARN FROM INDUSTRY EXPERTS, SHARE BEST PRACTICES, AND BUILD STRATEGIC RELATIONSHIPS TO STRENGTHEN THEIR LOCAL BUSINESS COMMUNITIES. THE ORGANIZATION HOSTED 97 LOCAL CHAPTER EVENTS ATTENDED BY APPROXIMATELY 2,234 ATTENDEES, FEATURING WORKSHOPS ON BUSINESS PLANNING, ACCESS TO CAPITAL, MARKETING, AND LEADERSHIP DEVELOPMENT. THROUGH THESE PROGRAMS, THE ORGANIZATION FOSTERED COLLABORATION AMONG SMALL BUSINESS OWNERS AND ENCOURAGED INNOVATION AND SUSTAINABLE BUSINESS GROWTH CONSISTENT WITH ITS CHARITABLE AND EDUCATIONAL MISSION.Expenses $43,529 · revenue $59,872
- DURING THE YEAR, THE ORGANIZATION ADVANCED ITS EXEMPT PURPOSE OF PROMOTING ENTREPRENEURSHIP AND ECONOMIC EMPOWERMENT WITHIN THE ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) COMMUNITY BY LAUNCHING AND OPERATING A VIRTUAL BUSINESS ACCELERATOR PROGRAM. THE PROGRAM PROVIDED AAPI BUSINESS OWNERS AND ENTREPRENEURS WITH STRUCTURED MENTORSHIP, EDUCATIONAL WORKSHOPS, AND ACCESS TO CAPITAL RESOURCES DESIGNED TO SUPPORT BUSINESS GROWTH AND SUSTAINABILITY. THE ACCELERATOR ENGAGED 200 PARTICIPANTS NATIONWIDE AND FEATURED TRAINING MODULES ON BUSINESS PLANNING, MARKETING STRATEGY, FINANCIAL MANAGEMENT, AND LEADERSHIP DEVELOPMENT. PARTICIPANTS RECEIVED INDIVIDUALIZED COACHING FROM EXPERIENCED MENTORS AND INDUSTRY PROFESSIONALS. BY PROVIDING THESE CAPACITY-BUILDING RESOURCES, THE ORGANIZATION STRENGTHENED THE AAPI ENTREPRENEURIAL ECOSYSTEM AND FURTHERED ITS CHARITABLE AND EDUCATIONAL MISSION TO EXPAND ECONOMIC OPPORTUNITY AND REPRESENTATION FOR UNDERSERVED BUSINESS OWNERSExpenses $12,600 · revenue $33,053
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
- 47-4004081
- 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
- 2015
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W01)
- Assets (IRS master file)
- $128,211
- Income (IRS master file)
- $496,151
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $496,151 | $564,411 | $128,211 | XML |
| 990 | December 2023 | $455,469 | $439,654 | $179,356 | XML |
| 990 | December 2022 | $398,113 | $387,342 | $143,103 | IRS |
| 990 | December 2021 | $264,110 | $254,952 | $111,532 | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-EZ | 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 47-4004081).
Questions about ASIAN ENTREPRENEURSHIP FOUNDATION
- What is the EIN of ASIAN ENTREPRENEURSHIP FOUNDATION?
- The employer identification number (EIN) of ASIAN ENTREPRENEURSHIP FOUNDATION is 47-4004081.
- Is ASIAN ENTREPRENEURSHIP FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to ASIAN ENTREPRENEURSHIP FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ASIAN ENTREPRENEURSHIP FOUNDATION 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 ENTREPRENEURSHIP FOUNDATION 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 ENTREPRENEURSHIP FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who are the officers and directors of ASIAN ENTREPRENEURSHIP FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 9 people; 1 received compensation from the organization, the highest $105,575 (ANH THI PHAM, DIRECTOR OF PARTNERSHIP).
- How much revenue does ASIAN ENTREPRENEURSHIP FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $496,151, expenses of $564,411 and total assets of $128,211 at year end.
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