Asian/American Economic Development Enterprises Inc in Monterey Park, California (CA)

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Asian/American Economic Development Enterprises Inc
Employer Identification Number (EIN)953214153
Name of OrganizationAsian/American Economic Development Enterprises Inc
Address216 W Garvey Ave Ste E, Monterey Park, CA 91754-1688
ActivitiesDescribed in section 170(b)1)(a)(vi) of the Code, Job training, counseling, or assistance
SubsectionEducational Organization
Ruling Date04/1978
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period11/2012
Assets$1,000,000 to $4,999,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$2,094,543
Amount of Income$381,216
Form 990 Revenue Amount$165,353
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Economic Development


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Amount of income in 2012: $381,216
Asian/American Economic Development Enterprises Inc: 

 $381,216
Other organizations performing similar types of work: 

 $623,666

Assets in 2012: $2,094,543
This organization: 

 $2,094,543
Other organizations performing similar types of work: 

 $2,159,711

Expenses in 2012: $175,235
Asian/American Economic Development Enterprises Inc: 

 $175,235
Other organizations performing similar types of work: 

 $483,294

Income to expenses ratio in 2012: 2.2
This organization: 

 2.2
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2002: 90.0%
Asian/American Economic Development Enterprises Inc: 

 90.0%
Other organizations performing similar types of work: 

 25.8%

Number of employees in 2012: 7
This organization: 

 7
Other organizations performing similar types of work: 

 4

Grants share in income in 2012: 0.0%
Asian/American Economic Development Enterprises Inc: 

 0.0%
Other organizations performing similar types of work: 

 28.9%

Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$165,353
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$10,102
Income from investment of tax-exempt bond proceeds$489
Royalties$0
Net rental income$142,441
Gross rents (Real / Personal)$246,131 / $0
Less: rental expenses (Real / Personal)$103,690 / $0
Rental income or (loss) (Real / Personal)$142,441 / $0
Net gain from sales of assets other than inventory$6,035
Gross amount from sales of assets other than inventory (Securities / Other)$118,208 / $0
Less: cost or other basis and sales expenses (Securities / Other)$112,173 / $0
Gain or (loss) (Securities / Other)$6,035 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$6,286
Statement of Functional Expenses (for 2012)
Total functional expenses$175,235
Compensation of current officers, directors, trustees, and key employees$45,685
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$129,550
Balance Sheet (for 2012)
Total assets$2,094,543
Total liabilities$641,099
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$632,016
Unsecured notes and loans payable to unrelated third parties$0
Other$9,083
Total net assets or fund balances$1,453,444
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002
Total revenue$176,919$70,244$103,073
Contributions, gifts, grants, and similar amounts received$17,820$20,524$10,610
Contributions to donor advised funds
Direct public support$17,820$20,524$10,610
Indirect public support$0$0$0
Government contributions (grants)$0$0$0
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$16,074$0$0
Dividends and interest from securities$1,900$10,169$19,656
Net rental income or (loss)$121,595$39,111$70,353
Gross rents$191,607$110,525$157,048
Less: rental expenses$70,012$71,414$86,695
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$4,530$69$-3,115
Gross amount from sales of assets other than inventory$17,312$10,682$3,568
Less: cost or other basis and sales expenses$12,782$10,613$6,683
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$15,000$371$5,569
Total expenses$181,996$172,576$170,365
Program services$163,796$155,319$153,338
Management and general$18,200$17,256$17,029
Fundraising$0$0$0
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$1,625,110$1,469,395$1,433,987
Excess or (deficit) for the year$-5,077$-102,332$-67,292
Net assets or fund balances at beginning of year$1,632,898$1,625,110$1,469,395
Other changes in net assets or fund balances$-2,711$-53,383$31,884
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$170,367$153,338$17,029$0
Grants paid from donor advised funds
Other grants and allocations$1,518
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$23,828$21,445$2,383$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$63,784$57,406$6,378$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$5,816$5,234$582$0
Payroll taxes$5,089$4,588$501$0
Professional fundraising fees$0$0$0$0
Accounting fees$2,976$2,678$298$0
Legal fees$0$0$0$0
Supplies$929$836$93$0
Telephone$2,521$2,269$252$0
Postage and shipping$1,024$922$102$0
Occupancy$17,405$15,664$1,741$0
Equipment rental and maintenance$10,691$9,622$1,069$0
Printing and publications$6,992$6,293$699$0
Travel$106$95$11$0
Conferences, conventions, and meetings$2,448$2,203$245$0
Interest$0$0$0$0
Depreciation, depletion, etc.$10,537$9,483$1,054$0
Other expenses not covered above$14,703$13,082$1,621$0
Balance Sheets
200020012002
Total assets$1,865,451$1,734,538$1,968,300
Cash - non-interest-bearing$0$7,816$1,748
Savings and temporary cash investments$61,012$0$0
Accounts receivable less allowance for doubtful accounts$6,350$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$201,640
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$0$0$0
Investments - publicly-traded securities
Investments - other securities$520,245$476,921$503,945
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$0$0$0
Land, buildings, and equipment less accumulated depreciation$1,275,739$1,247,701$1,260,667
Other assets, including program-related investments$2,105$2,100$300
Total liabilities$240,341$265,143$534,315
Accounts payable and accrued expenses$4,287$24,071$31,136
Grants payable$0$0$0
Deferred revenue$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$0$0$0
Mortgages and other notes payable$227,654$232,672$494,779
Other liabilities$8,400$8,400$8,400
Total liabilities and net assets/fund balances$1,865,451$1,734,538$1,968,300
Total net assets or fund balances$1,625,110$1,469,395$1,433,985
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002
Total revenue$176,919$70,244$103,072
Total revenue, gains, and other support per audited financial statements$176,919$70,244$103,072
Other expenses$0$0$0
Net unrealized gains on investments$0$0$0
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$0$0$0
Other revenue$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002
Total expenses$181,996$172,576$170,366
Total expenses and losses per audited financial statements$181,996$172,576$170,366
Other revenue$0$0$0
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$0
Other expenses$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20062
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$92,463
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$16,706
Dividends and interest from securities000000$000$0$2,950
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$70,353
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$-3,115
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$5,569
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2002)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
199920002001
Total$236,908$131,420$131,420
Gifts, grants, and contributions received$26,450$20,524$20,524
Membership fees received$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$15,000$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$195,458$110,525$110,525
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0
Other income$0$371$371
Lobbying Expenditures by Electing Public Charities (for 2002)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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3San Francisco Travel Association1 Front St Ste 2900, San Francisco, CA 94111-5333CA1947-10$25,516,799
4San Jose Convention & Vistors Bureau408 Almaden Blvd, San Jose, CA 95110-2709CA1985-08$6,678,347
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6City Of Huntington Beach Civic Improvement Corporation2000 Main Street, Huntington Beach, CA 92648CA1987-01$2,753,564
7Vermont-Slauson Economic Development Corporation1130 W Slauson Ave, Los Angeles, CA 90044-3710CA1980-08$2,394,394
8Spirit Of 76 IncPO BOX 1876, Junction City, KS 66441-6876KS1976-07$1,102,440
9Bridge Economic Development Corporation600 California St Ste 900, San Francisco, CA 94108-2706CA1995-12$778,010
10Asian/American Economic Development Enterprises Inc216 W Garvey Ave Ste E, Monterey Park, CA 91754-1688CA1978-04$381,216
11Florin Road Partnership A Nonprofit OrganizationPO BOX 231817, Sacramento, CA 95823-0413CA1997-03$297,366
12Wisconsin Business Development Finance Corporation100 River Pl1 Board Walkll, Monona, WI 53716WI1982-07$6,747,667
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18Washington County Economic Development Partnership, Washington County Economic Development Inc20 E Beau Street, Washington, PA 15301PA2006-12$2,476,170
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Number of organizations performing similar types of work
Alaska7
Alabama4
Arkansas8
Arizona5
California16
Colorado7
Connecticut3
District of Columbia3
Delaware3
Florida7
Georgia2
Iowa13
Idaho2
Illinois10
Indiana11
Kansas5
Kentucky8
Louisiana11
Massachusetts4
Maryland9
Maine3
Michigan11
Minnesota5
Missouri5
Mississippi5
Montana3
North Carolina13
North Dakota2
Nebraska3
New Hampshire3
New Jersey8
New Mexico2
New York18
Ohio10
Oklahoma2
Oregon1
Pennsylvania39
South Carolina5
South Dakota4
Tennessee3
Texas25
Utah3
Virginia8
Vermont5
Washington6
Wisconsin12
West Virginia6
International1
Total349

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