2024-07-03T10:00:02-05:00 2023-12-31 HAN GROUP LLC 1020 19TH STREET NW SUITE 800 WASHINGTON DC 20036 990 2023-01-01 462071116 ASIAN & PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE & ENTREPRENEURSHIP ASIA 2022042579 1300 PENNSYLVANIA AVENUE NW 700 WASHINGTON DC 20004 CHILING TONG PRESIDENT AND CEO 2022042579 2024-07-03 1 CHILING TONG 999009999 1 JENNIFER S HAN P00633304 2022937000 2024-07-01 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z X NATIONAL ACE CHILING TONG 1300 PENNSYLVANIA AVENUE NW 700 WASHINGTON DC 20004 2061081 0 X WWW.NATIONALACE.ORG X 2013 DC ADVANCE THE ASIAN AMERICAN AND PACIFIC ISLANDER BUSINESS COMMUNITY BY FOSTERING ECONOMIC GROWTH. 23 22 9 24 0 0 887677 1253590 1831034 789000 0 17491 0 1000 2718711 2061081 391150 0 0 0 1149382 979782 0 0 0 1282019 1209110 2822551 2188892 -103840 -127811 1985693 1725009 254874 119582 1730819 1605427 TO IMPROVE THE QUALITY OF LIFE FOR ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) BY ASSISTING THE AAPI COMMUNITY THROUGH BUSINESS EDUCATION AND TRAINING, RESEARCH, AND COMMUNITY DEVELOPMENT. 0 0 AAPISTRONG - THE NATIONAL ACE WORKS WITH ASIAN AMERICAN AND PACIFIC ISLANDER BUSINESS COMMUNITIES THROUGH OUR VIRTUAL TECHNICAL ASSISTANCE PROGRAM TO PROVIDE SMALL BUSINESSES AND ENTREPRENEURS THE RESOURCES AND EDUCATION THEY NEED TO BE SUCCESSFUL. ACE'S GOAL IS TO HELP ORGANIZATIONS DEVELOP EFFECTIVE COMMUNICATIONS, MARKETING, AND SOCIAL MEDIA BY TEACHING AND ONE-ON-ONE CONSULTING TO CHAMBERS, NON-PROFIT GROUPS, AND SMALL BUSINESSES WHO WANT TO TRANSITION TO DIGITAL PLATFORMS. ACE ALSO SUPPORTS MINORITY BUSINESS ENTERPRISES AND AAPI CHAMBERS OF COMMERCE BY INVESTING IN LOCAL COMMUNITIES WHILE WORKING TO IMPROVE THE WELL-BEING, ECONOMIC RESILIENCE, AND MOBILITY OF THE MINORITY BUSINESS COMMUNITY. CONFERENCES AND SUMMITS - THE NATIONAL ACE AAPISTRONG ANNUAL CONFERENCE BROUGHT TOGETHER ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) ENTREPRENEURS, SMALL BUSINESS OWNERS, LOCAL AAPI CHAMBERS OF COMMERCE FROM AROUND THE COUNTRY, CORPORATE PARTNERS, AND COMMUNITY LEADERS TO ENGAGE IN LEADERSHIP PROGRAMMING AND NETWORK BUILDING. PARTICIPANTS WILL DISCOVER INNOVATIVE OPPORTUNITIES FOR CAPITAL BUILDING, RECEIVE LEGISLATIVE UPDATES, AND HEAR INSPIRING STORIES FROM ENTREPRENEURS IN THE COMMUNITY. NATIONAL ACE ALSO HOSTS OTHER EVENTS AND SUMMITS FOR SMALL BUSINESS OWNERS FOR ACCESS TO CAPITAL, INVESTING IN AANHPI BUSINESSES, AND STAYING COMPETITIVE IN A DIGITAL WORLD. SPECIAL PROJECTS - THE NATIONAL ACE ENGAGES IN SPECIAL PROJECTS TO SUPPORT AANHPI SMALL BUSINESS OWNERS ACROSS INDUSTRIES BY PROVIDING CASH GRANTS. WE PROVIDE FUNDING TO ELIGIBLE SMALL BUSINESS OWNERS TO PROVIDE WORKING CAPITAL FOR THEIR COMPANIES TO GROW AND ECONOMICALLY THRIVE. 0 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 21 0 1 9 1 0 0 0 0 1 1 0 0 0 X 23 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X CHILING TONG 2022042579 1300 PENNSYLVANIA AVENUE NW NO 700 WASHINGTON DC 20004 PAT FONG KUSHIDA DIRECTOR/CONSULTANT 1.00 X 37448 0 0 THEAR SUZUKI CHAIR 2.00 X X 0 0 0 GARRETT GIN CHAIR-ELECT 2.00 X X 0 0 0 GRACE LEE TREASURER 2.00 X X 0 0 0 ANGELA CHANG SECRETARY 2.00 X X 0 0 0 MARIKO CARPENTER DIRECTOR (THROUGH JUNE 2023) 1.00 X 0 0 0 ED CHAN DIRECTOR 1.00 X 0 0 0 JASON CHAN DIRECTOR 1.00 X 0 0 0 ANDREW CHAU DIRECTOR 1.00 X 0 0 0 SUSAN JIN DAVIS DIRECTOR 1.00 X 0 0 0 KAREN ENG DIRECTOR 1.00 X 0 0 0 FA'AVAE FA'AVAE DIRECTOR 1.00 X 0 0 0 JIMMY FERGUSON DIRECTOR 1.00 X 0 0 0 JACOB HSU DIRECTOR 1.00 X 0 0 0 KAREN IDENO DIRECTOR 1.00 X 0 0 0 BILL IMADA DIRECTOR 1.00 X 0 0 0 JOON KIM DIRECTOR (AS OF FEB 2023) 1.00 X 0 0 0 CHRIS LAW DIRECTOR 1.00 X 0 0 0 ROBERTO LLAMES DIRECTOR 1.00 X 0 0 0 MICHELLE MI DIRECTOR 1.00 X 0 0 0 SANDEEP NAIN DIRECTOR (AS OF OCT 2023) 1.00 X 0 0 0 AMAR SHOKEEN DIRECTOR 1.00 X 0 0 0 WALLACE TSUHA DIRECTOR (THROUGH JULY 2023) 1.00 X 0 0 0 HELENE YAN DIRECTOR 1.00 X 0 0 0 VIVIAN YOUNG DIRECTOR (AS OF OCT 2023) 1.00 X 0 0 0 CHILING TONG PRESIDENT AND CEO 40.00 X 253809 0 6811 EMILY FUDER VP OF PROGRAMS AND MARKETING 40.00 X 111221 0 3270 402478 0 10081 2 0 1 1 PUBLIC PRIVATE STRATEGIES 776 GIRARD STREET NW WASHINGTON DC 20001 POLICY CONSULTING 120000 GOLDEN CATALYST 2505 ANTHEM VILLAGE DRIVE SUITE E- HENDERSON NV 89052 CONSULTING 107375 2 155559 1098031 1253590 MANAGEMENT FEES 900099 460000 460000 PROGRAM SERVICE FEES 900099 329000 329000 789000 17491 17491 MISCELLANEOUS REVENUE 900099 1000 1000 1000 2061081 789000 0 18491 X 322068 560075 1576 34920 61143 5375 79943 2 772157 600 35547 1107 18327 85549 154983 2444 5679 SUBSCRIPTIONS 39815 DUES & MEMBERSHIPS 6824 LICENSE & PERMITS 758 2188892 1517061 717337 195932 25000 29331 22700 9218 8150 3512 1068 519907 410789 268065 1985693 1725009 179868 119582 75006 0 254874 119582 X 1248319 1230427 482500 375000 1730819 1605427 1985693 1725009 -127811 2419 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9218 8150 1068 1068 DUE FROM AFFILIATE 267225 DEPOSITS 840 268065 X PART X, LINE 2: THE ORGANIZATION FOLLOWS THE AUTHORITATIVE GUIDANCE RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES INCLUDED IN ACCOUNTING STANDARDS CODIFICATION TOPIC 740-10, INCOME TAXES. THESE PROVISIONS PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. IT IS THE ORGANIZATION'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSES. THE ORGANIZATION PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED DECEMBER 31, 2023 AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. THE STATUTE OF LIMITATIONS GENERALLY REMAINS OPEN FOR THREE TAX YEARS WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH THE ORGANIZATION FILES TAX RETURNS. X X 0 0 0 CHILING TONG PRESIDENT AND CEO 237809 0 16000 0 0 0 0 0 0 0 253809 0 0 0 FORM 990, PART VII, LINE 5: PAT FONG KUSHIDA, A DIRECTOR AND CONSULTANT, RECEIVED $37,448 FOR HER SERVICES RENDERED TO THE ORGANIZATION FROM AN UNRELATED ORGANIZATION IN 2023. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY OUTSIDE ACCOUNTANTS AND REVIEWED BY THE PRESIDENT & CEO AND THE BOARD OF DIRECTORS BEFORE FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS ANNUALLY SIGNS A STATEMENT WHICH AFFIRMS SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY; B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY, AND D. UNDERSTANDS THE ORGANIZATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. TO ENSURE THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS ARE CONDUCTED. THE PERIODIC REVIEW, AT A MINIMUM, INCLUDES THE FOLLOWING SUBJECTS: A. WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION, AND THE RESULT OF ARM'S LENGTH BARGAINING. B. WHETHER PARTNERSHIPS, JOINT VENTURES, AND ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS CONFORM TO THE ORGANIZATION'S WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER CHARITABLE PURPOSES AND DO NOT RESULT IN INURNMENT, IMPERMISSIBLE PRIVATE BENEFIT OR IN AN EXCESS BENEFIT TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 ACE'S BOARD OF DIRECTORS CREATES A COMPENSATION COMMITTEE TO REVIEW COMPENSATION FINDINGS AND PROVIDE RECOMMENDATIONS AND GUIDANCE ON THE COMPENSATION PACKAGE. AFTER REVIEWING THE REPORT FINDINGS AND CONSIDERING THE DATA REGARDING COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED INDIVIDUALS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS, THE COMPENSATION COMMITTEE TAKES ACTION AND RECOMMENDS THE COMPENSATION PACKAGE FOR THE CEO. THE PROCESS WAS LAST CONDUCTED IN NOVEMBER 2021. THE PROCESS FOR DETERMINING THE COMPENSATION OF THE COO INCLUDES ALL OF THE FOLLOWING ELEMENTS: 1. REVIEWING THE ORGANIZATION'S STRUCTURE, INCLUDING THE OPERATING BUDGET, KEY METRICS, AND INDUSTRY. 2. REVIEWING AVAILABLE POSITION DESCRIPTIONS AND ORGANIZATIONAL CHARTS TO IDENTIFY JOB DUTIES AND RESPONSIBILITIES. 3. IDENTIFYING AND ANALYZING COMPENSATION DATA FROM PUBLISHED INDUSTRY SOURCES AND PEER NATIONAL DATA, BOTH FOR BASE SALARY AND TOTAL CASH COMPENSATION (ANNUAL BASE PLUS ANNUAL BONUS). ADDITIONALLY, MARKET FINDINGS FOR THE COO AND FOR ACE'S OTHER CLASSIFICATIONS ARE PRESENTED TO ACE'S CEO FOR REVIEW AND DISCUSSION. BASED ON A DISCUSSION WITH ACE'S CEO REGARDING THE COO'S JOB PERFORMANCE, TENURE WITH THE ORGANIZATION, AND HIS ROLE AS A KEY CONTRIBUTOR TO THE ORGANIZATION, AN ANNUAL ADJUSTMENT FOR THE COO'S 2022 BASE PAY WAS MADE. THE PROCESS WAS LAST CONDUCTED IN NOVEMBER 2021. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION, UPON REQUEST, MAKES AVAILABLE ITS FORM 990 AND ALL OTHER DOCUMENTS REQUIRED BY LAW TO BE MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS AND ANY POLICY DOCUMENTS ARE PROVIDED TO THE INTERESTED PARTIES, SUCH AS FUNDERS, UPON REQUEST. THE BOARD OF DIRECTORS RESERVES THE RIGHT TO EVALUATE THE NECESSITY OF EACH SUCH REQUEST FOR FINANCIAL STATEMENTS AND POLICY DOCUMENTS AND TO DETERMINE, IN ITS SOLE DISCRETION, WHETHER TO RELEASE THESE DOCUMENTS TO AN OUTSIDE PARTY. FORM 990, PART IX, LINE 11G CHAMBER PARTNERSHIPS 205,125. CONSULTING SERVICES 197,468. PROGRAM MANAGEMENT 130,960. POLICY CONSULTING 120,000. CORPORATE SPONSORSHIP CONSULTING 100,000. PAYROLL PROCESSING 7,854. PHOTOGRAPHY 6,250. PROFESSIONAL DEVELOPMENT 4,000. AUDIO VISUAL 500. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.