2020-04-10T09:51:54-05:00 2019-06-30 521392008 GELMAN ROSENBERG & FREEDMAN 4550 MONTGOMERY AVE SUITE 800N BETHESDA MD 208142930 990 2018-07-01 571192973 ASIAN AND PACIFIC ISLANDER AMERICAN SCHOLARSHIP FUND ASIA 2027150795 2025 M STREET NW NO 610 WASHINGTON DC 20036 ELENA ANDERSON CHIEF OPERATING OFFICER 2027150795 2020-04-10 1 RICHARD J LOCASTRO CPA P00288314 3019519090 75.103.231.202 2020-04-10 10:51:47 ED P 8A04992F9AA5330EDB38CCF362EE047B41C21F8B EF3E61DA19F4BB256B54258A4A409CDD4C91D73D 2018 2021-01-29 14:40:06Z NOEL HARMON 2025 M STREET NW NO 610 WASHINGTON DC 20036 16411272 0 X WWW.APIASF.ORG X 2003 DC SEE PART III, LINE 1. 23 23 24 513 0 0 19336088 16340921 0 0 19806 42016 -75027 -119245 19280867 16263692 15994341 13691556 0 0 1614214 1856012 0 0 212185 1345809 1615594 18954364 17163162 326503 -899470 7579213 11330880 1919327 6567559 5659886 4763321 X OUR VISION IS TO SEE THAT ALL ASIAN AMERICAN AND PACIFIC ISLANDERS HAVE ACCESS TO HIGHER EDUCATION AND RESOURCES THAT CULTIVATE THEIR ACADEMIC, PERSONAL AND PROFESSIONAL SUCCESS REGARDLESS OF THEIR ETHNICITY, NATIONAL ORIGIN OR FINANCIAL MEANS. (SEE SCHEDULE O) 0 0 14661924 13691556 APIASF MANAGES THREE SCHOLARSHIP PROGRAMS: APIASF'S GENERAL SCHOLARSHIP, APIASF AANAPISI (ASIAN AMERICAN AND NATIVE AMERICAN PACIFIC ISLANDER-SERVING INSTITUTIONS) SCHOLARSHIP AND THE GATES MILLENNIUM SCHOLARS/ASIAN PACIFIC ISLANDER AMERICANS (GMS/APIA) FUNDED BY A GRANT FROM THE BILL & MELINDA GATES FOUNDATION. THROUGH THESE PROGRAMS, APIASF HAS DISTRIBUTED MORE THAN $110 MILLION IN COLLEGE SCHOLARSHIPS TO MORE THAN 6,600 DESERVING ASIAN AND AMERICAN PACIFIC ISLANDER (AAPI) STUDENTS ACROSS THE COUNTRY AND IN THE PACIFIC ISLANDS. APIASF CONTINUES TO HAVE THE LARGEST OUTREACH NATIONWIDE TO THE AAPI COMMUNITIES PROVIDING SCHOLARSHIPS TO THE MOST UNDER SERVED INDIVIDUALS THROUGH ITS GENERAL AND GMS/APIA PROGRAMS. REALIZING THROUGH EVIDENCED BASED RESEARCH OVER 50% OF AAPIS ATTEND TWO-YEAR INSTITUTIONS, ONE POTENTIAL AREA OF GREATEST IMPACT APIASF HAS IS WITH STUDENTS ATTENDING TWO-YEAR INSTITUTIONS. THESE CAMPUSES ARE DEFINED BY AT LEAST A 10% AAPI ENROLLMENT AND A MINIMUM THRESHOLD OF LOW-INCOME STUDENTS AND/OR A LOWER THAN AVERAGE EDUCATIONAL AND GENERAL EXPENDITURES PER STUDENT. APIASF IS DECISIVELY PARTNERING WITH AANAPISI CAMPUSES TO PROVIDE SCHOLARSHIPS AND OVER TIME AIMS TO BECOME THE ONLY NATIONAL SCHOLARSHIP ORGANIZATION WITH LINKAGES TO AANAPISIS AND THE COMMUNITIES THEY SERVE. 1550374 IN ADDITION TO SCHOLARSHIP SUPPORT, APIASF HAS A COMPREHENSIVE RANGE OF PROGRAMS THAT INCLUDE RESEARCH AND DATA COLLECTION, NATIONAL HIGHER EDUCATION CONVENINGS, WRAP-AROUND SERVICES TO MAXIMIZE GRADUATION RATES AND GAINFUL EMPLOYMENT, AND COMMUNICATIONS STRATEGIES THAT WILL BETTER INFORM POLICY LEADERS, CAMPUS ADMINISTRATORS AND THE GENERAL PUBLIC TO HELP IMPROVE EDUCATIONAL OPPORTUNITIES FOR AAPI STUDENTS.TO ENSURE DELIVERY OF EFFECTIVE STUDENT SUPPORT SERVICES AND INITIATIVES THAT MEET THE NEEDS OF OUR SCHOLARSHIP RECIPIENTS, ONGOING EVALUATIONS ARE CONDUCTED THROUGHOUT THE YEAR BY APIASF. PROVIDING A SAFE SPACE IN WHICH OUR SCHOLARS ARE COMFORTABLE VOICING THEIR NEEDS AND EXPERIENCES IS A CRITICAL ELEMENT TO THE FOUNDATION OF PROGRAMS BEING ADMINISTERED YEAR-TO-YEAR. APIASF TEAM MEMBERS COLLABORATE IN SCHOLAR AND SOCIAL NETWORKS THAT PROVIDE SOUND RESEARCH AND BEST PRACTICES IN SUPPORTING ASIAN AMERICAN AND PACIFIC ISLANDERS STUDENTS' ACADEMIC, PERSONAL, SOCIAL, CULTURAL, AND PROFESSIONAL DEVELOPMENT AND SUCCESS. 16212298 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 4 0 1 24 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 23 23 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AL AR CA FL GA HI IL KS KY MD MA MI MN MS NH NJ NM NY NC OR PA RI SC TN UT VA WV WI X X ELENA ANDERSON 2027150795 2025 M STREET NW NO 610 WASHINGTON DC 20036 KIMO KIPPEN BOARD CHAIR 10.00 X X 0 0 0 KEN BARRETT BOARD MEMBER 2.00 X 0 0 0 EUGENE CHASIN BOARD MEMBER 2.00 X 0 0 0 SUSAN JIN DAVIS BOARD MEMBER 2.00 X 0 0 0 WAI-LING ENG BOARD MEMBER 2.00 X 0 0 0 JIMMY FERGUSON BOARD MEMBER 2.00 X 0 0 0 NAHO KOBAYASHI BOARD MEMBER 2.00 X 0 0 0 SK GUPTA BOARD MEMBER 2.00 X 0 0 0 MAHRUKH HUSSAIN BOARD MEMBER 2.00 X 0 0 0 VICTOR KUO BOARD MEMBER 2.00 X 0 0 0 CELINA YUNWEI LI BOARD MEMBER 2.00 X 0 0 0 BETTY LO BOARD MEMBER 2.00 X 0 0 0 MARTY LORENZO BOARD MEMBER 2.00 X 0 0 0 AIMEE MEHER-HOMJI BOARD MEMBER 2.00 X 0 0 0 DOUG MURTHA BOARD MEMBER 2.00 X 0 0 0 HARSHA MURTHY BOARD MEMBER 2.00 X 0 0 0 KIYOSHI NAKASAKA BOARD MEMBER 2.00 X 0 0 0 CHITRA NAWBATT BOARD MEMBER 2.00 X 0 0 0 JUN S OH BOARD MEMBER 2.00 X 0 0 0 ARATI RANDOLPH BOARD MEMBER 2.00 X 0 0 0 ALBERT SEECHARAN BOARD MEMBER 2.00 X 0 0 0 TIFFANY SMITH-ANOA'I BOARD MEMBER 2.00 X 0 0 0 ROBERT UNDERWOOD BOARD MEMBER 2.00 X 0 0 0 NOEL HARMON PRESIDENT & EXECUTIVE DIRECTOR 40.00 X 144291 0 13441 ELENA ANDERSON CHIEF OPERATING OFFICER 40.00 X 137153 0 9567 NEIL HORIKOSHI FORMER PRESIDENT &EXECUTIVE DIRECTOR 40.00 X 233437 0 13019 514881 0 36027 3 1 1 0 0 122818 16218103 96365 16340921 42016 42016 24766 122818 147580 -122814 -122814 MISCELLANEOUS 900099 3569 3569 3569 16263692 0 0 -77229 13691556 13691556 440000 132001 198722 109277 1187418 1144474 16181 26763 13378 11392 625 1361 90168 87624 654 1890 125048 99368 14277 11403 35343 17672 17671 440675 273637 166470 568 25680 24594 790 296 134589 89147 41754 3688 265219 114141 140128 10950 202367 161975 40392 213689 190731 22089 869 137746 129498 8248 1603 1603 6172 3086 3086 IN-KIND GOODS 96365 56998 39367 HONORARIUM 24000 24000 EQUIPMENT MAINTENANCE 18796 13420 1369 4007 PAYROLL PROCESSING 6506 3982 1127 1397 6844 6495 349 17163162 16212298 738679 212185 855331 5538849 4593066 3555322 1381679 1573584 75826 77023 8017 7349 2271 668 656484 570878 14556 14556 7579213 11330880 122826 131377 1721386 1710275 75115 4725907 1919327 6567559 X 2404747 1761797 3255139 3001524 5659886 4763321 7579213 11330880 -899470 2905 0 X 0 1 X 1 0 X 18091146 18953031 20149578 19336088 16340921 92870764 18091146 18953031 20149578 19336088 16340921 92870764 2816985 90053779 8071 9539 15989 19806 42016 95421 1381 1352 14532 3569 20834 92987019 0.96850 0.96870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8017 7349 668 668 X 16266597 2905 2905 16263692 0 16263692 17163162 0 17163162 0 17163162 PART X, LINE 2: FOR THE YEAR ENDED JUNE 30, 2019, APIASF HAS DOCUMENTED ITS CONSIDERATION OF FASB ASC 740-10, INCOME TAXES, THAT PROVIDES GUIDANCE FOR REPORTING UNCERTAINTY IN INCOME TAXES AND HAS DETERMINED THAT NO MATERIAL UNCERTAIN TAX POSITIONS QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. GALA 147584 122818 24766 24285 64203 59092 147584 122818 24766 24285 64203 59092 147580 -122814 1 SCHOLARSHIPS FOR UNDERGRADUATE AND GRADUATE STUDENTS 1208 13691556 PART I, LINE 2: THE ORGANIZATION ISSUES FOUR TYPES OF SCHOLARSHIPS: 1) A FLAT AMOUNT TO FRESHMAN STUDENTS ONLY; 2) TWO YEAR, FOUR YEAR MULTIYEAR SCHOLARSHIPS, 3) SCHOLARSHIPS THAT MAY BE RENEWED WITH EVIDENCE OF COURSE COMPLETION WITH ACCEPTABLE GRADE POINT AVERAGE; 4) LAST DOLLAR AMOUNT MULTI-YEAR SCHOLARSHIPS ADMINISTERED THROUGH THE GATES MILLENIUM SCHOLARSHIP PROGRAM. THE ORGANIZATION HAS FULL TIME STAFF AND A SCHOLARSHIP COMMITTEE TO REVIEW, MONITOR AND EVALUATE THE SUCCESS OF ITS SCHOLARSHIP AWARDS. X X X 0 0 0 0 0 0 0 1 0 NOEL HARMON PRESIDENT & EXECUTIVE DIRECTOR 144291 0 0 0 0 0 0 0 13441 0 157732 0 0 0 NEIL HORIKOSHI FORMER PRESIDENT &EXECUTIVE DIRECTOR 93437 0 80000 0 60000 0 0 0 13019 0 246456 0 0 0 PART I, LINE 7 ELENA ANDERSON, CHIEF OPERATING OFFICER, RECEIVED A BONUS OF $20,000. THIS AMOUNT HAS BEEN INCLUDED IN HER REPORTABLE COMPENSATION ON FORM 990, PART VII, SECTION A. NEIL HORIKOSHI, FORMER PRESIDENT & EXECUTIVE DIRECTOR, RECEIVED A BONUS OF $80,000 AND A RETENTION BONUS OF $60,000. THESE AMOUNTS HAVE BEEN INCLUDED IN HIS REPORTABLE COMPENSATION ON FORM 990, PART VII, SECTION A. X AUCTION ITEMS 58 96365 FMV 0 0 0 0 PART I, COLUMN (B): THIS COLUMN REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART III, LINE 1 OUR MISSION IS TO MAKE A DIFFERENCE IN THE LIVES OF AAPI STUDENTS BY PROVIDING THEM WITH RESOURCES THAT INCREASE THEIR ACCESS TO HIGHER EDUCATION WHICH SERVES AS THE FOUNDATION FOR THEIR FUTURE SUCCESS AND CONTRIBUTIONS TO A STRONGER AMERICA. WE CARRY OUT OUR MISSION BY: - PROVIDING SCHOLARSHIPS TO AAPI STUDENTS; - FORGING PARTNERSHIPS AMONG CORPORATIONS, FOUNDATIONS, COMMUNITY ORGANIZATIONS AND INDIVIDUALS TO PROVIDE ADEQUATE FINANCIAL AND OTHER RESOURCES TO CARRY OUT OUR MISSION; - PROVIDING GUIDANCE, MENTORSHIP AND PROGRAMS TO FACILITATE STUDENTS' ACADEMIC SUCCESS, LEADERSHIP AND PROFESSIONAL GROWTH; - ESTABLISHING STRATEGIC ALLIANCES WITHIN AAPI AND EDUCATIONAL COMMUNITIES; AND - BUILDING A CLEARINGHOUSE OF HIGHER EDUCATION RESEARCH ON AAPI HIGH SCHOOL AND COLLEGE STUDENTS AND CONTINUE TO INCREASE AWARENESS OF AAPI EDUCATION ISSUES AND CHALLENGES. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS 13 FOUNDING MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH FOUNDING MEMBER HAS THE RIGHT TO APPOINT ONE DIRECTOR TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY THE OUTSIDE ACCOUNTANTS. THE EXECUTIVE COMMITTEE AND FINANCE COMMITTEE REVIEWED DRAFTS OF THE FORM 990 AS IT WAS BEING COMPLETED. THE ORGANIZATION PROVIDED A COMPLETE COPY OF THE FORM 990 TO ALL MEMBERS OF ITS GOVERNING BODY BEFORE FILING THE FORM. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND EMPLOYEES ARE RESPONSIBLE FOR DISCLOSING ALL POSSIBLE AND POTENTIAL CONFLICTS OF INTEREST. SUCH DISCLOSURE IS MADE TO THE EXECUTIVE DIRECTOR. DISCLOSURE MAY BE ORAL OR IN WRITING. THE EXECUTIVE DIRECTOR EVALUATES THE SITUATION AND MAKES A DETERMINATION AS TO WHETHER A CONFLICT OR PERCEIVED CONFLICT EXISTS. WHEN PRESENTED WITH A QUESTIONABLE SITUATION, THE EXECUTIVE DIRECTOR CONSULTS THE CHAIRPERSON OF THE BOARD OF DIRECTORS. IF IT IS DETERMINED THAT AN ACTUAL OR PERCEIVED CONFLICT EXISTS, THE INTERESTED PERSON REMOVES HIM/HERSELF FROM ALL INVOLVEMENT IN THE SITUATION OR DECISION - INCLUDING NOT BEING PRESENT DURING RELATED DISCUSSIONS, NOT DISCUSSING THE SITUATION OR EXPRESSING AN OPINION TO STAFF OR BOARD MEMBERS WHO WILL MAKE THE DECISION. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANIZATION'S HUMAN RESOURCES COMMITTEE DETERMINES THE COMPENSATION FOR THE PRESIDENT/EXECUTIVE DIRECTOR AFTER REVIEWING COMPARABLE COMPENSATION DATA. THE ORGANIZATION ENTERS INTO A WRITTEN EMPLOYMENT AGREEMENT WITH THE PRESIDENT/EXECUTIVE DIRECTOR UPON HIRE. ALL DELIBERATIONS REGARDING THE PRESIDENT/EXECUTIVE DIRECTOR'S COMPENSATION SUBSEQUENT TO HIRE ARE CONTEMPORANEOUSLY DOCUMENTED. THE ORGANIZATION'S BOARD OF DIRECTORS RETAINED A PROFESSIONAL RECRUITING FIRM TO ATTRACT AND OBTAIN THE CURRENT PRESIDENT/EXECUTIVE DIRECTOR. THE ORGANIZATION DOES NOT PAY COMPENSATION TO ANY OF ITS OFFICERS OTHER THAN THE PRESIDENT/EXECUTIVE DIRECTOR, VICE PRESIDENT OF DEVELOPMENT AND THE VICE PRESIDENT OF FINANCE. THE PRESIDENT/EXECUTIVE DIRECTOR IS RESPONSIBLE FOR HIRING AND SETTING THE COMPENSATION FOR ALL OTHER EMPLOYEES. THE LAST COMPENSATION REVIEW TOOK PLACE IN NOVEMBER 2018. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.