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Asian Art Foundation

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Arts, Culture and Humanities / Arts, Cultural Organizations - Multipurpose (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$110k (2023)

Expenses
$1.91k (2023)

Total Assets
$909k (2023)

Total Liabilities
$0 (2023)

Source: Form 990 tax filings from 2010 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$110,431
Expenses
$1,912
Net Income
$108,519
Net Assets
$908,652
Notable Sources of Revenue Percent of Total Revenue
Contributions $109,674
99.3%
Program Services $240
0.2%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $517
0.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $908,652
Total Liabilities $0
Net Assets $908,652
Compensation
Key Employees and Officers Compensation Related Other
Kevin Gao (Director) $0 $0 $0
Feng Wang (President) $0 $0 $0
Cathy Wei (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$331,072
Expenses
$118,957
Net Income
$212,115
Net Assets
$679,343
Notable Sources of Revenue Percent of Total Revenue
Contributions $328,240
99.1%
Program Services $1,200
0.4%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $1,632
0.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $679,343
Total Liabilities $0
Net Assets $679,343
Compensation
Key Employees and Officers Compensation Related Other
Kevin Gao (Director) $0 $0 $0
Feng Wang (President) $0 $0 $0
Cathy Wei (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$116,410
Expenses
$13,169
Net Income
$103,241
Net Assets
$466,458
Notable Sources of Revenue Percent of Total Revenue
Contributions $116,410
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $556,452
Total Liabilities $89,994
Net Assets $466,458
Compensation
Key Employees and Officers Compensation Related Other
Kevin Gao (Director) $0 $0 $0
Feng Wang (President) $0 $0 $0
Cathy Wei (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$177,093
Expenses
$29,366
Net Income
$147,727
Net Assets
$363,217
Notable Sources of Revenue Percent of Total Revenue
Contributions $177,093
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $449,794
Total Liabilities $86,577
Net Assets $363,217
Compensation
Key Employees and Officers Compensation Related Other
Ping Chen (Secretary) $0 $0 $0
Stephanie Li (Director) $0 $0 $0
Feng Wang (President) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$162,236
Expenses
$105,024
Net Income
$57,212
Net Assets
$215,490
Notable Sources of Revenue Percent of Total Revenue
Contributions $162,236
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $297,898
Total Liabilities $82,408
Net Assets $215,490
Compensation
Key Employees and Officers Compensation Related Other
Ping Chen (Secretary) $0 $0 $0
Stephanie Li (Director) $0 $0 $0
Feng Wang (President) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$74,110
Expenses
$503
Net Income
$73,607
Net Assets
$158,278
Notable Sources of Revenue Percent of Total Revenue
Contributions $74,110
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $188,756
Total Liabilities $30,478
Net Assets $158,278
Compensation
Key Employees and Officers Compensation Related Other
Feng Wang (President) $0 $0 $0
Stephanie Li (Director) $0 $0 $0
Ping Chen (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$55,368
Expenses
$60,081
Net Income
-$4,713
Net Assets
$84,671
Notable Sources of Revenue Percent of Total Revenue
Contributions $41,430
74.8%
Program Services $13,938
25.2%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $115,149
Total Liabilities $30,478
Net Assets $84,671
Compensation
Key Employees and Officers Compensation Related Other
Feng Wang (President) $0 $0 $0
Stephanie Li (Director) $0 $0 $0
Ping Chen (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$30,919
Expenses
$10,822
Net Income
$20,097
Net Assets
$89,384
Notable Sources of Revenue Percent of Total Revenue
Contributions $21,913
70.9%
Program Services $9,006
29.1%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $119,862
Total Liabilities $30,478
Net Assets $89,384
Compensation
Key Employees and Officers Compensation Related Other
Feng Wang (President) $0 $0 $0
Stephanie Li (Director) $0 $0 $0
Ping Chen (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$14,673
Expenses
$13,008
Net Income
$1,665
Net Assets
$69,287
Notable Sources of Revenue Percent of Total Revenue
Contributions $7,300
49.8%
Program Services $7,373
50.2%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $99,764
Total Liabilities $30,477
Net Assets $69,287
Compensation
Key Employees and Officers Compensation Related Other
Feng Wang (President) $0 $0 $0
Stephanie Li (Director) $0 $0 $0
Ping Chen (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$18,911
Expenses
$1,289
Net Income
$17,622
Net Assets
$67,622
Notable Sources of Revenue Percent of Total Revenue
Contributions $18,773
99.3%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $138
0.7%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $94,317
Total Liabilities $26,695
Net Assets $67,622
Compensation
Key Employees and Officers Compensation Related Other
Feng Wang (President) $0 $0 $0
Stephanie Li (Director) $0 $0 $0
Ping Chen (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$14,304
Expenses
$19,154
Net Income
-$4,850
Net Assets
$50,000
Notable Sources of Revenue Percent of Total Revenue
Contributions $9,300
65.0%
Program Services $5,004
35.0%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $76,694
Total Liabilities $26,694
Net Assets $50,000
Compensation
Key Employees and Officers Compensation Related Other
Feng Wang (President) $0 $0 $0
Stephanie Li (Director) $0 $0 $0
Ping Chen (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,313,779
Expenses
$1,313,341
Net Income
$438
Net Assets
$54,850
Notable Sources of Revenue Percent of Total Revenue
Contributions $96,574
7.4%
Program Services $1,202,276
91.5%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $14,929
1.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $321,101
Total Liabilities $266,251
Net Assets $54,850

Document Links

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$445,117
Expenses
$388,314
Net Income
$56,803
Net Assets
$54,615
Notable Sources of Revenue Percent of Total Revenue
Contributions $105,189
23.6%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $339,928
76.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,140,618
Total Liabilities $1,086,003
Net Assets $54,615

Document Links

Fiscal Year Ending Dec.
2010

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$433,803
Expenses
$436,092
Net Income
-$2,289
Net Assets
-$2,188
Notable Sources of Revenue Percent of Total Revenue
Contributions $39,721
9.2%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $394,082
90.8%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $521,602
Total Liabilities $523,790
Net Assets -$2,188

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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