Asian Community Development Corp: Financials & Form 990

Revenue by fiscal year
FY2020	$3.2M
FY2021	$3.9M
FY2022	$3.5M
FY2023	$5.1M
FY2024	$4.8M

Expenses by fiscal year
FY2020	$2.3M
FY2021	$2.3M
FY2022	$3.1M
FY2023	$4.0M
FY2024	$3.7M

Net assets by fiscal year
FY2020	$21.0M
FY2021	$22.7M
FY2022	$22.9M
FY2023	$24.1M
FY2024	$24.7M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1998.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

74 cents of each dollar spent went to programs.

74%

20%

Program services 74% · $2.7M Management & general 20% · $758K Fundraising 6% · $231K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

16 people listed on the 990; $134K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation

Angie Liou

Executive Director

$134,149Pt VII · Sec A

Danielle Kim

Director

$0Pt VII · Sec A

Emily Yu

Vice Chair

$0Pt VII · Sec A

Eugene Ho

Treasurer

$0Pt VII · Sec A

Geoffrey Why

Chair

$0Pt VII · Sec A

Helen Han

Director (until 09/2024)

$0Pt VII · Sec A

Jarone Lee

Director

$0Pt VII · Sec A

Jeffrey Hsi

Director

$0Pt VII · Sec A

Angie Liou’s $134K as Executive Director is at the 61st percentile of top reported officer pay among 2036 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

Name	FY2024	FY2023	FY2022	FY2021	FY2020
Angie Liou	$134,149	$134,704	$103,033	$121,242	$128,354
Kyle Sullivan	—	—	$113,098	$100,750	—
Patrick Sullivan	—	—	—	—	$106,962

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization, with a nickname or small spelling change read as the same person. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Asian Community Development Corp executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Updates and questions

Builds affordable homes and empowers Asian American communities in Boston.

Our summary of the filed mission and programs (Form 990 Part III, line 4), not the words of the organization.

Questions for Asian Community Development Corp

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · from the funders’ 2025 returns

Dated by each funder’s own filing year, which may not match this organization’s fiscal year.

The Blackbaud Giving Fund$21K

Salem Five Charitable Foundation INC$860

Total grants received, 2019–2025from 43 funders$4.4M

See all 43 funders, 2019–2025 →

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$4.8M

Ln 12

Fees for servicesLn 2g$2.7M

Gifts and grantsLn 1h$1.6M

Other incomeLn 4–11$290K

Money outPt IX

$3.7M

Ln 25

Programscol B$2.7M

Managementcol C$758K

Fundraisingcol D$231K

Owns and owesPt X

$24.7M

net assets · Ln 32

Cash and savingsLn 1–2$3.1M

Total assetsLn 16$43.6M

LiabilitiesLn 26$18.9M

PeoplePt VI, VII

16

listed · VII A

PaidVII A1

Voting boardVI 1a14

IndependentVI 1b14

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.6M

Government grantsLn 1e$851K

Fees for servicesLn 2g$2.7M

Investment incomeLn 3$218K

Other incomeLn 4–11$290K

Gains on assetsLn 7$79K

Total revenueLn 12$4.8M

Assets in detailPt X, end of year

CashLn 1$479K

SavingsLn 2$2.6M

Cash and savings togetherLn 1–2$3.1M

Accounts receivableLn 4$394K

Notes and loans receivableLn 7$13.4M

Prepaid expenses and deferred chargesLn 9$36K

Land, buildings, equipmentLn 10c$14.8M

InvestmentsLn 11–13$3.9M

Intangible assetsLn 14$510K

Other assetsLn 15$7.5M

Total assetsLn 16$43.6M

LiabilitiesLn 26$18.9M

Net assetsLn 32$24.7M

OperationsPt I, VI

EmployeesI 510

VolunteersI 6100

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$3.1M	$3.1M
InvestmentsLn 11–13	$3.6M	$3.9M
Land, buildings, equipmentLn 10c	$13.0M	$14.8M
Total assetsLn 16	$37.7M	$43.6M
LiabilitiesLn 26	$13.6M	$18.9M
Net assetsLn 32	$24.1M	$24.7M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of officers and key staff (Part IX, line 5)Ln 5	$176K	$174K	$2K
Other salaries and wagesLn 7	$897K	$577K	$153K	$167K
Pension plan contributionsLn 8	$18K	$11K	$4K	$2K
Other employee benefitsLn 9	$116K	$59K	$37K	$20K
Payroll taxesLn 10	$79K	$53K	$13K	$13K
Management feesLn 11a	$48K	$48K
Legal feesLn 11b	$9K	$9K
Accounting feesLn 11c	$170K	$4K	$167K
Investment management feesLn 11f	$155K		$155K
Other fees for servicesLn 11g	$89K	$46K	$43K
Office expensesLn 13	$85K	$37K	$33K	$14K
Information technologyLn 14	$18K	$12K	$3K	$3K
OccupancyLn 16	$651K	$639K	$10K	$2K
TravelLn 17	$10K	$8K	$946	$711
Conferences, conventions and meetingsLn 19	$12K	$7K	$3K	$2K
Depreciation, depletion and amortizationLn 22	$271K	$263K	$4K	$4K
InsuranceLn 23	$11K	$8K	$3K
Other expenses (24a–d)Ln 24	$908K	$783K	$122K	$2K
All other expensesLn 24e	$12K	$6K	$5K
Total functional expensesLn 25	$3.7M	$2.7M	$758K	$231K

Part VII lists each person's pay for the calendar year, including pay from related organizations and from people who have left; Part IX, line 5 is this organization's own cost for its current officers and key staff over its fiscal year.

The full sourced Quadrant report on Asian Community Development Corp

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One sourced report, every figure cited to its 990 line
Revenue quality
Compliance checks run against 4 federal lists
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Peer measures

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Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest ViewingFiled with the IRS Oct 20, 2025	$4.8M	$3.7M	$1.1M	$24.7M	990 PDF
FY2023Filed with the IRS Nov 15, 2024	$5.1M	$4.0M	$1.1M	$24.1M	990 PDF
FY2022Filed with the IRS Nov 13, 2023	$3.5M	$3.1M	$453K	$22.9M	990 PDF
FY2021Filed with the IRS Nov 15, 2022	$3.9M	$2.3M	$1.6M	$22.7M	990 PDF
FY2020Filed with the IRS Sep 23, 2021	$3.2M	$2.3M	$869K	$21.0M	990 PDF

Schedules filed Part IV

A · Public support D · Assets and endowments I · Grants O · Explanations

See the full FY2024 990

Parts IV and V and the Schedule O notes are not shown yet: we do not hold this return's e-file. The Parts below come from the IRS data we do hold, and the full 990 PDF has every Part.

Part I · Summary $4,785,869 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $2,286,753$1,594,514

I-9 Program service revenuePrior year $2,446,222$2,683,412

I-10 Investment incomePrior year $189,390$296,979

I-11 Other revenuePrior year $146,140$210,964

I-12 Total revenuePrior year $5,068,505$4,785,869

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $1,140,186$1,285,606

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $2,814,565$2,448,217

I-18 Total expensesPrior year $3,954,751$3,733,823

I-19 Revenue less expensesPrior year $1,113,754$1,052,046

Part III · Program service accomplishments 3 programs, $2,744,693 spent

III-4a The Asian community development corporation (ACDC) works in underserved and immigrant Asian American communities in the greater boston region to create and preserve affordable, sustainable, and healthy neighborhoods. We achieve this by building affordable homes and vibrant spaces, empowering families with asset-building tools, and strengthening communities through resident and youth leadership. Asian cdc's website provides a wealth of information and videos about its programs see the 2024 annual report at HTTPS://asiancdc.org/our-work. The building blocks program provides financial empowerment through home buying workshops, financial literacy training, matched savings program, and 1 on 1 housing counseling.$1,316,371

III-4b Youth programs include a high school leadership program, Asian voices of organized youth for community empowerment (a-voyce), training youth in community leadership and organizing in chinatown and the greater boston area. Youth also have opportunities to learn about cultural identity, community development, and undertake placekeeping activities, which include resident-led public art projects and cultural events addressing community power and impacts of gentrification. Asian-American identifying high school youth learn entrepreneurship skills and apply these skills through running their own youth-led business providing walking tours of chinatown and other projects.$736,262

III-4c The housing development program works to create and preserve high quality affordable housing to meet the needs of communities of low-income Asian American populations. Acdc now has 7 properties in its portfolio that includes 344 affordable rentals.$692,060

Part VI · Governance 14 of 14 board members independent, no flags

VI-1a Voting members of the governing body14

VI-1b Independent voting members14

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VII · Officers, directors and key employees 16 people listed, 1 paid by the organization

VII-1a Angie LiouExecutive Director$134,149

VII-1a Daniel ParkDirector$0

VII-1a Danielle KimDirector$0

VII-1a Emily YuVice Chair$0

VII-1a Eugene HoTreasurer$0

VII-1a Geoffrey WhyChair$0

VII-1a Helen HanDirector$0

VII-1a Jarone LeeDirector$0

VII-1a Jeffrey HsiDirector$0

VII-1a Karen SoohooDirector$0

VII-1a Mai DuDirector$0

VII-1a Michael S GrecoDirector$0

VII-1a Nick ChauDirector$0

VII-1a Paul W LeeDirector$0

VII-1a Vincent LauAsst. Clerk$0

VII-1a Yongmei ChenAsst. Treasurer$0

Part VIII · Statement of revenue $4,785,869 across 8 lines filed

Lines not itemized here account for $93,771 of total revenue; see the IRS return.

VIII-1e Government grants$850,657

VIII-1f All other contributions, gifts and grants$743,857

VIII-1h Total contributions, gifts and grants$1,594,514

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,683,412$2,683,412

VIII-3 Investment incomeExcluded from tax $217,572$217,572

VIII-6 Net rental income or lossExcluded from tax $117,193$117,193

VIII-7 Net gain or loss on sales of assetsExcluded from tax $79,407$79,407

VIII-12 Total revenueRelated to mission $2,777,183 · Unrelated business $0 · Excluded from tax $414,172$4,785,869

Part IX · Statement of functional expenses $3,733,823 across 19 lines filed

IX-5 Pay of officers and key staff (Part IX, line 5)Programs $174,443 · Management $1,762Part VII lists each person's pay for the calendar year, including pay from related organizations and from people who have left; Part IX, line 5 is this organization's own cost for its current officers and key staff over its fiscal year.$176,205

IX-7 Other salaries and wagesPrograms $576,513 · Management $153,482 · Fundraising $167,001$896,996

IX-8 Pension plan contributionsPrograms $11,155 · Management $4,455 · Fundraising $2,457$18,067

IX-9 Other employee benefitsPrograms $58,673 · Management $36,567 · Fundraising $20,360$115,600

IX-10 Payroll taxesPrograms $52,906 · Management $13,237 · Fundraising $12,595$78,738

IX-11a Management feesPrograms $47,695$47,695

IX-11b Legal feesPrograms $9,462$9,462

IX-11c Accounting feesPrograms $3,941 · Management $166,553$170,494

IX-11f Investment management feesManagement $154,729$154,729

IX-11g Other fees for servicesPrograms $46,018 · Management $42,879$88,897

IX-13 Office expensesPrograms $37,102 · Management $33,139 · Fundraising $14,339$84,580

IX-14 Information technologyPrograms $11,514 · Management $3,003 · Fundraising $3,052$17,569

IX-16 OccupancyPrograms $638,623 · Management $10,242 · Fundraising $2,201$651,066

IX-17 TravelPrograms $8,353 · Management $946 · Fundraising $711$10,010

IX-19 Conferences, conventions and meetingsPrograms $7,244 · Management $3,294 · Fundraising $1,711$12,249

IX-22 Depreciation, depletion and amortizationPrograms $263,313 · Management $3,901 · Fundraising $3,964$271,178

IX-23 InsurancePrograms $8,076 · Management $2,718$10,794

IX-24 Other expenses (24a–d)Programs $783,219 · Management $122,228 · Fundraising $2,452$907,899

IX-24e All other expensesPrograms $6,443 · Management $5,152$11,595

IX-25 Total functional expensesPrograms $2,744,693 · Management $758,287 · Fundraising $230,843$3,733,823

Part X · Balance sheet $43,595,108 assets, 20 lines filed

X-1 Cash, non-interest-bearingStart of year $1,090,033$478,680

X-2 Savings and temporary cash investmentsStart of year $2,025,384$2,601,495

X-4 Accounts receivableStart of year $238,231$394,347

X-7 Notes and loans receivableStart of year $13,033,811$13,366,638

X-9 Prepaid expenses and deferred chargesStart of year $28,396$35,805

X-10c Land, buildings and equipment, netStart of year $12,987,521$14,822,602

X-11 Publicly traded securitiesStart of year $3,582,908$3,893,359

X-14 Intangible assetsStart of year $569,708$510,404

X-15 Other assetsStart of year $4,128,642$7,491,778

X-16 Total assetsStart of year $37,684,634$43,595,108

X-17 Accounts payable and accrued expensesStart of year $320,377$1,959,839

X-19 Deferred revenueStart of year $3,303$4,115

X-21 Escrow or custodial accountsStart of year $52,335$62,094

X-23 Secured mortgages and notes payableStart of year $12,595,634$16,308,984

X-25 Other liabilitiesStart of year $612,351$554,316

X-26 Total liabilitiesStart of year $13,584,000$18,889,348

X-27 Net assets without donor restrictionsStart of year $23,871,184$24,404,164

X-28 Net assets with donor restrictionsStart of year $229,450$301,596

X-32 Total net assets or fund balancesStart of year $24,100,634$24,705,760

X-33 Total liabilities and net assetsStart of year $37,684,634$43,595,108

Part XI · Reconciliation of net assets $24,705,760 net assets at year end

XI-1 Total revenue$4,785,869

XI-2 Total expenses$3,733,823

XI-3 Revenue less expenses$1,052,046

XI-4 Net assets at start of year$24,100,634

XI-5 Net unrealized gains (losses) on investments$123,154

XI-8 Prior period adjustments−$570,074

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$24,705,760

Form 990 e-file FY2024 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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Asian Community Development Corp

What it does

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Compensation history total reportable pay by year · 3 named individuals · Part VII

Questions the 990 asks

Updates and questions

Questions for Asian Community Development Corp

Funders

Grants

By the numbers

The full sourced Quadrant report on Asian Community Development Corp

Filing history

Schedules filed Part IV

Featured nonprofit jobs

Give to Asian Community Development Corp