The Society is an international nonprofit nonpartisan organization, see schedule o.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
Run by 38 volunteers and 228 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $880K a year · 3% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.9M
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $93.2M in investments, Pt X · Ln 11–13
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
66
named funders · $8.5M
Looks good: 66 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$16.1M
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
65
of 67 voting members
Looks good: 65 of 67 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$29.6M
-4% vs prior year
Spent
$32.3M
To programs
74%
Net assets
$107.4M
By yearFY2020–FY2025
Revenue
$29.6M
FY2025▼ -4%
Tap a bar for its year
Revenue by fiscal year
FY2020$31.0M
FY2021$32.3M
FY2022$30.2M
FY2023$30.4M
FY2024$30.9M
FY2025$29.6M
Expenses
$32.3M
FY2025▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$31.6M
FY2021$28.9M
FY2022$30.7M
FY2023$32.1M
FY2024$34.1M
FY2025$32.3M
Net assets
$107.4M
FY2025▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$97.7M
FY2021$123.0M
FY2022$105.7M
FY2023$106.4M
FY2024$110.1M
FY2025$107.4M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1985.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $23.8M Management & general 18% · $5.8M Fundraising 8% · $2.7M

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

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Who runs it and what they're paid

79 people listed on the 990; $2.9M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President & CEO
$511,089Pt VII · Sec A
EVP & Chief Operating Officer
$367,961Pt VII · Sec A
VP, Int'l Sec & Diplomacy - End 6/25
$325,088Pt VII · Sec A
VP & MD, Washington DC Office
$324,862Pt VII · Sec A
VP, Ctr Us-China Rel/Arthur Ross Dir
$310,058Pt VII · Sec A
Chief Digital & Comm. Officer
$278,199Pt VII · Sec A
Chief Financial Officer
$270,762Pt VII · Sec A
Chief Development Officer
$270,075Pt VII · Sec A

Kyung-Wha Kang’s $511K as President & CEO is at the 91st percentile of top reported officer pay among 345 $10–100M international 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 · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Kevin M Rudd - End 032023—$503,422$984,222———
Kevin M Rudd———$756,089$817,257$981,819
Josette M Sheeran———$301,752$663,290$944,178
Kyung-Wha Kang$511,089—————
Debra Eisenman$367,961$495,513$271,187———
Julia Nelson - End 112023—$370,411————
Thomas Nagorski————$276,294$329,786
Daniel Russel$325,088$326,197$325,750$281,663$241,252$281,613

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Asia Society executive salaries →

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Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates the global public about Asia through innovative online programming, digital outreach, and diverse content on current regional topics.

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Provided by the organization

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3 programs · $19.8M · in their own filed words · FY2024
01

Policy and Business Program Division

The asia society policy institute has been ranked in the top 1% of think tanks around the world by the university of pennsylvania's think tanks and civil society's program. With a problem-solving mandate, the asia society policy institute (aspi) tackles major policy challenges now confronting the asia-pacific in security, prosperity…

$12.1Mprogram expense
02

Art and Cultural Programs Division

The society's art and cultural programs division explores the vital expressions of diverse asian cultures through exhibitions, performances, films, lectures, and symposia. For more information, see schedule o.

$5.8Mprogram expense
03

Communications Division

The society pursues its mission to educate the public through innovative online programming activities. The work of the online outreach division includes contributions from headquarters as well as our sixteen other centers and branches around the world.

$1.9Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 66 funders →
Grants paid · 167 grants · $3.1M · 2019–2024
Unitemized GrantFY2024$15,000
Unitemized GrantFY2024$7,000
The Outlaw Ocean LLCFY2023$10,000
The Years Project INCNY · FY2022$90,000
Unitemized GrantFY2021$45,000
Unitemized GrantFY2021$10,500
West Orange Public SchoolsFY2021$10,000
Lake Forest School District 67FY2021$6,772
Lake Forest High School District 115FY2021$6,772
Unitemized GrantFY2021$500
See all 167 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$29.6M
Ln 12
Gifts and grantsLn 1h$18.6M
Investment incomeLn 3$9.1M
Fees for servicesLn 2g$1.0M
Money outPt IX
$32.3M
Ln 25
Programscol B$23.8M
Managementcol C$5.8M
Fundraisingcol D$2.7M
Owns and owesPt X
$107.4M
net assets · Ln 32
Cash and savingsLn 1–2$5.6M
Total assetsLn 16$123.5M
LiabilitiesLn 26$16.1M
PeoplePt VI, VII
79
listed · VII A
PaidVII A9
Voting boardVI 1a67
IndependentVI 1b65
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$18.6M
Government grantsLn 1e$731K
Noncash giftsLn 1g$335K
Fundraising eventsLn 1c$1.9M
Fees for servicesLn 2g$1.0M
Investment incomeLn 3$9.1M
Other incomeLn 4–11$897K
Gains on assetsLn 7$7.5M
Total revenueLn 12$29.6M
Assets in detailPt X, end of year
CashLn 1$1.7M
SavingsLn 2$3.9M
Cash and savings togetherLn 1–2$5.6M
InvestmentsLn 11–13$93.2M
Land, buildings, equipmentLn 10c$14.6M
Other assetsLn 15$1.6M
Total assetsLn 16$123.5M
LiabilitiesLn 26$16.1M
Net assetsLn 32$107.4M
OperationsPt I, VI
EmployeesI 5228
VolunteersI 638
Fiscal year endsHeaderJune
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
LineStart FY25End FY25
Cash and savingsLn 1–2$9.2M$5.6M
InvestmentsLn 11–13$87.6M$93.2M
Land, buildings, equipmentLn 10c$15.7M$14.6M
Total assetsLn 16$126.6M$123.5M
LiabilitiesLn 26$16.5M$16.1M
Net assetsLn 32$110.1M$107.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$262K$262K
Grants to domestic individualsLn 2$22K$22K
Grants and assistance to foreign recipientsLn 3$782K$782K
Pay of current officers, directors and key staffLn 5$1.7M$878K$435K$389K
Pay of disqualified personsLn 6$179K$179K
Other salaries and wagesLn 7$12.7M$9.7M$1.9M$1.2M
Pension plan contributionsLn 8$570K$433K$86K$51K
Other employee benefitsLn 9$1.5M$1.1M$306K$152K
Payroll taxesLn 10$1.1M$923K$26K$135K
Legal feesLn 11b$112K$58K$55K$168
Accounting feesLn 11c$158K$158K
Investment management feesLn 11f$487K$487K
Other fees for servicesLn 11g$3.4M$3.1M$244K$129K
Advertising and promotionLn 12$74K$74K
Office expensesLn 13$1.8M$1.0M$546K$213K
Information technologyLn 14$965K$186K$692K$87K
OccupancyLn 16$1.6M$1.3M$178K$61K
TravelLn 17$1.5M$1.4M$76K$49K
Conferences, conventions and meetingsLn 19$107K$93K$9K$5K
InterestLn 20$505K$412K$66K$28K
Depreciation, depletion and amortizationLn 22$1.5M$1.2M$193K$82K
InsuranceLn 23$355K$76K$279K
Other expenses (24a–d)Ln 24$863K$659K$126K$79K
Total functional expensesLn 25$32.3M$23.8M$5.8M$2.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $29.6M$32.3M−$2.7M$107.4M 990 PDF
FY2024 $30.9M$34.1M−$3.3M$110.1M 990 PDF
FY2023 $30.4M$32.1M−$1.7M$106.4M 990 PDF
FY2022 $30.2M$30.7M−$474K$105.7M 990 PDF
FY2021 $32.3M$28.9M$3.4M$123.0M 990 PDF
FY2020 $31.0M$31.6M−$552K$97.7M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign M · Noncash J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $29,605,387 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $24,846,333$18,590,059
I-9 Program service revenuePrior year $786,740$1,038,686
I-10 Investment incomePrior year $3,629,125$9,079,764
I-11 Other revenuePrior year $1,614,521$896,878
I-12 Total revenuePrior year $30,876,719$29,605,387
I-13 Grants and similar amounts paidPrior year $1,520,242$1,065,897
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $17,778,451$17,796,957
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $14,836,288$13,423,452
I-18 Total expensesPrior year $34,134,981$32,286,306
I-19 Revenue less expensesPrior year −$3,258,262−$2,680,919
Part VI · Governance 65 of 67 board members independent, 1 to look at
VI-1a Voting members of the governing body67
VI-1b Independent voting members65
VI-2 Family or business relationship among officers or directorsYes
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 VIII · Statement of revenue $29,605,387 across 13 lines filed
Lines not itemized here account for $130,239 of total revenue; see the IRS return.
VIII-1b Membership dues$908,583
VIII-1c Fundraising events$1,876,279
VIII-1e Government grants$731,347
VIII-1f All other contributions, gifts and grants$15,073,850
VIII-1g Noncash contributions (included above)$335,184
VIII-1h Total contributions, gifts and grants$18,590,059
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,038,686$1,038,686
VIII-3 Investment incomeExcluded from tax $1,589,223$1,589,223
VIII-5 RoyaltiesExcluded from tax $299,777$299,777
VIII-6 Net rental income or lossExcluded from tax $371,152$371,152
VIII-7 Net gain or loss on sales of assetsExcluded from tax $7,490,541$7,490,541
VIII-8 Net income from fundraising eventsExcluded from tax $95,710$95,710
VIII-12 Total revenueRelated to mission $1,038,686 · Unrelated business $0 · Excluded from tax $9,976,642$29,605,387
Part IX · Statement of functional expenses $32,286,306 across 23 lines filed
IX-1 Grants to domestic organizationsPrograms $261,651$261,651
IX-2 Grants to domestic individualsPrograms $22,000$22,000
IX-3 Grants and assistance to foreign recipientsPrograms $782,246$782,246
IX-5 Pay of current officers, directors and key staffPrograms $877,979 · Management $434,826 · Fundraising $388,560$1,701,365
IX-6 Pay of disqualified personsPrograms $178,576$178,576
IX-7 Other salaries and wagesPrograms $9,661,152 · Management $1,853,916 · Fundraising $1,208,439$12,723,507
IX-8 Pension plan contributionsPrograms $433,297 · Management $85,826 · Fundraising $51,168$570,291
IX-9 Other employee benefitsPrograms $1,079,824 · Management $306,391 · Fundraising $152,366$1,538,581
IX-10 Payroll taxesPrograms $922,841 · Management $26,341 · Fundraising $135,455$1,084,637
IX-11b Legal feesPrograms $57,504 · Management $54,521 · Fundraising $168$112,193
IX-11c Accounting feesManagement $158,182$158,182
IX-11f Investment management feesManagement $487,346$487,346
IX-11g Other fees for servicesPrograms $3,067,565 · Management $244,067 · Fundraising $129,130$3,440,762
IX-12 Advertising and promotionPrograms $74,329$74,329
IX-13 Office expensesPrograms $1,039,679 · Management $545,815 · Fundraising $212,827$1,798,321
IX-14 Information technologyPrograms $185,511 · Management $692,385 · Fundraising $87,427$965,323
IX-16 OccupancyPrograms $1,346,344 · Management $177,980 · Fundraising $61,471$1,585,795
IX-17 TravelPrograms $1,357,421 · Management $76,361 · Fundraising $49,445$1,483,227
IX-19 Conferences, conventions and meetingsPrograms $92,749 · Management $9,274 · Fundraising $5,265$107,288
IX-20 InterestPrograms $411,835 · Management $65,692 · Fundraising $27,793$505,320
IX-22 Depreciation, depletion and amortizationPrograms $1,211,550 · Management $193,353 · Fundraising $81,923$1,486,826
IX-23 InsurancePrograms $75,920 · Management $279,188$355,108
IX-24 Other expenses (24a–d)Programs $659,029 · Management $125,623 · Fundraising $78,780$863,432
IX-25 Total functional expensesPrograms $23,799,002 · Management $5,817,087 · Fundraising $2,670,217$32,286,306
Part X · Balance sheet $123,532,820 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $3,040,434$1,659,429
X-2 Savings and temporary cash investmentsStart of year $6,193,530$3,946,518
X-3 Pledges and grants receivableStart of year $10,681,407$7,064,565
X-4 Accounts receivableStart of year $1,888,823$521,660
X-8 Inventories for sale or useStart of year $68,562$60,108
X-9 Prepaid expenses and deferred chargesStart of year $370,585$889,145
X-10c Land, buildings and equipment, netStart of year $15,748,218$14,585,971
X-11 Publicly traded securitiesStart of year $35,877,935$39,689,554
X-12 Other securitiesStart of year $51,728,247$53,471,617
X-15 Other assetsStart of year $1,042,247$1,644,253
X-16 Total assetsStart of year $126,639,988$123,532,820
X-17 Accounts payable and accrued expensesStart of year $2,941,895$2,458,578
X-20 Tax-exempt bond liabilitiesStart of year $13,419,692$12,982,556
X-25 Other liabilitiesStart of year $169,784$678,244
X-26 Total liabilitiesStart of year $16,531,371$16,119,378
X-27 Net assets without donor restrictionsStart of year $137,123$1,056,978
X-28 Net assets with donor restrictionsStart of year $109,971,494$106,356,464
X-32 Total net assets or fund balancesStart of year $110,108,617$107,413,442
X-33 Total liabilities and net assetsStart of year $126,639,988$123,532,820
Part XI · Reconciliation of net assets $107,413,442 net assets at year end
XI-1 Total revenue$29,605,387
XI-2 Total expenses$32,286,306
XI-3 Revenue less expenses−$2,680,919
XI-4 Net assets at start of year$110,108,617
XI-5 Net unrealized gains (losses) on investments−$12,718
XI-9 Other changes in net assets−$1,538
XI-10 Net assets at end of year$107,413,442

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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