Asian Pacific Fund
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Strengthens the Bay Area's Asian and Pacific Islander community by mobilizing philanthropy and providing capacity-building grants to local nonprofits serving vulnerable populations. For fiscal year 2024 it reported $3.6M in revenue, $3.4M in expenses, and $25.6M in net assets.Pt I
Summary of the Filing
Where the work happens
General Programs
Apf offers grants and services to nonprofits nationally to support and improve educational outcomes, language access, and increase civic engagement. In 2024, the fund hosted trainings online and in person on the topics of strategic communications, fundraising, executive transitions, and nonprofit finance.
Education
Apf distributes scholarships to high school, undergraduate, and graduate students and offers leadership development programming to increase access to and retention in higher education.
Small Grants Program
Apf distributes grants to nonprofits in the bay area to support capacity building projects that ranged from fundraising to staff wellness initiatives. In 2024, the fund awarded $25,000 each to 22 organizations.
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Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
Carolyn Wang Kong’s $246K as President & Executive Director is at the 89th percentile of top reported officer pay among 1688 $1–10M philanthropy & grantmaking 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
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Carolyn Wang Kong | $246,000 | $271,000 | — | — | — |
| Audrey Yamamoto | — | — | — | $192,500 | $162,827 |
| Gurpreet Tung | $157,154 | $152,224 | $149,554 | — | — |
| Maryann Treble | $129,898 | $73,908 | — | — | — |
| Tavae Samuelu | $128,680 | — | — | — | — |
| Susan May | — | — | $103,209 | — | — |
| Audrey Yamamoto Until 21822 | — | — | $52,034 | — | — |
| Carolyn Kong Started 11122 | — | — | $40,833 | — | — |
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.
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Statement of Revenue
Statement of Functional Expenses
Balance Sheet
Financial Metrics
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
| Metric | This org | Peer median | Percentile |
|---|---|---|---|
| Program ratio | 78% | — | — |
| Overhead ratio | 16% | — | — |
| Fundraising cost ratio | 8% | — | — |
| Revenue growth | -26% | — | — |
| Legal fee ratio | 0% | — | — |
| Accounting fee ratio | 3% | — | — |
Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.
Grants
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Filings & Schedule Manifest
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Sources
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