Nonprofit · EIN 41-1911474
ASIAN ECONOMIC DEVELOPMENT ASSOCIATION
Also known as Asian Economic Development Association
Tax-exempt · SAINT PAUL, MN 55103
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,075,432 | $1,228,033 | -$152,601 | $2,297,210 | $200,704 | $2,096,506 |
| December 31, 2023 | 990 | $1,665,059 | $881,250 | $783,809 | $2,451,424 | $147,850 | $2,303,574 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,071,582
- of which government grants
- $459,668
- Program service revenue
- $0
- Investment income
- $5,240
- Net income from fundraising events
- -$17,563
- Net income from sales of inventory
- $2,966
- Other revenue
- -$1,390
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $157,848
- Other salaries and wages
- $245,384
- Salaries, compensation and benefits (total)
- $444,382
- Professional fundraising fees
- $0
- Accounting fees
- $86,572
- Occupancy
- $70,035
- Travel
- $16,697
- Depreciation
- $5,608
- Program services (functional)
- $1,055,026
- Management and general (functional)
- $144,815
- Fundraising (functional)
- $28,192
Balance sheet and other
- Total assets, start of year
- $2,451,424
- Total assets, end of year
- $2,297,210
- Total liabilities, end of year
- $200,704
- Net assets, end of year
- $2,096,506
- Land, buildings and equipment
- $95,218
- Net assets without donor restrictions
- $1,025,673
- Net assets with donor restrictions
- $1,070,833
- Gross receipts
- $1,189,042
- Employees
- 7
- Volunteers
- 15
- Year formed
- 1998
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| VA-MEGN THOJ | EXECUTIVE DIRECTOR Officer | 40 | $124,573 | $33,275 |
| MAY LEE-YANG | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ERICKA TRINH | MEMBER Trustee or director | 1 | $0 | $0 |
| CHRISTOPHER RATSAMY | MEMBER Trustee or director | 1 | $0 | $0 |
| LUKE WANG | MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| VA-MEGN THOJ | EXECUTIVE DIRECTOR Officer | 40 | $124,297 | $24,000 |
| MAY LEE-YANG | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ERICKA TRINH | MEMBER Trustee or director | 1 | $0 | $0 |
| CHRISTOPHER RATSAMY | MEMBER Trustee or director | 1 | $0 | $0 |
| VUE THAO | MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 422 UNIVERSITY AVE W, SAINT PAUL, MN 55103-1962
- In care of
- %
- Mailing address (990-N for 2008)
- 712 University Ave W Ste 105, Saint Paul MN 55104
- Principal officer (990 for 2024)
- VA-MEGN THOJ, 422 UNIVERSITY AVENUE WEST 14, SAINT PAUL, MN 55103
- Principal officer (990-N for 2008)
- Pete Vang, 225 University Ave W Ste 102, Saint Paul MN 55103
- Signed the 990
- VA-MEGN THOJ, EXECUTIVE DIRECTOR
- Phone
- (651) 222-7798
- Website
- www.aeda-mn.org
- Return prepared by
- MAHONEY ULBRICH CHRISTIANSEN & RUSS PA
Mission
TO INCREASE ECONOMIC OPPORTUNITIES FOR ASIAN AMERICANS.
Program accomplishments
- IN 2024, AEDA ACHIEVED SEVERAL MAJOR MILESTONES, SIGNIFICANTLY BOOSTING ITS PROGRAM SERVICES AND COMMUNITY ENGAGEMENT. THE ORGANIZATION SUCCESSFULLY EXPANDED XIA WITH A FULL ARTS SPACE, BUSINESS TRAINING SPACE, A CAF, AND A GALLERY, ENHANCING ITS CULTURAL AND ECONOMIC HUB. AEDA ALSO LAUNCHED THE YOBIZMO (YOUR BUSINESS, YOUR MONEY) ENTREPRENEURSHIP INITIATIVE, SERVING 65 PARTICIPANTS ACROSS TWO COHORTS, PREDOMINANTLY SOUTHEAST ASIAN IMMIGRANT WOMEN, AND REPORTING A 97% SATISFACTION RATE. THE INITIATIVE PROVIDED $120,000 IN GRANTS AND STABILIZATION LOANS TO 24 BUSINESSES AND AWARDED STARTUP/GROWTH TEN GRANTS RANGING FROM $4,000 TO $10,000 VIA A PITCH COMPETITION. ADDITIONALLY, AEDA ASIAN MINNESOTAN WEALTH BUILDING CONFERENCE, ATTRACTING OVER 300 ENTREPRENEURS AND SMALL BUSINESS RESOURCE PROVIDERS. THE COMMUNITY'S FLAGSHIP CULTURAL EVENT, THE LITTLE MEKONG NIGHT MARKET, WAS OFFICIALLY RELAUNCHED FOR THE FIRST TIME SINCE 2019, DRAWING MORE THAN 20,000 ATTENDEES, AND PREPARATORY COMMUNITY ENGAGEMENT FOR THE LITTLE MEKONG COOPERATIVE MARKET REDEVELOPMENT PROJECT BEGAN.Expenses $1,055,026 · revenue $16,173
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-1911474
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1999
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Employment (J22)
- Assets (IRS master file)
- $2,297,210
- Income (IRS master file)
- $1,189,042
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,075,432 | $1,228,033 | $2,297,210 | XML |
| 990 | December 2023 | $1,665,059 | $881,250 | $2,451,424 | XML |
| 990 | December 2022 | $808,780 | $1,056,618 | $1,466,675 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990-N for 2008 Officer: Pete Vang | December 31, 2008 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-1911474).
Questions about ASIAN ECONOMIC DEVELOPMENT ASSOCIATION
- What is the EIN of ASIAN ECONOMIC DEVELOPMENT ASSOCIATION?
- The employer identification number (EIN) of ASIAN ECONOMIC DEVELOPMENT ASSOCIATION is 41-1911474.
- Is ASIAN ECONOMIC DEVELOPMENT ASSOCIATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1999.
- Are donations to ASIAN ECONOMIC DEVELOPMENT ASSOCIATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ASIAN ECONOMIC DEVELOPMENT ASSOCIATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ASIAN ECONOMIC DEVELOPMENT ASSOCIATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ASIAN ECONOMIC DEVELOPMENT ASSOCIATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of ASIAN ECONOMIC DEVELOPMENT ASSOCIATION?
- The 990 for the year ended December 31, 2024 names VA-MEGN THOJ.
- Who are the officers and directors of ASIAN ECONOMIC DEVELOPMENT ASSOCIATION?
- The 990 for the year ended December 31, 2024 lists 5 people; 1 received compensation from the organization, the highest $124,573 (VA-MEGN THOJ, EXECUTIVE DIRECTOR).
- How much revenue does ASIAN ECONOMIC DEVELOPMENT ASSOCIATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,075,432, expenses of $1,228,033 and total assets of $2,297,210 at year end.
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