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Asian Community Development Corp

 38 Oak Street
 Boston, MA 02111
[P] (617) 482-2380 x 201
[F] (617) 482-3056
www.asiancdc.org
info@asiancdc.org
Angie Liou
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INCORPORATED: 1987
 Printable Profile (Summary / Full)
EIN 04-2988263

LAST UPDATED: 12/02/2016
Organization DBA --
Former Names --
Organization received a competitive grant from the Boston Foundation in the past five years No

Summary

Mission StatementMORE »

The Asian Community Development Corporation, a community-based organization, is committed to high standards of performance and integrity in serving the Asian American community of Greater Boston, with an emphasis on preserving and revitalizing Boston's Chinatown. The Corporation develops physical community assets, including affordable housing for rental and ownership; promotes economic development; fosters leadership development; builds capacity within the community and advocates on behalf of the community.

Mission Statement

The Asian Community Development Corporation, a community-based organization, is committed to high standards of performance and integrity in serving the Asian American community of Greater Boston, with an emphasis on preserving and revitalizing Boston's Chinatown. The Corporation develops physical community assets, including affordable housing for rental and ownership; promotes economic development; fosters leadership development; builds capacity within the community and advocates on behalf of the community.

FinancialsMORE »

Fiscal Year Jan 01, 2016 to Dec 31, 2016
Projected Income $1,064,109.00
Projected Expense $856,572.00

ProgramsMORE »

  • Affordable Real Estate Development
  • Asian Voices of Organized Youth for Community Empowerment (A-VOYCE)
  • Civic Engagement and Community Planning
  • Homebuyer Education & Financial Fitness

Revenue vs. Expense ($000s)

Expense Breakdown 2015 (%)

Expense Breakdown 2014 (%)

Expense Breakdown 2013 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

The Asian Community Development Corporation, a community-based organization, is committed to high standards of performance and integrity in serving the Asian American community of Greater Boston, with an emphasis on preserving and revitalizing Boston's Chinatown. The Corporation develops physical community assets, including affordable housing for rental and ownership; promotes economic development; fosters leadership development; builds capacity within the community and advocates on behalf of the community.

Background Statement

ACDC was incorporated in 1987. It was born in response to critical community needs. During the mid 1980’s, when Boston’s Chinatown sorely lacked affordable housing. Asian immigrants and other low income families had extreme difficulty in securing affordable homes. They were forced out of the neighborhood and into the suburbs where even greater cultural and linguistic barriers existed. This isolation limited their access to basic, essential services and job opportunities. Community leaders wanted to remove these injustices and created ACDC.

Impact Statement

During the past 29 years, the organization has distinguished itself by promoting a model of mixed-use, mixed-income real estate with a high percentage of affordable housing and a comprehensive approach to community engagement.  ACDC's developments are home to over 800 adults and children, 5 leading non-profit organizations and 2 local businesses, and preserve the vitality of the surrounding neighborhoods.  ACDC fosters new leadership and empowers low and moderate income residents by providing the tools and resources they need to stabilize their housing, participate in the change and growth of their neighborhoods, and contribute more fully to economic and civic life throughout the region.
 
ACDC’s recent community impacts include:
  • Completing construction of affordable rentals at 66 Hudson at One Greenway and providing homes for 95 families, of which 11% were previously homeless and almost 50% of the households have children under the age of 18. 66 Hudson at One Greenway was named one of Boston’s top seven developments (by number of units) and was the only affordable housing development on the list.
  • Connecting with more than 3,000 registered Asian American voters in Quincy to remind them of their civic duty to vote. Nearly 1 in 4 Quincy residents is of Asian descent, yet Asians are the smallest voter demographic in Quincy.
  • 400 graduates completing our HUD-certified first-time homebuyer course.
  • High school youth raising more than $6,700 in funds to support youth programs by giving guided Chinatown tours to more than 600 visitors.
  • Increasing capacity to offer housing counseling and financial wellness programs in Malden, where 20% of the population is Asian.

Needs Statement

  • Secure funding for expansion of homebuyer education and financial fitness programs and services in Malden and Quincy, where the Asian population in is 20% and 24%, respectively. $75,000
  • Secure funding to implement creative placemaking projects in Chinatown. $50,000
  • Increase funding for civic engagement activities in Quincy and Malden. $10,000
  • Increase funding for youth guide training and professional development for Chinatown walking tour program, See-Town. $20,000
  • Secure funding to renew our next three-year strategic plan. $15,000

CEO Statement

Asian Community Development Corporation (ACDC) formed in 1987 to tackle the lack of affordable housing in Boston’s Chinatown. Over time, we have evolved beyond building brick and mortar to also building strong families and communities. As residents in Greater Boston experience gentrification and displacement, we stand at the forefront of implementing innovative strategies to ensure that working families and immigrants can thrive in our communities.

Over the last 29 years, ACDC has created hundreds of affordable homes, which provide stability, freedom from the uncertainty of eviction, and enable families to pursue education, career and other life goals. We recently completed One Greenway, a 10-year process that reclaimed land Chinatown lost in major highway construction during the 1950s to 60s. These 95 affordable apartments are now home to many families who were previously homeless or facing eviction. As rising rents drive families out of Chinatown, we developed housing in Quincy to meet the demand of a 24% and growing Asian population there (2010 US Census).

ACDC helps low-income families build financial stability and equity. We provide the only Chinese-language first-time homebuyer course in New England, which is sold out every month. Our certified housing and financial counselors assist with budgeting, credit repair, and mortgage approval. While we serve clients at our Chinatown office, we recently expanded to Malden, which has a significant and growing 20% Asian population.

We have led community planning efforts that engage low-income, immigrant residents who are often marginalized in planning and development processes. We lead exercises to empower residents to create a vision for their community. We hold interactive, bilingual workshops to build knowledge of zoning, development and financing, so participants can challenge development proposals that would negatively impact their community. Our Chinatown residents advocate for affordable housing and speak against luxury developments that threaten to displace immigrants.

Part of our community building work focuses on growing Asian American youth leaders, who lead and participate in community planning, organize an annual outdoor film festival and other placemaking activities, and engage in voter education and registration drives.

As Greater Boston experiences rapid economic growth, not all communities benefit equally. ACDC will continue to ensure that Asian immigrant families can remain and thrive in their neighborhoods by providing stable housing and supporting their resilience.


Board Chair Statement

I have served on the Asian Community Development Corporation (ACDC) Board since 1987, when I was part of a group of concerned Chinatown activists that formed ACDC to address the community’s need for affordable housing and to preserve our residential neighborhood. I have served as Board President for the past three years.

My parents emigrated from China in the late 1940s and settled in Chinatown because of the affordable rents and to be near people who shared their culture and spoke their language. Gradually, Chinatown’s community organizations helped them learn English and find work as a waiter in Chinese restaurants and a seamstress in sewing factories, which enabled them to educate their children and move out of Chinatown.

Having benefited from the support services offered by Chinatown agencies, I am deeply committed to preserving and building affordable housing for immigrants and low-income residents and to preserving Chinatown as a residential neighborhood when people can support each other and feel a sense of belonging.

Over the years, it has been personally rewarding to be part of ACDC’s work, which has resulted in several affordable housing projects including two on sites where my family lived when I was young, The Metropolitan on Nassau Street and our most recent project, One Greenway on Hudson Street.

In recent years, there has been extensive encroachment on Chinatown because of its strategic location next to the Financial District and the transportation hub at South Station. This has resulted in overwhelming financial pressure from commercial development and gentrification to provide luxury housing for downtown workers. ACDC is seeking to ensure that a fair share of the development includes affordable housing so that immigrants and low-income residents, as well as middle-income residents, can continue to live in the neighborhood and preserve residential and ethnic character of the neighborhood.

We seek your support, which will enable us to preserve Chinatown and other Asian communities. A major strength of Boston, and indeed any major city, is its ethnic neighborhoods, which bring a vibrant diversity to the city and make it an interesting place to live.

We thank you for your support.


Geographic Area Served

In a specific U.S. city, cities, state(s) and/or region.
City of Boston- Citywide (Indiv. neighborhoods also listed)
GREATER BOSTON REGION, MA
AsianCDC primarily serves Asian Americans in Greater Boston with an emphasis on the cities of Boston, Quincy, and Malden, Massachusetts where there are the largest numbers of Asian residents.

Organization Categories

  1. Community Improvement, Capacity Building - Community & Neighbourhood Development
  2. Housing, Shelter - Housing Development, Construction & Management
  3. Youth Development - Youth Development Programs

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

No

Programs

Affordable Real Estate Development

ACDC develops sustainable mixed-use, mixed-income real-estate development with a high percentage of affordable housing. Over the last three decades, we have constructed the 88-unit Oak Terrace, which is now home to over 300 residents at mixed-income levels; the Metropolitan, a 251-unit mixed-income, mixed-use building with 46% of the residential space being affordable to low and moderate-income families; 6 Fort Street, a 34-unit, 100% affordable development with 1,000 square feet of community space; and the recently completed One Greenway, a 317-unit, mixed-income, mixed-use building with 40% of units affordable to low and moderate-income families.

Budget  $118,594.00
Category  Housing, General/Other Affordable Housing
Population Served Poor,Economically Disadvantaged,Indigent Families Asian, Pacific Islander Heritage
Program Short-Term Success 

Our most recent milestone is completing One Greenway, a mixed-use and mixed-income development that is 40% affordable; three times the average affordable allocation of developments in the Boston area. In 2015, One Greenway was one of Boston’s top 7 developments (by number of units), and was the only affordable development on the list. 

We have started construction on 51 affordable condos that is scheduled for completion in 2017.
Program Long-Term Success 

Long-term success is defined by maintaining a pipeline of affordable development projects and managing current affordable developments. Each of ACDC’s real estate projects address sustainable development, specifically:

  • Public-private partnerships
  • Smart growth and equitable development
  • Good jobs and wages – union workers
  • Transit access
  • Housing
  • Open space
  • Mixed-use (at the Metropolitan and at One Greenway)
Program Success Monitored By 

Our past concentration on large projects meant a long development timeline with an average of 10 years per project. To secure a steadier development pipeline, we incorporated mid-sized projects between larger ones. The rehab of Tremont Village was done between completion of 6 Fort Street and construction of One Greenway. Our pipeline focuses on where there is a significant low-income, Asian immigrant population: Boston, Quincy, Malden and Lynn. A Real Estate Committee of board members and real estate professionals meets monthly to assess the pipeline.

We measure the success of our real estate developments not only by the completion and occupation of buildings, but by how engaged our residents are as well. Our Community Outreach & Resident Engagement Coordinator manages programs and events year-round for our residents, such as senior meetings, resident field trips, socials, meetings with their local delegates, and engaging residents in community organizing.
Examples of Program Success 

Mei* lived on Hudson Street for 7 years in an old and dilapidated apartment while applying for affordable housing. When her landlord made plans for repairs, he did not offer temporary housing or guarantee that she could continue her lease afterwards. Mei came to ACDC for help, where she applied for and was chosen through a lottery for an affordable rental at One Greenway. She is grateful that her family can stay in Chinatown, where she has friends who can help look after her four-year old son when she and her husband work late. Mei and her family now have a safe home, no longer in fear of being forced out or living in unsafe conditions. *Name changed for confidentiality.

We also undertook a rehabilitation project for Tremont Village, which was completed in 2015. The project involved major renovations to address safety and quality-of-life issues, as well as improve the energy efficiency of the property, in order to preserve affordable apartments for 20 low-income families in Chinatown.

Asian Voices of Organized Youth for Community Empowerment (A-VOYCE)

As Chinatown rapidly changes, there is a growing need for culturally sensitive and thoughtful leaders to preserve the opportunities, culture, and services in the neighborhood. A-VOYCE is the only youth program focused on developing Asian American leaders, many from low- and moderate-income families, in the community development field.

In 2015, we transitioned our previously staff-run Chinatown walking tours into a youth entrepreneurship program, “See-Town”, which empowers youth with business skills to manage a financially viable and sustainable business. Youth now manage marketing, tour booking, and finances.

Every year, we also hire youth planning interns who work with our Community Planner to brainstorm and implement planning and place-making initiatives.

We also engage youth in community organizing, mobilizing them to attend community meetings and share their stories and opinions to help advocate for the needs of their families and their overall community.
Budget  $98,320.00
Category  Youth Development, General/Other Youth Leadership
Population Served Adolescents Only (13-19 years) Poor,Economically Disadvantaged,Indigent Immigrant, Newcomers, Refugees
Program Short-Term Success 

In 2016-2017, 20 youth will learn about Chinatown’s history and its current challenges and assets. We will provide them with skills and community-based projects that help them gain marketable skills for academic and professional success.

Three tour managers and at least 10 tour guides will conduct a minimum of 20 tours for approximately 400 community members.

In addition to the place-making activities at the Chinatown Gate by the Rose Kennedy Greenway, our youth interns are currently planning an ambitious place-making ideas-lab to engage peers and the community at large, to combat social issues in Chinatown while reinforcing and reimagining its identity. We will support the interns in implementing the placemaking project by spring of 2017.
Program Long-Term Success  Our long-term goal is to have a consortium of A-VOYCE youth and alums to increase ACDC’s mission-impact by leading placemaking efforts to change underutilized spaces into amazing places that increase the quality of life for residents in our neighborhood. By increasing the frequency of these temporary interventions, the vibrancy of Chinatown can be improved.
Program Success Monitored By 

The program currently tracks the number of students who participate and graduate and is building an alumni group and a youth board. Pre and post program surveys are administered to all youth program participants. There are also periodic focus groups and feedback sessions for each professional development workshop.

We also track income generated from See-Town tours, the number of See-Town tour participants, and attendance at place-making events and the Films at the Gate Festival.

Examples of Program Success 

In 2015, youth managers generated more than $6,700 in income from conducting See-Town Tours. More than 600 community members attended the Films at the Gate event.

 

Patty, a former See-Town tour manager and A-VOYCE leader reflected on her experience in the program, “The program, staff, and my peers have equipped me with the skills and knowledge to become an active leader in my community but also the confidence to be comfortable in my own skin. It's been so amazing to be part of a program that enables youth to learn about issues within our own community and think about innovative ways to try to fix these issues.”


Civic Engagement and Community Planning

There are more than 20 million Asian Americans and Pacific Islanders (AAPI) who call the US home, and AAPI voters are three times more likely than Latinxs to report that language barriers prevented them from voting. AAPI’s had the lowest voter turnout rate in the 2012 presidential election. ACDC joined a collaborative initiative to increase voter registration and voter education in the AAPI community through various events, targeted outreach, and voter registration drives.

We also lead community planning efforts that engage low-income, immigrant residents who are often marginalized in planning and development processes. We hold interactive, bilingual workshops to build knowledge of zoning, development and financing, so that participants are empowered to challenge development proposals that would negatively impact their community. Our Chinatown residents advocate for affordable housing and speak against luxury developments that threaten to displace immigrants.

Budget  $140,869.00
Category  Civil Rights, Social Action & Advocacy, General/Other Ethnic Groups' Rights & Racial Equality
Population Served Immigrant, Newcomers, Refugees Asian, Pacific Islander Heritage Poor,Economically Disadvantaged,Indigent
Program Short-Term Success  More than 300 community members attended bilingual candidates forums that we co-sponsored with other nonprofits, and we have already registered 150 voters leading up to the presidential election. ACDC also co-organized a Get-Out-the-Vote phone banking campaign, personally reaching more than 3,000 registered Asian voters in Quincy.
Program Long-Term Success 

We aim to increase the number of AAPI voters for subsequent elections, which is reported by statistics of voter turnout demographics, specifically at polling locations concentrated in our areas of outreach.

Longterm success for community planning is defined by the number of neighborhood leaders empowered to carry on the work by developing ownership of their community through initiating and leading projects.

Program Success Monitored By 

For our civic engagement projects, our Community Outreach & Resident Enagement Coordinator records how many community members attend the events, how many voter registrations we complete, and how many individuals we reach out to during phone banking campaigns.

Success of our community planning efforts is defined by the number community visioning and planning events implemented as well as the number of community participants at each event. We also see success in our capacity to incorporate community feedback into reports submitted to the City or in proposals for developing on public parcels of land.

Examples of Program Success 

Fanny, one of our Quincy residents, was eligible to vote for years, but did not register and exercise her civic duty to vote until last year, as a result of ACDC’s direct outreach. Her story is documented in a video interview at https://vimeo.com/175179418


Homebuyer Education & Financial Fitness

Our home buying and financial education services in Boston and Malden include financial literacy, home buying and credit counseling. We offer the only HUD-certified home buying courses and 1:1 counseling in English, Mandarin, and Cantonese in New England. We send over 3,000 bilingual newsletters on affordable rental or homeownership listings to our clients annually.

Many constituents have financial situations that preclude them from growing assets. 29% of Asian Americans in Boston live in poverty, and nearly 50% of Asian American renters in Boston struggle to find affordable housing, spending over 30% of their household income on rent.

 

Nearly 50% of our graduates become mortgage-ready by the end of our workshop. About 12% purchase a home within a year of taking HB101. We offer 1:1 counseling to support financial preparedness or to identify affordable housing opportunities. We continue to provide support for clients after their home purchase to ensure sustainability.

Budget  $161,788.00
Category  Housing, General/Other Housing Counseling
Population Served Immigrant, Newcomers, Refugees Poor,Economically Disadvantaged,Indigent Asian, Pacific Islander Heritage
Program Short-Term Success 

Our home buying (HB101) classes average of 25 students in the English-speaking class and 15 in the Chinese-speaking class. The demand for our classes consistently exceeds capacity and we often have a wait list. HB101 is offered 10 times per year, reaching approximately 300 students for English classes and 150 for Chinese per year.

In past years, the graduation rate was less than 75% whereas in 2014 the graduation rate rose significantly to 97% and has stayed at or exceeded that level in 2015 and into 2016. We continue to conduct quarterly and annual reviews and incorporate programmatic changes as needed. We help nearly 50% of our graduates become mortgage-ready by the end of our workshop with about 20% purchasing their first home soon after taking HB101. Overall, about 30% have bought a home with over half of them retaining ACDC’s services for homebuyer preparation counseling.
Program Long-Term Success 

We hope that 30% or more of these graduates will be ready to purchase a home within two years and that they will continue to seek individual counseling with ACDC until they are ready.

Program Success Monitored By 

Our program’s commitment to HUD compliance requires a very high standard of accurate record-keeping and client engagement. Beginning in 2011, all ACDC client cases are recorded in CounselorMax, one of the primary HUD-approved electronic databases. This program is designed to streamline housing counseling and tracks information such as client demographics, household budget and mortgage readiness.

Our pre-assessment determines client readiness, while written post-assessments note the effectiveness of the curriculum. The surveys evaluate client knowledge of homeownership and personal finance information; usefulness of the topic; effectiveness of each presenter; what went well; and what could improve. In 2010, we adapted a financial literacy pre-survey from MoneyWi$e, to help us track if clients improve financial activities after the course. We have found that regular phone check-ins are essential to determining the longitudinal impact of our services. 

Examples of Program Success 

Xiao* is a single parent with very limited English skills and working a low-wage job to save money for her daughter’s future education. Xiao had dreams of having a secure home for her and her daughter, and Xiao's friend referred her to ACDC’s homebuyer course. She never imagined being able to own her own house, but the class helped her understand more about the home buying process.

In Fall 2015, Xiao was eligible to purchase a two-bedroom affordable condo in Brighton. She encountered many difficulties when trying to purchase this condo. The hardest part was applying for the mortgage, as she didn’t know how to respond to the many questions in the documents. ACDC’s housing counselor translated all the documents for her, and communicated with the loan officer, real estate attorney and seller on Xiao's behalf. With ACDC’s help, Xiao's dreams to own a home have come true, and her family is excited to move into the new condo this year. *Client's name has been changed for confidentiality


CEO/Executive Director/Board Comments

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Management


CEO/Executive Director Ms. Angie Liou
CEO Term Start Aug 2016
CEO Email Angie.Liou@asiancdc.org
CEO Experience Angie Liou has 10 years of affordable housing development experience. Previously serving as ACDC's Director of Real Estate, Liou oversaw the asset management of ACDC’s portfolio of 300+ units, and was responsible for developing a pipeline of new projects for ACDC. She has worked as a consultant and project manager in Seattle and Philadelphia assisting nonprofits in providing safe and affordable housing. She has served as the project lead on over $95 million worth of projects. Liou received a Master of City Planning from the University of Pennsylvania with a concentration in Community Development. She received a Bachelor of Arts in Sociology at the University of Pennsylvania.   
Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
Ms. Janelle Chan 2010 Aug 2016
Mr. Jeremy Liu -- 2009

Senior Staff

Name Title Experience/Biography
Hamilton Ho Chief Operating Officer --
Mr. Michael McCaffrey Chief Financial Officer --

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
CDC - State certified Community Development Corporation --
Citizens’ Housing and Planning Association --
Massachusetts Association of Community Development Corporations (MACDC) --
Member of state association of nonprofits? Yes
Name of state association Massachusetts Association of Community Development Corporations

External Assessments and Accreditations

External Assessment or Accreditation Year
Community Housing Development Organization - U.S. Department of Housing and Urban Development 2016
United States Department of Housing and Urban Development (HUD) - Housing Counseling Agency Certification 2016

Collaborations

We have a good working relationship with and a member of our United Way branch, the Mel King Institute, Massachusetts Association of Community Development Corporations, Tufts University, and the Rose Kennedy Greenway. We also regularly collaborate with neighboring Chinatown organizations, Boston Chinatown Neighborhood Center, the Chinese Progressive Association, and Chinatown Main Street to deliver programming and engage Chinatown residents to become leaders in the community. 

ACDC has partnered with the Massachusetts Affordable Housing Alliance to deliver a first-time homebuyer workshop to a group of Cantonese speaking prospective homeowners in the Boston neighborhood of Roxbury. This partnership helped ACDC bring its services to the Chinese community in that neighborhood as well as help our partner address an unmet need in their geographic community.

CEO/Executive Director/Board Comments

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Foundation Comments

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Staff Information

Number of Full Time Staff 9
Number of Part Time Staff 1
Number of Volunteers 10
Number of Contract Staff 2
Staff Retention Rate % 63%

Staff Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 8
Caucasian: 2
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): 0
Gender Female: 10
Male: 2
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Under Development
Organization has Strategic Plan? Under Development
Years Strategic Plan Considers N/A
Management Succession Plan --
Business Continuity of Operations Plan No
Organization Policies And Procedures Yes
Nondiscrimination Policy Yes
Whistle Blower Policy Yes
Document Destruction Policy Yes
Directors and Officers Insurance Policy Yes
State Charitable Solicitations Permit Yes
State Registration Exempt

Risk Management Provisions

--

Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Annually
Senior Management Formal Evaluation and Frequency Yes Annually
Non Management Formal Evaluation and Frequency Yes Annually

Governance


Board Chair Mr. Paul W. Lee
Board Chair Company Affiliation Goodwin, Procter LLP
Board Chair Term Nov 2014 - Nov 2017
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Nick Chau Director --
Steven Chen Rockpoint Group Voting
Yongmei Chen Director --
Amy Cheung Director --
Michael Greco Clerk --
Soni Gupta Director --
Eugene Ho Verrill Dana Voting
Terry Kwan Vice President --
Paul W. Lee President --
Rebecca A. Lee Mintz Levin Voting
Amanda Linehan MAPC Voting
Peter Madsen Director --
Thatsada Sethaphong State Street Global Services Voting
Michael Tow Director --
Geoffrey Why Vice Treasurer --
Jeffrey Wong Treasurer --

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 13
Caucasian: 3
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): --
Gender Female: 7
Male: 9
Not Specified 0

Board Information

Board Term Lengths 3
Board Term Limits 3
Board Meeting Attendance % 72%
Written Board Selection Criteria Yes
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 100%
Percentage of In-Kind Contributions 31%
Constituency Includes Client Representation Yes

Standing Committees

  • Development / Fund Development / Fund Raising / Grant Writing / Major Gifts
  • Executive
  • Finance
  • Nominating
  • Program / Program Planning
  • Real Estate

CEO/Executive Director/Board Comments

As a Community Housing Development Organization (CHDO), certified by the City of Boston, ACDC prioritizes having a representative Board of Directors. Over one-third of our Board members currently represent our service community and/or low-income communities. Over half of our board members are Asian/Asian American with a connection to the immigrant narrative. These representatives live, serve, or work in the community. For illustrative purposes, they include two local small business owners, three who grew up or live in Quincy, and two residents of Chinatown. ACDC has Board Committees (e.g. real estate, fundraising, finance, programs) that include members who are not on ACDC’s general Board of Directors. These committees allow for broader participation and we actively recruit members of the community to serve.

Foundation Comments

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Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2015 (%)

Expense Breakdown 2014 (%)

Expense Breakdown 2013 (%)

Fiscal Year Jan 01, 2016 to Dec 31, 2016
Projected Income $1,064,109.00
Projected Expense $856,572.00
Form 990s

2015 Form 990

2014 Form 990

2013 Form 990

2012 Form 990

Audit Documents

2015 Audited Financials

2014 Audited Financials

2013 Audited Financials

2012 Audited Financials

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2015 2014 2013
Total Revenue $1,562,205 $926,728 $684,420
Total Expenses $1,069,120 $914,205 $892,859

Prior Three Years Revenue Sources

Fiscal Year 2015 2014 2013
Foundation and
Corporation Contributions
$173,390 $137,037 $165,802
Government Contributions $0 $0 $0
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified -- -- --
Individual Contributions $31,641 $17,327 $19,994
Indirect Public Support -- -- --
Earned Revenue $1,016,541 $436,645 $315,268
Investment Income, Net of Losses $11,756 $10,691 $1,978
Membership Dues -- -- --
Special Events $328,763 $324,015 $175,504
Revenue In-Kind -- -- --
Other $114 $1,013 $5,876

Prior Three Years Expense Allocations

Fiscal Year 2015 2014 2013
Program Expense $974,463 $825,075 $825,783
Administration Expense $21,287 $20,418 $22,895
Fundraising Expense $73,370 $68,712 $44,181
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 1.46 1.01 0.77
Program Expense/Total Expenses 91% 90% 92%
Fundraising Expense/Contributed Revenue 14% 14% 12%

Prior Three Years Assets and Liabilities

Fiscal Year 2015 2014 2013
Total Assets $10,418,347 $7,147,174 $2,141,930
Current Assets $2,124,452 $1,597,778 $1,220,824
Long-Term Liabilities $7,366,203 $4,811,159 $1,825,900
Current Liabilities $55,921 $66,220 $110,659
Total Net Assets $2,996,223 $2,269,795 $205,371

Prior Three Years Top Three Funding Sources

Fiscal Year 2015 2014 2013
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value --
Spending Policy --
Percentage(If selected) --
Credit Line Yes
Reserve Fund Yes
How many months does reserve cover? 3.00

Capital Campaign

Are you currently in a Capital Campaign? No
Capital Campaign Purpose --
Campaign Goal --
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? --

Short Term Solvency

Fiscal Year 2015 2014 2013
Current Ratio: Current Assets/Current Liabilities 37.99 24.13 11.03

Long Term Solvency

Fiscal Year 2015 2014 2013
Long-term Liabilities/Total Assets 71% 67% 85%

CEO/Executive Director/Board Comments

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Foundation Comments

Financial summary data in the charts and graphs above are per the organization's consolidated audited financials and reflect Asian Community Development Corp Programs only, per the supplementary pages of the audits.

Documents


Other Documents

ACDC Overview (2015)

Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

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2. What are your strategies for making this happen?

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3. What are your organization’s capabilities for doing this?

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4. How will your organization know if you are making progress?

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5. What have and haven’t you accomplished so far?

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