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Asian Economic Development Association

EIN 41-1911474 · Saint Paul, MN

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair67 out of 100GovernanceGood78 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO INCREASE ECONOMIC OPPORTUNITIES FOR ASIAN AMERICANS.

Income
$1.1 million
Spending
$1.2 million
Spent on programs
86%
Reserves
9.1 months of spending
Largest source of income
donations and private grants, 57%
Employees
7
Volunteers
15
Highest pay
$157,848, executive director

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 67 out of 100. Higher than 40% of charities in its peer group (employment, $1m to $10m).

  • Reserves

    28 of 35

    Spendable reserves would cover 9.1 months of spending.

  • Debt

    20 of 20

    It owes 9% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 14% of income.

  • Income trend

    0 of 15

    Income fell 35% on the year before.

  • Spending floor

    15 of 15

    86% of spending went to programs and raising each dollar of donations cost 3 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 78 out of 100. Higher than 28% of charities in its peer group (employment, $1m to $10m).

  • Independent board

    18 of 25

    4 of 4 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    0 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $1.1 million spent. 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.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since July 1999.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.