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Asia Foundation

EIN 94-1191246 · San Francisco, CA

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

LegitimacyPassesRegistration and standingFinancial healthWeak39 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THE ASIA FOUNDATION (TAF) IS AN INTERNATIONAL NONPROFIT ORGANIZATION WORKING TO SOLVE THE TOUGHEST SOCIAL AND ECONOMIC CHALLENGES IN ASIA AND THE PACIFIC. (CONTINUED ON SCHEDULE O)

Income
$91.5 million
Spending
$96.7 million
Spent on programs
84%
Reserves
2.6 months of spending
Largest source of income
government grants, 87%
Employees
140
Volunteers
28
Highest pay
$561,611, ceo and president

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 39 out of 100. Higher than 7% of charities in its peer group (international, $10m to $100m).

  • Reserves

    10 of 35

    Spendable reserves would cover 2.6 months of spending.

  • Debt

    5 of 20

    It owes 63% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 6% of income.

  • Income trend

    5 of 15

    Income fell 21% on the year before.

  • Spending floor

    15 of 15

    84% of spending went to programs and raising each dollar of donations cost 1 cents.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 35% of charities in its peer group (international, $10m to $100m).

  • Independent board

    25 of 25

    28 of 29 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

    15 of 15

    Its accounts were audited 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 September 30, 2025, 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 (4)
  1. $48.8 million spent. GOVERNANCE: TAF FOSTERS RESPONSIVE, EFFECTIVE, AND ACCOUNTABLE INSTITUTIONS AND DECISION-MAKING PROCESSES THAT PROMOTE THE ECONOMIC GROWTH AND LONG-TERM SUSTAINABILITY OF THE ASIA PACIFIC REGION. CONDUCTED IN PARTNERSHIP WITH GOVERNMENT AGENCIES AND OFFICIALS, CIVIL SOCIETY ORGANIZATIONS, AND OTHER ACTORS, TAF'S PROGRAMS FACILITATE: MORE EFFICIENT AND EFFECTIVE GOVERNANCE SYSTEMS, STRUCTURES, AND SERVICES; PRODUCTIVE PUBLIC-PRIVATE PARTNERSHIPS; GREATER TRANSPARENCY AND CITIZEN VOICE IN PUBLIC DECISION MAKING; FAIRER, MORE JUST, AND MORE ACCESSIBLE LEGAL SYSTEMS, SERVICES, AND DISPUTE RESOLUTION; AND MORE EFFECTIVE STRATEGIES, APPROACHES, AND MECHANISMS TO RESOLVE CONFLICT AND PROMOTE PEACE.
  2. $24.0 million spent. ECONOMIC GROWTH: TAF SUPPORTS LOCAL, NATIONAL, AND REGIONAL-LEVEL EFFORTS TO FOSTER ECONOMIC GROWTH AND OPPORTUNITY IN ASIA AND THE PACIFIC. TAF'S PROGRAMS: SUPPORT DIGITAL LITERACY SKILLS DEVELOPMENT, STEM EDUCATION, AND OTHER WORKFORCE DEVELOPMENT INITIATIVES; FACILITATE THE APPLICATION OF DIGITAL TECHNOLOGY IN FINANCIAL SYSTEMS, TRADE, AND SMALL BUSINESS MANAGEMENT; STRENGTHEN THE ROLE AND INFLUENCE OF BUSINESS MEMBERSHIP ASSOCIATIONS; HELP SECURE THE POLICY MEASURES AND ACTIONS NEEDED FOR ECONOMIC GROWTH AND INNOVATION AND CONDUCIVE BUSINESS ENVIRONMENTS; AND STRENGTHEN PLATFORMS FOR REGIONAL ECONOMIC COOPERATION.
  3. $8.4 million spent. WOMEN'S EMPOWERMENT: TAF EXPANDS WOMEN'S ECONOMIC OPPORTUNITIES, INCREASES WOMEN'S RIGHTS AND SECURITY, AND ADVANCES WOMEN'S POLITICAL PARTICIPATION, TRANSFORMING THE LIVES OF TENS OF THOUSANDS OF WOMEN AND GIRLS ACROSS ASIA AND THE PACIFIC. TAF PROGRAMS: PROVIDE EDUCATION, TRAINING, AND SCHOLARSHIPS TO INCREASE WOMEN'S ENTREPRENEURSHIP AND ECONOMIC OPPORTUNITIES; STRENGTHEN LAWS AND LEGAL SYSTEMS TO PROMOTE WOMEN'S RIGHTS AND SECURITY BY REDUCING TRAFFICKING AND VIOLENCE AGAINST WOMEN AND GIRLS; AND ADVANCE WOMEN'S PARTICIPATION AND LEADERSHIP IN PUBLIC AFFAIRS, LAW AND POLICY MAKING, AND THE BUSINESS SECTOR.
  4. $420,514 spent. THE ASIA FOUNDATION IDENTIFIES AND SUPPORTS THE PROFESSIONAL DEVELOPMENT OF THE NEXT GENERATION OF ASIAN AND PACIFIC LEADERS THROUGH SCHOLARSHIPS AND FELLOWSHIPS; PROMOTES A CULTURE OF READING AND LEARNING THROUGH THE "LET'S READ" DIGITAL LIBRARY OF LOCAL LANGUAGE CHILDREN'S LITERATURE; FACILITATES INCREASED CROSS-SECTORAL COOPERATION IN NATURAL RESOURCE MANAGEMENT, DISASTER RISK REDUCTION, ENVIRONMENTAL CONFLICT MITIGATION, AND GREATER PUBLIC AND PRIVATE INVESTMENT IN SUSTAINABLE INFRASTRUCTURE; AND PROMOTES INCREASED MULTI-COUNTRY COOPERATION ON CRITICAL REGIONAL AND INTERNATIONAL CHALLENGES, INCLUDING AID EFFECTIVENESS, TRADE AND INVESTMENT, SECURITY, AND FOREIGN POLICY.

Source: Form 990 for the year ending September 30, 2025, 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 November 6, 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 September 2025.

    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 March 1952.

    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 November 4, 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.