apiasf 2009 annual report

8/9/2019 APIASF 2009 Annual Report

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2009 ANNUAL REPORT


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APIASF has awarded

more than 2.4 million

to 1,075 deservingstudents since 2005.

More than 80 percent o the 20082009

APIASF Scholars were the frst in their amil

to attend college.

More than 60 percent o the 2009

2010 APIASF Scholars live at or below

the povert line.

The 20092010 APIASF

scholarship class will be

attending more than 130

colleges and universities

around the countr.

The Gates Millennium Scholars

Program has unded more than

13,000 Scholars since 1999.

35 percent

o Gates

Millennium

Scholarstransitioned

into

graduate

school.

Since the 2000 academic ear

the Gates Millennium Scholars

Program has awarded more

than $500,000,000


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2009ANNUAL REPORTLetter rom the Chair. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Letter rom the Executive Director . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Mission Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

Vision Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Histor o APIASF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

Present Da Success . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Future Vision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Scholar Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

APIASF Board o Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

APIASF Advisor Council . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

APIASF General Counsel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

APIASF Sta . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

Our Generous Supporters. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

2009 Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18


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2

Asian&

PacifcIslanderAmericanScholarsip

Fund

Dear Friends,

Taloa lava /

Greetings!It has been m

honor to serve

this important

organization and

to experience

frst-hand the di-

erence we are

making in the lives o Asian and Pacifc

Islander American (APIA) students.

When APIASF was ormed in 2003, there

was not a national organization dedicated

to securing college scholarships or APIA

students. Through the leadership o the

communit and generosit o corporate

supporters, APIASF was ormed.

We have come a long way since we

awarded our frst scholarships. To date, APIASF

has awarded more than $2.4 million to 1,075

students around the country, the U.S. Territoriesand Freely Associated States. We are proud to

be the largest scholarship organization serving

the entire APIA community.

We are honored to recognize those individu-

als, communit groups, corporations and oun-

dations who paved the wa or this organiza-

tion and who have helped us keep the dream

o higher education alive or deserving Asian

and Pacifc Islander American students.

Faaaloalo tele / Sincerel,

Jacinta Titialii Abbott, Esq.

Chair, APIASF Board o Directors

Letter rom the Chair


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3

Letter rom the

Executive Director

3

Dear Friends,

I am pleased to

present to ou

the frst annual

report rom the

Asian & Pacifc

Islander Ameri-

can Scholarship

Fund (APIASF).

This report represents man important mile-

stones, rom the frst scholarships awarded

to the graduation o our frst class o schol-

arship recipients.

Since our ounding in 2003, APIASF has worked

to provide Asian and Pacifc Islander Ameri-

cans students with access to higher edu-

cation. In 2009, we celebrated the college

graduation o our frst class o scholarship re-

cipients. We are proud to have succeeded in

our mission o helping students achieve their

dream o attaining a college degree.

We also have reached a critical point in

our organization where we are expanding

our services beond scholarships to address

the academic and proessional needs o

our students. It is our goal to help students

become successul long-term and we are

proud to provide important services like

leadership development, networking and

academic support to Scholars.

During the summer o 2009, APIASF complet-

ed a new strategic plan that outlines a new

direction or our organization. Through our

contact with students, we know that these

das it takes more than a scholarship to

obtain long-term success. That is wh we are

expanding our organization to provide the

resources that will help our Scholars become

uture leaders and have the tools the need

to contribute to a stronger workorce.

Sincerel,

Neil Horikoshi

APIASF President & Executive Director


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Asian&PacifcIslanderAmerican

ScholarsipFund

Mission StatementOur mission is to make a dier-

ence in the lives o Asian and

Pacifc Islander American (APIA)

students b providing them with

resources that increase their ac-cess to higher education which

serves as the oundation or their

uture success and contributions

to a stronger America.

APIASF carries out its mission b:

Providingscholarshipsto

APIA students;

Forgingpartnershipsamong

corporations, oundations,

communit organizations and

individuals to provide adequate

fnancial and other resources to

carr out our mission;

Providingguidance,mentorship

and programs to acilitate

students academic success,

leadership development and

proessional growth;

Establishingstrategicalliances

within APIA and educational

communities; and

Buildingaclearinghouseof

higher education research on

APIA high school and college

students and continuing to

increase awareness o APIA

education issues and challenges.

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VisionStatement

Our vision is to see that all Asianand Pacifc Islander Americanshave access to higher education

and resources that cultivatetheir academic, personal andproessional success regardlesso their ethnicit, national originor fnancial means.


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Asian&


Fund

Histor o APIASFDespite scholarship organizations or A-

rican Americans and Latinos existing or

more than 60 and 30 ears respectivel, it

wasnt until the inception o the Asian &

Pacifc Islander American Scholarship Fund(APIASF) that there was a comparable

organization to help Asian and Pacifc

Islander American students achieve their

dream o higher education.

In 1999, with a billion dollar grant rom

the Bill and Melinda Gates Foundation,

UNCFthe United Negro College Fund

sought partner organizations or its new

Gates Millennium Scholars Program. Atthe time, there was not an organization

like APIASF to partner with in the Asian

and Pacifc Islander American communit.

This realization coupled with the clear

need or increased access to higher

education in the APIA communit helped

spur communit members to take action.

In 2003, communit members joined with

government leaders and representatives

rom leading corporations to create an

organization that would provide scholarship

support to APIA students. Man o thesegroups became the ounding members o

the organization.

In 2004, APIASF also launched a 12-cit tour to

announce the new organization and share

the impact the organization would have on

increasing the number o Asian and Pacifc

Islander American students with access to

higher education. Corporate and communit

supporters, students and educators gatheredto show support or APIASF and help raise

mone or the new organization.

To ensure the sustainabilit o the newl

ormed organization, the ounding mem-

bers set a $3 million undraising goal. The

Asian McDonalds Operators Association

For a number o years I was asked: I Asian and Pacifc Island

Americans care so much about education, why isnt there a n

tional organization that is devoted eclusively to college scho

arships? At the same time, there were many corporate leade

who believed that APIAs were over-represented in post-secon

ary institutions. It wasnt until community leaders indicated tha

there was a need or a national organization, did the planning

process or APIASF begin. Corporate and community-based

organizations came together in Caliornia more than fve yea

ago and said, its time.

Bill Imada, APIASF Advisor Council Member


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(AMOA) made a contribution o $1 million

to ensure that APIASF would be able to

continue providing a critical link to higher

education or hundreds o Asian and

Pacifc Islander American students. The Bill

and Melinda Gates Foundation has also

provided ongoing support or capacit

building and operations. In 2005, throughthe support and generosit o corporate

supporters, APIASF was able to award its

frst scholarships.

In 2006, the management o the Gates

Millennium Scholars Program / Asian and

Pacifc Islander Americans (GMS/APIA) was

ofciall transerred rom the Organization

o Chinese Americans (OCA) to APIASF,

and in 2007 APIASF moved into its currentlocation on 1900 L Street in Washington, D.C.

APIASF FOUNDINGMEMBERS

Asian McDonalds Operators Association

(AMOA)

Asian Pacifc American Institute or

Congressional Studies (APAICS)

AT&T, Inc.

Hilton Worldwide

IW Group, Inc.

Macs

McDonalds Corporation

Organization o Chinese Americans (OCA)

Southeast Asia Resource Action Center

(SEARAC)

The Coca-Cola Compan

Wells Fargo

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Asian&


Fund

Present Da SuccessSince its inception, the APIASF scholarship

program has awarded more than $2.4 mil-

lion to 1,075 deserving students and has

served Scholars rom all 50 states, the Com-

monwealth o the Northern Mariana Islands,Guam, the Federated States o Micronesia

and American Samoa.

The 20092010 APIASF scholarship class

includes students rom 41 states, the Com-

monwealth o the Northern Mariana Islands,

Guam, the Federated States o Micronesia

and American Samoa. The Scholars repre-

sent man o the diverse groups within the

APIA communit including: Cambodian,Chamorro, Chinese, Filipino, Native Hawai-

ian, Hmong, Indian, Japanese, Korean, Lao-

tian, Micronesian, Samoan, and Vietnamese.

More than 50 percent o recipients are the

frst in their amil to attend college.

As the APIA communit continues to be

one o the astest-growing segments o the

U.S. population, APIASF is working on new

and exciting was to ensure APIA students

are read to ace the challenges o to-

das workorce.

LEADERSHIP DEVELOPMENT

According to a report produced b the

Asian American and Pacifc Islander Work

Group to the Equal Emploment Oppor-

tunit Commission, there is a distinct gap

in the number o APIA emploees and the

number o APIAs emploed at the Senior

Executive Service level among govern-

ment agencies. The lack o APIAs at thehighest level o leadership is a trend that is

echoed in the corporate world as well as

in higher education.

Studies also show that APIA students ma

be overlooked in leadership development

activities on campus and ma not readil

relate to or embrace the label o leader

Asian&


Fund


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relative to their peers. As researchers and

academics work to identi all o the con-

tributing actors, it is clear that there is a

need or leadership development oppor-

tunities or students to help them achieve

success ater college.

APIASF is partnering with organizations like

Leadership Education or Asian Pacifcs, Inc.

(LEAP) to develop programming that will

help students cultivate the skills needed to

become leaders on-campus and eventu-

all on the job. LEAP has more than 25-ears

experience in creating innovative and

culturall-based leadership development

that equips individuals with the necessar

skills to lead, understand and address the

issues and concerns o the APIA population.

ACADEMIC SUPPORT

Transitioning rom high school to college can

be a challenge or an student. To make this

transition easier, APIASF is working to help

students become academicall successul

on-campus through new online resourcesand programs.

In 2008, APIASF launched its frst student

newsletter to provide advice and guid-

ance or new Scholars. The newsletter

identifes resources on campus like the

academic support center and encour-

ages students to ask questions and seek

assistance rom acult and advisors. In

addition to the newsletter, APIASF providesacademic advising opportunities and

online workshops to assist Scholars in de-

veloping skills and competencies that are

important to academic success.

SCHOLAR ENGAGEMENT

Whether it is attending a Congressional

reception or a career development work-

shop, APIASF provides Scholars with oppor-

tunities to enhance their knowledge and

build proessional ties to corporate and

communit members.

Since its inception, APIASF has hosted a

series o communit events in cities around

the countr to bring together Scholars,

Board and Advisor Council members,

communit leaders and corporate support-

ers. The receptions provide the opportunit

or Scholars to practice networking skills and

create valuable connections as the pre-

pare to enter the workorce.

APIASF maintains close contact with Schol-

ars through our eNewsletters and Face-

book groups. Internship announcements,

proessional development opportunities

and scholarship deadlines are routinel

sent to students through our social net-

working groups.

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Asian&


Fund

Future VisionIn the summer o 2009, APIASF completed a

new strategic plan through a generous git

rom the Bill and Melinda Gates Foundation.

The new strategic plan sets the course or

the organization over the next ew ears and

will direct man o the new eorts APIASF will

embark upon to address needs within the

APIA communit and higher education.

RESEARCH

One o the largest challenges acing Asian

and Pacifc Islander American students

across the board is the lack o disaggregat-

ed data when looking at the APIA popula-

tion as a whole without disaggregating the

data, it is eas to believe that APIAs excel

academicall and are fnanciall suc-

cessul. However, upon closer inspection it

becomes clear that while man are doing

well, others are being let behind.

We know that higher education is ke to

improving the lives o students and their

amilies, and contributes to the overall

economic success o our countr. To help

address the lack o data about the Asian

and Pacifc Islander Americans in educa-

tion, frst-generation and low-income APIAs,

APIASF plans to engage leaders in aca-

demia to pioneer research and better un-

derstand the barriers acing APIA students.

COMMUNITy LEADERSHIP

As the largest non-proft organization in thenation providing scholarships to Asian and

Pacifc Islander Americans with fnancial

need, it is important or APIASF to become

a leader in the communit on issues o

education and to voice the needs o our

students. In order to provide the resources

Scholars need to become successul

citizens, APIASF must become an active

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participant in the conversations that will

shape their educational opportunities.

APIASF is committed to working with com-

munit groups, corporations, oundationsand government agencies to create better

opportunities or Asian and Pacifc Islander

American students that will help them con-

tribute to a stronger American workorce.

As we move orward, we are ocused on

strengthening our existing relationships and

orging new partnerships that will enhance

our eorts to improve the experience o

APIA students.

In addition to the development o strong

partnerships, APIASF strives to become a

thought-leader moving the conversation

orward about education and the APIA

communit. APIASF will work to bring to-

gether ke leaders in higher education,

the communit, corporations, oundations,

government agencies and students to gen-

erate a dialogue on ke priorit areas andacilitate strategies to create change.

COMMUNITy COLLEGE

To remain competitive in the global market,

it is important or more Americans to pur-

sue higher education. According to a 2008

report b the National Commission on Asian

American and Pacifc Islander American

Research in Education and the College

Board, the number o APIA students attend-

ing public two-ear colleges increased more

than 73 percent between 1990 and 2000,

compared to onl a 42 percent increase in

public our-ear college attendance. The

report also demonstrated that more APIA

students are attending two-ear public col-

leges than an other tpe o institution.

APIASF will conduct research to better

understand the needs o Asian and Pacifc

Islander Americans who are looking to at-

tend public two-ear colleges. APIASF plansto expand our scholarship programs to help

students interested in attending public two-

ear colleges and those students wishing to

transition to our-ear colleges.

INCREASED ACCESS

As the APIA population continues to grow,

there are more students who will need as-

sistance to make their dream o a collegeeducation a realit. To ace this increased

demand, APIASF must identi new was

to expand its scholarship program to help

more students. It will be critical or APIASF

to continue to increase the number o

scholarships awarded and to develop

new was o supporting Scholars through

renewable scholarships and opportunities

or upperclassmen.


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Asian&


Fund

KA ZOUA VANG

APIASF / Farmers Insurance Scholar

Hometown: Minneapolis, MN

School: Universit o Minnesota Twin Cities

Intended Major: Anthropolog

Coming rom a

low-income amil,

I know this scholar-

ship will help reduce

m reliance on

loans and fnancial

obstacles in college.

I will be the frst gen-

eration to attend

college. Now m

parents will reall look up to me becausethe were never given the opportunit to

gain an education. This scholarship will help

me achieve m goals and come back to

help out m parents and m communit.

I will be attending the Universit o Min-

nesota Twin-Cities this all with a major in

Anthropolog. I reall enjo studing his-

tor and cultures that is wh I am plan-

ning to pursue a career in journalism and

cultural studies upon graduation. Thanks

to this scholarship, I am one step closer to

that goal.

B awarding me this scholarship, ou have

lightened m fnancial burden which allows

me to ocus more on the most important as-

pect o school: learning. your generosit has

inspired me to help others and give back

to the communit. I hope one da I will be

able to help students achieve their goals

just as ou have helped me.

ROTHPANHAR ROSS

APIASF / United Health FoundationAsian Health Scholar

Hometown: Stockton, CA

Institution: Universit o Caliornia, Berkele

Major: Optometr

M parents cannot aord m college edu-

cation nor did anone believe that I would

do well in school or go to college. However,

There were 225 Scholars selected during this fscal ear.

Here are three that we would like to highlight.

Scholar Highlights


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through hard work

and dedication Ihave overcome

these barriers.

Man people have

said that I am a

success stor be-

cause I graduated

as the salutatorian

and got into the

number one public universit in Americacoming rom a background like mine. I

am so ver enthused and exited or the

uture ahead o me and this scholarship

has opened a door or m uture. It onl

takes little to make a dierence, and this

scholarship has made a huge dierence

in m lie.

I remember getting the letter saing that I

have won the scholarship, I was speechless.I was speechless because it showed me

that great people support me and believe

in me to achieve higher education.

FRANK C. HERRERA

APIASF / Southern Caliornia Edison Scholar

Hometown: Apple Valle, CA

School: Universit o Caliornia, Los Angeles

Intended Major: Pre-Political Science

This scholarship means a great deal to

me and m amil. The opportunit or a

college education, especiall one at the

Universit o Caliornia, Los Angeles is ver

important to me. This scholarship will make

it easier or me to

attend college inthat it will help me

reduce m reliance

on loans, which is

crucial in our cur-

rent economic

status. As a result, I

will be able to con-

centrate more on

m studies and less on worring about how

I am going to pa or college.

At UCLA, I plan to major in Pre-Political

Science. I chose to major in this because I

am ver interested in politics and I believe

I can trul make a dierence in this world.

Ater graduation, I plan on going on to law

school, and hopeull, starting m own law

frm in the uture. With this, I hope to help m

communit b aiding the less ortunate with

their legal matters.

For college, I am looking orward to meet-

ing new people, and continuing m edu-

cation at an outstanding institution. I am

proud to be a Distinguished Scholar, and

graduate at Apple Valle High School class

o 2009, with honors. I am also ortunate

to have participated in our Mock-Trial

program at Apple Valle High School. I

learned a lot in the feld o law and I know

I am going to use that knowledge in m

near uture. Lastl, I believe I have grown as

a person being President o the Computer

Technolog Club where I learned a lot

about leadership.


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Asian&


Fund

APIASF Board o DirectorsJacinta TitialiiAbbott, Esq.,

Chair

Anne Chow,Senior VicePresident,Premier ClientGroup, AT&TOperations, Inc.

Wai-Ling Eng,McDonaldsLicensee,AsianMcDonaldsOperatorsAssociation(AMOA)

Michael Fung,Senior VicePresident oFinance, CFO,Walmart

Dave Hamilton,Senior VicePresident andChie RestaurantOfcer,McDonalds

Blaine Hirai,CEO/President/Operator,Hirai Farms

Carol Jackson,Vice President o

Eternal Aairs,Macys

Tariq Khan,President,Global DiversityMarketing

Roderick A.McLeod, Esq.,Partner,Jones Day

Rub G. Mo,Interim EecutiveDirector, Asian

Pacifc AmericanInstitute orCongressionalStudies (APAICS)

Orr Rivero,Vice Presidento HumanResources, HiltonWorldwide

Michelle Scales,Director oDiverse GrowthSegments,Wells Fargo

Nita Song,President

and COO,IW Group, Inc.

Doua Thor,EecutiveDirector,Southeast AsiaResource ActionCenter

The HonorableRobertUnderwood,President,University oGuam

Craig A.Williams, VicePresident,U.S.,The McDonaldsDivision, TheCoca-ColaCompany

Doreen WooHo, Presidento CommunityBanking, UnitedCommercialBank

George Wu, Esq.,EecutiveDirector, OCA


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Rohini Anand,Ph.D., Senior

Vice Presidentand Global

Chie DiversityOfcer, Sodexo

Kevin Bradley,Director o

Inclusion andDiversity,

McDonalds

Corporation

Doris Ching,Ed.D.,

Emeritus Vice

President orStudent Aairs,

University oHawaii System

T. Kamuela Chun,

Project Director,Achieving the

Dream, University

o HawaiiCommunity

Colleges

Joseph Dung,Retired Partner,

Deloitte &Touche

Steven Eng,President,

AsianMcDonalds

Operators

Association(AMOA)

J.D. Hokoyama,President& CEO,

LeadershipEducation orAsian Pacifcs,Inc. (LEAP)

Shirley Hune,Ph.D., Proessor,EducationalLeadership &Policy Studies,University oWashington,Seattle

Bill Imada,Chairman

and CEO, IWGroup, Inc.

Marilyn

Johnson,

Vice Presidento Market

Development,IBM

Corporation

Sachi Koto,Sachi Koto

Communications,

Inc.

Kathryn Mlsna,

ManagingCounsel

(Former),McDonalds

Corporation

KiyoshiNakasaka,

President &CEO,

WashingtonCORE

Vijay Sharma,

ChieInormation

Ofcer U.K.and Ireland,

Sodexo

Daniel Teraguchi,

Ed.D., Assistant

Dean or Student

Aairs andDirector o the

Ofce or Student

Diversity, School

o Medicine,

Johns Hopkins

University

Elaine Yee,Retired, AT&T

APIASF Advisor Council

Neil Horikoshi, President andEecutive Director

Elena Anderson, Director oFinance and Operations

Gale Awaa McCallum, Director,Gates Millennium Scholars

Bernadette Balagot,Program Director,APIASF Scholarship Program

Jason Chan, Program Director,Scholar & Alumni Programs

Prema Chaudhari,Assistant Director,Scholar & Alumni Programs

Bich Le, Program Assistant,Gates Millennium Scholars

Gar Le, Assistant Directoro Development

Nikki Modi, Program Coordinatoror Outreach

Donna Pascua, Director, StudentServices, Gates Millennium Scholars

April Rongero,Program Coordinator,Gates Millennium Scholars

Katie Tran-Lam, Director oCommunications & Marketing

Leah Wu, Director o Development

APIASF Sta

APIASF General CounselMart Lorenzo,DLA PiperGeneral Counsel


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Asian&


Fund

CORPORATIONSAND FOUNDATIONS

$100,000 and above

Asian McDonalds Operators

Association (AMOA)**

Coca-Cola Foundation

Farmers Insurance

Bill and Melinda Gates

Foundation*

ING Foundation

Sodexo Foundation*United Health Foundation

USA Funds

Walmart Foundation

Wells Fargo

$25,000 to $99,999

AT&T Foundation*

Darden Restaurants Foundation

FedEx

General Mills Foundation

Hilton Hotels Corp.*

Hirai Farms/Annies Fun*

ING

IW Group, Inc.*

Macs

McDonalds

MetLie Foundation

Southern Caliornia Edison

Target

United States Nav

Diversit DirectorateWalmart Emploees

and Foundation

Gits in honor o Chung Fan Siu

$5,000 to $24,999

Abercrombie & Fitch

Admerasia

Chrsler Foundation

Chrsler Minorit

Dealers Association

Comcast

Deloitte

Disne-ABC Television Group

DLA Piper LLP (US)*

Honda

JPMorgan Chase Emploees

and Foundation

Kelloggs Corporate

Citizenship Fund

McCain Foods

Monster

Nielsen

Ofce o Hawaiian Aairs

Pacifc Gas & Electric

Sara Lee Foundation

Southwest Airlines*

Verizon

Walmart*

Our Generous SupportersAPIASF would like to thank our generousdonors or their continued support and

or helping us keep the dream o higher

education alive or deserving students.

APIASF grateull acknowledges the gener-ous support o corporations, oundations

and individuals. Donors support enables

oung Asian and Pacifc Islander Americans

to pursue their dream o higher education.

We at Walmart believe APIASF represents opportunity. Providin

educational opportunities to talented, young Asian and Pacif

Islander Americans and helping them learn and grow is critic

to developing the net generation o leaders, leaders who wi

play a signifcant role in Americas competitiveness.

Esther Silver-Parker, Senior Vice President o Corporate Aairs, Walma

We at Walmart believe APIASF represents opportunity. Providin

educational opportunities to talented, young Asian and Pacif

Islander Americans and helping them learn and grow is critic

to developing the net generation o leaders, leaders who wi

play a signifcant role in Americas competitiveness.

Esther Silver-Parker, Senior Vice President o Corporate Aairs, Walma


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$1,000 to $4,999

Apartnership*

Argos International, LLC*

Arnold Worldwide

Lagrant Foundation

PhRMA

UTB Enterprises

$250 to $999

Chronicle o Higher Education

Este Lauder

Tronex

Vargas Advanced

Technologies Group, Inc.*

INDIVIDUALS

$1,000 and above

Justin Berman

Warren Chan

Annie Cheung

Anne Chow

J. Cooper Abbott

Wai-Ling Eng

Michael Fung

Dave Hamilton

Blaine Hirai

Neil Horikoshi

Robert E. Hutchinson, Jr.

Carol Jackson

Bill Imada

Tariq Khan

Sachi Koto*

Roderick A. McLeod, Esq.

Kathleen MurphOrr Rivero

Michelle Scales

John F. Shumacher

Nita Song

Jacinta Titialii Abbott, Esq.

Doreen Woo Ho

$250 to $999

Michael Anderer

Karen Beardslee

Rick Brockhaud

Shaquat Chaudhar

Luc Chan

Bo Chen

Doris Ching, Ed.D.

Carl Dalstrom

Joseph Dung

Steven Eng

Jimm L. Ferguson

Denise Feser

Kath Ford

Javier Goizueta

Shirle Hune. Ph.D.

Kim Lagrant Hunter

Don Liu

Michael James

Bett JangJim Johannesen

Glenn K. Kikuchi

Robert Leopoldino

Lu Lu

Ebrahim Maghsad

Mina Takaanagi Martinez

Kathrn Mlsna

Rub G. Mo

Vija Sharma

Kevin Shiu

Doua Thor

The Honorable

Robert Underwood

Judeen Wrinn

George Wu, Esq.

Leah B. Wu

* Includes in-kind contributiono goods or services

Includes matching gits oremploee donations

** Git made in Fy 0708 tocomplete the $1 millioncontribution.

Nearly hal o the U.S. population 18 and under is ethnically d

verse so i Wells Fargo is going to attract the best and brighte

to be its uture leaders, we need to help these young people

reach their academic goals. Our support o the APIASF has a

lowed Wells Fargo to help deserving Asian and Pacifc Islande

American students realize their aspirations and it has given us

a chance to meet some amazing young people.

Michelle Scales, Director, Diverse Segments, Wells Fargo


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Fund

Statement o AccountsFor the 12 months ending June 30, 2009

SUPPoRt & RevenUe

Grants and contributions . . . . . . . . . . . . . . .$15,881,341

Special event revenue . . . . . . . . . . . . . . . . . . . . 441,967

Less: Cost o direct benefts . . . . . . . . . . . . . . . (123,314)

Net revenue rom special event . . . . . . . . . . . . 318,653

Donated goods and services revenue . . . . . . 241,228

Investment income . . . . . . . . . . . . . . . . . . . . . . . . 23,099

Other revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,930

n sss rls frm rsricis: (10,754,794)

Satisaction o program requirements . . . . . 10,754,794

TOTAL SUPPORT & REVENUE . . . . . . . . . . . . . .16,475,251

eXPenSeS and LoSSeS

Total Program Services . . . . . . . . . . . . . . . . . .10,561,624

Management and general . . . . . . . . . . . . . . . . 745,843

Fund-raising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 367,656

Total Supporting Expenses . . . . . . . . . . . . . . . .1,113,499

TOTAL ExPENSES AND LOSSES . . . . . . . . . . . . .11,675,123

CHanGe In net aSSetS 4,800,128

net aSSetS, beGInnInG oF YeaR 2,711,741

net aSSetS, end oF YeaR $7,511,869

Financial PositionAs o June 30, 2009

aSSetS

CURRENT ASSETS

Cash and cash equivalents . . . . . . . . . . . . . .$6,767,409

Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 898,451

Pledges receivable . . . . . . . . . . . . . . . . . . . . . . . 449,549

Total Current Assets . . . . . . . . . . . . . . . . . . . . . . 8,115,409

PROPERTy AND EQUIPMENT

Furniture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35,205

Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,667

Website . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,411

Allowance or depreciation . . . . . . . . . . . . . . . . (14,858)

Total Propert and Equipment . . . . . . . . . . . . . . . 60,425

OTHER ASSETS

Deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,717

TOTAL ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . $8,184,551

LIabILItIeS and net aSSetS

CURRENT LIABILITIESAccounts paable . . . . . . . . . . . . . . . . . . . . . . $612,468

Accrued expenses . . . . . . . . . . . . . . . . . . . . . . . . 60,214

Total Current Liabilities . . . . . . . . . . . . . . . . . . . . 672,682

NET ASSETS

Unrestricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,164,685

Temporaril restricted . . . . . . . . . . . . . . . . . . . .5,347,184

Total Net Assets . . . . . . . . . . . . . . . . . . . . . . . . . 7,511,869

TOTAL LIABILITIES AND NET ASSETS . . . . . . . . .$8,184,551

2009 Financial StatementsFinancial Statements rom Jul 1, 2008 June 30, 2009


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West

Mid-West Northeast

South

Pacific Islands

17%

25%

16%

37%

5%

Management Fundraising

Programs and Services

3%6%

91%

20092010 Scholars from FamiliesAt or Below Poverty Line

Above thePoverty Line

38%

At or Below the

Poverty Line

62%

How We Use Our Funds

Scholarships Distributed by Discipline

Engineering

8%

6%

Business

11%Sciences

25%

Health/Human Services

34%

Social Sciences

4%

Undecided

Arts & Humanities

4%

Other

8%

Scholarships Distributedby Geographic Location


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Fund

Since I am the frst woman

in m amil to attend

college, I hope to make

this experience a joous

one that I can tell m amil

about. Im excited about

adventuring o on m own

and though I will miss mamil, I know that the are

proud to see me o. Once

again, thank ou or the

chance ou have given me

to live out m dream.

Jerr Wang20092010 APIASF / USA

Funds Scholar


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Fund

1900 L Street NW, Suite 210, Washington, DC 20036

(202) 986-6892 (877) 808-7032 toll ree (202) 530-0643 ax

www.apias.org

The printing or this piece

was made possible b:

apiasf 2009 annual report

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