irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $1.99MCOMMUNITY OUTREACH AND EDUCATION: AAFE'S OUTREACH AND EDUCATION PROGRAMS ARE DESIGNED TO EMPOWER COMMUNITY MEMBERS TO BECOME INFORMED AND ENGAGED MEMBERS IN THEIR BUILDINGS, NEIGHBORHOODS AND CIVIC ORGANIZATIONS. EACH YEAR, THOUSANDS OF INDIVIDUALS ATTEND OUR MULTILINGUAL EDUCATIONAL WORKSHOPS AND COMMUNITY EVENTS AND PARTICIPATE IN OUR ADVOCACY CAMPAIGNS. AAFE WORKS TO REGISTER VOTERS, ORGANIZE RENT STABILIZED TENANTS AND ENGAGE IMMIGRANT YOUTH AND LOW-INCOME SENIORS. MORE THAN 100 VOLUNTEERS HELP STAFF OUR FOOD PANTRIES, BACK TO SCHOOL GIVEAWAYS AND MULTICULTURAL HOLIDAY CELEBRATIONS.
- #2 $1.45MHOUSING, IMMIGRATION AND SOCIAL SERVICES: THE FOUNDATION OF AAFE'S COMMUNITY SERVICES IS A STRONG BELIEF THAT EVERYONE SHOULD HAVE EQUITABLE ACCESS TO AFFORDABLE AND SAFE HOUSING, GOVERNMENT SAFETY NET PROGRAMS AND HEALTHCARE AND PATHWAYS TO U.S. CITIZENSHIP FOR THEMSELVES AND THEIR FAMILIES. WHILE MAINTAINING COMMUNITY CENTERS IN MANHATTAN'S CHINATOWN AND THE LOWER EAST SIDE AND FLUSHING AND JACKSON HEIGHTS IN QUEENS, OUR INDIVIDUAL COUNSELING SERVICES ARE AVAILABLE CITYWIDE. AAFE PROVIDES MULTILINGUAL ASSISTANCE IN ENGLISH, CHINESE, SPANISH, AND KOREAN TO HELP PREVENT HOUSING DISPLACEMENT, CONNECT LOW-INCOME COMMUITY MEMBERS WITH ESSENTIAL SOCIAL SERVICES AND IMMIGRATION ASSISTANCE.
named programs · 5 · from sources
What they call their work
Affordable Housing Development
Develops and preserves affordable housing units across NYC using low-income housing tax credits and city programs, including cooperative ownership models.
Community Outreach and Education
Hosts multilingual workshops and events to promote civic engagement, voter registration, tenant organizing, and youth and senior outreach in immigrant communities.
Housing, Immigration and Social Services
Provides multilingual counseling in English, Chinese, Spanish, and Korean to prevent housing displacement, connect low-income individuals with government benefits, and support immigration assistance citywide.
Rebuild Chinatown Initiative
Community-driven planning effort launched after 9/11 to revitalize Chinatown, resulting in approximately $100 million in public and private investment.
Small Business Training and Lending
Offers low-interest loans and business training through Renaissance Economic Development Corporation and AAFE Community Development Fund to support immigrant entrepreneurs.
activities · 6 groups
What they do
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Volunteer Engagement and Capacity Support 1 activity
- Community engagement and educational programmingConducts multilingual educational workshops, voter registration drives, youth engagement programs, food pantries, back-to-school giveaways, and multicultural holiday celebrations, supported by over 100 volunteers annually.
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Housing Policy Advocacy & Tenant Organizing 1 activity
- Community organizing and advocacy for housing justiceSupports tenants in organizing legal actions against landlords, files lawsuits over substandard housing conditions, and leads campaigns to protect rent-stabilized housing. Historical efforts include protests at Confucius Plaza and post-9/11 preservation of 130 rent-stabilized units.
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Affordable Housing Development and Management 1 activity
- Development and management of affordable housingBuilds, preserves, and manages affordable housing units across New York City, with over 1,400 units developed or preserved in immigrant and low-income communities. Projects include co-op conversions, multigenerational developments like One Flushing, and participation in city programs such as the Affordable Neighborhood Cooperative Program.
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First-Time Homebuyer Support Services 1 activity
- Homebuyer education and mortgage financing assistanceOffers financial education, counseling, and access to capital for first-time homebuyers through the AAFE Community Development Fund, facilitating $250 million in sustainable home mortgages for approximately 5,000 individuals.
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Comprehensive Community Service Hubs 1 activity
- Multilingual community services and tenant supportOperates community centers in Manhattan and Queens offering multilingual counseling (in English, Chinese, Spanish, and Korean) to prevent housing displacement and connect low-income residents with social, immigration, and housing services. Hosts workshops on tenant rights, helps file rent reduction applications, and supports formation of tenant associations.
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Small Business and Nonprofit Lending 1 activity
- Small business lending and entrepreneur supportProvides low-interest loans, training, and financial support to immigrant entrepreneurs through Renaissance Economic Development Corporation (a CDFI) and other initiatives, disbursing over $70 million in capital to more than 10,000 small business owners.
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financials · form 990 · fy2024
revenue
Total revenue$15.99M
Contributions & grants$11.14M70%
Program service revenue$3.33M21%
Investment income$44K0%
Other revenue$1.49M
expenses
Total expenses$12.29M
Program expenses71%
Admin / overhead27%
Fundraising2%
Salaries & benefits$5.71M
Grants paid out$1.31M
Largest expense lineCompensation
balance sheet
Total assets$24.21M
Cash$4.37M
Investments$3.90M
Liabilities$12.28M
Net assets$11.93M
Liquid reserves8.1 mo
4 years on record · 2020–2024 · YoY revenue +46.8%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 8
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| THOMAS YU | CHAIRMAN/ED | 23 | $346K |
| HUI-YUAN NELSON CHAN | MANAGING DIR OF COMMUNITY | 23 | $271K |
| MY CHANG | VICE PRESIDENT/CHIEF OF STAFF | 23 | $209K |
| JOY SUZANNE GRANADO | CHIEF ACCOUNTING OFFICER (OUTGOING) | 23 | $197K |
| EMILY RIOS | DIRECTOR OF COMMUNITY SERV | 35 | $181K |
| ETHEL COFFINAS | DIRECTOR OF HUMAN RESOURCES | 35 | $180K |
| EDWARD LITVAK | DIRECTOR OF MARKETING | 35 | $173K |
| ANDREA ALEXOPOULOS | SENIOR PROJECT MANAGER | 35 | $145K |
board members · 17
- CATHERINE KIM — CHAIR
- CONNIE LEE — DIRECTOR
- DONNA CHIU — DIRECTOR
- GRACE ALSTER — DIRECTOR
- HEIDIE JOO BURWELL — SECRETARY
- HENG LY — DIRECTOR
- JENNIFER WU — DIRECTOR
- JIM BURKE — DIRECTOR
- JOHN LEO — DIRECTOR (OUTGOING)
- JUNE JEE — DIRECTOR
- KATHLEEN WEBSTER — DIRECTOR
- KENNETH COHEN — DIRECTOR
- KIMBERLY WILLIAMS — DIRECTOR
- LINA LEE — DIRECTOR
- LISA TALMA — DIRECTOR
- LYDIA TOM — VICE CHAIR
- PEGGY CHAN — TREASURER
relationships · 23
Who they work with
- 34th Avenue Open Streets Coalition Partner — AAFE collaborates with this coalition, which is also represented on AAFE’s board.
- AAFE Community Development Fund Partner — AAFE affiliate CDFI facilitating homeownership loans and financial education.
- Adrienne Adams Government — City Council Speaker who participated in a milestone event for the Flushing Cultural Hub.
- Empire State Development Corp. Government — Provided a $15 million loan fund after 9/11, which Renaissance helped disperse.
- Enterprise Community Partners Network — AAFE is affiliated with Enterprise Community Partners through the AAFE Community Development Fund.
- HANAC Partner — Partner organization collaborating with AAFE on the One Flushing affordable housing development.
- Hester Street Collaborative Partner — Thomas Yu serves on the board of this nonprofit focused on community planning through design and civic engagement.
- Legal Services NYC Partner — Collaborates with AAFE to provide legal and organizational support to tenants at 41-25 Case Street in Elmhurst.
- Low Income Investment Fund Government — AAFE participates in the New Market Tax Credit community advisory board of this organization.
- Monadnock Development Partner — Partner organization collaborating with AAFE on the One Flushing affordable housing development.
- NYC Economic Development Corporation Government — AAFE participates in the New Market Tax Credit community advisory board of this city agency.
- New York City Government — Implements citywide programs and models in partnership with or recognized by New York City institutions.
- New York City Council Government — Collaborated with AAFE on the development of the Flushing Cultural Hub.
- New York State Attorney General Government — Hosts the organization's financial report through its Charities Registry.
- Queens Legal Services Partner — Partner organization that collaborates with AAFE in Queens on tenant support initiatives.
- Renaissance EDC Partner — Provides low-interest loans and services in collaboration with AAFE.
- Renaissance Economic Development Corporation Partner — AAFE affiliate CDFI providing small business loans and financial education programs.
- Sandra Ung Government — City Councilmember who joined AAFE in advancing the Flushing Cultural Hub project.
- Santander Government — AAFE participates in the community advisory board of this bank; also represented on AAFE’s board via Turney Singh Baba.
- Stabilizing NYC Coalition Coalition — Coalition partner working with AAFE on efforts to preserve affordable housing in New York City.
- Valley Bank Government — AAFE participates in the community advisory board of this bank.
- Van Alen Institute Partner — Thomas Yu serves on the board of this NYC nonprofit that uses architecture and design to support civic engagement in communities.
- YouTube Network — Hosts organizational videos on YouTube platform.
strategies · 4
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Community-Controlled Development for Systemic Changemethodology: community-controlled_developmentBy shifting from protest-based advocacy to hands-on, community-controlled development projects like affordable housing, we produce sustainable solutions to systemic inequality and displacement because local ownership ensures culturally relevant, lasting impact.
- Innovative Financing for Scalable Equitable Housingmethodology: innovative_affordable_housing_developmentBy using innovative financing and development models—such as low-income housing tax credits and affordable housing cooperatives—we produce scalable, citywide models for equitable development because these mechanisms allow replication and preservation of affordability in high-pressure urban markets.
- Integrated Support as Foundational Stabilitymethodology: integrated_support_servicesBy providing equitable access to affordable housing, government safety net programs, healthcare, and citizenship pathways together, we produce community well-being and stability because these interconnected needs must be addressed simultaneously to overcome structural barriers.
- Tenant Empowerment Through Organizingmethodology: tenant_empowerment_through_organizingBy supporting tenant associations and providing education to rent-stabilized tenants, we strengthen collective power and housing stability because organized tenants are better equipped to advocate for their rights and resist displacement.