Better Business Bureau Report for
Asia Society Texas Center

Better Business Bureau Report issued February 2014
Better Business Bureau Report expires February 2015


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Asia Society Texas Center
Address: 1370 Southmore Boulevard
  Houston, TX 77004
Phone: 713-496-9901
Web Address: www.asiasociety.org/centers/texas
Also known as:Asia House
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Better Business Bureau Comments

Year, State Incorporated: 2007, Texas
Affiliates: None
Stated Purpose: Asia Society is the leading educational organization dedicated to promoting mutual understanding and strengthening partnerships among peoples, leaders and institutions of Asia and the United States in a global context. Across the fields of arts, business, culture, education, and policy, the Society provides insight, generates ideas, and promotes collaboration to address present challenges and create a shared future. An independent organization with nonprofit status, Asia Society Texas Center fulfills this mission in concert with ten other centers across the globe.

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Evaluation Conclusions

              

Asia Society Texas Center meets the 20 Standards for Charity Accountability.
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Programs

              

Asia Society Texas Center offers educational opportunities through programming in business, policy, visual and performing arts, and culture, in addition to having visual art exhibitions at its facility in Houston's Museum District. Programs focus on a broad definition of Asia, including more than 30 countries defined as the Asia-Pacific region — the area from Japan to Iran, and from Central Asia to New Zealand, Australia, and the Pacific Islands. In 2012, the Grand Opening of The Center had over 9,000 in attendance and Asia Society Texas Center expects to produce over 350 programs reaching over 50,000 people.

For the fiscal year ended June 30, 2013, Asia Society Texas Center's program expenses were:

  
Program services 4,006,371
Total Program Expenses: $4,006,371
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Governance

              

Chief Executive : Bonna Kol, Executive Director
Compensation*: 

Chair of the Board: Charles C. Foster, Chairman
Chair's Profession / Business Affiliation: FosterQuan LLP, attorney

Board Size: 22

Paid Staff Size: 29

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

direct mail, invitations to fund raising events, print advertisements, grant proposals, internet
Fund raising costs were 24% of related contributions. (Related contributions, which totaled $1,685,984, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Asia Society Texas Center's audited financial statements for the fiscal year ended June 30, 2013.

Source of Funds  
Contributions 759,869
Program fees and other earned revenue 391,778
Fundraisers, net 390,019
Memberships 144,318
Present value adjustment for contributions receivable 31,911
Dividends and interest 27,152
Net assets released from restrictions
Total Income $1,745,047


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Uses of Funds as a % of Total Expenses

Programs: 82%  Fund Raising: 8%  Administrative: 10% 

Total income $1,745,047
Program expenses $4,006,371
Fund raising expenses 397,960
Administrative expenses 464,922
Total expenses $4,869,253
Expenses in Excess of Income (3,124,206)
Beginning net assets 50,412,138
Ending net assets 47,297,388
Total liabilities 1,335,317
Total assets $48,632,705


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Complaints

              

BBB has processed no customer complaints on this charity in its three year reporting period.

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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