apiasf 2009 annual report
TRANSCRIPT
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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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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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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&
PacifcIslanderAmericanScholarsip
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&
PacifcIslanderAmericanScholarsip
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&
PacifcIslanderAmericanScholarsip
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&
PacifcIslanderAmericanScholarsip
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&
PacifcIslanderAmericanScholarsip
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&
PacifcIslanderAmericanScholarsip
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&
PacifcIslanderAmericanScholarsip
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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Asian&
PacifcIslanderAmericanScholarsip
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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Asian&
PacifcIslanderAmericanScholarsip
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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Asian&
PacifcIslanderAmericanScholarsip
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: