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The Asia Foundation
The Asia Foundation reported $91.5 million in revenue and $96.7 million in expenses for the fiscal year ending September 30, 2025. Of every $100 it spent, $84.43 went to program services, $14.99 to management and general costs and $0.58 to fundraising. Its largest source of revenue was contributions and grants: 99.2% of the total. Government grants made up 87.2%. The highest compensation it reported for one person was $561,611 (CEO AND PRESIDENT). 70 people received more than $100,000 in reportable compensation. Revenue fell 14% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending September 30, 2025 · Form 990, Part IX, line 25 · total expenses $97MFor context, the median across 469 covered international, foreign affairs & national security charities: $89.04 programs, $8.28 management, $2.68 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending September 30, 2025 · Form 990, Part VIII · total revenue $92M- Contributions & grants (non-government)$12.00 $11M
- Government grants$87.06 $80M
- Investment income$0.94 $861K
Other revenue was negative: −$124K. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 84.4% | 86.1% |
| Management & general Part IX 25(C) ÷ 25(A) | 15.0% | 8.0% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.6% | 2.6% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.01 | $0.03 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 99.2% | 96.6% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 87.2% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 0.0% |
| Highest reported compensation Part VII-A, columns D–F | $561,611 | $341,362 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.58% | 1.06% |
| People paid over $100,000 Part VII, line 2 | 70 | 10 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 4.4 | 7.5 |
| Independent voting board members Part VI 1a–1b | 28 of 29 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseGovernance: 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…
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…
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…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CEO AND PRESIDENT Director/trustee, officer, 37.50 hrs/week | $524,705 | $0 | $36,906 | $561,611 |
| EVP & COO (THRU 2/25) Officer, 37.50 hrs/week | $350,833 | $0 | $44,051 | $394,884 |
| VP FINANCE & CFO (THRU 9/25) Officer, 37.50 hrs/week | $327,322 | $0 | $33,983 | $361,305 |
| COUNTRY REPRESENTATIVE Highest compensated employee, 37.50 hrs/week | $313,010 | $0 | $29,022 | $342,032 |
| VP PROGRAMS Key employee, 37.50 hrs/week | $282,076 | $0 | $48,284 | $330,360 |
| SR VP, WASHINGTON DC Officer, 37.50 hrs/week | $278,211 | $0 | $37,520 | $315,731 |
| COUNTRY REPRESENTATIVE Highest compensated employee, 37.50 hrs/week | $283,056 | $0 | $29,411 | $312,467 |
| CHIEF PEOPLE OFFICER Key employee, 37.50 hrs/week | $265,200 | $0 | $36,219 | $301,419 |
70 people received more than $100,000 in reportable compensation from The Asia Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $3.1M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b29 · 28 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5140
- Volunteers Part I, line 628
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| UNIT4 BUSINESS SOFTWARE It services | $562,114 |
| CENTERED NETWORKS It services | $232,369 |
| STOCKHOLM ENVIRONMENT INS Consultancy | $136,349 |
| CLARK NUBER PS Accounting & tax | $122,692 |
Individuals listed as contractors are left out. 5 contractors were paid more than $100,000 in all.
Correct a figure or respond
Every number above is copied from The Asia Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Asia Foundation, you can publish a response that is linked from this page.
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Of every $100 The Asia Foundation spent in FY2025, $84.43 went to programs. The full breakdown, from its IRS Form 990:
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Questions people ask
How much of The Asia Foundation's spending goes to programs?
In the fiscal year ending September 30, 2025, The Asia Foundation reported that 84.4% of its $96.7 million in expenses went to program services, 15.0% to management and general and 0.6% to fundraising (Form 990, Part IX).
How much does The Asia Foundation pay its top executive?
The largest total compensation The Asia Foundation reported for one person in the fiscal year ending September 30, 2025 was $561,611, for the role of CEO AND PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Asia Foundation get its money?
Of $91.5 million in revenue in the fiscal year ending September 30, 2025, 99.2% came from contributions and grants (including 87.2% from government grants) and 0.0% from program service revenue (Form 990, Part VIII).
Is The Asia Foundation a registered charity?
The IRS lists EIN 94-1191246 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending September 30, 2025, object 202612269349302901 · read the filing
- FY2024: Form 990 for the fiscal year ending September 30, 2024, object 202512189349301046 · read the filing
- FY2023: Form 990 for the fiscal year ending September 30, 2023, object 202432129349302153 · read the filing
- FY2022: Form 990 for the fiscal year ending September 30, 2022, object 202332079349300313 · read the filing
- FY2021: Form 990 for the fiscal year ending September 30, 2021, object 202242239349300609 · read the filing
- FY2020: Form 990 for the fiscal year ending September 30, 2020, object 202142239349302129 · read the filing
All filings for EIN 94-1191246: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.