CharityWatch REPORT
Issued June 2016

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

Any time an Analysts' Note refers to a charity's Audited Financial Statements or IRS tax form, CharityWatch encourages interested donors to obtain a copy of the referenced documents so that they may view the information in context. Please contact the charity directly to request a copy of any referenced document. Charity tax forms and audits may also be obtained from a number of online databases. For a list of sources, please visit our LINKS page.

CharityWatch's rating of Asia Society does not include the financial activities of its affiliates in Houston, Texas; Hong Kong; Manila; Mumbai; Seoul; or Sydney. According to the Asia Society audit of 6/30/2015 (Note 1, Organization):

"Each affiliate operates in concert with the Society based on a Global Operating Agreement and pays an annual participation fee to the Society in consideration of being part of the Society organization and the global services provided by the Society. In addition, the Society has entered into an agreement with each affiliate under which the Society has granted a royalty-free license to use the Society's trademark and related marks and trade names."

CharityWatch's rating of Asia Society includes the financial activities of the offices included in its IRS Form 990 filing (ID#13-3234632) and related audited financial statements. According to the Asia Society audit (Note 1), "Headquartered in New York City, the organization has centers in Los Angeles and San Francisco and an office in Washington, D.C. and a representative in Shanghai."
According to the Asia Society tax filing for the fiscal year-ended 6/30/2015 (IRS Form 990 Schedule L, Transactions with Interested Persons):

"Kevin Rudd is a trustee and officer of the Organization. Funds were advanced to Mr. Rudd in association with a rental property. That advance has been subsequently documented in a loan agreement contract" (990 Schedule L, Part V).

The loan amount due at 6/30/2015 is reported as $60,000 (990 Schedule L, Part II).

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