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      <Form990PartVIISectionAGrp>
        <PersonNm>MY CHANG</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>ETHEL COFFINAS</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>HUI-YUAN NELSON CHAN</PersonNm>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <FormerOfcrEmployeesListedInd>0</FormerOfcrEmployeesListedInd>
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      <ContractorCompensationGrp>
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            <BusinessNameLine1Txt>CBIZ MARKS PANETH</BusinessNameLine1Txt>
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        <ContractorAddress>
          <USAddress>
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            <StateAbbreviationCd>NY</StateAbbreviationCd>
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        <ServicesDesc>AUDIT AND TAX SERVICES</ServicesDesc>
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      <ContractorCompensationGrp>
        <ContractorName>
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          <USAddress>
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            <StateAbbreviationCd>NY</StateAbbreviationCd>
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      <CntrctRcvdGreaterThan100KCnt>2</CntrctRcvdGreaterThan100KCnt>
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      <ProgramServiceRevenueGrp>
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        <BusinessCd>900099</BusinessCd>
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        <BusinessCd>900099</BusinessCd>
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        <BookValueAmt>1390244</BookValueAmt>
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        <DepreciationAmt>55000</DepreciationAmt>
        <BookValueAmt>12200</BookValueAmt>
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      <TotalBookValueLandBuildingsAmt>10412933</TotalBookValueLandBuildingsAmt>
      <InvstProgramRelatedOrgGrp>
        <Desc>INVESTMENT IN NORFOLK IIGP</Desc>
        <BookValueAmt>102616</BookValueAmt>
        <MethodValuationCd>C</MethodValuationCd>
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      <InvstProgramRelatedOrgGrp>
        <Desc>INVESTMENT IN ONE FLUSHING NP</Desc>
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      <InvstProgramRelatedOrgGrp>
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        <MethodValuationCd>C</MethodValuationCd>
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      <InvstProgramRelatedOrgGrp>
        <Desc>INVESTMENT IN NORFOLK GP</Desc>
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        <MethodValuationCd>C</MethodValuationCd>
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        <Desc>OTHER INVESTMENT</Desc>
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        <MethodValuationCd>C</MethodValuationCd>
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        <Desc>DUE FROM 501(C)(3) AFFILIATES</Desc>
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      <OtherAssetsOrgGrp>
        <Desc>TENANT SECURITY DEPOSIT</Desc>
        <BookValueAmt>668</BookValueAmt>
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      <OtherAssetsOrgGrp>
        <Desc>RIGHT-OF-USE ASSET- OPERATING</Desc>
        <BookValueAmt>1979256</BookValueAmt>
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      <OtherLiabilitiesOrgGrp>
        <Desc>REFUNDABLE ADVANCES</Desc>
        <Amt>227603</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>DUE TO AFFILIATES</Desc>
        <Amt>7783444</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>DEFERRED RENT OBLIGATION AND OTHER PAYABLES</Desc>
        <Amt>2677096</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>LEASE LIABILITY-OPERATING</Desc>
        <Amt>2000175</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>12688318</TotalLiabilityAmt>
      <FootnoteTextInd>X</FootnoteTextInd>
      <TotalRevEtcAuditedFinclStmtAmt>27116376</TotalRevEtcAuditedFinclStmtAmt>
      <OtherRevenueAmt>15543987</OtherRevenueAmt>
      <RevenueNotReportedAmt>15543987</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>11572389</RevenueSubtotalAmt>
      <RevenueNotReportedFinclStmtAmt>0</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>11572389</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>24488539</TotExpnsEtcAuditedFinclStmtAmt>
      <OtherExpensesIncludedAmt>15653928</OtherExpensesIncludedAmt>
      <ExpensesNotReportedAmt>15653928</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>8834611</ExpensesSubtotalAmt>
      <ExpensesNotRptFinclStmtAmt>0</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>8834611</TotalExpensesPerForm990Amt>
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        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
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      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>STANTON NORFOLK</BusinessNameLine1Txt>
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          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
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        <PurposeOfGrantTxt>REDESIGNED YOUTH LEARNING PROGRAM</PurposeOfGrantTxt>
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      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION</BusinessNameLine1Txt>
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          <AddressLine1Txt>2 ALLEN STREET 7TH FLOOR</AddressLine1Txt>
          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>10002</ZIPCd>
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        <RecipientEIN>133946529</RecipientEIN>
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        <NonCashAssistanceAmt>0</NonCashAssistanceAmt>
        <PurposeOfGrantTxt>ASSISTANCE TO SMALL BUSINESS</PurposeOfGrantTxt>
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      <RecipientTable>
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      <Total501c3OrgCnt>4</Total501c3OrgCnt>
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      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
      <SeverancePaymentInd>0</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>0</SupplementalNonqualRtrPlanInd>
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        <DeferredCompensationFlngOrgAmt>0</DeferredCompensationFlngOrgAmt>
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        <TotalCompensationRltdOrgsAmt>321349</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>HUI-YUAN NELSON CHAN</PersonNm>
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        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
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        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>195290</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>JENNIFER SUN</PersonNm>
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        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
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        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION PROVIDES A DRAFT FORM 990 TO THE BOARD FOR REVIEW. FIVE DAYS ARE ALLOWED FOR FEEDBACK, THROUGH THE BOARD TREASURER, BEFORE FORM 990 IS FINALIZED AND FILED. A COPY OF THE FILED FORM 990 IS PROVIDED TO THE BOARD FOR THEIR RECORDS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>DIRECTORS AND OFFICERS ARE PROVIDED WITH A COPY OF THE ORGANIZATION'S CURRENT CONFLICT OF INTEREST (COI) POLICY UPON APPOINTMENT, AND ANNUALLY THEREAFTER. DIRECTORS AND OFFICERS COMPLETE ANNUAL DECLARATIONS TO EITHER CONFIRM NO CONFLICTS, OR IDENTIFY POSSIBLE AND/OR ACTUAL CONFLICTS. NO CONFLICTS WERE REPORTED IN THIS ROUND OF CERTIFICATIONS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD OF DIRECTORS REVIEWS THE EXECUTIVE DIRECTOR'S ("ED") SALARY ANNUALLY AND APPROVES ANY CHANGES. THE REVIEW TAKES INTO ACCOUNT THE ED'S PERFORMANCE, COMMUNITY CONDITIONS, COMPARISONS BETWEEN SIMILAR TYPES OF POSITIONS, NATIONAL TRENDS, AND AAFE'S FINANCIAL POSITION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC BY REQUEST TO ANY BOARD MEMBER OR OFFICER. THESE DOCUMENTS ARE MAINTAINED AT THE ORGANIZATION'S REGISTERED OFFICE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XII, LINE 2C:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, SCHEDULE R:</FormAndLineReferenceDesc>
        <ExplanationTxt>ELECTION UNDER INTERNAL REVENUE CODE SECTION 168(H)(6)(F)(II) NOT TO BE TREATED AS AN TAX-EXEMPT ENTITY: THE EAST VILLAGE HOMES MANAGER CORP. LOCATED AT 2 ALLEN STREET 7TH FLOOR, NEW YORK NY HEREBY ELECTS UNDER INTERNAL REVENUE CODE SECTION 168(H)(6)(F)(II) NOT TO BE TREATED AS TAX-EXEMPT ENTITY FOR PURPOSES OF APPLYING THE RULES FOUND IN I.R.C. SECTION 168(H)(6). THIS ELECTION IS AVAILABLE TO BE MADE BY AN ENTITY THAT IS NOT TAX EXEMPT, BUT WHICH IS CONTROLLED 50% OR MORE BY A TAX-EXEMPT ENTITY. EAST VILLAGE HOMES MANAGER CORP. QUALIFIES TO MAKE SUCH ELECTION, A IT IS OWNED 100% BY ASIAN AMERICANS FOR EQUALITY, INC (A TAX-EXEMPT ENTITY). THE PURPOSE OF THIS ELECTION IS TO TREAT THE ENTITIES ALLOCABLE SHARE OF DEPRECIABLE PROPERTY OWNED BY EAST VILLAGE HOMES MANAGER CORP. AS PROPERTY WHICH IS NOT TAX-EXEMPT-USE PROPERTY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE RETURN IS BEING AMENDED TO UPDATE A RELATED RELATIONSHIP WITH A PARTNERSHIP IN SCHEDULE R. IN ADDITION, AN ELECTION UNDER INTERNAL REVENUE CODE SECTION 168(H)(6)(F)(II) IS INCLUDED.</ExplanationTxt>
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          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
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        <LegalDomicileStateCd>NY</LegalDomicileStateCd>
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          <BusinessNameLine1Txt>AAFE FAIR HOUSING CENTER INC</BusinessNameLine1Txt>
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          <StateAbbreviationCd>NY</StateAbbreviationCd>
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        <EIN>133943782</EIN>
        <PrimaryActivitiesTxt>LEASE OFFICE SPACE IN THE JACKSON HEIGHTS NEIGHBORHOOD OF QUEENS</PrimaryActivitiesTxt>
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          <CityNm>NEW YORK</CityNm>
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        <PrimaryActivitiesTxt>PROMOTE COMMON GOOD AND WELFARE AND ECONOMIC DEVELOPMENT IN NEW YORK</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>NY</LegalDomicileStateCd>
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          <BusinessNameLine1Txt>BREMOND KING DAVIS HOUSING DEVELOPMENT FUND CORPORATION</BusinessNameLine1Txt>
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          <AddressLine1Txt>108 NORFOLK ST</AddressLine1Txt>
          <CityNm>NEW YORK</CityNm>
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          <ZIPCd>10002</ZIPCd>
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        <EIN>473791580</EIN>
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          <AddressLine1Txt>2 ALLEN STREET 7TH FLOOR</AddressLine1Txt>
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          <AddressLine1Txt>141 NORFOLK STREET</AddressLine1Txt>
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          <BusinessNameLine1Txt>DOWNTOWN MANHATTAN COMMUNITY DEVELOPMENT</BusinessNameLine1Txt>
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        <EIN>834679494</EIN>
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        <PrimaryActivitiesTxt>PROVIDE AFFORDABLE RENTAL HOUSING</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>NY</LegalDomicileStateCd>
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          <BusinessNameLine1Txt>ASIAN AMERICANS FOR EQUALITY</BusinessNameLine1Txt>
        </DirectControllingEntityName>
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        <ShareOfEOYAssetsAmt>2777725</ShareOfEOYAssetsAmt>
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        <RelatedOrganizationName>
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        <USAddress>
          <AddressLine1Txt>2 ALLEN STREET 7TH FLOOR</AddressLine1Txt>
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        <LegalDomicileStateCd>NY</LegalDomicileStateCd>
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          <BusinessNameLine1Txt>ASIAN AMERICANS FOR EQUALITY INC</BusinessNameLine1Txt>
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      <IdRelatedOrgTxblCorpTrGrp>
        <RelatedOrganizationName>
          <BusinessNameLine1Txt>HARMONY 106 CORP</BusinessNameLine1Txt>
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          <AddressLine1Txt>141 NORFOLK STREET</AddressLine1Txt>
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          <StateAbbreviationCd>NY</StateAbbreviationCd>
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        <RelatedOrganizationName>
          <BusinessNameLine1Txt>EAST VILLAGE HOMES MANAGER CORP</BusinessNameLine1Txt>
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          <AddressLine1Txt>2 ALLEN STREET 7TH FLOOR</AddressLine1Txt>
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      <IdRelatedOrgTxblCorpTrGrp>
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          <BusinessNameLine1Txt>EAST VILLAGE HOUSING DEVELOPMENT FOUND COMPANY INC</BusinessNameLine1Txt>
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          <AddressLine1Txt>2 ALLEN STREET 7TH FLOOR</AddressLine1Txt>
          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
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        <LegalDomicileStateCd>NY</LegalDomicileStateCd>
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      <ReceiptOfIntAnntsRntsRyltsInd>1</ReceiptOfIntAnntsRntsRyltsInd>
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      <LoansOrGuaranteesFromOthOrgInd>1</LoansOrGuaranteesFromOthOrgInd>
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      <RentalOfFcltsFromOthOrgInd>1</RentalOfFcltsFromOthOrgInd>
      <PerformOfServicesForOthOrgInd>1</PerformOfServicesForOthOrgInd>
      <PerformOfServicesByOtherOrgInd>1</PerformOfServicesByOtherOrgInd>
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      <TransactionsRelatedOrgGrp>
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          <BusinessNameLine1Txt>HARDESTY RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION</BusinessNameLine1Txt>
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      <TransactionsRelatedOrgGrp>
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      <TransactionsRelatedOrgGrp>
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      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
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        <MethodOfAmountDeterminationTxt>ACCRUAL ACCOUNTING</MethodOfAmountDeterminationTxt>
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      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
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      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>DOWNTOWN MANHATTAN COMMUNITY DEVELOPMENT FUND</BusinessNameLine1Txt>
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        <MethodOfAmountDeterminationTxt>ACCRUAL ACCOUNTING</MethodOfAmountDeterminationTxt>
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      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>COMMUNITY HOMES HOUSING DEVELOPMENT FUND COMPANY</BusinessNameLine1Txt>
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      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
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      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>QUEENS IMMIGRATION CENTER CORPORATION</BusinessNameLine1Txt>
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      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>HARDESTY RENAISSANCE ECONOMIC DEVELOPMENT CORPORATION</BusinessNameLine1Txt>
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        <MethodOfAmountDeterminationTxt>ACCRUAL ACCOUNTING</MethodOfAmountDeterminationTxt>
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      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>GOLDEN ALLEN LLC</BusinessNameLine1Txt>
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</Return>