FOR IMMEDIATE RELEASE
Contact: Nina Tran, External Vice President
UVSA Tet Festival 2012 raises nearly $500,000 in revenue
Garden Grove, CA – This past Sunday, the Union of Vietnamese Student Associations of Southern California (UVSA) announced the Tet Festival 2012 finances at the Post-Tet Festival Press Conference, Staff Appreciation, and Miss Vietnam of Southern California Coronation banquet at Mon Cheri Banquet. A total of $496,695.76 was received in total revenues, $269,510.10 was spent on total expenses, a net profit of $227,185.66 was reported, and a total of $83,592.83 will be donated to the Southern California community through the UVSA Community Assistance Fund (see detailed list attached).
Since 1982, UVSA has been organizing the Tet Festival in Little Saigon, providing an opportunity for the Vietnamese American community in Southern California to celebrate the Vietnamese Lunar New Year. In 2002, UVSA established a Community Assistance Fund whereas 50% of the net proceeds from each year’s Tet Festival would go back to the community by means of grants. All non-profit, non-political organizations are eligible to apply for this grant, with priority given to organizations which serve communities in Little Saigon and throughout Southern California. From 2001-2011, UVSA has given back more than $1 million. Community Assistance Fund applications will be accepted from today until Sunday, May 20th, 2012 (see application attached).
Each year, the Tet Festival draws in between 50,000-100,000 visitors throughout California, the United States, and around the world with more than 300 vendor and sponsor booths. More importantly, the festival emphasizes on promoting Vietnamese culture and tradition with special features such as Vietnamese cultural village, traditional royal court procession, Vietnamese wedding, and cultural performances. Over the course of six months, more than 200 volunteers and 30 community organizations come together to put on this 3-day event that has truly become a community festival.
As a non-profit, non-partisan, community-based organization, UVSA was founded in 1982 as a mean for youths to organize socially and politically within the local community. UVSA exists to advocate for the educational, social, political, and cultural welfare of the Vietnamese American community. Currently, UVSA represents VSAs from 13 universities and over 15 high schools throughout Southern California. For more information, please visit www.UVSA.org.