Totals
- Total revenue
- $756,909
- Total expenses
- $389,941
- Contributions and grants received
- $791,596
- Grants paid
- $14,071
- Program service revenue
- $400
- Investment income
- $0
- Other revenue
- -$35,087
- Total assets, end of year
- $2,288,894
- Total liabilities, end of year
- $1,921,926
- Net assets or fund balances, end of year
- $366,968
- Program services expenses (Part IX)
- $310,877
- Management and general expenses
- $52,850
- Fundraising expenses
- $26,214
- Program service expenses (Part III)
- $310,877
Program services were 79.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$36,412
-
1f · All other contributions, gifts and grants
$755,184
-
1g · Noncash contributions included above
$15,645
-
2a · Program service revenue: Program Service Fees
total $400 · unrelated business $0 · excluded $0
-
8a · Fundraising events: gross income
$2,423
-
8a · Fundraising events: contributions included on line 1c
$36,412
-
8b · Fundraising events: direct expenses
$37,510
-
8c · Net income from fundraising events
total -$35,087 · unrelated business $0 · excluded -$35,087
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $14,071 · program services $14,071
-
5 · Compensation of officers, directors and key employees
total $24,925 · program services $17,447 · management and general $3,739 · fundraising $3,739
-
7 · Other salaries and wages
total $90,684 · program services $67,081 · management and general $5,436 · fundraising $18,167
-
9 · Other employee benefits
total $5,999 · program services $4,379 · management and general $480 · fundraising $1,140
-
10 · Payroll taxes
total $8,167 · program services $5,962 · management and general $653 · fundraising $1,552
-
11c · Fees: accounting
total $21,000 · program services $10,500 · management and general $10,500 · fundraising $0
-
11g · Fees: other
total $59,055 · program services $43,050 · management and general $16,005 · fundraising $0
-
13 · Office expenses
total $606 · program services $0 · management and general $0 · fundraising $606
-
14 · Information technology
total $1,369 · program services $136 · management and general $1,233 · fundraising $0
-
16 · Occupancy
total $121,555 · program services $109,400 · management and general $12,155 · fundraising $0
-
17 · Travel
total $1,737 · program services $1,303 · management and general $434 · fundraising $0
-
19 · Conferences, conventions and meetings
total $1,952 · program services $1,464 · management and general $488 · fundraising $0
-
23 · Insurance
total $1,560 · program services $1,170 · management and general $390 · fundraising $0
-
24a · Other expenses: License, dues, and fees
total $225 · program services $0 · management and general $225 · fundraising $0
-
24b · Other expenses: Postage and delivery
total $180 · program services $90 · management and general $90 · fundraising $0
-
24c · Other expenses: Processing and other fees
total $2,032 · program services $0 · management and general $1,022 · fundraising $1,010
-
24d · Other expenses: Program expenses & supplies
total $34,824 · program services $34,824 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0 · end of year $352,430
-
9 · Prepaid expenses and deferred charges
beginning of year $0 · end of year $3,419
-
10a · Land, buildings and equipment: cost or other basis
$53,856
-
10b · Land, buildings and equipment: accumulated depreciation
$0
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $53,856
-
15 · Other assets
beginning of year $0 · end of year $1,879,189
-
17 · Accounts payable and accrued expenses
beginning of year $0 · end of year $21,924
-
25 · Other liabilities
beginning of year $0 · end of year $1,900,002
-
27 · Net assets without donor restrictions
end of year $366,968
Mission and programs · 2023
Mission
Driving Manhattans Chinatown towards a future where tradition meets innovation, our mission is to bolster local businesses and entrepreneurs and to forge connections within and across our community. Together, we will keep Chinatown open as a beacon of cultural and economic resilience.
Activities or mission (Part I)
Driving Manhattans Chinatown towards a future where tradition meets innovation, our mission is to bolster local businesses and entrepreneurs and to forge connections within and across our community.
-
Our work is carried out through programming and events at our Small Business Innovation Hub - the first-in-kind gathering space to empower small businesses, build bridges and champion sustainable growth. The Hub - Our Small Business Innovation Hub includes programming and events across our Coach, Connect, Invest, and Innovate verticals. The Hubs co-working and meeting rooms provide third-party spaces for our community to foster collaboration and innovation to build Chinatowns long term economic and cultural sustainability. We hosted 52 events and programs in 2023. Longevity Fund (Coach + Invest) - We provided small businesses and budding entrepreneurs training and hands on support with a focus on succession planning and new business incubation. Our Longevity Fund helps small businesses and entrepreneurs reach their targets through funding and venture support. We supported 97 businesses and residents in 2023. Community Outreach (Connect) - We drove collaboration to build community while reaching goals. We hosted family meals, connected small businesses with corporate partners, and created Made in Chinatown Labs to foster the freelance economy. We engaged about 43,000 attendees in 2023.
Expenses $310,877 · Grants $14,071 · Revenue $400
As filed on the 2023 return.
Listed in Part VII
-
Victoria Lee
Chief Executive Officer
- Total calculated
- $24,924
- From this org
- $22,909
- From related orgs
- $0
- Other
- $2,015
- Hours/week
- 40
-
Jennifer Tam
Chairman
- Total calculated
- $0
- Hours/week
- 1
-
Gerald Lam
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Andrew Tein
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Pam Yang
Director
- Total calculated
- $0
- Hours/week
- 1
-
Linus Li
Director
- Total calculated
- $0
- Hours/week
- 1
-
Golam Khan
Director
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 23 September 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403189349310510
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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