Totals
- Total revenue
- $1,487,162
- Total expenses
- $1,657,708
- Contributions and grants received
- $1,611,043
- Grants paid
- $39,477
- Program service revenue
- $9,618
- Investment income
- $815
- Other revenue
- -$134,314
- Total assets, end of year
- $3,412,912
- Total liabilities, end of year
- $3,216,490
- Net assets or fund balances, end of year
- $196,422
- Program services expenses (Part IX)
- $1,236,830
- Management and general expenses
- $287,609
- Fundraising expenses
- $133,269
- Program service expenses (Part III)
- $1,236,830
Program services were 74.6% 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
$141,859
-
1e · Government grants (contributions)
$469,500
-
1f · All other contributions, gifts and grants
$999,684
-
2a · Program service revenue: Program Service Fees
total $9,618 · unrelated business $0 · excluded $0
-
3 · Investment income
total $815 · unrelated business $0 · excluded $815
-
8a · Fundraising events: gross income
$30,750
-
8a · Fundraising events: contributions included on line 1c
$141,859
-
8b · Fundraising events: direct expenses
$165,064
-
8c · Net income from fundraising events
total -$134,314 · unrelated business $0 · excluded -$134,314
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $39,477 · program services $39,477
-
5 · Compensation of officers, directors and key employees
total $121,341 · program services $101,117 · management and general $10,112 · fundraising $10,112
-
7 · Other salaries and wages
total $304,660 · program services $221,403 · management and general $66,865 · fundraising $16,392
-
9 · Other employee benefits
total $31,700 · program services $24,000 · management and general $5,728 · fundraising $1,972
-
10 · Payroll taxes
total $30,905 · program services $23,398 · management and general $5,584 · fundraising $1,923
-
11b · Fees: legal
total $4,835 · program services $4,835 · management and general $0 · fundraising $0
-
11c · Fees: accounting
total $90,690 · program services $0 · management and general $90,690 · fundraising $0
-
11g · Fees: other
total $416,795 · program services $254,129 · management and general $75,908 · fundraising $86,758
-
12 · Advertising and promotion
total $7,571 · program services $4,400 · management and general $151 · fundraising $3,020
-
13 · Office expenses
total $12,748 · program services $11,487 · management and general $1,261 · fundraising $0
-
14 · Information technology
total $33,904 · program services $10,905 · management and general $11,283 · fundraising $11,716
-
16 · Occupancy
total $337,254 · program services $337,254 · management and general $0 · fundraising $0
-
17 · Travel
total $56,966 · program services $55,834 · management and general $1,084 · fundraising $48
-
19 · Conferences, conventions and meetings
total $22,048 · program services $20,819 · management and general $1,208 · fundraising $21
-
20 · Interest
total $28,150 · program services $28,150 · management and general $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $22,484 · program services $22,484 · management and general $0 · fundraising $0
-
23 · Insurance
total $7,618 · program services $310 · management and general $7,308 · fundraising $0
-
24a · Other expenses: Food - Participants
total $29,800 · program services $28,964 · management and general $836 · fundraising $0
-
24b · Other expenses: Program expenses & supplies
total $27,084 · program services $27,084 · management and general $0 · fundraising $0
-
24c · Other expenses: Processing and other fees
total $15,391 · program services $6,646 · management and general $8,538 · fundraising $207
-
24d · Other expenses: Books, Subscriptions, Reference
total $9,174 · program services $9,174 · management and general $0 · fundraising $0
-
24e · All other expenses
total $7,113 · program services $4,960 · management and general $1,053 · fundraising $1,100
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $352,430 · end of year $504,761
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $416,000
-
9 · Prepaid expenses and deferred charges
beginning of year $3,419 · end of year $10,342
-
10a · Land, buildings and equipment: cost or other basis
$787,606
-
10b · Land, buildings and equipment: accumulated depreciation
$22,484
-
10c · Land, buildings and equipment, net
beginning of year $53,856 · end of year $765,122
-
15 · Other assets
beginning of year $1,879,189 · end of year $1,716,687
-
17 · Accounts payable and accrued expenses
beginning of year $21,924 · end of year $177,125
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $35,000
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $1,231,000
-
25 · Other liabilities
beginning of year $1,900,002 · end of year $1,773,365
-
27 · Net assets without donor restrictions
beginning of year $366,968 · end of year $196,422
Mission and programs · 2024
Mission
Welcome to Chinatown strengthens Chinatowns small business ecosystem through coaching, capital matchmaking, cultural integration, and thought leadership. We provide entrepreneurs with the tools, data, and community infrastructure needed to thrive while ensuring that Chinatowns cultural heritage remains central to its economic future.
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.
-
In 2024, Welcome to Chinatown (WtC) launched the newly renovated Small Business Innovation Hub at 115 Bowery-the neighborhoods first community space dedicated to entrepreneurial growth and cultural preservation. Through 50+ workshops and activations, WtC served 452 entrepreneurs through business coaching, succession planning, and digital readiness. WtCs public programming garnered 28K attendees, including through our tentpole Lunar New Year programming. As for summer 2024, WtC is one of 26 New York State Entrepreneurs Assistance Centers servicing Lower Manhattan small businesses with a special focus on AAPI small businesses and entrepreneurs more broadly. - In 2024, WtC continued its organizational evolution from pandemic response to long-term community development. Building on findings from its 2022 Chinatown Impact Study and the 2024 Succession Planning Framework developed with HR&A Advisors, WtC expanded its program infrastructure and internal systems to support measurable, lasting impact. - To meet the growing demand for programs and create lasting community infrastructure, WtC completed a major capital renovation of its Small Business Innovation Hub at 115 Bowery. This project represented a significant investment in the neighborhoods future and was financed through a mix of public support, private contributions, and mission- aligned debt, allowing WtC to scale its impact while establishing a sustainable long-term base for operations. - WtC also deepened cross-sector collaboration through convenings such as the Chinatown Food Systems Roundtable and the North America Chinatown Solidarity Conference, reinforcing its role as a trusted convener among public, private, and philanthropic partners. These efforts strengthened Chinatowns small-business ecosystem while building institutional capacity for financial management, program evaluation, and community engagement. - Collectively, these initiatives position Welcome to Chinatown as a leading model for community-based economic development-linking entrepreneurship, cultural preservation, and data-driven policy to ensure that Manhattans Chinatown remains a vibrant, self-sustaining economy for generations to come.
Expenses $1,236,830 · Grants $39,477 · Revenue $9,618
As filed on the 2024 return.
Listed in Part VII
-
Victoria Lee
Chief Executive Officer
- Total calculated
- $132,362
- From this org
- $121,340
- From related orgs
- $0
- Other
- $11,022
- 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
- 2024
- Filed
- 15 September 2025
- IRS schema version
- 2024v5.2
- Source object
- 202523189349305227
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