WALKER STREET CHUNG PAK LOCAL DEVELOPMENT CORPORATION

EIN: 133275044 501(c)(3) Housing & Shelter

NEW YORK, NY

Total Revenue
$2,021,618
Total Expenses
$1,871,813
Total Assets
$12,255,893
Net Assets
$7,589,837
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
NY
Principal Officer
SHERMAN ENG
Phone
2126258833
Tax Period
2023-05-01 to 2024-04-30

WALKER STREET CHUNG PAK LOCAL DEVELOPMENT CORPORATION, founded in 1985, is a community nonprofit in the Housing & Shelter sector that reported $2.0M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $1.9M left a modest 7% surplus.

Mission

WALKER STREET - CHUNG PAK LOCAL DEVELOPMENT CORPORATION (THE "CORPORATION") WAS INCORPORATED IN THE STATE OF NEW YORK ON MARCH 28, 1985 UNDER SECTION 1411 OF THE NOT-FOR-PROFIT CORPORATION LAW. WALKER STREET - CHUNG PAK LOCAL DEVELOPMENT CORPORATION WAS ORGANIZED TO IMPROVE THE QUALITY OF LIFE OF THE RESIDENTS OF COMMUNITY BOARDS NO. 1, 2, AND 3 BY DEVELOPING, OPERATING AND MAINTAINING COMMERCIAL FACILITIES.

Program Service Accomplishments

Program 1
Expenses: $1,424,051

THE CORPORATION IS A COMMERCIAL CENTER THAT PROVIDES MUCH NEEDED SPACE FOR COMMUNITY FACILITIES FOR THE INDIVIDUALS RESIDING WITH MANHATTAN COMMUNITY BOARDS NO. 1, 2 AND 3, INCLUDING MAJOR...

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THE CORPORATION IS A COMMERCIAL CENTER THAT PROVIDES MUCH NEEDED SPACE FOR COMMUNITY FACILITIES FOR THE INDIVIDUALS RESIDING WITH MANHATTAN COMMUNITY BOARDS NO. 1, 2 AND 3, INCLUDING MAJOR COMPREHENSIVE HEALTH CLINIC AND A CHILDCARE CENTER. IN ADDITION, THE BUILDING HOUSES COMMUNITY CENTRIC RETAIL STORES, ALL OF WHICH OFFER ESSENTIAL SERVICES TO THE WORKING FAMILIES LIVING IN THE AREA AND WHICH GREATLY IMPROVE THEIR QUALITY OF LIFE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,881,187
Investment Income $71,119
Other Revenue $69,312
TOTAL REVENUE $2,021,618

Expense Breakdown

Grants Paid $0
Salaries & Benefits $496,797
Fundraising Expenses $0
Program Expenses $1,424,051
Other Expenses $1,375,016
TOTAL EXPENSES $1,871,813

Year-over-Year Comparison

2023 2022 Change
Revenue $2,021,618 $1,622,617 +0.2%
Expenses $1,871,813 $1,656,437 +0.1%
Net Income $149,805 $-33,820 -5.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
3
Employees
3
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$215,384
Total Directors
3
$215,384
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHERMAN ENG ACTING CHAIR 35.00
Officer Director
$215,384 $0 $215,384
WING MA SECRETARY 0.50
Director
$0 $0 $0
PO-LING NG TREASURER 0.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $2,021,618 $1,871,813 $12,255,893 $149,805
2023 $1,622,617 $1,656,437 $10,446,190 $-33,820
2022 $2,154,904 $1,783,292 $10,578,473 $371,612
2021 $2,526,912 $1,531,140 $10,586,148 $995,772
2020 $2,707,273 $2,576,847 $10,074,570 $130,426
2019 $1,658,394 $1,718,899 $10,083,012 $-60,505
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