CHINATOWN MUSEUM FOUNDATION CHINESE AMERICAN MUSEUM OF CHICAGO

EIN: 364492615 501(c)(3) Arts, Culture & Humanities

CHICAGO, IL

Total Revenue
$307,297
Total Expenses
$439,574
Total Assets
$4,692,759
Net Assets
$4,667,484
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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
2002
Legal Domicile
IL
Principal Officer
EDWARD JUNG
Phone
3129491000
Tax Period
2023-01-01 to 2023-12-31

CHINATOWN MUSEUM FOUNDATION CHINESE AMERICAN MUSEUM OF CHICAGO, founded in 2002, is a small nonprofit in the Arts, Culture & Humanities sector that reported $307K in total revenue in fiscal year 2023. Revenue fell 86% from the prior year — a significant decline worth monitoring. Expenses of $440K exceeded revenue, resulting in a 43% operating deficit.

Mission

PROMOTE CULTURE AND HISTORY OF CHINESE AMERICANS IN THE MIDWEST THROUGH EXIBITS, EDUCATION AND RESEARCH. THE MUSEUM BUILDING IS LOCATED IN CHICAGO'S CHINATOWN, AT 238 WEST 23RD STREET.

Program Service Accomplishments

Program 1
Expenses: $344,805 Revenue: $71,528

EXHIBITIONS, EDUCATION, AND RESEARCH OF CHINESE-AMERICANS IN THE MIDWEST PRIMARILY IN THE MUSEUM LOCATED IN CHICAGO.

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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 $174,641
Program Service Revenue $22,977
Investment Income $48,467
Other Revenue $61,212
TOTAL REVENUE $307,297

Expense Breakdown

Grants Paid $0
Salaries & Benefits $258,684
Fundraising Expenses $841
Program Expenses $344,805
Other Expenses $180,890
TOTAL EXPENSES $439,574

Year-over-Year Comparison

2023 2022 Change
Revenue $307,297 $2,246,741 -0.9%
Expenses $439,574 $363,228 +0.2%
Net Income $-132,277 $1,883,513 -1.1%
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
9
Independent Members
9
Employees
11
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
3
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
EDWARD JUNG PRESIDENT 2.00
Officer Director
$0 $0 $0
JUDY SOOHOO SECRETARY 2.00
Officer Director
$0 $0 $0
JOHN HSIAO TREASURER 2.00
Officer Director
$0 $0 $0
SOO LON MOY DIRECTOR 2.00
Director
$0 $0 $0
ANDREA STAMM DIRECTOR 2.00
Director
$0 $0 $0
JOHN ROHSENOW DIRECTOR 2.00
Director
$0 $0 $0
RICHARD FRACHEY DIRECTOR 2.00
Director
$0 $0 $0
SWEE CHENG DIRECTOR 2.00
Director
$0 $0 $0
ROBERT DAVIS DIRECTOR 2.00
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
2024 No data No data No data No data
2023 $307,297 $439,574 $4,692,759 $-132,277
2022 $2,246,741 $363,228 $4,648,476 $1,883,513
2021 $440,074 $295,121 $2,851,215 $144,953
2020 $228,038 $291,171 $2,639,173 $-63,133
2019 $303,204 $351,650 $2,613,045 $-48,446
2018 $301,745 $291,249 $2,653,285 $10,496
2018 $288,516 $338,345 $2,593,131 $-49,829
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