CHINATOWN PARTNERSHIP LOCAL DEVELOPMENT CORP

EIN: 421650478 501(c)(3) Community Improvement

NEW YORK, NY

Total Revenue
$120,303
Total Expenses
$143,077
Total Assets
$573,687
Net Assets
$529,853
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
NY
Principal Officer
WELLINGTON CHEN
Phone
2123469288
Tax Period
2022-07-01 to 2023-06-30

CHINATOWN PARTNERSHIP LOCAL DEVELOPMENT CORP, founded in 2004, is a small nonprofit in the Community Improvement sector that reported $120K in total revenue in fiscal year 2022. Revenue fell 64% from the prior year — a significant decline worth monitoring. Expenses of $143K exceeded revenue, resulting in a 19% operating deficit.

Mission

TO ACT IN THE PUBLIC INTEREST BY CONCEIVING, DESIGNING, IMPLEMENTING, MANAGING, AND FACILITATING ECONOMIC DEVELOPMENT PROJECTS THAT BENEFIT RESIDENTS AND ORGANIZATIONS IN CHINATOWN IN NEW YORK CITY AS WELL AS THE GENERAL PUBLIC VISITING THE CHINATOWN AREA.

Program Service Accomplishments

Program 1
Expenses: $74,943 Revenue: $37,068

MARKETING AND ECONOMIC DEVELOPMENT - PROMOTING THE AREA TO RESIDENTS AND TOURISTS AND TO RETAIN AND DEVELOP PROSPECTIVE BUSINESSES BY PROVIDING INFORMATION THROUGH PRINTED MATERIAL AND ELECTRONIC...

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MARKETING AND ECONOMIC DEVELOPMENT - PROMOTING THE AREA TO RESIDENTS AND TOURISTS AND TO RETAIN AND DEVELOP PROSPECTIVE BUSINESSES BY PROVIDING INFORMATION THROUGH PRINTED MATERIAL AND ELECTRONIC MEDIA.

Program 2
Expenses: $36,040

PUBLIC IMPROVEMENTS - IMPROVING THE OVERALL APPEARANCE OF THE AREA THROUGH A COMBINATION OF BEAUTIFICATION AND OTHER PROJECTS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $77,084
Program Service Revenue $37,068
Investment Income $6,151
Other Revenue $0
TOTAL REVENUE $120,303

Expense Breakdown

Grants Paid $0
Salaries & Benefits $53,226
Fundraising Expenses $786
Program Expenses $110,983
Other Expenses $89,851
TOTAL EXPENSES $143,077

Year-over-Year Comparison

2022 2021 Change
Revenue $120,303 $334,557 -0.6%
Expenses $143,077 $203,915 -0.3%
Net Income $-22,774 $130,642 -1.2%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
18
Independent Members
18
Employees
7
Volunteers
18

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
7
$136,604
Total Directors
18
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WARREN W CHIN CHAIR 0.50
Officer Director
$0 $0 $0
JUNE JEE VICE CHAIR 0.50
Officer Director
$0 $0 $0
DAVID S CHEN CO-TREASURER 0.50
Officer Director
$0 $0 $0
KY CHOW CO-TREASURER 0.50
Officer Director
$0 $0 $0
SPENCER CHAN CO-SECRETARY 0.50
Officer Director
$0 $0 $0
SIO WAI SANG CO-SECRETARY 0.50
Officer Director
$0 $0 $0
KENNY CHAN DIRECTOR 0.50
Director
$0 $0 $0
YANG CHEN DIRECTOR 0.50
Director
$0 $0 $0
JIMMY CHENG DIRECTOR 0.50
Director
$0 $0 $0
DAVID FU DIRECTOR 0.50
Director
$0 $0 $0
MICHAEL LAMBERTI DIRECTOR 0.50
Director
$0 $0 $0
ELIZABETH LEE DIRECTOR 0.50
Director
$0 $0 $0
TINA LEE DIRECTOR 0.50
Director
$0 $0 $0
ROBIN MUI DIRECTOR 0.50
Director
$0 $0 $0
MEESEUNG JUDY NG DIRECTOR 0.50
Director
$0 $0 $0
RAYMOND TSANG DIRECTOR 0.50
Director
$0 $0 $0
TIMOTHY K WONG DIRECTOR 0.50
Director
$0 $0 $0
PATRICK YAU DIRECTOR 0.50
Director
$0 $0 $0
WELLINGTON CHEN EXECUTIVE DIRECTOR 25.00
Officer
$125,000 $11,604 $136,604
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 No data No data No data No data
2023 $120,303 $143,077 $573,687 $-22,774
2022 $334,557 $203,915 $626,132 $130,642
2021 $222,792 $274,766 $549,333 $-51,974
2020 $192,381 $167,360 $615,054 $25,021
2019 $257,135 $222,090 $561,450 $35,045
2018 $169,055 $168,232 $507,542 $823
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