CHINESE NEW YEAR FESTIVAL COMMITTE… - Form 990 Financial Data

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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

1920

Legal Domicile

Principal Officer

DONALD LUU

Phone

4159823000

Tax Period

2023-07-01 to 2024-06-30

CHINESE NEW YEAR FESTIVAL COMMITTEE CHINESE CHAMBER OF COMMERCE OF SF, founded in 1920, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2023. Revenue surged 20% from the prior year, signaling strong growth momentum. Expenses of $2.2M left a modest 12% surplus.

Mission

TO EDUCATE THE GENERAL PUBLIC OF CHINESE CULTURE IN ORDER TO PROMOTE AND IMPROVE THE BUSINESS CONDITIONS WITHIN THE CHINESE COMMUNITY IN THE SAN FRANCISCO BAY AREA AND WORLDWIDE.

Program Service Accomplishments

Program 1

Expenses: $1,149,695 Revenue: $1,362,440

SAN FRANCISCO CHINESE NEW YEAR PARADE:HELD APPROXIMATELY TWO WEEKS FOLLOWING THE FIRST DAY OF THE CHINESE LUNAR NEW YEAR. IT IS ONE OF THE GRANDEST NIGHTTIME ILLUMINATED PARADES IN THE U.S.; THE...

SAN FRANCISCO CHINESE NEW YEAR PARADE:HELD APPROXIMATELY TWO WEEKS FOLLOWING THE FIRST DAY OF THE CHINESE LUNAR NEW YEAR. IT IS ONE OF THE GRANDEST NIGHTTIME ILLUMINATED PARADES IN THE U.S.; THE OLDEST AND THE BIGGEST CELEBRATION OF ASIAN CULTURE OUTSIDE OF ASIA.STARTED IN THE EARLY 1900'S AS A MEANS TO EDUCATE THE COMMUNITY ABOUT CHINESE CULTURE.

Program 2

Expenses: $334,368 Revenue: $142,046

MISS CHINATOWN USA PAGEANT & CORONATION BALL:THE MISS CHINATOWN USA PAGEANT, BASED IN CHINESE COMMUNITIES WITHIN THE U.S., GREETS DELEGATES AROUND THE COUNTRY. THE PAGEANT HAS BEEN AN ANNUAL LUNAR...

MISS CHINATOWN USA PAGEANT & CORONATION BALL:THE MISS CHINATOWN USA PAGEANT, BASED IN CHINESE COMMUNITIES WITHIN THE U.S., GREETS DELEGATES AROUND THE COUNTRY. THE PAGEANT HAS BEEN AN ANNUAL LUNAR NEW YEAR EVENT SINCE THE EARLY 1950'S.WINNERS OF THE PAGEANT ARE AWARDED SCHOLARSHIPS, REPRESENT THE CHINESE COMMUNITY, AND ACT AS GOODWILL AMBASSADORS PROMOTING CHINESE CULTURE AND HERITAGE.

Program 3

Expenses: $251,361 Revenue: $279,581

CHINESE NEW YEAR STREET FAIR:THE ANNUAL TWO-DAY CHINESE NEW YEAR COMMUNITY STREET FAIR HELD IN CONJUNCTION WITH THE ANNUAL NEW YEAR PARADE. THIS COMMUNITY FAIR OFFERS SIGHTS AND SOUNDS OF THE SF...

CHINESE NEW YEAR STREET FAIR:THE ANNUAL TWO-DAY CHINESE NEW YEAR COMMUNITY STREET FAIR HELD IN CONJUNCTION WITH THE ANNUAL NEW YEAR PARADE. THIS COMMUNITY FAIR OFFERS SIGHTS AND SOUNDS OF THE SF EXHILARATING CHINATOWN WITH OVER 120 BOOTHS AND CONCESSIONS, AND TRADITIONAL AND MODERN ENTERTAINMENT PERFORMANCES SUCH AS CHINESE FOLK DANCING, ACROBATICS, LION DANCING, & ETC.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $597,047

Program Service Revenue $1,784,067

Investment Income $68,430

Other Revenue $26,972

TOTAL REVENUE $2,476,516

Expense Breakdown

Grants Paid $81,500

Salaries & Benefits $272,580

Fundraising Expenses $0

Program Expenses $1,735,424

Other Expenses $1,826,056

TOTAL EXPENSES $2,180,136

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,476,516	$2,057,880	+0.2%
Expenses	$2,180,136	$1,940,901	+0.1%
Net Income	$296,380	$116,979	+1.5%

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

Governance

Voting Members

Independent Members

Employees

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

$49,382

Total Directors

$88,782

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HARLAN WONG	1ST VICE PRESID	0.25	Officer Director	$49,382	$0	$49,382
MICHAEL LAU	Director	0.50	Director	$20,000	$0	$20,000
TONY LAU	Director	1.00	Director	$12,300	$0	$12,300
EDMOND LEW	BOARDMEMBER	0.13	Director	$7,100	$0	$7,100
ANDY ZHAO	Director	0.13	Director	$0	$0	$0
DONALD LUU	President	0.25	Officer Director	$0	$0	$0
GRACE YUEN	2ND VICE PRESID	0.25	Officer Director	$0	$0	$0
STILWELL YANG	Secretary	0.25	Officer Director	$0	$0	$0
ROBERT CHIANG	Treasurer	0.25	Officer Director	$0	$0	$0
BEN MAN GONG	ASST TREASURER	0.25	Officer Director	$0	$0	$0
KENNY TSE	Director	0.13	Director	$0	$0	$0
HON KEUNG SO	Director	0.13	Director	$0	$0	$0
KINSON WONG	Director	0.13	Director	$0	$0	$0
CALVIN LOUIE	Director	0.13	Director	$0	$0	$0
PHIL CHIN	Director	0.13	Director	$0	$0	$0
CHELSEA HUNG	Director	0.13	Director	$0	$0	$0
ANSON HUNG	Director	0.13	Director	$0	$0	$0
KATHERINE ZHANG	Director	0.13	Director	$0	$0	$0
RICHARD WAN	Director	0.13	Director	$0	$0	$0
LINDA CHOW	Director	0.13	Director	$0	$0	$0
WADE LAI	Director	0.13	Director	$0	$0	$0
TONY ZHANG	Director	0.13	Director	$0	$0	$0
KITMAN CHAN	Director	0.13	Director	$0	$0	$0
AMY LO	Director	0.13	Director	$0	$0	$0
DOUGLAS WONG	Director	0.13	Director	$0	$0	$0
ALEX FONG	Director	0.13	Director	$0	$0	$0
KENNY LAU	Director	0.13	Director	$0	$0	$0
DAVID LUO	Director	0.13	Director	$0	$0	$0
DEREK FONG	SUPERVISORY PRE	0.25	Officer Director	$0	$0	$0
GEORGE MAX	SUPERVISORY VP	0.25	Officer Director	$0	$0	$0
EDDIE AU	BOARDMEMBER	0.13	Director	$0	$0	$0
RINGO WNG	BOARDMEMBER	0.13	Director	$0	$0	$0
FRANCIS SO	BOARDMEMBER	0.13	Director	$0	$0	$0
MAY ANN WONG	BOARDMEMBER	0.13	Director	$0	$0	$0
GORDON CHIN	BOARDMEMBER	0.13	Director	$0	$0	$0
MALCOLM YEUNG	BOARDMEMBER	0.13	Director	$0	$0	$0
JUDY LEE	BOARDMEMBER	0.13	Director	$0	$0	$0
MICHAEL KAY	BOARDMEMBER	0.13	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	$2,476,516	$2,180,136	$2,818,592	$296,380
2023	$2,057,880	$1,940,901	$2,446,655	$116,979
2022	$1,683,314	$1,661,140	$2,322,397	$22,174
2021	$693,291	$721,863	$2,293,059	$-28,572
2020	$2,019,183	$1,724,980	$2,309,440	$294,203
2019	$1,824,858	$1,630,724	$1,999,987	$194,134

CHINESE NEW YEAR FESTIVAL COMMITTEE CHINESE CHAMBER OF COMMERCE OF SF