Nonprofit · EIN 88-1524156
WELCOME TO CHINATOWN INC
Tax-exempt · NEW YORK, NY 10002
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,487,162 | $1,657,708 | -$170,546 | $3,412,912 | $3,216,490 | $196,422 |
| December 31, 2023 | 990 | $756,909 | $389,941 | $366,968 | $2,288,894 | $1,921,926 | $366,968 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,611,043
- of which government grants
- $469,500
- Program service revenue
- $9,618
- Investment income
- $815
- Net income from fundraising events
- -$134,314
- Other revenue
- -$134,314
Expenses
- Grants and similar amounts paid
- $39,477
- Compensation of officers, directors and key employees
- $121,341
- Other salaries and wages
- $304,660
- Salaries, compensation and benefits (total)
- $488,606
- Professional fundraising fees
- $0
- Legal fees
- $4,835
- Accounting fees
- $90,690
- Occupancy
- $337,254
- Travel
- $56,966
- Depreciation
- $22,484
- Program services (functional)
- $1,236,830
- Management and general (functional)
- $287,609
- Fundraising (functional)
- $133,269
Balance sheet and other
- Total assets, start of year
- $2,288,894
- Total assets, end of year
- $3,412,912
- Total liabilities, end of year
- $3,216,490
- Net assets, end of year
- $196,422
- Land, buildings and equipment
- $765,122
- Net assets without donor restrictions
- $196,422
- Gross receipts
- $1,652,226
- Employees
- 4
- Volunteers
- 210
- Year formed
- 2022
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Victoria Lee | Chief Executive Officer Officer | 40 | $121,340 | $11,022 |
| Jennifer Tam | Chairman Trustee or director, Officer | 1 | $0 | $0 |
| Gerald Lam | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Andrew Tein | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Pam Yang | Director Trustee or director | 1 | $0 | $0 |
| Linus Li | Director Trustee or director | 1 | $0 | $0 |
| Golam Khan | Director Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Victoria Lee | Chief Executive Officer Officer | 40 | $22,909 | $2,015 |
| Jennifer Tam | Chairman Trustee or director, Officer | 1 | $0 | $0 |
| Gerald Lam | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Andrew Tein | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Pam Yang | Director Trustee or director | 1 | $0 | $0 |
| Linus Li | Director Trustee or director | 1 | $0 | $0 |
| Golam Khan | Director Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 115 BOWERY STREET GROUND FLOOR, NEW YORK, NY 10002-4933
- Mailing address (990-N for 2022)
- 244 Fifth Avenue Suite 1462, New York NY 10001
- Principal officer (990 for 2024)
- Victoria Lee, 115 Bowery Ground FL, New York, NY 10002
- Principal officer (990-N for 2022)
- Victoria Lee, 343 Grand Street Unit 3, New York NY 10002
- Signed the 990
- Victoria Lee, Chief Executive Officer
- Phone
- (646) 410-2391
- Website
- www.welcometochinatown.com
- Return prepared by
- John Vazzana CPA PLLC
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.
Program accomplishments
- 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
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 88-1524156
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2023
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S20)
- Assets (IRS master file)
- $3,412,912
- Income (IRS master file)
- $1,652,226
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,487,162 | $1,657,708 | $3,412,912 | XML |
| 990 | December 2023 | $756,909 | $389,941 | $2,288,894 | XML |
| 990-N for 2022 Officer: Victoria Lee | December 31, 2022 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 88-1524156).
Questions about WELCOME TO CHINATOWN INC
- What is the EIN of WELCOME TO CHINATOWN INC?
- The employer identification number (EIN) of WELCOME TO CHINATOWN INC is 88-1524156.
- Is WELCOME TO CHINATOWN INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to WELCOME TO CHINATOWN INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WELCOME TO CHINATOWN INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of WELCOME TO CHINATOWN INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WELCOME TO CHINATOWN INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of WELCOME TO CHINATOWN INC?
- The 990 for the year ended December 31, 2024 names Victoria Lee.
- Who are the officers and directors of WELCOME TO CHINATOWN INC?
- The 990 for the year ended December 31, 2024 lists 7 people; 1 received compensation from the organization, the highest $121,340 (Victoria Lee, Chief Executive Officer).
- How much revenue does WELCOME TO CHINATOWN INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,487,162, expenses of $1,657,708 and total assets of $3,412,912 at year end.
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