Welcome To Chinatown Inc

Overview

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Donor-supported. 70% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 97% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
881524156
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-N 2022
Location
New York, NY, USA
Phone
6464102391
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$1,487,162
Expenses
$1,657,708
Assets
$3,412,912
Liabilities
$3,216,490

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.2%; rating input score 83
  • Program expense ratio: 74.6%; rating input score 75
  • Fundraising efficiency: $12.09 raised per $1 spent on fundraising; rating input score 44; 44th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -11.5%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 2.06; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 8%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 119.7% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 65.1% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 39.4% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 83.2% of revenue deployed · 74.6% of spending went to programs
  • Governance: 6 of 6 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $132K · 7 people listed
  • Highest-paid contractors: 1 contractor listed · $544K reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 2 annual filings from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 44/100.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.

Leadership & pay

7 people listed

Highest reported compensation

  • Victoria Lee (Chief Executive Officer): $132,362 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024.