Boston Chinatown Neighborhood Center Inc

Nonprofit profile at a glance

EIN
237209691
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Phone
6176355129
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Child Day Care

Official website

Reported finances

Revenue
$10,713,808
Expenses
$9,905,247
Assets
$17,303,015
Liabilities
$1,825,872

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

Leadership & pay

17 people listed

Executive titles in this filing

  • BENJAMIN HIRES (PRESIDENT & CHIEF EXECUTIV)

Highest reported compensation

  • BENJAMIN HIRES (PRESIDENT & CHIEF EXECUTIV): $193,834 total reported compensation
  • DAVID JACOBS (TREASURER & CHIEF FINANCIA): $151,493 total reported compensation
  • JOANN YUNG (CHIEF DEVELOPMENT OFFICER): $143,351 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide services that help the children, youth and families they serve to attain greater economic stability and social well-being. Bcnc serves the greater boston area at a primary services site in boston's chinatown, and a satellite service site in the neighboring city of quincy.

What it reported doing in 2024

The child care program includes the acorn center for early education and care, the red oak after school program and the family child care program.the acorn center for early education and care provides bilingual cantonese/english full day child care for toddlers and preschoolers. Acorn program hours are year-round, monday through friday from 7:30 a.m. To 5:30 p.m. And the program is accredited by the national association for the education of young children (naeyc) and licensed by the state's department of early education and care (eec). Acorn offers children a safe and nurturing environment and an educational curriculum that is inclusive of the heritage of all children.the red oak after school program, licensed by eec, provides year-round after school care, education and enrichment services for school age children, and expands to full-day programming during school vacations and the summer months, red oak has a multicultural and arts focus and provides homework instruction, recreational and enrichment activities, and acculturation support for children of all backgrounds.family child care recruits, trains, and licenses chinese speaking asian americans interested in opening family child care businesses, and provides ongoing professional support to those who are already licensed. The program runs the first and only state funded chinese family child care system in Massachusetts and provides over 40 subsidized child care slots for low-income families.

Operating model

Revenue model
Grant-funded. 65% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.6%; rating input score 76
  • Program expense ratio: 80.3%; rating input score 80
  • Fundraising efficiency: $15.9 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7.5%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 1.75; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 6.3%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 7.6% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 7.9% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 75.6% of revenue deployed · 80.3% of spending went to programs
  • Governance: 13 of 13 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $8M in reported program spending
  • Leadership: top reported pay $194K · 17 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $134K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Financial Efficiency: Fundraising efficiency scored 51/100.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.