Hong Kong Trade Development Council Inc

Nonprofit profile at a glance

EIN
133496835
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2128388688
Rating
38
Verdict
REVIEW
Rating confidence
Moderate

Reported finances

Revenue
$5,549,746
Expenses
$5,532,501
Assets
$1,262,902
Liabilities
$0

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

Leadership & pay

6 people listed

Executive titles in this filing

  • WAI KWAN REGINA LAI HWA (PRESIDENT)

Highest reported compensation

  • WAI KWAN REGINA LAI HWA (PRESIDENT): $752,885 total reported compensation
  • CURTIS LOUIE (OIC - N.Y. O): $131,360 total reported compensation
  • REYMOND PENA (TREASURER): $16,538 total reported compensation

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

Overview

Mission

Promotion of trade between the united states and hong kong

Operating model

Revenue model
Earned-program. 80% of the money available for current operations came from fees and other program revenue.
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.

The verdict

REVIEW - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 15
  • Transparency & Controls: 60
  • Accountability: 63
  • Sustainability: 32
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 16.6%; rating input score 17
  • Program expense ratio: 16.6%; rating input score 17
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 9 controls in place; rating input score 11
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.3%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.23; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 16.3%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: -26.4% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -6.6% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 16.6% of revenue deployed · 16.6% of spending went to programs
  • Governance: 7 of 7 board members independent · 1 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $921K in reported program spending
  • Leadership: top reported pay $753K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 17/100.
  • High — Financial Efficiency: Program expense ratio scored 17/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 7 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.