Purple Swans Corporation

Nonprofit profile at a glance

EIN
472167871
IRS 990-EZ coverage
2016–2024
Forms available
Form 990-EZ 2024, Form 990-N 2021
Location
Morristown, NJ, USA
Rating
42
Verdict
MIXED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$54,317
Expenses
$41,728
Assets
$136,899
Liabilities
$18,337

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Lu Chu (President, Board of Directors)

People named in this filing

  • Lu Chu (President, Board of Directors)
  • Jie Wu (Chair, Board of Directors)
  • Lei Chen (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The Purple Swans Corporation's mission is to enrich the community by connecting the East and the West and promoting cultural exchange through intercultural performing arts. It's objective is to create a positive impact in people's lives and promote Chinese performing arts within the community.

What it reported doing in 2024

Since 2018, Purple Swans and the Mental Health Association in New Jersey (MHANJ) have jointly hosted a series of Youth Mental Health First Aid programs. Through a full-day certified training course, experienced instructors provided hands-on guidance on how to support stressed youth. The program continues to be highly rated by 100% of participants. Beginning in 2022, QPR (Question, Persuade, Refer) youth suicide prevention trainings were added to offer more targeted support. Continuing this important tradition, we hosted two additional mental health training sessions in September and December 2024, marking our 6th and 7th Youth Mental Health First Aid programs. On December 13, 2024, NASDAQ honored Purple Swans on its iconic Times Square billboards, celebrating our 10 years of dedication to cultural exchange and mental health advocacy. Our tradition of performing for senior centers also resumed. On June 8, 2024, we visited Summit Senior Center to celebrate Mother's Day and Father's Day, where our performance was warmly received. In 2024, we performed across multiple towns for Lunar New Year celebrations, including Millburn, Summit, Livingston, and Westfield. We also performed on May 2, 2024 at the Pingry Asian Heritage Celebration and on September 15, 2024 at the Millburn Moon Festival Gala. We also began preparations for our once-every-three-year charity gala, scheduled for 2025.

Operating model

Revenue model
Membership-supported. 71% of the money available for current operations came from membership dues.
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

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. 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: 9
  • Transparency & Controls: 82
  • Sustainability: 67
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 7.7%; rating input score 8
  • Program expense ratio: 10%; rating input score 10

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 23.2%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 3.28; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -8.6% per year; rating input score 0; 29th percentile among comparable filings
  • Revenue growth: -1.3% per year; rating input score 0; 46th percentile among comparable filings
  • Asset growth: 17.9% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 7.7% of revenue deployed · 10% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $4K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 8/100.
  • High — Financial Efficiency: Program expense ratio scored 10/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.