Create in Chinatown Inc

Analysis

Create in Chinatown Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 2004, 22 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Create in Chinatown Inc reported income of $1.8m and spending of $470k, leaving 74% of income unspent that year. Across the 3 years on record, from June 2021 to June 2023, income grew from $342k to $1.8m (+437%), an average of +132% a year. The sharpest change came in the year to June 2023, when income rose by 317%. Over the whole period it spent 31% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Create in Chinatown Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Connecticut Childrens Museum ($1.8m), Americas Foundation of the Serpentine Galleries ($1.8m) and Ocean Discovery League Inc ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $74k (16% of expenses). Other salaries and wages came to $56k. At year end it held assets of $2.1m against liabilities of $255k, net assets of $1.9m. It reported 2 employees.