Philadelphia Chinatown Development Corp Chinatown Community Park

Analysis

Philadelphia Chinatown Development Corp Chinatown Community Park is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in June 1975, 51 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 September 2023, Philadelphia Chinatown Development Corp Chinatown Community Park reported income of $2.5m and spending of $2.2m, spending 85% of its income. Across the 6 years on record, from September 2018 to September 2023, income fell from $7.1m to $2.5m (-64%), an average of -19% a year. The sharpest change came in the year to September 2021, when income rose by 220%. Over the whole period it spent 44% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Philadelphia Chinatown Development Corp Chinatown Community Park sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within PA. Charities of a similar size with the same main cause include Communities in Schools Laredo Inc ($2.5m), Small Business Empowerment Center ($2.5m) and Emerge Enterprises Inc ($2.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 67% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $88k (4.1% of expenses). Other salaries and wages came to $719k. At year end it held assets of $24.1m against liabilities of $6.5m, net assets of $17.6m. It reported 38 employees.