Belmont Chinese American Association

Analysis

Belmont Chinese American Association is a registered charity in United States, based in Belmont, MA. It received its IRS tax-exemption ruling in August 2016, 10 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 December 2023, Belmont Chinese American Association reported income of $59k and spending of $60k, spending 103% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $48k to $59k (+21%), an average of +21% a year. The sharpest change came in the year to December 2023, when income rose by 21%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Belmont Chinese American Association sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 32nd percentile within MA. Charities of a similar size with the same main cause include Echoppe Inc ($58k), Wilton Kiwanis Foundation Inc ($59k) and Wallace Christmas Fund ($58k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $46k against liabilities of $0, net assets of $46k.