Chinese Economic Development Council Inc
- Assets
- $4.6m
- Revenue
- $211.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- 06/1977
- Data as of
- 12/2021
- EIN
- 04-2565019
Organization Overview
Chinese Economic Development Council Inc is located in Boston, MA. The organization was established in 1977. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chinese Economic Development Council Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Chinese Economic Development Council Inc generated $211.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.2% each year . All expenses for the organization totaled $15.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, ASSIST, AND COORDINATE THE ECONOMIC PHYSICAL AND SOCIAL DEVELOPMENT OF CHINESE COMMUNITIES, PRIMARILY IN BOSTON, MASS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENHANCE AND IMPROVE THE WELL BEING OF THE ASIAN COMMUNITY IN THE AREAS OF LOW-INCOME HOUSING, EDUCATION, JOB TRAINING AND BUSINESS DEVELOPMENT IN BOSTON AREA.
TO PROVIDE LOW-INCOME HOUSING AT OXFORD PLACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Chiang Chairman | OfficerTrustee | 3 | $0 |
Allen Chin Vice Chairma | OfficerTrustee | 3 | $0 |
Marianna S Riemer Treasurer | OfficerTrustee | 3 | $0 |
Robert Wang Clerk | OfficerTrustee | 3 | $0 |
Margaret Chen Executive | Trustee | 1 | $0 |
Rosemary Lam Executive | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,000 |
| Total Program Service Revenue | $192,994 |
| Investment income | $9,303 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $211,297 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,378 |
| All other expenses | $0 |
| Total functional expenses | $15,470 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,396 |
| Savings and temporary cash investments | $2,244,230 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,258,326 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,632,952 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $26,013 |
| Other liabilities | $145,843 |
| Total liabilities | $171,856 |
| Net assets without donor restrictions | $4,461,096 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,632,952 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chinese Economic Development Council Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Massachusetts Foundation For Humanities & Public Policy Inc Northampton, MA PURPOSE: HUMANITIES PROJECT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mid-Island Y Jewish Community Center Inc Plainview, NY | $9,808,281 | $10,961,733 |
Rian Immigrant Center Inc Boston, MA | $3,539,791 | $6,977,812 |
Chinese Christian Herald Crusades Inc Flushing, NY | $34,224,401 | $8,882,723 |
Korean Community Services Of Metropolitan New York Inc Bayside, NY | $13,398,422 | $7,508,888 |
Haitian Americans United For Progress Hollis, NY | $605,051 | $5,406,105 |
Connecticut Institute For Refugees And Immigrants Inc Bridgeport, CT | $3,814,184 | $6,185,902 |
Journeys End Refugee Services Buffalo, NY | $3,890,672 | $5,653,427 |
Accompany Capital Inc New York, NY | $17,866,704 | $6,735,687 |
International Institute Of Buffalo Inc Buffalo, NY | $4,219,945 | $4,277,400 |
Neighbors Link Corp Mount Kisco, NY | $10,046,885 | $8,877,211 |
Type Media Center Inc New York, NY | $7,555,891 | $4,342,257 |
Genesis Center Providence, RI | $4,976,047 | $4,320,628 |