Philadelphia Chinatown Development Corp Chinatown Community Park
- Assets
- $24.1m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 38
- Location
- Philadelphia, PA
- Founding
- 06/1975
- Data as of
- 09/2023
- EIN
- 23-7439723
Organization Overview
Philadelphia Chinatown Development Corp Chinatown Community Park is located in Philadelphia, PA. The organization was established in 1975. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Philadelphia Chinatown Development Corp Chinatown Community Park employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philadelphia Chinatown Development Corp Chinatown Community Park 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 09/2023, Philadelphia Chinatown Development Corp Chinatown Community Park generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $2.2m during the year ending 09/2023. While expenses have increased by 14.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PCDC PROVIDES BILINGUAL, CULTURALLY SENSITIVE ASSISTANCE AND SERVICES TO CLIENTS IN PHILADELPHIA'S CHINATOWN NEIGHBORHOOD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING DEVELOPMENT - PCDC HAS DEVELOPED OVER 500 UNITS OF MIXED-USE AND MIXED-INCOME HOUSING, ELIMINATES BLIGHT, PARTICULARLY IN CHINATOWN NORTH, AND BRINGS EQUITABLE DEVELOPMENT IN A TRANSITIONING NEIGHBORHOOD. IN 2019, PCDC COMPLETED THE MIXED USE (RESIDENTIAL, OFFICE, RETAIL, EDUCATION, RECREATION AND CULTURE) CRANE COMMUNITY CENTER AND RESIDENCE. IN 2020, PCDC OPENED NORTH FAMILY HOMES, WHICH IS A 13-UNIT APARTMENT, WITH SUPPORT FROM PHILADELPHIA HOUSING AUTHORITY AND FEDERAL HOME LOAN BANK OF PITTSBURGH. IN 2021, PCDC DEVELOPED 8 UNITS OF AFFORDABLE HOUSING ON BLIGHTED LAND AT 624 AND 632 N 12TH STREETS. IN 2022, PCDC WILL DEVELOP 8 UNITS OF AFFORDABLE HOUSING ON BLIGHTED LAND AT 610, 636, AND 649 N 11TH STREETS.
MAIN STREET PROGRAM - $105,255YOUTH PROGRAMS - $32,337PLANNING & ADVOCACY - $62,553
CRANE CENTER - THE MISSION OF THE CRANE CENTER IS TO SERVE AS THE COMMUNITY CENTER FOR CHINATOWN AND THE CHINESE CULTURAL CENTER FOR GREATER PHILADELPHIA. THE CENTER IS A MULTI-USE COMMUNITY CENTER, WHICH OFFERS HIGH-QUALITY RECREATION CENTER FOR COMMUNITY SPORTS, EDUCATION SERVICES, AND SOCIAL AND CULTURAL EVENTS. THE CENTER OFFERS CLASSES, EVENTS AND PROGRAMS, A STATE-OF-THE-ART GYMNASIUM FOR BASKETBALL, VOLLEYBALL, BADMINTON AND PING PONG. THE CENTER HOSTS YOUTH, HOUSING AND FAMILY SERVICE PROGRAMS. IT OFFERS HOUSING COUNSELING AND FINANCIAL COUNSELING PROGRAMS TARGETING LOW-INCOME FAMILIES AND SENIORS. IT OFFERS A DEVELOPMENT TRACK FOR HIGH SCHOOL YOUTH TO PURSUE POST SECONDARY EDUCATION.
HOUSING AND FAMILY SERVICES - PCDC'S HOUSING AND FAMILY SERVICES PROGRAMS PROVIDES DIRECT AND REFERRAL SERVICES, INFORMATION, TRANSLATION, COUNSELING AND UNEMPLOYMENT ASSISTANCE. PCDC STRIVES TO CLOSE THE GAP BETWEEN COMMUNITY NEED AND AWARENESS OF PUBLIC SERVICES AND BENEFITS THROUGH OUR DIRECT SERVICE AND REFERRAL PROGRAMS. PCDC'S STAFF IS TRAINED TO DELIVER SOCIAL SERVICES. PCDC ALSO OFFERS AN ANNUAL VOLUNTEER INCOME TAX ASSISTANCE (VITA) PROGRAM THAT HELPS FAMILIES TO OBTAIN THEIR REFUNDS AND TAX CREDITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Martin Chan Board Chair | OfficerTrustee | 2 | $0 |
Ms Margaret Chin Vice Chair | OfficerTrustee | 2 | $0 |
Mr Philip Wan Treasurer | OfficerTrustee | 2 | $0 |
Ms Shirley Moy Recording Secretary | OfficerTrustee | 2 | $0 |
Ms Katherine Ngee Secretary | OfficerTrustee | 2 | $0 |
Ms Lorraine Lew Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Asian Bank Loan | 9/29/23 | $215,880 |
Eastern Tower Qalicb Llc- (Landlord) Landlord | 9/29/23 | $272,929 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $312,664 |
| Related organizations | $0 |
| Government grants | $970,679 |
| All other contributions, gifts, grants, and similar amounts not included above | $411,808 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,695,151 |
| Total Program Service Revenue | $859,888 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$33,948 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,537,285 |
| 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. | $87,633 |
| Compensation of current officers, directors, key employees. | $13,145 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $718,885 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $53,043 |
| Payroll taxes | $67,925 |
| 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 | $69,317 |
| Advertising and promotion | $700 |
| Office expenses | $35,029 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $503,320 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $171,035 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $40,158 |
| All other expenses | $5,500 |
| Total functional expenses | $2,153,879 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $442,731 |
| Savings and temporary cash investments | $6,362,555 |
| Pledges and grants receivable | $498,455 |
| Accounts receivable, net | $309,692 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $100,135 |
| Net Land, buildings, and equipment | $2,490,521 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $13,891,061 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $24,095,150 |
| Accounts payable and accrued expenses | $611,198 |
| Grants payable | $0 |
| Deferred revenue | $963,995 |
| 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 | $4,653,932 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $285,740 |
| Total liabilities | $6,514,865 |
| Net assets without donor restrictions | $15,544,357 |
| Net assets with donor restrictions | $2,035,928 |
| 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 | $24,095,150 |