Chinese New Year Festival Committer
- Assets
- $2.3m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 3
- Location
- San Francisco, CA
- Founding
- 01/1964
- Data as of
- 06/2022
- EIN
- 94-0382730
Organization Overview
Chinese New Year Festival Committer is located in San Francisco, CA. The organization was established in 1964. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Chinese New Year Festival Committer employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chinese New Year Festival Committer is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Chinese New Year Festival Committer generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.7m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Chinese New Year Festival Committer has awarded 28 individual grants totaling $179,364. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE COMMERCIAL AND ECONOMIC INTERESTS OF THE CHINESE COMUNITY IN SAN FRANCISCO, CALIFORNIA. BY ORGANIZING AND/OR SPONSORING EXHIBITS, FAIRS, SOCIAL EVENTS SUCH AS THE MISS CHINATOWN BEAUTY PAGENT, CHINESE NEW YEAR PARADE, STREET FAIR ETC. PURPOSE OF WHICH IS TO PUBLICIZE AND DISSEMINATE TO THE GENERAL PUBLIC ABOUT THE CHINESE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAN FRANCISCO CHINESE NEW YEAR PARADE:HELD APPORXIMATELY TWO WEEKS FOLLOWING THE FIRST DAY OF THE CHINESE LUNAR NEW YEAR. IT IS ONE OF GRANDEST NIGHTTIME ILLUMINATED PARADE IN THE U.S; THE OLDEST AND THE BIGGEST CELEBRATIONS OF ASIAN CULTURE OUTSIDE OF ASIA. STARTED IN THE EARLY 1900'S AS A MEANS TO EDUCATE THE COMMUNITY ABOUT THE CHINESE CULTURE.
MISS CHINATOWN USA PAGEANT & CORONATION BALLTHE MISS CHINATOWN USA PAGEANT,BASED ON CHINESE COMMUNITIES WITHIN THE U.S., GREETS DELEGATES AROUND THE COUNTRY. THE PAGEANT HAS BEEN AN ANNUAL LUNAR NEW YEAR EVENT SINCE EARLY 1950'S.WINNERS OF THE PAGEANT ARE AWARDED SCHOLARSHIPS, REPRESENTS THE CHINESE COMMUNITY AND ACTS AS GOODWILL AMBASSADORS PROMOTING CHINESE CULTURE AND HERITAGE.
CHINESE NEW YEAR STREET FAIR:THE ANNUAL TWO-DAY CHINESE NEW YEAR COMMUNITY STREET FAIR HELD IN CONJUCTION WITH THE ANNUAL NEW YEAR PARADE. THIS COMMUNITY FAIR OFFERS SIGHTS AND SOUNDS OF THE SF EXHILARATING CHINATOWN WITH OVER 120 BOOTHS AND CONCESSIONS, TRADITIONAL AND MODERN ENTERTAINMENT PERFORMANCE SUCH AS CHINESE FOLK DANCE, ACROBATS & LION DANCING ETC.
OTHER PROGRAM SERVICE REVENUE:ADA PROJECT $ 16,500.INTEREST INCOME $ 5,994.RENTAL INCOME $ 27,000.FEDERAL ERTC $ 37,182.MISCELLANEOUS $ 6,827.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harlan Wong 1st Vice President | OfficerTrustee | 0.25 | $45,936 |
Michael Lau Director | Trustee | 0.5 | $13,125 |
Tony Lau Director | Trustee | 1 | $10,500 |
Alex Fong Director | Trustee | 0.13 | $2,000 |
Donald Luu President | OfficerTrustee | 0.25 | $0 |
Grace Yuen 2nd Vice President | OfficerTrustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Steph Mufson Creation Llc Construction | 6/29/22 | $200,400 |
Christina Hoang Commission | 6/29/22 | $137,753 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $16,050 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $200,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $60,860 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $276,910 |
| Total Program Service Revenue | $1,329,401 |
| Investment income | $5,994 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $27,000 |
| 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 | $1,683,314 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $70,750 |
| Grants and other assistance to domestic individuals. | $27,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $71,561 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $118,890 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | -$4,036 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,920 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,146 |
| Office expenses | $4,510 |
| 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 | $19,027 |
| All other expenses | $73,193 |
| Total functional expenses | $1,661,140 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $318,488 |
| Savings and temporary cash investments | $1,782,452 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $54,700 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $31,000 |
| Net Land, buildings, and equipment | $131,757 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,000 |
| Total assets | $2,322,397 |
| Accounts payable and accrued expenses | $6,271 |
| 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 | $0 |
| Other liabilities | $44,370 |
| Total liabilities | $50,641 |
| Net assets without donor restrictions | $0 |
| 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 | $2,271,756 |
| Total liabilities and net assets/fund balances | $2,322,397 |
Grants Awarded
Over the last fiscal year, Chinese New Year Festival Committer has awarded $35,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ROSE PAK COMMUNITY FUND PURPOSE: ADVANCING THE CAUSES THAT ROSE PAK CHAMPIONED; AFFORDABLE HOUSING, PRESERVATION OF CHINATOWN. ACCESS TO QUALITY HEALTH CARE, SUPPORT FOR SMALL BUSINESS AND IMPROVEMENTS OF SCHOOLS. | $25,000 |
CHINATOWN COMMUNITY DEVELOPMENT CENTER PURPOSE: BUILDING COMMUNITY AND ENHANCE THE QUALITY OF LIFE FOR SF RESIDENTS. | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chinese New Year Festival Committer has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Aarp Washington, DC PURPOSE: Sponsorship of Lunar New Year Parade | $30,000 |
Endowment Analysis
| Beg. Balance | $23,447 |
| Net Contributions | $16,500 |
| Other Expense | $14,947 |
| Ending Balance | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cultura Y Arte Nativa De Las Americas San Francisco, CA | $2,055,522 | $13,827,231 |
American Indian Health & Services Corporation Santa Barbara, CA | $10,365,655 | $13,137,792 |
River Of Life Foundation Santa Clara, CA | $1,212,027 | $11,599,827 |
Destination Crenshaw Los Angeles, CA | $35,511,106 | $11,299,025 |
The Epoch Times Media Group Los Angeles El Monte, CA | $739,683 | $7,015,472 |
Priddy Family Foundation Las Vegas, NV | $28,899,625 | $10,430,994 |
Kanu O Ka Aina Learning Ohana Kamuela, HI | $16,258,612 | $5,026,413 |
Napa Valley Festival Association Walnut Creek, CA | $13,659,159 | $11,728,133 |
Apano Communities United Fund Portland, OR | $4,683,636 | $5,442,613 |
Puente De La Costa Sur Pescadero, CA | $6,663,176 | $5,921,974 |
San Francisco Japanese School San Francisco, CA | $7,835,658 | $4,070,640 |
Native Arts And Cultures Foundation Inc Portland, OR | $23,796,396 | $14,906,833 |