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Cgcc Foundation INC FY2021 filing

Tax-deductible

New York, NY501(c)(3)Human ServicesEIN 46-2615445Revenue $533K in FY2021

On file with the IRScgccusa.org/en/cgcc-foundation19 East 48th Street 5th Floor, 10017-1007 · New York, NYTax-exempt since Aug 2014Publicly supported — 509(a)(2)

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The mission of the Foundation is to coordinate various fund raising campaigns and charitable

501(c)(3) charity; gifts are tax-deductible.
34¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $140K a year · 16% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
34%
of spending
Concern: 34% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
34 mo
of spending, in cash
Looks good: 34.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.1M
62% of total assets
Fine: liabilities are 62% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
75
of 44 voting members
Looks good: 75 of 44 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$533K
-14% vs prior year
Spent
$627K
To programs
34%
Net assets
$675K
By yearFY2020–FY2024
Revenue
$533K
FY2021▼ -14%
Tap a bar for its year
Revenue by fiscal year
FY2020$617K
FY2021$533K
FY2022$477K
FY2023$1.9M
FY2024$830K
Expenses
$627K
FY2021▼ -40%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.0M
FY2021$627K
FY2022$646K
FY2023$591K
FY2024$711K
Net assets
$675K
FY2021▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2020$769K
FY2021$675K
FY2022$506K
FY2023$1.8M
FY2024$1.9M

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

34 cents of each dollar spent went to programs.

Program services 34% · $211K Management & general 66% · $415K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

45 people listed on the 990.

Part VII, Section A · reportable compensation
Chen Xu
Chairman
$0Pt VII · Sec A
Ning Yuan
Board Directors
$0Pt VII · Sec A
Yi Zhu
Board Directors
$0Pt VII · Sec A
Wenhua Huang
Board Directors
$0Pt VII · Sec A
Guotu Mao
Board Directors
$0Pt VII · Sec A
Xu Tan
Board Directors
$0Pt VII · Sec A
Pin Ni
Board Directors
$0Pt VII · Sec A
Jianmin Zhu
Board Directors
$0Pt VII · Sec A
See Cgcc Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Coordinates fundraising campaigns and charitable events to promote cross-cultural communication and understanding within both business and cultural contexts.

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Provided by the organization

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2 programs · $211K · in their own filed words · FY2021
01

Conference and annual gala event

$211Kprogram expense
02

Events and panels promoting cross-cultural communication in both business and cultural contexts

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$533K
Ln 12
Gifts and grantsLn 1h$530K
Investment incomeLn 3$3K
Money outPt IX
$627K
Ln 25
Programscol B$211K
Managementcol C$415K
Owns and owesPt X
$675K
net assets · Ln 32
Cash and savingsLn 1–2$1.8M
Total assetsLn 16$1.8M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
45
listed · VII A
PaidVII A0
Voting boardVI 1a44
IndependentVI 1b75
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$530K
Noncash giftsLn 1g$150K
Investment incomeLn 3$3K
Total revenueLn 12$533K
Assets in detailPt X, end of year
CashLn 1$779K
SavingsLn 2$1.0M
Cash and savings togetherLn 1–2$1.8M
Land, buildings, equipmentLn 10c$6K
Total assetsLn 16$1.8M
LiabilitiesLn 26$1.1M
Net assetsLn 32$675K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$1.5M$1.8M
Land, buildings, equipmentLn 10c$8K$6K
Total assetsLn 16$1.5M$1.8M
LiabilitiesLn 26$730K$1.1M
Net assetsLn 32$769K$675K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$285K$89K$196K
Other employee benefitsLn 9$35K$11K$24K
Payroll taxesLn 10$19K$6K$13K
Other fees for servicesLn 11g$228K$78K$150K
Office expensesLn 13$322$322
Depreciation, depletion and amortizationLn 22$2K$2K
Other expenses (24a–d)Ln 24$57K$27K$31K
Total functional expensesLn 25$627K$211K$415K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $830K$711K$119K$1.9M 990 PDF
FY2023 $1.9M$591K$1.3M$1.8M 990 PDF
FY2022 $477K$646K−$169K$506K 990 PDF
FY2021 Viewing $533K$627K−$94K$675K 990 PDF
FY2020 $617K$1.0M−$421K$769K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $533,042 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $594,383$530,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $22,254$3,042
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $616,637$533,042
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $410,510$339,715
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $627,054$287,111
I-18 Total expensesPrior year $1,037,564$626,826
I-19 Revenue less expensesPrior year −$420,927−$93,784
Part VI · Governance 75 of 44 board members independent, 1 to look at
VI-1a Voting members of the governing body44
VI-1b Independent voting members75
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $533,042 across 5 lines filed
VIII-1f All other contributions, gifts and grants$530,000
VIII-1g Noncash contributions (included above)$150,000
VIII-1h Total contributions, gifts and grants$530,000
VIII-3 Investment incomeUnrelated business $3,042$3,042
VIII-12 Total revenueRelated to mission $0 · Unrelated business $3,042 · Excluded from tax $0$533,042
Part IX · Statement of functional expenses $626,826 across 7 lines filed
IX-7 Other salaries and wagesPrograms $89,409 · Management $195,838$285,247
IX-9 Other employee benefitsPrograms $10,979 · Management $24,063$35,042
IX-10 Payroll taxesPrograms $6,086 · Management $13,340$19,426
IX-11g Other fees for servicesPrograms $78,086 · Management $150,000$228,086
IX-13 Office expensesPrograms $322$322
IX-22 Depreciation, depletion and amortizationManagement $1,531$1,531
IX-24 Other expenses (24a–d)Programs $26,566 · Management $30,606$57,172
IX-25 Total functional expensesPrograms $211,448 · Management $415,378 · Fundraising $0$626,826
Part X · Balance sheet $1,788,524 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $741,736$779,075
X-2 Savings and temporary cash investmentsStart of year $750,000$1,003,042
X-10c Land, buildings and equipment, netStart of year $7,938$6,407
X-16 Total assetsStart of year $1,499,674$1,788,524
X-17 Accounts payable and accrued expensesStart of year $730,303$1,113,078
X-25 Other liabilitiesStart of year $141$0
X-26 Total liabilitiesStart of year $730,444$1,113,078
X-27 Net assets without donor restrictionsStart of year $709,230$650,446
X-28 Net assets with donor restrictionsStart of year $60,000$25,000
X-32 Total net assets or fund balancesStart of year $769,230$675,446
X-33 Total liabilities and net assetsStart of year $1,499,674$1,788,524
Part XI · Reconciliation of net assets $675,446 net assets at year end
XI-1 Total revenue$533,042
XI-2 Total expenses$626,826
XI-3 Revenue less expenses−$93,784
XI-4 Net assets at start of year$769,230
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$675,446

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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