Tung On Association Inc
- Assets
- $374.3k
- Revenue
- $137.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 12/2002
- Data as of
- 12/2022
- EIN
- 23-3060453
Organization Overview
Tung On Association Inc is located in Philadelphia, PA. The organization was established in 2002. 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. Tung On Association 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 12/2022, Tung On Association Inc generated $137.8k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.1% each year . All expenses for the organization totaled $120.0k during the year ending 12/2022. While expenses have increased by 20.8% per year over the past 4 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE THE USE OF GRAVE TO DECESASED MEMBERS AT COST.
THE ORANIZATION PRIMARY EXEMPT PURPOSE IS TO PROMOTE CHINESE OWNED, AND OPERATED BUSINESS AND TO ASSIST THE CHINESE COMMUNITY TO CHINESE CULTURE AND ASSIST NEW IMMIGRANTS TO UNDERSTAND THE AMERICAN CULTURE AND SOCIAL ENVIROMENT IN PENNSYLVANIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Helen Lo President | 20 | $0 | |
Yiu Leung Lam Vice-President | 20 | $0 | |
Kwai S Wong Treasurer | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3 |
| Dividends & Interest | $0 |
| Net Rental Income | $58,367 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $137,832 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $8,552 |
| Taxes | $27,906 |
| Depreciation | $29,694 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $2,875 |
| Printing and publications | $0 |
| Other expenses | $49,167 |
| Total operating and administrative expenses | $119,974 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $119,974 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $101,306 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $272,478 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $500 |
| Total assets | $374,284 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $179,313 |
| Other liabilities | $0 |
| Total liabilities | $179,313 |