The Li-Ming Chinese Academy
- Assets
- $226.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 60
- Location
- Gaithersburg, MD
- Founding
- 09/1995
- Data as of
- 06/2022
- EIN
- 52-1920292
Organization Overview
The Li-Ming Chinese Academy is located in Gaithersburg, MD. The organization was established in 1995. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Li-Ming Chinese Academy employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Li-Ming Chinese Academy 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 06/2022, Li-Ming Chinese Academy generated $161.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $125.5k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
THE SCHOOL OFFER CHINESE LANGUAGE CLASSES TO CHILDREN FROM AGE 3 TO 18 YEARS. THIS IS THE PRIMARY FUNCTION OF THE ORGANIZATION, OTHER NONCLASSROOM ACTIVITIES ARE CARRIED OUT FOR THE PURPOSES OF FACILITATING THE TEACHING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Kuan Member | 2 | $0 | |
Janey Hsiao Member | 2 | $0 | |
James Wang Member | 2 | $0 | |
Ted Hsieh Member | 2 | $0 | |
Sandra Jeng Member | 2 | $0 | |
Michael MA Chairman | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,618 |
| Total Program Service Revenue | $132,757 |
| Membership dues | $0 |
| Investment income | $40 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | -$69 |
| Other Revenue | $23,205 |
| Total Revenue | $161,551 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $77,330 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $33,878 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $14,331 |
| Total expenses | $125,539 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $223,582 |
| Other assets | $0 |
| Total assets | $226,753 |
| Total liabilities | $3,655 |
| Net assets or fund balances | $223,098 |