Serica Initiative Inc
- Assets
- $253.8k
- Revenue
- $249.3k
- Investments
- $0.0
- Employees
- 1
- Location
- New York, NY
- Founding
- 11/2018
- Data as of
- 03/2023
- EIN
- 82-5076065
Organization Overview
Serica Initiative Inc is located in New York, NY. The organization was established in 2018. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Serica Initiative 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 03/2023, Serica Initiative Inc generated $249.3k in total revenue. All expenses for the organization totaled $180.5k during the year ending 03/2023.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SERICA INITIATIVE INC. IS ORGANIZED AND OPERATED FOR THE SPECIFIC PURPOSE OF PROMOTING MUTUAL UNDERSTANDING BETWEEN CHINA, THE UNITED STATES OF AMERICA, AND THE REST OF THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SERICA INTIATIVE INC. IS A NEW YORK-BASED NONPROFIT ORGANIZATION THAT GALVANIZES A GLOBAL COMMUNITY OF CHANGEMAKERS TO ADVOCATE FOR GREATER ASIAN AMERICAN INCLUSION AND ADVANCE POSITIVE SOCIAL IMPACT IN U.S.-CHINA RELATIONS, THROUGH DIALOGUE, STORYTELLING, AND OUR CONVENING POWER". ON MARCH 16, 2023, SERICA HELD THE SERICA SUPPER CELEBRATION IN COLLABORATION WITH THE CHINA INSTITUTE IN NEW YORK CITY. IT IS A GATHERING TO SUPPORT SERICA'S ONGOING MISSION: TO GALVANIZE A GLOBAL COMMUNITY OF CHANGEMAKERS TO ADVANCE POSITIVE SOCIAL IMPACT BETWEEN THE US AND CHINA AND THE REST OF THE WORLD THROUGH DIALOGUE, STORYTELLING AND OUR COVENING POWER.
SERICA INITIATIVE, INC. HELPED PRODUCE THE PBS/WNET TELEVISION SERIES: BE/LONGING ASIAN AMERICANS NOW. THE PROGRAM IS A MULTI-PLATFORM REPORTING INITIATIVE INVESTIGATING THE ROOTS AND RISE OF HATE AMONG THE ASIAN AMERICAN COMMUNITY ESPECIALLY DURING THE COVID-19 PANDEMIC THROUGH FIVE INDIVIDUAL STORIES. THE SERIES PREMIERED DURING ASIAN AMERICAN AND PACIFIC ISLANDER HERITAGE MONTH.
SERICA INITIATIVE, INC. AND THE CHINA INSTITUTE TEAMED UP TOGETHER TO LAUNCH THE US-CHINA NEXT GEN LEADERS CIRCLE (NGLC). IT IS THE ONLY BICULTURAL AND ACTION-BASED PLATFORM TO CONNECT YOUNG AMERICA AND CHINESE LEADERS WHO SHARE A COMMON PASSION FOR PHILANTHROPY WITH SOCIAL INNOVATORS. THE CURRENT FOCUS OF THE NGLC IS CLIMATE CHANGE, AS A COOPERATION ON ENVIRONMENTAL-RELATED ISSUES. THERE WAS A CONTEST (AMONGST THE 28 APPLICANTS) TO PROMOTE THE CLIMATE AND ENVIRONMENT OF CHINA. THE FIRST PLACE WINNER: CHINA OUTDOORS COLLECTIVE. IT WAS THE FIRST USER-BASED ENGLISH PLATFORM DEDICATED TO SHOWCASING CHINESE WILDERNESS AND ENVIRONMENT TO INCREASE INTERNATIONAL RESOURCES PROTECTING CHINA'S LAST AND MOST PRECIOUS WILD SOURCES. THE RUNNER UP: CHENGDU URBAND RIVERS ASSOCIATION. IT IS AN NGO DEDICATED TO PROMOTING THE NATURAL, RECREATIONAL, AND CULTURAL VALUES OF RIVERS, PARTICULARLY THE UPPER REACHES OF THE YANGTZE RIVER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anla Cheng Founder/chief Executive Of | OfficerTrustee | 1 | $0 |
Kaiser Kuo Board Member | OfficerTrustee | 1 | $0 |
Jeremy Goldkorn Board Member | Trustee | 1 | $0 |
Josephine Lau Executive Director | Trustee | 40 | $66,971 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $197,285 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $197,285 |
| Total Program Service Revenue | $52,037 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $249,322 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $38,846 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,972 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,200 |
| Fees for services: Accounting | $2,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $128,508 |
| Advertising and promotion | $0 |
| Office expenses | $261 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $516 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,828 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $198 |
| All other expenses | $0 |
| Total functional expenses | $180,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $221,385 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $32,430 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $253,815 |
| Accounts payable and accrued expenses | $0 |
| 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 | $108,980 |
| Total liabilities | $108,980 |
| 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 | $144,835 |
| Total liabilities and net assets/fund balances | $253,815 |