New Legacy Cultural Center Inc
- Assets
- $28.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, MA
- Founding
- 02/2019
- Data as of
- 06/2023
- EIN
- 83-0930022
Organization Overview
New Legacy Cultural Center Inc is located in Lexington, MA. The organization was established in 2019. 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. New Legacy Cultural Center 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 06/2023, New Legacy Cultural Center Inc generated $40.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $21.8k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (20.4%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ting Fang President | 20 | $0 | |
Jing Wang Treasurer | 10 | $0 | |
Omar Khudari Vice President | 10 | $0 | |
Lei Zhu Clerk | 10 | $0 | |
Hong Zhang Officer | 10 | $0 | |
Elizabeth Xu Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,980 |
| Total Program Service Revenue | $2,199 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $40,179 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $772 |
| Professional fees and other payments to independent contractors | $7,008 |
| Occupancy, rent, utilities, and maintenance | $450 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $10,618 |
| Total expenses | $21,848 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $26,418 |
| Other assets | $0 |
| Total assets | $28,600 |
| Total liabilities | $230 |
| Net assets or fund balances | $28,370 |