Overview
What is Walker Street-Chung Pak Local Development Corporation?
The Walker Street-Chung Pak Local Development Corporation is a nonprofit organization situated in New York City, specifically at 96 Baxter Street 13th Floor, New York, NY 10012. Its primary mission is to enhance the quality of life for residents within Manhattan Community Boards No. 1, 2, and 3. To achieve this, the corporation operates a substantial health clinic and a childcare center, providing essential services to the local community. Additionally, the building houses retail stores that cater to the needs of working families in the area, significantly improving their living standards. With a team of only two employees, this nonprofit organization is dedicated to making a positive impact on the lives of its community members.
Official website here: www.chungpakldc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84%, Three-Star out of Four Star rating
Walker Street-Chung Pak Local Development Corporation has received a score of 84%, indicating a solid level of accountability and financial management. This score is based entirely on their performance in the Accountability & Finance category, which reflects their commitment to transparency and responsible stewardship of resources.
The organization excels in several areas, including having a fully independent board and strong oversight of financial practices. They have a well-documented conflict of interest policy, whistleblower policy, and maintain comprehensive records of board meeting minutes. Additionally, their financial ratios suggest a healthy balance between liabilities and assets, demonstrating prudent financial management.
However, the organization did face some limitations, particularly in the Program Expense Ratio, where they scored lower compared to other metrics. This indicates that a smaller proportion of their expenses go directly to programs, which could raise questions about resource allocation. Overall, while the Walker Street-Chung Pak Local Development Corporation shows strong governance and financial practices, there is room for improvement in program-related expenditures.
This AI summary has been generated from information found on Charity Navigator.
Is Walker Street-Chung Pak Local Development Corporation legitimate?
Walker Street-Chung Pak Local Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Walker Street-Chung Pak Local Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $107,994
Professional Fundraising Fees: $0
Other Salaries and Wages: $76,891
For more financial information, click here
Official website here: www.chungpakldc.org
What is the mission statement of Walker Street-Chung Pak Local Development Corporation?
The Walker Street-Chung Pak Local Development Corporation is committed to enhancing the lives of individuals residing in certain community boards. Its mission is to achieve this by establishing, managing, and maintaining commercial and recreational facilities. One of its significant contributions is the operation of a substantial healthcare clinic and a childcare center, catering to the needs of the local community. The corporation also houses retail stores offering essential services, significantly improving the quality of life for the working families in the area.
Official website here: www.chungpakldc.org
Who is the CEO of Walker Street-Chung Pak Local Development Corporation?
Sherman Eng is the Acting Chairman & President of Walker Street-Chung Pak Local Development Corporation.
Official website here: www.chungpakldc.org
What is the revenue of Walker Street-Chung Pak Local Development Corporation?
Walker Street-Chung Pak Local Development Corporation's revenue in 2022 was $2,154,904.
Official website here: www.chungpakldc.org
Who are the executives of Walker Street-Chung Pak Local Development Corporation and what are their salaries?
The average compensation at Walker Street-Chung Pak Local Development Corporation during 2022 was $92,442. There are 2 employees and 7 volunteers at Walker Street-Chung Pak Local Development Corporation.
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $111,750
- Related: $0
- Other: $0
Official website here: www.chungpakldc.org
Where can I find the form 990 for Walker Street-Chung Pak Local Development Corporation?
Walker Street-Chung Pak Local Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.chungpakldc.org
Learn more at the official website: www.chungpakldc.org
Mission Statement of Walker Street-Chung Pak Local Development Corporation
Walker Street-Chung Pak Local Development Corporation, a nonprofit organization, is dedicated to enhancing the living standards of individuals residing in Community Boards 1, 2, and 3. Their mission is to achieve this by establishing, managing, and maintaining both commercial and recreational facilities within these communities. One of their significant initiatives includes operating a comprehensive health clinic and a childcare center, catering to the essential needs of the residents in the area.
Furthermore, this corporation serves as a commercial center, housing community-centric retail stores. These stores offer essential services to working families living in the area, significantly improving their quality of life. The retail outlets within the building provide a range of vital commodities, contributing to the overall well-being of the local community. In summary, Walker Street-Chung Pak Local Development Corporation strives to improve the living conditions of its residents by constructing and managing facilities that cater to their essential needs, such as healthcare and childcare, while also offering convenient retail services.
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Impact
August, 2024
Walker Street-Chung Pak Local Development Corporation's impact is significant in improving the quality of life for the residents of Community Boards No. 1, 2, and 3 in Manhattan. By providing much-needed space for community facilities, including a comprehensive health clinic and a childcare center, the corporation directly contributes to the well-being of individuals in the area. Additionally, the commercial center hosts community-centric retail stores that offer essential services to working families, further enhancing their quality of life. Through its ongoing efforts, the organization plays a crucial role in enhancing the overall welfare and vitality of the community it serves.
This information is meant to be a general summary of Walker Street-Chung Pak Local Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $3,138
- Program Service Revenue: $1,938,917
- Gross Receipts: $2,154,904
Assets and Liabilities:
- Total Assets: $10,578,473
- Total Liabilities: $4,859,316
- Net Assets: $5,719,157
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$1,938,917
Organization Details
Founding Year
1985
Phone
(212) 625-8833Principal Officer
Sherman Eng
Main Address
96 BAXTER STREET 13TH FLOOR, NEW YORK, NY, 10012
Website
www.chungpakldc.orgNTEE Category
Code: L20 - Housing
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