Our Financials
Welcome to Chinatown Inc. is recognized as a tax-exempt public charity under Section 501(c)(3) of the Internal Revenue Code (Federal Tax ID: 88-1524156).
Although Welcome to Chinatown began in March 2020, our organization initially operated under fiscal sponsorship with the Players Philanthropy Fund (Federal Tax ID: 27-6601178) until 2023. In 2023, Welcome to Chinatown Inc. was incorporated and received its own nonprofit status (Federal Tax ID: 88-1524156). However, our full transition to independent financial operations did not take effect until January 1, 2024.
As a result, our financial statements are categorized as follows:
2020 – 2022: Fully under Players Philanthropy Fund DBA Welcome to Chinatown
2022 – 2023: A blended structure between Players Philanthropy Fund DBA Welcome to Chinatown and Welcome to Chinatown Inc.
2024 onwards: Fully under Welcome to Chinatown Inc.
Financial Statements
Entity: Players Philanthropy Fund DBA Welcome to Chinatown
Entity: Players Philanthropy Fund DBA Welcome to Chinatown
Entity: Players Philanthropy Fund DBA Welcome to Chinatown
Entity: Players Philanthropy Fund DBA Welcome to Chinatown & Welcome to Chinatown Inc.
Entity: Welcome to Chinatown Inc.
Coming Soon
FAQs
Why did Welcome to Chinatown use a fiscal sponsor from 2020 - 2023?
When we launched in 2020, we needed a fiscally responsible and efficient way to accept tax-deductible donations while focusing on our mission. Partnering with Players Philanthropy Fund as our fiscal sponsor allowed us to quickly mobilize support for Chinatown businesses and the community without the administrative burden of operating as an independent nonprofit.
What entity are you operating under currently?
As of January 1, 2024, Welcome to Chinatown operates fully under Welcome to Chinatown Inc., an independent 501(c)(3) nonprofit organization.
What is a fiscal sponsor?
A fiscal sponsor is an established nonprofit that provides administrative and financial oversight to another organization, allowing it to accept tax-deductible donations and grants without having its own 501(c)(3) status. This model is commonly used by early-stage initiatives to focus on their mission while leveraging the infrastructure of a larger nonprofit.
How should I interpret 2023’s financials with two entities?
In 2023, Welcome to Chinatown operated under both our fiscal sponsor (Players Philanthropy Fund) and our newly established Welcome to Chinatown Inc. nonprofit. Financials from this year reflect a blended transition, meaning some grants and donations were processed through our fiscal sponsor, while others were managed independently under our nonprofit. Our 2023 Statement of Activity represents all of our financials and includes a breakdown of revenue and expenses by entity. Starting in 2024, all financials are fully under Welcome to Chinatown Inc.
Why did Welcome to Chinatown incorporate and obtain it’s own non-profit status?
As our impact grew, we recognized the need for greater autonomy to expand our programs, build long-term sustainability, and directly manage our funding. In 2023, Welcome to Chinatown Inc. obtained 501(c)(3) nonprofit status, allowing us to take full ownership of our financial operations and deepen our work supporting small businesses and entrepreneurs.