Italian Aid Society Inc
- Assets
- $275.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Rutland, VT
- Founding
- 06/1994
- Data as of
- 12/2021
- EIN
- 03-0213653
Organization Overview
Italian Aid Society Inc is located in Rutland, VT. The organization was established in 1994. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Italian Aid Society Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Italian Aid Society Inc generated $72.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $81.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.6%) 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
2021
Describe the Organization's Program Activity:
Part 3
SOCIAL CLUB/FRATERNAL ORGANIZATION PROVIDING SCHOLARSHIPS TO STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hugh B Spafford Director | 4 | $0 | |
Richard D Walker Treasurer | 8 | $0 | |
Charles Popovitch Secretary | 1 | $0 | |
Chuck Mcgann President | 4 | $0 | |
Dermot Hughes Vice President | 1 | $0 | |
Roy Lewis Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $4,500 |
| Investment income | $1,058 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $357 |
| Other Revenue | $0 |
| Total Revenue | $72,646 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $36,509 |
| Professional fees and other payments to independent contractors | $1,000 |
| Occupancy, rent, utilities, and maintenance | $25,285 |
| Printing, publications, postage, and shipping | $146 |
| Other expenses | $17,206 |
| Total expenses | $81,146 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $35,229 |
| Other assets | $0 |
| Total assets | $275,403 |
| Total liabilities | $2,902 |
| Net assets or fund balances | $272,501 |
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