Italian-American War Vets Of The Us Inc
- Assets
- $239.8k
- Revenue
- $137.0k
- Investments
- $0.0
- Employees
- 9
- Location
- Beverly, MA
- Founding
- 01/1967
- Data as of
- 12/2022
- EIN
- 04-6151661
Organization Overview
Italian-American War Vets Of The Us Inc is located in Beverly, MA. The organization was established in 1967. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Italian-American War Vets Of The Us Inc employed 9 individuals. Italian-American War Vets Of The Us Inc is a 501(c)(19) and as such, is described as a "Post or Organization of Past or Present Members of the Armed Forces" by the IRS.
For the year ending 12/2022, Italian-American War Vets Of The Us Inc generated $137.0k 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 (9.4%) each year. All expenses for the organization totaled $159.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (8.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
VETERANS SOCIAL CLUB AND VETERANS AID
Describe the Organization's Program Activity:
Part 3 - Line 4a
AID & SUPPORT PROVIDED TO WAR VETERANS
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Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,875 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,875 |
| Total Program Service Revenue | $0 |
| Investment income | $19 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $59,151 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $10,533 |
| Net Income from Gaming Activities | $7,911 |
| Net Income from Sales of Inventory | $54,831 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $137,044 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $370 |
| 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 | $29,025 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,923 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,065 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $500 |
| Office expenses | $1,927 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,220 |
| Interest | $2,528 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,882 |
| Insurance | $24,317 |
| All other expenses | $73,276 |
| Total functional expenses | $159,578 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,608 |
| Savings and temporary cash investments | $10,912 |
| 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 | $72,414 |
| Inventories for sale or use | $32,272 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $56,546 |
| Other assets | $0 |
| Total assets | $239,752 |
| Accounts payable and accrued expenses | $2,282 |
| 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 | $32,322 |
| Secured mortgages and notes payable | $191,474 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $226,078 |
| 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 | $13,674 |
| Total liabilities and net assets/fund balances | $239,752 |
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|---|---|---|
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