Italian Charities Inc
- Assets
- $1.4m
- Revenue
- $403.6k
- Investments
- $1.4m
- Employees
- 1
- Location
- Rochester, NY
- Founding
- 07/1988
- Data as of
- 12/2021
- EIN
- 16-1318224
Organization Overview
Italian Charities Inc is located in Rochester, NY. The organization was established in 1988. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Italian Charities 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 12/2021, Italian Charities Inc generated $403.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $196.4k during the year ending 12/2021. While expenses have increased by 8.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Italian Charities Inc has awarded 37 individual grants totaling $598,100. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE MONEY THROUGH EVENTS IN ORDER TO DONATE TO VARIOUS OTHER CHARITABLE ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO COORDINATE AND SPONSOR SPECIAL ACTIVITIES WHICH RAISE MONEY THAT IS DONATED TO OTHER CHARITABLE ORGANIZATIONS. IN 2021, 6 ORGANIZATIONS RECEIVED MONEY FROM ITALIAN HERITAGE FOUNDATION OF ROCHESTER.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Hon Alesi President | OfficerTrustee | 2 | $0 |
John Colaruotolo Chairman | OfficerTrustee | 2 | $0 |
Samuel Merlo Chairman Emeritus | OfficerTrustee | 2 | $0 |
Stephen V Dorazio Treasurer | OfficerTrustee | 2 | $0 |
Michael Tambe Vice Chairman | OfficerTrustee | 2 | $0 |
Marcello Battisti Vice President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,300 |
| Total Program Service Revenue | $0 |
| Investment income | $100,964 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $128,213 |
| Net Income from Fundraising Events | $159,110 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $403,587 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $120,000 |
| 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 | $30,793 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,549 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,985 |
| Fees for services: Other | $1,043 |
| Advertising and promotion | $0 |
| Office expenses | $2,317 |
| Information technology | $1,209 |
| Royalties | $0 |
| Occupancy | $14,268 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $293 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $312 |
| Insurance | $3,853 |
| All other expenses | $0 |
| Total functional expenses | $196,392 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,257 |
| Savings and temporary cash investments | $28,545 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $572 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,384,055 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,425,429 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| 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 | $1,425,429 |
| Total liabilities and net assets/fund balances | $1,425,429 |
Grants Awarded
Over the last fiscal year, Italian Charities Inc has awarded $120,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Rochester, NY PURPOSE: NEED BASED SCHOLARSHIPS. | $20,000 |
East Rochester, NY PURPOSE: NEED BASED SCHOLARSHIPS. | $20,000 |
BISHOP KEARNEY PURPOSE: NEED BASED SCHOLARSHIPS. | $20,000 |
Rochester, NY PURPOSE: NEED BASED SCHOLARSHIPS. | $20,000 |
OUR LADY OF MERCY PURPOSE: NEED BASED SCHOLARSHIPS. | $20,000 |
Rochester, NY PURPOSE: NEED BASED SCHOLARSHIPS. | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Italian Charities Inc has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Rochester Area Community Foundation Depository Inc Rochester, NY PURPOSE: FOR SCHOLARSHIPS | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dr Miriam And Sheldon G Adelson Medical Research Foundation Needham, MA | $9,824,950 | $46,333,953 |
Donald B And Dorothy L Stabler Foundation Harrisburg, PA | $483,040,822 | $63,822,611 |
Fund For Charitable Giving Pittsburgh, PA | $174,176,180 | $114,342,351 |
Hope For Youth Inc Amityville, NY | $10,865,800 | $14,335,992 |
Lauren And Lee Fixel Family Foundation Inc New York, NY | $40,185,371 | $21,974,777 |
Joy In Childhood Foundation Inc Canton, MA | $7,582,989 | $8,931,292 |
Joint Council For Economic Opportunity Of Clinton & Franklin Plattsburgh, NY | $5,357,972 | $10,698,049 |
Health Management Group Ltd Getzville, NY | $13,266,135 | $8,802,636 |
Roy Lichtenstein Foundation New York, NY | $85,182,586 | $2,378,185 |
Mccance Foundation Tr North Scituate, MA | $91,930,926 | $3,999,038 |
Childrens Dyslexia Centers Inc Lexington, MA | $70,604,540 | $15,265,584 |
North Central Area Agency On Aging Inc Hartford, CT | $1,856,134 | $6,505,484 |