Italian American Community Center Inc
- Assets
- $1.4m
- Revenue
- $229.3k
- Investments
- $0.0
- Employees
- 20
- Location
- Rochester, NY
- Founding
- 08/1993
- Data as of
- 12/2021
- EIN
- 16-1428661
Organization Overview
Italian American Community Center Inc is located in Rochester, NY. The organization was established in 1993. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Italian American Community Center Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Italian American Community Center 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 American Community Center Inc generated $229.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (13.3%) each year. All expenses for the organization totaled $264.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
DEVELOPMENT AND PRESENTATION OF ITALIAN CULTURAL ACTIVITIES THAT ASSIST MEMBERS IN OBTAINING A GREATER UNDERSTANDING OF THEIR ANCESTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roberto Cappuccio President | OfficerTrustee | 2 | $0 |
Joseph Difabio Vice President | OfficerTrustee | 2 | $0 |
Christopher Ciardi Treasurer | OfficerTrustee | 2 | $0 |
Richard Santo Secretary | OfficerTrustee | 2 | $0 |
Frank Ciardi Director | Trustee | 1 | $0 |
Quintino Dicesare Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $7,995 |
| Fundraising events | $9,760 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $60 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,815 |
| Total Program Service Revenue | $30,518 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $193,274 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$12,353 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $229,265 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $60,274 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,993 |
| 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 | $0 |
| Fees for services: Other | $3,391 |
| Advertising and promotion | $8,292 |
| Office expenses | $4,753 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,223 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $35,552 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $72,404 |
| Insurance | $12,067 |
| All other expenses | $1,084 |
| Total functional expenses | $264,059 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,396 |
| Savings and temporary cash investments | $16 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $106,353 |
| 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 | $1,218,792 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,393,557 |
| Accounts payable and accrued expenses | $79,476 |
| Grants payable | $0 |
| Deferred revenue | $45,971 |
| 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 | $697,698 |
| Unsecured mortgages and notes payable | $260,357 |
| Other liabilities | $0 |
| Total liabilities | $1,083,502 |
| Net assets without donor restrictions | $310,055 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,393,557 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Italian American Community Center Inc has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Bernard And Patricia Iacovangelo Family Foundation Inc Wilmington, DE PURPOSE: ADMINISTRATIVE ASSISTANCE FUND | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Epoch Times Association Inc New York, NY | $35,086,092 | $121,545,102 |
The American Ireland Fund Boston, MA | $28,715,910 | $22,675,949 |
Japan Society Inc New York, NY | $91,776,832 | $10,515,982 |
Kutztown University Foundation Kutztown, PA | $74,779,996 | $14,561,087 |
French Institute-Alliance Francaise New York, NY | $24,965,114 | $8,095,199 |
Center For Jewish History Inc New York, NY | $52,466,984 | $9,804,079 |
Japanese Childrens Society Inc Englewood Cliffs, NJ | $6,760,346 | $7,633,011 |
National Yiddish Book Center Inc Amherst, MA | $63,979,400 | $12,290,218 |
Hispanic Society Of America New York, NY | $100,790,486 | $5,124,176 |
Columbus Citizens Foundation Inc New York, NY | $32,932,983 | $6,043,809 |
Swiss Institute New York, NY | $5,483,468 | $4,486,430 |
Greater Philadelphia Falun Dafa Association Philadelphia, PA | $1,063,316 | $4,579,656 |