Naples Italian American Foundation Inc
- Assets
- $866.2k
- Revenue
- $256.5k
- Investments
- $0.0
- Employees
- 13
- Location
- Naples, FL
- Founding
- 07/2006
- Data as of
- 06/2023
- EIN
- 20-5045417
Organization Overview
Naples Italian American Foundation Inc is located in Naples, FL. The organization was established in 2006. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2023, Naples Italian American Foundation Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Naples Italian American Foundation 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 06/2023, Naples Italian American Foundation Inc generated $256.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $312.7k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS ESTABLISHED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES AND OPERATES AS A SERVICE ORGANIZATION CELEBRATING, PROMOTING, AND PRESERVING ITALIAN CULTURE AND HERITAGE IN COLLIER AND LEE COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ACHIEVE ITS EXEMPT PURPOSE, THE ORGANIZATION SPONSORS PERIODIC EVENTS OF IMPORTANCE TO THE ITALIAN AMERICAN COMMUNITY, SPONSORS ITALIAN LANGUAGE STUDIES, ENHANCES EDUCATIONAL EXCELLENCE AMONG ITALIAN AMERICAN STUDENTS, PROVIDES FINANCIAL SUPPORT TO SPECIAL OLYMPICS, SUPPORT TO NON-PROFIT ORGANIZATIONS BENEFITING CHILDREN, AND SUPPORT TO OTHER COMMUNITY BASED NON-PROFIT ORGANIZATIONS. THE ORGANIZATION IS IN THE PROCESS OF ESTABLISHING A SCHOLARSHIP PROGRAM TO BENEFIT HIGH SCHOOL SENIORS FROM COLLIER AND LEE COUNTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Wyland Director | Trustee | 1 | $0 |
Anthony Carfang Director | Trustee | 2 | $0 |
Joe Carlucci Director | Trustee | 1 | $0 |
Frank Castrogiovanni Director | Trustee | 2 | $0 |
Al Lenza Director | Trustee | 1 | $0 |
Brad Nelson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $52,675 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $78,425 |
| Total Program Service Revenue | $87,417 |
| Investment income | $4,886 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $83,130 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $2,290 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $256,537 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,000 |
| 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 | $25,872 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,302 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40 |
| Fees for services: Accounting | $9,285 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,000 |
| Advertising and promotion | $223 |
| Office expenses | $7,050 |
| Information technology | $2,284 |
| Royalties | $0 |
| Occupancy | $107,530 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $270 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,036 |
| Insurance | $32,858 |
| All other expenses | $2,477 |
| Total functional expenses | $312,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $98,443 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,300 |
| 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 | $596,690 |
| Investments—publicly traded securities | $168,785 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $866,218 |
| Accounts payable and accrued expenses | $736 |
| 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 | $5,534 |
| Total liabilities | $6,270 |
| Net assets without donor restrictions | $859,948 |
| 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 | $866,218 |
Grants Awarded
Over the last fiscal year, Naples Italian American Foundation Inc has awarded $41,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
FOLDS OF HONOR PURPOSE: Financial Support | $25,000 |
NEIGHBORHOOD HEALTH CLINIC PURPOSE: Financial Support | $6,000 |
WOUNDED VETERANS RELIEF FUND PURPOSE: Financial Support | $10,000 |