Sons Of Italy Foundation
- Assets
- $3.1m
- Revenue
- $994.3k
- Investments
- $0.0
- Employees
- 6
- Location
- Washington, DC
- Founding
- 06/1930
- Data as of
- 09/2023
- EIN
- 23-6276526
Organization Overview
Sons Of Italy Foundation is located in Washington, DC. The organization was established in 1930. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Sons Of Italy Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sons Of Italy Foundation 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 09/2023, Sons Of Italy Foundation generated $994.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $830.5k during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Sons Of Italy Foundation has awarded 52 individual grants totaling $1,551,056. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT EDUCATIONAL, MEDICAL RESEARCH AND CHARITABLE PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARITABLE, MEDICAL RESEARCH, EDUCATIONAL PROGRAM - TO PROVIDE FUNDS FOR CHARITABLE, MEDICAL AND EDUCATIONAL PROGRAMS. DONATIONS (SEE SCHEDULE) EDUCATIONAL PROGRAMS AND PUBLICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Sciame Sif Presiden | Officer | 10 | $0 |
Robert Bianchi ESQ Vice Chair | Officer | 3 | $0 |
Tony Naccarato Sif Trustee | OfficerTrustee | 3 | $0 |
Joseph Rondinelli Recording Se | Officer | 3 | $0 |
Vincent Sarno President Em | Officer | 2 | $0 |
Paul S Polo President Em | Officer | 4 | $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 | $651,495 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $651,495 |
| Total Program Service Revenue | $0 |
| Investment income | $18,061 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $31,118 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $244,188 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $994,333 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $70,000 |
| 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 | $151,873 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,780 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,925 |
| Fees for services: Accounting | $6,063 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,194 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,626 |
| Office expenses | $69,355 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,943 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,425 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,171 |
| Insurance | $0 |
| All other expenses | $2,404 |
| Total functional expenses | $830,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $137,933 |
| Pledges and grants receivable | $15,000 |
| Accounts receivable, net | $27,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $232 |
| Prepaid expenses and deferred charges | $47,375 |
| Net Land, buildings, and equipment | $133,893 |
| Investments—publicly traded securities | $2,722,585 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $28,134 |
| Total assets | $3,112,652 |
| Accounts payable and accrued expenses | $161,767 |
| Grants payable | $1,750 |
| 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 | $58,616 |
| Total liabilities | $222,133 |
| Net assets without donor restrictions | $528,879 |
| Net assets with donor restrictions | $2,361,640 |
| 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 | $3,112,652 |
Grants Awarded
Over the last fiscal year, Sons Of Italy Foundation has awarded $65,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
GARIBALDI MEUCCI MUSEUM PURPOSE: EDUCATION, MUSEUM | $15,000 |
HELP OUR MILITARY HEROES INC PURPOSE: DISABLED VET PROGRAM | $20,000 |
COMMISION FOR SOCIAL JUSTICE | | | $30,000 |