Cleveland Italian Scholarship Club
- Assets
- $138.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 12/1999
- Data as of
- 12/2022
- EIN
- 34-1719346
Organization Overview
Cleveland Italian Scholarship Club is located in Cleveland, OH. The organization was established in 1999. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cleveland Italian Scholarship Club 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 12/2022, Cleveland Italian Scholarship Club generated $10.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (19.6%) each year. All expenses for the organization totaled $13.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (10.0%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
THE PURPOSE IS TO RAISE FUNDS FROM ITS MEMBERSHIP TO ENABLE THE ASSOCIATION TO PROVIDE COLLEGE SCHOLARSHIPS/GRANTS TO COLLEGE STUDENTS ATTENDING A QUALIFIED FOUR (4) YEAR ACCREDITED INSTITUTION. FURTHER, DURING MOST MONTHS OF THE YEAR THERE ARE DINNER MEETINGS HELD TO RAISE ADDITIONAL FUNDS AND CONDUCT THE BUSINESS OF THE ASSOCIATION. QUALIFIED CANDIDATES FOR THESE SCHOLARSHIPS/GRANTS ARE INTERVIEWED AND MEMBERS OF THE ASSOCIATION HAVE EDUCATIONAL SEMINARS AT THESE MEETINGS. VARIOUS EDUCATORS WITHIN THE LOCALE OF THE ASSOCIATION HAVE ALSO BEEN INVITED IN FOR THEIR INFORMATION. FOUR ANNUAL SIX (6) YEAR SCHOLARSHIPS WERE AWARDED IN 2022 FOR A TOTAL 2022 EXPENDITURE OF 12,000.00. DUE TO COVID-19 OUR ASSOCIATION HELD LESS THAN NORMAL MEETINGS FOR 2022. IN ADDITION CANDIDATES FOR SCHOLARSHIPS WERE HARD TO FIND DUE TO COVID-19.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven A Calabrese President | 3 | $0 | |
David Fortunato Secretary | 3 | $0 | |
William R Franz Treasurer | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $13,500 |
| Investment income | $349 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | -$3,244 |
| Other Revenue | $0 |
| Total Revenue | $10,605 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $1,000 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $0 |
| Total expenses | $13,000 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $138,192 |
| Other assets | $0 |
| Total assets | $138,192 |
| Total liabilities | $0 |
| Net assets or fund balances | $138,192 |