Italian American Club Of Livonia Charitable Foundation
- Assets
- $135.6k
- Revenue
- $58.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Livonia, MI
- Founding
- 09/2001
- Data as of
- 12/2023
- EIN
- 38-3593293
Organization Overview
Italian American Club Of Livonia Charitable Foundation is located in Livonia, MI. The organization was established in 2001. 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. This organization is the central organization for a national or regional group of organizations. Italian American Club Of Livonia Charitable 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 12/2023, Italian American Club Of Livonia Charitable Foundation generated $58.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $41.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 7 years. 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
BENEFITING THE EDUCATION OF THE ITALIAN AMERICAN COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED $1,500 SCHOLARSHIPS FOR SECONDARY EDUCATION TO 15 STUDENTS ATTENDING COLLEGES TO BE DETERMINED.
ITALIAN CLASSES
VARIOUS DONATIONS:ST. LOUIS CENTERVERDI OPERANOI FOUNDATIONDANTE ALIGHIERIRUGERIO PROMISE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nino Ruggirello President 2023 | OfficerTrustee | 1 | $0 |
Mary Fleury Vice President 2023 | OfficerTrustee | 1 | $0 |
Angelo Dorazio Treasurer 2023-2024 | OfficerTrustee | 1 | $0 |
Andrew Kelleher Secretary 2023-2024 | OfficerTrustee | 1 | $0 |
Franco Iaderosa Director 2023-2024 | Trustee | 1 | $0 |
Frank Luscri Director 2023 | Trustee | 1 | $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 | $112 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112 |
| Total Program Service Revenue | $7,685 |
| Investment income | $3,872 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $46,371 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $58,040 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,100 |
| Grants and other assistance to domestic individuals. | $15,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $691 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $116 |
| Insurance | $498 |
| All other expenses | $0 |
| Total functional expenses | $41,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,613 |
| Savings and temporary cash investments | $133,995 |
| 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 | $19 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $135,627 |
| Accounts payable and accrued expenses | $1,000 |
| Grants payable | $15,000 |
| 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 | $16,000 |
| 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 | $119,627 |
| Total liabilities and net assets/fund balances | $135,627 |
Grants Awarded
Over the last fiscal year, Italian American Club Of Livonia Charitable Foundation has awarded $38,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SHADES OF PINK FOUNDATION PURPOSE: PROVIDE TEMPORARY FINANICAL ASSISTANCE TO WOMEN WHO ARE EXPERIENCING FINANCIAL DISTRESS AS A RESULT OF BREAST CANCER | $12,000 |
ST LOUIS CENTER PURPOSE: RESIDENTIAL, FAMILY LIVING AND LEARNING ENVIRONMENT PROVIDING FOR THE PHYSICAL, EMOTIONAL AND SPIRITUAL NEEDS OF CHILDREN AND ADULTS WITH DEVELOPMENTAL DISABILITIES. | $7,000 |
SHADES OF PINK FOUNDATION PURPOSE: PROVIDE TEMPORARY FINANICAL ASSISTANCE TO WOMEN WHO ARE EXPERIENCING FINANCIAL DISTRESS AS A RESULT OF BREAST CANCER | $12,000 |
ST LOUIS CENTER PURPOSE: RESIDENTIAL, FAMILY LIVING AND LEARNING ENVIRONMENT PROVIDING FOR THE PHYSICAL, EMOTIONAL AND SPIRITUAL NEEDS OF CHILDREN AND ADULTS WITH DEVELOPMENTAL DISABILITIES. | $7,000 |