Italian Community Center Inc
- Assets
- $1.9m
- Revenue
- $134.7k
- Investments
- $105.0k
- Employees
- 1
- Location
- Milwaukee, WI
- Founding
- 05/1979
- Data as of
- 12/2020
- EIN
- 39-1304069
Organization Overview
Italian Community Center Inc is located in Milwaukee, WI. The organization was established in 1979. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Italian 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 12/2020, Italian Community Center Inc generated $134.7k 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 (29.2%) each year. All expenses for the organization totaled $356.1k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (19.9%) per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PLANNING,PROMOTING, AND CARRYING OUT CHARITABLE, EDUCATIONAL, AND CULTURAL ACTIVITIES TO BEST SERVE THE WELFARE OF AMERICANS OF ITALIAN DESCENT AND THE ENTIRE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FESTA ITALIANA IS ONE OF THE COUNTRY'S LARGEST ITALIAN-AMERICAN FESTIVALS AND PREMIERE ITALIAN CULTURAL EVENT. THE FESTIVAL IS A CELEBRATION OF ITALIAN FOOD, ARTS, CULTURE AND RELIGION. DUE TO COVID-19 PANDEMIC, THE FESTIVAL WAS CANCELLED FOR 2021.
EDUCATIONAL AND CULTURAL ACTIVITIES SERVING THE WELFARE OF AMERICANS OF ITALIAN DESCENT AND THE ENTIRE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ted Catalano Treasurer | OfficerTrustee | 4 | $0 |
Gina Spang Vice Preside | OfficerTrustee | 4 | $0 |
Susie Christiansen Secretary | OfficerTrustee | 4 | $0 |
Rose Anne Fritchie President | OfficerTrustee | 10 | $0 |
Joseph Emanuele Director | Trustee | 4 | $0 |
Salvatore Lococo Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $35,473 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $34,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $46,649 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $116,822 |
| Total Program Service Revenue | $25,054 |
| Investment income | $3,772 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$27,963 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $3,925 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $134,716 |
| 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 | $95,288 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,418 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,037 |
| Fees for services: Accounting | $43,590 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,295 |
| Advertising and promotion | $36 |
| Office expenses | $16,748 |
| Information technology | $8,307 |
| Royalties | $0 |
| Occupancy | $26,796 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,261 |
| Interest | $36,557 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $74,572 |
| Insurance | $8,926 |
| All other expenses | $4,241 |
| Total functional expenses | $356,058 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,118 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,380 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,886 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,700,919 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $105,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,853,303 |
| Accounts payable and accrued expenses | $36,714 |
| 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 | $3,083,322 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $111,394 |
| Total liabilities | $3,231,430 |
| Net assets without donor restrictions | -$1,378,127 |
| 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 | $1,853,303 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Italian Community Center Inc has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Js Manone Foundation Inc Menomonee Falls, WI PURPOSE: CULTURAL PROGRAMS | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Community Center Inc Milwaukee, WI | $70,716,496 | $43,697,307 |
La Casa De Esperanza Waukesha, WI | $23,404,993 | $20,494,183 |
Arab American And Chaldean Council Troy, MI | $8,630,669 | $15,092,371 |
Asian Human Services Of Chicago Inc Chicago, IL | $8,154,074 | $16,173,031 |
The Young Center For Immigrant Childrens Rights Chicago, IL | $11,541,964 | $10,481,518 |
Chinese Mutual Aid Association Inc Chicago, IL | $5,927,366 | $10,929,643 |
Urhai Community Service Center Chicago, IL | $15,491,787 | $12,759,943 |
Asi Chicago, IL | $3,134,379 | $11,430,726 |
Northwest Indian Community Development Center Nwicdc Bemidji, MN | $2,453,289 | $5,278,274 |
International Institute Of Minnesota St Paul, MN | $17,229,292 | $9,381,007 |
Change Inc Saint Paul, MN | $2,835,627 | $4,194,047 |
Polish American Association Chicago, IL | $1,991,502 | $4,071,421 |