Society Of Italian American Businessmen Inc
- Assets
- $437.5k
- Revenue
- $277.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Bel Air, MD
- Founding
- 06/2014
- Data as of
- 12/2022
- EIN
- 46-2965362
Organization Overview
Society Of Italian American Businessmen Inc is located in Bel Air, MD. The organization was established in 2014. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., 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. Society Of Italian American Businessmen 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 12/2022, Society Of Italian American Businessmen Inc generated $277.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.9% each year . All expenses for the organization totaled $145.0k during the year ending 12/2022. While expenses have increased by 23.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Society Of Italian American Businessmen Inc has awarded 20 individual grants totaling $392,039. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS A FELLOWSHIP OF ITALIAN-AMERICAN BUSINESSMEN CONSISTING OF PEOPLE THAT LIVE, WORK, AND/OR WORSHIP IN HARFORD COUNTY, MARYLAND
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROGRAM MISSION OF THE ORGANIZATION IS TO SUPPORT OTHER CHARITABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Papa President | OfficerTrustee | 5 | $0 |
Anthonydipaula Vice President | OfficerTrustee | 5 | $0 |
Joe Caloggero 1st Vice Pres | OfficerTrustee | 5 | $0 |
Mike Deluca 2nd Vice Pres | OfficerTrustee | 5 | $0 |
John Troiano Treasurer | OfficerTrustee | 5 | $0 |
Nick Berte Asst Treasurer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $29,440 |
| Fundraising events | $149,688 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,469 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $192,597 |
| Total Program Service Revenue | $0 |
| Investment income | $4,195 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,703 |
| Net Income from Fundraising Events | $82,113 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$168 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $277,034 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $88,708 |
| 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 | $550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,934 |
| Office expenses | $11,344 |
| 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 | $2,473 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,041 |
| All other expenses | $0 |
| Total functional expenses | $144,987 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $124,500 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $313,039 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $437,539 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $437,539 |
| 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 | $437,539 |
Grants Awarded
Over the last fiscal year, Society Of Italian American Businessmen Inc has awarded $62,008 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
CHAR HOPE FOUND PURPOSE: Program | $25,000 |
THE ARC NCR PURPOSE: Program | $18,504 |
HARF COMM FOUND PURPOSE: Program | $18,504 |