Italian Cultural Society
- Assets
- $414.2k
- Revenue
- $654.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Bethesda, MD
- Founding
- 05/1979
- Data as of
- 12/2022
- EIN
- 52-1148758
Organization Overview
Italian Cultural Society is located in Bethesda, MD. The organization was established in 1979. 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. As of 12/2022, Italian Cultural Society employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Italian Cultural Society 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, Italian Cultural Society generated $654.3k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $650.1k during the year ending 12/2022. While expenses have increased by 10.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING THE ITALIAN LANGUAGE & CULTURE
Describe the Organization's Program Activity:
Part 3 - Line 4a
ITALIAN LANGUAGE PROGRAM: TEACHING THE ITALIAN LANGUAGE TOADULTS AND CHILDREN (INCLUDING IN CHILDRENS SUMMER DAY CAMPS).EXPENDITURES INCLUDE SALARIES, BOOKS SUPPLIES, RENT FOR CLASSROOMS, ETC
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francesca Casazza-Krieg Board Member And Executive Di | Trustee | 36 | $0 |
Ellen Coppley Board Member | Trustee | 1 | $0 |
Elizabeth DE Leon-Jones Board Member | Trustee | 0 | $0 |
Melitta Paterni Board Member | Trustee | 1 | $0 |
Salvatore Romano Board Member | Trustee | 0 | $0 |
Angela Maggi Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $23,480 |
| Fundraising events | $103,189 |
| Related organizations | $0 |
| Government grants | $54,377 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,801 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $182,847 |
| Total Program Service Revenue | $467,773 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $654,280 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,700 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $81,855 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $91,357 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,650 |
| Payroll taxes | $15,039 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,880 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,437 |
| Office expenses | $21,843 |
| Information technology | $1,565 |
| Royalties | $0 |
| Occupancy | $68,851 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,906 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,083 |
| Insurance | $3,672 |
| All other expenses | $42,312 |
| Total functional expenses | $650,082 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $257,041 |
| Savings and temporary cash investments | $120,000 |
| 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 | $5,000 |
| Net Land, buildings, and equipment | $31,822 |
| Investments—publicly traded securities | $375 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $414,238 |
| Accounts payable and accrued expenses | $6,636 |
| 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 | $38,323 |
| Total liabilities | $44,959 |
| 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 | $369,279 |
| Total liabilities and net assets/fund balances | $414,238 |