Italian American Club Of Southern is located in Las Vegas, NV. The organization was established in 1964. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Italian American Club Of Southern employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Italian American Club Of Southern is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Italian American Club Of Southern generated $1.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $977.7k during the year ending 12/2021. While expenses have increased by 9.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SCHOLARSHIPS AND SOCIAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
N/A
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Angelo Cassaro President | Officer | 2 | $0 |
Anthony Ricevuto Vice-Pres | Officer | 0 | $0 |
Dario Basso Treasurer | Officer | 0 | $0 |
Nina Fallico Secretary | Officer | 0 | $0 |
Gabriella Quarantello Director | Trustee | 0 | $0 |
Joe Cassaro Director | Trustee | 0 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $52,569 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $52,569 |
Total Program Service Revenue | $0 |
Investment income | $0 |
Tax Exempt Bond Proceeds | $88 |
Royalties | $0 |
Net Rental Income | $37,295 |
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 | $957,359 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,047,311 |
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 | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $395,000 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $10,700 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $38,220 |
Office expenses | $12,856 |
Information technology | $6,834 |
Royalties | $0 |
Occupancy | $3,000 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $15,125 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $25,366 |
Insurance | $21,893 |
All other expenses | $23,882 |
Total functional expenses | $977,658 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $328,955 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $2,450 |
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 | $364,999 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $10,000 |
Total assets | $706,404 |
Accounts payable and accrued expenses | $33,509 |
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 | $250,000 |
Total liabilities | $283,509 |
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 | $422,895 |
Total liabilities and net assets/fund balances | $706,404 |
Over the last fiscal year, we have identified 1 grants that Italian American Club Of Southern has recieved totaling $10,000.
Awarding Organization | Amount |
---|---|
Ruvo Family Foundation Las Vegas, NV PURPOSE: TO HELP VERY DESERVING STUDENTS ACHIEVE THEIR EDUCATIONAL GOALS | $10,000 |
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