Italian American Club Inc
- Assets
- $196.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Rutland, VT
- Founding
- 03/1997
- Data as of
- 12/2021
- EIN
- 03-0352430
Organization Overview
Italian American Club Inc is located in Rutland, VT. The organization was established in 1997. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Italian American Club Inc 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 Inc generated $28.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.7%) each year. All expenses for the organization totaled $50.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
PROVIDED RECREATION AND SOCIAL ACTIVITIES FOR IT'S MEMBERS AND GUESTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Cioffi Sr President | 5 | $0 | |
Dean Romano Vice President | 5 | $0 | |
John Kulig Treasurer | 5 | $0 | |
David Cioffi Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,145 |
| Total Program Service Revenue | $0 |
| Membership dues | $10,455 |
| Investment income | $26 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $10,151 |
| Other Revenue | $550 |
| Total Revenue | $28,180 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $2,542 |
| Professional fees and other payments to independent contractors | $1,950 |
| Occupancy, rent, utilities, and maintenance | $7,236 |
| Printing, publications, postage, and shipping | $1,118 |
| Other expenses | $37,236 |
| Total expenses | $50,082 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $103,114 |
| Other assets | $0 |
| Total assets | $196,298 |
| Total liabilities | $450 |
| Net assets or fund balances | $195,848 |
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