Italian Political Independent Club
- Assets
- $365.0k
- Revenue
- $247.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Kensington, CT
- Founding
- Data as of
- 12/2022
- EIN
- 06-0670122
Organization Overview
Italian Political Independent Club is located in Kensington, CT. Italian Political Independent Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Italian Political Independent Club generated $247.2k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 20.1% each year . All expenses for the organization totaled $205.5k during the year ending 12/2022. While expenses have increased by 23.4% per year over the past 3 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
N/A
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Mangiafico President | Officer | 0 | $0 |
Raymond Revoir Vice President | Officer | 0 | $0 |
Sandi Souza Secretary | Officer | 0 | $0 |
Steven Alessi Treasurer | Officer | 2 | $0 |
William Aust Financial Secretary | Officer | 0 | $0 |
Angela Stewart Asst. Treasurer | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $56,240 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,782 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $74,022 |
| Total Program Service Revenue | $0 |
| Investment income | $11 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $8,612 |
| Net Income from Gaming Activities | $2,218 |
| Net Income from Sales of Inventory | $142,177 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $247,231 |
| 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 | $24,800 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,249 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $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 | $219 |
| Office expenses | $26,998 |
| 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 | $0 |
| Interest | $3,254 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,022 |
| Insurance | $10,296 |
| All other expenses | $41,283 |
| Total functional expenses | $205,477 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $71,666 |
| 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 | $1,839 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $288,164 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,300 |
| Other assets | $0 |
| Total assets | $364,969 |
| Accounts payable and accrued expenses | $1,701 |
| 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 | $54,216 |
| Total liabilities | $55,917 |
| 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 | $309,052 |
| Total liabilities and net assets/fund balances | $364,969 |