Italy-American Chamber Of Commerce Inc
- Assets
- $889.6k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 04/1944
- Data as of
- 12/2023
- EIN
- 13-5161230
Organization Overview
Italy-American Chamber Of Commerce Inc is located in New York, NY. The organization was established in 1944. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Italy-American Chamber Of Commerce Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Italy-American Chamber Of Commerce Inc generated $1.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $1.2m during the year ending 12/2023. While expenses have increased by 3.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION OF ECONOMIC INTERESTS BETWEEN ITALY AND THE UNITED STATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEWSLETTERS WERE PUBLISHED AND DISTRIBUTED TO MEMBERS AND NONMEMBERS, AND EVENTS WERE ORGANIZED PROMOTING THE ECONOMIC EXCHANGE BETWEEN USA AND ITALY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Franco DE Angelis Secretary General | Officer | 40 | $128,250 |
Federico Tozzi Employee | 40 | $103,846 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $409,762 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $96,918 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,971 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $526,651 |
| Total Program Service Revenue | $600,646 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,000 |
| 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 | $1,171,943 |
| 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. | $173,150 |
| Compensation of current officers, directors, key employees. | $173,150 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $180,670 |
| Pension plan accruals and contributions | $19,927 |
| Other employee benefits | $60,967 |
| Payroll taxes | $24,461 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,000 |
| Fees for services: Accounting | $24,344 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $32,726 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $95,862 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,375 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $127,560 |
| Insurance | $3,820 |
| All other expenses | $92,702 |
| Total functional expenses | $1,212,601 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $552,717 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $71,136 |
| 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 | $48,490 |
| Net Land, buildings, and equipment | $15,579 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $201,723 |
| Total assets | $889,645 |
| Accounts payable and accrued expenses | $23,641 |
| 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 | $654,970 |
| Total liabilities | $678,611 |
| Net assets without donor restrictions | $211,034 |
| 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 | $889,645 |