Italian Cultural Society
- Assets
- $1.0m
- Revenue
- $152.9k
- Investments
- $0.0
- Employees
- 7
- Location
- Sacramento, CA
- Founding
- 08/1982
- Data as of
- 12/2022
- EIN
- 94-2777430
Organization Overview
Italian Cultural Society is located in Sacramento, CA. The organization was established in 1982. 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 7 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 $152.9k 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 (7.9%) each year. All expenses for the organization totaled $166.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND SPONSOR ACTIVITIES THAT FACTOR AWARENESS OF APRECIATION OF THE ITALIAN AMERICAN CUTURAL EXPERIENCE
Describe the Organization's Program Activity:
OTHER PROGRAM SERVICES PROMOTING HERITAGE CONCEPTS THROUGH MOVIES SEMINARS DANCE GROUPS TRADITIONAL CUSTOMS AND LIBRARY
LANGUAGE CLASSES - TEACHING THE ITALIAN LANGUAGE
FESTA ITALIANA - THIS IS AN ITALIAN AMERICAN CULTURAL FESTIVAL FEATURING ITALIAN AND ITALIAN-AMERICAN DANCING, MUSIC,FOOD AND OTHER ASPECTS OF ITALIAN AND ITALIAN-AMERICAN CULTURAL HERITAGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nick Bloise 7-Director | Trustee | 1 | $0 |
Diane Martin 6-Director | Trustee | 1 | $0 |
Adriana Stephens 9-Director | Trustee | 1 | $0 |
Drew Caprile 8-Director | Trustee | 1 | $0 |
Dominick Adorno 5-Director | Trustee | 1 | $0 |
Patty Peter 2-Vice President-Director | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $155 |
| Membership dues | $10,337 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,005 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,497 |
| Total Program Service Revenue | $131,194 |
| Investment income | $224 |
| 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 | $152,915 |
| 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 | $61,765 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,840 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $475 |
| Fees for services: Accounting | $0 |
| 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 | $11,843 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,617 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,701 |
| Insurance | $4,277 |
| All other expenses | $0 |
| Total functional expenses | $166,164 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,592 |
| Savings and temporary cash investments | $114,097 |
| 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 | $0 |
| Net Land, buildings, and equipment | $915,218 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,046,907 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,046,907 |
| 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 | $1,046,907 |
Grants Awarded
Over the last fiscal year, Italian Cultural Society has awarded $45,143 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
LA PICCOLA SCOULA NEI PARCO PURPOSE: SUPPORT ITALIAN LANGUAGE PRGRM | $1,500 |
CLARENDON ELEMENTARY SHOOL PURPOSE: SUPPORT ITALIAN LANGUAGE PRGRM | $2,000 |
ST CATHERINE OF SIENA PURPOSE: SUPPORT ITALIAN LANGUAGE PRGRM | $3,000 |
OAK RIDGE HIGH SCHOOL PURPOSE: SUPPORT ITALIAN LANGUAGE PRGRM | $1,000 |
VALLEY CHRISTIAN SCHOOL PURPOSE: SUPPORT ITALIAN LANGUAGE PRGRM | $0 |
ST FRANCIS OF ASSISI PURPOSE: SUPPORT ITALIAN LANGUAGE PRGRM | $4,500 |