Italian Center of Stamford Inc

Analysis

Italian Center of Stamford Inc is a registered charity in United States, based in Stamford, CT. It received its IRS tax-exemption ruling in September 1958, 68 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Italian Center of Stamford Inc reported income of $7.7m and spending of $7.6m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.3m to $7.7m (+21%), an average of +4.9% a year. The sharpest change came in the year to December 2021, when income rose by 77%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Italian Center of Stamford Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within CT. Charities of a similar size with the same main cause include Arizona Childrens Risk Solutions ($7.7m), Glendale Prepatory Academy ($7.7m) and My Sisters Place Inc ($7.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $3.6m (48% of expenses). At year end it held assets of $9.7m against liabilities of $5.5m, net assets of $4.2m. It reported 270 employees.