Italian Charities of America Inc

Analysis

Italian Charities of America Inc is a registered charity in United States, based in Elmhurst, NY. It received its IRS tax-exemption ruling in February 1952, 74 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 Charities of America Inc reported income of $265k and spending of $255k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $167k to $265k (+58%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 113%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Italian Charities of America Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 56th percentile within NY. Charities of a similar size with the same main cause include C R S P ($265k), Texas Association of School Psychologists ($265k) and Tom Ewing Ministries Inc ($264k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 9.2% of the total. Compensation of current officers, directors and key employees was $77k (30% of expenses). At year end it held assets of $843k against liabilities of $0, net assets of $843k. It reported 4 employees.