Italian American Committee on Education Inc

Analysis

Italian American Committee on Education Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 1985, 41 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Italian American Committee on Education Inc reported income of $2.3m and spending of $2.2m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.4m to $2.3m (-0.9%), an average of -0.2% a year. The sharpest change came in the year to December 2021, when income dropped by 46%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Italian American Committee on Education Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Childrens Discovery Center ($2.3m), Huntsville Museum of Art ($2.3m) and Lexington Theatre Company ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $190k. At year end it held assets of $1.8m against liabilities of $879k, net assets of $886k. It reported 2 employees.