Italian Charities Inc

Analysis

Italian Charities Inc is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in July 1988, 38 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 Inc reported income of $168k and spending of $212k, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $220k to $168k (-24%), an average of -6.5% a year. The sharpest change came in the year to December 2021, when income rose by 118%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Italian Charities Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include Pittsfield Youth Workshop ($168k), Sharpsburg Neighborhood Organization ($168k) and Kentco Properties Inc ($167k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.4% of the total. Compensation of current officers, directors and key employees was $42k (20% of expenses). At year end it held assets of $1.5m against liabilities of $0, net assets of $1.5m. It reported 1 employees.