Italian American Community Center Inc

Analysis

Italian American Community Center Inc is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in August 1993, 33 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 publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Italian American Community Center Inc reported income of $2.5m and spending of $398k, leaving 84% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $394k to $2.5m (+538%), an average of +59% a year. The sharpest change came in the year to December 2023, when income rose by 6047%. Over the whole period it spent 48% 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 Community Center Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Staten Island Institute of Arts and Sciences ($2.5m), Palo Alto Museum ($2.5m) and Centro de Periodismo Investigativo Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.1% and program service revenue 3.4% of the total. Other salaries and wages came to $34k. At year end it held assets of $2.7m against liabilities of $406k, net assets of $2.3m. It reported 20 employees.