Italian Educational & Cultural Ctr

Analysis

Italian Educational & Cultural Ctr is a registered charity in United States, based in Jersey City, NJ. It received its IRS tax-exemption ruling in July 1985, 41 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 Educational & Cultural Ctr reported income of $79k and spending of $69k, spending 87% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $68k to $79k (+15%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 15%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Italian Educational & Cultural Ctr sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 38th percentile within NJ. Charities of a similar size with the same main cause include Hunter Public Library ($79k), Southcentral Camp Cadet Incorporated ($79k) and Holy Spirit Ministries Inc ($79k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 39% of the total. At year end it held assets of $382k against liabilities of $0, net assets of $382k.