Sons of Italy Foundation

Analysis

Sons of Italy Foundation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in June 1930, 96 years ago. 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 September 2023, Sons of Italy Foundation reported income of $994k and spending of $831k, spending 84% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.4m to $994k (-29%), an average of -8.4% a year. The sharpest change came in the year to September 2021, when income dropped by 49%. Over the whole period it spent 69% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sons of Italy Foundation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 54th percentile within DC. Charities of a similar size with the same main cause include National Church Residences of Brighton Heights Pennsylvania ($994k), Society for the Psychological Study of Social Issues ($994k) and Young Dancers in Repertory Inc ($994k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 66% of the total. Other salaries and wages came to $152k. At year end it held assets of $3.1m against liabilities of $222k, net assets of $2.9m.