Casa Belvedere the Italian Cultural Foundation Inc

Analysis

Casa Belvedere the Italian Cultural Foundation Inc is a registered charity in United States, based in Staten Island, NY. It received its IRS tax-exemption ruling in June 2009, 17 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Casa Belvedere the Italian Cultural Foundation Inc reported income of $2.5m and spending of $1.8m, leaving 30% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $2.5m (+87%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 50%. Over the whole period it spent 53% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Casa Belvedere the Italian Cultural Foundation 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 Consultative Group on Biological Diversity ($2.5m), Higher Ambition Leadership Alliance Inc ($2.5m) and Community Music School of Springfield Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 2.8% of the total. Compensation of current officers, directors and key employees was $150k (8.4% of expenses). Other salaries and wages came to $422k. It paid $40k in professional fundraising fees. At year end it held assets of $8.7m against liabilities of $1.8m, net assets of $6.9m. It reported 8 employees.