Foundation for Italian Art and Culture

Analysis

Foundation for Italian Art and Culture is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 2004, 22 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Foundation for Italian Art and Culture reported income of $277k and spending of $200k, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $255k to $277k (+8.6%), an average of +2.1% a year. The sharpest change came in the year to December 2022, when income rose by 505%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation for Italian Art and Culture sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 57th percentile within NY. Charities of a similar size with the same main cause include Uprise Collective ($277k), Cpcoalition ($277k) and We Defend Truth ($277k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $64k (32% of expenses). At year end it held assets of $600k against liabilities of $12k, net assets of $587k.