Italian American Cultural Society

Analysis

Italian American Cultural Society is a registered charity in United States, based in Clinton TWP, MI. It received its IRS tax-exemption ruling in April 1962, 64 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, Italian American Cultural Society reported income of $3.6m and spending of $3.5m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.4m to $3.6m (+53%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 114%. Over the whole period it spent 101% 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 Cultural Society sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within MI. Charities of a similar size with the same main cause include Muhammad Ali Museum and Education ($3.6m), Valley Public Television Inc ($3.6m) and Palm Beach Dramaworks Inc ($3.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.2% and program service revenue 1.1% of the total. Other salaries and wages came to $1.4m. At year end it held assets of $3.5m against liabilities of $824k, net assets of $2.7m. It reported 108 employees.