Italian American Club Foundation Inc

Analysis

Italian American Club Foundation Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in November 1983, 43 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 June 2023, Italian American Club Foundation Inc reported income of $431k and spending of $419k, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $151k to $431k (+185%), an average of +30% a year. The sharpest change came in the year to June 2020, when income rose by 120%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Italian American Club Foundation Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 67th percentile within MN. Charities of a similar size with the same main cause include Johnson County Library Foundation ($431k), Lifeprep Projects Inc ($431k) and Nacs Foundation ($431k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.9% and program service revenue 0.2% of the total. At year end it held assets of $1.1m against liabilities of $2,267, net assets of $1.1m. It reported 22 employees.