Italian American Cultural Center

Analysis

Italian American Cultural Center is a registered charity in United States, based in Des Moines, IA. It received its IRS tax-exemption ruling in May 1984, 42 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 Center reported income of $178k and spending of $174k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $310k to $178k (-42%), an average of -13% a year. The sharpest change came in the year to December 2021, when income rose by 4687%. Over the whole period it spent 36% 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 Center sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 52nd percentile within IA. Charities of a similar size with the same main cause include Toledo Community Theatre Guild ($178k), Swedish Womens Educational Association ($178k) and Alabama Society for Heathcare Engineering Inc ($178k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 7.6% of the total. At year end it held assets of $4.4m against liabilities of $1.6m, net assets of $2.8m.