American-Italian Heritage Society Inc

Analysis

American-Italian Heritage Society Inc is a registered charity in United States, based in Omaha, NE. It received its IRS tax-exemption ruling in January 1982, 44 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 (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, American-Italian Heritage Society Inc reported income of $383k and spending of $606k, spending 158% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $312k to $383k (+22%), an average of +5.2% a year. The sharpest change came in the year to December 2021, when income rose by 67%. Over the whole period it spent 132% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, American-Italian Heritage Society Inc sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within NE. Charities of a similar size with the same main cause include Alamo City Performing Arts Association ($383k), Chamber Music Unbound ($383k) and Berkshire County Historical Society Inc ($382k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $16k. At year end it held assets of $3.6m against liabilities of $2.1m, net assets of $1.5m. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.