Italian Cultural Society

Analysis

Italian Cultural Society is a registered charity in United States, based in Bethesda, MD. It received its IRS tax-exemption ruling in May 1979, 47 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, Italian Cultural Society reported income of $743k and spending of $707k, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $557k to $743k (+33%), an average of +7.4% a year. The sharpest change came in the year to December 2022, when income rose by 23%. Over the whole period it spent 98% 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 Cultural Society sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MD. Charities of a similar size with the same main cause include Chamber Music Society of Detroit ($742k), Project Level ($743k) and 4youandme ($742k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% and program service revenue 74% of the total. Other salaries and wages came to $199k. At year end it held assets of $434k against liabilities of $28k, net assets of $405k. It reported 4 employees.