Italian Cultural & Community Center of Houston

Analysis

Italian Cultural & Community Center of Houston is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in July 1983, 43 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 Cultural & Community Center of Houston reported income of $598k and spending of $595k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $714k to $598k (-16%), an average of -4.3% a year. The sharpest change came in the year to December 2020, when income dropped by 29%. Over the whole period it spent 90% 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 & Community Center of Houston sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 77th percentile within TX. Charities of a similar size with the same main cause include Sinaca Studios ($598k), Friends of American Song Archives Inc ($598k) and Justice Committee Inc ($598k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $69k (12% of expenses). Other salaries and wages came to $148k. At year end it held assets of $1.7m against liabilities of $56k, net assets of $1.6m. It reported 6 employees.