Italian Cultural Society

Analysis

Italian Cultural Society is a registered charity in United States, based in Carmichael, CA. It received its IRS tax-exemption ruling in August 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, Italian Cultural Society reported income of $244k and spending of $235k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $255k to $244k (-4.6%), an average of -1.2% a year. The sharpest change came in the year to December 2023, when income rose by 59%. Over the whole period it spent 106% 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 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 60th percentile within CA. Charities of a similar size with the same main cause include New Visions for Butler ($244k), South River Watershed Alliance ($244k) and Shinbig Inc ($244k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.5% and program service revenue 93% of the total. Other salaries and wages came to $79k. At year end it held assets of $1.0m against liabilities of $0, net assets of $1.0m. It reported 7 employees.