FOUNDATION FOR ITALIAN ART AND CULTURE: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- FOUNDATION FOR ITALIAN ART AND CULTURE (EIN 32-0081843)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-10-19
- IRS object ID
- 202302929349301600
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-10-19T13:59:19-05:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 131655065 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LUTZ AND CARR CPAS LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 551 FIFTH AVENUE SUITE 400 | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10176 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 320081843 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FOUNDATION FOR ITALIAN ART AND CULTURE- | BusinessNameLine1Txt |
| Business Name Line2 | C/O AMERICAN CONTINENTAL PROPERTIES LLC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FOUN | BusinessNameControlTxt |
| Phone | 2129801755 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 460 PARK AVENUE 11TH FLOOR | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10022 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ANGIE LO | PersonNm |
| Person Title | TREASURER | PersonTitleTxt |
| Phone | 2129801755 | PhoneNum |
| Signature | 2023-10-18 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | ANGIE | PersonFirstNm |
| Person Last | LO | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | CHRIS BELLANDO | PreparerPersonNm |
| PTIN | P00541714 | PTIN |
| Phone | 2126972299 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ANGIE LO | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 460 PARK AVENUE 11TH FLOOR | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10022 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $295,183 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.FIACFOUNDATION.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2004 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | TO SPREAD ITALIAN CULTURE IN THE UNITED STATES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 11 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 11 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $48,750 | PYContributionsGrantsAmt |
| CY Contributions Grants | $289,484 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $57 | PYInvestmentIncomeAmt |
| CY Investment Income | $5,699 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $48,807 | PYTotalRevenueAmt |
| CY Total Revenue | $295,183 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $47,416 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $68,700 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $4,355 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $73,898 | PYOtherExpensesAmt |
| CY Other Expenses | $128,644 | CYOtherExpensesAmt |
| PY Total Expenses | $121,314 | PYTotalExpensesAmt |
| CY Total Expenses | $197,344 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$72,507 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $97,839 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $407,893 | TotalAssetsBOYAmt |
| Total Assets EOY | $510,196 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $12,867 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $17,331 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $395,026 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $492,865 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO SPREAD ITALIAN CULTURE IN UNITED STATES BY ORGANIZING EXHIBITIONS, SHOWS, DISPLAYS OF PAITNTINGS, SCULPTURES AND OTHER VISUAL ARTS IN THE UNITED STATES AND PROMOTING THE RESTORATION OF WORKS OF ART IN ITALY IN ORDER TO PRESERVE AND PROMOTE ITALIAN CULTURE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $188,631 | ExpenseAmt |
| Desc | FIAC CONTINUED TO WORK TOWARD ESTABLISHING NEW PARTNERSHIPS AND PROGRAMS FOR THE FUTURE. FIAC AGREED TO RESTORE THE UMBERTO BOCCIONI SCULPTURE, DYNAMISM OF A SPEEDING HOUSE + HORSES, 1915 AT THE PEGGY GUGGENHEIM MUSEUM IN VENICE, IN 2023.ON APRIL 25, 2022, FIAC PRESENTED ITALIAN MASTERPIECES, A RETROSPECTIVE BOOK WHICH CELEBRATES THE EXHIBITIONS AND PROGRAMS OF THE LAST FIFTEEN YEARS. IT TOOK PLACE AT THE ITALIAN CULTURAL INSTITUTE AND FEATURED A DIALOGUE BETWEEN ALAIN ELKANN, PRESIDENT OF FIAC AND PROF. FABIO FINOTTI, DIRECTOR OF THE ITALIAN CULTURAL INSTITUTE. FIAC BOARD MEMBERS, NY MUSEUM DIRECTORS AND MANY COLLEAGUES AND FRIENDS WERE IN ATTENDANCE. ON WEDNESDAY, APRIL 27, THE BOARD OF DIRECTORS HELD THEIR ANNUAL MEETING AT THE OFFICES AT 112 E. 71ST STREET AT 6PM AND HOSTED THE 2021 FIAC EXCELLENCY AWARDS CEREMONY AND DINNER AT THE TENNIS AND RACQUET CLUB TO HONOR AWARD WINNER: PROF. MASSIMO OSANNA, DIRECTORATE OF ITALIAN MUSEUMS, ITALY. IN JUNE 2022, OLIVIA D'APONTE, FIAC'S EXECUTIVE DIRECTOR PARTICIPATED IN ITALIAN HOURS AND AMERICAN DAYS OF CULTURAL HERITAGE AT THE IMT SCHOOL FOR ADVANCED STUDIES IN LUCCA, ITALY, VIA ZOOM, WHERE SPEAKERS PRESENTED ON THE TOPICS OF US MUSEUMS, CULTURAL HERITAGE, ART AUTHENTICITY AMONG OTHERS. THE PARTICIPATION ALLOWED FIAC A NEW NETWORK OF CULTURAL HERITAGE EXPERTS. FIAC HELPED SPONSOR OPERA ITALIANA AT THE NAUMBERG BANDSHELL IN CENTRAL PARK, A FREE CONCERT HELD ON JUNE 27 , 2022 IN NEW YORK. FIAC REACHED OUT AND ESTABLISHED RELATIONSHIPS WITH NEWLY APPOINTED CULTURAL MINISTERS IN ITALY IN THE FALL OF 2022.FIAC PREPARED AND PLANNED FOR THE 2022 FIAC EXCELLENCY AWARDS CEREMONY DINNER TO BE HELD AT THE TENNIS AND RACQUET CLUB IN 2023. | Desc |
| Total Program Service Expenses | $188,631 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 4 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 11 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | 0 | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE ORGANIZATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2129801755 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 460 PARK AVENUE 11TH FLOOR | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10022 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| ALAIN ELKANN | ||||||
| PRESIDENT | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| AMB DANIELE BODINI | ||||||
| CHAIRMAN | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| ANGIE LO | ||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| WILLIAM B ACQUAVELLA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| FRANCESCA BODINI | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| CARLO CLAVERINO | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JOHN DYSON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MASSIMO FERRAGAMO | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MARIO GABELLI | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DONNA PATRIZIA MEMMO RUSPOLI | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JOSEPH PERELLA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| OLIVIA D'APONTE | ||||||
| EXECUTIVE DIRECTOR | 20.00 | Yes (X) | Yes (X) | $68,700 | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $68,700 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $289,484 | AllOtherContributionsAmt |
| Total Contributions | $289,484 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,699 | TotalRevenueColumnAmt |
| Exclusion | $5,699 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $295,183 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $5,699 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $68,700 | TotalAmt |
| Program Services | $61,830 | ProgramServicesAmt |
| Management And General | $3,435 | ManagementAndGeneralAmt |
| Fundraising | $3,435 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,756 | TotalAmt |
| Program Services | $5,180 | ProgramServicesAmt |
| Management And General | $288 | ManagementAndGeneralAmt |
| Fundraising | $288 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,131 | TotalAmt |
| Program Services | $6,418 | ProgramServicesAmt |
| Management And General | $357 | ManagementAndGeneralAmt |
| Fundraising | $356 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $605 | TotalAmt |
| Program Services | $544 | ProgramServicesAmt |
| Management And General | $30 | ManagementAndGeneralAmt |
| Fundraising | $31 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,510 | TotalAmt |
| Program Services | $38,251 | ProgramServicesAmt |
| Management And General | $129 | ManagementAndGeneralAmt |
| Fundraising | $130 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,233 | TotalAmt |
| Program Services | $2,010 | ProgramServicesAmt |
| Management And General | $112 | ManagementAndGeneralAmt |
| Fundraising | $111 | FundraisingAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| DIRECT PROGRAM EXPENSES | $69,000 | $69,000 | $0 | $0 |
| DINNER EVENT | $5,286 | $5,286 | $0 | $0 |
| MISCELLANEOUS | $123 | $112 | $7 | $4 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $197,344 | TotalAmt |
| Program Services | $188,631 | ProgramServicesAmt |
| Management And General | $4,358 | ManagementAndGeneralAmt |
| Fundraising | $4,355 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $406,720 | BOYAmt |
| EOY | $509,022 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,173 | BOYAmt |
| EOY | $1,174 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $16,270 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $16,270 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $407,893 | BOYAmt |
| EOY | $510,196 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,867 | BOYAmt |
| EOY | $17,331 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,867 | BOYAmt |
| EOY | $17,331 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $395,026 | BOYAmt |
| EOY | $492,865 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $395,026 | BOYAmt |
| EOY | $492,865 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $407,893 | BOYAmt |
| EOY | $510,196 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $97,839 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | Yes (1) | AccountantCompileOrReviewInd |
Acct Compile Or Review Basis AcctCompileOrReviewBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| FS Audited | 0 | FSAuditedInd |
| Audit Committee | 0 | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $242,735 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $248,095 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $207,800 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $48,750 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $289,485 | CurrentTaxYearAmt |
| Total | $1,036,865 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $242,735 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $248,095 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $207,800 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $48,750 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $289,485 | CurrentTaxYearAmt |
| Total | $1,036,865 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $787,778 | SubstantialContributorsTotAmt |
| Public Support Total170 | $249,087 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $5,946 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $6,828 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,415 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $57 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,699 | CurrentTaxYearAmt |
| Total | $21,945 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $1,058,810 | TotalSupportAmt |
| Public Support CY170 | 0.23530 | PublicSupportCY170Pct |
| Public Support PY170 | 0.19450 | PublicSupportPY170Pct |
| Ten Pct Facts Crcmstncs Test CY | Yes (X) | TenPctFactsCrcmstncsTestCYInd |
| Facts And Circumstances Test | FOUNDATION FOR ITALIAN ART AND CULTURE'S PERCENTAGE OF PUBLIC SUPPORT IS 23.53% HOWEVER, FOUNDATION FOR ITALIAN ART AND CULTURE'S PUBLIC SUPPORT IS MORE THAN 10% OF ITS TOTAL SUPPORT. IT HAS A SOLICITATION PLAN FOR ATTRACTING PUBLIC SUPPORT AND HAS A BROAD, REPRESENTATIVE GOVERNING BODY. ITS PROGRAM SERVICES DIRECTLY BENEFIT THE GENERAL PUBLIC. THEREFORE, FOUNDATION FOR ITALIAN ART AND CULTURE QUALIFIES FOR NON-PRIVATE FOUNDATION STATUS UNDER THE FACTS AND CIRCUMSTANCES TEST OF IRC SEC 170(B)(1)(A)(VI). | FactsAndCircumstancesTestTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $8,158 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,158 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $8,112 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,112 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE AUDIT COMMITTEE OF THE BOARD REVIEWS THE 990 PRIOR TO FILING. THE BOARD OF DIRECTORS IS THEN INFORMED THAT THE 990 IS AVAILABLE FOR REVIEW. |
| FORM 990, PART VI, SECTION B, LINE 15 | NONE OF THE BOARD MEMBERS NOR OFFICERS ARE COMPENSATED. CURRENTLY, ONLY ONE CONSULTANT IS HIRED WHOSE COMPENSATION IS DETERMINED BY THE CHAIRMAN AND THE PRESIDENT. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
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