2022-09-08T16:21:59-05:00 2021-12-31 131655065 LUTZ AND CARR CPAS LLP 551 FIFTH AVENUE SUITE 400 NEW YORK NY 10176 990 2021-01-01 320081843 FOUNDATION FOR ITALIAN ART AND CULTURE- C/O AMERICAN CONTINENTAL PROPERTIES LLC FOUN 2129801755 460 PARK AVENUE 11TH FLOOR NEW YORK NY 10022 ANGIE LO TREASURER 2129801755 2022-09-08 1 ANGIE LO 999009999 CHRIS BELLANDO P00541714 2126972299 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z ANGIE LO 460 PARK AVENUE 11TH FLOOR NEW YORK NY 10022 48807 0 X WWW.FIACFOUNDATION.ORG X 2004 NY TO SPREAD ITALIAN CULTURE IN THE UNITED STATES. 11 10 0 10 0 0 207800 48750 0 0 3415 57 0 0 211215 48807 0 0 0 0 64992 47416 0 0 3649 104128 73898 169120 121314 42095 -72507 479949 407893 12416 12867 467533 395026 X 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. 0 0 114017 IN OCTOBER 2021, FIAC PUBLISHED ITALIAN MASTERPIECES, A RETROSPECTIVE BOOK WHICH CELEBRATES THE EXHIBITIONS AND PROGRAMS OF THE LAST FIFTEEN YEARS. WE REQUESTED AND COMPILED ESSAYS FROM RENOWNED CURATORS AND MUSEUM DIRECTORS OVER THE YEAR AND PROCURED AND GAINED PERMISSION FOR USE OF BEAUTIFUL ILLUSTRATIONS IN THE BOOK BEGINNING IN SPRING 2020. THE BOOK WAS PROMOTED DURING 2021 TO THE BOARD AND TO FRIENDS OF FIAC. THE PRESENTATION OF THE BOOK WAS DELAYED FOR 2022. FIAC PREPARED AND PLANNED FOR THE 2021 FIAC EXCELLENCY AWARDS CEREMONY DINNER TO BE HELD AT THE TENNIS AND RACQUET CLUB IN 2022. FIAC RESUMED PLANNING AND PREPARATION FOR FUTURE EXHIBITIONS TO BE HELD IN NEW YORK AND TEXAS IN 2023. 114017 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 1 1 0 NY X THE ORGANIZATION 2129801755 460 PARK AVENUE 11TH FLOOR NEW YORK NY 10022 ALAIN ELKANN PRESIDENT 1.00 X X 0 0 0 AMB DANIELE BODINI CHAIRMAN 1.00 X X 0 0 0 ANGIE LO TREASURER 1.00 X X 0 0 0 OLIVIA D'APONTE EXECUTIVE DIRECTOR 20.00 X X 47416 0 0 WILLIAM B ACQUAVELLA DIRECTOR 1.00 X 0 0 0 CARLO CLAVERINO DIRECTOR 1.00 X 0 0 0 JOHN DYSON DIRECTOR 1.00 X 0 0 0 MASSIMO FERRAGAMO DIRECTOR 1.00 X 0 0 0 MARIO GABELLI DIRECTOR 1.00 X 0 0 0 DONNA PATRIZIA MEMMO RUSPOLI DIRECTOR 1.00 X 0 0 0 JOSEPH PERELLA DIRECTOR 1.00 X 0 0 0 47416 0 0 0 0 0 0 0 48750 48750 57 57 48807 0 0 57 47416 42674 2371 2371 4597 4137 230 230 9829 8847 491 491 2329 2097 116 116 459 413 23 23 3231 2827 202 202 4008 3606 201 201 DIRECT PROGRAM EXPENSES 49144 49144 MISCELLANEOUS 220 199 10 11 DUES AND SUBSCRIPTIONS 81 73 4 4 121314 114017 3648 3649 479019 406720 1173 16270 16270 0 0 930 0 479949 407893 12416 12867 12416 12867 X 467533 395026 467533 395026 479949 407893 -72507 0 X 0 0 0 X 235556 242735 248095 207800 48750 982936 235556 242735 248095 207800 48750 982936 788569 194367 45 5946 6828 3415 57 16291 999227 0.19450 0.20910 X FOUNDATION FOR ITALIAN ART AND CULTURE'S PERCENTAGE OF PUBLIC SUPPORT IS 19.45% 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). RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8158 8158 0 8112 8112 0 0 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.