BETA

FOUNDATION FOR ITALIAN ART AND CULTURE: Form 990, tax year 2018

View the entire original 990 at ProPublica ↗

Organization
FOUNDATION FOR ITALIAN ART AND CULTURE (EIN 32-0081843)
Tax period
2018-01-01 to 2018-12-31
Filed
2019-11-05
IRS object ID
201943099349302454
Schema version
2018v3.1
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

FieldValueIRS element (for citing)
Return2019-11-05T15:23:09-06:00ReturnTs
Tax Period End2018-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN131655065PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1LUTZ AND CARR CPAS LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1551 FIFTH AVENUE SUITE 400AddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10176ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2018-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN320081843EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1FOUNDATION FOR ITALIAN ART AND CULTURE-BusinessNameLine1Txt
Business Name Line2C/O AMERICAN CONTINENTAL PROPERTIES LLCBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlFOUNBusinessNameControlTxt
Phone2129801755PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1460 PARK AVENUE 11TH FLOORAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10022ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonANGIE LOPersonNm
Person TitleTREASURERPersonTitleTxt
Phone2129801755PhoneNum
Signature2019-10-23SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonCHRIS BELLANDOPreparerPersonNm
PTINP00541714PTIN
Phone2126972299PhoneNum

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address38.142.140.186IPv4AddressTxt
FieldValueIRS element (for citing)
IP2019-10-23IPDt
IP Tm17:20:04IPTm
IP TimezoneEDIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device Id7EE24DDEAA34AFAE9DF92C3D2672F42BD3DA974DAtSubmissionCreationDeviceId
At Submission Filing Device Id5C2ECE50080656B913DA8B0FCF03D364AF8729F1AtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2018TaxYr
Build TS2020-03-31 21:24:44ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerANGIE LOPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1460 PARK AVENUE 11TH FLOORAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10022ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$248,681GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.FIACFOUNDATION.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2004FormationYr
Legal Domicile StateNYLegalDomicileStateCd
Activity Or MissionTO SPREAD ITALIAN CULTURE IN THE UNITED STATES.ActivityOrMissionDesc
Voting Members Governing Body14VotingMembersGoverningBodyCnt
Voting Members Independent13VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$235,556PYContributionsGrantsAmt
CY Contributions Grants$242,735CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$45PYInvestmentIncomeAmt
CY Investment Income$5,946CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$235,601PYTotalRevenueAmt
CY Total Revenue$248,681CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$64,993PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$64,993CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$4,210CYTotalFundraisingExpenseAmt
PY Other Expenses$143,916PYOtherExpensesAmt
CY Other Expenses$179,286CYOtherExpensesAmt
PY Total Expenses$208,909PYTotalExpensesAmt
CY Total Expenses$244,279CYTotalExpensesAmt
PY Revenues Less Expenses$26,692PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$4,402CYRevenuesLessExpensesAmt
Total Assets BOY$442,983TotalAssetsBOYAmt
Total Assets EOY$436,552TotalAssetsEOYAmt
Total Liabilities BOY$23,249TotalLiabilitiesBOYAmt
Total Liabilities EOY$12,416TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$419,734NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$424,136NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTO 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 Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$235,859ExpenseAmt
DescON MARCH 22, 2018, FIAC HOSTED THE 2017 FIAC EXCELLENCY AWARDS CEREMONY AND DINNER AT THE TENNIS AND RACQUET CLUB TO HONOR AWARD WINNERS: DR. PAOLA MARINI DIRECTOR, GALLERIE DELL'ACCADEMIA, VENICE, AND DR. IAN WARDROPPER DIRECTOR, THE FRICK COLLECTION, NEW YORK. THE EVENT FOLLOWED THE ANNUAL MEETING OF THE FIAC BOARD MEMBERS. FIAC CELEBRATED THE OPENING OF CAGNACCI'S CLEOPATRA AT THE CINCINNATI ART MUSEUM, OHIO ON MARCH 21, 2018. THE SHOW RAN FROM MARCH 21 - JULY 22, 2018. FIAC COLLABORATED ON OPERA ITALIANA IN CENTRAL PARK IN THE NAUMBERG BANDSHELL IN CENTRAL PARK ON JULY 2, 2018.FIAC WORKED WITH THE MORGAN LIBRARY, NEW YORK AND THE PAUL J. GETTY MUSEUM, CALIFORNIA TO PLAN FOR PONTORMO: MIRACULOUS ENCOUNTERS TO BE SHOWN IN SEPTEMBER 2018 AND 2019 AT THE RESPECTIVE INSTITUTIONS. FIAC WORKED WITH THE CINCINNATI ART MUSEUM, OHIO, THE WADSWORTH ATHENEUM, CONNECTICUT AND THE GALLERIE DELL'ACCADEMIA, VENICE TO PLAN FOR AN EXHIBIT OF GIORGIONE'S LA VECCHIA FOR FEBRUARY 2019. FIAC CONTINUED TO STRENGTHEN RELATIONSHIPS WITH MUSEUM DIRECTORS AND CURATORS IN ITALY AND THE UNITED STATES. FIAC PLANNED FOR EXHIBITS ON PONTORMO AND GIORGIONE IN 2019. FIAC PLANNED AND ORGANIZED FOR ITS 2018 EXCELLENCY AWARDS, TO BE HELD IN MARCH 2019.Desc
Total Program Service Expenses$235,859TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Temp Or Permanent Endowments0TempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With Officer Ent0BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document3IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members14GoverningBodyVotingMembersCnt
Independent Voting Member13IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc0RegularMonitoringEnfrcInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention Policy0DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldNYStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE ORGANIZATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2129801755PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1460 PARK AVENUE 11TH FLOORAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10022ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
ALAIN ELKANN
PRESIDENT1.00Yes (X)Yes (X)$0$0$0
AMB DANIELE BODINI
CHAIRMAN1.00Yes (X)Yes (X)$0$0$0
ANGIE LO
TREASURER1.00Yes (X)Yes (X)$0$0$0
OLIVIA D'APONTE
SECRETARY20.00Yes (X)Yes (X)$64,992$0$0
PROF GIULIANO URBANI
DIRECTOR1.00Yes (X)$0$0$0
WILLIAM B ACQUAVELLA
DIRECTOR1.00Yes (X)$0$0$0
TERRY ALLEN KRAMER
DIRECTOR1.00Yes (X)$0$0$0
JOSEPH PERELLA
DIRECTOR1.00Yes (X)$0$0$0
JOHN DYSON
DIRECTOR1.00Yes (X)$0$0$0
MASSIMO FERRAGAMO
DIRECTOR1.00Yes (X)$0$0$0
MARIO GABELLI
DIRECTOR1.00Yes (X)$0$0$0
LORENZO BINI-SMAGHI
DIRECTOR1.00Yes (X)$0$0$0
AMB ARMANDO VARRICCHIO
DIRECTOR1.00Yes (X)$0$0$0
AMB SERGIO VENTO
DIRECTOR1.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$64,992TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
All Other Contributions$242,735AllOtherContributionsAmt
Total Contributions$242,735TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$5,946TotalRevenueColumnAmt
Exclusion$5,946ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$248,681TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$5,946ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$64,993TotalAmt
Program Services$58,493ProgramServicesAmt
Management And General$3,250ManagementAndGeneralAmt
Fundraising$3,250FundraisingAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$86TotalAmt
Program Services$78ProgramServicesAmt
Management And General$4ManagementAndGeneralAmt
Fundraising$4FundraisingAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$2,472TotalAmt
Program Services$2,224ProgramServicesAmt
Management And General$124ManagementAndGeneralAmt
Fundraising$124FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$4,641TotalAmt
Program Services$4,177ProgramServicesAmt
Management And General$232ManagementAndGeneralAmt
Fundraising$232FundraisingAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$1,120TotalAmt
Program Services$1,008ProgramServicesAmt
Management And General$56ManagementAndGeneralAmt
Fundraising$56FundraisingAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$22,011TotalAmt
Program Services$21,503ProgramServicesAmt
Management And General$254ManagementAndGeneralAmt
Fundraising$254FundraisingAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$3,165TotalAmt
Program Services$2,849ProgramServicesAmt
Management And General$158ManagementAndGeneralAmt
Fundraising$158FundraisingAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
DIRECT PROGRAM EXPENSES$138,000$138,000
DINNER EVENT$5,148$5,148
WEBSITE$2,477$2,229$124$124
MISCELLANEOUS$147$133$7$7

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$19TotalAmt
Program Services$17ProgramServicesAmt
Management And General$1ManagementAndGeneralAmt
Fundraising$1FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$244,279TotalAmt
Program Services$235,859ProgramServicesAmt
Management And General$4,210ManagementAndGeneralAmt
Fundraising$4,210FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$437,427BOYAmt
EOY$436,552EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$5,556BOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$16,270LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$16,270LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$442,983BOYAmt
EOY$436,552EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$23,249BOYAmt
EOY$12,416EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$23,249BOYAmt
EOY$12,416EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$419,734BOYAmt
EOY$424,136EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$419,734BOYAmt
EOY$424,136EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$442,983BOYAmt
EOY$436,552EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$4,402ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS Audited0FSAuditedInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$209,698CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$190,916CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$225,000CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$235,556CurrentTaxYearMinus1YearAmt
Current Tax Year$242,735CurrentTaxYearAmt
Total$1,103,905TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$209,698CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$190,916CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$225,000CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$235,556CurrentTaxYearMinus1YearAmt
Current Tax Year$242,735CurrentTaxYearAmt
Total$1,103,905TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$794,889SubstantialContributorsTotAmt
Public Support Total170$309,016PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$35CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$41CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$46CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$45CurrentTaxYearMinus1YearAmt
Current Tax Year$5,946CurrentTaxYearAmt
Total$6,113TotalAmt
FieldValueIRS element (for citing)
Total Support$1,110,018TotalSupportAmt
Public Support CY1700.27840PublicSupportCY170Pct
Public Support PY1700.29490PublicSupportPY170Pct
Ten Pct Facts Crcmstncs Test CYYes (X)TenPctFactsCrcmstncsTestCYInd
Facts And Circumstances TestFOUNDATION FOR ITALIAN ART AND CULTURE'S PERCENTAGE OF PUBLIC SUPPORT IS 27.84% 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

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$16,270OtherCostOrOtherBasisAmt
Depreciation$16,270DepreciationAmt
Book Value$0BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BTHE 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 15NONE 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 19THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.