THE ITALIAN CENTER OF STAMFORD INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1933

Legal Domicile

Principal Officer

JONATHAN T HOCH SR

Phone

2033226941

Tax Period

2023-01-01 to 2023-12-31

THE ITALIAN CENTER OF STAMFORD INC, founded in 1933, is a community nonprofit that reported $7.7M in total revenue in fiscal year 2023.

Mission

CHARITABLE, RECREATIONAL, EDUCATIONAL AND CULTURAL FUNCTIONS

Program Service Accomplishments

Program 1

Expenses: $1,807,683

SUMMER CAMP AND PRESCHOOL - SUMMER CAMP FOR AGES 3 TO 12 YEARS OLD ALLOW YOUNG CHILDREN TO DEVELOP, GROW AND LEARN WHILE HAVING FUN. FULL AND HALF DAY PROGRAMS ARE OFFERED. THE FULLY LICENSED...

SUMMER CAMP AND PRESCHOOL - SUMMER CAMP FOR AGES 3 TO 12 YEARS OLD ALLOW YOUNG CHILDREN TO DEVELOP, GROW AND LEARN WHILE HAVING FUN. FULL AND HALF DAY PROGRAMS ARE OFFERED. THE FULLY LICENSED PRESCHOOL PROVIDES 3 AND 4 YEAR OLD CHILDREN WITH A GREAT ENVIROMENT FOR BOTH LEARNING AND PLAY.

Program 2

Expenses: $1,839,857

BANQUET AND CENTER FUNCTIONS

Program 3

Expenses: $2,259,539

ATHLETIC AND RECREATIONAL PROGRAMS - THE ITALIAN CENTER PROVIDES A VARIETY OF ATHLETIC AND RECREATIONAL PROGRAMS...SWIM LESSONS, EXERCISE AND TRAINING CLASSES, AFTER SCHOOL PROGRAMS FOR CHILDREN...

ATHLETIC AND RECREATIONAL PROGRAMS - THE ITALIAN CENTER PROVIDES A VARIETY OF ATHLETIC AND RECREATIONAL PROGRAMS...SWIM LESSONS, EXERCISE AND TRAINING CLASSES, AFTER SCHOOL PROGRAMS FOR CHILDREN, TENNIS CLINICS AND LESSONS, PLATFORM TENNIS CLINICS. PROGRAMS ARE PROVIDED THROUGHOUT THE YEAR. TOTAL PROGRAM PARTICIPATION WAS 2,800 MEMBERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,517,919

Program Service Revenue $4,282,162

Investment Income $70,604

Other Revenue $-208,100

TOTAL REVENUE $7,662,585

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,096,451

Fundraising Expenses $0

Program Expenses $5,907,079

Other Expenses $3,455,341

TOTAL EXPENSES $7,551,792

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,662,585	$7,270,920	+0.1%
Expenses	$7,551,792	$6,575,183	+0.1%
Net Income	$110,793	$695,737	-0.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

270

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFREY J SALVATORE	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL A MACRI	DIRECTOR	2.00	Director	$0	$0	$0
DR MICHAEL L SABIA JR	DIRECTOR	2.00	Director	$0	$0	$0
MANUEL W VETTI JR	DIRECTOR	2.00	Director	$0	$0	$0
CARMINE V LONGO JR	DIRECTOR	2.00	Director	$0	$0	$0
VINCENT ROSA	DIRECTOR	2.00	Director	$0	$0	$0
LOUIS CAVALIERE	DIRECTOR	2.00	Director	$0	$0	$0
GINA BLUM	DIRECTOR	2.00	Director	$0	$0	$0
JACKIE CAMERON	DIRECTOR	2.00	Director	$0	$0	$0
EVAN CORSELLO	DIRECTOR	2.00	Director	$0	$0	$0
MATTHEW RENDE	DIRECTOR	2.00	Director	$0	$0	$0
JAMES RUBINO	DIRECTOR	2.00	Director	$0	$0	$0
CRISTINA ANDREANA	DIRECTOR	2.00	Director	$0	$0	$0
JOSEPH COPPOLA	DIRECTOR	2.00	Director	$0	$0	$0
CHRIS GAROZZO	DIRECTOR	2.00	Director	$0	$0	$0
JOSEPH J FIORITO	SECOND VICE PRESIDENT	2.00	Officer	$0	$0	$0
MARIO P MUSILLI	PRESIDENT	2.00	Officer	$0	$0	$0
MATTHEW V SHOZTIC	FIRST VICE PRESIDENT	2.00	Officer	$0	$0	$0
ADRIANNA ROSNER	SECRETARY	2.00	Officer	$0	$0	$0
ALAN EDWARDS	TREASURER	2.00	Officer	$0	$0	$0
JONATHAN HOCH	EXECUTIVE DIRECTOR	40.00	Highest	$179,591	$0	$179,591
CHRIS MARRERO	CATERING DIRECTOR	40.00	Highest	$102,908	$0	$102,908

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$7,662,585	$7,551,792	$9,713,935	$110,793
2022	$7,270,920	$6,575,183	$9,541,565	$695,737
2021	$5,837,819	$5,349,882	$8,865,529	$487,937
2020	$3,304,149	$4,754,478	$7,452,060	$-1,450,329
2019	$6,321,562	$6,328,300	$7,563,569	$-6,738
2018	$3,906,819	$5,268,139	$8,137,171	$-1,361,320