FRIENDS OF FAI - THE ITALIAN ENVIRONMENT FOUNDATION INC

EIN: 133599581 501(c)(3)

NEW YORK, NY

Total Revenue
$843,940
Total Expenses
$826,166
Total Assets
$272,871
Net Assets
$238,145
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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
1990
Legal Domicile
DE
Principal Officer
JAMES M CAROLAN
Phone
2122423377
Tax Period
2023-01-01 to 2023-12-31

FRIENDS OF FAI - THE ITALIAN ENVIRONMENT FOUNDATION INC, founded in 1990, is a small nonprofit that reported $844K in total revenue in fiscal year 2023. Revenue fell 23% from the prior year — a significant decline worth monitoring.

Mission

FOSTER DEEPER U.S. APPRECIATION FOR THE PRESERVATION OF ITALIAN CULTURE AND HISTORICAL HERITAGE

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $760,350
Program Service Revenue $83,590
Investment Income $0
Other Revenue $0
TOTAL REVENUE $843,940

Expense Breakdown

Grants Paid $612,000
Salaries & Benefits $147,238
Fundraising Expenses $37,288
Program Expenses $750,066
Other Expenses $66,449
TOTAL EXPENSES $826,166

Year-over-Year Comparison

2023 2022 Change
Revenue $843,940 $1,097,843 -0.2%
Expenses $826,166 $1,145,555 -0.3%
Net Income $17,774 $-47,712 -1.4%
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

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Governance

Voting Members
10
Independent Members
10
Employees
1
Volunteers
10

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
4
$137,070
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES M CAROLAN PRESIDENT 8.00
Officer Director
$0 $0 $0
SHARLEEN COOPER COHEN VICE-PRESIDENT 2.00
Officer Director
$0 $0 $0
CHIARA DEREGE BOARD MEMBER 1.00
Director
$0 $0 $0
DAVIDE USAI BOARD MEMBER 1.00
Director
$0 $0 $0
BONA DE FRESCOBALDI BOARD MEMBER 1.00
Director
$0 $0 $0
CELINE CROSA DI VERGAGNI SECRETARY 1.00
Officer Director
$0 $0 $0
CLARICE PECORI GIRALDI BOARD MEMBER 1.00
Director
$0 $0 $0
VICTORIA JAMES BOARD MEMBER 1.00
Director
$0 $0 $0
LAUREL BARRACK BOARD MEMBER 1.00
Director
$0 $0 $0
MICHELE EDDIE BOARD MEMBER 1.00
Director
$0 $0 $0
AMANDA KUTNER EXECUTIVE DIRECTOR 40.00
Officer
$120,750 $16,320 $137,070
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 $843,940 $826,166 $272,871 $17,774
2022 $1,097,843 $1,145,555 $249,793 $-47,712
2021 $374,758 $399,455 $291,989 $-24,697
2020 $1,176,365 $1,023,793 $1,137,249 $152,572
2019 $457,755 $455,138 $147,330 $2,617
2018 $462,226 $592,458 $149,467 $-130,232
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