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)

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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

THE MISSION OF FRIENDS OF FAI IS TO FOSTER IN THE UNITED STATES A DEEPER APPRECIATION OF AND SUPPORT FOR THE PRESERVATION OF ITALIAN CULTURAL AND HISTORICAL HERITAGE REFLECTED IN BUILDINGS AND PROPERTIES OF ARCHITECTURAL AND ENVIRONMENTAL SIGNIFICANCE LOCATED IN ITALY.

Program Service Accomplishments

Program 1
Expenses: $750,066 Revenue: $83,590

FRIENDS OF FAI ORGANIZES UNIQUE EVENTS, CONFERENCES AND TRIPS FOR THOSE WHO WISH TO HELP FRIENDS OF FAI ACHIEVE ITS MISSION. IT ALSO PROVIDES ITS MEMBERS WITH ADVANCED INFORMATION SO THAT THEY CAN...

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FRIENDS OF FAI ORGANIZES UNIQUE EVENTS, CONFERENCES AND TRIPS FOR THOSE WHO WISH TO HELP FRIENDS OF FAI ACHIEVE ITS MISSION. IT ALSO PROVIDES ITS MEMBERS WITH ADVANCED INFORMATION SO THAT THEY CAN PARTICIPATE IN FRIENDS OF FAI'S ACTIVITIES ON A PRIORITY BASIS. MEMBERS OF FRIENDS OF FAI ARE ABLE TO ACCESS THE VERY BEST OF WHAT ITALY'S CULTURE AND ART HAVE TO OFFER THROUGH THE MANY PERSONAL CONTACTS AND SOURCES THAT ARE AVAILABLE TO FRIENDS OF FAI.SINCE 2001, FRIENDS OF FAI HAS ORGANIZED MANY SPECIAL TRIPS FOR ITS MEMBERS WHICH HAVE INCLUDED VISITS TO: NORTHERN ITALY, SICILY, A TOUR OF FAI'S PROPERTIES IN AND AROUND MILAN, ROME, A SPRING TOUR OF VENETO, A TOUR OF PARMA AND PIACENZA, A TOUR OF GENOA AND THE PORTOFINO, AND TRIESTE AND VENICE.EVERY YEAR FRIENDS OF FAI ORGANIZES CULTURAL ACTIVITIES IN THE UNITED STATES INCLUDING CONFERENCES, SEMINARS, EXHIBITS AND CONCERTS FOR THE PURPOSE OF INFORMING THE PUBLIC OF AND PROMOTING OUR MISSION.

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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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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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