ITALIAN AMERICAN MUSEUM (EIN 134178050) - Form 990 Financial Analysis & Trantor Score

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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

2001

Legal Domicile

Principal Officer

Joseph Scelsa

Phone

7189316935

Tax Period

2024-01-01 to 2024-12-31

ITALIAN AMERICAN MUSEUM, founded in 2001, is a small nonprofit in the Arts, Culture & Humanities sector that reported $714K in total revenue in fiscal year 2024. Revenue fell 75% from the prior year — a significant decline worth monitoring. Net assets of $5.8M represent 98 months of operating reserves.

Mission

MUSEUM TO PROMOTE ITALIAN CULTURE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $610,151

Program Service Revenue $0

Investment Income $6

Other Revenue $103,952

TOTAL REVENUE $714,109

Expense Breakdown

Grants Paid $0

Salaries & Benefits $163,921

Fundraising Expenses $0

Program Expenses $167,188

Other Expenses $591,769

TOTAL EXPENSES $755,690

Year-over-Year Comparison

	2024	2023	Change
Revenue	$714,109	$2,887,565	-0.8%
Expenses	$755,690	$592,180	+0.3%
Net Income	$-41,581	$2,295,385	-1.0%

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

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
Joseph Scelsa	President	100	Director	$0	$0	$0
Maria Fosco	Vice President	1	Director	$0	$0	$0
Eugene Limongelli	Vice President	1	Director	$0	$0	$0
Frank Delape	Board member	1	Director	$0	$0	$0
Christopher DiMattio	Board Member	1	Director	$0	$0	$0
Saverio Giarrusso	Board Member	1	Director	$0	$0	$0
Joseph Gioia	Board Member	1	Director	$0	$0	$0
Mario Giordano	Board Member	1	Director	$0	$0	$0
Ronald Mannino	Board Member	1	Director	$0	$0	$0
Frank Maselli	Board Member	1	Director	$0	$0	$0
Antonio Vendome	Board member	1	Director	$0	$0	$0

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	$714,109	$755,690	$7,589,458	$-41,581
2023	$2,887,565	$592,180	$7,647,079	$2,295,385
2022	$2,706,029	$230,178	$3,577,696	$2,475,851
2021	$276,113	$235,914	$1,101,845	$40,199
2020	$333,487	$241,267	$1,061,646	$92,220
2019	$556,377	$179,580	$969,426	$376,797
2018	$3,598,955	$252,719	$1,007,851	$3,346,236

ITALIAN AMERICAN MUSEUM