GREATER ROCKFORD ITALIAN AMERICAN … - Form 990 Financial Data

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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

1980

Legal Domicile

Principal Officer

BRIANNE CANOVA

Phone

8153786833

Tax Period

2024-01-01 to 2024-12-31

GREATER ROCKFORD ITALIAN AMERICAN ASSOCIATION, founded in 1980, is a micro nonprofit in the Recreation & Sports sector that reported $56K in total revenue in fiscal year 2024. The organization ran a surplus of $31K, a strong 55% operating margin.

Mission

A NON-PROFIT ORGANIZATION HEADED AND STAFFED SOLELY BY VOLUNTEERS, THE GREATER ROCKFORD ITALIAN AMERICAN ASSOCIATION (GRIAA) SERVES AS A CONSERVATORY OF ITALIAN CULTURE AND TRADITIONS. IT PROVIDES THE COMMUNITY AND OPPORTUNITY TO EXPERIENCE THE CUSTOMS AND TRADITIONS OF ITALY FIRSTHAND BY PARTICIPATING IN A VARIETY OF EDUCATIONAL PROGRAMS AND PUBLIC EVENTS PROVIDED BY OUR GRIAA COMMITTEES.

Program Service Accomplishments

Program 1

Expenses: $15,000

PROVIDING SCHOLARSHIPS TO STUDENTS OF GRADE SCHOOLS AND STUDENTS OF HIGH SCHOOL LEVELS. OVER THE LAST 46 YEARS, $814,500 TOWARDS SCHOLARSHIPS HAVE BEEN AWARDED TO 85 UNIVERSITY STUDENTS, 715 HIGH...

PROVIDING SCHOLARSHIPS TO STUDENTS OF GRADE SCHOOLS AND STUDENTS OF HIGH SCHOOL LEVELS. OVER THE LAST 46 YEARS, $814,500 TOWARDS SCHOLARSHIPS HAVE BEEN AWARDED TO 85 UNIVERSITY STUDENTS, 715 HIGH SCHOOL STUDENTS, AND 752 ELEMENTARY STUDENTS FROM THE ROCKFORD COMMUNITY.

Program 2

Expenses: $4,372

EVENTS TO PROMOTE ITALIAN AMERICAN CULTURE INCLUDING NEWSLETTERS, SUPPORT OF VARIOUS LITURGICAL SERVICES, AND ROCKFORD ITALIAN HALL OF FAME.

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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 $8,840

Program Service Revenue $0

Investment Income $4,027

Other Revenue $43,513

TOTAL REVENUE $56,380

Expense Breakdown

Grants Paid $15,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $19,372

Other Expenses $10,354

TOTAL EXPENSES $25,354

Year-over-Year Comparison

	2024	2023	Change
Revenue	$56,380	$53,601	+0.1%
Expenses	$25,354	$21,569	+0.2%
Net Income	$31,026	$32,032	0.0%

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

N/A

Volunteers

250

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
MIKE MAFFIOLI	CHAIR	1.00	Officer Director	$0	$0	$0
KAREN CANTELE	CO-CHAIR	1.00	Officer Director	$0	$0	$0
BRIANNE CANOVA	TREASURER	1.00	Officer Director	$0	$0	$0
MIKE DOYLE	SECRETARY	1.00	Officer Director	$0	$0	$0
CARL AMBRUOSO	DIRECTOR	1.00	Director	$0	$0	$0
PAUL ARCO	DIRECTOR	1.00	Director	$0	$0	$0
VALERI DECASTRIS	DIRECTOR	1.00	Director	$0	$0	$0
VICKIE DOMBROWSKI LOCASCIO	DIRECTOR	1.00	Director	$0	$0	$0
JOHNNY FANDEL	DIRECTOR	1.00	Director	$0	$0	$0
MICHELE FANDEL	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE FOSBERG	DIRECTOR	1.00	Director	$0	$0	$0
ANNA MIRABILE	DIRECTOR	1.00	Director	$0	$0	$0
RENEE MARKESE NAGEL	DIRECTOR	1.00	Director	$0	$0	$0
JOY ZINNA PARLAPIANO	DIRECTOR	1.00	Director	$0	$0	$0
FRANK PERRECONE	DIRECTOR	1.00	Director	$0	$0	$0
BEATRICE RICOTTA	DIRECTOR	1.00	Director	$0	$0	$0
STEPHANIE RICOTTA	DIRECTOR	1.00	Director	$0	$0	$0
PAMELA SALADINO	DIRECTOR	1.00	Director	$0	$0	$0
STEVE SALVATO	DIRECTOR	1.00	Director	$0	$0	$0
ROSIE SCALISE-SHERIDAN	DIRECTOR	1.00	Director	$0	$0	$0
JASPER ST ANGEL	DIRECTOR	1.00	Director	$0	$0	$0
PAULINE URSO	DIRECTOR	1.00	Director	$0	$0	$0
FRANK VALENTINE	DIRECTOR	1.00	Director	$0	$0	$0
JAY VILLANI	DIRECTOR	1.00	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	$56,380	$25,354	$230,040	$31,026
2023	$53,601	$21,569	$198,514	$32,032
2022	$19,049	$15,915	$164,691	$3,134
2021	$31,573	$16,002	$167,466	$15,571
2019	$29,853	$21,431	$168,816	$8,422
2018	$13,611	$11,278	$146,500	$2,333

GREATER ROCKFORD ITALIAN AMERICAN ASSOCIATION