Friends of the Italian Cultural Ce… - 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

2012

Legal Domicile

Principal Officer

Ettore Santucci

Phone

6175701531

Tax Period

2020-01-01 to 2020-12-31

Friends of the Italian Cultural Center of Boston Inc c/o Goodwin Procter LLP, founded in 2012, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $3K in total revenue in fiscal year 2020. Revenue fell 68% from the prior year — a significant decline worth monitoring. Expenses of $4K exceeded revenue, resulting in a 26% operating deficit.

Mission

The venue will be symbolic for Italians in Boston, a crossroad where tradition and innovation converge. The Center will be open every day and will collaborate closely with the Consulate General of Italy in Boston, with the Italian and Italian-American community, with Italian and Italian-American associations, with universities, colleges and other Boston-based non-profit cultural organizations, with local authorities, as well as with Italian museums, foundations, and cultural centers.The Cultural Center will organize and host events, cultural exchanges, exhibitions, conferences, Italian language courses, film festivals, presentations of companies, cooking classes, fashion shows, and every initiative that will bring the community closer to Italy.

Program Service Accomplishments

Program 1

Expenses: $1,225

To promote the study of the Italian language and Italian Cultural Events

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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 (2020)

Revenue Breakdown

Contributions & Grants $100

Program Service Revenue $0

Investment Income $3,298

Other Revenue $0

TOTAL REVENUE $3,398

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,225

Other Expenses $4,268

TOTAL EXPENSES $4,268

Year-over-Year Comparison

	2020	2019	Change
Revenue	$3,398	$10,671	-0.7%
Expenses	$4,268	$31,541	-0.9%
Net Income	$-870	$-20,870	-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

N/A

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	Role	Reportable Comp	Other Comp	Total
Ettore Santucci	President	Officer Director	$0	$0	$0
Ettore Santucci	Treasurer	Officer Director	$0	$0	$0
Anthony Pangaro	Clerk	Officer Director	$0	$0	$0
Anthony Pangaro	Director	Director	$0	$0	$0
Emilio Bizzi	Director	Director	$0	$0	$0
Ettore Santucci	Director	Director	$0	$0	$0
Susan Angelastro	Director	Director	$0	$0	$0
Anna di Robilant	Director	Director	$0	$0	$0
Dante Roscini	Director	Director	$0	$0	$0
Elisabetta Vitali	Director	Director	$0	$0	$0
Joe Selvaggi	Director	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
2020	$3,398	$4,268	$511,833	$-870
2019	$10,671	$31,541	$512,703	$-20,870
2018	$9,338	$25,777	$533,573	$-16,439

Friends of the Italian Cultural Center of Boston Inc c/o Goodwin Procter LLP