ITALIAN CULTURAL SOCIETY

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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

1981

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

ITALIAN CULTURAL SOCIETY, founded in 1981, is a small nonprofit in the Arts, Culture & Humanities sector that reported $244K in total revenue in fiscal year 2023. Revenue surged 59% from the prior year, signaling strong growth momentum. Expenses of $235K left a modest 4% surplus.

Mission

TO PROMOTE AND SPONSOR ACTIVITIES THAT FACTOR AWARENESS OF APRECIATION OF THE ITALIAN AMERICAN CUTURAL EXPERIENCE

Program Service Accomplishments

Program 1

Expenses: $118,585 Revenue: $99,866

OTHER PROGRAM SERVICES PROMOTING HERITAGE CONCEPTS THROUGH MOVIES SEMINARS DANCE GROUPS TRADITIONAL CUSTOMS AND LIBRARY

Program 2

Expenses: $97,863 Revenue: $126,303

LANGUAGE CLASSES - TEACHING THE ITALIAN LANGUAGE

Program 3

FESTA ITALIANA - THIS IS AN ITALIAN AMERICAN CULTURAL FESTIVAL FEATURING ITALIAN AND ITALIAN-AMERICAN DANCING, MUSIC,FOOD AND OTHER ASPECTS OF ITALIAN AND ITALIAN-AMERICAN CULTURAL 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $15,903

Program Service Revenue $226,025

Investment Income $1,727

Other Revenue $0

TOTAL REVENUE $243,655

Expense Breakdown

Grants Paid $0

Salaries & Benefits $85,695

Fundraising Expenses $0

Program Expenses $216,448

Other Expenses $149,276

TOTAL EXPENSES $234,971

Year-over-Year Comparison

	2023	2022	Change
Revenue	$243,655	$152,915	+0.6%
Expenses	$234,971	$166,164	+0.4%
Net Income	$8,684	$-13,249	-1.7%

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

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
NICK BLOISE	7-DIRECTOR	1.00	Director	$0	$0	$0
DIANE MARTIN	6-DIRECTOR	1.00	Director	$0	$0	$0
ADRIANA STEPHENS	9-DIRECTOR	1.00	Director	$0	$0	$0
DREW CAPRILE	8-DIRECTOR	1.00	Director	$0	$0	$0
DOMINICK ADORNO	5-DIRECTOR	1.00	Director	$0	$0	$0
PATTY PETER	2-VICE PRESIDENT-DIRECTOR	1.00	Officer Director	$0	$0	$0
BILL C CERRUTI	1-PRESIDENT-DIRECTOR	10.00	Officer Director	$0	$0	$0
DORIS BECKET	4-SECRATARY-DIRECTOR	1.00	Officer Director	$0	$0	$0
WILLIAM GIOVANETTI	3-TREASURER-DIRECTOR	4.00	Officer 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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$243,655	$234,971	$1,048,915	$8,684
2022	$152,915	$166,164	$1,046,907	$-13,249
2021	$130,447	$155,922	$1,105,086	$-25,475
2020	$210,487	$194,043	$1,118,026	$16,444
2019	$255,393	$301,788	$1,072,489	$-46,395
2018	$374,799	$398,800	$1,118,884	$-24,001