Italian Cultural Center
EIN: 61778894 · Minneapolis, MN · NTEE: A20
| Metric | Value |
|---|---|
| Total Revenue | $442K |
| Total Expenses | $269K |
| Net Assets | $253K |
Is Italian Cultural Center Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Italian Cultural Center
Italian Cultural Center (EIN: 61778894) is a nonprofit organization based in Minneapolis, MN, classified under NTEE code A20. The organization reported total revenue of $442K and total assets of $478K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Italian Cultural Center's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Italian Cultural Center is a small nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $279K |
| Total Expenses | $269K |
| Surplus / Deficit | +$10K |
| Total Assets | $423K |
| Total Liabilities | $169K |
| Net Assets | $253K |
| Operating Margin | 3.7% |
| Debt-to-Asset Ratio | 40.1% |
| Months of Reserves | 18.8 months |
Financial Health Grade: A
In 2023, Italian Cultural Center reported a surplus of $10K with revenue exceeding expenses, holds 18.8 months of operating reserves (strong position), has a debt-to-asset ratio of 40.1% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Italian Cultural Center's revenue has grown at a compound annual growth rate (CAGR) of 8.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +20.3% | -1.4% | +17.9% |
| 2022 | -17.8% | +24.1% | -21.6% |
| 2021 | +16.7% | -8.2% | +79.2% |
| 2020 | +67.3% | +82.4% | +13.5% |
| 2019 | -29.7% | -23.0% | +0.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Italian Cultural Center has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Italian Cultural Center with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $10K, with revenue exceeding expenses.
- Debt-to-asset ratio: 40.1%.
Frequently Asked Questions about Italian Cultural Center
Is Italian Cultural Center a legitimate charity?
Italian Cultural Center (EIN: 61778894) is a registered tax-exempt nonprofit based in Minnesota. It has 13 years of IRS 990 filings on record. Total revenue: $442K. No red flags identified. Financial health grade: A.
How does Italian Cultural Center spend its money?
Italian Cultural Center reported $442K in total revenue in IRS 990 filings. 13 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Italian Cultural Center tax-deductible?
Italian Cultural Center is registered as a tax-exempt nonprofit (EIN: 61778894). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Italian Cultural Center located?
Italian Cultural Center is headquartered in Minneapolis, Minnesota and files with the IRS under EIN 61778894. It is classified under NTEE code A20.
How many years of IRS 990 filings does Italian Cultural Center have?
Italian Cultural Center has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $442K in total revenue.
Filing History
IRS 990 filing history for Italian Cultural Center showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Italian Cultural Center's revenue has grown by 156.1%, moving from $109K to $279K. Total assets increased by 327.9% over the same period, from $99K to $423K. Total functional expenses rose by 268.3%, from $73K to $269K. In its most recent filing year (2023), Italian Cultural Center reported a surplus of $10K, with revenue exceeding expenses. The organization holds $169K in liabilities against $423K in assets (debt-to-asset ratio: 40.1%), resulting in net assets of $253K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $279K | $269K | $423K | $169K | — | View 990 |
| 2022 | $232K | $273K | $359K | $145K | — | View 990 |
| 2021 | $283K | $220K | $457K | $155K | — | — |
| 2020 | $242K | $240K | $255K | $39K | — | View 990 |
| 2019 | $145K | $131K | $225K | $11K | — | View 990 |
| 2018 | $206K | $171K | $224K | $24K | — | View 990 |
| 2017 | $151K | $141K | $185K | $20K | — | View 990 |
| 2016 | $164K | $136K | $170K | $19K | — | View 990 |
| 2015 | $127K | $131K | $144K | $20K | — | View 990 |
| 2014 | $129K | $114K | $149K | $22K | — | View 990 |
| 2013 | $103K | $95K | $124K | $11K | — | View 990 |
| 2012 | $110K | $88K | $119K | $15K | — | View 990 |
| 2011 | $109K | $73K | $99K | $18K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $279K, expenses of $269K, and assets of $423K (revenue +20.3% year-over-year).
- 2022: Revenue of $232K, expenses of $273K, and assets of $359K (revenue -17.8% year-over-year).
- 2021: Revenue of $283K, expenses of $220K, and assets of $457K (revenue +16.7% year-over-year).
- 2020: Revenue of $242K, expenses of $240K, and assets of $255K (revenue +67.3% year-over-year).
- 2019: Revenue of $145K, expenses of $131K, and assets of $225K (revenue -29.7% year-over-year).
- 2018: Revenue of $206K, expenses of $171K, and assets of $224K (revenue +36.3% year-over-year).
- 2017: Revenue of $151K, expenses of $141K, and assets of $185K (revenue -7.8% year-over-year).
- 2016: Revenue of $164K, expenses of $136K, and assets of $170K (revenue +28.8% year-over-year).
- 2015: Revenue of $127K, expenses of $131K, and assets of $144K (revenue -1.5% year-over-year).
- 2014: Revenue of $129K, expenses of $114K, and assets of $149K (revenue +25.1% year-over-year).
- 2013: Revenue of $103K, expenses of $95K, and assets of $124K (revenue -6.2% year-over-year).
- 2012: Revenue of $110K, expenses of $88K, and assets of $119K (revenue +1.0% year-over-year).
- 2011: Revenue of $109K, expenses of $73K, and assets of $99K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Italian Cultural Center:
Data Sources and Methodology
This transparency report for Italian Cultural Center is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.