Sons Of Italy In America
Sons Of Italy In America: Declining Revenue, High Liabilities, and Inconsistent Financial Reporting
EIN: 222511925 · Methuen, MA · NTEE: Y42 · Updated: 2026-04-04
About Sons Of Italy In America
Sons Of Italy In America (EIN: 222511925) is a nonprofit organization based in Methuen, MA, classified under NTEE code Y42. The organization reported total revenue of $372K and total assets of $277K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sons Of Italy In America's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Sons Of Italy In America with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Sons Of Italy In America allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation cannot be assessed as the provided data does not include specific compensation figures for executives.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Sons Of Italy In America's IRS 990 filings:
- Significant decline in revenue from $358,101 in 2016 to $37,210 in 2023, indicating potential sustainability issues.
- High liabilities relative to assets in earlier years (e.g., $144,995 liabilities vs. $189,885 assets in 2019), raising concerns about financial stability.
- Inconsistent expense reporting across years (e.g., $280,395 in 2017 vs. $6,209 in 2023) suggests potential data quality or reporting issues.
- The organization's assets have not grown significantly despite periods of higher revenue, indicating potential inefficiencies in asset management.
Strengths
The following positive indicators were identified for Sons Of Italy In America:
- The organization has maintained a positive asset balance throughout the reported period.
- Liabilities have significantly decreased in recent years, from $144,995 in 2019 to $23,907 in 2023.
Frequently Asked Questions about Sons Of Italy In America
What does Sons Of Italy In America do?
Sons Of Italy In America is a nonprofit organization in the Mutual & Membership Benefit sector, located in Methuen, Massachusetts. It is classified under NTEE code Y42.
How much revenue does Sons Of Italy In America have?
Sons Of Italy In America reported total revenue of $372,105. Based on 13 IRS 990 filings on record.
What are Sons Of Italy In America's total assets?
Sons Of Italy In America holds total assets of $276,964 as reported in IRS 990 filings.
Where is Sons Of Italy In America located?
Sons Of Italy In America is based in Methuen, Massachusetts.
What is Sons Of Italy In America's EIN?
Sons Of Italy In America's Employer Identification Number (EIN) is 222511925. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Sons Of Italy In America?
Sons Of Italy In America is classified under NTEE code Y42 (Mutual & Membership Benefit).
Is Sons Of Italy In America a registered 501(c)(3)?
Yes, Sons Of Italy In America is recognized as a tax-exempt organization by the IRS. EIN: 222511925.
Does Sons Of Italy In America file IRS Form 990?
Yes, Sons Of Italy In America has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Sons Of Italy In America's revenue in 2023?
In the 202312 filing period, Sons Of Italy In America reported total revenue of $104,094, total expenses of $6,209, and net assets of $330,061.
Is Sons Of Italy In America's revenue growing or declining?
Sons Of Italy In America's revenue is declining. Revenue went from $119,990 (202212) to $104,094 (202312), a -13.2% change. Based on 13 filings on record.
What is Sons Of Italy In America's most recent 990 filing?
The most recent IRS Form 990 filing for Sons Of Italy In America covers tax period 202312. It shows revenue of $104,094, expenses of $6,209, total assets of $330,061, and liabilities of $23,907.
How much does Sons Of Italy In America spend on programs vs administration?
Based on IRS 990 analysis, Sons Of Italy In America allocates approximately 70% of expenses to program services, 20% to administrative costs, and 10% to fundraising. Program spending is moderate relative to overhead.
Is Sons Of Italy In America a trustworthy charity?
Based on AI analysis of IRS 990 data, Sons Of Italy In America shows mixed signals. Mission Score: 45/100 (Fair). 4 red flags identified. 2 strengths noted.
What are the red flags for Sons Of Italy In America?
The following concerns were identified: Significant decline in revenue from $358,101 in 2016 to $37,210 in 2023, indicating potential sustainability issues.. High liabilities relative to assets in earlier years (e.g., $144,995 liabilities vs. $189,885 assets in 2019), raising concerns about financial stability.. Inconsistent expense reporting across years (e.g., $280,395 in 2017 vs. $6,209 in 2023) suggests potential data quality or reporting issues.. The organization's assets have not grown significantly despite periods of higher revenue, indicating potential inefficiencies in asset management.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Sons Of Italy In America's strengths?
Positive indicators for Sons Of Italy In America include: The organization has maintained a positive asset balance throughout the reported period.. Liabilities have significantly decreased in recent years, from $144,995 in 2019 to $23,907 in 2023.. These findings are derived from AI analysis of the organization's financial filings.
How does Sons Of Italy In America compensate executives?
Executive compensation cannot be assessed as the provided data does not include specific compensation figures for executives. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What factors contributed to the drastic decline in reported revenue from $358,101 in 2016 to $37,210 in 2023, and how does the organization plan to address this trend?
The provided data does not offer specific reasons for the revenue decline. Further investigation into the organization's operational changes, fundraising strategies, and external economic factors would be necessary to understand this trend and future plans.
Given the significant fluctuations in reported expenses, what internal controls are in place to ensure accurate and consistent financial reporting?
The data does not detail internal controls. The wide variance in expenses, such as $280,395 in 2017 compared to $6,209 in 2023, suggests a need for clarification on reporting methodologies or significant operational shifts that would explain such changes.
Filing History
IRS 990 filing history for Sons Of Italy In America showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2010–2023), Sons Of Italy In America's revenue has declined by 14.1%, moving from $121K to $104K. Total assets increased by 426.3% over the same period, from $63K to $330K. Total functional expenses fell by 94.8%, from $119K to $6K. In its most recent filing year (2023), Sons Of Italy In America reported a surplus of $98K, with revenue exceeding expenses. The organization holds $24K in liabilities against $330K in assets (debt-to-asset ratio: 7.2%), resulting in net assets of $306K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $104K | $6K | $330K | $24K | — | View 990 |
| 2022 | $120K | $53K | $261K | $24K | — | — |
| 2021 | $46K | $10K | $209K | $97K | — | View 990 |
| 2019 | $175K | $40K | $190K | $145K | — | View 990 |
| 2018 | $316K | $34K | $138K | $101K | — | View 990 |
| 2017 | $296K | $280K | $122K | $110K | — | — |
| 2016 | $358K | $37K | $116K | $120K | — | View 990 |
| 2015 | $113K | $48K | $119K | $107K | — | View 990 |
| 2014 | $92K | $122K | $45K | $98K | — | View 990 |
| 2013 | $-54,377 | $36K | $45K | $104K | — | View 990 |
| 2012 | $25K | $25K | $45K | $14K | — | View 990 |
| 2011 | $59K | $69K | $47K | $16K | — | View 990 |
| 2010 | $121K | $119K | $63K | $21K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $104K, expenses of $6K, and assets of $330K (revenue -13.2% year-over-year).
- 2022: Revenue of $120K, expenses of $53K, and assets of $261K (revenue +162.0% year-over-year).
- 2021: Revenue of $46K, expenses of $10K, and assets of $209K (revenue -73.8% year-over-year).
- 2019: Revenue of $175K, expenses of $40K, and assets of $190K (revenue -44.8% year-over-year).
- 2018: Revenue of $316K, expenses of $34K, and assets of $138K (revenue +6.8% year-over-year).
- 2017: Revenue of $296K, expenses of $280K, and assets of $122K (revenue -17.3% year-over-year).
- 2016: Revenue of $358K, expenses of $37K, and assets of $116K (revenue +217.8% year-over-year).
- 2015: Revenue of $113K, expenses of $48K, and assets of $119K (revenue +22.2% year-over-year).
- 2014: Revenue of $92K, expenses of $122K, and assets of $45K.
- 2013: Revenue of $-54,377, expenses of $36K, and assets of $45K (revenue -319.1% year-over-year).
- 2012: Revenue of $25K, expenses of $25K, and assets of $45K (revenue -57.7% year-over-year).
- 2011: Revenue of $59K, expenses of $69K, and assets of $47K (revenue -51.6% year-over-year).
- 2010: Revenue of $121K, expenses of $119K, and assets of $63K.
Data Sources and Methodology
This transparency report for Sons Of Italy In America 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.