Friends of Fai - the Italian Environment

Nonprofit profile at a glance

EIN
133599581
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2128034051
Rating
85
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$915,776
Expenses
$1,034,628
Assets
$150,535
Liabilities
$30,091

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • JAMES M CAROLAN (PRESIDENT)
  • SHARLEEN COOPER COHEN (VICE PRESIDENT)
  • AMANDA KUTNER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • AMANDA KUTNER (EXECUTIVE DIRECTOR): $137,070 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of friends of fai is to foster in the united states a deeper appreciation of and support for the preservation of italian cultural and historical heritage reflected in buildings and properties of architectural and environmental significance located in italy.

What it reported doing in 2024

Friends of fai organizes unique events, conferences and trips for those who wish to help friends of fai achieve its mission. It also provides its members with advanced information so that they can participate in friends of fai's activities on a priority basis. Members of friends of fai are able to access the very best of what italy's culture and art have to offer through the many personal contacts and sources that are available to friends of fai.since 2001, friends of fai has organized many special trips for its members which have included visits to: northern italy, sicily, a tour of fai's properties in and around milan, rome, a spring tour of veneto, a tour of parma and piacenza, a tour of genoa and the portofino, and trieste and venice.every year friends of fai organizes cultural activities in the united states including conferences, seminars, exhibits and concerts for the purpose of informing the public of and promoting our mission.

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 87% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 95
  • Transparency & Controls: 83
  • Accountability: 84
  • Sustainability: 15
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.1%; rating input score 92
  • Fundraising efficiency: $51.95 raised per $1 spent on fundraising; rating input score 78; 78th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 3 of 8 controls in place; rating input score 38
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Limited
    • Conducts field audits: Limited
    • May suspend future funding: Limited
    • Requires financial reports: Pass
    • Conducts site visits: Limited
    • Requires grant agreements: Pass
    • May require repayment: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -13%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.15; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 13.2%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 6.7% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: 6.9% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 6.1% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.1% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $952K in reported program spending
  • Leadership: top reported pay $137K · 10 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.