Friends of Florence

Nonprofit profile at a glance

EIN
911878427
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2023333705
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$1,010,037
Expenses
$1,058,244
Assets
$4,543,024
Liabilities
$19,784

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

Leadership & pay

19 people listed

Executive titles in this filing

  • Simonetta Brandolini d'Adda (President)
  • Michael Collins (Vice President)

People named in this filing

  • Simonetta Brandolini d'Adda (President)
  • Michael Collins (Vice President)
  • Joann K Gardner (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Preserving and enhancing the cultural and historical integrity of the arts found in the city and region of Florence Italy and to increase public understanding and appreciation through educational programs and events.

What it reported doing in 2024

The organization provides funding to preserve and enhance the cultural and historical integrity of the arts found in and originating from the city and region of Florence, Italy this work has included extensive restoration projects at The Uffizi Gallery, Baptistry, San Marco, Santa Croce and Accademia among others.

Operating model

Revenue model
Donor-supported. 86% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 55
  • Accountability: 94
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.4%; rating input score 85
  • Program expense ratio: 79.3%; rating input score 79
  • Fundraising efficiency: $109.27 raised per $1 spent on fundraising; rating input score 87; 87th 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: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • 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: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.8%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 4.29; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 5.7% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 85.4% of revenue deployed · 79.3% of spending went to programs
  • Governance: 19 of 19 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $839K in reported program spending
  • Leadership: top reported pay $0 · 19 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes major donors and foreign activity
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Sustainability: Operating margin scored 24/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.