Greater Rockford Italian American Association

Nonprofit profile at a glance

EIN
363128601
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-T 2022
Location
Loves Park, IL, USA
Phone
8153786833
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fairs

Official website

Reported finances

Revenue
$56,380
Expenses
$25,354
Assets
$230,040
Liabilities
$6,500

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

Leadership & pay

24 people listed

People named in this filing

  • MIKE MAFFIOLI (CHAIR)
  • KAREN CANTELE (CO-CHAIR)
  • BRIANNE CANOVA (TREASURER)

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

A non-profit organization headed and staffed solely by volunteers, the greater rockford italian american association (griaa) serves as a conservatory of italian culture and traditions. It provides the community and opportunity to experience the customs and traditions of italy firsthand by participating in a variety of educational programs and public events provided by our griaa committees.

What it reported doing in 2024

Providing scholarships to students of grade schools and students of high school levels. Over the last 46 years, $814,500 towards scholarships have been awarded to 85 university students, 715 high school students, and 752 elementary students from the rockford community.

Operating model

Revenue model
Other-operating. 77% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 77% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 47
  • Transparency & Controls: 93
  • Accountability: 88
  • Sustainability: 70
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 39%; rating input score 39
  • Program expense ratio: 76.4%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 55%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 9.07; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -4.7% per year; rating input score 0; 39th percentile among comparable filings
  • Revenue growth: -0.8% per year; rating input score 0; 57th percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 29th percentile among comparable filings

Details

  • Where the money goes: 39% of revenue deployed · 76.4% of spending went to programs
  • Governance: 24 of 24 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $19K in reported program spending
  • Leadership: top reported pay $0 · 24 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 39/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.