Intercollegiate Center For Classical Studies

What it reported doing in 2024

The Intercollegiate Center for Classical Studies ("the Centro") is a premier academic program based in Rome, Italy, offering undergraduate students from North American colleges and universities a rigorous, place-based curriculum in ancient history, archaeology, Greek and Latin literature, cultural heritage management, the Italian language, and Renaissance and Baroque art. Founded in 1965 and incorporated as a nonprofit in 2004, the Centro celebrated 60 years of immersive classical education in 2025. To date, over 3,500 students have participated in this life-changing experience, many of whom describe their time at the Centro as foundational to their personal and intellectual development. Alumni have gone on to careers in education, public service, academia, the arts, and beyond-often crediting the Centro for instilling in them a deeper understanding of culture, critical thinking, and global awareness. What sets the Centro apart is its interdisciplinary and place-based approach: students learn directly within Rome's extraordinary historical landscape, engaging daily with iconic archaeological and artistic landmarks under the guidance of leading scholars from top U.S. institutions. The program combines academic rigor with experiential learning, making full use of Rome's status as a living classroom. Each semester, the Centro serves a new cohort of students, supported by tuition, student fees, contributions, and summer housing revenue. As the only program of its kind, the Centro continues to thrive as a model of excellence in the humanities and remains deeply committed to cultivating the next generation of global, historically-informed leaders.

Financial Efficiency

• Mission deployment rate: 29%; rating input score 29
• Program expense ratio: 69%; rating input score 69
• Fundraising efficiency: $27.86 raised per $1 spent on fundraising; rating input score 67; 67th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: Limited
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 65.4%; rating input score 95; 95th percentile among comparable filings
• Total-asset coverage ratio: 7.11; rating input score 88; 88th percentile among comparable filings
• Liabilities to assets ratio: 0.1; rating input score 59; 59th percentile among comparable filings
• Officer compensation ratio: 21.5%; rating input score 11; 11th percentile among comparable filings

Growth

• Program expense growth: 0.6% per year; rating input score 100; 16th percentile among comparable filings
• Revenue growth: 4.5% per year; rating input score 100; 38th percentile among comparable filings
• Asset growth: 5.3% per year; rating input score 100; 36th percentile among comparable filings