Italian American Chamber of Commerc

Nonprofit profile at a glance

EIN
362256398
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Northbrook, IL, USA
Phone
3122180255
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$1,504,706
Expenses
$1,521,863
Assets
$468,921
Liabilities
$459,741

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

Leadership & pay

8 people listed

Executive titles in this filing

  • MAURO GALLI (PRESIDENT)

People named in this filing

  • MAURO GALLI (PRESIDENT)
  • MAURIZIO MUZZETTA (VICE PRESIDE)
  • CHRIS AUGUSTINE (DIRECTOR)

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

See attached exhibit detailing specific organization activities mission statement the italian american chamber of commerce - midwest is a not-for-profit corporation existing under the laws of the state of Illinois based in chicago and serving the following purposes: to promote, facilitate, and protect trade relations between the united states and italy. To promote the interests of italian american businessmen, and in particular, our own members. To encourage and guide the commercial and industrial aspirations of italian americans. To foster and encourage greater trade development between the united states and italy. To provide an exchange of information relative to business and commerce of the united states and italy and the potentialities of their development. To cooperate and participate in all matters which may contribute to strengthening the bonds of friendship between the united states and italy. To stimulate the interest of italians in italy, as well as in the united states, towa

What it reported doing in 2024

Trade missions and trade shows are hosted to promote civic and business activities and relationships-see detail of significant activities in exhibit i

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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 the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 29
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.1%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.31; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.98; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: -1.4% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -1.2% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 1 of 7 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 12 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.