October as Italian Heritage Month Committee Inc
Nonprofit profile at a glance
- EIN
- 043552107
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024, Form 990-EZ 2023
- Location
- Medford, MA, USA
- Phone
- 7813939820
- Rating
- 61
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Cultural, Ethnic Awareness
Reported finances
- Revenue
- $86,049
- Expenses
- $10,802
- Assets
- $90,772
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- RICHARD VITA (PRESIDENT)
People named in this filing
- RICHARD VITA (PRESIDENT)
- SALVATORE BRAMANTE (TREASURER)
- FRANCESCA SETA (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
To inform the public of the contributions made by italian and italian americans to our civilation, especially in the arts, the humanities and the science and to celebrate the impact that italian culture and language have, and continue to have, on our lives as italian americans. This is accomplished thru promoting and supporting over 50 cultural events in the metropolitan boston area during the month of october.
What it reported doing in 2024
Promoting and supporting week long festival of italian creativity in november 2024 with workshops on theater, robotics, silk and the future of arts and science. The festival included a gala. The net proceeds of the week long events are to be distributed to the consulate general of italy during 2025.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 70% for direct work, and 30% for 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: 33
- Transparency & Controls: 86
- Accountability: 76
- Sustainability: 78
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 10.5%; rating input score 10
- Program expense ratio: 83.5%; rating input score 83
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 22nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 3 of 7 controls in place; rating input score 43
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 87.4%; rating input score 97; 97th percentile among comparable filings
- Total-asset coverage ratio: 8.4; rating input score 60; 60th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 118.3% per year; rating input score 100; 99th percentile among comparable filings
- Asset growth: 43% per year; rating input score 100; 97th percentile among comparable filings
Details
- Where the money goes: 10.5% of revenue deployed · 83.5% of spending went to programs
- Governance: 11 of 11 board members independent · 3 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $9K in reported program spending
- Leadership: top reported pay $0 · 14 people listed
- Consistency: 18 of 19 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes major donors
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- 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 — Financial Efficiency: Mission deployment rate scored 10/100.
- Moderate — Accountability: Governance controls: 4 of 7 not reported.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.