Sons of Italy Foundation

Nonprofit profile at a glance

EIN
236276526
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-N 2014
Location
Washington, DC, USA
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,047,072
Expenses
$1,148,660
Assets
$5,398,252
Liabilities
$501,277

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

Leadership & pay

21 people listed

People named in this filing

  • JOSEPH SCIAME (SIF PRESIDEN)
  • TONY NACCARATO (SIF TRUSTEE)
  • MARIANNE PRINCIPE O'NEIL (TRUSTEE)

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

The sons of italy foundation was founded as a grant-making institution with the purpose of preserving italian american culture, encouraging educational excellence, supporting medical research, preventing discrimination and improving the quality of life in other areas.

What it reported doing in 2024

Charitable, medical research, educational program - to provide funds for charitable, medical and educational programs. Donations (see schedule) educational programs and publications.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 60% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 70
  • Accountability: 94
  • Sustainability: 47
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77%; rating input score 77
  • Program expense ratio: 66%; rating input score 66
  • Fundraising efficiency: $1.14 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 4th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Limited
    • Requires narrative reports: Limited
    • Conducts field audits: Limited
    • May suspend future funding: Limited
    • Requires financial reports: Limited
    • Conducts site visits: Limited
    • Requires grant agreements: Limited
    • May require repayment: Limited
  • Grant itemization coverage: 99.4%; rating input score 99; 49th percentile among comparable filings
  • 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: 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: Pass

Sustainability

  • Operating margin: -9.7%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 4.7; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -2.4% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 14% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 77% of revenue deployed · 66% of spending went to programs
  • Governance: 21 of 21 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $758K in reported program spending
  • Leadership: top reported pay $0 · 21 people listed
  • Consistency: 39 of 41 current checks pass · 2 findings to review
  • Schedules: 8 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 16 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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 — Financial Efficiency: Fundraising efficiency scored 4/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 17/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule G fundraiser detail did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.