The Italian American Club Foundation

Nonprofit profile at a glance

EIN
411440206
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Minneapolis, MN, USA
Phone
6127810625
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Specialized Education Institutions

Official website

Reported finances

Revenue
$495,994
Expenses
$448,226
Assets
$1,257,991
Liabilities
$1,719

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

Leadership & pay

14 people listed

Executive titles in this filing

  • BOB BRAMA (President)
  • BRETT VILLELLA (Vice President)

Highest reported compensation

  • William Scalise (Gaming Chairman): $82,000 total reported compensation
  • JIM SCALISE (Assistant Gaming Chairman): $33,000 total reported compensation
  • Peter Chiodo (Treasurer): $10,200 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide scholarships & grants

What it reported doing in 2024

The italian american club foundation provides scholarships and grants to individuals and charitable organizations in the community through an application process. The grants are provided to charitable organizations that qualify as exempt under sections 170(c)(2) and 501(c)(3) of the internal revenue code. Scholarships for fy 6/30/25 were distributed to 92 individuals from the state of Minnesota for post-secondary education. In addition, many not-for-profit type organizations and civic groups received money for worthwhile causes. Sponsored events inculded a golf tournament.

Operating model

Revenue model
Other-operating. 86% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% 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. A relatively small share of voting board members are independent and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 64
  • Accountability: 35
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.1%; rating input score 85
  • Program expense ratio: 92.2%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 3rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 29.8%; rating input score 30; 39th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 35.7%; rating input score 36; 15th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.6%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 2.81; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 34.5%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 3.2% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 85.1% of revenue deployed · 92.2% of spending went to programs
  • Governance: 5 of 14 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $413K in reported program spending
  • Leadership: top reported pay $82K · 14 people listed
  • Consistency: 20 of 22 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 16 filed money-flow records
  • Related organizations: 9 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.

  • Moderate — Accountability: Independent voting board scored 36/100.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 30/100.
  • Moderate — Accountability: Governance controls: 6 of 9 not reported.
  • Review — Sustainability: Operating margin scored 59/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.