Form 990 for tax year 2023
Filed by ITALIAN AMER ASSOC OF THE TOWNSHIP.
Totals
- Total revenue
- $515,122
- Total expenses
- $417,556
- Contributions and grants received
- $18,430
- Grants paid
- $60,000
- Program service revenue
- $394,650
- Investment income
- $10,226
- Other revenue
- $91,816
- Total assets, end of year
- $2,335,764
- Total liabilities, end of year
- $37,796
- Net assets or fund balances, end of year
- $2,297,968
- Program services expenses (Part IX)
- $400,129
- Management and general expenses
- $17,427
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $400,129
Program services were 95.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$18,430
-
2a · Program service revenue: MEMBERSHIP DUES
total $297,076 · related or exempt $297,076
-
2b · Program service revenue: COMMUNITY EVENTS
total $70,171 · related or exempt $70,171
-
2c · Program service revenue: FESTIVAL REVENUE
total $27,403 · related or exempt $27,403
-
3 · Investment income
total $10,226 · excluded $10,226
-
6a · Gross rents
real property $194,408
-
6b · Less rental expenses
real property $152,491
-
6c · Rental income or loss
real property $41,917
-
6d · Net rental income or loss
total $41,917 · unrelated business $41,917
-
9a · Gaming: gross income
$108,368
-
9b · Gaming: direct expenses
$60,168
-
9c · Net income from gaming
total $48,200 · excluded $48,200
-
11a · Other revenue: MISCELLANEOUS
total $1,699 · excluded $1,699
-
11e · Other revenue, total
$1,699
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $60,000 · program services $60,000
-
12 · Advertising and promotion
total $12,863 · program services $8,862 · management and general $4,001
-
13 · Office expenses
total $12,193 · management and general $12,193
-
22 · Depreciation, depletion and amortization
total $11,068 · program services $11,068
-
23 · Insurance
total $6,596 · program services $6,596
-
24a · Other expenses: COMMUNITY EVENTS
total $217,765 · program services $217,765
-
24b · Other expenses: DONATIONS
total $45,551 · program services $45,551
-
24c · Other expenses: HOUSE EVENTS
total $28,595 · program services $28,595
-
24d · Other expenses: REPAIRS AND MAINTENANCE
total $11,733 · program services $11,733
-
24e · All other expenses
total $11,192 · program services $9,959 · management and general $1,233
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $303,838 · end of year $298,934
-
2 · Savings and temporary cash investments
beginning of year $518,268 · end of year $368,188
-
10a · Land, buildings and equipment: cost or other basis
$2,575,675
-
10b · Land, buildings and equipment: accumulated depreciation
$1,213,513
-
10c · Land, buildings and equipment, net
beginning of year $1,409,587 · end of year $1,362,162
-
11 · Investments: publicly traded securities
end of year $302,618
-
15 · Other assets
beginning of year $3,862 · end of year $3,862
-
17 · Accounts payable and accrued expenses
beginning of year $15,984 · end of year $16,761
-
19 · Deferred revenue
beginning of year $19,169 · end of year $21,035
-
27 · Net assets without donor restrictions
beginning of year $2,200,402 · end of year $2,297,968
Mission and programs · 2023
Mission
DEDICATION TO CHILDREN, FAMILIES AND THE FOSTERING OF THE ITALIAN-AMERICAN HERITAGE AND CULTURE.
Activities or mission (Part I)
THE ITALIAN AMERICAN ASSOCIATION OF THE TOWNSHIP OF OCEAN, INC. IS AN ORGANIZATION DEDICATED TO CHILDREN, FAMILIES AND THE FOSTERING OF THE ITALIAN-AMERICAN HERITAGE AND CULTURE.
-
PARTICIPATION OF ORGANIZATION MEMBERS AND FACILITIES IN ACTIVITIES FOR THE BETTERMENT OF THE COMMUNITY.
Expenses $400,129 · Grants $60,000 · Revenue $394,650
As filed on the 2023 return.
Listed in Part VII
-
Charles ChiarelliCHARLES CHIARELLI
EXECUTIVE SECRETARY
- Total calculated
- $0
- Hours/week
- 8
-
Robert Acerra SrROBERT ACERRA SR
RECORDING SECRETARY
- Total calculated
- $0
- Hours/week
- 8
-
Frank ViscoFRANK VISCO
SERGEANT-AT-ARMS
- Total calculated
- $0
- Hours/week
- 8
-
Nicholas RomagnoliNICHOLAS ROMAGNOLI
SECOND VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 8
-
Louis AlbruzzeseLOUIS ALBRUZZESE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 8
-
Frank CrupiFRANK CRUPI
FINANCIAL SECRETARY
- Total calculated
- $0
- Hours/week
- 8
-
Robert LabellaROBERT LABELLA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 8
-
Greg FrascaGREG FRASCA
FIRST VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 8
-
Vince CampanileVINCE CAMPANILE
TREASURER
- Total calculated
- $0
- Hours/week
- 20
-
Anthony RubinoANTHONY RUBINO
PRESIDENT
- Total calculated
- $0
- Hours/week
- 15
-
Joseph Boscia JrJOSEPH BOSCIA JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 8
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 10 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413169349302286
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