Nonprofit · EIN 32-0081843
FOUNDATION FOR ITALIAN ART AND CULTURE
Also known as ACP INC
Tax-exempt · NEW YORK, NY 10021
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $290,593 | $307,959 | -$17,366 | $632,016 | $34,637 | $597,379 |
| December 31, 2023 | 990 | $276,932 | $200,395 | $76,537 | $599,757 | $12,471 | $587,286 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $265,247
- Program service revenue
- $0
- Investment income
- $25,346
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $70,417
- Salaries, compensation and benefits (total)
- $70,417
- Professional fundraising fees
- $0
- Accounting fees
- $9,424
- Occupancy
- $995
- Travel
- $39,620
- Program services (functional)
- $294,733
- Management and general (functional)
- $6,612
- Fundraising (functional)
- $6,614
Balance sheet and other
- Total assets, start of year
- $599,757
- Total assets, end of year
- $632,016
- Total liabilities, end of year
- $34,637
- Net assets, end of year
- $597,379
- Publicly traded securities
- $473,463
- Net assets without donor restrictions
- $597,379
- Gross receipts
- $290,593
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2004
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| OLIVIA D'APONTE | EXECUTIVE DIRECTOR Trustee or director, Officer | 20 | $70,000 |
| ALANI ELKANN | PRESIDENT Trustee or director, Officer | 1 | $0 |
| AMB DANIELE BODINI | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| ANGIE LO | TREASURER Trustee or director, Officer | 1 | $0 |
| WILLIAM B ACQUAVELLA | DIRECTOR Trustee or director | 1 | $0 |
| FRANCESCA BODINI | DIRECTOR Trustee or director | 1 | $0 |
| CARLO CLAVARINO | DIRECTOR Trustee or director | 1 | $0 |
| JOHN DYSON | DIRECTOR Trustee or director | 1 | $0 |
| MASSIMO FERRAGAMO | DIRECTOR Trustee or director | 1 | $0 |
| MARIO GABELLI | DIRECTOR Trustee or director | 1 | $0 |
| DONNA PATRIZIA MEMMO RUSPOLI | DIRECTOR Trustee or director | 1 | $0 |
| JOSEPH PERELLA | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| OLIVIA D'APONTE | EXECUTIVE DIRECTOR Trustee or director, Officer | 20 | $64,167 |
| ALAIN EKANN | PRESIDENT Trustee or director, Officer | 1 | $0 |
| AMB DANIELE BODINI | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| ANGIE LO | TREASURER Trustee or director, Officer | 1 | $0 |
| WILLIAM B ACQUAVELLA | DIRECTOR Trustee or director | 1 | $0 |
| FRANCESCA BODINI | DIRECTOR Trustee or director | 1 | $0 |
| CARLO CLAVERINO | DIRECTOR Trustee or director | 1 | $0 |
| JOHN DYSON | DIRECTOR Trustee or director | 1 | $0 |
| MASSIMO FERRAGAMO | DIRECTOR Trustee or director | 1 | $0 |
| MARIO GABELLI | DIRECTOR Trustee or director | 1 | $0 |
| DONNA PATRIZIA MEMMO RUSPOLI | DIRECTOR Trustee or director | 1 | $0 |
| JOSEPH PERELLA | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 112 E 71ST ST APT 2A, NEW YORK, NY 10021-5034
- Principal officer (990 for 2024)
- ANGIE LO, 112 E 71ST STREET 2A, NEW YORK, NY 10021
- Signed the 990
- ANGIE LO, TREASURER
- Phone
- (212) 980-1755
- Website
- WWW.FIACFOUNDATION.ORG
- Return prepared by
- LUTZ AND CARR CPAS LLP
Mission
TO SPREAD ITALIAN CULTURE IN UNITED STATES BY ORGANIZING EXHIBITIONS, SHOWS, DISPLAYS OF PAITNTINGS, SCULPTURES AND OTHER VISUAL ARTS IN THE UNITED STATES AND PROMOTING THE RESTORATION OF WORKS OF ART IN ITALY IN ORDER TO PRESERVE AND PROMOTE ITALIAN CULTURE.
Program accomplishments
- ON MARCH 21, 2024, FIAC HOSTED THE 2023 FIAC EXCELLENCY AWARDS CEREMONY AND DINNER AT THE TENNIS AND RACQUET CLUB IN NEW YORK, HONORING AWARD RECIPIENT GIULIO MANIERI ELIA, DIRECTOR OF THE GALLERIE DELL'ACCADEMIA DI VENEZIA. THE EVENT FOLLOWED THE ANNUAL MEETING OF THE FIAC BOARD OF DIRECTORS.THROUGHOUT THE YEAR, FIAC CONTINUED TO CULTIVATE NEW PARTNERSHIPS AND INITIATIVES. THE BOARD APPOINTED DOTT. ANGELO CRESPI, DIRECTOR OF THE PINACOTECA DI BRERA, AS THE NEWEST MEMBER OF THE SCIENTIFIC BOARD.FIAC FINALIZED A PARTNERSHIP WITH THE GALLERIE DELL'ACCADEMIA IN VENICE AND THE CINCINNATI ART MUSEUM IN OHIO TO SUPPORT THE RESTORATION OF SEVERAL PAINTINGS BY TINTORETTO. TWO OF THE THREE MASTERPIECES FROM TINTORETTO'S GENESIS SERIES, RESTORED WITH FIAC'S SUPPORT, WILL BE FEATURED IN AN EXHIBITION AT THE CINCINNATI ART MUSEUM IN APRIL 2025.IN COLLABORATION WITH THE GALLERIA BORGHESE IN ROME, FIAC ALSO BEGAN THE PROCESS OF IDENTIFYING WORKS FOR FUTURE EXHIBITIONS IN THE UNITED STATES.ADDITIONALLY, FIAC PARTICIPATED IN THE SPONSORSHIP OPERA ITALIANA IN CENTRAL PARK, A FREE OPEN-AIR CONCERT HELD IN NEW YORK ON SEPTEMBER 24, 2024.FINALLY, PREPARATIONS ARE UNDERWAY FOR THE 2024 FIAC EXCELLENCY AWARDS CEREMONY AND DINNER, TO BE HELD ONCE AGAIN AT THE TENNIS AND RACQUET CLUB IN MARCH 2025.Expenses $294,733
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 32-0081843
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2004
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B99)
- Assets (IRS master file)
- $632,016
- Income (IRS master file)
- $290,593
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $290,593 | $307,959 | $632,016 | XML |
| 990 | December 2023 | $276,932 | $200,395 | $599,757 | XML |
| 990 | December 2022 | $295,183 | $197,344 | $510,196 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 32-0081843).
Questions about FOUNDATION FOR ITALIAN ART AND CULTURE
- What is the EIN of FOUNDATION FOR ITALIAN ART AND CULTURE?
- The employer identification number (EIN) of FOUNDATION FOR ITALIAN ART AND CULTURE is 32-0081843.
- Is FOUNDATION FOR ITALIAN ART AND CULTURE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2004.
- Are donations to FOUNDATION FOR ITALIAN ART AND CULTURE tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FOUNDATION FOR ITALIAN ART AND CULTURE file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FOUNDATION FOR ITALIAN ART AND CULTURE due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FOUNDATION FOR ITALIAN ART AND CULTURE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FOUNDATION FOR ITALIAN ART AND CULTURE?
- The 990 for the year ended December 31, 2024 names ANGIE LO.
- Who are the officers and directors of FOUNDATION FOR ITALIAN ART AND CULTURE?
- The 990 for the year ended December 31, 2024 lists 12 people; 1 received compensation from the organization, the highest $70,000 (OLIVIA D'APONTE, EXECUTIVE DIRECTOR).
- How much revenue does FOUNDATION FOR ITALIAN ART AND CULTURE have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $290,593, expenses of $307,959 and total assets of $632,016 at year end.
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