Nonprofit · EIN 41-1440206
ITALIAN AMERICAN CLUB FOUNDATION INC
Tax-exempt · MINNEAPOLIS, MN 55418
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $495,994 | $448,226 | $47,768 | $1,257,991 | $1,719 | $1,256,272 |
| June 30, 2024 | 990 | $391,509 | $378,758 | $12,751 | $1,153,615 | $3,354 | $1,150,261 |
| June 30, 2023 | 990 | $431,368 | $419,164 | $12,204 | $1,104,409 | $2,267 | $1,102,142 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $13,781
- Membership dues
- $7,845
- Program service revenue
- $3,431
- Investment income
- $52,634
- Net income from gaming
- $426,148
- Other revenue
- $426,148
Expenses
- Grants and similar amounts paid
- $413,230
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $14,631
- Depreciation
- $2,417
- Program services (functional)
- $413,230
- Management and general (functional)
- $34,996
Balance sheet and other
- Total assets, start of year
- $1,153,615
- Total assets, end of year
- $1,257,991
- Total liabilities, end of year
- $1,719
- Net assets, end of year
- $1,256,272
- Land, buildings and equipment
- $11,339
- Publicly traded securities
- $1,095,393
- Net assets without donor restrictions
- $1,256,272
- Gross unrelated business income
- -$40,312
- Gross receipts
- $12,350,685
- Employees
- 20
- Volunteers
- 0
- Year formed
- 1982
- State of legal domicile
- MN
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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| William Scalise | Gaming Chairman Trustee or director, Officer | 40 | $82,000 |
| JIM SCALISE | Assistant Gaming Chairman Trustee or director, Officer | 5 | $33,000 |
| Peter Chiodo | Treasurer Trustee or director, Officer | 10 | $10,200 |
| PETE SCALISE | Director Trustee or director | 5 | $9,690 |
| BOB BRAMA | President Trustee or director, Officer | 10 | $9,500 |
| Nick Villella | Director Trustee or director | 5 | $6,500 |
| TOM TERESI | Secretary Trustee or director, Officer | 1 | $3,600 |
| BRETT VILLELLA | Vice President Trustee or director, Officer | 1 | $0 |
| John Chiodo | Director Trustee or director | 1 | $0 |
| Brad Drews | Director Trustee or director | 1 | $0 |
| JIM MOLINARO | Director Trustee or director | 1 | $0 |
| DEAN BONA | Director Trustee or director | 1 | $0 |
| Larry Ranallo | Director Trustee or director | 1 | $0 |
| ERNIE LEPORE | Director Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| William Scalise | Gaming Chairman Trustee or director, Officer | 40 | $77,000 |
| Peter Chiodo | Treasurer Trustee or director, Officer | 10 | $10,800 |
| BOB BRAMA | President Trustee or director, Officer | 10 | $9,000 |
| Nick Villella | Director Trustee or director | 5 | $6,000 |
| DEAN BONA | Vice President Trustee or director, Officer | 1 | $0 |
| TOM TERESI | Secretary Trustee or director, Officer | 1 | $0 |
| John Chiodo | Director Trustee or director | 1 | $0 |
| Brad Drews | Director Trustee or director | 1 | $0 |
| JIM MOLINARO | Director Trustee or director | 1 | $0 |
| ANTHONY BRAMA | Director Trustee or director | 1 | $0 |
| Larry Ranallo | Director Trustee or director | 1 | $0 |
990 for the year ended June 30, 2023: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| William Scalise | Gaming Chairman Trustee or director, Officer | 40 | $78,000 |
| Peter Chiodo | Treasurer Trustee or director, Officer | 10 | $10,800 |
| BOB BRAMA | President Trustee or director, Officer | 10 | $6,000 |
| Nick Villella | Director Trustee or director | 5 | $6,000 |
| DEAN BONA | Vice President Trustee or director, Officer | 1 | $0 |
| RON LAWERENCE | Secretary Trustee or director, Officer | 1 | $0 |
| John Chiodo | Director Trustee or director | 1 | $0 |
| Brad Drews | Director Trustee or director | 1 | $0 |
| JIM MOLINARO | Director Trustee or director | 1 | $0 |
| ANTHONY BRAMA | Director Trustee or director | 1 | $0 |
| Larry Ranallo | Director Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 2223 CENTRAL AVE, MINNEAPOLIS, MN 55418-3762
- Principal officer (990 for 2024)
- BOB BRAMA, 1685 126TH LN NE, MINNEAPOLIS, MN 55449
- Signed the 990
- BOB BRAMA, PRESIDENT
- Phone
- (612) 781-0625
- Return prepared by
- Landon C Scott PLLC
Mission
PROVIDE SCHOLARSHIPS & GRANTS
Program accomplishments
- 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.Expenses $413,230 · grants $413,230 · revenue $495,994
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 41-1440206
- 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
- 1983
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B280)
- Assets (IRS master file)
- $1,257,991
- Income (IRS master file)
- $12,350,685
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $495,994 | $448,226 | $1,257,991 | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $391,509 | $378,758 | $1,153,615 | XML |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $431,368 | $419,164 | $1,104,409 | XML |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $501,293 | $443,084 | $1,085,103 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | 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 41-1440206).
Questions about ITALIAN AMERICAN CLUB FOUNDATION INC
- What is the EIN of ITALIAN AMERICAN CLUB FOUNDATION INC?
- The employer identification number (EIN) of ITALIAN AMERICAN CLUB FOUNDATION INC is 41-1440206.
- Is ITALIAN AMERICAN CLUB FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1983.
- Are donations to ITALIAN AMERICAN CLUB FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ITALIAN AMERICAN CLUB FOUNDATION INC 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 ITALIAN AMERICAN CLUB FOUNDATION INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ITALIAN AMERICAN CLUB FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of ITALIAN AMERICAN CLUB FOUNDATION INC?
- The 990 for the year ended June 30, 2025 names BOB BRAMA.
- Who are the officers and directors of ITALIAN AMERICAN CLUB FOUNDATION INC?
- The 990 for the year ended June 30, 2025 lists 14 people; 7 received compensation from the organization, the highest $82,000 (William Scalise, Gaming Chairman).
- How much revenue does ITALIAN AMERICAN CLUB FOUNDATION INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $495,994, expenses of $448,226 and total assets of $1,257,991 at year end.
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