Liabilities / Assets
97th percentile
Higher debt load relative to assets than 97% of similar nonprofits.
Italian American Chamber of Commerc
EIN 36-2256398 • 501(c)6 • Northbrook, IL
Profile
See attached exhibit detailing specific organization activities mission statement the italian american chamber of commerce - midwest is a not-for-profit corporation existing under the laws of the state of illinois based in chicago and serving the following purposes: to promote, facilitate, and protect trade relations between the united states and italy. To promote the interests of italian american businessmen, and in particular, our own members. To encourage and guide the commercial and industrial aspirations of italian americans. To foster and encourage greater trade development between the united states and italy. To provide an exchange of information relative to business and commerce of the united states and italy and the potentialities of their development. To cooperate and participate in all matters which may contribute to strengthening the bonds of friendship between the united states and italy. To stimulate the interest of italians in italy, as well as in the united states, towa
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
0.98x
Liabilities / Revenue
68th percentile
Higher debt load relative to revenue than 68% of similar nonprofits.
Net Margin
30th percentile
Higher net margin than 30% of similar nonprofits.
Top Officer Pay
30th percentile
Higher top officer pay than 30% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
6th percentile
Faster asset growth than 6% of similar nonprofits.
Revenue Growth
93rd percentile
Faster revenue growth than 93% of similar nonprofits.
Balance Sheet
Assets
Down$468,921
Down $161,768 (-26%) from 2023
Liabilities
Down$459,741
Down $144,611 (-24%) from 2023
Net Assets
Down$9,180
Down $17,157 (-65%) from 2023
Revenue
Up$1,504,706
Up $532,795 (+55%) from 2023
Expenses
Up$1,521,863
Up $569,217 (+60%) from 2023
Net Income
Down-$17,157
Down $36,422 (-189%) from 2023
Trend Graphs
Filings
Most recent year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $468,921
- Liabilities
- $459,741
- Net assets
- $9,180
- Revenue
- $1,504,706
- Expenses
- $1,521,863
- Net income
- -$17,157
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2024 to Dec 31, 2024
- Signed
- Feb 23, 2026
- Return Version
- 2024v5.0
- Gross Receipts
- $1,504,706
Mission and Program Overview
Mission
See attached exhibit detailing specific organization activities mission statement the italian american chamber of commerce - midwest is a not-for-profit corporation existing under the laws of the state of illinois based in chicago and serving the following purposes: to promote, facilitate, and protect trade relations between the united states and italy. To promote the interests of italian american businessmen, and in particular, our own members. To encourage and guide the commercial and industrial aspirations of italian americans. To foster and encourage greater trade development between the united states and italy. To provide an exchange of information relative to business and commerce of the united states and italy and the potentialities of their development. To cooperate and participate in all matters which may contribute to strengthening the bonds of friendship between the united states and italy. To stimulate the interest of italians in italy, as well as in the united states, towa
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Accounts Receivable | $541,080 | $415,354 | ▼ $125,726 |
| Cash and Non-Interest-Bearing Accounts | $49,438 | $13,396 | ▼ $36,042 |
| Total Assets | $630,689 | $468,921 | ▼ $161,768 |
| Other Assets Total | $40,171 | $40,171 | → $0 |
| Liabilities | |||
| Unsecured Notes Loans Payable | $547,000 | $447,000 | ▼ $100,000 |
| Accounts Payable and Accrued Expenses | $57,352 | $12,741 | ▼ $44,611 |
| Total Liabilities | $604,352 | $459,741 | ▼ $144,611 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $26,337 | $9,180 | ▼ $17,157 |
| Total Net Assets Fund Balance | $26,337 | $9,180 | ▼ $17,157 |
| Total Liabilities and Net Assets / Fund Balance | $630,689 | $468,921 | ▼ $161,768 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Other Land Buildings | - | $89,776 | $89,776 |
| Other Assets Org | $40,171 | - | - |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Mauro Galli | President |
| Chris Augustine | Director |
| Kris Moyer | Director |
| Manfredi Nulli | Director |
| Valentina Gaglio | Director |
| Zurich Esposito | Director |
| Fulvio Calcinardi | Executive Di |
| Maurizio Muzzetta | Vice Preside |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $8,549
- Program Service Revenue
- $1,496,157
- Investment Income
- $0
- Other Revenue
- $0
- Change in Net Assets
- $-17,157
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $1,372,697 |
| Salaries, Compensation, and Employee Benefits | $149,166 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Conferences and Meetings | $1,005,895 | - | - | $1,005,895 |
| Occupancy | $256,532 | - | - | $256,532 |
| Other Salaries and Wages | $119,750 | - | - | $119,750 |
| Interest | $47,952 | - | - | $47,952 |
| Office Expenses | $32,339 | - | - | $32,339 |
| Other Employee Benefits | $29,416 | - | - | $29,416 |
| Information Technology | $22,054 | - | - | $22,054 |
| Insurance | $7,853 | - | - | $7,853 |
| Fees for Services Other | $72 | - | - | $72 |
| Total Functional Expenses | $1,521,863 | $0 | $0 | $1,521,863 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- In-house lobbying only
- No
- Subject to proxy tax
- Yes
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Backup withholding compliance
- Yes
- Business relationship with 35% controlled entity
- No
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- No
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- No
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Page 6, Part VI, Line 11B
“No review was or will be conducted.”
Form 990, Page 6, Part VI, Line 18
“The governing documents, conflict of interest policy, and financial statements are available to the public if requested.”
Form 990, Page 6, Part VI, Line 19
“The governing documents, conflict of interest policy, and financial statements are available to the public if requested.”
Filing and Contact Details
Filer
- Filer Name
- Italian American Chamber of Commerc
- EIN
- 36-2256398
- Phone
- 3122180255
- Address
- 728 ANTHONY TRAIL, NORTHBROOK, IL 60062
Signing Officer
- Name
- Fulvio Calcinardi
- Title
- Executive Director
- Phone
- 3122180255
- Signed
- 2026-02-23
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Fulvio Calcinardi
- Formed
- 1907
- Legal Domicile
- Il
- Voting Board Members
- 9
- Independent Board Members
- 9
- Employees
- 2
Preparer
- Firm
- Rj Augustine & Associates Ltd
- Address
- 650 E ALGONQUIN ROAD SUITE 300, SCHAUMBURG, IL 60173
- Preparer
- Richard J Augustine
- Phone
- 8473300400
Supplemental Narrative
Additional Explanations
FORM 990 - ORGANIZATION'S MISSION
“See attached exhibit detailing specific organization activities mission statement the italian american chamber of commerce - midwest is a not-for-profit corporation existing under the laws of the state of illinois based in chicago and serving the following purposes: to promote, facilitate, and protect trade relations between the united states and italy. To promote the interests of italian american businessmen, and in particular, our own members. To encourage and guide the commercial and industrial aspirations of italian americans. To foster and encourage greater trade development between the united states and italy. To provide an exchange of information relative to business and commerce of the united states and italy and the potentialities of their development. To cooperate and participate in all matters which may contribute to strengthening the bonds of friendship between the united states and italy. To stimulate the interest of italians in italy, as well as in the united states, towards commercial and industrial conditions in the united states which would be most suitable to them. To promote friendly relations among our members and to foster a spirit of civic pride. To promote the adoption and application of sound business and professional standards for the betterment of the italian american business community. The iacc is one of five italian-american chambers of commerce. It also belongs to assocamerestero, a network of 75 italian chambers of commerce in 49 countries. The assocamestero offers chamber members discounts on products and services in italy and around the world. The italian american chamber of commerce is an association of professionals and businesses. It is not a political organization and respects the political views of its individual members and their right to express those views. However, the chamber, as a body, shall neither formally endorse nor promote any political party, candidate or view.”
Form 990, Page 2, Part III, Line 4D
“To provide civic, business and social activities-see detail of significant activities in exhibit i”
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | true |
| IRS990/ReportOtherLiabilitiesInd | 0 | false |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/ScheduleBRequiredInd | 0 | false |
| IRS990ScheduleC/AgreeCarryoverPriorYearInd | 0 | false |
| IRS990ScheduleC/OnlyInHouseLobbyingInd | 0 | false |
| IRS990ScheduleC/SubstantiallyAllDuesNondedInd | 0 | false |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 40171 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | RENT - DEPOSIT |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 89776 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 89776 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 40171 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | false |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | SEE ATTACHED EXHIBIT DETAILING SPECIFIC ORGANIZATION ACTIVITIES MISSION STATEMENT THE ITALIAN AMERICAN CHAMBER OF COMMERCE - MIDWEST IS A NOT-FOR-PROFIT CORPORATION EXISTING UNDER THE LAWS OF THE STATE OF ILLINOIS BASED IN CHICAGO AND SERVING THE FOLLOWING PURPOSES: TO PROMOTE, FACILITATE, AND PROTECT TRADE RELATIONS BETWEEN THE UNITED STATES AND ITALY. TO PROMOTE THE INTERESTS OF ITALIAN AMERICAN BUSINESSMEN, AND IN PARTICULAR, OUR OWN MEMBERS. TO ENCOURAGE AND GUIDE THE COMMERCIAL AND INDUSTRIAL ASPIRATIONS OF ITALIAN AMERICANS. TO FOSTER AND ENCOURAGE GREATER TRADE DEVELOPMENT BETWEEN THE UNITED STATES AND ITALY. TO PROVIDE AN EXCHANGE OF INFORMATION RELATIVE TO BUSINESS AND COMMERCE OF THE UNITED STATES AND ITALY AND THE POTENTIALITIES OF THEIR DEVELOPMENT. TO COOPERATE AND PARTICIPATE IN ALL MATTERS WHICH MAY CONTRIBUTE TO STRENGTHENING THE BONDS OF FRIENDSHIP BETWEEN THE UNITED STATES AND ITALY. TO STIMULATE THE INTEREST OF ITALIANS IN ITALY, AS WELL AS IN THE UNITED STATES, TOWARDS COMMERCIAL AND INDUSTRIAL CONDITIONS IN THE UNITED STATES WHICH WOULD BE MOST SUITABLE TO THEM. TO PROMOTE FRIENDLY RELATIONS AMONG OUR MEMBERS AND TO FOSTER A SPIRIT OF CIVIC PRIDE. TO PROMOTE THE ADOPTION AND APPLICATION OF SOUND BUSINESS AND PROFESSIONAL STANDARDS FOR THE BETTERMENT OF THE ITALIAN AMERICAN BUSINESS COMMUNITY. THE IACC IS ONE OF FIVE ITALIAN-AMERICAN CHAMBERS OF COMMERCE. IT ALSO BELONGS TO ASSOCAMERESTERO, A NETWORK OF 75 ITALIAN CHAMBERS OF COMMERCE IN 49 COUNTRIES. THE ASSOCAMESTERO OFFERS CHAMBER MEMBERS DISCOUNTS ON PRODUCTS AND SERVICES IN ITALY AND AROUND THE WORLD. THE ITALIAN AMERICAN CHAMBER OF COMMERCE IS AN ASSOCIATION OF PROFESSIONALS AND BUSINESSES. IT IS NOT A POLITICAL ORGANIZATION AND RESPECTS THE POLITICAL VIEWS OF ITS INDIVIDUAL MEMBERS AND THEIR RIGHT TO EXPRESS THOSE VIEWS. HOWEVER, THE CHAMBER, AS A BODY, SHALL NEITHER FORMALLY ENDORSE NOR PROMOTE ANY POLITICAL PARTY, CANDIDATE OR VIEW. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | TO PROVIDE CIVIC, BUSINESS AND SOCIAL ACTIVITIES-SEE DETAIL OF SIGNIFICANT ACTIVITIES IN EXHIBIT I |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | NO REVIEW WAS OR WILL BE CONDUCTED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC IF REQUESTED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC IF REQUESTED. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990 - ORGANIZATION'S MISSION |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 2, PART III, LINE 4D |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 18 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990/SchoolOperatingInd | 0 | false |
| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | true |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsBOYAmt | 0 | 630689 |
| IRS990/TotalAssetsEOYAmt | 0 | 468921 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 630689 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 468921 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalContributionsAmt | 0 | 8549 |
| IRS990/TotalEmployeeCnt | 0 | 2 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 1521863 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 1521863 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 604352 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 459741 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 604352 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 459741 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 26337 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 9180 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 1496157 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 1496157 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 1504706 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 630689 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 468921 |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | false |
| IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt | 0 | 547000 |
| IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt | 0 | 447000 |
| IRS990/USAddress/AddressLine1Txt | 0 | 3800 DIVISION STREET |
| IRS990/USAddress/CityNm | 0 | STONE PARK |
| IRS990/USAddress/StateAbbreviationCd | 0 | IL |
| IRS990/USAddress/ZIPCd | 0 | 60165 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 9 |
| IRS990/VotingMembersIndependentCnt | 0 | 9 |
| IRS990/WebsiteAddressTxt | 0 | IACC-CHICAGO.COM |
| IRS990/WhistleblowerPolicyInd | 0 | false |
| ReturnHeader/BuildTS | 0 | 2025-03-06 01:10:19Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | true |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | FULVIO CALCINARDI |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | EXECUTIVE DIRECTOR |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 3122180255 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2026-02-23 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | ITALIAN AMERICAN CHAMBER OF COMMERC |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | ITAL |
| ReturnHeader/Filer/EIN | 0 | 362256398 |
| ReturnHeader/Filer/PhoneNum | 0 | 3122180255 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 728 ANTHONY TRAIL |
| ReturnHeader/Filer/USAddress/CityNm | 0 | NORTHBROOK |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | IL |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 60062 |
| ReturnHeader/IRSResponsiblePrtyInfoCurrInd | 0 | false |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 363657241 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | RJ AUGUSTINE & ASSOCIATES LTD |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 650 E ALGONQUIN ROAD SUITE 300 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | SCHAUMBURG |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | IL |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 60173 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 8473300400 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2026-02-23 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | RICHARD J AUGUSTINE |
| ReturnHeader/ReturnTs | 0 | 2026-03-05T14:53:08-05:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2024-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2024-12-31 |
| ReturnHeader/TaxYr | 0 | 2024 |
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