Civic Intelligence

IL Circolo Inc.

990 • Fiscal year 2018 • EIN 59-1742639

Jun 01, 2017 to May 31, 2018 • Filed on Nov 16, 2018

7411 Modena DriveBoynton Beach, FL 33437

(561) 200-6300

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

57th percentile

0.00x

Higher debt load relative to assets than 57% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

57th percentile

0.00x

Higher debt load relative to revenue than 57% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

69th percentile

14%

Higher net margin than 69% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

66th percentile

13%

Faster asset growth than 66% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

84th percentile

44%

Faster revenue growth than 84% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Up

$127,855

Up $14,617 (+13%) from 2017

Net Assets

Up

$127,772

Up $14,534 (+13%) from 2017

Liabilities

Up

$83

Up $83 from 2017

Revenue

Up

$108,930

Up $33,487 (+44%) from 2017

Expenses

Up

$93,486

Up $24,841 (+36%) from 2017

Net Income

Up

$15,444

Up $8,646 (+127%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2012: $96,479Liabilities 2012: $10,4792012Assets 2013: $137,137Liabilities 2013: $10,0222013Assets 2014: $134,723Liabilities 2014: $4,9202014Assets 2015: $93,567Liabilities 2015: $13,4802015Assets 2016: $130,170Liabilities 2016: $02016Assets 2017: $113,238Liabilities 2017: $0Net Assets 2017: $113,2382017Assets 2018: $127,855Liabilities 2018: $83Net Assets 2018: $127,7722018Assets 2019: $126,158Liabilities 2019: $12,666Net Assets 2019: $113,4922019Assets 2020: $143,652Liabilities 2020: $537Net Assets 2020: $143,1152020Assets 2021: $132,501Liabilities 2021: $0Net Assets 2021: $132,5012021Assets 2022: $185,623Liabilities 2022: $0Net Assets 2022: $185,6232022Assets 2023: $133,863Liabilities 2023: $15,010Net Assets 2023: $118,8532023Assets 2024: $206,662Liabilities 2024: $6,365Net Assets 2024: $200,2972024Assets 2025: $382,569Liabilities 2025: $52,846Net Assets 2025: $329,7232025

Highlighted filing

2018

Assets$127,855
Liabilities$83
Net Assets$127,772

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2012: $72,184Expenses 2012: $71,210Net Income 2012: $9742012Revenue 2013: $116,060Expenses 2013: $74,945Net Income 2013: $41,1152013Revenue 2014: $93,671Expenses 2014: $91,068Net Income 2014: $2,6032014Revenue 2015: $60,380Expenses 2015: $110,376Net Income 2015: -$49,9962015Revenue 2016: $120,618Expenses 2016: $61,080Net Income 2016: $59,5382016Revenue 2017: $75,443Expenses 2017: $68,645Net Income 2017: $6,7982017Revenue 2018: $108,930Expenses 2018: $93,486Net Income 2018: $15,4442018Revenue 2019: $69,439Expenses 2019: $83,719Net Income 2019: -$14,2802019Revenue 2020: $117,513Expenses 2020: $87,890Net Income 2020: $29,6232020Revenue 2021: $32,150Expenses 2021: $43,114Net Income 2021: -$10,9642021Revenue 2022: $149,756Expenses 2022: $96,634Net Income 2022: $53,1222022Revenue 2023: $46,387Expenses 2023: $113,157Net Income 2023: -$66,7702023Revenue 2024: $271,491Expenses 2024: $189,788Net Income 2024: $81,7032024Revenue 2025: $292,460Expenses 2025: $158,875Net Income 2025: $133,5852025

Highlighted filing

2018

Revenue$108,930
Expenses$93,486
Net Income$15,444
Jump To
Filing Snapshot
Filing Period
Jun 1, 2017 to May 31, 2018
Signed
Nov 16, 2018
Return Version
2017v2.3
Gross Receipts
$201,780
Mission and Program Overview

Mission

Support and promote italian arts and culture

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$113,238$127,855▲ $14,617
Total Assets$113,238$127,855▲ $14,617
Liabilities
Accounts Payable and Accrued Expenses-$83-
Total Liabilities$0$83▲ $83
Net Assets / Fund Balance
Unrestricted Net Assets$100,479$119,913▲ $19,434
Temporarily Rstr Net Assets$12,759$7,859▼ $4,900
Total Net Assets Fund Balance$113,238$127,772▲ $14,534
Total Liabilities and Net Assets / Fund Balance$113,238$127,855▲ $14,617
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$27,144
Program Service Revenue
$60,138
Investment Income
$0
Other Revenue
$21,648
All Other Contributions
$18,119
Change in Net Assets
$15,444
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$55,186
Grants and Similar Amounts Paid$38,300
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$32,965--$32,965
Grants to Domestic Orgs$23,300--$23,300
Grants to Domestic Individuals$15,000--$15,000
Office Expenses$2,950$5,657-$8,607
Fees for Services Accounting-$7,428-$7,428
Information Technology-$2,805-$2,805
Travel-$1,792-$1,792
Occupancy-$820-$820
Advertising-$769-$769
Total Functional Expenses$74,215$19,271$0$93,486
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Culinary Institute of AmericaHyde Park, NY501c3Valenti Scholarship$12,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$113,631
Fundraising Direct Expenses$92,850
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$122,656$113,631$92,850$20,781
Total Events$122,656$113,631$92,850$20,781
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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

The president reviews the form 990 prior to filing.

Form 990, Page 6, Part VI, Line 19

Documents are available upon request

Filing and Contact Details

Filer

Filer Name
Il Circolo Inc
EIN
59-1742639
Phone
5612006300
Address
7411 MODENA DRIVE, BOYNTON BEACH, FL 33437

Signing Officer

Name
Paul Finizio
Title
President
Phone
5612006300
Signed
2018-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Finizio
Formed
1977
Legal Domicile
Fl
Voting Board Members
17
Independent Board Members
17
Employees
0
Volunteers
30

Preparer

Firm
Carroll and Company Cpas
Address
2640-A MITCHAM DRIVE, TALLAHASSEE, FL 32308
Preparer
Kathleen E Brothers
Phone
8508771099
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Board members and others help with various events

Form 990, Page 2, Part III, Line 4B

Furthermore, il circolo contributes to the support of italian language courses at public and private schools, such as lake worth high school, pope john paul ii high school, and st. Andrews school. Involvement in the arts is epitomized by il circolo's annual granting of the "maestro anton guadagno award" (formerly called the "giuseppe verdi award") to one of the winners of the annual palm beach opera vocal competition.

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IRS990/ProgSrvcAccomActy2Grp/Desc0ITALIAN CULTURE IS PART OF THE MOSAIC OF OUR DAILY LIVES, INFLUENCING OUR VISION OF ART, BEAUTY, FASHION, DESIGN, ARCHITECTURE, CUISINE, NATURE, LANGUAGE, POETRY, PHILOSOPHY, THOUGHT, OPERA, AND MUSIC. SINCE THE BEGINNING, ANNUAL SCHOLARSHIPS HAVE BEEN GIVEN TO QUALIFIED STUDENTS TO STUDY IN ITALY. IN ADDITION, THE ORGANIZATION HAS BEEN A MAJOR SUPPORT OF FLORIDA ATLANTIC UNIVERSITY'S ITALIAN STUDIES PROGRAM, ONE OF THE ONLY TWO MAJOR PROGRAMS IN THE FLORIDA STATE UNIVERSITY SYSTEM. IL CIRCOLO HAS CONTRIBUTED TO A PROGRAM RELATED TO ITALIAN USAGE IN THE ARTS AT PALM BEACH ATLANTIC UNIVERSITY. DONATIONS HAVE ALSO BEEN MADE TO THE HIGHLY SPECIALIZED ALEXANDER W DREYFOOS JR SCHOOL OF ARTS. FURTHERMORE, IL CIRCOLO CONTRIBUTES TO THE SUPPORT OF ITALIAN LANGUAGE COURSES AT PUBLIC AND PRIVATE SCHOOLS, SUCH AS LAKE WORTH HIGH SCHOOL, POPE JOHN PAUL II HIGH SCHOOL, AND ST. ANDREWS SCHOOL. INVOLVEMENT IN THE ARTS IS EPITOMIZED BY IL CIRCOLO'S ANNUAL GRANTING OF THE "MAESTRO ANTON GUADAGNO AWARD" (FORMERLY CALLED THE "GIUSEPPE VERDI AWARD") TO ONE OF THE WINNERS OF THE ANNUAL PALM BEACH OPERA VOCAL COMPETITION.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt038300
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IRS990/ReconcilationRevenueExpnssAmt015444
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0120067
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ANNUAL GALA
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IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt015000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0STUDENT SCHOLARSHIP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt08
IRS990ScheduleI/RecipientTable/CashGrantAmt012000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0VALENTI SCHOLARSHIP
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CULINARY INSTITUTE OF AMERICA
IRS990ScheduleI/RecipientTable/RecipientEIN0060653264
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01946 CAMPUS DRIVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0HYDE PARK
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd0125381499
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE DEADLINE FOR SCHOLARSHIP APPLICATIONS EACH YEAR IS MARCH 15. THE SCHOLARSHIP PROGRAM FOR THE IL CIRCOLO SOCIETY INCORPORATES THE TRUE MEANING OF OUR MISSION STATEMENT "TO PRESERVE AND PROMOTE THE ITALIAN CULTURE THROUGH EDUCATION, ART AND MUSIC". WHAT BETTER WAY TO PERFORM THIS THAN BY FOSTERING EDUCATION OF OUR YOUNG PEOPLE. OUR SCHOLARSHIPS ARE OFFERED TO FLORIDA RESIDENTS, WITH SOME ITALIAN FAMILY BACKGROUND, A HIGH SCHOLASTIC AVERAGE AND A STRONG DESIRE TO FOSTER ITALIAN CULTURE. STUDENTS WHO RECEIVE OUR SCHOLARSHIPS MAY ALSO APPLY TO THE NATIONAL ORGANIZATION OF ITALIAN AMERICAN NIAF FOR A MATCHING SCHOLARSHIP. A 3.5 GPA IS REQUIRED FOR BOTH IL CIRCOLO AND NIAF SCHOLARSHIPS. SCHOLARSHIPS RANGE FROM 500 TO 2,500 TO BE CONSIDERED FOR A IL CIRCOLO SCHOLARSHIP, A STUDENT MUST MEET THE FOLLOWING CRITERIA: - BE A MEMBER OF IL CIRCOLO OR HAVE A PARENT, GUARDIAN OR GRANDPARENT WHO IS A MEMBER OF IL CIRCOLO. NOT A MEMBER THEN VISIT OUR "JOIN US" PAGE TO JOIN OR RENEW YOUR MEMBERSHIP TODAY. - BE ENROLLED IN A UNITED STATES ACCREDITED INSTITUTION OF HIGHER EDUCATION FOR THE FALL SEMESTER OF THE CURRENT YEAR. - HAVE A GRADE-POINT AVERAGE OF AT LEAST 3.5 OUT OF 4.0 (OR EQUIVALENT). STUDENTS THAT ARE A PART OF A PASS-FAIL SYSTEM ARE ALSO ELIGIBLE TO APPLY - BE A UNITED STATES CITIZEN OR PERMANENT RESIDENT ALIEN - FOR THE PURPOSES OF THE IL CIRCOLO SCHOLARSHIP PROGRAM, TO BE CONSIDERED "ITALIAN AMERICAN", THE STUDENT MUST HAVE AT LEAST ONE ANCESTOR WHO HAS IMMIGRATED FROM ITALY EACH SCHOLARSHIP AWARD CAN ONLY COVER TUITION AND UNIVERSITY-PROVIDED ROOM AND BOARD. SCHOLARSHIP RECIPIENTS ARE ELIGIBLE FOR ONE YEAR OF SCHOLARSHIP SUPPORT. SCHOLARSHIP MONIES NOT USED DURING ONE ACADEMIC YEAR ARE NOT TRANSFERABLE TO THE FOLLOWING ACADEMIC YEAR. SCHOLARSHIP APPLICANTS AND WINNERS CAN AND ARE ENCOURAGED TO REAPPLY IN SUBSEQUENT YEARS. BASIC APPLICATION REQUIREMENTS THE IL CIRCOLO REQUIRES THE FOLLOWING BASIC REQUIREMENTS FOR THE APPLICATION TO BE CONSIDERED "COMPLETE- AND ELIGIBLE FOR CONSIDERATION. - AN ACTIVE IL CIRCOLO MEMBERSHIP EITHER IN THE NAME OF THE APPLICANT, A PARENT/GUARDIAN OR A GRANDPARENT - COMPLETED ONLINE APPLICATION FORM - RECENT TRANSCRIPT(S) (EITHER OFFICIAL OR UNOFFICIAL) - (1) LETTER OF RECOMMENDATION - STUDENTS APPLYING FOR NEED-BASED SCHOLARSHIPS WILL BE REQUIRED TO UPLOAD THEIR FAFSA STUDENT AID REPORT (SAR)
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD MEMBERS AND OTHERS HELP WITH VARIOUS EVENTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FURTHERMORE, IL CIRCOLO CONTRIBUTES TO THE SUPPORT OF ITALIAN LANGUAGE COURSES AT PUBLIC AND PRIVATE SCHOOLS, SUCH AS LAKE WORTH HIGH SCHOOL, POPE JOHN PAUL II HIGH SCHOOL, AND ST. ANDREWS SCHOOL. INVOLVEMENT IN THE ARTS IS EPITOMIZED BY IL CIRCOLO'S ANNUAL GRANTING OF THE "MAESTRO ANTON GUADAGNO AWARD" (FORMERLY CALLED THE "GIUSEPPE VERDI AWARD") TO ONE OF THE WINNERS OF THE ANNUAL PALM BEACH OPERA VOCAL COMPETITION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PRESIDENT REVIEWS THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalGrossUBIAmt00
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.83$0.53$3.30$2.92$1.59$1.34
2024Detailed filing. Detailed filing data is available for this year.$2.07$0.06$2.00$2.71$1.90$0.82
2023Detailed filing. Detailed filing data is available for this year.$1.34$0.15$1.19$0.46$1.13$0.67
2022Detailed filing. Detailed filing data is available for this year.$1.86$0.00$1.86$1.50$0.97$0.53
2021Detailed filing. Detailed filing data is available for this year.$1.33$0.00$1.33$0.32$0.43$0.11
2020Detailed filing. Detailed filing data is available for this year.$1.44$0.01$1.43$1.18$0.88$0.30
2019Detailed filing. Detailed filing data is available for this year.$1.26$0.13$1.13$0.69$0.84$0.14
2018Detailed filing. Detailed filing data is available for this year.$1.28$0.00$1.28$1.09$0.93$0.15
2017Summary only. Only limited summary data is available for this year.$1.13$0.00$1.13$0.75$0.69$0.07
2016Summary only. Only limited summary data is available for this year.$1.30$0.00$1.21$0.61$0.60
2015Summary only. Only limited summary data is available for this year.$0.94$0.13$0.60$1.10$0.50
2014Summary only. Only limited summary data is available for this year.$1.35$0.05$0.94$0.91$0.03
2013Summary only. Only limited summary data is available for this year.$1.37$0.10$1.16$0.75$0.41
2012Summary only. Only limited summary data is available for this year.$0.96$0.10$0.72$0.71$0.01