International Federation Of Accountants
- Assets
- $27.3m
- Revenue
- $43.8m
- Investments
- $0.0
- Employees
- 63
- Location
- New York, NY
- Founding
- 05/1994
- Data as of
- 12/2023
- EIN
- 13-2915461
Organization Overview
International Federation Of Accountants is located in New York, NY. The organization was established in 1994. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 12/2023, International Federation Of Accountants employed 63 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Federation Of Accountants is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, International Federation Of Accountants generated $43.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $43.9m during the year ending 12/2023. While expenses have increased by 4.0% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
IFAC ACTS IN THE PUBLIC INTEREST AND HAS NO PROFIT-MAKING PURPOSE. IFAC SERVES THE PUBLIC INTEREST BY: SPEAKING OUT AND ENGAGING AS THE VOICE FOR THE GLOBAL PROFESSION; LEADING AND DEVELOPING A FUTURE-READY ACCOUNTANCY PROFESSION; AND CONTRIBUTING TO AND PROMOTING THE DEVELOPMENT, ADOPTION AND IMPLEMENTATION OF HIGH-QUALITY INTERNATIONAL STANDARDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IFAC IS THE GLOBAL ORGANIZATION FOR THE ACCOUNTANCY PROFESSION DEDICATED TO SERVING THE PUBLIC INTEREST BY STRENGTHENING THE PROFESSION AND CONTRIBUTING TO THE DEVELOPMENT OF STRONG INTERNATIONAL ECONOMIES. IFAC IS COMPRISED OF MORE THAN 180 MEMBERS AND ASSOCIATES IN MORE THAN 135 JURISDICTIONS, REPRESENTING MORE THAN 3 MILLION ACCOUNTANTS IN PUBLIC PRACTICE, EDUCATION, GOVERNMENT SERVICE, INDUSTRY, AND COMMERCE. IFAC CONTRIBUTES TO AND SUPPORTS THE DEVELOPMENT, ADOPTION, AND IMPLEMENTATION OF HIGH-QUALITY INTERNATIONAL STANDARDS, LEADS AND DEVELOPS A FUTURE-READY ACCOUNTANCY PROFESSION, AND SPEAKS OUT AND ENGAGES AS THE VOICE FOR THE GLOBAL ACCOUNTING PROFESSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Asmaa Resmouki President | OfficerTrustee | 16 | $0 |
Jean Bouquot Deputy President | OfficerTrustee | 2 | $0 |
Yeong Kyun Ahn Board Member | Trustee | 2 | $0 |
Gregory Anton Board Member | Trustee | 2 | $0 |
Tashia Batstone Board Member | Trustee | 2 | $0 |
Kathryn Byrne Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ian Carruthers Ipsasb Chair | 12/30/23 | $258,982 |
Velocity Global Llc Pr Professional Services | 12/30/23 | $937,454 |
Finn Partners Inc Website Buildout | 12/30/23 | $188,899 |
Ffw Llc Website Services | 12/30/23 | $130,495 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $19,332,500 |
| Fundraising events | $0 |
| Related organizations | $21,997,857 |
| Government grants | $350,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $896,288 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,576,645 |
| Total Program Service Revenue | $0 |
| Investment income | $166,279 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $372,216 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$26,910 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$214 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,752,070 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,287,992 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,033,268 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,703,568 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,495,028 |
| Pension plan accruals and contributions | $542,701 |
| Other employee benefits | $2,305,316 |
| Payroll taxes | $477,496 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $211,073 |
| Fees for services: Accounting | $159,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,226,872 |
| Advertising and promotion | $28,582 |
| Office expenses | $66,708 |
| Information technology | $1,233,618 |
| Royalties | $0 |
| Occupancy | $1,327,060 |
| Travel | $1,139,705 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $830,984 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $646,038 |
| Insurance | $145,125 |
| All other expenses | $658,066 |
| Total functional expenses | $43,938,047 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,712,476 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $149,239 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $449,802 |
| Net Land, buildings, and equipment | $797,271 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,138,239 |
| Other assets | $7,006,277 |
| Total assets | $27,253,304 |
| Accounts payable and accrued expenses | $2,046,012 |
| Grants payable | $5,066,042 |
| Deferred revenue | $447,845 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,459,156 |
| Total liabilities | $10,019,055 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $17,234,249 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $27,253,304 |