Institute Of Internal Auditors is located in Lake Mary, FL. The organization was established in 1992. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Institute Of Internal Auditors employed 242 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Institute Of Internal Auditors 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 12/2021, Institute Of Internal Auditors generated $59.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $50.9m during the year ending 12/2021. While expenses have increased by 1.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE DYNAMIC LEADERSHIP FOR THE GLOBAL PROFESSION OF INTERNAL AUDITING.ACTIVITIES IN SUPPORT OF THIS MISSION WILL INCLUDE, BUT WILL NOT BE LIMITED TO:* ADVOCATING AND PROMOTING THE VALUE INTERNAL AUDIT PROFESSIONALS ADD TO THEIR ORGANIZATIONS.* PROVIDING COMPREHENSIVE PROFESSIONAL EDUCATIONAL AND DEVELOPMENT OPPORTUNITIES, STANDARDS AND OTHER PROFESSIONAL PRACTICE GUIDANCE, AND CERTIFICATION PROGRAMS.* RESEARCHING, DISSEMINATING, AND PROMOTING KNOWLEDGE CONCERNING INTERNAL AUDITING AND ITS APPROPRIATE ROLE IN CONTROL, RISK MANAGEMENT, AND GOVERNANCE TO PRACTITIONERS AND STAKEHOLDERS.* EDUCATING PRACTITIONERS AND OTHER RELEVANT AUDIENCES ON BEST PRACTICES IN INTERNAL AUDITING.* BRINGING TOGETHER INTERNAL AUDITORS FROM ALL COUNTRIES TO SHARE INFORMATION AND EXPERIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRAINING AND EDUCATION FOR INTERNAL AUDITORS
PUBLICATIONS WHICH INFORM INTERNAL AUDITORS AND IIA MEMBERS OF CURRENT PROFESSIONAL ISSUES, STANDARDS, AND PRACTICES
OFFERING EXAMINATIONS ON PROFESSIONAL ISSUES AND CERTIFYING THOSE WHO DEMONSTRATE ACCEPTABLE PERFORMANCE
QUALITY SERVICES:THE MISSION OF QUALITY SERVICES IS TO ELEVATE THE PROFESSIONALISM WITHIN INTERNAL AUDITING. PROPER ELEVATION BEGINS AND ENDS WITH ALIGNMENT OF THE IIA'S INTERNATIONAL STANDARDS FOR THE PROFESSIONAL PRACTICE OF INTERNAL AUDITING, CORE PRINCIPLES, AND THE CODE OF ETHICS. OUR ASSESSMENT PROCESS IDENTIFIES IMPROVEMENT OPPORTUNITIES, COUNSEL TO THE CHIEF AUDIT EXECUTIVE (CAE) FOR SUCCESSFUL PRACTICE IMPLEMENTATION, AS WELL AS PROMOTING THE CREDIBILITY OF THE INTERNAL AUDIT ACTIVITY WITH YOUR STAKEHOLDERS. SERVICES PROVIDED:READINESS ASSESSMENT - IDENTIFIES RISKS TO CONFORMANCE WITH STANDARDS, PROVIDES A BASELINE FOR NEW CHIEF AUDIT EXECUTIVES, AND SUPPORT FOR CREATING A SUCCESSFUL QUALITY ASSURANCE AND IMPROVEMENT PROGRAM (QAIP).SELF-ASSESSMENT WITH INDEPENDENT VALIDATION (SAIV) -APPROACH MEETS THE REQUIREMENTS OF THE STANDARDS FOR AN EXTERNAL ASSESSMENT ONCE EVERY FIVE YEARS.QUALITY ASSESSMENT (QA) - THE MOST COMPREHENSIVE APPROACH SUPPORTS NOT ONLY CONFORMANCE, BUT PROVIDES AN OBJECTIVE ASSESSMENT OF THE ORGANIZATIONS INTERNAL AUDIT ACTIVITY'S EFFECTIVENESS.QUALITY ASSURANCE AND IMPROVEMENT PROGRAM (QAIP) IS REQUIRED ACCORDING TO THE STANDARDS:QUALITY SERVICES IS ALIGNED WITH THE OVERALL MISSION OF THE IIA BY PROMOTING THE VALUE THAT INTERNAL AUDIT PROFESSIONALS ADD TO THEIR ORGANIZATION, ALIGNMENT WITH THE INTERNATIONAL STANDARDS PROMULGATED BY THE IIA AND EDUCATING PRACTITIONERS ON BEST PRACTICES IN INTERNAL AUDITING.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Richard F Chambers President & CEO (thru 03/2021) | OfficerTrustee | 40 | $1,071,209 |
Anthony Pugliese President & CEO (as Of 03/2021) | OfficerTrustee | 40 | $701,852 |
William Michalisin Evp & COO | Officer | 40 | $606,271 |
Charles Redding Evp & Cio | 40 | $461,989 | |
Ann S Cohen Evp & CFO | Officer | 40 | $449,426 |
Monica Griffin SVP & Chief Marketing Offi | Officer | 40 | $334,266 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Ncs Pearson Inc Professional Testing Services | 12/30/21 | $2,684,013 |
P & M Tech Solution Informational Technology | 12/30/21 | $773,593 |
Right Point Consulting Llc Informational Technology | 12/30/21 | $562,928 |
The Cosmopolitan Las Vegas Event Services | 12/30/21 | $430,045 |
Intrado Digital Media Virtual Platform Services | 12/30/21 | $420,337 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $55,917,896 |
Investment income | $1,827,162 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $356,683 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $1,260,243 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $59,361,984 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $91,405 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $49,730 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $4,194,333 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $16,401,726 |
Pension plan accruals and contributions | $1,252,539 |
Other employee benefits | $2,658,068 |
Payroll taxes | $1,324,634 |
Fees for services: Management | $0 |
Fees for services: Legal | $153,807 |
Fees for services: Accounting | $84,800 |
Fees for services: Lobbying | $61,500 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $185,586 |
Fees for services: Other | $9,616,187 |
Advertising and promotion | $252,764 |
Office expenses | $2,945,604 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $1,414,788 |
Travel | $1,247,422 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $3,547,515 |
Depreciation, depletion, and amortization | $2,113,971 |
Insurance | $249,337 |
All other expenses | $64,293 |
Total functional expenses | $50,875,744 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $23,337,574 |
Savings and temporary cash investments | $1,051,129 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $2,887,757 |
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 | $8,444,426 |
Net Land, buildings, and equipment | $4,731,489 |
Investments—publicly traded securities | $0 |
Investments—other securities | $60,345,295 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $554,022 |
Total assets | $101,351,692 |
Accounts payable and accrued expenses | $8,440,314 |
Grants payable | $0 |
Deferred revenue | $13,904,234 |
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 | $2,264,062 |
Total liabilities | $24,608,610 |
Net assets without donor restrictions | $76,743,082 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
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 | $101,351,692 |
Over the last fiscal year, Institute Of Internal Auditors has awarded $85,007 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
Lake Mary, FL PURPOSE: COMMON BODY OF KNOWLEDGE RESEARCH PROJECT | $80,007 |
Durham, NC PURPOSE: GENERAL SUPPORT | $5,000 |
Organization Name | Assets | Revenue |
---|---|---|
North American Electric Reliabilitycorporation Atlanta, GA | $65,227,333 | $81,782,902 |
Gsma Ltd Atlanta, GA | $262,728,803 | $123,320,595 |
Institute Of Internal Auditors Lake Mary, FL | $101,351,692 | $59,361,984 |
Florida Association Of Realtors Orlando, FL | $96,568,925 | $47,578,542 |
Southern Motor Carriers Association Inc Peachtree City, GA | $87,365,051 | $35,375,343 |
American Welding Society Inc Miami, FL | $147,619,451 | $41,705,708 |
American Society Of Heating Refrigerating & A-C Engineers Peachtree Corners, GA | $58,779,760 | $22,960,689 |
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Icamr Inc Neocity, FL | $16,807,579 | $18,482,877 |
Nassau-Paradise Island Promotion Board Ltd Plantation, FL | $7,848,897 | $14,831,769 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |
Osceola Convention And Visitors Bureau Inc Kissimmee, FL | $12,721,814 | $18,220,107 |