Institue Of Internal Auditors
- Assets
- $1.2m
- Revenue
- $470.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 01/1992
- Data as of
- 05/2024
- EIN
- 23-7408092
Organization Overview
Institue Of Internal Auditors is located in Chicago, IL. The organization was established in 1992. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Institue 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 05/2024, Institue Of Internal Auditors generated $470.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $515.8k during the year ending 05/2024. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 7 years. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE IIA - CHICAGO CHAPTER IS A PROFESSIONAL ORGANIZATION DEDICATED TO SERVING ITS MEMBERS THROUGH ACTIVITIES SUCH AS PROFESSIONAL TRAINING EDUCATION, INTERNAL AUDIT THOUGHT LEADERSHIP, AND THE ADVANCEMENT OF THE INTERNAL AUDIT PROFESSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUALLY, THE IIA CHICAGO CHAPTER HOSTS ITS ANNUAL SEMINAR WHICH IS A FULL DAY OF PROFESSIONAL EDUCATION COURSES IN THE INTERNAL AUDIT FIELD. MEMBERS AND NON-MEMBERS ARE REQUIRED TO PAY A SET REGISTRATION FEE FOR THESE COURSES, FOR WHICH PARTICIPANTS RECEIVE CONTINUING PROFESSIONAL EDUCATION (CPE) CREDITS, WHICH ARE A REQUIREMENT OF MANY COMPANIES AND CERTIFICATION ORGANIZATIONS, SUCH AS THE AICPA, THE IIA AND ISACA.
ON AN ANNUAL BASIS THE IIA CHICAGO HOSTS A TWO DAY CYBERSECURITY CONFERENCE FOR MEMBERS AND NON-MEMBERS. THE GOAL OF THIS EVENT IS TO ADVANCE EDUCATION OF EMERGING CYBERSECURITY AND TECHNOLOGY RISKS AND PROVIDE CONTINUING PROFESSIONAL EDUCATION (CPE) TO OUR MEMBERS.
THROUGHOUT THE YEAR, THE IIA CHICAGO HOSTS A NUMBER OF EDUCATIONAL SESSIONS AND NETWORKING EVENTS FOR ITS MEMBERS. THE GOAL OF THESE SEMINARS AND EVENTS IS TO PROMOTE OUR PROFESSIONL AND ALSO GIVE TRAINING AND SUPPLEMENTAL EDUCATION TO OUR MEMBERS IN THE FORM OF CPE CREDITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Puja Shah President | OfficerTrustee | 0 | $0 |
Eric Simaga SVP | OfficerTrustee | 0 | $0 |
Kristen Kelly VP Of Education | OfficerTrustee | 0 | $0 |
Sabrina Seminetta VP Operations | OfficerTrustee | 0 | $0 |
Natalie Covello Treasurer | OfficerTrustee | 0 | $0 |
Tiffany Mccoy Secretary | OfficerTrustee | 0 | $0 |
Financial Statements
| 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 | $417,270 |
| Investment income | $10,764 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $470,500 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $35,000 |
| Grants and other assistance to domestic individuals. | $10,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,695 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,303 |
| Advertising and promotion | $0 |
| Office expenses | $498 |
| Information technology | $8,478 |
| Royalties | $0 |
| Occupancy | $2,204 |
| Travel | $13,400 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $359,107 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $515,773 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $564,316 |
| Savings and temporary cash investments | $600,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $290 |
| 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 | $4,864 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,169,470 |
| Accounts payable and accrued expenses | $41,334 |
| Grants payable | $0 |
| Deferred revenue | $11,850 |
| 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 | $0 |
| Total liabilities | $53,184 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $707,291 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $408,995 |
| Total liabilities and net assets/fund balances | $1,169,470 |