American Institute Of Business
- Assets
- $1.1m
- Revenue
- $11.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Des Moines, IA
- Founding
- 01/1943
- Data as of
- 08/2020
- EIN
- 42-0681067
Organization Overview
American Institute Of Business is located in Des Moines, IA. The organization was established in 1943. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Institute Of Business is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2020, American Institute Of Business generated $11.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (62.6%) each year. All expenses for the organization totaled $105.7k during the year ending 08/2020. As we would expect to see with falling revenues, expenses have declined by (56.1%) per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
EFFECTIVE JUNE 30, 2016 AMERICAN INSTITUTE OF BUSINESS CEASED OPERATIONS PURSUANT TO THE TERMS OF A GIFT AGREEMENT DATED OCTOBER 30, 2015 WITH THE UNIVERSITY OF IOWA. IN WINDING DOWN THE OPERATIONS THERE ARE EXPENSES RELATED TO THE SERVICES AMERICAN INSTITUTE OF BUSINESS PROVIDED TO STUDENTS AS PART OF THEIR ACCREDITED EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Costa Trustee | Trustee | 0 | $0 |
Paul Brown Trustee | Trustee | 0 | $0 |
Randy Forburger Trustee | Trustee | 0 | $0 |
Nancy Williams President | Officer | 40 | $83,333 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alliance Technology Contract Labor - It | 8/30/16 | $332,791 |
Robert Half Technology Contract Labor - It | 8/30/16 | $128,310 |
Oracle Credit Software | 8/30/16 | $118,490 |
Nyemastergoode Pc Legal | 8/30/16 | $122,003 |
Per Mar Security Security | 8/30/16 | $112,870 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $11,700 |
| 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 | $11,700 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $83,333 |
| 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 | $6,978 |
| Fees for services: Accounting | $1,985 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $69 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,354 |
| All other expenses | $0 |
| Total functional expenses | $105,726 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $609,884 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $450,000 |
| Total assets | $1,059,884 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,059,884 |