Institute For Professionals In Taxation
- Assets
- $11.1m
- Revenue
- $4.8m
- Investments
- $2.6m
- Employees
- 16
- Location
- Atlanta, GA
- Founding
- 10/1985
- Data as of
- 12/2023
- EIN
- 52-1396078
Organization Overview
Institute For Professionals In Taxation is located in Atlanta, GA. The organization was established in 1985. According to its NTEE Classification (W22) the organization is classified as: Public Finance, Taxation & Monetary Policy, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Institute For Professionals In Taxation employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For Professionals In Taxation 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 12/2023, Institute For Professionals In Taxation generated $4.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $4.2m during the year ending 12/2023. While expenses have increased by 3.2% 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
THE INSTITUTE IS DEDICATED TO FOSTERING AND PROMOTING UNIFORM AND EQUITABLE ADMINISTRATION OF STATE AND LOCAL TAXATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL CONFERENCE- TWO AND ONE-HALF DAY PROGRAM FOR ALL MEMBERS WHICH OFFERS A FORUM FOR DISCUSSION ON CURRENT ISSUES AND EDUCATIONAL SESSIONS FOR MEMBERS. PROMOTES THE EXCHANGE OF INFORMATION AMONG MEMBERS.
SALES TAX EDUCATIONAL PROGRAMS- TWO SALES AND USE TAX SCHOOLS, SALES AND USE TAX SYMPOSIUM.
PROPERTY TAX EDUCATIONAL PROGRAMS - BASIC, REAL AND PERSONAL PROPERTY TAX SCHOOLS, AND PROPERTY TAX SYMPOSIUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anette Prehn Board Of Governors (p) | Trustee | 2 | $0 |
Kathleen M Lusk Board Of Governors (p) | Trustee | 2 | $0 |
Carlos V Hernandez Board Of Governors | Trustee | 2 | $0 |
Jan Nash Board Of Governors | Trustee | 2 | $0 |
Jack M Schindler Board Of Governors | Trustee | 2 | $0 |
Michelle Delappe Board Of Governors | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hilton Chicago Event Services & Accomodations | 12/30/23 | $399,356 |
Marriott Business Services Event Services & Accomodations | 12/30/23 | $342,395 |
Marriott Hotel Services Inc Event Services & Accomodations | 12/30/23 | $123,817 |
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 | $308,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $308,500 |
| Total Program Service Revenue | $4,343,954 |
| Investment income | $217,687 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$83,377 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,786,764 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $371,329 |
| Compensation of current officers, directors, key employees. | $148,532 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,004,567 |
| Pension plan accruals and contributions | $135,954 |
| Other employee benefits | $116,613 |
| Payroll taxes | $88,421 |
| Fees for services: Management | $3,338 |
| Fees for services: Legal | $9,274 |
| Fees for services: Accounting | $48,447 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,190 |
| Fees for services: Other | $4,560 |
| Advertising and promotion | $0 |
| Office expenses | $323,596 |
| Information technology | $93,741 |
| Royalties | $0 |
| Occupancy | $135,573 |
| Travel | $170,369 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,582,639 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $17,796 |
| All other expenses | $0 |
| Total functional expenses | $4,220,643 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,121,726 |
| Savings and temporary cash investments | $2,302,964 |
| 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 | $39,169 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,673,958 |
| Investments—other securities | $2,573,487 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $427,840 |
| Total assets | $11,139,144 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $172,127 |
| 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 | $417,520 |
| Total liabilities | $589,647 |
| Net assets without donor restrictions | $10,336,623 |
| Net assets with donor restrictions | $212,874 |
| 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 | $11,139,144 |