Internal Audit Foundation

Organization Overview

Internal Audit Foundation is located in Lake Mary, FL. The organization was established in 1983. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2021, Internal Audit Foundation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Internal Audit Foundation 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 12/2021, Internal Audit Foundation generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Since 2017, Internal Audit Foundation has awarded 33 individual grants totaling $414,880. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

RESEARCH AND EDUCATION IN INTERNAL AUDITING

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE INTERNAL AUDIT FOUNDATION PRODUCES EDUCATIONAL PUBLICATIONS FOCUSED ON AIDING INTERNAL AUDIT PRACTITIONERS IN PERFORMING THEIR ROLE ADEQUATELY, IN ALIGNMENT WITH THE IIA'S STANDARDS FOR THE PROFESSION, AND BEST PRACTICES. THE IAF DEVELOPS AND SELLS PRODUCTS ADDRESSING THE FOLLOWING TOPIC AREAS: TECHNOLOGY, GOVERNANCE, RISK, AUDIT PRACTICE, LEADERSHIP, CERTIFICATION PREPARATION, AND MORE. IAF PUBLICATIONS ARE SOLD THROUGH THE IIA BOOKSTORE ONLINE, AS WELL AS, AT IIA CONFERENCE EVENTS DOMESTICALLY, IN CANADA, AND AT THE INTERNATIONAL CONFERENCE WHICH MAY BE HELD ABROAD. THE IAF MAY LICENSE THE PUBLICATIONS FOR TRANSLATION AND DISTRIBUTION BY ITS INTERNATIONAL AFFILIATES GLOBALLY.


THE FOUNDATION PROVIDES GRANTS TO EDUCATIONAL INSTITUTIONS WORLDWIDE THAT PARTICIPATE IN THE IIA'S INTERNAL AUDITING EDUCATION PARTNERSHIP (IAEP) PROGRAM WHICH WAS DEVELOPED TO RESPOND TO THE GROWING INTEREST IN INTERNAL AUDIT EDUCATION AT INSTITUTIONS OF HIGHER LEARNING. IAEP PROGRAM SCHOOLS TEACH AN INTERNAL AUDITING CURRICULUM WITHIN A DEGREE PROGRAM (UNDERGRADUATE OR POST-GRADUATE) ENDORSED BY THE IIA. THE FOUNDATION HAS AN ANNUAL GRANT CYCLE OPEN OCTOBER OF EACH YEAR IN WHICH SCHOOLS MAY APPLY FOR GRANTS TO SUPPORT ACTIVITIES RELATED TO THE FOLLOWING: * CURRICULUM DEVELOPMENT* PROGRAM GROWTH & MARKETING* MENTORSHIP AND PROGRAM GROWTH INITIATIVES* TEACHING ASSISTANTS* EDUCATOR AND STUDENT DEVELOPMENT* PROFESSIONAL CERTIFICATIONS FOR EDUCATORS* CONTINUING EDUCATION FOR EDUCATORS* FUNDING FOR STUDENTS TO ATTEND IIA SEMINAR AND CONFERENCE EVENTS


THE FOUNDATION CONDUCTS AND FUNDS RESEARCH ON THE INTERNAL AUDIT PROFESSION INCLUDING TRENDING PRACTICES OVER TIME AND RESEARCH ON THE IMPACT OF MACRO ECONOMIC, TECHNOLOGICAL, AND ENVIRONMENTAL FACTORS ON THE BUSINESS ENVIRONMENT AND SUBSEQUENTLY THE PROFESSION. PARTNERING WITH ACADEMICS AND PARTNER ORGANIZATIONS, THE IAF ISSUES WHITE PAPER, PRACTITIONER REPORTS, AND ACADEMIC RESEARCH PAPERS AS A RESULT OF ITS RESEARCH EFFORTS BASED ON BOTH QUANTITATIVE AND QUALITATIVE EFFORTS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Gleim Publications Inc
Publisher/printer
$194,342
Aicpa
Publisher/royalty Payments
$113,876
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$91,405
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$717,895
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$809,300
Total Program Service Revenue$0
Investment income $112,453
Tax Exempt Bond Proceeds $0
Royalties $14,480
Net Rental Income $0
Net Gain/Loss on Asset Sales $89,234
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $931,102
Miscellaneous Revenue$0
Total Revenue $1,956,569

Grants Awarded

Over the last fiscal year, Internal Audit Foundation has awarded $59,103 in support to 6 organizations.

Grant RecipientAmount

TEXAS A&M UNIVERSITY

PURPOSE: PROGRAM GROWTH/MENTORING/TEACHING ASSISTANTS EDUCATOR & STUDENT DEVELOPMENT

$12,103

UNIVERSITY NEVADA LAS VEGAS

Org PageRecipient Profile

Reno, NV

PURPOSE: TEACHING ASSISTANTS

$10,000

LOUISIANA STATE UNIVERSITY

PURPOSE: TEACHING ASSISTANTS

$10,000

SEATTLE UNIVERSITY

Org PageRecipient Profile

Seattle, WA

PURPOSE: CURRICULUM DEVELOPMENT; PROGRAM GROWTH AND MARKETING OPPORTUNITIES; TEACHING ASSISTANTS

$10,000

KENNESAW STATE UNIVERSITY RESEARCH & SERVICE FOUNDATION

PURPOSE: TEACHING ASSISTANTS

$9,000

BENTLEY UNIVERSITY IA

Org PageRecipient Profile

Waltham, MA

PURPOSE: CASE STUDY DEVELOPMENT AND TEACHING ASSISTANT

$8,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 4 grants that Internal Audit Foundation has recieved totaling $87,658.

Awarding OrganizationAmount
Network For Good Inc

Washington, DC

PURPOSE: UNRESTRICTED

$55,106
Institute Of Internal Auditors

Houston, TX

PURPOSE: Support for scholarships and research projects

$20,000
Silicon Valley Community Foundation

Mountain View, CA

PURPOSE: Education

$12,500
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$52
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$235,002
Earnings$22,207
Net Contributions$2,162
Ending Balance$259,371

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