INTERNATIONAL COUNCIL OF SHOPPING … - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1989

Legal Domicile

Principal Officer

SEAN KRON

Phone

6467283607

Tax Period

2024-01-01 to 2024-12-31

INTERNATIONAL COUNCIL OF SHOPPING CENTERS FOUNDATION INC, founded in 1989, is a community nonprofit in the Education sector that reported $2.3M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $923K, a strong 40% operating margin.

Mission

THE ICSC FOUNDATION IS THE PHILANTHROPIC ARM OF ICSC DEDICATED TO CREATING A VIBRANT RETAIL REAL ESTATE INDUSTRY RESPONSIVE TO THE NEEDS OF ITS MEMBERS AND COMMUNITIES. ITS FOCUS IS BUILDING A PIPELINE OF OUTSTANDING TALENT THAT CAN EXCEL IN THE INDUSTRY.

Program Service Accomplishments

Program 1

Expenses: $688,089

UNDERGRADUATE AND GRADUATE SCHOLARSHIP AWARDS:THE FOUNDATION PROVIDES UNDERGRADUATE AND GRADUATE SCHOLARSHIPS TO STUDENTS INTERESTED IN RETAIL REAL ESTATE. THESE SCHOLARSHIPS ARE OFFERED DIRECTLY BY THE FOUNDATION OR FUNDED THROUGH PARTNER UNIVERSITIES. GENERALLY, SCHOLARSHIPS COVER TUITION AND RELATED EXPENSES WITH SOME ADDITIONAL FUNDING TO COVER ATTENDANCE AT INDUSTRY EVENTS.

Program 2

Expenses: $613,777

TALENT ENGAGEMENT INITIATIVES:THE ICSC FOUNDATION OFFERS STUDENT SUPPORT OUTSIDE OF ACADEMIC AND PROFESSIONAL EDUCATION SCHOLARSHIPS THROUGH ITS MENTORSHIP, INTERNSHIP AND UNIVERSITY PARTNERS...

TALENT ENGAGEMENT INITIATIVES:THE ICSC FOUNDATION OFFERS STUDENT SUPPORT OUTSIDE OF ACADEMIC AND PROFESSIONAL EDUCATION SCHOLARSHIPS THROUGH ITS MENTORSHIP, INTERNSHIP AND UNIVERSITY PARTNERS PROGRAMS AS WELL AS EDUCATION AND NETWORKING EVENTS AT ICSC CONFERENCES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,254,644

Program Service Revenue $0

Investment Income $1,074,138

Other Revenue $0

TOTAL REVENUE $2,328,782

Expense Breakdown

Grants Paid $619,430

Salaries & Benefits $0

Fundraising Expenses $19,352

Program Expenses $1,301,866

Other Expenses $786,457

TOTAL EXPENSES $1,405,887

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,328,782	$2,024,402	+0.2%
Expenses	$1,405,887	$1,210,228	+0.2%
Net Income	$922,895	$814,174	+0.1%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

444

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,531,759

Total Directors

$3,685,509

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GLENN RUFRANO	CHAIR	1.00	Officer Director	$0	$0	$0
BRIAN FINNEGAN	VICE CHAIR	1.00	Officer Director	$0	$0	$0
AMY HALL	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA DRASITES	DIRECTOR	1.00	Director	$0	$0	$0
ANGELE ROBINSON-GAYLORD	DIRECTOR	1.00	Director	$0	$0	$0
BRYAN LEY	DIRECTOR	1.00	Director	$0	$0	$0
CARREN COSTON	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS HOFFMAN	DIRECTOR	1.00	Director	$0	$0	$0
IVY GREANER	DIRECTOR	1.00	Director	$0	$0	$0
JAMES MAURIN	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY EDISON	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH TICHAR	DIRECTOR	1.00	Director	$0	$0	$0
JOSH SIMON	DIRECTOR	1.00	Director	$0	$0	$0
KAREN CASE	DIRECTOR	1.00	Director	$0	$0	$0
LAURIE MAHOWALD	DIRECTOR	1.00	Director	$0	$0	$0
LESLEY GIBSON	DIRECTOR	1.00	Director	$0	$0	$0
MELVIN MANCE	DIRECTOR	1.00	Director	$0	$0	$0
RACHEL ELIAS WEIN	DIRECTOR	1.00	Director	$0	$0	$0
REGGIE LIVINGSTON	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT WHELAN	DIRECTOR	1.00	Director	$0	$0	$0
ROBIN ZEIGLER	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT MCPHERSON	DIRECTOR	1.00	Director	$0	$0	$0
STEVEN VITTORIO	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS MCGEE	DIRECTOR	1.00	Director	$0	$834,453	$3,685,509
WHITNEY LIVINGSTON	DIRECTOR	1.00	Director	$0	$0	$0
LAURI NOVICK	PRESIDENT	35.00	Officer	$0	$47,041	$498,006
SEAN KRON	TREASURER	1.00	Officer	$0	$58,751	$554,966
LESLEY CAMPBELL	SECRETARY	1.00	Officer	$0	$55,892	$478,787

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$2,328,782	$1,405,887	$17,811,135	$922,895
2023	$2,024,402	$1,210,228	$16,432,443	$814,174
2022	$1,856,092	$862,102	$14,797,028	$993,990
2021	$992,222	$525,235	$15,419,811	$466,987
2020	$4,339,911	$484,099	$14,269,996	$3,855,812
2019	$1,058,036	$635,679	$13,899,009	$422,357
2018	$1,220,619	$625,068	$11,957,424	$595,551

INTERNATIONAL COUNCIL OF SHOPPING CENTERS FOUNDATION INC