INVESTMENT COMPANY INSTITUTE (EIN 135266605) - Form 990 Financial Analysis & Trantor Score

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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

1941

Legal Domicile

Principal Officer

ERIC PAN

Phone

2023265800

Tax Period

2023-10-01 to 2024-09-30

INVESTMENT COMPANY INSTITUTE, founded in 1941, is a mid-sized nonprofit that reported $83.2M in total revenue in fiscal year 2023.

Mission

TO STRENGTHEN THE FOUNDATION OF THE ASSET MANAGEMENT INDUSTRY FOR THE ULTIMATE BENEFIT OF THE LONG-TERM INDIVIDUAL INVESTOR. MEMBERS INCLUDE MUTUAL FUNDS, EXCHANGE-TRADED FUNDS (ETFS), CLOSED-END FUNDS, AND UNIT INVESTMENT TRUSTS (UITS) IN THE UNITED STATES, AND SIMILAR FUNDS OFFERED TO INVESTORS IN EUROPE, ASIA AND OTHER JURISDICTIONS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $69,015,360

Program Service Revenue $7,313,868

Investment Income $5,426,583

Other Revenue $1,418,687

TOTAL REVENUE $83,174,498

Expense Breakdown

Grants Paid $180,000

Salaries & Benefits $53,667,430

Fundraising Expenses $0

Other Expenses $30,347,191

TOTAL EXPENSES $84,194,621

Year-over-Year Comparison

	2023	2022	Change
Revenue	$83,174,498	$84,136,163	0.0%
Expenses	$84,194,621	$77,130,848	+0.1%
Net Income	$-1,020,123	$7,005,315	-1.1%

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

194

Volunteers

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

$6,463,071

Total Directors

Key Employees

$725,922

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC J PAN	PRESIDENT & CEO	40.0	Officer	$3,128,037	$78,748	$3,206,785
SUSAN M OLSON	GENERAL COUNSEL THRU 06/24	40.0	Officer	$1,086,498	$67,274	$1,153,772
DONALD C AUERBACH	CHIEF OPERATING OFFICER	40.0	Officer	$980,941	$65,460	$1,046,401
MICHAEL N PEDRONI	CHIEF GLOBAL AFFAIRS OFFICER	40.0	Highest	$820,371	$78,748	$899,119
JOHN G EMLING	CHIEF GOVT. AFFAIRS OFFICER	40.0	Highest	$744,402	$75,475	$819,877
SEAN S COLLINS	CHIEF ECONOMIST	40.0	Key Emp	$650,587	$75,335	$725,922
DOROTHY M DONOHUE	DEPUTY GENERAL COUNSEL	40.0	Highest	$633,358	$77,700	$711,058
SARAH A BESSIN	DEPUTY GENERAL COUNSEL	40.0	Highest	$616,902	$65,445	$682,347
ERICA E RICHARDSON	CHIEF STRATEGIC COMM. OFFICER	40.0	Highest	$614,091	$67,104	$681,195
RACHEL H GRAHAM	SECRETARY	40.0	Officer	$500,841	$78,748	$579,589
MARK A DELCOCO	CFO/TREASURER	40.0	Officer	$397,776	$78,748	$476,524
GEORGE H WALKER	CHAIR	2.0	Director	$0	$0	$0
YIE-HSIN HUNG	VICE-CHAIR	2.0	Director	$0	$0	$0
OMAR AGUILAR	MEMBER	1.0	Director	$0	$0	$0
ANDREW G ARNOTT	MEMBER	1.0	Director	$0	$0	$0
GEORGE AYLWARD	MEMBER	1.0	Director	$0	$0	$0
KATHLEEN T BARR	MEMBER	2.0	Director	$0	$0	$0
SETH P BERNSTEIN	MEMBER	1.0	Director	$0	$0	$0
KAMAL BHATIA	MEMBER	1.0	Director	$0	$0	$0
STEPHANIE G BRAMING	MEMBER	1.0	Director	$0	$0	$0
HEATHER E BRILLIANT	MEMBER	1.0	Director	$0	$0	$0
MORTIMER J BUCKLEY	MEMBER	2.0	Director	$0	$0	$0
PAMELA CARLTON	MEMBER	1.0	Director	$0	$0	$0
JANE K CARTEN	MEMBER	1.0	Director	$0	$0	$0
GALE K CARUSO	MEMBER	1.0	Director	$0	$0	$0
JAMES E DAVEY	MEMBER	1.0	Director	$0	$0	$0
DAVID DIPETRILLO	MEMBER	1.0	Director	$0	$0	$0
WILLIAM EBSWORTH	MEMBER	1.0	Director	$0	$0	$0
DANIEL GAMBA	MEMBER	1.0	Director	$0	$0	$0
GEORGE C W GATCH	MEMBER	2.0	Director	$0	$0	$0
CAROL GEREMIA	MEMBER	1.0	Director	$0	$0	$0
PETER J GERMAIN	MEMBER	1.0	Director	$0	$0	$0
DAVID L GIUNTA	MEMBER	1.0	Director	$0	$0	$0
DIANA HERRMANN	MEMBER	1.0	Director	$0	$0	$0
RYAN HICKE	MEMBER	1.0	Director	$0	$0	$0
MELLODY HOBSON	MEMBER	2.0	Director	$0	$0	$0
CYNTHIA HOSTETLER	MEMBER	1.0	Director	$0	$0	$0
BEN HUNEKE	MEMBER	1.0	Director	$0	$0	$0
NAIM ABOU-JAOUDE	MEMBER	1.0	Director	$0	$0	$0
GREGORY E JOHNSON	MEMBER	2.0	Director	$0	$0	$0
JAMES L JOHNSON JR	MEMBER	2.0	Director	$0	$0	$0
LISA M JONES	MEMBER	1.0	Director	$0	$0	$0
JOANNA F JONSSON	MEMBER	2.0	Director	$0	$0	$0
THOMAS C KERSTING	MEMBER	1.0	Director	$0	$0	$0
KATHYRN KOCH	MEMBER	2.0	Director	$0	$0	$0
SHAWN K LYTLE	MEMBER	2.0	Director	$0	$0	$0
MEHDI MAHMUD	MEMBER	1.0	Director	$0	$0	$0
JAMES MCNAMARA	MEMBER	2.0	Director	$0	$0	$0
MICHAEL A MENDELSON	MEMBER	1.0	Director	$0	$0	$0
MARK D NERUD	MEMBER	1.0	Director	$0	$0	$0
CATHERINE L NEWELL	MEMBER	1.0	Director	$0	$0	$0
DAVID OESTREICHER	MEMBER	2.0	Director	$0	$0	$0
STEVEN J PAGGIOLI	MEMBER	1.0	Director	$0	$0	$0
STUART S PARKER	MEMBER	2.0	Director	$0	$0	$0
CYNTHIA R PLOUCHE	MEMBER	2.0	Director	$0	$0	$0
KARLA RABUSCH	MEMBER	1.0	Director	$0	$0	$0
KRISTI L ROWSELL	MEMBER	1.0	Director	$0	$0	$0
ANDREW R SCHLOSSBERG	MEMBER	2.0	Director	$0	$0	$0
DOUGLAS B SIEG	MEMBER	2.0	Director	$0	$0	$0
KRISTI SLAVIN	MEMBER	1.0	Director	$0	$0	$0
MARTIN SMALL	MEMBER	1.0	Director	$0	$0	$0
MARIJN P SMIT	MEMBER	1.0	Director	$0	$0	$0
PETER G STRELOW	MEMBER	2.0	Director	$0	$0	$0
WILLIAM W STRICKLAND JR	MEMBER	1.0	Director	$0	$0	$0
JOSEPH SULLIVAN	MEMBER	1.0	Director	$0	$0	$0
GARY TENKMAN	MEMBER	1.0	Director	$0	$0	$0
JONATHAN S THOMAS	MEMBER	1.0	Director	$0	$0	$0
GARRETT THORNBURG	MEMBER	1.0	Director	$0	$0	$0
RONALD E TOUPIN JR	MEMBER	1.0	Director	$0	$0	$0
WILLIAM F TRUSCOTT	MEMBER	2.0	Director	$0	$0	$0
DAWN VROEGOP	MEMBER	1.0	Director	$0	$0	$0
PAUL CELLUPICA	GENERAL COUNSEL AS OF 06/24	40.0	Officer	$0	$0	$0

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	$83,174,498	$84,194,621	$146,403,728	$-1,020,123
2023	$84,136,163	$77,130,848	$148,674,197	$7,005,315
2022	$80,146,435	$68,854,682	$132,491,163	$11,291,753
2021	$72,478,404	$67,975,698	$76,230,571	$4,502,706
2020	$71,824,481	$70,766,857	$84,674,610	$1,057,624
2019	$79,650,345	$75,166,953	$81,067,434	$4,483,392
2018	$74,633,466	$71,325,983	$78,811,879	$3,307,483

INVESTMENT COMPANY INSTITUTE