Investment Adviser Association

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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

1937

Legal Domicile

Principal Officer

Karen L Barr

Phone

2022934222

Tax Period

2023-01-01 to 2023-12-31

Investment Adviser Association, founded in 1937, is a community nonprofit that reported $6.9M in total revenue in fiscal year 2023.

Mission

To be the leading industry organization: A. Promoting high standards of fiduciary duty, integrity, public responsibility, and competence in the investment advisory profession. B. Providing effective, quality representation of the investment advisory profession with respect to the development, formulation, and enactment of legislation, regulations, and other policies relating to investment advisers. C. Offering benefits, services, and resources that assist and add value for member firms.

Program Service Accomplishments

Program 1

Advocacy - IAA works closely with policy makers on every issue that directly affects investment advisers, and represents the interests of investment advisers on Capitol Hill, working with members of Congress and their staffs to educate them about relevant issues and concerns. The IAA regularly comments on rule changes proposed by the SEC, Department of Labor, other Federal and State agencies, and international regulators that directly affect the investment adviser industry and the IAA membership.

Program 2

Compliance - The IAA serves as a resource for all IAA member firms. Our staff responds to hundreds of requests for information each year from IAA members on a wide variety of regulatory and...

Compliance - The IAA serves as a resource for all IAA member firms. Our staff responds to hundreds of requests for information each year from IAA members on a wide variety of regulatory and compliance issues. In addition, the IAA provides extensive online compliance and regulatory materials, located in a members only section of the website.

Program 3

Education - The IAA is a source of educational materials and programs, tailored to address specific issues affecting the investment adviser community. The IAA sponsors a wide range of workshops...

Education - The IAA is a source of educational materials and programs, tailored to address specific issues affecting the investment adviser community. The IAA sponsors a wide range of workshops, conferences, webinars and networking events. These IAA-sponsored events address business, management, compliance, operations, technology, and other relevant issues. The IAA also publishes various reports and surveys each year.

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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 $0

Program Service Revenue $6,627,092

Investment Income $202,032

Other Revenue $33,385

TOTAL REVENUE $6,862,509

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,214,415

Fundraising Expenses $0

Other Expenses $1,900,540

TOTAL EXPENSES $7,114,955

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,862,509	$6,808,451	+0.0%
Expenses	$7,114,955	$6,960,922	+0.0%
Net Income	$-252,446	$-152,471	+0.7%

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

Volunteers

500

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

$1,077,671

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Alison Baur	Chair, Board Member	5.00	Officer Director	$0	$0	$0
Yvette Garcia	Past Chair	5.00	Officer Director	$0	$0	$0
Joan Giardina	Treasurer,Board Member	5.00	Officer Director	$0	$0	$0
Geoffrey Alexander	Vice Chair, Board Member	5.00	Officer Director	$0	$0	$0
Rebekah Kohmescher	Board Member	2.00	Director	$0	$0	$0
R Kelly Williams	Board Member	2.00	Director	$0	$0	$0
Laura Drynan	Board Member	2.00	Director	$0	$0	$0
Peter Tuz	Board Member	2.00	Director	$0	$0	$0
Randy Conner	Board Member	2.00	Director	$0	$0	$0
Carlotta King	Board Member	2.00	Director	$0	$0	$0
James Febeo	Board Member	2.00	Director	$0	$0	$0
William Roberts	Board Member	2.00	Director	$0	$0	$0
Rana Wright	Board Member	2.00	Director	$0	$0	$0
Maureen Quigley	Board Member	2.00	Director	$0	$0	$0
Steven Wilkes	Board Member	2.00	Director	$0	$0	$0
Robert Mairs	Board Member	2.00	Director	$0	$0	$0
Catherine Halberstadt	Board Member	2.00	Director	$0	$0	$0
Christine Morgan	Board Member	2.00	Director	$0	$0	$0
Bret Hester	Board Member	2.00	Director	$0	$0	$0
Benjamin Alden	Board Member	2.00	Director	$0	$0	$0
Gwen Reinke	Board Member	2.00	Director	$0	$0	$0
Jeff Schweon	Board Member	2.00	Director	$0	$0	$0
Sonia Kowal	Board Member	2.00	Director	$0	$0	$0
Karen L Barr	President & CEO	40.00	Officer	$496,546	$86,684	$583,230
Gail C Bernstein	Secretary & General Counsel	40.00	Officer	$429,080	$65,361	$494,441
Neil Simon	VP, Government Relations	40.00	Highest	$279,580	$33,627	$313,207
Monique Botkin	Associate General Counsel	40.00	Highest	$275,080	$43,100	$318,180
Laura Grossman	Associate General Counsel	40.00	Highest	$272,080	$60,944	$333,024
Sanjay Lamba	Associate General Counsel	40.00	Highest	$267,580	$28,947	$296,527
William Nelson	Associate General Counsel	40.00	Highest	$256,080	$35,827	$291,907

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	No data	No data	No data	No data
2023	$6,862,509	$7,114,955	$10,400,041	$-252,446
2022	$6,808,451	$6,960,922	$8,563,658	$-152,471
2022	$6,808,451	$6,960,922	$8,563,658	$-152,471
2022	$6,808,451	$6,960,922	$8,563,658	$-152,471
2021	$5,665,058	$6,225,415	$7,311,735	$-560,357
2021	$5,665,058	$6,225,415	$7,311,735	$-560,357
2020	$6,258,601	$5,946,964	$7,849,853	$311,637
2019	$6,400,740	$6,113,308	$7,993,395	$287,432
2018	$5,828,438	$5,868,411	$6,655,764	$-39,973