IGBOBI COLLEGE OLD BOYS ASSOCIATIO… - 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

2006

Legal Domicile

Principal Officer

IBUKUN SOYEBO

Phone

6785950663

Tax Period

2024-01-01 to 2024-12-31

IGBOBI COLLEGE OLD BOYS ASSOCIATION NA, founded in 2006, is a small nonprofit in the Education sector that reported $193K in total revenue in fiscal year 2024. Revenue surged 85% from the prior year, signaling strong growth momentum. The organization ran a surplus of $40K, a strong 21% operating margin.

Mission

SUPPORTING ALMA MATTER TO KEEP UP THE STANDARD OF THE SCHOOL.

Program Service Accomplishments

Program 1

Expenses: $139,144

ORGANIZATION OF THE ANNUAL CONFERENCE AND FUNDRAISING TO SUPPORT UPKEEP, SCHOLARSHIPS AND EDUCATION EQUIPMENT FOR STUDENTS OF IGBOBI COLLEGE

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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 $192,995

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $192,995

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $1,364

Program Expenses $139,144

Other Expenses $152,041

TOTAL EXPENSES $153,405

Year-over-Year Comparison

	2024	2023	Change
Revenue	$192,995	$104,402	+0.8%
Expenses	$153,405	$51,197	+2.0%
Net Income	$39,590	$53,205	-0.3%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FELA YEMITAN	CHAIRMAN	1	Officer	$0	$0	$0
OLU DOMINGO	VICE CHIRMAN	1	Officer	$0	$0	$0
DAPO ODUNLAMI	GENERAL SECRETARY	1	Officer	$0	$0	$0
TUNDE KAZEEM	ASSISTANT GENERAL SECRETARY	1	Officer	$0	$0	$0
IBUKUN SOYEBO	TREASURER AND FINANCIAL SERETARY	1	Officer	$0	$0	$0
OLUJIMI ONANUGA	SOCIAL AND PUBLICITY SECRETARY	1	Officer	$0	$0	$0
WALE GBALAJOBI	EX-OFFICIO	1	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	$192,995	$153,405	$260,956	$39,590
2023	$104,402	$51,197	$221,366	$53,205
2022	$130,858	$19,582	$168,161	$111,276
2021	$52,253	$13,309	$125,995	$38,944
2020	$3,401	$-2,614	$87,050	$6,015
2019	$23,968	$21,809	$80,036	$2,159
2018	$24,422	$20,107	$77,952	$4,315

IGBOBI COLLEGE OLD BOYS ASSOCIATION NA