INSTITUTE OF INTERNAL AUDITORS

EIN: 237408092

CHICAGO, IL

Total Revenue
$470,500
Total Expenses
$515,773
Total Assets
$1,169,470
Net Assets
$1,116,286
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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
1980
Legal Domicile
IL
Phone
7736163455
Tax Period
2023-06-01 to 2024-05-31

INSTITUTE OF INTERNAL AUDITORS, founded in 1980, is a small nonprofit that reported $470K in total revenue in fiscal year 2023. Revenue fell 30% from the prior year — a significant decline worth monitoring. Net assets of $1.1M represent 28 months of operating reserves.

Mission

THE IIA - CHICAGO CHAPTER IS A PROFESSIONAL ORGANIZATION DEDICATED TO SERVING ITS MEMBERS THROUGH ACTIVITIES SUCH AS PROFESSIONAL TRAINING EDUCATION, INTERNAL AUDIT THOUGHT LEADERSHIP, AND THE ADVANCEMENT OF THE INTERNAL AUDIT PROFESSION.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $417,270
Investment Income $10,764
Other Revenue $42,466
TOTAL REVENUE $470,500

Expense Breakdown

Grants Paid $45,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $339,699
Other Expenses $470,773
TOTAL EXPENSES $515,773

Year-over-Year Comparison

2023 2022 Change
Revenue $470,500 $674,128 -0.3%
Expenses $515,773 $491,568 +0.0%
Net Income $-45,273 $182,560 -1.2%
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

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Governance

Voting Members
19
Independent Members
19
Employees
N/A
Volunteers
100

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
$0
Total Directors
19
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PUJA SHAH President 0.00
Officer Director
$0 $0 $0
ERIC SIMAGA SVP 0.00
Officer Director
$0 $0 $0
KRISTEN KELLY VP OF EDUCATION 0.00
Officer Director
$0 $0 $0
SABRINA SEMINETTA VP OPERATIONS 0.00
Officer Director
$0 $0 $0
NATALIE COVELLO Treasurer 0.00
Officer Director
$0 $0 $0
TIFFANY MCCOY Secretary 0.00
Officer Director
$0 $0 $0
KENNETH CLOW Director 0.00
Director
$0 $0 $0
ALLISON CANCIO Director 0.00
Director
$0 $0 $0
MIKE MANROT Director 0.00
Director
$0 $0 $0
YULIA GURMAN Director 0.00
Director
$0 $0 $0
KYLE O'ROURKE Director 0.00
Director
$0 $0 $0
EILEEN ILES Director 0.00
Director
$0 $0 $0
NATE RUEY Director 0.00
Director
$0 $0 $0
ERIC WUNDERLICH Director 0.00
Director
$0 $0 $0
JASON TORRES Director 0.00
Director
$0 $0 $0
CORBIN DEL CARLO Director 0.00
Director
$0 $0 $0
CHRIS DENVER Director 0.00
Director
$0 $0 $0
ALEVTINA ARKHIPENKO Director 0.00
Director
$0 $0 $0
ED GOZDECKI Director 0.00
Director
$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
2025 No data No data No data No data
2024 $470,500 $515,773 $1,169,470 $-45,273
2023 $674,128 $491,568 $1,205,787 $182,560
2022 $329,391 $324,884 $1,073,953 $4,507
2021 $287,223 $266,792 $1,019,794 $20,431
2020 $261,218 $314,337 $1,031,232 $-53,119
2019 $556,836 $570,482 $1,067,593 $-13,646
2018 $527,167 $528,703 $1,029,109 $-1,536
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