INSTITUTE OF INTERNAL AUDITORS

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1980

Legal Domicile

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.

Program Service Accomplishments

Program 1

Expenses: $200,634 Revenue: $239,550

ANNUALLY, THE IIA CHICAGO CHAPTER HOSTS ITS ANNUAL SEMINAR WHICH IS A FULL DAY OF PROFESSIONAL EDUCATION COURSES IN THE INTERNAL AUDIT FIELD. MEMBERS AND NON-MEMBERS ARE REQUIRED TO PAY A SET...

ANNUALLY, THE IIA CHICAGO CHAPTER HOSTS ITS ANNUAL SEMINAR WHICH IS A FULL DAY OF PROFESSIONAL EDUCATION COURSES IN THE INTERNAL AUDIT FIELD. MEMBERS AND NON-MEMBERS ARE REQUIRED TO PAY A SET REGISTRATION FEE FOR THESE COURSES, FOR WHICH PARTICIPANTS RECEIVE CONTINUING PROFESSIONAL EDUCATION (CPE) CREDITS, WHICH ARE A REQUIREMENT OF MANY COMPANIES AND CERTIFICATION ORGANIZATIONS, SUCH AS THE AICPA, THE IIA AND ISACA.

Program 2

Expenses: $115,410 Revenue: $133,450

ON AN ANNUAL BASIS THE IIA CHICAGO HOSTS A TWO DAY CYBERSECURITY CONFERENCE FOR MEMBERS AND NON-MEMBERS. THE GOAL OF THIS EVENT IS TO ADVANCE EDUCATION OF EMERGING CYBERSECURITY AND TECHNOLOGY RISKS...

Program 3

Expenses: $23,655 Revenue: $28,593

THROUGHOUT THE YEAR, THE IIA CHICAGO HOSTS A NUMBER OF EDUCATIONAL SESSIONS AND NETWORKING EVENTS FOR ITS MEMBERS. THE GOAL OF THESE SEMINARS AND EVENTS IS TO PROMOTE OUR PROFESSIONL AND ALSO GIVE...

THROUGHOUT THE YEAR, THE IIA CHICAGO HOSTS A NUMBER OF EDUCATIONAL SESSIONS AND NETWORKING EVENTS FOR ITS MEMBERS. THE GOAL OF THESE SEMINARS AND EVENTS IS TO PROMOTE OUR PROFESSIONL AND ALSO GIVE TRAINING AND SUPPLEMENTAL EDUCATION TO OUR MEMBERS IN THE FORM OF CPE CREDITS.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
PUJA SHAH	President	Officer Director	$0	$0	$0
ERIC SIMAGA	SVP	Officer Director	$0	$0	$0
KRISTEN KELLY	VP OF EDUCATION	Officer Director	$0	$0	$0
SABRINA SEMINETTA	VP OPERATIONS	Officer Director	$0	$0	$0
NATALIE COVELLO	Treasurer	Officer Director	$0	$0	$0
TIFFANY MCCOY	Secretary	Officer Director	$0	$0	$0
KENNETH CLOW	Director	Director	$0	$0	$0
ALLISON CANCIO	Director	Director	$0	$0	$0
MIKE MANROT	Director	Director	$0	$0	$0
YULIA GURMAN	Director	Director	$0	$0	$0
KYLE O'ROURKE	Director	Director	$0	$0	$0
EILEEN ILES	Director	Director	$0	$0	$0
NATE RUEY	Director	Director	$0	$0	$0
ERIC WUNDERLICH	Director	Director	$0	$0	$0
JASON TORRES	Director	Director	$0	$0	$0
CORBIN DEL CARLO	Director	Director	$0	$0	$0
CHRIS DENVER	Director	Director	$0	$0	$0
ALEVTINA ARKHIPENKO	Director	Director	$0	$0	$0
ED GOZDECKI	Director	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