IMSA FUND FOR ADVANCEMENT OF EDUCATION

EIN: 363422778 501(c)(3)

AURORA, IL

Total Revenue
$2,667,211
Total Expenses
$729,736
Total Assets
$21,884,714
Net Assets
$21,873,223
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
IL
Principal Officer
KIMBERLY SIMON
Phone
6309075681
Tax Period
2024-07-01 to 2025-06-30

IMSA FUND FOR ADVANCEMENT OF EDUCATION, founded in 1986, is a community nonprofit that reported $2.7M in total revenue in fiscal year 2024. Revenue fell 57% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.9M, a strong 73% operating margin.

Mission

TO FURTHER MATH, SCIENCE, & TECHNOLOGY EDUCATION THROUGH INSTITUTIONAL ADVANCEMENT AND SUPPORT OF PROGRAMS OF THE ILLINOIS MATHEMATICS AND SCIENCE ACADEMY.

Program Service Accomplishments

Program 1
Expenses: $517,448 Revenue: $2,615,533

EDUCATIONAL PROGRAMS - IMSA FUND SUPPORTS PROFESSIONAL DEVELOPMENT AND STUDENT ENRICHMENT FOR ILLINOIS SCHOOLS, TEACHERS, AND COMMUNITIES THROUGH PROGRAMS THAT DEVELOP TALENT AND LEADERSHIP IN STEM...

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EDUCATIONAL PROGRAMS - IMSA FUND SUPPORTS PROFESSIONAL DEVELOPMENT AND STUDENT ENRICHMENT FOR ILLINOIS SCHOOLS, TEACHERS, AND COMMUNITIES THROUGH PROGRAMS THAT DEVELOP TALENT AND LEADERSHIP IN STEM (SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS). PROFESSIONAL DEVELOPMENT IN PARTNERSHIP WITH SCHOOLS FOR TEACHERS INCLUDE: PROBLEM-BASED LEARNING, IMSA FUSION, AND INQUIRY-BASED MATH AND SCIENCE TEACHING. STUDENT ENRICHMENT PROGRAMS INCLUDE SUMMER AND WEEKEND PROGRAMS AS WELL AS ONLINE AND AFTER-SCHOOL LEARNING ACTIVITIES SUCH AS FUSION AND ALLIES. ALL PROGRAMS HAVE AN EMPHASIS ON SERVING STUDENTS HISTORICALLY UNDERREPRESENTED AND UNDERSERVED IN MATH AND SCIENCE (APPROXIMATED 7,500 STUDENTS AND TEACHERS).

Program 2
Expenses: $8,364

GIFTED EDUCATION, GENERAL/OTHER - IMSA FUND SUPPORTS THE ADVANCED RESIDENTIAL COLLEGE PREPARATORY PROGRAM OF THE ILLINOIS MATHEMATICS AND SCIENCE ACADEMY WHICH INCLUDES STUDENT INQUIRY AND RESEARCH...

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GIFTED EDUCATION, GENERAL/OTHER - IMSA FUND SUPPORTS THE ADVANCED RESIDENTIAL COLLEGE PREPARATORY PROGRAM OF THE ILLINOIS MATHEMATICS AND SCIENCE ACADEMY WHICH INCLUDES STUDENT INQUIRY AND RESEARCH, LEADERSHIP DEVELOPMENT, FACULTY DEVELOPMENT, SCHOLARSHIPS, MINORITY RECRUITMENT AND RETENTION, LEARNING ASSESSMENT, CURRICULUM DEVELOPMENT AND ENTREPRENEURIAL INITIATIVES. THE EMPHASIS IS ON ENABLING ACADEMICALLY TALENTED STUDENTS TO REACH EXCEPTIONAL LEVELS OF ACHIEVEMENT IN MATH, SCIENCE, AND TECHNOLOGY (APPROXIMATELY 650 RESIDENTIAL STUDENTS).

Program 3
Expenses: $70,800 Revenue: $43,314

SUMMER RESEARCH AND EXPERIENTIAL LEARNING OPPORTUNITIES (SRELO) - THE IMSA FUND SUPPORTS STUDENT ENRICHMENT THROUGH PROGRAMS THAT EXPAND ACCESS TO HIGH-QUALITY STEM LEARNING FOR ILLINOIS STUDENTS...

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SUMMER RESEARCH AND EXPERIENTIAL LEARNING OPPORTUNITIES (SRELO) - THE IMSA FUND SUPPORTS STUDENT ENRICHMENT THROUGH PROGRAMS THAT EXPAND ACCESS TO HIGH-QUALITY STEM LEARNING FOR ILLINOIS STUDENTS. THE SUMMER RESEARCH AND EXPERIENTIAL LEARNING OPPORTUNITIES (SRELO) PROGRAM PROVIDES ILLINOIS HIGH SCHOOL STUDENTS WITH AUTHENTIC, MENTORED RESEARCH EXPERIENCES IN MATH, SCIENCE, AND TECHNOLOGY. THROUGH PARTNERSHIPS WITH HIGHER EDUCATION AND RESEARCH INSTITUTIONS ACROSS ILLINOIS, STUDENTS ENGAGE IN INQUIRY-BASED PROJECTS THAT STRENGTHEN COLLEGE AND CAREER READINESS IN STEM FIELDS. (APPROXIMATELY 100 ILLINOIS STUDENTS SERVED ANNUALLY.)

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,057,550
Program Service Revenue $0
Investment Income $609,661
Other Revenue $0
TOTAL REVENUE $2,667,211

Expense Breakdown

Grants Paid $521,728
Salaries & Benefits $0
Fundraising Expenses $28,814
Program Expenses $596,612
Other Expenses $208,008
TOTAL EXPENSES $729,736

Year-over-Year Comparison

2024 2023 Change
Revenue $2,667,211 $6,264,097 -0.6%
Expenses $729,736 $624,819 +0.2%
Net Income $1,937,475 $5,639,278 -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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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
N/A
Volunteers
9

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
5
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JACOB PLUMMER PRESIDENT (THRU 4/28/25) 1.00
Officer Director
$0 $0 $0
KIMBERLY SIMON PRESIDENT 1.00
Officer Director
$0 $0 $0
MATT MADDOX TREASURER 1.00
Officer Director
$0 $0 $0
KEVIN BROOKINS SECRETARY (THRU 4/28/25) 1.00
Officer Director
$0 $0 $0
DAN MUETH SECRETARY 1.00
Officer Director
$0 $0 $0
MICHAEL FOUNTAIN DIRECTOR 1.00
Director
$0 $0 $0
HECTOR CORREA DIRECTOR 1.00
Director
$0 $0 $0
RICHARD TUNG DIRECTOR 1.00
Director
$0 $0 $0
SAM YAGAN DIRECTOR 1.00
Director
$0 $0 $0
SHARON ZENG DIRECTOR 1.00
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 $2,667,211 $729,736 $21,884,714 $1,937,475
2024 $6,264,097 $624,819 $18,618,033 $5,639,278
2023 $1,171,905 $752,098 $12,082,978 $419,807
2022 $1,161,298 $662,197 $10,937,420 $499,101
2021 $1,275,055 $653,292 $12,564,523 $621,763
2020 $1,999,548 $882,818 $10,006,134 $1,116,730
2019 $1,989,442 $1,950,242 $8,801,523 $39,200
2018 $1,203,970 $2,229,335 $8,600,102 $-1,025,365
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