ILLINOIS VIPASSANA 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

2000

Legal Domicile

Principal Officer

RAMKUMAR RAMANAN

Phone

8154890420

Tax Period

2023-01-01 to 2023-12-31

ILLINOIS VIPASSANA ASSOCIATION, founded in 2000, is a small nonprofit in the Religion sector that reported $835K in total revenue in fiscal year 2023. Revenue surged 83% from the prior year, signaling strong growth momentum. The organization ran a surplus of $357K, a strong 43% operating margin.

Mission

THE ILLINOIS VIPASSANA ASSOCIATION IS ONE OF THE NUMEROUS CENTERS WORLDWIDE DEDICATED TO PROVIDING INSTRUCTION AND GUIDANCE IN THE TECHNIQUES OF VIPASSANA MEDITATION.

Program Service Accomplishments

Program 1

Expenses: $457,259

IN 2023, THE ILLINOIS VIPASSANA ASSOCIATION SERVED APPROXIMATELY 600 PEOPLE BY PROVIDING INSTRUCTION IN THE VIPASSANA MEDITATION TRADITION AS TAUGHT BY SN GOENKA IN THE LINEAGE OF SAYAGYI U BA KHIN.

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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 $442,202

Program Service Revenue $0

Investment Income $3

Other Revenue $392,397

TOTAL REVENUE $834,602

Expense Breakdown

Grants Paid $0

Salaries & Benefits $48,815

Fundraising Expenses $0

Program Expenses $457,259

Other Expenses $428,916

TOTAL EXPENSES $477,731

Year-over-Year Comparison

	2023	2022	Change
Revenue	$834,602	$456,617	+0.8%
Expenses	$477,731	$266,411	+0.8%
Net Income	$356,871	$190,206	+0.9%

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

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
RAMKUMAR RAMANAN	CHAIR	10.00	Officer Director	$0	$0	$0
JULIE RAMUSSEN	VICE CHAIR	2.00	Officer Director	$0	$0	$0
WALTER MCCLOSKEY	TREASURER	2.00	Officer Director	$0	$0	$0
ELLEN GOLDSTEIN	SECRETARY	2.00	Officer Director	$0	$0	$0
AJAY BAWANKULE	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL CACCIOPPO	BOARD MEMBER	1.00	Director	$0	$0	$0
ROSA KITTSTEINER	BOARD MEMBER	1.00	Director	$0	$0	$0
DEVESH PANDIT	BOARD MEMBER	1.00	Director	$0	$0	$0
TINA PANDIT	BOARD MEMBER	1.00	Director	$0	$0	$0
BHAVYA SETIA	BOARD MEMBER	1.00	Director	$0	$0	$0
ANIL THAKKAR	BOARD MEMBER	1.00	Director	$0	$0	$0
SANDYA THAKKAR	BOARD MEMBER	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
2024	No data	No data	No data	No data
2023	$834,602	$477,731	$3,523,404	$356,871
2022	$456,617	$266,411	$2,469,509	$190,206
2021	$1,050,702	$428,923	$2,270,658	$621,779
2020	$242,028	$202,074	$1,527,354	$39,954