CHICAGO SECTION OF THE INSTITUTE O… - 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

1941

Legal Domicile

Principal Officer

LYNNDA NELSON

Phone

6309164960

Tax Period

2023-09-01 to 2024-08-31

CHICAGO SECTION OF THE INSTITUTE OF FOOD TECHNOLOGISTS, founded in 1941, is a small nonprofit that reported $595K in total revenue in fiscal year 2023. Revenue surged 97% from the prior year, signaling strong growth momentum. The organization ran a surplus of $96K, a strong 16% operating margin.

Mission

CULTIVATING A COMMUNITY WHERE PROFESSIONALS AND STUDENTS ASPIRE TO ENRICH THE CHICAGOLAND FOOD INDUSTRY THROUGH COLLABORATION, EDUCATION, AND NETWORKING.

Program Service Accomplishments

Program 1

THE SECTION HOSTS AN ANNUAL EXPO EACH NOVEMBER, AS WELL AS VARIOUS OPPORTUNITIES FOR PERSONAL AND PROFESSIONAL DEVELOPMENT THROUGHOUT THE YEAR.

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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 $0

Program Service Revenue $575,095

Investment Income $20,094

Other Revenue $200

TOTAL REVENUE $595,389

Expense Breakdown

Grants Paid $50,450

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $448,471

TOTAL EXPENSES $498,921

Year-over-Year Comparison

	2023	2022	Change
Revenue	$595,389	$302,437	+1.0%
Expenses	$498,921	$235,907	+1.1%
Net Income	$96,468	$66,530	+0.4%

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

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
MARY JO MAFFEI-PANAGOS	CHAIR	1.00	Officer Director	$0	$0	$0
HELEN BENGTSON	PAST CHAIR	1.00	Officer Director	$0	$0	$0
SEBNEM KARASU	CHAIR ELECT	1.00	Officer Director	$0	$0	$0
MOLLY HICKS	SECRETARY	1.00	Officer Director	$0	$0	$0
DAVID CONDON	TREASURER	1.00	Officer Director	$0	$0	$0
KELLI BARTH	DIRECTOR	1.00	Director	$0	$0	$0
AMY DEJONG	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS FINDLAY	DIRECTOR	1.00	Director	$0	$0	$0
JULIE IP	DIRECTOR	1.00	Director	$0	$0	$0
SIHUI MA	DIRECTOR	1.00	Director	$0	$0	$0
JAMES NASELLA	DIRECTOR	1.00	Director	$0	$0	$0
GINA OBEROI	DIRECTOR	1.00	Director	$0	$0	$0
FRANK SABELLA	DIRECTOR	1.00	Director	$0	$0	$0
DEBBIE SCHODROF	DIRECTOR	1.00	Director	$0	$0	$0
YASH SHAH	DIRECTOR	1.00	Director	$0	$0	$0
SARAH TENSA	DIRECTOR	1.00	Director	$0	$0	$0
GARY WILLS	DIRECTOR	1.00	Director	$0	$0	$0
LYNNDA NELSON	EXECUTIVE DIRECTOR	35.00	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
2025	No data	No data	No data	No data
2024	$595,389	$498,921	$708,023	$96,468
2023	$302,437	$235,907	$594,421	$66,530
2022	$284,169	$171,356	$491,252	$112,813
2021	$99,184	$177,691	$467,685	$-78,507
2020	$348,608	$302,024	$457,239	$46,584
2019	$359,290	$330,513	$501,838	$28,777
2018	$315,076	$247,835	$437,593	$67,241

CHICAGO SECTION OF THE INSTITUTE OF FOOD TECHNOLOGISTS