ILLINOIS PROPERTY ASSESSMENT INSTIT (EIN 370985760) - Form 990 Financial Analysis & Trantor Score

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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

1966

Legal Domicile

Principal Officer

JOSH BARNETT

Phone

3098620300

Tax Period

2024-01-01 to 2024-12-31

ILLINOIS PROPERTY ASSESSMENT INSTIT, founded in 1966, is a small nonprofit in the Housing & Shelter sector that reported $762K in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $688K left a modest 10% surplus.

Mission

IPAI PROVIDES CREDENTIALING AND CONTINUING EDUCATION TO PROPERTY ASSESSMENT PROFESSIONALS WITHIN THE STATE OF ILLINOIS. THIS IS ACHIEVED THROUGH SEVERAL CONFERENCES AND STANDALONE COURSES AROUND THE STATE EACH 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 (2024)

Revenue Breakdown

Contributions & Grants $1,000

Program Service Revenue $776,293

Investment Income $23,317

Other Revenue $-38,262

TOTAL REVENUE $762,348

Expense Breakdown

Grants Paid $0

Salaries & Benefits $259,630

Fundraising Expenses $0

Program Expenses $563,722

Other Expenses $427,885

TOTAL EXPENSES $687,515

Year-over-Year Comparison

	2024	2023	Change
Revenue	$762,348	$689,428	+0.1%
Expenses	$687,515	$590,486	+0.2%
Net Income	$74,833	$98,942	-0.2%

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

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

$92,363

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSH BARNETT	EXECUTIVE DI	40.00	Officer	$89,592	$2,771	$92,363
ERICH BLAIR	BOARD MEMBER	1.00	Director	$0	$0	$0
KEN CROWLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN DABROWSKI	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SHELLY RENKEN	SECRETARY	1.00	Officer Director	$0	$0	$0
VICKI SHEETS	CHAIR	1.00	Officer Director	$0	$0	$0
MARY TAMEZ	TREASURER	1.00	Officer Director	$0	$0	$0
HOPE WEBER	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	$762,348	$687,515	$862,090	$74,833
2023	$689,428	$590,486	$764,608	$98,942
2022	$516,848	$549,474	$602,726	$-32,626
2021	$715,373	$532,073	$524,519	$183,300
2020	$470,583	$496,515	$377,127	$-25,932
2019	$503,067	$477,331	$419,525	$25,736
2018	$434,115	$460,984	$401,385	$-26,869

ILLINOIS PROPERTY ASSESSMENT INSTIT