INTERNAL AUDIT FOUNDATION

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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

1976

Legal Domicile

Principal Officer

ANTHONY S PUGLIESE

Phone

4079371300

Tax Period

2023-01-01 to 2023-12-31

INTERNAL AUDIT FOUNDATION, founded in 1976, is a community nonprofit in the Education sector that reported $1.1M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $1.4M exceeded revenue, resulting in a 24% operating deficit.

Mission

TO SHAPE, EXPAND, AND ADVANCE KNOWLEDGE OF INTERNAL AUDITING BY DEVELOPING AND DISSEMINATING TIMELY, RELEVANT INFORMATION AND INSIGHTS THAT ADDRESS THE NEEDS OF OUR STAKEHOLDERS GLOBALLY.

Program Service Accomplishments

Program 1

Expenses: $598,556 Revenue: $0

THE FOUNDATION PROVIDES GRANTS TO EDUCATIONAL INSTITUTIONS WORLDWIDE THAT PARTICIPATE IN THE IIA'S INTERNAL AUDITING EDUCATION PARTNERSHIP (IAEP) PROGRAM WHICH WAS DEVELOPED TO RESPOND TO THE GROWING INTEREST IN INTERNAL AUDIT EDUCATION AT INSTITUTIONS OF HIGHER LEARNING. IAEP PROGRAM SCHOOLS TEACH AN INTERNAL AUDITING CURRICULUM WITHIN A DEGREE PROGRAM (UNDERGRADUATE OR POST-GRADUATE) ENDORSED BY THE IIA. THE FOUNDATION HAS AN ANNUAL GRANT CYCLE OPEN OCTOBER OF EACH YEAR IN WHICH SCHOOLS MAY APPLY FOR GRANTS TO SUPPORT ACTIVITIES RELATED TO THE FOLLOWING: CURRICULUM DEVELOPMENT AND PROGRAM GROWTH & MARKETING.

Program 2

Expenses: $246,838 Revenue: $0

THE FOUNDATION CONDUCTS AND FUNDS RESEARCH ON THE INTERNAL AUDIT PROFESSION INCLUDING TRENDING PRACTICES OVER TIME AND RESEARCH ON THE IMPACT OF MACRO ECONOMIC, TECHNOLOGICAL, AND ENVIRONMENTAL...

THE FOUNDATION CONDUCTS AND FUNDS RESEARCH ON THE INTERNAL AUDIT PROFESSION INCLUDING TRENDING PRACTICES OVER TIME AND RESEARCH ON THE IMPACT OF MACRO ECONOMIC, TECHNOLOGICAL, AND ENVIRONMENTAL FACTORS ON THE BUSINESS ENVIRONMENT AND SUBSEQUENTLY THE PROFESSION. PARTNERING WITH ACADEMICS AND PARTNER ORGANIZATIONS, THE IAF ISSUES WHITE PAPER, PRACTITIONER REPORTS, AND ACADEMIC RESEARCH PAPERS AS A RESULT OF ITS RESEARCH EFFORTS BASED ON BOTH QUANTITATIVE AND QUALITATIVE EFFORTS.

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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 $1,050,260

Program Service Revenue $0

Investment Income $29,630

Other Revenue $49,319

TOTAL REVENUE $1,129,209

Expense Breakdown

Grants Paid $102,509

Salaries & Benefits $424,792

Fundraising Expenses $0

Program Expenses $845,394

Other Expenses $874,131

TOTAL EXPENSES $1,401,432

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,129,209	$935,570	+0.2%
Expenses	$1,401,432	$679,005	+1.1%
Net Income	$-272,223	$256,565	-2.1%

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

$1,266,775

Total Directors

$1,043,483

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANTHONY PUGLIESE	IIA CEO	1.0	Officer Director	$0	$155,630	$1,043,483
LAURA LEBLANC	SR. DIRECTOR, IAF	30.0	Officer	$0	$54,031	$223,292
WARREN W STIPPICH	PRESIDENT	2.0	Officer Director	$0	$0	$0
GLENN HO	SR VICE PRESIDENT, STRATEGY	2.0	Officer Director	$0	$0	$0
SARAH FEDELE	VICE PRES, FINANCE/DEVELOPMENT	2.0	Officer Director	$0	$0	$0
YULIA GURMAN	VICE PRESIDENT, CONTENT	2.0	Officer Director	$0	$0	$0
SUBRAMANIAN BHASKAR	MEMBER (AS OF 07/2023)	2.0	Director	$0	$0	$0
LAWRENCE HARRINGTON	MEMBER (THRU 07/2023)	2.0	Director	$0	$0	$0
SHIRLEY MACHABA	MEMBER	2.0	Director	$0	$0	$0
RAOUL MENES	MEMBER	2.0	Director	$0	$0	$0
HIROSHI NAKA	MEMBER (AS OF 07/2023)	2.0	Director	$0	$0	$0
REYES FUENTES ORTEA	MEMBER	2.0	Director	$0	$0	$0
HOSSAMELDIN EL SHAFFEI	MEMBER	2.0	Director	$0	$0	$0
NORA ATEF REDA ZEID KELANI	MEMBER	2.0	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	$1,129,209	$1,401,432	$5,672,334	$-272,223
2022	$935,570	$679,005	$5,600,569	$256,565
2021	$1,956,569	$1,532,375	$5,955,062	$424,194
2020	$1,908,003	$1,740,831	$5,378,406	$167,172
2019	$2,084,376	$2,115,623	$5,115,913	$-31,247
2018	$2,359,217	$2,071,787	$4,959,255	$287,430