INSTITUTE FOR THE FUTURE OF LAW PRACTICE INC

EIN: 824134296 501(c)(3)

BLOOMINGTON, IN

Total Revenue
$339,532
Total Expenses
$356,785
Total Assets
$41,646
Net Assets
$22,269
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
IL
Principal Officer
KEVIN COLANGELO
Phone
9173021157
Tax Period
2020-08-01 to 2021-07-31

INSTITUTE FOR THE FUTURE OF LAW PRACTICE INC, founded in 2018, is a small nonprofit that reported $340K in total revenue in fiscal year 2020. Revenue surged 29% from the prior year, signaling strong growth momentum.

Mission

The Institute is organized and operated exclusively to educate law students and mid-career professionals on advanced and emerging methods of law practice, often with an emphasis on data, process, and technology including through the facilitation of internships and field placement of law students with participating legal employers who want a workforce with advance training not currently offered in law schools.

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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%)

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Financial Overview (2020)

Revenue Breakdown

Contributions & Grants $288,532
Program Service Revenue $51,000
Investment Income $0
Other Revenue $0
TOTAL REVENUE $339,532

Expense Breakdown

Grants Paid $0
Salaries & Benefits $318,886
Fundraising Expenses $0
Program Expenses $345,400
Other Expenses $37,899
TOTAL EXPENSES $356,785

Year-over-Year Comparison

2020 2019 Change
Revenue $339,532 $262,564 +0.3%
Expenses $356,785 $252,487 +0.4%
Net Income $-17,253 $10,077 -2.7%
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

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Governance

Voting Members
15
Independent Members
15
Employees
1
Volunteers
2

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
4
$98,600
Total Directors
18
$108,700
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Daniel Linna Secretary 1
Officer Director
$40,000 $0 $40,000
William Mooz President 1
Officer Director
$26,800 $0 $26,800
Kevin Colangelo Executive Director 40
Officer Director
$25,000 $0 $25,000
Monica Goyal Board Member 1
Director
$10,100 $0 $10,100
William Henderson Treasurer & Director of Development 5
Officer Director
$6,800 $0 $6,800
David Cambria Board Member 1
Director
$0 $0 $0
Jayne Reardon Board Member 1
Director
$0 $0 $0
John Pierre Board Member 1
Director
$0 $0 $0
Jorge Alvarez Board Member 1
Director
$0 $0 $0
Kathryn DeBord Board Member 1
Director
$0 $0 $0
Matthew Todd Board Member 1
Director
$0 $0 $0
Ralph Baxter Board Member 1
Director
$0 $0 $0
Steven Harmon Board Member 1
Director
$0 $0 $0
Timothy Mohan Board Member 1
Director
$0 $0 $0
Trezell Ragas Board Member 1
Director
$0 $0 $0
Victoria Watkins Board Member 1
Director
$0 $0 $0
Vince Cordo Board Member 1
Director
$0 $0 $0
Wendy Bernero Board Member 1
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
2021 $339,532 $356,785 $41,646 $-17,253
2020 $262,564 $252,487 $43,218 $10,077
2019 $243,731 $304,355 $25,980 $-60,624
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