Civic Intelligence

Ifma Educational Foundation

990 • Fiscal year 2017 • EIN 23-7220674

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2020

180 N STETSON AVENUE Suite 850Chicago, IL 60601

(312) 540-4400

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

58th percentile

0.15x

Higher debt load relative to assets than 58% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

78th percentile

0.51x

Higher debt load relative to revenue than 78% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

56th percentile

5.3%

Higher net margin than 56% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

98th percentile

$639,948

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 181.6% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

69th percentile

11%

Faster asset growth than 69% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

88th percentile

61%

Faster revenue growth than 88% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$1,167,909

Up $111,299 (+11%) from 2016

Net Assets

Up

$989,132

Up $156,372 (+19%) from 2016

Liabilities

Down

$178,777

Down $45,073 (-20%) from 2016

Revenue

Up

$352,452

Up $133,458 (+61%) from 2016

Expenses

Up

$333,927

Up $62,235 (+23%) from 2016

Net Income

Up

$18,525

Up $71,223 (+135%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $616,858Liabilities 2011: $59,000Net Assets 2011: $557,8582011Assets 2012: $1,020,131Liabilities 2012: $220,290Net Assets 2012: $799,8412012Assets 2013: $1,027,824Liabilities 2013: $117,840Net Assets 2013: $909,9842013Assets 2014: $1,119,140Liabilities 2014: $210,014Net Assets 2014: $909,1262014Assets 2015: $1,065,291Liabilities 2015: $182,950Net Assets 2015: $882,3412015Assets 2016: $1,056,610Liabilities 2016: $223,850Net Assets 2016: $832,7602016Assets 2017: $1,167,909Liabilities 2017: $178,777Net Assets 2017: $989,1322017Assets 2018: $1,177,692Liabilities 2018: $302,305Net Assets 2018: $875,3872018Assets 2019: $1,343,149Liabilities 2019: $330,780Net Assets 2019: $1,012,3692019Assets 2020: $1,265,828Liabilities 2020: $194,982Net Assets 2020: $1,070,8462020Assets 2021: $1,971,179Liabilities 2021: $373,400Net Assets 2021: $1,597,7792021Assets 2022: $1,869,167Liabilities 2022: $136,763Net Assets 2022: $1,732,4042022Assets 2023: $1,680,499Liabilities 2023: $14,500Net Assets 2023: $1,665,9992023Assets 2024: $1,732,868Liabilities 2024: $205,500Net Assets 2024: $1,527,3682024

Highlighted filing

2017

Assets$1,167,909
Liabilities$178,777
Net Assets$989,132

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$800K$600K$400K$200K$0-$200KExpenses 2011: $84,0412011Expenses 2012: $199,4462012Revenue 2013: $259,937Expenses 2013: $189,856Net Income 2013: $70,0812013Revenue 2014: $288,172Expenses 2014: $289,030Net Income 2014: -$8582014Revenue 2015: $347,073Expenses 2015: $307,129Net Income 2015: $39,9442015Revenue 2016: $218,994Expenses 2016: $271,692Net Income 2016: -$52,6982016Revenue 2017: $352,452Expenses 2017: $333,927Net Income 2017: $18,5252017Revenue 2018: $282,571Expenses 2018: $399,099Net Income 2018: -$116,5282018Revenue 2019: $286,988Expenses 2019: $349,069Net Income 2019: -$62,0812019Revenue 2020: $255,050Expenses 2020: $82,816Net Income 2020: $172,2342020Revenue 2021: $215,500Expenses 2021: $133,294Net Income 2021: $82,2062021Revenue 2022: $481,885Expenses 2022: $509,960Net Income 2022: -$28,0752022Revenue 2023: $544,486Expenses 2023: $475,585Net Income 2023: $68,9012023Revenue 2024: $498,756Expenses 2024: $636,991Net Income 2024: -$138,2352024

Highlighted filing

2017

Revenue$352,452
Expenses$333,927
Net Income$18,525
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2020
Return Version
2017v2.3
Gross Receipts
$352,452
Mission and Program Overview

Mission

Primary purpose is to fund scholarships and support curriculum and training programs for persons interested in a career in the foodservice industry.

Primary purpose is to fund scholarships and support curriculum and training programs for persons interested in a career in the foodservice industry

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$738,240$876,087▲ $137,847
Cash and Non-Interest-Bearing Accounts$57,670$52,947▼ $4,723
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$1,056,610$1,167,909▲ $111,299
Other Assets Total$260,700$238,875▼ $21,825
Liabilities
Accounts Payable and Accrued Expenses$223,850$178,777▼ $45,073
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$223,850$178,777▼ $45,073
Net Assets / Fund Balance
Unrestricted Net Assets$556,910$989,132▲ $432,222
Temporarily Rstr Net Assets$275,850$0▼ $275,850
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$832,760$989,132▲ $156,372
Total Liabilities and Net Assets / Fund Balance$1,056,610$1,167,909▲ $111,299

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$238,875--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$352,452
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$321,710
Change in Net Assets
$18,525
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$202,000
Other Expenses$131,927
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$202,000--$202,000
Fees for Services Accounting-$12,772-$12,772
Other Expenses-$6,100-$6,100
Fees for Service Investment Mgmnt Fees-$5,680-$5,680
Office Expenses-$137-$137
Total Functional Expenses$202,000$131,927$0$333,927
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$30,742---
Total Events$30,742---
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The return is reviewed by the organization's Chief Financial Officer.

Form 990, Part VI, Section B, Line 12C

The Conflict of Interest Policy is reviewed annually and employees are required to sign agreement and compliance with policy.

Form 990, Part VI, Section B, Lines 15A and 15B

There are no compensation policies since the organization has no paid employees.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
IFMA Educational Foundation
EIN
23-7220674
In Care Of
% JENNIFER TARULIS
Phone
3125404400
Address
180 N STETSON AVENUE Suite 850, CHICAGO, IL 60601

Signing Officer

Name
Jennifer Tarulis
Title
CFO
Phone
3125404400
Signed
2020-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathleen Schartner
Formed
1972
Legal Domicile
Il
Voting Board Members
13
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Bdo USA Llp
Address
330 N Wabash Suite 3200, CHICAGO, IL 60611
Preparer
Jacob Cook
Phone
3128569100
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IRS990/MissionDesc0PRIMARY PURPOSE IS TO FUND SCHOLARSHIPS AND SUPPORT CURRICULUM AND TRAINING PROGRAMS FOR PERSONS INTERESTED IN A CAREER IN THE FOODSERVICE INDUSTRY.
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Auction
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Colleges and universities with programs related to the organization's exempt purpose are pre-selected. These institutions select deserving students based upon merit for the awards. The college or university assures that funds are properly used.

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.73$0.21$1.53$0.50$0.64$0.14
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.68$0.01$1.67$0.54$0.48$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.87$0.14$1.73$0.48$0.51$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.97$0.37$1.60$0.22$0.13$0.08
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.27$0.19$1.07$0.26$0.08$0.17
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.34$0.33$1.01$0.29$0.35$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.18$0.30$0.88$0.28$0.40$0.12
2017Detailed filing. Detailed filing data is available for this year.$1.17$0.18$0.99$0.35$0.33$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.06$0.22$0.83$0.22$0.27$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.07$0.18$0.88$0.35$0.31$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.12$0.21$0.91$0.29$0.29$0.00
2013Detailed filing. Detailed filing data is available for this year.$1.03$0.12$0.91$0.26$0.19$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.02$0.22$0.80$0.20
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.62$0.06$0.56$0.08