Civic Intelligence

Kelley Executive Education Foundation Inc.

990 • Fiscal year 2016 • EIN 26-4646019

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 15, 2016

Organization ProfileWWW.KELLEY.IU.EDU/KEP

View Organization Page

1275 E 10th StreetBloomington, IN 47405

(812) 855-0229

Siviq Scores

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

Liabilities / Assets

79th percentile

0.60x

Higher debt load relative to assets than 79% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

47th percentile

0.16x

Higher debt load relative to revenue than 47% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

39th percentile

-0.3%

Higher net margin than 39% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

62nd percentile

$146,454

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

80th percentile

15%

Faster asset growth than 80% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

52nd percentile

3.4%

Faster revenue growth than 52% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$1,359,670

Up $181,097 (+15%) from 2015

Net Assets

Down

$540,171

Down $12,869 (-2.3%) from 2015

Liabilities

Up

$819,499

Up $193,966 (+31%) from 2015

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin39th percentile

Revenue

Up

$5,096,121

Up $167,388 (+3.4%) from 2015

Expenses

Down

$5,108,990

Down $172,886 (-3.3%) from 2015

Net Income

Up

-$12,869

Up $340,274 (+96%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2013: $1,366,777Liabilities 2013: $595,118Net Assets 2013: $771,6592013Assets 2014: $1,958,716Liabilities 2014: $1,055,506Net Assets 2014: $903,2102014Assets 2015: $1,178,573Liabilities 2015: $625,533Net Assets 2015: $553,0402015Assets 2016: $1,359,670Liabilities 2016: $819,499Net Assets 2016: $540,1712016Assets 2017: $1,355,269Liabilities 2017: $717,102Net Assets 2017: $638,1672017Assets 2018: $1,593,457Liabilities 2018: $1,009,394Net Assets 2018: $584,0632018Assets 2019: $1,896,512Liabilities 2019: $1,176,829Net Assets 2019: $719,6832019Assets 2021: $1,125,624Liabilities 2021: $849,376Net Assets 2021: $276,2482021Assets 2022: $1,487,006Liabilities 2022: $1,140,444Net Assets 2022: $346,5622022

Highlighted filing

2016

Assets$1,359,670
Liabilities$819,499
Net Assets$540,171
Open 2016 Filing

Operations Trend

Revenue Growth52nd percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2013: $6,332,5302013Revenue 2014: $5,810,051Expenses 2014: $5,675,527Net Income 2014: $134,5242014Revenue 2015: $4,928,733Expenses 2015: $5,281,876Net Income 2015: -$353,1432015Revenue 2016: $5,096,121Expenses 2016: $5,108,990Net Income 2016: -$12,8692016Revenue 2017: $4,876,539Expenses 2017: $4,778,543Net Income 2017: $97,9962017Revenue 2018: $5,272,217Expenses 2018: $5,326,321Net Income 2018: -$54,1042018Revenue 2019: $6,452,226Expenses 2019: $6,316,606Net Income 2019: $135,6202019Revenue 2021: $3,371,150Expenses 2021: $3,586,406Net Income 2021: -$215,2562021Revenue 2022: $5,994,772Expenses 2022: $5,924,458Net Income 2022: $70,3142022

Highlighted filing

2016

Revenue$5,096,121
Expenses$5,108,990
Net Income-$12,869
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 15, 2016
Return Version
2015v3.0
Gross Receipts
$5,096,121
Mission and Program Overview

Mission

To provide world-class executive development experiences to improve the strategic, organizational, and competitive capabilities of organizations globally.

To provide world-class executive development experiences to improve the strategic,organizational & competitive capabilities of organizations globally.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$484,109$765,928▲ $281,819
Accounts Receivable$583,700$568,789▼ $14,911
Inventories for Sale or Use$26,944$20,002▼ $6,942
Prepaid Expenses and Deferred Charges$83,820$4,951▼ $78,869
Cash and Non-Interest-Bearing Accounts$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
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$1,178,573$1,359,670▲ $181,097
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$422,499$559,274▲ $136,775
Deferred Revenue$203,034$260,225▲ $57,191
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
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$625,533$819,499▲ $193,966
Net Assets / Fund Balance
Unrestricted Net Assets$553,040$540,171▼ $12,869
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$553,040$540,171▼ $12,869
Total Liabilities and Net Assets / Fund Balance$1,178,573$1,359,670▲ $181,097
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Richard MagjukaExecutive DirectorFT$146,454$146,454
Ashok K SoniPresident-$37,500$37,500
Sreenivas KammaDirector-$21,500$21,500
Idalene F KesnerChair-$2,000$2,000
Teresa KaseSecretary-$1,000$1,000

Board Members and Trustees

NameTitle
Dan SmithDirector
Timothy FortDirector
Tricia McdougallDirector
Laureen MainesTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Ramesh VenkataramanInstruction993 S BALDWIN DR, Bloomington, IN 47401$121,500
Carl BriggsInstructionPO BOX 6273, Bloomington, IN 47407$108,800
Richard MagjukaInstruction571 SHADY CREEK DR, Greenwood, IN 46142$105,850
Alexander LopesInstruction3786 S CLAYBRIDGE DR, Bloomington, IN 47401$104,500
Hillol Kumar BalaInstruction3304 E OLCOTT BLVD, Bloomington, IN 47401$101,500
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,094,907
Investment Income
$1,214
Other Revenue
$0
Change in Net Assets
$-12,869

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,096,121
Revenue Not Reported on Form 990
$208,622
Total Revenue per Audited Statements
$5,304,743
Total Revenue per Form 990
$5,096,121
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,433,978
Salaries, Compensation, and Employee Benefits$675,012
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$2,056,241$189,208$0$2,245,449
Travel$1,457,428$0$0$1,457,428
Payments to Affiliates$500,000--$500,000
Other Salaries and Wages$312,308$43,802$0$356,110
Current Officers, Directors, Trustees, and Key Employees$148,471$20,823$0$169,294
Office Expenses$132,273$35,035$0$167,308
Other Employee Benefits$52,799$7,405$0$60,204
Payroll Taxes$49,865$6,994$0$56,859
Fees for Services Accounting$0$35,929$0$35,929
Pension Plan Contributions$28,542$4,003$0$32,545
Advertising$12,479$0$0$12,479
Conferences and Meetings$6,204$0$0$6,204
Information Technology$6,006$0$0$6,006
Other Expenses$2,625$0$0$2,625
Fees for Services Legal$0$550$0$550
Total Functional Expenses$4,765,241$343,749$0$5,108,990

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,317,612
Expenses per Audited Statements$5,108,990
Total Expenses per Form 990$5,108,990
Expenses Not Reported on Form 990$208,622
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
Audit committee
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
Yes
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, Line 1A

“The chair has 50% of the voting rights and the remaining members of the board of directors have the other 50% of the voting rights. Form 990, part vi, line 1b richard magjuka, ashok soni, and sreenivas kamma are compensated over $10,000 as paid independent contractors of the organization and are therefore considered non-independent. Form 990, part vi, line 7 the dean of indiana university's kelley school of business appoints all of the directors of kelley executive education foundation, inc. And the dean can appoint someone to represent them and their 50% voting rights as a board member. Form990,part vi, section b, line 11a the management team of the organization and an independent cpa firm review the form 990 for accuracy prior to signing. The form 990 is provided to all officers and directors prior to submission.”

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

“All current officers and directors are covered under a conflict of interest policy which is updated annually. If a conflict is disclosed, the individual will recuse him or herself from discussions and voting. This will be documented in the minutes.”

Form 990, Part VI, Section B, Line 15A

“Richard magjuka was paid as an independent contractor and an employee by keefi and his compensation was determined by contract.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy, and financial statements are all available upon request.”

Form 990, Part VII

“None of the board members were compensated for their services as a board member. All board members receiving compensation were paid as independent contractors for services provided as instructors in kelley executive education foundation's programs.”

Filing and Contact Details

Filer

Filer Name
Kelley Executive Education Foundation Inc
EIN
26-4646019
In Care Of
% RICHARD MAGJUKA
Phone
8128550229
Address
1275 E 10TH STREET, BLOOMINGTON, IN 47405
Doing Business As
Kelley Executive Partners

Signing Officer

Name
Laureen a Maines
Title
Treasurer
Phone
8128550229
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Magjuka
Formed
2009
Legal Domicile
In
Voting Board Members
9
Independent Board Members
6
Employees
9
Volunteers
7

Preparer

Firm
Bkd Llp
Address
200 E Main St Suite 700, Fort Wayne, IN 46802
Preparer
Joyce A Dulworth
Phone
2604604000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contractual asset expenses 66,000 faculty compensation 1,916,522 other fees program 259,927 other fees + 3,000 total other fees for services 2,245,449”

Financial Statement Notes

Asc 740 Footnote

“Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements. Part xi, line 2b: use of facilities: $208,622 part xii, line 2a: use of facilities: $208,622”

Raw XML AppendixShowing 400 of 550 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,359,670
Liabilities
$819,499
Net assets
$540,171
Revenue
$5,096,121
Expenses
$5,108,990
Net income
-$12,869
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.49$1.14$0.35$5.99$5.92$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.13$0.85$0.28$3.37$3.59$0.22
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.90$1.18$0.72$6.45$6.32$0.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.59$1.01$0.58$5.27$5.33$0.05
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$0.72$0.64$4.88$4.78$0.10
2016Detailed filing. Detailed filing data is available for this year.$1.36$0.82$0.54$5.10$5.11$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.18$0.63$0.55$4.93$5.28$0.35
2014Detailed filing. Detailed filing data is available for this year.$1.96$1.06$0.90$5.81$5.68$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.37$0.60$0.77$6.33