Civic Intelligence

Kelley Executive Education Foundation Inc.

990 • Fiscal year 2020 • EIN 26-4646019

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 15, 2020

Organization ProfileSEE SCHEDULE O

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

82nd percentile

0.54x

Higher debt load relative to assets than 82% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

47th percentile

0.12x

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

28th percentile

-4.8%

Higher net margin than 28% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

89th percentile

$196,218

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 4.1% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

2nd percentile

-44%

Faster asset growth than 2% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

19th percentile

-26%

Faster revenue growth than 19% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$1,060,159

Down $836,353 (-44%) from 2019

Net Assets

Down

$491,504

Down $228,179 (-32%) from 2019

Liabilities

Down

$568,655

Down $608,174 (-52%) from 2019

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin28th percentile

Revenue

Down

$4,784,984

Down $1,667,242 (-26%) from 2019

Expenses

Down

$5,013,163

Down $1,303,443 (-21%) from 2019

Net Income

Down

-$228,179

Down $363,799 (-268%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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 2020: $1,060,159Liabilities 2020: $568,655Net Assets 2020: $491,5042020Assets 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

2020

Assets$1,060,159
Liabilities$568,655
Net Assets$491,504
Open 2020 Filing

Operations Trend

Revenue Growth19th 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 2020: $4,784,984Expenses 2020: $5,013,163Net Income 2020: -$228,1792020Revenue 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

2020

Revenue$4,784,984
Expenses$5,013,163
Net Income-$228,179
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 15, 2020
Return Version
2019v5.1
Gross Receipts
$4,784,984
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$112,196$736,663▲ $624,467
Accounts Receivable$1,599,481$263,898▼ $1,335,583
Inventories for Sale or Use$23,023$34,502▲ $11,479
Prepaid Expenses and Deferred Charges$161,812$25,096▼ $136,716
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$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$1,896,512$1,060,159▼ $836,353
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$827,990$310,946▼ $517,044
Accounts Payable and Accrued Expenses$348,839$257,709▼ $91,130
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$1,176,829$568,655▼ $608,174
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$719,683$491,504▼ $228,179
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$719,683$491,504▼ $228,179
Total Liabilities and Net Assets / Fund Balance$1,896,512$1,060,159▼ $836,353
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ron ThomasExecutive DirectorFT$176,730$19,488$196,218
Richard MagjukaDirectorPT$112,000-$112,000
Sreenivas KammaDirector-$39,000-$39,000
Ashok K SoniPresident-$4,000-$4,000

Board Members and Trustees

NameTitle
Idalene F KesnerChair
Dan SmithDirector
John WhelanDirector
Jt ForbesDirector
Kim Van LueDirector
Timothy FortDirector
Teresa KaseSecretary
Laureen MainesTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Raymond LutherProgram Deliveries2936 N BANKERS DR, Bloomington, IN 47408$136,150
Carl BriggsConsultingPO BOX 5371, Bloomington, IN 47407$126,900
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,783,835
Investment Income
$1,149
Other Revenue
$0
Change in Net Assets
$-228,179

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,784,984
Revenue Not Reported on Form 990
$155,746
Total Revenue per Audited Statements
$4,940,730
Total Revenue per Form 990
$4,784,984
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,068,027
Salaries, Compensation, and Employee Benefits$945,136
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$2,268,185$6,166-$2,274,351
Travel$1,212,107$348-$1,212,455
Other Salaries and Wages$307,921$159,319-$467,240
Payments to Affiliates$284,756--$284,756
Current Officers, Directors, Trustees, and Key Employees$174,499$58,166-$232,665
Office Expenses$131,435$20,526-$151,961
Other Employee Benefits$100,346$33,449-$133,795
Advertising$66,140$3,397-$69,537
Pension Plan Contributions$45,044$19,260-$64,304
Payroll Taxes$33,014$14,118-$47,132
Fees for Services Accounting-$36,520-$36,520
Other Expenses-$21,153$0$21,153
Conferences and Meetings$9,779--$9,779
Information Technology$5,385--$5,385
Fees for Services Legal-$2,130-$2,130
Total Functional Expenses$4,638,611$374,552$0$5,013,163

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,168,909
Expenses per Audited Statements$5,013,163
Total Expenses per Form 990$5,013,163
Expenses Not Reported on Form 990$155,746
Fundraising, Events, and Gaming
Fundraising activities
No
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
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 35% controlled entity
No
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, 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 of ksbee 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 school of business executive education's programs. Richard magjuka received compensation as an employee.”

Filing and Contact Details

Filer

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

Signing Officer

Name
Laureen a Maines
Title
Treasurer
Phone
8128550229
Signed
2020-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Idalene F Kesner
Formed
2009
Legal Domicile
In
Voting Board Members
11
Independent Board Members
9
Employees
9
Volunteers
8

Preparer

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

Additional Explanations

Form 990, Heading J

“Ksbee's website address is www.kelley.iu.edu/programs/executive-education. 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 and sreenivas kamma are compensated over $10,000 as a 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. Form 990, 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 IX Line 11G

“Description:faculty compensation total fees:1846438”

Form 990 Part IX Line 11G

“Description:other fees program total fees:421747”

Form 990 Part IX Line 11G

“Description:other fees total fees:6166”

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.”

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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,060,159
Liabilities
$568,655
Net assets
$491,504
Revenue
$4,784,984
Expenses
$5,013,163
Net income
-$228,179
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
2020Detailed filing. Detailed filing data is available for this year.$1.06$0.57$0.49$4.78$5.01$0.23
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
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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