Civic Intelligence

Institute of Food Techologists Inc.

990 • Fiscal year 2014 • EIN 36-2136957

Sep 01, 2013 to Aug 31, 2014 • Filed on Jun 30, 2015

525 West Van Buren No 100060607

(312) 782-8424

Siviq Scores

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

Liabilities / Assets

46th percentile

0.24x

Higher debt load relative to assets than 46% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Liabilities / Revenue

58th percentile

0.43x

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

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Net Margin

45th percentile

2.3%

Higher net margin than 45% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Top Officer Pay

85th percentile

$531,172

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Asset Growth

81st percentile

15%

Faster asset growth than 81% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Up

$35,207,457

Up $4,700,230 (+15%) from 2013

Net Assets

Up

$26,817,889

Up $3,168,492 (+13%) from 2013

Liabilities

Up

$8,389,568

Up $1,531,738 (+22%) from 2013

Revenue

$19,466,216

No earlier filing loaded for comparison.

Expenses

Up

$19,020,434

Up $112,479 (+0.6%) from 2013

Net Income

$445,782

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $22,176,470Liabilities 2010: $4,355,665Net Assets 2010: $17,820,8052010Assets 2012: $26,787,047Liabilities 2012: $6,063,797Net Assets 2012: $20,723,2502012Assets 2013: $30,507,227Liabilities 2013: $6,857,830Net Assets 2013: $23,649,3972013Assets 2014: $35,207,457Liabilities 2014: $8,389,568Net Assets 2014: $26,817,8892014Assets 2015: $36,259,779Liabilities 2015: $9,544,110Net Assets 2015: $26,715,6692015Assets 2016: $39,730,996Liabilities 2016: $9,514,178Net Assets 2016: $30,216,8182016Assets 2017: $42,897,669Liabilities 2017: $9,978,391Net Assets 2017: $32,919,2782017Assets 2018: $44,004,485Liabilities 2018: $9,391,711Net Assets 2018: $34,612,7742018Assets 2020: $45,292,603Liabilities 2020: $13,547,126Net Assets 2020: $31,745,4772020Assets 2021: $45,062,972Liabilities 2021: $14,880,051Net Assets 2021: $30,182,9212021Assets 2022: $46,520,037Liabilities 2022: $13,277,490Net Assets 2022: $33,242,5472022Assets 2024: $58,378,256Liabilities 2024: $14,456,615Net Assets 2024: $43,921,6412024

Highlighted filing

2014

Assets$35,207,457
Liabilities$8,389,568
Net Assets$26,817,889

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $16,310,3312010Expenses 2012: $17,150,0552012Expenses 2013: $18,907,9552013Revenue 2014: $19,466,216Expenses 2014: $19,020,434Net Income 2014: $445,7822014Revenue 2015: $20,627,582Expenses 2015: $19,723,652Net Income 2015: $903,9302015Revenue 2016: $21,776,621Expenses 2016: $20,225,461Net Income 2016: $1,551,1602016Revenue 2017: $21,543,522Expenses 2017: $20,616,559Net Income 2017: $926,9632017Revenue 2018: $26,272,496Expenses 2018: $24,092,399Net Income 2018: $2,180,0972018Revenue 2020: $16,291,183Expenses 2020: $18,779,694Net Income 2020: -$2,488,5112020Revenue 2021: $9,557,520Expenses 2021: $15,825,729Net Income 2021: -$6,268,2092021Revenue 2022: $24,082,947Expenses 2022: $22,926,798Net Income 2022: $1,156,1492022Revenue 2024: $27,333,151Expenses 2024: $28,482,556Net Income 2024: -$1,149,4052024

Highlighted filing

2014

Revenue$19,466,216
Expenses$19,020,434
Net Income$445,782
Jump To
Filing Snapshot
Filing Period
Sep 1, 2013 to Aug 31, 2014
Signed
Jun 30, 2015
Return Version
2013v4.0
Gross Receipts
$28,767,956
Mission and Program Overview

Mission

As an organization, the institute of food technologists is focusing its work in four main areas, or "roles and goals." each is wide-reaching and helps to advance our mission.steward for the profession and its community - provide learning, networking and leadership development experiences that enable food science and technology professionals to become leaders in the global food science community.research champion and innovation catalyst - champion emerging sciences and foster technology development, application and transfer to increase funding for food-related research and to support innovation in food science.influential advocate and trusted spokesorganization - engage in advocacy and communication efforts that enhance recognition of the profession and result in increased understanding and application of the science of food.global citizen and partner - proactively contribute to, and be a partner for, the global advancement and application of the science of food.

The institute of food technologists exists to advance the science of food. Our long-range vision is to ensure a safe and abundant food supply contributing to healthier people everywhere. The institute of food technologists strives to provide an inclusive and welcoming community for all food science and technology professionals and the knowledge and tools they need to enhance their professional competency.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$24,005,693$27,343,807▲ $3,338,114
Cash and Non-Interest-Bearing Accounts$3,249,605$4,099,073▲ $849,468
Land, Buildings, and Equipment, Net$338,998$1,801,871▲ $1,462,873
Accounts Receivable$1,418,933$1,577,745▲ $158,812
Prepaid Expenses and Deferred Charges$1,407,451$384,961▼ $1,022,490
Total Assets$30,507,227$35,207,457▲ $4,700,230
Other Assets Total$86,547$0▼ $86,547
Liabilities
Deferred Revenue$3,703,522$4,990,631▲ $1,287,109
Accounts Payable and Accrued Expenses$1,817,598$2,298,568▲ $480,970
Other Liabilities$1,336,710$1,100,369▼ $236,341
Total Liabilities$6,857,830$8,389,568▲ $1,531,738
Net Assets / Fund Balance
Unrestricted Net Assets$23,649,397$26,817,889▲ $3,168,492
Total Net Assets Fund Balance$23,649,397$26,817,889▲ $3,168,492
Total Liabilities and Net Assets / Fund Balance$30,507,227$35,207,457▲ $4,700,230

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$590,245$2,429,902$3,020,147
Leasehold Improvements$1,211,626$359,346$1,570,972
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Barbara Byrd KeenanFormer CEO and SecretaryFT$458,293$72,879$531,172
William FisherVP Govt and Public RelatioFT$220,731$53,382$274,113
Mark BarenieChief Financial OfficerFT$200,354$47,188$247,542
Jerry BowmanVP Communications/media ReFT$187,566$39,767$227,333
Christine KleinVP Meetings & Business PartnershipsFT$161,600$36,580$198,180
Marc BernsteinVP of Information TechnoloFT$162,459$35,235$197,694
Robert SwientekDirector of PublicationsFT$153,463$34,278$187,741
Revenue and Support

Revenue Composition

Contributions and Grants
$127,563
Program Service Revenue
$18,360,527
Investment Income
$910,832
Other Revenue
$67,294
All Other Contributions
$27,563
Change in Net Assets
$445,782
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,338,469
Salaries, Compensation, and Employee Benefits$8,504,408
Grants and Similar Amounts Paid$177,557
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,924,872$621,355-$6,546,227
Fees for Services Other$1,893,987$423,950-$2,317,937
Conferences and Meetings$2,083,088$137,905-$2,220,993
Office Expenses$1,022,483$388,149-$1,410,632
Occupancy$211,147$1,110,935-$1,322,082
Travel$543,923$272,816-$816,739
Other Employee Benefits-$776,777-$776,777
Pension Plan Contributions-$678,075-$678,075
Payroll Taxes$-2,924$506,253-$503,329
Information Technology$286,249$127,263-$413,512
Depreciation Depletion-$193,017-$193,017
Grants to Domestic Individuals$177,557--$177,557
Insurance$50,909$38,405-$89,314
Fees for Services Legal$423$75,906-$76,329
Other Expenses$11,816$45,482-$57,298
Fees for Services Accounting-$38,432-$38,432
Advertising$35,932--$35,932
Total Functional Expenses$13,230,695$5,789,739$0$19,020,434
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent Obligation$1,063,459
Due to Feeding Tomorrow$36,910
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The institute of food technologists is a professional membership organization.

Form 990, Part VI, Section A, Line 7A

The members of the institute of food technologists participate in an annual nominations and elections process to determine the members of the organizations governing body.

Form 990, Part VI, Section B, Line 11

The institute of food technologists' governing body has designated the board treasurer as the individual responsible for reviewing the form 990 on the board's behalf prior to filing. The form 990 will also be reviewed by the organization's chief executive officer and chief financial officer prior to filing.

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

The institute of food technologists' board of directors receives a policy manual on an annual basis which includes the conflict of interest policy. Each member acknowledges receipt of the policy on a form which also contains a statement that the officer or director will comply with the policy and is currently unaware of any transaction in which he or she is involved in which would constitute a conflict of interest as defined. Should such a transaction arise, the officer or director will notify the board or executive vice president of the circumstances and act in accordance with the policy with respect to that transaction.

Form 990, Part VI, Section B, Line 15

The compensation of the institute of food technologists' chief executive officer was determined upon hire by the board of directors and documented in an employment contract. Subsequently on an annual basis, compensation changes are determined by the office of the president. Compensation of other employees is determined on an annual basis by the chief executive officer. The chief human resources officer performs a salary survey at that time to ensure compensation is within a reasonable range when compared to the market.

Form 990, Part VI, Section C, Line 18

Documents are made available to the public upon request at the institute of food technologists' headquarters.

Form 990, Part VI, Section C, Line 19

Documents are made available to the public upon request at the institute of food technologists' headquarters.

Filing and Contact Details

Filer

EIN
36-2136957
Phone
3127828424

Signing Officer

Name
Barbara Byrd Keenan
Title
Chief Executive Officer
Phone
3127828424
Signed
2015-06-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christie Tarantino
Formed
1939
Legal Domicile
Il
Voting Board Members
21
Independent Board Members
16
Employees
84
Volunteers
1,600

Preparer

Preparer
Gregory S Adams
Phone
6305738600
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other: program service expenses 1,893,987. Management and general expenses 423,950. Fundraising expenses 0. Total expenses 2,317,937.

Form 990, Part XII, Line 2C

The institute of food technologists has an audit committee that assumes responsibility for oversight of the audit and selection of the independent accountant. The oversight and selection process has not changed during the year.

Financial Statement Notes

PART X, LINE 2:

The institute and the foundation are tax-exempt organizations as defined by section 501(c)(3) of the internal revenue code and have been classified as organizations that are not private foundations under section 509(a)(2). Contributions to the institute and the foundation qualify for the charitable contribution deduction under section 170(b)(1)(a). The institute follows the requirements for accounting for uncertain tax positions. The institute has determined that it is not required to record a liability related to uncertain tax positions as of august 31, 2014 or 2013. The institute and the foundation are subject to income taxes on any unrelated business income. The institute and the foundation had no unrelated business net income and there were no taxes owed for the years ended august 31, 2014 and 2013. The returns for the institute and foundation for 2010, 2011 and 2012 are subject to examination by the internal revenue service, generally for three years after they were filed.

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IRS990/Form990PartVIISectionAGrp/PersonNm14ANNE GOLDMAN
IRS990/Form990PartVIISectionAGrp/PersonNm15DALLAS G HOOVER
IRS990/Form990PartVIISectionAGrp/PersonNm16DR KATHY M KAPICA
IRS990/Form990PartVIISectionAGrp/PersonNm17JONATHAN L BAUGHER
IRS990/Form990PartVIISectionAGrp/PersonNm18JAY TIMOTHY GILBERT
IRS990/Form990PartVIISectionAGrp/PersonNm19DR ROBERT GRAVANI
IRS990/Form990PartVIISectionAGrp/PersonNm20MARK BARENIE
IRS990/Form990PartVIISectionAGrp/PersonNm21WILLIAM FISHER
IRS990/Form990PartVIISectionAGrp/PersonNm22CHRISTINE KLEIN
IRS990/Form990PartVIISectionAGrp/PersonNm23JERRY BOWMAN
IRS990/Form990PartVIISectionAGrp/PersonNm24MARC BERNSTEIN
IRS990/Form990PartVIISectionAGrp/PersonNm25ROBERT SWIENTEK
IRS990/Form990PartVIISectionAGrp/PersonNm26BARBARA BYRD KEENAN
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt250
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt260
IRS990/Form990PartVIISectionAGrp/TitleTxt0PAST PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt21VP GOVT AND PUBLIC RELATIO
IRS990/Form990PartVIISectionAGrp/TitleTxt22VP MEETINGS & BUSINESS PARTNERSHIPS
IRS990/Form990PartVIISectionAGrp/TitleTxt23VP COMMUNICATIONS/MEDIA RE
IRS990/Form990PartVIISectionAGrp/TitleTxt24VP OF INFORMATION TECHNOLO
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR OF PUBLICATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt26FORMER CEO AND SECRETARY
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IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0AS AN ORGANIZATION, THE INSTITUTE OF FOOD TECHNOLOGISTS IS FOCUSING ITS WORK IN FOUR MAIN AREAS, OR "ROLES AND GOALS." EACH IS WIDE-REACHING AND HELPS TO ADVANCE OUR MISSION.STEWARD FOR THE PROFESSION AND ITS COMMUNITY - PROVIDE LEARNING, NETWORKING AND LEADERSHIP DEVELOPMENT EXPERIENCES THAT ENABLE FOOD SCIENCE AND TECHNOLOGY PROFESSIONALS TO BECOME LEADERS IN THE GLOBAL FOOD SCIENCE COMMUNITY.RESEARCH CHAMPION AND INNOVATION CATALYST - CHAMPION EMERGING SCIENCES AND FOSTER TECHNOLOGY DEVELOPMENT, APPLICATION AND TRANSFER TO INCREASE FUNDING FOR FOOD-RELATED RESEARCH AND TO SUPPORT INNOVATION IN FOOD SCIENCE.INFLUENTIAL ADVOCATE AND TRUSTED SPOKESORGANIZATION - ENGAGE IN ADVOCACY AND COMMUNICATION EFFORTS THAT ENHANCE RECOGNITION OF THE PROFESSION AND RESULT IN INCREASED UNDERSTANDING AND APPLICATION OF THE SCIENCE OF FOOD.GLOBAL CITIZEN AND PARTNER - PROACTIVELY CONTRIBUTE TO, AND BE A PARTNER FOR, THE GLOBAL ADVANCEMENT AND APPLICATION OF THE SCIENCE OF FOOD.
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IRS990/OtherExpensesGrp/ProgramServicesAmt1335304
IRS990/OtherExpensesGrp/ProgramServicesAmt245181
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IRS990/OtherExpensesGrp/TotalAmt1472506
IRS990/OtherExpensesGrp/TotalAmt2150662
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IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUES
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0384961
IRS990/PrincipalOfficerNm0CHRISTIE TARANTINO
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.4$14.5$43.9$27.3$28.5$1.15
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$46.5$13.3$33.2$24.1$22.9$1.16
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$45.1$14.9$30.2$9.56$15.8$6.27
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$45.3$13.5$31.7$16.3$18.8$2.49
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$44.0$9.39$34.6$26.3$24.1$2.18
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$42.9$9.98$32.9$21.5$20.6$0.93
2016Detailed filing. Detailed filing data is available for this year.$39.7$9.51$30.2$21.8$20.2$1.55
2015Detailed filing. Detailed filing data is available for this year.$36.3$9.54$26.7$20.6$19.7$0.90
2014Detailed filing. Detailed filing data is available for this year.$35.2$8.39$26.8$19.5$19.0$0.45
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.5$6.86$23.6$18.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.8$6.06$20.7$17.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.2$4.36$17.8$16.3
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