Civic Intelligence

Iab Education Foundation

990 • Fiscal year 2017 • EIN 47-2617174

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 14, 2018

116 East 27th Street 7th FLNew York, NY 10016

(212) 380-4700

Siviq Scores

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

Liabilities / Assets

64th percentile

0.36x

Higher debt load relative to assets than 64% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

76th percentile

1.37x

Higher debt load relative to revenue than 76% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Source year 2017

Net Margin

3rd percentile

-211%

Higher net margin than 3% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

99th percentile

$971,893

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 314.2% of source-year revenue.

2017 filings • NTEE S • $1M-$5M nonprofits • Source year 2017

Asset Growth

1st percentile

-71%

Faster asset growth than 1% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

1st percentile

-91%

Faster revenue growth than 1% of similar nonprofits.

2017 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Down

$1,160,379

Down $2,871,775 (-71%) from 2016

Net Assets

Down

$737,542

Down $1,253,794 (-63%) from 2016

Liabilities

Down

$422,837

Down $1,617,981 (-79%) from 2016

Revenue

Down

$309,347

Down $2,988,040 (-91%) from 2016

Expenses

Down

$963,141

Down $431,385 (-31%) from 2016

Net Income

Down

-$653,794

Down $2,556,655 (-134%) from 2016

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2015: $612,283Liabilities 2015: $523,808Net Assets 2015: $88,4752015Assets 2016: $4,032,154Liabilities 2016: $2,040,818Net Assets 2016: $1,991,3362016Assets 2017: $1,160,379Liabilities 2017: $422,837Net Assets 2017: $737,5422017Assets 2018: $650,649Liabilities 2018: $45,000Net Assets 2018: $605,6492018Assets 2019: $7,266Liabilities 2019: $2,054Net Assets 2019: $5,2122019Assets 2020: $7,208Liabilities 2020: $2,684Net Assets 2020: $4,5242020Assets 2021: $4,507Liabilities 2021: $1,100Net Assets 2021: $3,4072021

Highlighted filing

2017

Assets$1,160,379
Liabilities$422,837
Net Assets$737,542

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $600,001Expenses 2015: $511,526Net Income 2015: $88,4752015Revenue 2016: $3,297,387Expenses 2016: $1,394,526Net Income 2016: $1,902,8612016Revenue 2017: $309,347Expenses 2017: $963,141Net Income 2017: -$653,7942017Revenue 2018: $160,700Expenses 2018: $292,593Net Income 2018: -$131,8932018Revenue 2019: $0Expenses 2019: $600,437Net Income 2019: -$600,4372019Revenue 2020: $0Expenses 2020: $688Net Income 2020: -$6882020Revenue 2021: $0Expenses 2021: $1,117Net Income 2021: -$1,1172021

Highlighted filing

2017

Revenue$309,347
Expenses$963,141
Net Income-$653,794
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 14, 2018
Return Version
2017v2.3
Gross Receipts
$309,347
Mission and Program Overview

Mission

The iab education foundation is a charitable foundation whose mission is to grow the media and marketing capabilities of companies by developing a diverse workforce.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$2,000,000$900,000▼ $1,100,000
Cash and Non-Interest-Bearing Accounts$224,044$214,498▼ $9,546
Prepaid Expenses and Deferred Charges$50,848$35,658▼ $15,190
Accounts Receivable$30,000$0▼ $30,000
Savings and Temporary Cash Investments$30,212$10,223▼ $19,989
Other Notes and Loans Receivable, Net$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
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Other Assets Total$1,697,050$0▼ $1,697,050
Total Assets$4,032,154$1,160,379▼ $2,871,775
Liabilities
Other Liabilities$1,963,458$367,465▼ $1,595,993
Accounts Payable and Accrued Expenses$77,360$55,372▼ $21,988
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$2,040,818$422,837▼ $1,617,981
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,000,000$900,000▼ $1,100,000
Permanently Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-8,664$-162,458▼ $153,794
Total Net Assets Fund Balance$1,991,336$737,542▼ $1,253,794
Total Liabilities and Net Assets / Fund Balance$4,032,154$1,160,379▼ $2,871,775

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$2,000,000--$1,100,000$900,000
2016-$2,000,000--$2,000,000
Compensation and Service Providers

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Stacey DelariosConsultant40 admiral ave, San Francisco, CA 94112$143,567
Revenue and Support

Revenue Composition

Contributions and Grants
$309,336
Program Service Revenue
$0
Investment Income
$11
Other Revenue
$0
All Other Contributions
$5,000
Change in Net Assets
$-653,794
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$499,873
Salaries, Compensation, and Employee Benefits$463,268
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$420,524--$420,524
Fees for Services Other$305,081--$305,081
Information Technology$66,542--$66,542
Occupancy$36,813--$36,813
Office Expenses$34,866--$34,866
Travel$19,079--$19,079
Payroll Taxes$18,205--$18,205
Other Employee Benefits$17,686--$17,686
Fees for Services Accounting$15,000--$15,000
Other Expenses$13,612--$13,612
Conferences and Meetings$8,880--$8,880
Pension Plan Contributions$6,853--$6,853
Total Functional Expenses$963,141$0$0$963,141
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Interactive Advertising$367,465
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

PART I - LINE 5 & part VI, section A. - question 3

IAB has affiliation agreements with the Foundation to provide, among other things, office space, certain professional services, staffing, office services and other administrative support in exchange for monetary compensation as defined in the agreements. The agreements are automatically renewable each year unless written notice is provided by either party. PART III - LINE 1 THE IAB EDUCATION FOUNDATION (THE "FOUNDATION") IS A CHARITABLE FOUNDATION, A SUBSIDIARY OF THE INTERACTIVE BUREAU (IAB), WHOSE MISSION IS TO GROW THE MEDIA AND MARKETING CAPABILITIES OF COMPANIES BY DEVELOPING A PROFESSIONAL AND DIVERSE WORKFORCE THROUGH EDUCATION, TRAINING AND CERTIFICATION. TO SOLVE THE TWIN PROBLEMS OF A SKILL GAP AND LACK OF DIVERSITY IN THE DIGITAL AD TECH INDUSTRY, THE IAB EDUCATION FOUNDATION IS DEVELOPING SPECIAL ENTRY-LEVEL INSTRUCTIONAL AND CERTIFICATION PROGRAMS FOR UNDERSERVED CONSTITUENCIES, PARTNERING WITH COMMUNITY COLLEGES AND E-LEARNING COMPANIES TO PROVIDE THE TRAINING, AND THEN PLACING OF GRADUATES OF THE PROGRAM INTO ENTRY-LEVEL Positions. PART III - LINE 4A LAUNCHED OUR IDIVERSE DIGITAL MEDIA AND MARKETING FOUNDATIONS WITH THE BOROUGH OF MANHATTAN COMMUNITY COLLEGE IN NYC. WE HAD THREE COHORTS GRADUATE FROM OUR PROGRAM IN 2017; ONE FROM NYC AND TWO THROUGH OUR SILICON VALLEY, CA PARTNER. WEVE HAD OVER 70 PEOPLE GRADUATE AND PASS THE DIGITAL MEDIA AND MARKETING FOUNDATION COURSE AND CERTIFICATION. ADDITIONALLY, WE HELD FOUR CAREER ACCELERATOR EVENTS WHERE OUR STUDENTS WERE ABLE TO MEET WITH HIRING MANAGERS FROM OUR MEMBER COMPANIES AND PARTICIPATE IN ACTIVITIES LIKE MOCK INTERVIEWS, RESUME WRITING ASSISTANCE, AND NETWORKING. LASTLY, WE HELD FOUR DIVERSITY & INCLUSION TASK FORCE MEETINGS.

Part VI, Section A. - Line 6

THE INTERACTIVE ADVERTISING BUREAU, INC. ("IAB") IS THE SOLE MEMBER OF THE FOUNDATION. PART VI, SECTION A. - LINE 7A IAB, the sole member, elects the directors of the foundation on an annual basis. PART VI, SECTION B. - LINE 11B NO REVIEW WAS OR WILL BE CONDUCTED.

Part VI, Section C. - Line 19

The foundation does not make its governing documents, conflict of interest policy and financial statements available to the public.

Filing and Contact Details

Filer

Filer Name
Iab Education Foundation
EIN
47-2617174
In Care Of
% JEANIE CARSTENSEN
Phone
2123804700
Address
116 EAST 27TH STREET 7TH FL, NEW YORK, NY 10016

Signing Officer

Name
Tim Armstrong
Title
Chairman
Phone
2123804700
Signed
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Armstrong
Formed
2014
Legal Domicile
Dc
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
11

Preparer

Firm
CONDON O'MEARA MCGINTY & DONNELLY L
Address
ONE BATTERY PARK PLAZA, NEW YORK, NY 10004-1405
Preparer
James J Reilly
Phone
2126617777
Supplemental Narrative

Additional Explanations

Form 990 Part IX Line 11G

Description:consulting total fees:305081

Financial Statement Notes

part V - line 4

Temporarily restricted net assets include gifts of cash and other assets received with donor-imposed stipulations that will be met either by actions of the Foundation and/or the passage of time. Contributions with donor-imposed restrictions are reported as increases in temporarily restricted net assets. When a donor-imposed restriction expires, that is, when a stipulated time restriction ends or the purpose of the restriction is accomplished, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions. The Foundations policy is to record contributions with donor imposed restrictions that are met in the same year the contributions are received as unrestricted revenue.

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IRS990/MissionDesc0SEE SCHEDULE O.
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IRS990/OfficeExpensesGrp/TotalAmt034866
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IRS990/OtherAssetsTotalGrp/EOYAmt00
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt06853
IRS990/PensionPlanContributionsGrp/TotalAmt06853
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt035658
IRS990/PrincipalOfficerNm0TIM ARMSTRONG
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IRS990/ReportLandBuildingEquipmentInd0false
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE MISSION OF TTHE IAB EDUCATION FOUNDATION IS TO SUPPORT AND CARRY-OUT THE CHARITABLE AND EDUCATIONAL PURPOSES OF INTERACTIVE ADVERTISING BUREAU (ITS SOLE MEMBER), A DELAWARE CORPORATION RECOGNIZED AS EXEMPT FROM FEDERAL TAXATION UNDER INTERNAL REVENUE CODE SECTION 501(C)(6). SPECIFICALLY, IAB EDUCATION FOUNDATION WILL WORK TO EXPAND CAREER OPPORTUNITIES IN THE DIGITAL ADVERTISING INDUSTRY FOR UNDERREPRESENTED CONSTITUENCIES SUCH AS WOMEN, MINORITIES, DISABLED PERSONS, AND VETERANS. IAB EDUCATION FOUNDATION WILL ENGAGE IN ACTIVITIES INVOLVING INDIVIDDUAL INSTRUCTION FOR THE PURPOSE OF IMPROVING AND DEVELOPING INDIVIDUALS' CAPABILITIES.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A - 2
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0INTERACTIVE ADVERTISING BUREAU INC
IRS990ScheduleA/SupportingOrganization509a3Ind0X
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0367465
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO INTERACTIVE ADVERTISING
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Temporarily restricted net assets include gifts of cash and other assets received with donor-imposed stipulations that will be met either by actions of the Foundation and/or the passage of time. Contributions with donor-imposed restrictions are reported as increases in temporarily restricted net assets. When a donor-imposed restriction expires, that is, when a stipulated time restriction ends or the purpose of the restriction is accomplished, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions. The Foundations policy is to record contributions with donor imposed restrictions that are met in the same year the contributions are received as unrestricted revenue.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0part v - line 4
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IRS990ScheduleJ/EquityBasedCompArrngmInd0false
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt19159

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