Civic Intelligence

Iab Education Foundation

990 • Fiscal year 2018 • EIN 47-2617174

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 31, 2019

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

47th percentile

0.07x

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

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

77th percentile

0.28x

Higher debt load relative to revenue than 77% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Net Margin

6th percentile

-82%

Higher net margin than 6% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

100th percentile

$1,069,490

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 665.5% of source-year revenue.

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Asset Growth

3rd percentile

-44%

Faster asset growth than 3% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

8th percentile

-48%

Faster revenue growth than 8% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Down

$650,649

Down $509,730 (-44%) from 2017

Net Assets

Down

$605,649

Down $131,893 (-18%) from 2017

Liabilities

Down

$45,000

Down $377,837 (-89%) from 2017

Revenue

Down

$160,700

Down $148,647 (-48%) from 2017

Expenses

Down

$292,593

Down $670,548 (-70%) from 2017

Net Income

Up

-$131,893

Up $521,901 (+80%) from 2017

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

2018

Assets$650,649
Liabilities$45,000
Net Assets$605,649

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

2018

Revenue$160,700
Expenses$292,593
Net Income-$131,893
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 31, 2019
Return Version
2018v3.1
Gross Receipts
$160,700
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$900,000$650,000▼ $250,000
Prepaid Expenses and Deferred Charges$35,658--
Savings and Temporary Cash Investments$10,223--
Cash and Non-Interest-Bearing Accounts$214,498$649▼ $213,849
Total Assets$1,160,379$650,649▼ $509,730
Liabilities
Other Liabilities$367,465$0▼ $367,465
Accounts Payable and Accrued Expenses$55,372$45,000▼ $10,372
Total Liabilities$422,837$45,000▼ $377,837
Net Assets / Fund Balance
Temporarily Rstr Net Assets$900,000$650,000▼ $250,000
Unrestricted Net Assets$-162,458$-44,351▲ $118,107
Total Net Assets Fund Balance$737,542$605,649▼ $131,893
Total Liabilities and Net Assets / Fund Balance$1,160,379$650,649▼ $509,730

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$900,000--$250,000$650,000
2017$2,000,000--$1,100,000$900,000
2016-$2,000,000--$2,000,000
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$160,698
Program Service Revenue
$0
Investment Income
$2
Other Revenue
$0
All Other Contributions
$146,030
Change in Net Assets
$-131,893

Audited Revenue Reconciliation

Revenue per Audited Statements
$160,700
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$160,700
Total Revenue per Form 990
$160,700
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$292,593
Total Fundraising Expense$31,670
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$159,487$41,774$23,259$224,520
Information Technology$24,297$5,680$5,680$35,657
Fees for Services Accounting-$12,000-$12,000
Office Expenses$5,747$1,232$1,232$8,211
Conferences and Meetings$4,593$984$984$6,561
Travel$2,402$515$515$3,432
Fees for Services Other$1,900--$1,900
Fees for Services Legal$312--$312
Total Functional Expenses$198,738$62,185$31,670$292,593

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$292,593
Total Expenses per Audited Statements$292,593
Total Expenses per Form 990$292,593
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 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.

Form 990, Part VI, Section A, Line 6

The interactive advertising bureau, inc. ("iab") is the sole member of the foundation.

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

Iab, the sole member, elects the directors of the foundation on an annual basis.

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

No review was or will be conducted.

Form 990, 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
Phone
2123804700
Address
116 EAST 27TH STREET 7TH FL, NEW YORK, NY 10016

Signing Officer

Name
Tim Armstrong
Title
Chairman
Phone
2123804700
Signed
2019-10-31
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 LLP
Address
ONE BATTERY PARK PLAZA 7TH FL, NEW YORK, NY 10004
Preparer
James J Reilly
Phone
2126617777
Supplemental Narrative

Additional Explanations

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. We've 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.

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 that are met in the same year the contributions are received as unrestricted revenue.

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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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE MISSION OF THE 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 INDIVDUAL INSTRUCTION FOR THE PURPOSE OF IMPROVING AND DEVELOPING INDIVIDUALS CAPABILITIES.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A - 2
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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 THAT ARE MET IN THE SAME YEAR THE CONTRIBUTIONS ARE RECEIVED AS UNRESTRICTED REVENUE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LAUNCHED 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. WE'VE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IAB 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE INTERACTIVE ADVERTISING BUREAU, INC. ("IAB") IS THE SOLE MEMBER OF THE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4IAB, THE SOLE MEMBER, ELECTS THE DIRECTORS OF THE FOUNDATION ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE FOUNDATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III - LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART III - LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
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