Civic Intelligence

ICI Educational Foundation

990 • Fiscal year 2019 • EIN 52-1659777

Oct 01, 2018 to Sep 30, 2019 • Filed on Jul 29, 2020

Organization ProfileN/A
1401 H Street NWWashington, DC 20005

(202) 326-5800

Siviq Scores

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

Liabilities / Assets

38th percentile

0.03x

Higher debt load relative to assets than 38% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

65th percentile

0.20x

Higher debt load relative to revenue than 65% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

80th percentile

23%

Higher net margin than 80% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

100th percentile

$2,960,009

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 1044.6% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

34th percentile

-1.2%

Faster asset growth than 34% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

70th percentile

15%

Faster revenue growth than 70% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets38th percentile

Assets

Down

$1,791,617

Down $22,451 (-1.2%) from 2018

Net Assets

Up

$1,734,767

Up $107,383 (+6.6%) from 2018

Liabilities

Down

$56,850

Down $129,834 (-70%) from 2018

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin80th percentile

Revenue

Up

$283,354

Up $37,249 (+15%) from 2018

Expenses

Down

$217,640

Down $1,127 (-0.5%) from 2018

Net Income

Up

$65,714

Up $38,376 (+140%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $1,340,350Liabilities 2010: $22,925Net Assets 2010: $1,317,4252010Assets 2011: $1,379,077Liabilities 2011: $35,613Net Assets 2011: $1,343,4642011Assets 2012: $1,425,579Liabilities 2012: $19,925Net Assets 2012: $1,405,6542012Assets 2013: $1,507,605Liabilities 2013: $47,550Net Assets 2013: $1,460,0552013Assets 2014: $1,521,507Liabilities 2014: $59,250Net Assets 2014: $1,462,2572014Assets 2015: $1,576,876Liabilities 2015: $38,850Net Assets 2015: $1,538,0262015Assets 2016: $1,641,520Liabilities 2016: $48,534Net Assets 2016: $1,592,9862016Assets 2017: $1,711,966Liabilities 2017: $80,866Net Assets 2017: $1,631,1002017Assets 2018: $1,814,068Liabilities 2018: $186,684Net Assets 2018: $1,627,3842018Assets 2019: $1,791,617Liabilities 2019: $56,850Net Assets 2019: $1,734,7672019Assets 2020: $1,875,992Liabilities 2020: $68,000Net Assets 2020: $1,807,9922020Assets 2021: $1,818,818Liabilities 2021: $39,939Net Assets 2021: $1,778,8792021Assets 2022: $1,801,522Liabilities 2022: $0Net Assets 2022: $1,801,5222022Assets 2023: $1,909,769Liabilities 2023: $0Net Assets 2023: $1,909,7692023Assets 2024: $2,086,410Liabilities 2024: $0Net Assets 2024: $2,086,4102024

Highlighted filing

2019

Assets$1,791,617
Liabilities$56,850
Net Assets$1,734,767
Open 2019 Filing

Operations Trend

Revenue Growth70th percentile

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

$300K$200K$100K$0-$100KExpenses 2010: $174,4722010Expenses 2011: $178,6172011Expenses 2012: $193,7772012Expenses 2013: $175,4562013Revenue 2014: $74,710Expenses 2014: $88,897Net Income 2014: -$14,1872014Revenue 2015: $270,487Expenses 2015: $174,870Net Income 2015: $95,6172015Revenue 2016: $245,190Expenses 2016: $183,061Net Income 2016: $62,1292016Revenue 2017: $218,578Expenses 2017: $171,280Net Income 2017: $47,2982017Revenue 2018: $246,105Expenses 2018: $218,767Net Income 2018: $27,3382018Revenue 2019: $283,354Expenses 2019: $217,640Net Income 2019: $65,7142019Revenue 2020: $263,424Expenses 2020: $224,779Net Income 2020: $38,6452020Revenue 2021: $154,338Expenses 2021: $143,428Net Income 2021: $10,9102021Revenue 2022: $263,725Expenses 2022: $84,849Net Income 2022: $178,8762022Revenue 2023: $282,800Expenses 2023: $149,381Net Income 2023: $133,4192023Revenue 2024: $275,390Expenses 2024: $161,773Net Income 2024: $113,6172024

Highlighted filing

2019

Revenue$283,354
Expenses$217,640
Net Income$65,714
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Jul 29, 2020
Return Version
2018v3.3
Gross Receipts
$283,354
Mission and Program Overview

Mission

The foundation sponsors and provides funds for educational conferences, publications, and other activities on issues of importance to investment companies, their current and prospective shareholders, and their advisers. The foundation also funds scholarships, grants, and awards programs to promote investment education, financial literacy and knowledge.

SEE ATTACHMENT 1

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,438,146$1,699,413▲ $261,267
Cash and Non-Interest-Bearing Accounts$368,622$33,154▼ $335,468
Land, Buildings, and Equipment, Net$0$5,700▲ $5,700
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$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
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$1,814,068$1,791,617▼ $22,451
Other Assets Total$7,300$53,350▲ $46,050
Liabilities
Deferred Revenue$111,075$53,350▼ $57,725
Accounts Payable and Accrued Expenses$75,609$3,500▼ $72,109
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$186,684$56,850▼ $129,834
Net Assets / Fund Balance
Unrestricted Net Assets$1,627,384$1,734,767▲ $107,383
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$1,627,384$1,734,767▲ $107,383
Total Liabilities and Net Assets / Fund Balance$1,814,068$1,791,617▼ $22,451

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,700$2,850$8,550
Other Land Buildings-$0-
Compensation and Service Providers
Top Officer Pay100th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Christina M KilroyVice-presidentPT$139,353$139,353

Board Members and Trustees

NameTitle
George Cw GatchChairman
Dawn M VroegopDirector
Paul Schott StevensDirector
William F TruscottDirector
Frances M StadlerFormer Secretary
Michael D McnameePesident
Linda M FrenchSecretary
Mark a DelcocoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$51,030
Program Service Revenue
$187,325
Investment Income
$44,999
Other Revenue
$0
All Other Contributions
$1,030
Change in Net Assets
$65,714

Audited Revenue Reconciliation

Revenue per Audited Statements
$283,354
Revenue Not Reported on Form 990
$41,669
Total Revenue per Audited Statements
$325,023
Total Revenue per Form 990
$283,354
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$123,500
Other Expenses$94,140
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$123,500--$123,500
Conferences and Meetings$86,951--$86,951
Depreciation Depletion-$2,850-$2,850
Other Expenses$474$2,491-$2,491
Office Expenses-$362-$362
Fees for Services Legal-$287-$287
Total Functional Expenses$211,650$5,990$0$217,640

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$217,640
Total Expenses per Audited Statements$217,640
Total Expenses per Form 990$217,640
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Junior Achievement of Greater WashingtonWashington, DC501(c)(3)Micro Grant$75,000
American Savings Education Council (asec)Washington, DC501(c)(3)Education Grant$25,000
Robert Toigo FoundationOakland, CA501(c)(3)Education Grant$20,000
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
Audit committee
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
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

PART VI, LINE 2:

“The following board members have a business relationship by serving together on the ici mutual board of directors: george c.w. Gatch and paul schott stevens.”

PART VI, LINE 11B:

“The management of investment company institute, a related organization of the foundation, and an external tax adviser, pricewaterhousecoopers, review the foundation's form 990 before it is filed. The audit committee of the investment company institute also reviews the foundation's form 990 before it is filed. A copy of the form 990 is provided to the foundation's board of directors via a password-protected web site before it is filed.”

PART VI, LINES 12A, 13, & 14:

“The foundation is governed by the policies of its parent, the investment company institute. These policies include a written conflict of interest policy, a written whistleblower policy, and a written document retention and destruction policy.”

PART VI, LINE 15:

“The foundation has no employees. The officers and directors of the foundation are subject to the policies of the foundation's parent, the investment company institute (ici). Compensation for these individuals is reviewed and approved annually by ici's compensation committee elected by ici's board of governors. Recommendations are also presented to, and approved by, the executive committee of the ici's board of governors. Ici may also periodically retain the services of an independent compensation consultant to address executive compensation.”

PART VI, LINE 19:

“The foundation's governing documents and financial statements are not made available to the public.”

Filing and Contact Details

Filer

Filer Name
Ici Education Foundation
EIN
52-1659777
In Care Of
% MARK DELCOCO
Phone
2023265800
Address
1401 H STREET NW, WASHINGTON, DC 20005

Signing Officer

Name
Mark Delcoco
Title
Treasurer
Phone
2023265800
Signed
2020-07-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael D Mcnamee
Formed
1989
Legal Domicile
De
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
PricewaterhouseCoopers LLP
Address
600 13TH ST NW, WASHINGTON, DC 20005
Preparer
Travis Patton
Phone
2024141000
Supplemental Narrative

Additional Explanations

PART XII, LINE 2C:

“The foundation's financial statements are reviewed by the audit committee of the investment company institute's board of governors.”

Financial Statement Notes

FIN 48 FOOTNOTE TO FINANCIAL STATEMENTS:

“The company reviews all uncertain tax positions to determine whether a tax position is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. For tax positions meeting the more likely than not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than fifty percent likelihood or being realized upon ultimate settlement with the relevant taxing authority. The company has evaluated its tax positions and determined that no liability exists as of september 30, 2019.”

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IRS990/LoanOutstandingInd0false
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE FOUNDATION SPONSORS AND PROVIDES FUNDS FOR EDUCATIONAL CONFERENCES, PUBLICATIONS, AND OTHER ACTIVITIES ON ISSUES OF IMPORTANCE TO INVESTMENT COMPANIES, THEIR CURRENT AND PROSPECTIVE SHAREHOLDERS, AND THEIR ADVISERS. THE FOUNDATION ALSO FUNDS SCHOLARSHIPS, GRANTS, AND AWARDS PROGRAMS TO PROMOTE INVESTMENT EDUCATION, FINANCIAL LITERACY AND KNOWLEDGE.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt00
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt00
IRS990/NetAssetsOrFundBalancesBOYAmt01627384
IRS990/NetAssetsOrFundBalancesEOYAmt01734767
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0319
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0319
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt041669
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0362
IRS990/OfficeExpensesGrp/TotalAmt0362
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt07300
IRS990/OtherAssetsTotalGrp/EOYAmt053350
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0JR.ACHIEVEMENT PARK
IRS990/OtherExpensesGrp/Desc1ROBERT TOIGO FOUNDATION
IRS990/OtherExpensesGrp/Desc2ALL OTHER EXPENSES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02491
IRS990/OtherExpensesGrp/ProgramServicesAmt0725
IRS990/OtherExpensesGrp/ProgramServicesAmt1474
IRS990/OtherExpensesGrp/TotalAmt0725
IRS990/OtherExpensesGrp/TotalAmt1474
IRS990/OtherExpensesGrp/TotalAmt22491
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt00
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0MICHAEL D MCNAMEE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0CONFERENCES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0187325
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0187325
IRS990/ProgSrvcAccomActy2Grp/Desc0MICRO GRANTS PROGRAM TO ENCOURAGE INNOVATION IN INVESTOR EDUCATION WITHIN THE GREATER WASHINGTON, DC AREA.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt075000
IRS990/ProgSrvcAccomActy2Grp/GrantAmt075000
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProgSrvcAccomActy3Grp/Desc0EDUCATION - GRANTS WERE MADE TO THE AMERICAN SAVINGS EDUCATION COUNCIL (ASEC), ALLIANCE FOR INVESTOR EDUCATION, ROBERT TOIGO FOUNDATION, AND JUMP START COALITION. THE FOUNDATION ALSO SUPPORTS JUNIOR ACHIEVEMENT FINANCE PARK.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt049699
IRS990/ProgSrvcAccomActy3Grp/GrantAmt048500
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt050000
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0105500
IRS990/PYInvestmentIncomeAmt030780
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0113267
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0165325
IRS990/PYRevenuesLessExpensesAmt027338
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0218767
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0246105
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt065714
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt050000
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0187325
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgQualifiedInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtExclusivelySec170c2BInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0ON AN ANNUAL BASIS THE FOUNDATION REVIEWS THE TAX STATUS OF THE SUPPORTED ORGANIZATION (ICI) TO ENSURE THE 509(A)(2) TEST IS MET. THIS TEST REQUIRES THAT THE ORGANIZATION RECEIVE MORE THAN ONE-THIRD OF ITS SUPPORT FROM CONTRIBUTION FROM THE GENERAL PUBLIC AND CAN RECEIVE NO MORE THAN ONE-THIRD OF ITS SUPPORT FROM GROSS INVESTMENT INCOME AND UNRELATED BUSINESS TAXABLE INCOME. BOTH OF THESE TEST ARE FULLY MET.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE FOUNDATION DOES NOT PROVIDE ICI, A SECTION 501(C)(6) ENTITY, WITH MONETARY SUPPORT.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2THE FOUNDATION SPONSORS AND PROVIDES FUNDS FOR EDUCATIONAL CONFERENCES, PUBLICATIONS, AND OTHER ACTIVITIES ON ISSUES OF IMPORTANCE TO INVESTMENT COMPANIES, THEIR CURRENT AND PROSPECTIVE SHAREHOLDERS, AND THEIR ADVISERS. THE FOUNDATION WORKS CLOSELY WITH ICI TO IDENTIFY THE PROGRAMS AND STRATEGIC AREAS TO BE SUPPORTED AND WHICH ORGANIZATIONS ARE TO RECEIVE GRANTS. THE FOUNDATION ENSURES THAT IT MAKES ALL ITS GRANTS TO PROMOTE INVESTMENT EDUCATION, FINANCIAL LITERACY AND KNOWLEDGE.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A, LINE 3B
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION A, LINE 3C
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2SCHEDULE A, PART IV, SECTION A, LINE 6
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0135266605
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd09
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0INVESTMENT COMPANY INSTITUTE
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt05700
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02850
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt08550
IRS990ScheduleD/ExpensesSubtotalAmt0217640
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt041669
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/RevenueNotReportedAmt041669
IRS990ScheduleD/RevenueSubtotalAmt0283354
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPANY REVIEWS ALL UNCERTAIN TAX POSITIONS TO DETERMINE WHETHER A TAX POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTION OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS OF THE POSITION. FOR TAX POSITIONS MEETING THE MORE LIKELY THAN NOT THRESHOLD, THE TAX AMOUNT RECOGNIZED IN THE FINANCIAL STATEMENTS IS REDUCED BY THE LARGEST BENEFIT THAT HAS A GREATER THAN FIFTY PERCENT LIKELIHOOD OR BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE RELEVANT TAXING AUTHORITY. THE COMPANY HAS EVALUATED ITS TAX POSITIONS AND DETERMINED THAT NO LIABILITY EXISTS AS OF SEPTEMBER 30, 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FIN 48 FOOTNOTE TO FINANCIAL STATEMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05700
IRS990ScheduleD/TotalExpensesPerForm990Amt0217640
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt0283354
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0325023
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0217640
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt025000
IRS990ScheduleI/RecipientTable/CashGrantAmt175000
IRS990ScheduleI/RecipientTable/CashGrantAmt220000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0NONE
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc1NONE

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,791,617
Liabilities
$56,850
Net assets
$1,734,767
Revenue
$283,354
Expenses
$217,640
Net income
$65,714
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.09$0.00$2.09$0.28$0.16$0.11
2023Detailed filing. Detailed filing data is available for this year.$1.91$0.00$1.91$0.28$0.15$0.13
2022Detailed filing. Detailed filing data is available for this year.$1.80$0.00$1.80$0.26$0.08$0.18
2021Detailed filing. Detailed filing data is available for this year.$1.82$0.04$1.78$0.15$0.14$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.88$0.07$1.81$0.26$0.22$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.79$0.06$1.73$0.28$0.22$0.07
2018Detailed filing. Detailed filing data is available for this year.$1.81$0.19$1.63$0.25$0.22$0.03
2017Detailed filing. Detailed filing data is available for this year.$1.71$0.08$1.63$0.22$0.17$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.64$0.05$1.59$0.25$0.18$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.58$0.04$1.54$0.27$0.17$0.10
2014Detailed filing. Detailed filing data is available for this year.$1.52$0.06$1.46$0.07$0.09$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.51$0.05$1.46$0.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$0.02$1.41$0.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.38$0.04$1.34$0.18
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.34$0.02$1.32$0.17