Civic Intelligence

Institute for Study Abroad Inc.

990 • Fiscal year 2016 • EIN 62-1355896

Jul 01, 2015 to Jun 30, 2016 • Filed on Apr 28, 2017

6201 Corporate Drive Suite 200Indianapolis, IN 46278

(317) 940-9336

Siviq Scores

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

Liabilities / Assets

67th percentile

0.46x

Higher debt load relative to assets than 67% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

38th percentile

0.21x

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

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

60th percentile

5.1%

Higher net margin than 60% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

41st percentile

$212,604

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

23rd percentile

-3.0%

Faster asset growth than 23% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

43rd percentile

0.6%

Faster revenue growth than 43% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Assets

Down

$21,803,724

Down $672,516 (-3.0%) from 2015

Net Assets

Up

$11,800,077

Up $3,116,606 (+36%) from 2015

Liabilities

Down

$10,003,647

Down $3,789,122 (-27%) from 2015

Revenue

Up

$46,871,769

Up $279,010 (+0.6%) from 2015

Expenses

Down

$44,463,474

Down $2,189,067 (-4.7%) from 2015

Net Income

Up

$2,408,295

Up $2,468,077 (+4128%) from 2015

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $17,432,894Liabilities 2010: $13,036,999Net Assets 2010: $4,395,8952010Assets 2011: $21,439,195Liabilities 2011: $13,145,807Net Assets 2011: $8,293,3882011Assets 2012: $19,747,111Liabilities 2012: $11,800,444Net Assets 2012: $7,946,6672012Assets 2013: $20,884,175Liabilities 2013: $13,831,791Net Assets 2013: $7,052,3842013Assets 2014: $22,938,864Liabilities 2014: $11,626,673Net Assets 2014: $11,312,1912014Assets 2015: $22,476,240Liabilities 2015: $13,792,769Net Assets 2015: $8,683,4712015Assets 2016: $21,803,724Liabilities 2016: $10,003,647Net Assets 2016: $11,800,0772016Assets 2017: $25,339,963Liabilities 2017: $9,378,333Net Assets 2017: $15,961,6302017Assets 2018: $23,566,967Liabilities 2018: $7,279,484Net Assets 2018: $16,287,4832018Assets 2019: $22,705,735Liabilities 2019: $6,139,145Net Assets 2019: $16,566,5902019Assets 2020: $19,569,076Liabilities 2020: $2,834,030Net Assets 2020: $16,735,0462020Assets 2021: $14,665,422Liabilities 2021: $2,982,187Net Assets 2021: $11,683,2352021Assets 2022: $13,951,324Liabilities 2022: $6,773,776Net Assets 2022: $7,177,5482022Assets 2023: $20,227,790Liabilities 2023: $10,660,155Net Assets 2023: $9,567,6352023

Highlighted filing

2016

Assets$21,803,724
Liabilities$10,003,647
Net Assets$11,800,077

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $44,913,2112010Expenses 2011: $39,238,9902011Expenses 2012: $43,614,3022012Expenses 2013: $43,401,8762013Revenue 2014: $48,292,797Expenses 2014: $46,722,814Net Income 2014: $1,569,9832014Revenue 2015: $46,592,759Expenses 2015: $46,652,541Net Income 2015: -$59,7822015Revenue 2016: $46,871,769Expenses 2016: $44,463,474Net Income 2016: $2,408,2952016Revenue 2017: $45,303,466Expenses 2017: $41,524,298Net Income 2017: $3,779,1682017Revenue 2018: $40,760,770Expenses 2018: $40,077,740Net Income 2018: $683,0302018Revenue 2019: $43,727,192Expenses 2019: $42,791,902Net Income 2019: $935,2902019Revenue 2020: $40,084,059Expenses 2020: $39,568,818Net Income 2020: $515,2412020Revenue 2021: $2,694,073Expenses 2021: $8,108,223Net Income 2021: -$5,414,1502021Revenue 2022: $21,026,322Expenses 2022: $22,896,695Net Income 2022: -$1,870,3732022Revenue 2023: $33,776,906Expenses 2023: $31,911,256Net Income 2023: $1,865,6502023

Highlighted filing

2016

Revenue$46,871,769
Expenses$44,463,474
Net Income$2,408,295
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Apr 28, 2017
Return Version
2015v3.0
Gross Receipts
$46,871,769
Mission and Program Overview

Mission

Ifsa - butler creates global learning environments designed to foster the development of critical perspectives, knowledge and skills essential for students to thrive in the future.

Provide college level education to u.s. Students studying abroad in various countries.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$10,977,957$9,021,154▼ $1,956,803
Investments in Publicly Traded Securities$8,397,849$8,979,958▲ $582,109
Land, Buildings, and Equipment, Net$43,055$1,974,531▲ $1,931,476
Accounts Receivable$853,632$753,830▼ $99,802
Intangible Assets$537,523$537,523→ $0
Prepaid Expenses and Deferred Charges$1,556,712$420,908▼ $1,135,804
Investments Other Securities$109,512$115,820▲ $6,308
Savings and Temporary Cash Investments$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 Program Related$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$22,476,240$21,803,724▼ $672,516
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$9,766,490$5,915,188▼ $3,851,302
Other Liabilities$2,101,069$1,863,256▼ $237,813
Accounts Payable and Accrued Expenses$1,925,210$1,390,398▼ $534,812
Unsecured Notes Loans Payable$0$834,805▲ $834,805
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$13,792,769$10,003,647▼ $3,789,122
Net Assets / Fund Balance
Unrestricted Net Assets$8,683,471$11,800,077▲ $3,116,606
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$8,683,471$11,800,077▲ $3,116,606
Total Liabilities and Net Assets / Fund Balance$22,476,240$21,803,724▼ $672,516

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,571,408$16,326$1,587,734
Other Land Buildings$158,123$242,761$400,884
Land$245,000-$245,000
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Heather Barclay HamirPresidentFT$191,485$21,119$212,604
Joanna Holvey BowlesExec. VP and COOFT$172,133$21,520$193,653
Warren WiseCFOFT$157,907$14,865$172,772
Mark ScheidPresident and CEOFT$139,931$20,131$160,062
Steven SeaworthVP for University RelationsFT$127,112$21,055$148,167
Thomas RobertsDirector-$16,186-$16,186
David GrayDirector-$12,646-$12,646
Don MeyerChairman and DIRECTOR-$4,250-$4,250
Jan KielingSecretary and Director-$4,250-$4,250
Adrian BeaulieuDirector-$3,250-$3,250
David TaylorDirector-$3,250-$3,250
Gary ButkusDirector-$3,250-$3,250
George LauckDirector-$3,250-$3,250
Kris LichterDirector-$3,250-$3,250
Scott ManningDirector-$3,250-$3,250
Sy NagorskyDirector-$3,250-$3,250
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$46,546,325
Investment Income
$209,153
Other Revenue
$116,291
Change in Net Assets
$2,408,295

Audited Revenue Reconciliation

Revenue per Audited Statements
$46,662,616
Revenue Not Reported on Financial Statements
$209,153
Other Revenue Adjustments
$209,153
Total Revenue per Audited Statements
$46,662,616
Total Revenue per Form 990
$46,871,769
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$35,338,153
Salaries, Compensation, and Employee Benefits$8,483,910
Grants and Similar Amounts Paid$641,411
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,659,433$3,055,803-$5,715,236
Occupancy$757,965$499,850-$1,257,815
Other Employee Benefits$159,758$958,613-$1,118,371
Travel$467,000$467,000-$934,000
All Other Expenses-$926,542-$926,542
Current Officers, Directors, Trustees, and Key Employees-$865,718-$865,718
Grants to Domestic Orgs$456,834--$456,834
Payroll Taxes$170,760$277,817-$448,577
Fees for Services Other-$380,321-$380,321
Pension Plan Contributions$73,309$262,699-$336,008
Advertising-$226,472-$226,472
Grants to Domestic Individuals$184,577--$184,577
Information Technology-$178,280-$178,280
Fees for Services Accounting-$171,589-$171,589
Insurance-$170,893-$170,893
Fees for Services Legal-$149,792-$149,792
Conferences and Meetings-$76,084-$76,084
Other Expenses$3,661,559$26,417-$26,417
Total Functional Expenses$35,519,584$8,943,890$0$44,463,474

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$44,463,474
Expenses per Audited Statements$43,822,063
Total Expenses per Audited Statements$43,822,063
Expenses Not Reported on Financial Statements$641,411
Other Expense Adjustments$641,411
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Vanderbilt UniversityNashville, TN501(c)(3)Educational$48,500
Colgate UniversityHamilton, NY501(c)(3)Educational$42,000
Franklin & Marshall CollegeLancaster, PA501(c)(3)Educational$39,000
Emory UniversityAtlanta, GA501(c)(3)Educational$36,000
Connecticut CollegeNew London, CT501(c)(3)Educational$33,300
Saint Joseph's University of PennsylvaniaPhiladelphia, PA501(c)(3)Educational$28,000
Wake Forest UniversityWinstonSalem, NC501(c)(3)Educational$26,500
University of RedlandsRedlands, CA501(c)(3)Educational$24,000
Butler UniversityIndianapolis, IN501(c)(3)Educational$15,900
Brandeis UniversityWaltham, MA501(c)(3)Educational$15,700
Tulane UniversityNew Orleans, LA501(c)(3)Educational$14,000
University of Wisconsin at MadisonMadison, WI501(c)(3)Educational$12,350
Arizona State UniversityGlendale, AZ501(c)(3)Educational$10,200
Trinity College of ConnecticutHartford, CT501(c)(3)Educational$9,600
University of DenverDenver, CO501(c)(3)Educational$9,134
Ursinus CollegeCollegeville, PA501(c)(3)Educational$8,000
American UniversityWashington, DC501(c)(3)Educational$6,000
Susquehanna UniversitySelinsgrove, PA501(c)(3)Educational$6,000

International Summary

Offices
20
Employees
97
Spending
$35,555,257

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)Program ServicesStudent Support316$19,840,814
East Asia and the PacificProgram ServicesStudent Support423$9,880,197
South AmericaProgram ServicesStudent Support534$4,077,970
Central America and the CaribbeanProgram ServicesStudent Support24$652,562
South AsiaProgram ServicesStudent Support315$460,210
Middle East and North AfricaProgram ServicesStudent Support22$396,062
North AmericaProgram ServicesStudent Support13$247,442
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Tom RobertsDavid GrayDirectorPayroll ServicesNo$384,485
George LauckPartnerInsurance ServicesNo$156,975
Don MeyerPartnerLegal ServicesNo$44,974

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
Fair Value of Forward Currency$1,221,188
Deferred Compensation$642,068
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
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A:

The Board of Directors of the Institute for Study Abroad is composed of nine elected directors, two appointed members, and one non-voting member (the President). Elected directors and appointed directors vote on most matters. However, appointed directors are limited in their voting powers as described in the organization's by-laws.

Form 990, Part VI, Section A, Line 2:

Tom Roberts/David Gray - Business Relationship

Form 990, Part VI, Section A, Line 8B:

Minutes of the investment committee are not kept, but the committees report to the board of directors.

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

Minutes of the Executive Committee are kept.

Form 990, Part VI, Section B, Line 15:

The compensation of the president is determined by the board of directors. The president determined all other salaries taking market rates and budget constraints into consideration.

Form 990, Part VI, Section C, Line 19:

The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Institute for Study Abroad Inc
EIN
62-1355896
In Care Of
% REGINA OWENS
Phone
3179409336
Address
6201 Corporate Drive Suite 200, Indianapolis, IN 46278

Signing Officer

Name
Heather Barclay Hamir
Title
President/CEO
Signed
2017-04-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Heather Barclay Hamir
Formed
1988
Legal Domicile
In
Voting Board Members
11
Independent Board Members
9
Employees
102
Volunteers
0

Preparer

Firm
Baker Tilly Virchow Krause LLP
Address
205 N Michigan Ave 28th Floor, Chicago, IL 60601-5927
Preparer
Mark Heroux
Phone
3127298000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9:

Change in fair value of hedging acvitivies $(345,446) Increase in net assets from foreign currency translation adj $(323,081)

Form 990, Part XII, Line 2C:

The board of directors retains oversight of the audit and selection of an independent accountant.

Financial Statement Notes

Schedule D, Part XI, Line 4B:

Amount of interest and dividend income for the year ended June 30, 2016 $209,153

Schedule D, Part XII, Line 4B:

Scholarships paid and reported as a reduction to gross revenue $641,411.

Schedule D, Part X, Line 2:

The Institute follows the accounting standards for contingencies in evaluating uncertain tax positions. The guidance prescribes recognition threshold principles for the financial statement recognition of tax positions taken or expected to be taken on a tax return that are not certain to be realized. No liability has been recognized by the Institute for uncertain tax positions as of June 30, 2016 and 2015. The Institute's tax returns are subject to review and examination by federal and state authorities.

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IRS990/Form990PartVIISectionAGrp/PersonNm6Adrian Beaulieu
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IRS990/Form990PartVIISectionAGrp/PersonNm11Mark Scheid
IRS990/Form990PartVIISectionAGrp/PersonNm12Joanna Holvey Bowles
IRS990/Form990PartVIISectionAGrp/PersonNm13Steven Seaworth
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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7Secretary and Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11President and CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt12Exec. VP and COO
IRS990/Form990PartVIISectionAGrp/TitleTxt13VP for University Relations
IRS990/Form990PartVIISectionAGrp/TitleTxt14PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt15CFO
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IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/OccupancyGrp/ProgramServicesAmt0757965
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IRS990/OtherExpensesGrp/Desc1STUDENT SERVICES
IRS990/OtherExpensesGrp/Desc2ADMINISTRATIVE FEE
IRS990/OtherExpensesGrp/Desc3PRINTING AND PUBLICATIONS
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt126417
IRS990/OtherExpensesGrp/ProgramServicesAmt026928389
IRS990/OtherExpensesGrp/ProgramServicesAmt13661559
IRS990/OtherExpensesGrp/TotalAmt026928389
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IRS990/OtherExpensesGrp/TotalAmt2250000
IRS990/OtherExpensesGrp/TotalAmt326417
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IRS990/OtherLiabilitiesGrp/EOYAmt01863256
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IRS990/ProgramServiceRevenueGrp/Desc0TUITION AND FEES
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IRS990/ReportOtherAssetsInd0false
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IRS990/RoyaltiesGrp/TotalAmt00
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.
2023Summary only. Only limited summary data is available for this year.$20.2$10.7$9.57$33.8$31.9$1.87
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.0$6.77$7.18$21.0$22.9$1.87
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.7$2.98$11.7$2.69$8.11$5.41
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.6$2.83$16.7$40.1$39.6$0.52
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.7$6.14$16.6$43.7$42.8$0.94
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.6$7.28$16.3$40.8$40.1$0.68
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.3$9.38$16.0$45.3$41.5$3.78
2016Detailed filing. Detailed filing data is available for this year.$21.8$10.0$11.8$46.9$44.5$2.41
2015Detailed filing. Detailed filing data is available for this year.$22.5$13.8$8.68$46.6$46.7$0.06
2014Summary only. Only limited summary data is available for this year.$22.9$11.6$11.3$48.3$46.7$1.57
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.9$13.8$7.05$43.4
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.7$11.8$7.95$43.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.4$13.1$8.29$39.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.4$13.0$4.40$44.9