IAA Foundation

Nonprofit profile at a glance

EIN
371211315
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Bloomington, IL, USA
Phone
3095572218
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,301,643
Expenses
$980,510
Assets
$9,912,741
Liabilities
$69,831

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • Brian Duncan (President)
  • Evan Hultine (Vice President)

Highest reported compensation

  • Jennifer Vance (Ass't Secretary): $1,347,499 total reported compensation
  • Alan Dodds (Ass't Treasurer): $759,699 total reported compensation
  • Brian Duncan (President): $329,383 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To fund education, research, and charitable activities that benefit Illinois farm families and agriculture.

What it reported doing in 2024

The organization provides scholarships to students attending a college, university or vocational school and who are seeking education in an agricultural related field.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 71
  • Accountability: 28
  • Sustainability: 73
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.7%; rating input score 78
  • Program expense ratio: 94.5%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.6%; rating input score 100; 50th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 24.7%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 10.11; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 65.7%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -6.2% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -2.4% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 9.1% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 77.7% of revenue deployed · 94.5% of spending went to programs
  • Governance: 0 of 6 board members independent · 6 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $927K in reported program spending
  • Leadership: top reported pay $1.3M · 12 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 69 filed money-flow records
  • Related organizations: 81 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.