Iba Foundation Inc

Nonprofit profile at a glance

EIN
351855863
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Indianapolis, IN, USA
Phone
3173879380
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Reported finances

Revenue
$3,822,500
Expenses
$3,064,651
Assets
$14,970,796
Liabilities
$2,205,085

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

Leadership & pay

5 people listed

Executive titles in this filing

  • BENJAMIN J BOCHNOWSKI (PRESIDENT)
  • MATTHEW W HOWREY (FIRST VICE PRESIDENT)
  • AMBER R VAN TIL (ASSISTANT TREASURER & CEO)

Highest reported compensation

  • AMBER R VAN TIL (ASSISTANT TREASURER & CEO): $508,992 total reported compensation
  • RODNEY E LASLEY (SECRETARY): $224,233 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 provide education programs to members of the banking industry, those aspiring to develop their capabilities in the business of banking, and instructing the public regarding banking.

What it reported doing in 2024

Convention, conferences and seminars and related expenses provide education and information to those seeking information and instruction on subjects relative to banks including but not limited to members of the Indiana bankers association.

Operating model

Revenue model
Earned-program. 83% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some related-organization disclosures are missing.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 65
  • Accountability: 72
  • Sustainability: 75
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98%; rating input score 98
  • 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 60%; rating input score 60; 9th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 19.8%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 4.88; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 2.5%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: 13.2% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98% of spending went to programs
  • Governance: 3 of 5 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3M in reported program spending
  • Leadership: top reported pay $509K · 5 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $397K reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 7 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.