Ieee Foundation Inc

Nonprofit profile at a glance

EIN
237310664
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Piscataway, NJ, USA
Phone
7329810060
Rating
74
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$11,245,366
Expenses
$6,538,091
Assets
$84,710,583
Liabilities
$2,618,530

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

Leadership & pay

18 people listed

Executive titles in this filing

  • Jerry L Hudgins (Vice President, Programs)
  • John D McDonald (Vice President, Development)
  • Ralph Ford (President)

Highest reported compensation

  • THOMAS R SIEGERT (ASSISTANT TREASURER): $645,710 total reported compensation
  • ANTHONY PATANE (ASSISTANT TREASURER): $346,741 total reported compensation
  • KAREN A GALUCHIE (ASST SECRETARY & EXEC DIRE): $316,418 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 expand the IEEE charitable body of work by inspiring philanthropic engagement that ignites a donor's innermost interests and values.

What it reported doing in 2024

EDUCATE: Educating the next generation of innovators and engineers by nourishing students through academic opportunities: scholarships, fellowships, travel grants, mentoring, and introducing pre-university students to STEM and the history of technology with classroom curriculum, hands-on experiences, and interactive workshops. Programs include the IEEE PES Scholarship PLUS Initiative, IEEE REACH, TryEngineering, and Science Kits for Public Libraries.

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 88% 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 total spending goes to programs and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 62
  • Accountability: 95
  • Sustainability: 89
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.4%; rating input score 58
  • Program expense ratio: 80.8%; rating input score 81
  • Fundraising efficiency: $75.88 raised per $1 spent on fundraising; rating input score 82; 82nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 17th 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: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 98.1%; rating input score 98; 29th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 41.9%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 12.96; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 87; 87th percentile among comparable filings
  • Officer compensation ratio: 2.7%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 5.3% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 6.5% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 58.4% of revenue deployed · 80.8% of spending went to programs
  • Governance: 15 of 15 board members independent · 7 of 8 filing controls reported
  • Programs: 5 filed program accomplishments · $5.3M in reported program spending
  • Leadership: top reported pay $646K · 18 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 31 of 33 current checks pass · 2 findings to review
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 21 filed money-flow records
  • Related organizations: 22 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.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.