Illinois Hotel & Lodging Educational Foundation

Nonprofit profile at a glance

EIN
363809567
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
Chicago, IL, USA
Phone
3123463135
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$159,034
Expenses
$85,589
Assets
$493,947
Liabilities
$55,989

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

Leadership & pay

14 people listed

Executive titles in this filing

  • MICHAEL JACOBSON (PRESIDENT & CEO/DIRECTOR)

Highest reported compensation

  • MICHAEL JACOBSON (PRESIDENT & CEO/DIRECTOR): $358,605 total reported compensation

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

Overview

Mission

Illinois hotel & lodging association educational foundation (ihlaef) is dedicated to mentoring future hotel employees and providing continuing education for current hospitality industry employees.

What it reported doing in 2024

The Illinois hotel & lodging association educational foundation (ihlaef) is the not-for-profit, 501(c)(3) educational arm of the Illinois hotel & lodging association (ihla). The foundation focuses on three major initiatives: scholarships, educational programming, and high school to career curriculum and workforce development.

Operating model

Revenue model
Donor-supported. 93% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 76% for direct work, and 24% for grants.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 78
  • Accountability: 63
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.4%; rating input score 59
  • Program expense ratio: 97%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 95.1%; rating input score 95; 55th 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; 63rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 46.2%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 5.77; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 9.1% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 5% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 59.4% of revenue deployed · 97% of spending went to programs
  • Governance: 17 of 17 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $83K in reported program spending
  • Leadership: top reported pay $359K · 14 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • 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 59/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.