Illinois Public Pension Fund Association

Nonprofit profile at a glance

EIN
363421158
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Elgin, IL, USA
Phone
6307840406
Rating
54
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,334,151
Expenses
$1,221,830
Assets
$2,669,193
Liabilities
$318,112

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

Leadership & pay

14 people listed

Executive titles in this filing

  • JIM MCNAMEE (PRESIDENT)
  • DAN HOPKINS (1ST VICE PRESIDENT)
  • SHAWN CURRY (2ND VICE PRESIDENT)
  • MARK POULOS (3RD VICE PRESIDENT)
  • JIM MALONEY (4TH VICE PRESIDENT)

Highest reported compensation

  • JIM MCNAMEE (PRESIDENT): $200,843 total reported compensation
  • BILL GALGAN (TREASURER): $23,000 total reported compensation
  • SHAWN CURRY (2ND VICE PRESIDENT): $18,000 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 educate, protect, prepare, train and assist our public pension fund trustees and members for today, tomorrow and the future, as well as monitoring, proposing and supporting legislation that is beneficial to Illinois pension funds.

What it reported doing in 2024

Educate and train public pension trustees, provide information regarding legislation and regulation and general assistance and support to public pension boards throughout the state. Ippfa has a 32 hour certified public pension trustee school and a 16 hour advanced trusteeschool administered in conjuction with northern Illinois university. Pension trustee training courses are held throughout the state of Illinois.

Operating model

Revenue model
Earned-program. 86% 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

MIXED - 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: 66
  • Transparency & Controls: 60
  • Accountability: 28
  • Sustainability: 53
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.6%; rating input score 68
  • Program expense ratio: 85.5%; rating input score 85
  • 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: Limited
  • 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: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.4%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 2.18; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 26%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: -3.4% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -3.3% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 67.6% of revenue deployed · 85.5% of spending went to programs
  • Governance: 0 of 14 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $201K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 14 filed money-flow records
  • 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: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 58/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.