International Society of Transport Aircraft Trading Foundation

Nonprofit profile at a glance

EIN
541742507
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3123215169
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$1,421,044
Expenses
$1,244,673
Assets
$7,660,073
Liabilities
$61,268

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

Leadership & pay

19 people listed

Executive titles in this filing

  • MARY PRETTYMAN (ISTAT PRESIDENT)
  • DEAN GERBER (ISTAT PAST PRESIDENT)
  • GUILHERME LOPES (EXECUTIVE DIRECTOR)

People named in this filing

  • SIGTHOR EINARSSON (CHAIR)
  • JOEY JOHNSEN (SECRETARY)
  • GERRY LADERMAN (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Support individuals and institutions that promote the advancement of commerical aviation and humanitarianism.

What it reported doing in 2024

The foundation supports five programs that foster interest in, create opportunities for, and provide assistance to the global aviation community. These programs include providing scholarships to academically-qualified students pursuing an aviation-related degree at an accredited university; internship opportunities for students seeking careers in aviation; grants to educational institutions, museums and other nonprofit organizations that need funding to stimulate commercial aviation interest at various academic levels; humanitarian aid efforts, wherein commercial aviation plays a role; and students the opportunity to participate in an istat university certificate program focusing on aviation finance.

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 77% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.3%; rating input score 75
  • Program expense ratio: 79.7%; rating input score 80
  • Fundraising efficiency: $56.01 raised per $1 spent on fundraising; rating input score 79; 79th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 4 of 8 controls in place; rating input score 50
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Limited
    • Conducts field audits: Pass
    • May suspend future funding: Limited
    • Requires financial reports: Pass
    • Conducts site visits: Limited
    • Requires grant agreements: Pass
    • May require repayment: Limited
  • Grant itemization coverage: 99.2%; rating input score 99; 48th 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12.4%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 6.15; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 7.2% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 5.8% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 75.3% of revenue deployed · 79.7% of spending went to programs
  • Governance: 18 of 18 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $992K in reported program spending
  • Leadership: top reported pay $0 · 19 people listed
  • Highest-paid contractors: 1 contractor listed · $400K reported
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 13 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 — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.