Investment Adviser Association

Nonprofit profile at a glance

EIN
136130873
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2022934222
Rating confidence
Limited

Official website

Reported finances

Revenue
$7,207,863
Expenses
$7,475,793
Assets
$10,048,217
Liabilities
$7,121,645

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

Leadership & pay

30 people listed

Executive titles in this filing

  • Karen L Barr (President & CEO)

Highest reported compensation

  • Karen L Barr (President & CEO): $601,439 total reported compensation
  • Gail C Bernstein (Secretary & General Counsel): $506,757 total reported compensation
  • Laura Grossman (Associate General Counsel): $345,688 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 be the leading industry organization: A. Promoting high standards of fiduciary duty, integrity, public responsibility, and competence in the investment advisory profession. B. Providing effective, quality representation of the investment advisory profession with respect to the development, formulation, and enactment of legislation, regulations, and other policies relating to investment advisers. C. Offering benefits, services, and resources that assist and add value for member firms.

What it reported doing in 2024

Advocacy - IAA works closely with policy makers on every issue that directly affects investment advisers, and represents the interests of investment advisers on Capitol Hill, working with members of Congress and their staffs to educate them about relevant issues and concerns. The IAA regularly comments on rule changes proposed by the SEC, Department of Labor, other Federal and State agencies, and international regulators that directly affect the investment adviser industry and the IAA membership.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 88
  • Accountability: 100
  • Sustainability: 27
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 5th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.7%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 1.34; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.71; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 36.3%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.2% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 7.3% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 23 of 23 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $601K · 30 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $244K reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 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 — Sustainability: Operating margin scored 23/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.