Investment Company Institute
Nonprofit profile at a glance
- EIN
- 135266605
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Washington, DC, USA
- Phone
- 2023265800
- Rating confidence
- Limited
Reported finances
- Revenue
- $85,551,495
- Expenses
- $83,667,741
- Assets
- $150,425,314
- Liabilities
- $83,869,324
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
76 people listed
Executive titles in this filing
- ERIC J PAN (PRESIDENT & CEO)
Highest reported compensation
- ERIC J PAN (PRESIDENT & CEO): $2,849,370 total reported compensation
- DONALD C AUERBACH (CHIEF OPERATING OFFICER): $1,039,018 total reported compensation
- JOHN G EMLING (CHIEF GOVT. AFFAIRS OFFICER): $898,309 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 advance the interests of investment funds, their shareholders, and the asset management industry through advocacy, research, and education.
What it reported doing in 2024
Public policy issues - ici advances the interests of investment companies, their shareholders, directors, and investment advisers by supporting effective legislation and regulation. To secure public policy objectives, ici represents the fund industry and its shareholders before congress, the securities and exchange commission, and other regulatory agencies, as well as state and foreign regulators.
Operating model
- Revenue model
- Membership-supported. 85% of the money available for current operations came from membership dues.
- 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: 54
- Accountability: 100
- Sustainability: 42
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 8th percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: Scored; rating input score 0
- Major donor itemization: Limited
- Related-party transparency: No; rating input score 0
Accountability
- Independent voting board: 100%; rating input score 100; 77th 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: 2.2%; rating input score 44; 44th percentile among comparable filings
- Total-asset coverage ratio: 1.8; rating input score 59; 59th percentile among comparable filings
- Liabilities to assets ratio: 0.56; rating input score 31; 31st percentile among comparable filings
- Officer compensation ratio: 13.9%; rating input score 1; 1st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 2.5% per year; rating input score 100; 18th percentile among comparable filings
- Asset growth: 7.5% per year; rating input score 100; 55th percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 56 of 56 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $2.8M · 76 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $3.8M reported
- Consistency: 13 of 14 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes foreign activity, executive pay, and related organizations
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 13 filed money-flow records
- Related organizations: 2 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.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Transparency & Controls: Grant itemization coverage scored 0/100.
- Moderate — Sustainability: Operating margin scored 44/100.
- High — Transparency & Controls: Related-party transparency scored 0/100.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- Review — Sustainability: Total-asset coverage ratio scored 59/100.
- High — Sustainability: Officer compensation ratio scored 1/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 31/100.