Io Research Inc

Nonprofit profile at a glance

EIN
923203957
IRS 990 coverage
2023–2025
Forms available
Form 990 2025
Location
Zionsville, IN, USA
Phone
3123150927
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Research Institutes and/or Public Policy Analysis

Reported finances

Revenue
$235,841
Expenses
$180,043
Assets
$166,466
Liabilities
$88

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Betty Farrell (President)
  • William Ivey (Vice President)

People named in this filing

  • Betty Farrell (President)
  • William Ivey (Vice President)
  • Antonio Cuyler (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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

I/O is a nonprofit that conducts independent and original research in cultural policy. We offer objective and unbiased analyses of policy issues in arts and culture that provide insight to decision-makers in organization and government.

What it reported doing in 2025

Provided research services for various arts and cultural organizations.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76%; rating input score 76
  • Program expense ratio: 99.6%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 23.7%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 0.92; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 49.3% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 36.3% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 46.8% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 76% of revenue deployed · 99.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $179K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 41 of 41 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2023 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.