Ishlt Foundation

Nonprofit profile at a glance

EIN
921940881
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3122241261
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$1,501,446
Expenses
$409,784
Assets
$6,000,015
Liabilities
$365,750

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

Leadership & pay

10 people listed

Executive titles in this filing

  • GREGORY SCHULTZ (CEO)

Highest reported compensation

  • GREGORY SCHULTZ (CEO): $438,179 total reported compensation
  • AARON ADAIR (COO): $154,367 total reported compensation

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

Overview

Mission

Ishlt foundation funds research to improve patient care in advanced heart and lung disease, and programs that develop the next generation of researchers and clinicians around the world.

What it reported doing in 2024

To fund research to improve patient care in advanced heart and lung disease, and programs that develop the next generation of researchers and clinicians around the world.

Operating model

Revenue model
Affiliate-supported. 67% of the money available for current operations came from contributions from related organizations.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 33
  • Transparency & Controls: 66
  • Accountability: 91
  • Sustainability: 82
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 20.8%; rating input score 21
  • Program expense ratio: 62.6%; rating input score 63
  • 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: 3 of 8 controls in place; rating input score 38
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Pass
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 76th 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 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 72.7%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 14.64; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 12.6%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: -83.8% per year; rating input score 0; 0th percentile among comparable filings
  • Revenue growth: -91.4% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 46.9% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 20.8% of revenue deployed · 62.6% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $257K in reported program spending
  • Leadership: top reported pay $438K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 8 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 21/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Transparency & Controls: Foreign activity oversight: 5 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 29/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.