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Institute for Quantitative Research FY2021 filing

Not tax-deductible

New York, NY501(c)(6)Community Development EIN 22-3773177Revenue $277K in FY2021

On file with the IRSq-group.orgCo Jaffe Mgmt 330 W 38th St 1105, 10018-0000 · New York, NYTax-exempt since Apr 2001

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Forum to evaluate new Research, Quantitative applications and provide solutions to improve investment.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
66¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $98K a year · 20% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
66%
of spending
Fine: 66% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
28 mo
of spending, in cash
Looks good: 27.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$88K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$277K
-50% vs prior year
Spent
$454K
To programs
66%
Net assets
$1.1M
By yearFY2020–FY2024
Revenue
$277K
FY2021▼ -50%
Tap a bar for its year
Revenue by fiscal year
FY2020$551K
FY2021$277K
FY2022$472K
FY2023$597K
FY2024$538K
Expenses
$454K
FY2021▲ +16%
Tap a bar for its year
Expenses by fiscal year
FY2020$392K
FY2021$454K
FY2022$650K
FY2023$707K
FY2024$720K
Net assets
$1.1M
FY2021▼ -19%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.4M
FY2021$1.1M
FY2022$1.0M
FY2023$909K
FY2024$722K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2001.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

66 cents of each dollar spent went to programs.

Program services 66% · $298K Management & general 34% · $156K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Gilbert Hammer
Vice Chair
$0Pt VII · Sec A
P Hammond
Vice Chair
$0Pt VII · Sec A
Marc Reinganum
Executive Vice President
$0Pt VII · Sec A
Mehdi Mahmud
Director
$0Pt VII · Sec A
Andrew Ang
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Institute for Quantitative Research executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Evaluates new research and quantitative applications to improve investments.

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Provided by the organization

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1 program · $298K · in their own filed words · FY2021
01

The organization provides a forum for investment professionals toadvance the practice of global investment management by connecting investment professionals with rigorous research and ideas at the frontier of the industry.

$298Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $51K · 2020–2024
Unitemized GrantFY2024$10,395
Unitemized GrantFY2023$10,366
Unitemized GrantFY2022$9,520
Unitemized GrantFY2021$10,353
Unitemized GrantFY2020$10,324

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$277K
Ln 12
Fees for servicesLn 2g$277K
Investment incomeLn 3$176
Money outPt IX
$454K
Ln 25
Programscol B$298K
Managementcol C$156K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$1.0M
Total assetsLn 16$1.2M
LiabilitiesLn 26$88K
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$277K
Investment incomeLn 3$176
Total revenueLn 12$277K
Assets in detailPt X, end of year
CashLn 1$270K
SavingsLn 2$772K
Cash and savings togetherLn 1–2$1.0M
Total assetsLn 16$1.2M
LiabilitiesLn 26$88K
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 616
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$1.2M$1.0M
Total assetsLn 16$1.5M$1.2M
LiabilitiesLn 26$88K$88K
Net assetsLn 32$1.4M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$10K$10K
Management feesLn 11a$151K$20K$131K
Legal feesLn 11b$76$76
Accounting feesLn 11c$13K$13K
Other fees for servicesLn 11g$20K$20K
Office expensesLn 13$9K$2K$8K
Information technologyLn 14$2K$2K
TravelLn 17$7K$7K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$239K$239K
Total functional expensesLn 25$454K$298K$156K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $538K$720K−$182K$722K 990 PDF
FY2023 $597K$707K−$109K$909K 990 PDF
FY2022 $472K$650K−$178K$1.0M 990 PDF
FY2021 Viewing $277K$454K−$177K$1.1M 990 PDF
FY2020 $551K$392K$158K$1.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $276,726 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $550,195$276,550
I-10 Investment incomePrior year $349$176
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $550,544$276,726
I-13 Grants and similar amounts paidPrior year $10,324$10,353
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $381,898$443,545
I-18 Total expensesPrior year $392,222$453,898
I-19 Revenue less expensesPrior year $158,322−$177,172
Part VI · Governance 16 of 16 board members independent, 3 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $276,726 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $276,550$276,550
VIII-3 Investment incomeExcluded from tax $176$176
VIII-12 Total revenueRelated to mission $276,550 · Unrelated business $0 · Excluded from tax $176$276,726
Part IX · Statement of functional expenses $453,898 across 10 lines filed
IX-2 Grants to domestic individualsPrograms $10,353$10,353
IX-11a Management feesPrograms $20,000 · Management $130,800$150,800
IX-11b Legal feesManagement $76$76
IX-11c Accounting feesManagement $13,057$13,057
IX-11g Other fees for servicesPrograms $20,000$20,000
IX-13 Office expensesPrograms $1,728 · Management $7,727$9,455
IX-14 Information technologyManagement $1,786$1,786
IX-17 TravelPrograms $7,379$7,379
IX-23 InsuranceManagement $2,169$2,169
IX-24 Other expenses (24a–d)Programs $238,823$238,823
IX-25 Total functional expensesPrograms $298,283 · Management $155,615 · Fundraising $0$453,898
Part X · Balance sheet $1,195,413 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $307,913$270,299
X-2 Savings and temporary cash investmentsStart of year $921,409$771,585
X-9 Prepaid expenses and deferred chargesStart of year $142,600$153,529
X-16 Total assetsStart of year $1,462,422$1,195,413
X-19 Deferred revenueStart of year $66,000$88,225
X-26 Total liabilitiesStart of year $87,562$88,225
X-27 Net assets without donor restrictionsStart of year $1,374,860$1,107,188
X-32 Total net assets or fund balancesStart of year $1,374,860$1,107,188
X-33 Total liabilities and net assetsStart of year $1,462,422$1,195,413
Part XI · Reconciliation of net assets $1,107,188 net assets at year end
XI-1 Total revenue$276,726
XI-2 Total expenses$453,898
XI-3 Revenue less expenses−$177,172
XI-4 Net assets at start of year$1,374,860
XI-9 Other changes in net assets−$90,500
XI-10 Net assets at end of year$1,107,188

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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