Inforum FY2024 filing

Tax-deductible

Southfield, MI501(c)(3)EducationEIN 30-0101343Revenue $2.2M in FY2024

On file with the IRSinforummichigan.org25925 Telegraph Rd Ste 105, 48033-2553 · Southfield, MITax-exempt since Sep 2002Publicly supported charity — 170(b)(1)(A)(vi)

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Inforum focuses on accelerating careers for women, providing original research and facilitating gender equity in business leadership through educational programs, networking, leadership and volunteer opportunities.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$719K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $44K a year · 2% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$719K
to officers and key staff · 32% of spending
Concern: pay to officers and key staff is 32% of spending; over 30%.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 10.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $570K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$493K
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
44
of 45 voting members
Looks good: 44 of 45 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.2M
-3% vs prior year
Spent
$2.3M
To programs
84%
Net assets
$3.8M
By yearFY2020–FY2025
Revenue
$2.2M
FY2024▼ -3%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.8M
FY2021$1.9M
FY2022$2.0M
FY2023$2.3M
FY2024$2.2M
FY2025$1.8M
Expenses
$2.3M
FY2024▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.8M
FY2021$1.6M
FY2022$2.1M
FY2023$2.2M
FY2024$2.3M
FY2025$2.2M
Net assets
$3.8M
FY2024+0.3%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.4M
FY2021$4.0M
FY2022$3.6M
FY2023$3.8M
FY2024$3.8M
FY2025$3.6M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2002.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $1.9M Management & general 7% · $157K Fundraising 9% · $200K

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

53 people listed on the 990; $719K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President and CEO
$378,101Pt VII · Sec A
VP, Corporate & Member Eng
$124,367Pt VII · Sec A
VP, Leadership Development
$114,300Pt VII · Sec A
$102,660Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Terry Barclay’s $353K as President and CEO is at the 98th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Terry Barclay$353,415$378,101$364,639$350,416$304,403$332,183
Cynthia Goodaker$144,500—————
Rebecca Puckett-Wood$132,808—————
Carole Leigh Hutton———$127,010$127,010$131,497
Rebecca Pucket Wood—$124,367$128,418$116,597—$112,630
Cynthia Thieme$122,506$102,660————
Lorrena Black—$114,300$108,050$106,375——
Michele Shelton—————$109,508

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Accelerates women's careers and business leadership through research, education, and networking.

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Provided by the organization

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1 program · $1.9M · in their own filed words · FY2023
01

Trained women in leadership skills by conducting comprehensive training sessions with leaders in the field and top women executives, including personalized mentoring. Held regular meetings and educational sessions where speakers presented topics relating to career advancement and leadership development for women.

$1.9Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
See all 7 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.2M
Ln 12
Gifts and grantsLn 1h$1.6M
Fees for servicesLn 2g$580K
Investment incomeLn 3$52K
Money outPt IX
$2.3M
Ln 25
Programscol B$1.9M
Managementcol C$157K
Fundraisingcol D$200K
Owns and owesPt X
$3.8M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$4.3M
LiabilitiesLn 26$493K
PeoplePt VI, VII
53
listed · VII A
PaidVII A4
Voting boardVI 1a45
IndependentVI 1b44
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Fees for servicesLn 2g$580K
Investment incomeLn 3$52K
Gains on assetsLn 7$2K
Total revenueLn 12$2.2M
Assets in detailPt X, end of year
CashLn 1$656K
SavingsLn 2$1.3M
Cash and savings togetherLn 1–2$2.0M
InvestmentsLn 11–13$2.0M
Land, buildings, equipmentLn 10c$10K
Other assetsLn 15$68K
Total assetsLn 16$4.3M
LiabilitiesLn 26$493K
Net assetsLn 32$3.8M
OperationsPt I, VI
EmployeesI 510
VolunteersI 6356
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.1M$2.0M
InvestmentsLn 11–13$1.7M$2.0M
Land, buildings, equipmentLn 10c$14K$10K
Total assetsLn 16$4.3M$4.3M
LiabilitiesLn 26$481K$493K
Net assetsLn 32$3.8M$3.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$397K$310K$36K$52K
Other salaries and wagesLn 7$825K$644K$74K$107K
Pension plan contributionsLn 8$18K$14K$2K$2K
Other employee benefitsLn 9$39K$30K$3K$5K
Payroll taxesLn 10$69K$54K$6K$9K
Accounting feesLn 11c$19K$12K$5K$2K
Investment management feesLn 11f$14K$14K
Advertising and promotionLn 12$55K$44K$4K$6K
Information technologyLn 14$55K$43K$5K$7K
OccupancyLn 16$15K$12K$1K$2K
TravelLn 17$27K$21K$2K$3K
Depreciation, depletion and amortizationLn 22$4K$3K$362$522
InsuranceLn 23$10K$8K$918$1K
Other expenses (24a–d)Ln 24$710K$710K
All other expensesLn 24e$19K$15K$2K$2K
Total functional expensesLn 25$2.3M$1.9M$157K$200K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.8M$2.2M−$391K$3.6M 990 PDF
FY2024 Viewing $2.2M$2.3M−$93K$3.8M 990 PDF
FY2023 $2.3M$2.2M$30K$3.8M 990 PDF
FY2022 $2.0M$2.1M−$98K$3.6M 990 PDF
FY2021 $1.9M$1.6M$307K$4.0M 990 PDF
FY2020 $1.8M$1.8M−$16K$3.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $2,183,400 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,488,326$1,551,711
I-9 Program service revenuePrior year $736,151$579,726
I-10 Investment incomePrior year $36,151$51,963
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,260,628$2,183,400
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,304,249$1,347,517
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $926,566$929,247
I-18 Total expensesPrior year $2,230,815$2,276,764
I-19 Revenue less expensesPrior year $29,813−$93,364
Part VI · Governance 44 of 45 board members independent, no flags
VI-1a Voting members of the governing body45
VI-1b Independent voting members44
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,183,400 across 6 lines filed
VIII-1f All other contributions, gifts and grants$1,551,711
VIII-1h Total contributions, gifts and grants$1,551,711
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $579,726$579,726
VIII-3 Investment incomeExcluded from tax $50,415$50,415
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,548$1,548
VIII-12 Total revenueRelated to mission $579,726 · Unrelated business $0 · Excluded from tax $51,963$2,183,400
Part IX · Statement of functional expenses $2,276,764 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $309,527 · Management $35,715 · Fundraising $51,588$396,830
IX-7 Other salaries and wagesPrograms $643,744 · Management $74,278 · Fundraising $107,291$825,313
IX-8 Pension plan contributionsPrograms $13,907 · Management $1,605 · Fundraising $2,318$17,830
IX-9 Other employee benefitsPrograms $30,107 · Management $3,474 · Fundraising $5,018$38,599
IX-10 Payroll taxesPrograms $53,777 · Management $6,205 · Fundraising $8,963$68,945
IX-11c Accounting feesPrograms $11,770 · Management $5,319 · Fundraising $1,962$19,051
IX-11f Investment management feesManagement $14,499$14,499
IX-12 Advertising and promotionPrograms $44,175 · Management $4,336 · Fundraising $6,263$54,774
IX-14 Information technologyPrograms $42,962 · Management $4,955 · Fundraising $7,160$55,077
IX-16 OccupancyPrograms $11,970 · Management $1,381 · Fundraising $1,995$15,346
IX-17 TravelPrograms $20,969 · Management $2,419 · Fundraising $3,495$26,883
IX-22 Depreciation, depletion and amortizationPrograms $3,132 · Management $362 · Fundraising $522$4,016
IX-23 InsurancePrograms $7,958 · Management $918 · Fundraising $1,326$10,202
IX-24 Other expenses (24a–d)Programs $710,442$710,442
IX-24e All other expensesPrograms $14,787 · Management $1,706 · Fundraising $2,464$18,957
IX-25 Total functional expensesPrograms $1,919,227 · Management $157,172 · Fundraising $200,365$2,276,764
Part X · Balance sheet $4,308,809 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $463,999$655,889
X-2 Savings and temporary cash investmentsStart of year $1,681,239$1,331,532
X-3 Pledges and grants receivableStart of year $241,234$158,992
X-4 Accounts receivableStart of year $50,800$50,248
X-9 Prepaid expenses and deferred chargesStart of year $27,535$62,602
X-10c Land, buildings and equipment, netStart of year $13,556$9,540
X-11 Publicly traded securitiesStart of year $1,748,334$1,971,852
X-15 Other assetsStart of year $59,624$68,154
X-16 Total assetsStart of year $4,286,321$4,308,809
X-17 Accounts payable and accrued expensesStart of year $219,653$206,431
X-19 Deferred revenueStart of year $261,451$286,423
X-26 Total liabilitiesStart of year $481,104$492,854
X-27 Net assets without donor restrictionsStart of year $3,407,407$3,494,108
X-28 Net assets with donor restrictionsStart of year $397,810$321,847
X-32 Total net assets or fund balancesStart of year $3,805,217$3,815,955
X-33 Total liabilities and net assetsStart of year $4,286,321$4,308,809
Part XI · Reconciliation of net assets $3,815,955 net assets at year end
XI-1 Total revenue$2,183,400
XI-2 Total expenses$2,276,764
XI-3 Revenue less expenses−$93,364
XI-4 Net assets at start of year$3,805,217
XI-5 Net unrealized gains (losses) on investments$186,347
XI-6 Donated services and use of facilities−$82,243
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,815,955

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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