Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1983.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
77 cents of each dollar spent went to programs.
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
18 people listed on the 990.
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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
Educates and researches internal auditing practices.
Questions for Internal Audit Foundation
Your first name shows with your question. Internal Audit Foundation answers here, for everyone.
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The internal audit foundation produces educational publications focused on aiding internal audit practitioners in performing their role adequately, in alignment with the iia's standards for the profession, and best practices.
The foundation provides grants to educational institutions worldwide that participate in the iia's internal auditing education partnership (iaep) program which was developed to respond to the growing interest in internal audit education at institutions of higher learning.
The foundation conducts and funds research on the internal audit profession including trending practices over time and research on the impact of macro economic, technological, and environmental factors on the business environment and subsequently the profession.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.6M | $1.8M |
| InvestmentsLn 11–13 | $3.1M | $3.2M |
| Land, buildings, equipmentLn 10c | $0 | $0 |
| Total assetsLn 16 | $5.1M | $5.4M |
| LiabilitiesLn 26 | $175K | $87K |
| Net assetsLn 32 | $4.9M | $5.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $90K | $90K | ||
| Grants to domestic individualsLn 2 | $18K | $18K | ||
| Other salaries and wagesLn 7 | $825K | $544K | $282K | |
| Other employee benefitsLn 9 | $245K | $161K | $84K | |
| Legal feesLn 11b | $15K | $15K | ||
| Investment management feesLn 11f | $5K | $5K | ||
| Other fees for servicesLn 11g | $139K | $118K | $21K | |
| Advertising and promotionLn 12 | $16K | $16K | ||
| Office expensesLn 13 | $145K | $145K | $373 | |
| OccupancyLn 16 | $6K | $6K | ||
| TravelLn 17 | $2K | $2K | $778 | |
| Depreciation, depletion and amortizationLn 22 | $93K | $93K | ||
| InsuranceLn 23 | $3K | $668 | $3K | |
| Other expenses (24a–d)Ln 24 | $136K | $134K | $2K | |
| All other expensesLn 24e | $1K | $1K | ||
| Total functional expensesLn 25 | $1.7M | $1.3M | $404K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $2.2M | $1.5M | $751K | $6.5M | 990 PDF |
| FY2023 | $1.1M | $1.4M | −$272K | $5.6M | 990 PDF |
| FY2022 | $936K | $679K | $257K | $5.5M | 990 PDF |
| FY2021 | $2.0M | $1.5M | $424K | $5.8M | 990 PDF |
| FY2020 Viewing | $1.9M | $1.7M | $167K | $5.3M | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $1,908,003 revenue, 12 lines filed
Part VI · Governance 11 of 12 board members independent, no flags
Part VIII · Statement of revenue $1,908,003 across 7 lines filed
Part IX · Statement of functional expenses $1,740,831 across 15 lines filed
Part X · Balance sheet $5,378,406 assets, 16 lines filed
Part XI · Reconciliation of net assets $5,291,488 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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