Internal Audit Foundation EIN 59-1859804 Form 990 (PDF) Claim this org

Internal Audit Foundation FY2022 filing

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Educates and researches internal auditing practices. For fiscal year 2022 it reported $936K in revenue, $679K in expenses, and $5.5M in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Lake Mary, FL
Website
www.theiia.org
Filings
5 on file (2020–2022)
Revenue
$936KFY2022
Expenses
$679K
Net assets
$5.5M
People
16
Filings
5
Updates
0
More identity details & actions ⌄
EIN  59-1859804 Public charity (501(c)(3)) Lake Mary, FL
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Figures match the IRS filing checked 9/3/26 · see original: IRS
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Size
$1–10M
What they do
Educates and researches internal auditing practices.
Leadership
Anthony Pugliese · Iia CEO, Ex-Officio Member
Money in and out
$936K revenue, $679K expenses
Bottom line
65% program efficiency
Where the money goes · FY2022
Total revenue
$936K
Pt VIII · Ln 12
Total expenses
$679K
Pt IX · Ln 25
Net assets
$5.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $257K
Where spending went · Part IX cols B–D
Program services $0.65 Management & general $0.35
Program efficiency
65%
of spending reaches programs
Operating runway
92.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
+27%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$936K
FY2022▼ -52%
Expenses
$679K
FY2022▼ -56%
Total assets
$5.6M
FY2022▼ -6%
Total liabilities
$129K
FY2022▲ +2%
Total revenue
$936K
Pt VIII · Ln 12
Total expenses
$679K
Pt IX · Ln 25
Net assets
$5.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$257K
Total assetsPt X · Ln 16$5.6M
Program-expense ratioPt IX · col B65%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 411

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CInternal Audit Foundation
EINHdr · item D59-1859804
Principal addressHdr · item CLake Mary, FL
WebsiteHdr · item Jwww.theiia.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MFL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B114)
Ruling yearIRS BMFFeb 1983

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b11
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Iia CEO, Ex-Officio Member
$0Pt VII · Sec A
EVP Strat/Ppl/Innov Thru 11/22
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
Finance Director
$0Pt VII · Sec A
SR. Director, Iaf
$0Pt VII · Sec A
Dir. Development Thru 04/22
$0Pt VII · Sec A
$0Pt VII · Sec A
SR Vice President, Strateggy
$0Pt VII · Sec A
See Internal Audit Foundation executive salaries →

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Mission & Programs · Part III

Where the work happens

2 program services account for $442K of program spending, described in the organization's own filed words · FY2022.
01

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.

$343Kprogram expense
02

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.

$99Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$643K · 69%
Other revenue$191K · 20%
Investment income$102K · 11%
Contributions & grants69%$643K
Other revenue20%$191K
Investment income11%$102K
Total revenueLn 12$936K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.65 Management & general $0.35
Program services65%$442K
Management & general35%$237K
Total functional expensesLn 25$679K

Balance Sheet

Part X · end of year
CashLn 1$2.1M
Total assetsLn 16$5.6M
Total liabilitiesLn 26$129K
Total net assetsLn 32$5.5M
Months of cash on handcomputed37.5

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $5.2M · Operating expenses/yr $679K
92.2 months
Where the money goes
Program services
Program services $442K · Total expenses $679K
65%
Management & General
Management & general $237K · Total expenses $679K
35%
Fundraising
Fundraising $0 · Total expenses $679K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $804K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $643K · Total revenue $936K
69%
Government reliance
Government grants — · Total revenue $936K
Earned-income share
Program service revenue $0 · Total revenue $936K
0%
Investment reliance
Investment income $102K · Total revenue $936K
+11%
Program self-sufficiency
Program service revenue $0 · Total expenses $679K
0%
Growth & trend
Revenue growth (YoY)
This year $936K · Prior year $2.0M
-52%
Net-asset trend (YoY)
End of year $5.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $936K · Expenses $679K
+27%
Liabilities-to-Assets
Total liabilities — · Total assets $5.6M
Net-asset ratio
Net assets $5.5M · Total assets $5.6M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $3.1M · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $5.6M
55%
People & payroll
Highest Reported Total Compensation
Individual Anthony Pugliese · Reported title IIA CEO, EX-OFFICIO MEMBER · Highest reported compensation $0 · Total expenses $679K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $282K · Total expenses $679K
42%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 65%
Overhead ratio 35%
Fundraising cost ratio 0%
Revenue growth -52%
Investment management fee ratio 0.1%
Legal fee ratio 2%
Accounting fee ratio 3%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 4 funders →
Grants paid · 38 grants · $385K · 2020–2024
Texas A&m FoundationTX · FY2024$13,000
Seattle UniversityWA · FY2024$9,000
Kennesaw State University ResearchFY2024$8,500
Unitemized GrantFY2024$7,000
Pittsburg State UniversityFY2024$6,000
Unitemized GrantFY2024$5,500
University at BuffaloFY2024$5,500
Unitemized GrantFY2023$15,000
Texas A&m UniversityFY2023$10,500
University of Texas at El PasoFY2023$9,000
Kennesaw State University ResearchFY2023$8,500
Unitemized GrantFY2022$20,000
Unitemized GrantFY2022$15,000
University of Texas at El PasoFY2022$10,000
Seattle UniversityWA · FY2022$10,000
See all 38 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$2.2M revenue · ⤓ 990 PDF
FY2023$1.1M revenue · ⤓ 990 PDF
FY2022$936K revenue · viewing · ⤓ 990 PDF
FY2021$2.0M revenue · ⤓ 990 PDF
FY2020$1.9M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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