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← INSTITUE OF INTERNAL AUDITORS

Form 990 for tax year 2024

Filed by INSTITUE OF INTERNAL AUDITORS.

Totals

Total revenue
$394,472
Total expenses
$426,312
Contributions and grants received
$0
Grants paid
$35,242
Program service revenue
$321,088
Investment income
$36,215
Other revenue
$37,169
Total assets, end of year
$1,126,345
Total liabilities, end of year
$41,899
Net assets or fund balances, end of year
$1,084,446
Program services expenses (Part IX)
$380,177
Management and general expenses
$46,135
Fundraising expenses
$0
Program service expenses (Part III)
$258,036

Program services were 89.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: ANNUAL MEMBER FEE ALLOTME

    total $16,676 · related or exempt $16,676

  • 2b · Program service revenue: EDUCATION SESSION REVENUE

    total $29,844 · related or exempt $29,844

  • 2c · Program service revenue: SEMINARS

    total $274,568 · related or exempt $274,568

  • 3 · Investment income

    total $36,215 · related or exempt $36,215

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: ANNUAL GOLF OUTING

    total $36,910 · related or exempt $36,910

  • 11b · Other revenue: MISCELLANEOUS

    total $259 · related or exempt $259

  • 11e · Other revenue, total

    $37,169

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $35,242 · program services $35,242

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $5,710 · management and general $5,710

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $17,024 · management and general $17,024

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $9,818 · management and general $9,818

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $2,472 · management and general $2,472

  • 17 · Travel

    total $13,400 · program services $13,400

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $289,325 · program services $289,325

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: ANNUAL GOLF OUTING

    total $42,210 · program services $42,210

  • 24b · Other expenses: CHAPTER OPERATIONS

    total $11,111 · management and general $11,111

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $564,316 · end of year $321,665

  • 2 · Savings and temporary cash investments

    beginning of year $600,000 · end of year $800,000

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $290 · end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,864 · end of year $4,680

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $41,334 · end of year $21,546

  • 19 · Deferred revenue

    beginning of year $11,850 · end of year $20,353

  • 29 · Capital stock, trust principal or current funds

    beginning of year $707,291 · end of year $707,291

  • 31 · Retained earnings, endowment or other funds

    beginning of year $408,995 · end of year $377,155

Mission and programs · 2024

Mission

THE IIA - CHICAGO CHAPTER IS A PROFESSIONAL ORGANIZATION DEDICATED TO SERVING ITS MEMBERS THROUGH ACTIVITIES SUCH AS PROFESSIONAL TRAINING EDUCATION, INTERNAL AUDIT THOUGHT LEADERSHIP, AND THE ADVANCEMENT OF THE INTERNAL AUDIT PROFESSION.

  • ANNUALLY, THE IIA CHICAGO CHAPTER HOSTS ITS ANNUAL SEMINAR WHICH IS A FULL DAY OF PROFESSIONAL EDUCATION COURSES IN THE INTERNAL AUDIT FIELD. MEMBERS AND NON-MEMBERS ARE REQUIRED TO PAY A SET REGISTRATION FEE FOR THESE COURSES, FOR WHICH PARTICIPANTS RECEIVE CONTINUING PROFESSIONAL EDUCATION (CPE) CREDITS, WHICH ARE A REQUIREMENT OF MANY COMPANIES AND CERTIFICATION ORGANIZATIONS, SUCH AS THE AICPA, THE IIA AND ISACA.

    Expenses $227,439 · Revenue $274,568

  • THROUGHOUT THE YEAR, THE IIA CHICAGO HOSTS A NUMBER OF EDUCATIONAL SESSIONS AND NETWORKING EVENTS FOR ITS MEMBERS. THE GOAL OF THESE SEMINARS AND EVENTS IS TO PROMOTE OUR PROFESSIONL AND ALSO GIVE TRAINING AND SUPPLEMENTAL EDUCATION TO OUR MEMBERS IN THE FORM OF CPE CREDITS.

    Expenses $30,597 · Revenue $29,844

As filed on the 2024 return.

Listed in Part VII

  • Puja Shah

    Director

    Total calculated
    $0
    Hours/week
    0
  • Eric Simaga

    President

    Total calculated
    $0
    Hours/week
    0
  • Kristen Kelly

    SVP

    Total calculated
    $0
    Hours/week
    0
  • Sabrina Seminetta

    VP OPERATIONS

    Total calculated
    $0
    Hours/week
    0
  • Natalie Covello

    Treasurer

    Total calculated
    $0
    Hours/week
    0
  • Tiffany McCoy

    Secretary

    Total calculated
    $0
    Hours/week
    0
  • Kenneth Clow

    Director

    Total calculated
    $0
    Hours/week
    0
  • Allison Cancio

    Director

    Total calculated
    $0
    Hours/week
    0
  • Mike Manrot

    Director

    Total calculated
    $0
    Hours/week
    0
  • Dan Meyo

    VP OF EDUCATION

    Total calculated
    $0
    Hours/week
    0
  • Kyle O'Rourke

    Director

    Total calculated
    $0
    Hours/week
    0
  • Gloria Martinez

    Director

    Total calculated
    $0
    Hours/week
    0
  • Mayra Galvan

    Director

    Total calculated
    $0
    Hours/week
    0
  • Eric Wunderlich

    Director

    Total calculated
    $0
    Hours/week
    0
  • Jason Torres

    Director

    Total calculated
    $0
    Hours/week
    0
  • Corbin Del Carlo

    Director

    Total calculated
    $0
    Hours/week
    0
  • Tom Caputo

    Director

    Total calculated
    $0
    Hours/week
    0
  • Allie Arkhipenko

    Director

    Total calculated
    $0
    Hours/week
    0
  • Ed Gozdecki

    Director

    Total calculated
    $0
    Hours/week
    0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
15 October 2025
IRS schema version
2024v5.2
Source object
202542889349301309

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