Overview
What is Ifma Educational Foundation?
The Ifma Educational Foundation, located in Chicago, Illinois, is a nonprofit organization with a focus on supporting and fostering careers in the foodservice industry. Their primary goal is to provide scholarships and fund curriculum and training programs for individuals interested in this field. By doing so, they aim to invest in the next generation of foodservice professionals, contributing to the growth and development of this industry. The foundation's activities extend beyond financial aid, also involving curriculum and training programs to ensure a skilled workforce for the future.
Official website here: www.ifmaworld.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 57%, One-Star out of Four Stars
The Ifma Educational Foundation has received a low rating of 57%, which corresponds to a One-Star status. This reflects significant concerns regarding the organization's financial management and program efficiency. The rating is exclusively based on Accountability & Finance metrics, highlighting the importance of transparency and responsible use of funds in nonprofit operations.
Strengths of the organization include a strong governance structure, as evidenced by having 83% of its board members being independent and the establishment of various policies such as conflict of interest and whistleblower protections. These elements demonstrate a commitment to ethical management. Additionally, the foundation has shown that there has been no material diversion of assets, which is a positive indicator of financial integrity.
However, the foundation struggles with financial performance, particularly in its program expense ratio, which stands at only 14.25%. This suggests that a very small portion of its expenditures is directed toward program activities, raising concerns about the effectiveness of its funding allocation. Furthermore, the liabilities to assets ratio of 7.31% may indicate potential financial risk. High salaries for key personnel, such as the CEO earning $475,000, may also be viewed critically in light of the organization's overall financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Ifma Educational Foundation legitimate?
Ifma Educational Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ifma Educational Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.ifmaworld.com
What is the mission statement of Ifma Educational Foundation?
The Ifma Educational Foundation's primary purpose is to fund scholarships and support curriculum and training programs for individuals interested in pursuing a career in the foodservice industry. They aim to provide educational opportunities and practical experience to these individuals through scholarship and internship programs, primarily for college and university students. The foundation's mission is to contribute to the growth and development of the foodservice industry by nurturing future professionals.
Official website here: www.ifmaworld.com
Who is the CEO of Ifma Educational Foundation?
Jennifer Tarulis is the Chief Executive Officer of Ifma Educational Foundation. The CEO's salary of Ifma Educational Foundation is $0 and their total compensation is $519,400.
Official website here: www.ifmaworld.com
What is the revenue of Ifma Educational Foundation?
Ifma Educational Foundation's revenue in 2022 was $481,885.
Official website here: www.ifmaworld.com
Who are the executives of Ifma Educational Foundation and what are their salaries?
There 5 volunteers at Ifma Educational Foundation.
Here are 7 key members and their salaries (Ifma Educational Foundation's CEO's salary is $0 and their total compensation is $519,400):
- Compensation: $0
- Related: $475,000
- Other: $44,400
- Compensation: $0
- Related: $312,877
- Other: $97,323
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.ifmaworld.com
Where can I find the form 990 for Ifma Educational Foundation?
Ifma Educational Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ifmaworld.com
Learn more at the official website: www.ifmaworld.com
Mission Statement of Ifma Educational Foundation
The Ifma Educational Foundation is dedicated to its primary mission, which involves funding scholarships and supporting curriculum and training programs for individuals who are interested in pursuing a career in the foodservice industry. This nonprofit organization's main objective is to empower and assist prospective professionals in this field by providing them with financial aid and educational resources. By doing so, the Ifma Educational Foundation aims to foster growth and development within the foodservice industry, ultimately contributing to its overall success and progress. In addition to scholarships, the foundation also offers internship programs for college and university students, providing them with hands-on experience and practical skills in the foodservice sector.
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Impact
July, 2024
The Ifma Educational Foundation's impact includes providing scholarships and supporting curriculum and training programs for individuals interested in pursuing a career in the foodservice industry. Through its scholarship and internship programs for college and university students, the foundation contributes to the development of future professionals in the food industry. This support helps to ensure that individuals have access to education and training opportunities that can lead to successful careers in the field.
This information is meant to be a general summary of Ifma Educational Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $481,885
Assets and Liabilities:
- Total Assets: $1,869,167
- Total Liabilities: $136,763
- Net Assets: $1,732,404
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Organization Details
Founding Year
1972
Phone
(312) 540-4400Principal Officer
Jennifer Tarulis
Main Address
180 N STETSON AVENUE STE 850, CHICAGO, IL, 60601
Website
www.ifmaworld.comNTEE Category
Code: K40P - Food
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