Internal Audit Foundation

Analysis

Internal Audit Foundation is a registered charity in United States, based in Lake Mary, FL. It received its IRS tax-exemption ruling in February 1983, 43 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Internal Audit Foundation reported income of $1.1m and spending of $1.4m, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.1m to $1.1m (-46%), an average of -14% a year. The sharpest change came in the year to December 2022, when income dropped by 52%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Internal Audit Foundation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 83rd percentile within FL. Charities of a similar size with the same main cause include Livermore Playschool Inc ($1.1m), Fallbrook Community Development Corporation ($1.1m) and Crossroads Early Learning Center II Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Other salaries and wages came to $325k. At year end it held assets of $5.7m against liabilities of $115k, net assets of $5.6m.