International Financial Reporting Standards Foundation
- Assets
- $68.0m
- Revenue
- $40.1m
- Investments
- $0.0
- Employees
- 4
- Location
- Founding
- 06/2001
- Data as of
- 12/2021
- EIN
- 13-4164140
Organization Overview
International Financial Reporting Standards Foundation is located in null. The organization was established in 2001. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, International Financial Reporting Standards Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Financial Reporting Standards Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, International Financial Reporting Standards Foundation generated $40.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $39.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S WORK SERVES THE PUBLIC INTEREST BY FOSTERING TRUST, GROWTH AND LONG-TERM FINANCIAL STABILITY IN THE GLOBAL ECONOMY. THE IFRS FOUNDATION HAS A THREE-TIER GOVERNANCE STRUCTURE, BASED ON TWO INDEPENDENT STANDARD-SETTING BOARDS OF EXPERTS (INTERNATIONAL ACCOUNTING STANDARDS BOARD AND INTERNATIONAL SUSTAINABILITY STANDARDS BOARD), GOVERNED AND OVERSEEN BY TRUSTEES FROM AROUND THE WORLD (IFRS FOUNDATION TRUSTEES) WHO IN TURN ARE ACCOUNTABLE TO A MONITORING BOARD OF PUBLIC AUTHORITIES (IFRS FOUNDATION MONITORING BOARD). (SEE THE CONTINUATION ON SCHEDULE O.)
CONTENT SERVICES AND RELATED ACTIVITIES: PUBLICATIONS AND THE IFRS TAXONOMY ACTIVITIES ALL SUPPORT THE OBJECTIVES OF THE ORGANIZATION AND THE STANDARD SETTING PROCESS. SOME MAJOR ACTIVITIES ARE AS FOLLOWS: * CREATION AND MANAGEMENT OF CONTENT-RELATED POLICIES. A KEY CHALLENGE FOR THE CONTENT SERVICES TEAM IS TO BALANCE THE COMMERCIAL NEEDS AND THE PUBLIC INTEREST MISSION OF THE IFRS FOUNDATION. (SEE THE CONTINUATION ON SCHEDULE O.)
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hans Hoogervorst Chair - Iasb Board | Officer | 40 | $846,413 |
Sue Lloyd Vice Chair - Iasb Board | Officer | 40 | $810,803 |
Bruce Mackenzie Iasb Board Member | 40 | $749,171 | |
Nick Anderson Iasb Board Member | 40 | $742,323 | |
Jianqiao Lu Iasb Board Member | 40 | $742,323 | |
Tadeu Cendon Iasb Board Member | 40 | $742,323 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Buckmans Publishing | 12/30/21 | $674,703 |
Pricewater House Coopers Llp Consultancy Services | 12/30/21 | $294,167 |
Adobe Systems Software It Software Provider | 12/30/21 | $467,716 |
Softcat Limited It Software Provider | 12/30/21 | $546,814 |
Ensemble Systems Inc It Consultancy Serv. | 12/30/21 | $619,042 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,846,858 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,389,014 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $24,235,872 |
| Total Program Service Revenue | $3,998,658 |
| Investment income | $261,470 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $11,182,262 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,055,296 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,715,257 |
| Compensation of current officers, directors, key employees. | $1,489,569 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,565,330 |
| Pension plan accruals and contributions | $1,413,213 |
| Other employee benefits | $601,769 |
| Payroll taxes | $2,939,547 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $341,661 |
| Fees for services: Accounting | $118,361 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $44,042 |
| Fees for services: Other | $0 |
| Advertising and promotion | $47,322 |
| Office expenses | $714,095 |
| Information technology | $3,135,794 |
| Royalties | $0 |
| Occupancy | $1,693,689 |
| Travel | $11,237 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,150 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,487,356 |
| Insurance | $164,739 |
| All other expenses | $0 |
| Total functional expenses | $39,666,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,664,943 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,759,440 |
| Accounts receivable, net | $1,085,419 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $225,459 |
| Prepaid expenses and deferred charges | $1,625,992 |
| Net Land, buildings, and equipment | $10,934,383 |
| Investments—publicly traded securities | $28,688,579 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $67,984,215 |
| Accounts payable and accrued expenses | $10,779,270 |
| Grants payable | $0 |
| Deferred revenue | $2,095,165 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $12,874,435 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $55,109,780 |
| Total liabilities and net assets/fund balances | $67,984,215 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of B C Pension Plan For Members Of The Academic Staff | $3,025,719,215 | $359,674,505 |
Joint Israel | $84,677,000 | $114,475,000 |
Canadian Cancer Society | $200,130,513 | $130,810,132 |
The Research Institute Of The Mcgill University Health Centre | $143,882,376 | $113,346,903 |
Showa Womens University Inc | $490,588,621 | $122,348,892 |
Warszawski Uniwrsytet Medyczny | $608,220,527 | $118,223,341 |
Ottawa Hospital Research Institute | $151,403,830 | $102,882,433 |
Vancouver Foundation | $1,114,568,560 | $88,948,385 |
Foundation For Innovative New Diagnostics Find | $189,507,117 | $110,032,140 |
National Arts Centre Corporation | $237,709,768 | $100,347,000 |
Alliance For A Green Revolution In Africa | $114,568,714 | $92,216,743 |
Hong Kong International School Association Limited | $465,180,898 | $109,698,313 |