Nonprofit · EIN 22-2597521
INSTITUTE FOR PORTFOLIO ALTERNATIVES INC
Tax-exempt · WASHINGTON, DC 20004
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $7,298,126 | $5,775,495 | $1,522,631 | $11,393,336 | $6,741,264 | $4,652,072 |
| December 31, 2024 | 990 | $5,584,160 | $4,550,974 | $1,033,186 | $3,759,764 | $630,323 | $3,129,441 |
| December 31, 2023 | 990 | $4,841,673 | $4,190,015 | $651,658 | $2,374,020 | $277,765 | $2,096,255 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $5,000
- Program service revenue
- $7,107,509
- Investment income
- $159,681
- Other revenue
- $25,936
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,030,011
- Other salaries and wages
- $840,591
- Salaries, compensation and benefits (total)
- $2,079,681
- Professional fundraising fees
- $0
- Legal fees
- $8,880
- Accounting fees
- $11,636
- Travel
- $163,587
- Depreciation
- $7,093
- Program services (functional)
- $5,029,561
- Management and general (functional)
- $745,934
Balance sheet and other
- Total assets, start of year
- $3,759,764
- Total assets, end of year
- $11,393,336
- Total liabilities, end of year
- $6,741,264
- Net assets, end of year
- $4,652,072
- Land, buildings and equipment
- $22,257
- Net assets without donor restrictions
- $4,652,072
- Gross receipts
- $7,298,126
- Employees
- 13
- Volunteers
- 32
- Year formed
- 1985
- State of legal domicile
- DC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Anya Coverman | President & CEO Officer | 40 | $425,000 | $23,000 |
| Megan Gavin | Director, Strategic Partnerships | 40 | $239,065 | $9,563 |
| Jeff Evans | Director, Government Affairs | 40 | $170,000 | $6,900 |
| Anh Romero | Director, Finance | 40 | $149,625 | $6,858 |
| Erik Rancatore | Senior Director | 40 | $125,000 | $5,400 |
| Lee York | Director, Members | 40 | $124,307 | $5,272 |
| John McCarthy-resigned | Director Trustee or director | 0.5 | $0 | $0 |
| Brendan Cuddihy | Director Trustee or director | 0.5 | $0 | $0 |
| Michael Ezzell | Director Trustee or director | 0.5 | $0 | $0 |
| Jay Frank | Director Trustee or director | 0.5 | $0 | $0 |
| Sean Harris-resigned | Director Trustee or director | 0.5 | $0 | $0 |
| James Hannigan | Director Trustee or director | 0.5 | $0 | $0 |
| Michael Keogh | Director Trustee or director | 0.5 | $0 | $0 |
| Dennis Martin | Director Trustee or director | 0.5 | $0 | $0 |
| Patrick McGowan | Director Trustee or director | 0.5 | $0 | $0 |
25 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Liz Jones | Director Trustee or director | 0.5 | $0 |
| Leon Volchyok | Director Trustee or director | 0.5 | $0 |
| Mark Earley | Director Trustee or director | 0.5 | $0 |
| George Stephan | Director Trustee or director | 0.5 | $0 |
| Daniel Cullen | Director Trustee or director | 0.5 | $0 |
| Neal Chansky | Director Trustee or director | 0.5 | $0 |
| Rob Bergdolt | Director Trustee or director | 0.5 | $0 |
| Ali Connaughton | Director Trustee or director | 0.5 | $0 |
| Mark Sutterlin | Director Trustee or director | 0.5 | $0 |
| John Carter | Director Trustee or director | 0.5 | $0 |
| Paul Mumma | Director Trustee or director | 0.5 | $0 |
| Angie Fisher | Director Trustee or director | 0.5 | $0 |
| Michael Sealy-resigned 262 | Director Trustee or director | 0.5 | $0 |
| Dallas Whitaker | Director Trustee or director | 0.5 | $0 |
| Patrick Willis | Director Trustee or director | 0.5 | $0 |
| Scott Napier | Director Trustee or director | 0.5 | $0 |
| Chad LaFauci | Director Trustee or director | 0.5 | $0 |
| Justin Schwartz | Director Trustee or director | 0.5 | $0 |
| Alison Nest | Director Trustee or director | 0.5 | $0 |
| Brian Ruben | Director Trustee or director | 0.5 | $0 |
| Peter Schaffer | Director Trustee or director | 0.5 | $0 |
| Kate Winters | Director Trustee or director | 0.5 | $0 |
| Chirag Bhavsar | Past Chair Officer | 0.5 | $0 |
| Bill Duffy | Chair Officer | 0.5 | $0 |
| Jason Goode | Chair Elect Officer | 0.5 | $0 |
990 for the year ended December 31, 2024: 36 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Anya Coverman | President & CEO Officer | 40 | $419,886 | $13,800 |
| Megan Gavin | Director, Strategic Partnerships | 40 | $321,088 | $21,741 |
| Anh Romero | Director, Finance | 40 | $150,000 | $6,600 |
| Mr Brendan Cuddihy | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Michael Ezzell | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Jay Frank | Director Trustee or director | 0.5 | $0 | $0 |
| Mr James Hannigan | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Michael Keogh | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Dennis Martin | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Patrick McGowan | Director Trustee or director | 0.5 | $0 | $0 |
| Ms Christina Fast Adamson | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Brad Sussman | Director Trustee or director | 0.5 | $0 | $0 |
| Ms Nancy Fahmy | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Jerry Pascucci | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Brian Hurley | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Chase Bolding | Director Trustee or director | 0.5 | $0 | $0 |
| Ms Sheila Rapple | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Thayer Gallison | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Jason Goode | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Chris Shaw | Director Trustee or director | 0.5 | $0 | $0 |
| Mr John McCarthy | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Paul Mumma | Director Trustee or director | 0.5 | $0 | $0 |
| Ms Angie Fisher | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Michael Sealy | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Dallas Whitaker | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Patrick Willis | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Scott Napier | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Daniel Cullen | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Justin Schwartz | Director Trustee or director | 0.5 | $0 | $0 |
| Ms Alison Nest | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Brian Ruben | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Peter Schaffer | Director Trustee or director | 0.5 | $0 | $0 |
| Ms Kate Winters | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Chirag Bhavsar | Chair Officer | 0.5 | $0 | $0 |
| Mr Matt Fries | Chair Emeritus Officer | 0.5 | $0 | $0 |
| Mr Bill Duffy | Chair Elect Officer | 0.5 | $0 | $0 |
990 for the year ended December 31, 2023: 34 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Anya Coverman | President & CEO Officer | 40 | $420,833 | $17,050 |
| Megan Gavin | Director, Strategic Partnerships | 40 | $335,116 | $19,951 |
| Gina Gombar | VP Government Affairs | 40 | $198,395 | $16,233 |
| Tracy Mesterharm | Assoc Dir/Secretary/Treasurer | 40 | $159,689 | $10,578 |
| Mr Chirag Bhavsar | Chair elect Trustee or director, Officer | 0.5 | $0 | $0 |
| Mr Matt Fries | Chair Trustee or director, Officer | 0.5 | $0 | $0 |
| Ms Anne-Marie Vandenberg | Chair Emeritus Trustee or director, Officer | 0.5 | $0 | $0 |
| Ms Deann Morgan | Director Trustee or director | 0.5 | $0 | $0 |
| Ms Ali Connaughton | Director Trustee or director | 0.5 | $0 | $0 |
| Mr James Goedtke | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Tom Sittema | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Douglas Krupa | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Jeremy Beal | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Mark Earley | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Bill Duffy | Director Trustee or director | 0.5 | $0 | $0 |
| Ms Christina Fast Adamson | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Brad Sussman | Director Trustee or director | 0.5 | $0 | $0 |
| Ms Nancy Fahmy | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Jerry Pascucci | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Brian Hurley | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Chase Bolding | Director Trustee or director | 0.5 | $0 | $0 |
| Ms Sheila Rapple | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Thayer Gallison | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Jason Goode | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Chris Shaw | Director Trustee or director | 0.5 | $0 | $0 |
| Mr John McCarthy | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Paul Mumma | Director Trustee or director | 0.5 | $0 | $0 |
| Ms Angie Fisher | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Michael Sealy | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Dallas Whitaker | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Patrick Willis | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Steven Snyder | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Daniel Cullen | Director Trustee or director | 0.5 | $0 | $0 |
| Mr Justin Schwartz | Director Trustee or director | 0.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1455 PENNSYLVANIA AVE NW STE 400, WASHINGTON, DC 20004-1017
- Principal officer (990 for 2025)
- Anya Coverman, 1455 Pennsylvania Ave NW 400, Washington, DC 20004
- Signed the 990
- Anya Coverman, President & CEO
- Phone
- (202) 548-7190
- Website
- www.ipa.com
- Return prepared by
- Foard and Company PA
Mission
National association of asset managers, industry partners, and distribution partners organized to ensure unity of direction and efficient coordination of issues relating to strategies & operational alignment in their offer & distribution of alternative investments.
Program accomplishments
- Membership Meetings: Membership meetings are held each year to disseminate current industry trends, promote networking opportunities, and provide regulatory updates.Expenses $5,029,561
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 22-2597521
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1986
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $11,393,336
- Income (IRS master file)
- $7,298,126
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $7,298,126 | $5,775,495 | $11,393,336 | XML |
| 990 | December 2024 | $5,584,160 | $4,550,974 | $3,759,764 | XML |
| 990 | December 2023 | $4,841,673 | $4,190,015 | $2,374,020 | XML |
| 990 | December 2022 | $4,576,207 | $4,163,543 | $1,784,232 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 22-2597521).
Questions about INSTITUTE FOR PORTFOLIO ALTERNATIVES INC
- What is the EIN of INSTITUTE FOR PORTFOLIO ALTERNATIVES INC?
- The employer identification number (EIN) of INSTITUTE FOR PORTFOLIO ALTERNATIVES INC is 22-2597521.
- Is INSTITUTE FOR PORTFOLIO ALTERNATIVES INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1986.
- Are donations to INSTITUTE FOR PORTFOLIO ALTERNATIVES INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does INSTITUTE FOR PORTFOLIO ALTERNATIVES INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of INSTITUTE FOR PORTFOLIO ALTERNATIVES INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INSTITUTE FOR PORTFOLIO ALTERNATIVES INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of INSTITUTE FOR PORTFOLIO ALTERNATIVES INC?
- The 990 for the year ended December 31, 2025 names Anya Coverman.
- Who are the officers and directors of INSTITUTE FOR PORTFOLIO ALTERNATIVES INC?
- The 990 for the year ended December 31, 2025 lists 40 people; 6 received compensation from the organization, the highest $425,000 (Anya Coverman, President & CEO).
- How much revenue does INSTITUTE FOR PORTFOLIO ALTERNATIVES INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $7,298,126, expenses of $5,775,495 and total assets of $11,393,336 at year end.
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