Financial Disclosures
IRFE maintains complete financial transparency, publishing annual reports and disclosing all funding sources to ensure accountability and independence.
2024 Financial Summary
Revenue Sources
- Educational Programs: $450,000 (60% of revenue)
- Research Grants: $200,000 (27% of revenue)
- Publication Sales: $100,000 (13% of revenue)
- Total Revenue: $750,000
Expense Breakdown
- Operations: $350,000 (47% of expenses)
- Verification Services: $250,000 (33% of expenses)
- Technology & Security: $100,000 (13% of expenses)
- Administration: $50,000 (7% of expenses)
- Total Expenses: $750,000
Funding Independence
No Commercial Sponsorships
IRFE has never received funding from:
- Fitness equipment manufacturers
- Dietary supplement companies
- Certification examination providers
- Commercial fitness franchises
- Personal training software companies
Reserve Funds
Financial Stability
- Operating Reserve: $500,000 (sufficient for 8 months of operations)
- Contingency Fund: $250,000 for unexpected expenses
- Endowment: $1,000,000 for long-term sustainability
Annual Audit
Independent Financial Audit
Conducted by Grant Thornton International:
- Audit Opinion: Unqualified (clean) opinion
- Key Findings: Strong internal controls, proper fund management
- Recommendations: None - fully compliant with standards
Future Funding Plans
Sustainability Strategy
IRFE plans to maintain independence through:
- Expansion of educational program offerings
- Increased research collaboration opportunities
- Development of online learning platforms
- Publication of methodology research