REPORT DIGEST

IMSA FUND FOR ADVANCEMENT OF EDUCATION

FINANCIAL AUDIT
FOR THE YEAR ENDED JUNE 30, 2023

Release Date:  November 28, 2023

FINDINGS THIS AUDIT: 0
FINDINGS LAST AUDIT: 0

State of Illinois, Office of the Auditor General
FRANK J. MAUTINO, AUDITOR GENERAL

To obtain a copy of the Report contact:
Office of the Auditor General, Iles Park Plaza, 740 E. Ash Street, Springfield, IL 62703
(217) 782-6046 or TTY (888) 261-2887

This Report Digest and Full Report are also available on the worldwide web at www.auditor.illinois.gov

INTRODUCTION

The IMSA Fund for Advancement of Education (Fund) was incorporated February 6, 1986 as an Illinois not-for-profit corporation.  The Fund serves as the primary source of private funding for the Illinois Mathematics and Science Academy (Academy).  The primary functions of the Fund are to raise funds from the private sector, oversee the management and distribution of the Fund’s assets and to enrich the Academy’s education programs.  Private sector contributions also provide resources to enhance the Academy’s continuing development as an educational laboratory for schools and teachers throughout the State.  

AUDITOR’S OPINION

The auditors stated the financial statements of the Fund as of and for the year ended June 30, 2023 are fairly stated in all material respects.

This financial audit was conducted by Borschnack, Pelletier & Co.

JANE CLARK
Division Director

This report is transmitted in accordance with Section 3-14 of the Illinois State Auditing Act.

FRANK J. MAUTINO
Auditor General

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