Ibo
The IBO doesn't want to be the 5th belt. They want to replace the "credible" 4 "ranking organizations" by crowning the 1 real world champion, using computerized rankings and by being honest and transparent.
Boxing doesn't need more belts but the sport of boxing would be much better off if the IBO was the recognized title.
Ibf
The IBF is a non profit... The president is an elected office, but trying to get enough support to get voted in is a dangerous game. The loser doesnt just go home, they are OUT, and not just out of the IBF, etc.. but probably out of boxing as well, and for life. A good example is the formation of the WBO: WBA officials tried to oust mendoza and were sent on their way... straight to the alphabet and the WBO was born...
Thats why nobody tries to get elected in the these organizations... Mendoza, Suliamon, etc.. are viewed as President for life because nobody has the power to take them on...
There is a lot more to it but thats the basic idea..
This IBF power struggle is going to get very interesting...