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Indiana Economic Development Association Foundation

Tax-deductible

Indianapolis, IN501(c)(3)Community DevelopmentEIN 20-3318486Revenue $251K in FY2024

On file with the IRSieda.org/foundation125 West Market Street, 46204-2820 · Indianapolis, INTax-exempt since Mar 2007Publicly supported charity — 170(b)(1)(A)(vi)

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To promote Economic Development in Indiana through education and scholarships.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
50 mo
of spending, in cash
Looks good: 49.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $150K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$251K
+190% vs prior year
Spent
$56K
To programs
98%
Net assets
$246K
By yearFY2020–FY2024
Revenue
$251K
FY2024▲ +190%
Tap a bar for its year
Revenue by fiscal year
FY2020$15K
FY2021$91K
FY2022$147K
FY2023$87K
FY2024$251K
Net assets
$246K
FY2024▲ +384%
Tap a bar for its year
Net assets by fiscal year
FY2020$116K
FY2021$178K
FY2022$254K
FY2023$51K
FY2024$246K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2007.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $55K Management & general 2% · $918

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
Jim Tidd
Chairman
$0Pt VII · Sec A
Cheryl Morphey
Vice Chairman
$0Pt VII · Sec A
Sarah Browning
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Indiana Economic Development Association Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Boosts Indiana's economy by providing education and scholarships.

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Provided by the organization

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3 programs · $55K · in their own filed words · FY2024
01

Consulting services on regional economic development modules

$50Kprogram expense
02

Provide educational scholarships

$4Kprogram expense
03

Research for agricultural maps in indiana

$1Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
American Online Giving Foundation INCFY2024$150K
Total grants receivedfrom 1 funder$150K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$251K
Ln 12
Gifts and grantsLn 1h$247K
Other incomeLn 4–11$4K
Investment incomeLn 3$18
Money outPt IX
$56K
Ln 25
Programscol B$55K
Managementcol C$918
Owns and owesPt X
$246K
net assets · Ln 32
Cash and savingsLn 1–2$232K
Total assetsLn 16$246K
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$247K
Investment incomeLn 3$18
Other incomeLn 4–11$4K
Total revenueLn 12$251K
Assets in detailPt X, end of year
CashLn 1$16K
SavingsLn 2$216K
Cash and savings togetherLn 1–2$232K
Total assetsLn 16$246K
LiabilitiesLn 26$0
Net assetsLn 32$246K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$38K$232K
Total assetsLn 16$64K$246K
LiabilitiesLn 26$13K$0
Net assetsLn 32$51K$246K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1K$1K
Grants to domestic individualsLn 2$4K$4K
Accounting feesLn 11c$400$0$400$0
Other fees for servicesLn 11g$50K$50K$0$0
Office expensesLn 13$76$0$76$0
Conferences, conventions and meetingsLn 19$126$0$126$0
InsuranceLn 23$316$0$316$0
Total functional expensesLn 25$56K$55K$918$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $251K$56K$195K$246K 990 PDF
FY2023 $87K$51K 990 PDF
FY2022 $147K$254K 990 PDF
FY2021 $91K$178K 990 PDF
FY2020 $15K$116K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $251,336 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $84,791$247,241
I-9 Program service revenue$0
I-10 Investment incomePrior year $27$18
I-11 Other revenuePrior year $1,920$4,077
I-12 Total revenuePrior year $86,738$251,336
I-13 Grants and similar amounts paidPrior year $116,515$4,650
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $173,592$51,378
I-18 Total expensesPrior year $290,107$56,028
I-19 Revenue less expensesPrior year −$203,369$195,308
Part VI · Governance 8 of 8 board members independent, 2 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $251,336 across 4 lines filed
Lines not itemized here account for $4,077 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$247,241
VIII-1h Total contributions, gifts and grants$247,241
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $18$18
VIII-12 Total revenueRelated to mission $4,077 · Unrelated business $0 · Excluded from tax $18$251,336
Part IX · Statement of functional expenses $56,028 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $1,100$1,100
IX-2 Grants to domestic individualsPrograms $3,550$3,550
IX-11c Accounting feesPrograms $0 · Management $400 · Fundraising $0$400
IX-11g Other fees for servicesPrograms $50,460 · Management $0 · Fundraising $0$50,460
IX-13 Office expensesPrograms $0 · Management $76 · Fundraising $0$76
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $126 · Fundraising $0$126
IX-23 InsurancePrograms $0 · Management $316 · Fundraising $0$316
IX-25 Total functional expensesPrograms $55,110 · Management $918 · Fundraising $0$56,028
Part X · Balance sheet $246,223 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $38,171$16,321
X-2 Savings and temporary cash investments$216,116
X-4 Accounts receivableStart of year $26,106$13,786
X-16 Total assetsStart of year $64,277$246,223
X-26 Total liabilitiesStart of year $13,362$0
X-27 Net assets without donor restrictionsStart of year $50,915$246,223
X-32 Total net assets or fund balancesStart of year $50,915$246,223
X-33 Total liabilities and net assetsStart of year $64,277$246,223
Part XI · Reconciliation of net assets $246,223 net assets at year end
XI-1 Total revenue$251,336
XI-2 Total expenses$56,028
XI-3 Revenue less expenses$195,308
XI-4 Net assets at start of year$50,915
XI-10 Net assets at end of year$246,223

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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