Visit Indy INC FY2020 filing

Not tax-deductible

Indianapolis, IN501(c)(6)Since 1932EIN 35-0413010

Advance indianapolis tourism and economic growth.

$2.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Is it a real charity?
501(c)(6)
not on the IRS revocation list
IRS BMF · Auto-Revocation List
Are gifts tax-deductible?
No
Donations are not tax-deductible
IRS Pub. 78 · IRS BMF
Is it filing on time?
FY2024
latest Form 990
IRS e-file · Filing history
Is it financially stable?
5 of 5
years in the black
Pt I · Ln 19 · 5 filings
What are leaders paid?
$2.7M
to officers and key staff · 23% of spending
Pt VII · Sec A
Do they have reserves?
6 mo
of spending, in cash
Pt X · Ln 1–2 · Pt I · Ln 18
Who is supporting them already?
1
named funder · $5K
Funders’ Sch. I, 990-PF
Do they carry debt?
$1.8M
liabilities
Pt X · Ln 26
Who oversees it?
29
independent of 30 voting board members
Pt VI · Ln 1a–1b
Revenue
$14.7M
Spent
$11.7M
Net assets
$12.9M
By yearFY2020–FY2024
Revenue
$14.7M
FY2020
Revenue by fiscal year
FY2020$14.7M
FY2021$14.6M
FY2022$16.2M
FY2023$16.4M
FY2024$18.8M
Expenses
$11.7M
FY2020
Expenses by fiscal year
FY2020$11.7M
FY2021$13.6M
FY2022$14.3M
FY2023$15.5M
FY2024$17.6M
Net assets
$12.9M
FY2020
Net assets by fiscal year
FY2020$12.9M
FY2021$14.2M
FY2022$14.1M
FY2023$15.8M
FY2024$17.1M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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Status and standing

Is it real, and can you give to it?

Tax-deductible?
No
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CVisit Indy INC
EINHdr · item D35-0413010
Exempt statusHdr · item I501(c)(6) · active
Ruling yearIRS BMFAug 1946
Year of formationHdr · item L1932
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CIndianapolis, IN
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jwww.visitindy.com

Financial health

Is it on solid ground?

Operating surplus
+20%
revenue over expenses
Earned revenue
4%
of revenue from program services & dues
Payroll share
61%
of spending is salaries & benefits

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Total assets
$14.8M
FY2020
Total assets by fiscal year
FY2020$14.8M
FY2021$21.0M
FY2022$18.0M
FY2023$19.8M
FY2024$21.4M
Total liabilities
$1.8M
FY2020
Total liabilities by fiscal year
FY2020$1.8M
FY2021$6.8M
FY2022$3.9M
FY2023$4.0M
FY2024$4.4M
Revenue less expensesPt I · Ln 19$3.0M
Total assetsPt X · Ln 16$14.8M
Program-expense ratioPt IX · col B—
Voting members of governing bodyPt I · Ln 330
Independent voting membersPt I · Ln 429

Balance Sheet

Part X · end of year
CashLn 1$6.0M
Total assetsLn 16$14.8M
Total liabilitiesLn 26$1.8M
Total net assetsLn 32$12.9M
Months of cash on handcomputed6.1

Statement of Revenue

Part VIII
Contributions & grants$13.7M · 93%
Program service revenue$647K · 4%
Investment income$280K · 2%
Other revenue$75K · 1%
Contributions & grants93%$13.7M
Program service revenue4%$647K
Investment income2%$280K
Other revenue1%$75K
— government grantsLn 1e$11.7M
Total revenueLn 12$14.7M

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $14.1M · Operating expenses/yr $11.7M
14.5 months
Where the money goes
Program services
Program services — · Total expenses $11.7M
—
Management & General
Management & general — · Total expenses $11.7M
—
Fundraising
Fundraising — · Total expenses $11.7M
—
Cost to raise $1
Fundraising expense — · Solicited contributions —
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $13.7M · Total revenue $14.7M
93%
Government reliance
Government grants $11.7M · Total revenue $14.7M
80%
Earned-income share
Program service revenue $647K · Total revenue $14.7M
4%
Investment reliance
Investment income $280K · Total revenue $14.7M
+2%
Program self-sufficiency
Program service revenue $647K · Total expenses $11.7M
6%
Growth & trend
Revenue growth (YoY)
This year $14.7M · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $12.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $14.7M · Expenses $11.7M
+20%
Liabilities-to-Assets
Total liabilities — · Total assets $14.8M
—
Net-asset ratio
Net assets $12.9M · Total assets $14.8M
87%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $8.1M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $14.8M
55%
People & payroll
Highest Reported Total Compensation
Individual Leonard Hoops · Reported title PRESIDENT & CEO · Highest reported compensation $684K · Total expenses $11.7M
6%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $7.1M · Total expenses $11.7M
61%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Fundraising cost ratio 0%——
Investment management fee ratio 0.5%——
Legal fee ratio 0.3%——
Accounting fee ratio 0.4%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President & CEO
$683,579Pt VII · Sec A
SR. Vice President of Sale
$276,413Pt VII · Sec A
Executive Vice President
$272,918Pt VII · Sec A
SVP of Marketing & Communication
$224,231Pt VII · Sec A
VP of Market Intelligence
$212,213Pt VII · Sec A
SVP of Visitor Experience
$208,497Pt VII · Sec A
VP of Partner Relations
$193,354Pt VII · Sec A
Dir of Sales - East Coast
$140,755Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Leonard Hoops—$899,447$817,318$584,890$683,579
Leonard Hoops$804,384————
Daren Kingi—$409,077$356,100$256,858$276,413
Christopher Gahl—$398,900$322,423$203,970$224,231
James Wallis—$380,358$345,861$273,348$272,918
Christopher Gahl$378,400————
James Wallis$360,813————
Daren Kingi$353,276————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Governance & Policies

Part VI
  • 30Voting board membersPt VI · Ln 1a
  • 29Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Promotes Indianapolis tourism and economic growth by providing information and services to visitors and marketing the city as a premier travel destination.

Provided by the organization

This section is blank until Visit Indy INC claims this page.

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Mission & Programs · Part III

Where the work happens

3 program services, described in the organization's own filed words · FY2020.
01

Solicited and booked conventions, expositions, trade shows and other meetings and worked in conjunction with the staff of the indianapolis convention center on all conventions in that facility.

Pt IX · col B
02

Assisted the capital improvement board and marion county member businesses by marketing their facilities, products and services to visiting groups, individuals, and the leisure traveler.

Pt IX · col B
03

Assisted visitors by providing services and information.

Pt IX · col B

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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 · FY2019
Total grants receivedfrom 1 funder$5K

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Latest $18.8M$17.6M+15% 990 PDF
FY2023 $16.4M$15.5M+0.8% 990 PDF
FY2022 $16.2M$14.3M+11% 990 PDF
FY2021 $14.6M$13.6M-0.5% 990 PDF
FY2020 Viewing $14.7M$11.7M 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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