Renew Indianapolis INC

Tax-deductible

Indianapolis, IN501(c)(3)HousingEIN 35-1704590

Renew indianapolis, INC is a non-profit community development corporation that builds resilient and inclusive neighborhoods through comprehensive community development that offer access to high-quality housing, economic prosperity, and social opportunities for all residents regardless of income.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
$760K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $1.9M a year · 30% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$760K
to officers and key staff · 16% of spending
Top officer’s pay higher than 86% of similar orgs
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
24 mo
of spending, in cash
Looks good: 24.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $15.0M
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$17.0M
41% of total assets
Looks good: liabilities are 41% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.6M
-37% vs prior year
Spent
$4.8M
To programs
76%
Net assets
$24.3M
By yearFY2021–FY2024
Revenue
$3.6M
FY2024▼ -37%
Revenue by fiscal year
FY2021$7.5M
FY2022$8.2M
FY2023$5.6M
FY2024$3.6M
Expenses
$4.8M
FY2024▲ +7%
Expenses by fiscal year
FY2021$2.9M
FY2022$5.3M
FY2023$4.5M
FY2024$4.8M
Net assets
$24.3M
FY2024▼ -4%
Net assets by fiscal year
FY2021$21.3M
FY2022$24.2M
FY2023$25.4M
FY2024$24.3M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1990.

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

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $3.7M Management & general 21% · $989K Fundraising 3% · $152K

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

Who runs it and what they're paid

17 people listed on the 990; $760K paid to officers and key staff.

Part VII, Section A · reportable compensation
Chief Executive Officer, Bod Chair
$195,928Pt VII · Sec A
$180,384Pt VII · Sec A
Director of Real Estate De
$138,315Pt VII · Sec A
$132,882Pt VII · Sec A
Director of Build Fund
$112,782Pt VII · Sec A
Bod Vice-Chair
$0Pt VII · Sec A
Bod Secretary
$0Pt VII · Sec A
Bod Treasurer
$0Pt VII · Sec A

Steven Meyer’s $196K as Chief Executive Officer, Bod Chair is at the 86th percentile of top reported officer pay among 2036 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 7 named individuals · Part VII

NameFY2024FY2023FY2022FY2021
Steven Meyer$195,928$187,122$180,126$160,000
Stephanie Quick$180,384$174,955$125,991—
Benjamin Harris$138,315$121,483——
Alexander Ervin$132,882$114,622——
Evan Tester—$119,139$109,683—
Devin Day$112,782———
Dawn Lindsey——$103,508—

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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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 15aYes

Programs and updates

Builds resilient neighborhoods with housing, economic, and social opportunities for all residents.

Provided by the organization

This section is blank until Renew Indianapolis INC claims this page.

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3 program services account for $3.0M of program spending, described in the organization's own filed words · FY2024.
01

In 2024, affordable homematters invested $6,175,230.82 in affordable housing development, awarding 30 construction contracts. The program completed 20 new construction homes and rehabilitated 10 single-family residences, serving 30 homebuyers in designated opportunity areas.

$1.4Mprogram expense
02

Through its build fund, intend indiana made 15 loans totaling $3,134,135.20 to small businesses, impacting communities throughout indiana during 2024. Build fund also provided small business technical assistance to 229 potential clients.

$1.4Mprogram expense
03

Through its edge fund, intend indiana closed 15 homepower fixed rate 0% interest loans in 2024 to buyers under 80% of the area median income. Loans totaled $710,300.

$208Kprogram expense

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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 · received and paid
Grants received · FY2024
See all 6 funders →
Grants paid · 1 grant · $10K · 2023–2023

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$3.6M
Ln 12
Gifts and grantsLn 1h$2.4M
Fees for servicesLn 2g$600K
Investment incomeLn 3$592K
Money outPt IX
$4.8M
Ln 25
Programscol B$3.7M
Managementcol C$989K
Fundraisingcol D$152K
Owns and owesPt X
$24.3M
net assets · Ln 32
Cash and savingsLn 1–2$9.8M
Total assetsLn 16$41.3M
LiabilitiesLn 26$17.0M
PeoplePt VI, VII
17
listed · VII A
PaidVII A5
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.4M
Government grantsLn 1e$1.2M
Noncash giftsLn 1g$2K
Fees for servicesLn 2g$600K
Investment incomeLn 3$592K
Other incomeLn 4–11$10K
Gains on assetsLn 7−$563K
Total revenueLn 12$3.6M
Assets in detailPt X, end of year
CashLn 1$3.9M
SavingsLn 2$5.9M
Cash and savings togetherLn 1–2$9.8M
InvestmentsLn 11–13$8.5M
Land, buildings, equipmentLn 10c$552K
Other assetsLn 15$623K
Total assetsLn 16$41.3M
LiabilitiesLn 26$17.0M
Net assetsLn 32$24.3M
OperationsPt I, VI
EmployeesI 517
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$5.3M$9.8M
InvestmentsLn 11–13$3.9M$8.5M
Land, buildings, equipmentLn 10c$492K$552K
Total assetsLn 16$31.1M$41.3M
LiabilitiesLn 26$5.7M$17.0M
Net assetsLn 32$25.4M$24.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$29K$29K
Pay of current officers, directors and key staffLn 5$569K$398K$148K$23K
Other salaries and wagesLn 7$1.2M$859K$315K$56K
Other employee benefitsLn 9$180K$127K$45K$9K
Payroll taxesLn 10$142K$99K$36K$6K
Legal feesLn 11b$21K$14K$7K
Accounting feesLn 11c$51K$51K
Investment management feesLn 11f$12K$12K
Other fees for servicesLn 11g$481K$342K$106K$33K
Advertising and promotionLn 12$77K$41K$33K$3K
Office expensesLn 13$230K$173K$51K$6K
Information technologyLn 14$73K$55K$15K$3K
OccupancyLn 16$95K$90K$4K$805
TravelLn 17$37K$27K$10K$554
Conferences, conventions and meetingsLn 19$10K$3K$7K$31
InterestLn 20$449K$422K$20K$7K
Depreciation, depletion and amortizationLn 22$40K$28K$12K
InsuranceLn 23$113K$34K$77K$2K
Other expenses (24a–d)Ln 24$863K$834K$26K$3K
All other expensesLn 24e$90K$77K$13K$292
Total functional expensesLn 25$4.8M$3.7M$989K$152K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $3.6M$4.8M−$1.2M$24.3M 990 PDF
FY2023 $5.6M$4.5M$1.1M$25.4M 990 PDF
FY2022 $8.2M$5.3M$2.9M$24.2M 990 PDF
FY2021 $7.5M$2.9M$4.6M$21.3M 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 (4 parts)
Part VIII · Statement of revenue $3,557,663 across 9 lines filed
VIII-1e Government grants$1,154,943
VIII-1f All other contributions, gifts and grants$1,200,010
VIII-1g Noncash contributions (included above)$1,713
VIII-1h Total contributions, gifts and grants$2,354,953
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $600,284$600,284
VIII-3 Investment incomeRelated to mission $787,049 · Excluded from tax $368,614$1,155,663
VIII-7 Net gain or loss on sales of assetsRelated to mission −$563,237−$563,237
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $10,000$10,000
VIII-12 Total revenueRelated to mission $834,096 · Unrelated business $0 · Excluded from tax $368,614$3,557,663
Part IX · Statement of functional expenses $4,793,349 across 20 lines filed
IX-1 Grants to domestic organizationsPrograms $28,882$28,882
IX-5 Pay of current officers, directors and key staffPrograms $398,358 · Management $147,962 · Fundraising $22,763$569,083
IX-7 Other salaries and wagesPrograms $858,867 · Management $315,371 · Fundraising $55,690$1,229,928
IX-9 Other employee benefitsPrograms $126,952 · Management $44,612 · Fundraising $8,592$180,156
IX-10 Payroll taxesPrograms $99,479 · Management $36,315 · Fundraising $6,251$142,045
IX-11b Legal feesPrograms $13,762 · Management $7,391$21,153
IX-11c Accounting feesManagement $50,860$50,860
IX-11f Investment management feesManagement $12,224$12,224
IX-11g Other fees for servicesPrograms $342,304 · Management $106,062 · Fundraising $32,701$481,067
IX-12 Advertising and promotionPrograms $40,877 · Management $33,244 · Fundraising $3,063$77,184
IX-13 Office expensesPrograms $173,182 · Management $50,750 · Fundraising $6,402$230,334
IX-14 Information technologyPrograms $55,281 · Management $14,910 · Fundraising $3,264$73,455
IX-16 OccupancyPrograms $90,148 · Management $4,393 · Fundraising $805$95,346
IX-17 TravelPrograms $26,538 · Management $10,080 · Fundraising $554$37,172
IX-19 Conferences, conventions and meetingsPrograms $3,303 · Management $7,114 · Fundraising $31$10,448
IX-20 InterestPrograms $422,081 · Management $19,720 · Fundraising $6,982$448,783
IX-22 Depreciation, depletion and amortizationPrograms $28,114 · Management $11,535$39,649
IX-23 InsurancePrograms $33,525 · Management $77,453 · Fundraising $1,664$112,642
IX-24 Other expenses (24a–d)Programs $834,190 · Management $25,836 · Fundraising $2,575$862,601
IX-24e All other expensesPrograms $77,020 · Management $13,025 · Fundraising $292$90,337
IX-25 Total functional expensesPrograms $3,652,863 · Management $988,857 · Fundraising $151,629$4,793,349
Part X · Balance sheet $41,310,045 assets, 18 lines filed
Asset lines not itemized here account for $20,433,584; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $5,345,120$3,902,190
X-2 Savings and temporary cash investments$5,861,183
X-3 Pledges and grants receivableStart of year $1,029,090$1,369,544
X-4 Accounts receivableStart of year $418,020$20,356
X-9 Prepaid expenses and deferred chargesStart of year $76,723$91,386
X-10c Land, buildings and equipment, netStart of year $491,897$552,476
X-11 Publicly traded securitiesStart of year $1,626,978$1,856,177
X-12 Other securities$3,459,500
X-13 Program-related investmentsStart of year $2,286,718$3,140,776
X-15 Other assetsStart of year $171,251$622,873
X-16 Total assetsStart of year $31,069,679$41,310,045
X-17 Accounts payable and accrued expensesStart of year $840,016$579,901
X-25 Other liabilitiesStart of year $1,248,916$4,396,369
X-26 Total liabilitiesStart of year $5,705,811$17,036,785
X-27 Net assets without donor restrictionsStart of year $25,073,535$24,256,916
X-28 Net assets with donor restrictionsStart of year $290,333$16,344
X-32 Total net assets or fund balancesStart of year $25,363,868$24,273,260
X-33 Total liabilities and net assetsStart of year $31,069,679$41,310,045
Part XI · Reconciliation of net assets $24,273,260 net assets at year end
XI-1 Total revenue$3,557,663
XI-2 Total expenses$4,793,349
XI-3 Revenue less expenses−$1,235,686
XI-4 Net assets at start of year$25,363,868
XI-5 Net unrealized gains (losses) on investments$145,078
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$24,273,260

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

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