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Indianapolis Algebra Project Incorp FY2020 filing

Indianapolis, INUnknown exempt organization EIN 35-2073414Revenue $1K in FY2020Latest return filed Jan 12, 2023

On file with the IRSIndianapolis, IN

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Educational and college scholarship for math and science.

98¢ of each $1 spent went to programs.
$20K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $60K a year · 8171% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$20K
to officers and key staff · 20% of spending
Fine: pay to officers and key staff is 20% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
65 mo
of spending, in cash
Looks good: 65.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
−$925
-0.2% of total assets
Looks good: liabilities are -0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 7 voting members
Looks good: 5 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1K
Spent
$100K
To programs
98%
Net assets
$554K
By yearFY2020–FY2022
Revenue
$1K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1K
FY2021$12
FY2022$11K
Expenses
$100K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$100K
FY2021$21K
FY2022Not on file
Net assets
$554K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$554K
FY2021$533K
FY2022$474K

From the FY2020 Form 990 (year ending October 2020) · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

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% · $98K Management & general 2% · $2K

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

Something off? Claim to add context

Who runs it and what they're paid

7 people listed on the 990; $20K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Mary Ogle
Treasurer
$10,000Pt VII · Sec A
Terry Ogle
Executive Di
$10,000Pt VII · Sec A
Chalinda Anderson
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Lourdes Morales
Board Member
$0Pt VII · Sec A
Gail Rinwalt
President
$0Pt VII · Sec A
Faith Serf
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2021FY2020
Mary Ogle$5,000$10,000
Terry Ogle$5,000$10,000

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.

See Indianapolis Algebra Project Incorp executive salaries →

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

Provides scholarships for students pursuing math and science degrees.

Questions for Indianapolis Algebra Project Incorp

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1 program · $98K · in their own filed words · FY2019
01

College scholarships for math, science and technology

$98Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1K
Ln 12
Investment incomeLn 3$1K
Gifts and grantsLn 1h$62
Money outPt IX
$100K
Ln 25
Programscol B$98K
Managementcol C$2K
Owns and owesPt X
$554K
net assets · Ln 32
Cash and savingsLn 1–2$545K
Total assetsLn 16$554K
LiabilitiesLn 26−$925
PeoplePt VI, VII
7
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$62
Investment incomeLn 3$1K
Gains on assetsLn 7−$8K
Total revenueLn 12$1K
Assets in detailPt X, end of year
CashLn 1$529K
SavingsLn 2$17K
Cash and savings togetherLn 1–2$545K
Land, buildings, equipmentLn 10c$8K
Total assetsLn 16$554K
LiabilitiesLn 26−$925
Net assetsLn 32$554K
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderOctober
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$127K$545K
Land, buildings, equipmentLn 10c$29K$8K
Total assetsLn 16$653K$554K
LiabilitiesLn 26$0−$925
Net assetsLn 32$653K$554K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$20K$20K
Payroll taxesLn 10$2K$2K
Accounting feesLn 11c$2K$2K
Office expensesLn 13$30$30
OccupancyLn 16$3K$3K
Depreciation, depletion and amortizationLn 22$19K$19K
InsuranceLn 23$466$466
Other expenses (24a–d)Ln 24$53K$53K
All other expensesLn 24e$682$660$22
Total functional expensesLn 25$100K$98K$2K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 LatestFiled with the IRS Jan 12, 2023 $11K$474K 990 PDF
FY2021Filed with the IRS Jan 7, 2022 $12$21K−$21K$533K 990 PDF
FY2020 ViewingFiled with the IRS Mar 10, 2021 $1K$100K−$99K$554K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $1,457 revenue, 12 lines filed
I-8 Contributions and grants$62
I-9 Program service revenue$0
I-10 Investment income$1,395
I-11 Other revenue$0
I-12 Total revenue$1,457
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$21,530
I-16a Professional fundraising fees$0
I-17 Other expenses$78,534
I-18 Total expenses$100,064
I-19 Revenue less expenses−$98,607
Part VI · Governance 5 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,457 across 5 lines filed
VIII-1f All other contributions, gifts and grants$62
VIII-1h Total contributions, gifts and grants$62
VIII-3 Investment incomeRelated to mission $9,394$9,394
VIII-7 Net gain or loss on sales of assetsRelated to mission −$7,999−$7,999
VIII-12 Total revenueRelated to mission $1,395$1,457
Part IX · Statement of functional expenses $100,064 across 9 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $20,000$20,000
IX-10 Payroll taxesPrograms $1,530$1,530
IX-11c Accounting feesManagement $1,873$1,873
IX-13 Office expensesPrograms $30$30
IX-16 OccupancyPrograms $2,845$2,845
IX-22 Depreciation, depletion and amortizationPrograms $19,431$19,431
IX-23 InsurancePrograms $466$466
IX-24 Other expenses (24a–d)Programs $53,207$53,207
IX-24e All other expensesPrograms $660 · Management $22$682
IX-25 Total functional expensesPrograms $98,169 · Management $1,895 · Fundraising $0$100,064
Part X · Balance sheet $553,557 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $127,395$528,577
X-2 Savings and temporary cash investments$16,683
X-10c Land, buildings and equipment, netStart of year $28,517$8,297
X-16 Total assetsStart of year $653,089$553,557
X-25 Other liabilities−$925
X-26 Total liabilitiesStart of year $0−$925
X-27 Net assets without donor restrictionsStart of year $653,089$554,482
X-32 Total net assets or fund balancesStart of year $653,089$554,482
X-33 Total liabilities and net assetsStart of year $653,089$553,557
Part XI · Reconciliation of net assets $554,482 net assets at year end
XI-1 Total revenue$1,457
XI-2 Total expenses$100,064
XI-3 Revenue less expenses−$98,607
XI-4 Net assets at start of year$653,089
XI-10 Net assets at end of year$554,482

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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