Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2022.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
3 people listed on the 990; $150K paid to officers and key staff.
Paul Mitchell’s $150K as President/Ce is at the 64th percentile of top reported officer pay among 1842 $1–10M recreation & sports 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 · 1 named individual · Part VII
| Name | FY2024 | FY2023 | FY2022 |
|---|---|---|---|
| Paul Mitchell | $150,000 | $112,500 | $62,500 |
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 Indy Innovation Challenge INC 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 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Challenges students globally to invent and prove new automated vehicle software for self-driving racecars.
Questions for Indy Innovation Challenge INC
Your first name shows with your question. Indy Innovation Challenge INC answers here, for everyone.
Establish indiana as the global hub of performance automation industry and to attract and grow operations of indy innovation challenge via corporate sponsors and university teams all over the united states.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $569K | $218K |
| InvestmentsLn 11–13 | $500 | |
| Land, buildings, equipmentLn 10c | $101K | |
| Total assetsLn 16 | $1.3M | $691K |
| LiabilitiesLn 26 | $1.1M | $1.2M |
| Net assetsLn 32 | $252K | −$466K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants and assistance to foreign recipientsLn 3 | $4K | |||
| Pay of current officers, directors and key staffLn 5 | $150K | |||
| Other salaries and wagesLn 7 | $204K | |||
| Legal feesLn 11b | $70K | |||
| Accounting feesLn 11c | $41K | |||
| Other fees for servicesLn 11g | $868K | |||
| Advertising and promotionLn 12 | $465K | |||
| Office expensesLn 13 | $34K | |||
| Information technologyLn 14 | $21K | |||
| OccupancyLn 16 | $167K | |||
| TravelLn 17 | $604K | |||
| InterestLn 20 | $3K | |||
| Depreciation, depletion and amortizationLn 22 | $7K | |||
| InsuranceLn 23 | $92K | |||
| Other expenses (24a–d)Ln 24 | $4.1M | |||
| Total functional expensesLn 25 | $6.8M | $0 | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest ViewingFiled with the IRS Nov 17, 2025 | $6.1M | $6.8M | −$718K | −$466K | 990 PDF |
| FY2023Filed with the IRS Aug 8, 2024 | $5.2M | $5.0M | $208K | $252K | 990 PDF |
| FY2022Filed with the IRS Nov 22, 2024 | $9.7M | $9.7M | $45K | $45K | 990 PDF |
Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $6,131,279 revenue, 12 lines filed
Part VI · Governance 2 of 3 board members independent, 5 to look at
Part VIII · Statement of revenue $6,131,279 across 4 lines filed
Part IX · Statement of functional expenses $6,849,254 across 15 lines filed
Part X · Balance sheet $691,269 assets, 10 lines filed
Part XI · Reconciliation of net assets −$465,735 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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