Liabilities / Assets
89th percentile
Higher debt load relative to assets than 89% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.81x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Revenue Growth
Score unavailable
No valid filing value is available for this score.
Balance Sheet
Assets
$6,804,995
No earlier filing loaded for comparison.
Net Assets
$1,307,921
No earlier filing loaded for comparison.
Liabilities
$5,497,074
No earlier filing loaded for comparison.
Revenue And Expenses
Revenue
-
No earlier filing loaded for comparison.
Expenses
$2,734,890
No earlier filing loaded for comparison.
Net Income
-
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2010 to Dec 31, 2010
- Signed
- Nov 10, 2011
- Return Version
- 2010v3.2
- Gross Receipts
- $2,955,367
Mission and Program Overview
Mission
Develop indy is marion county's local economic development organization dedicated to providing business attraction, existing business retention, expansion and location services to indianapolis/marion county. In july 2012, the greater indianapolis chamber of commerce (chamber) acquired all operating activities of develop indy and the chamber board assumed control of the organization. The acquisition was agreed to by develop indy in a purchase agreement dated july 16, 2012. The chamber acquired develop indy in an effort to create synergies between the two entities for the continued economic development of the city of indianapolis. On november 22, 2013, develop indy dissolved and all remaining assets and liabilities were transferred to the chamber.
Filing and Contact Details
Filer
- EIN
- 26-1274009
Raw XML AppendixShowing 400 of 466 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/ActivityOrMissionDescription | 0 | DEVELOP INDY IS MARION COUNTY'S LOCAL ECONOMIC DEVELOPMENT ORGANIZATION DEDICATED TO PROVIDING BUSINESS ATTRACTION, EXISTING BUSINESS RETENTION, EXPANSION AND LOCATION SERVICES TO INDIANAPOLIS/MARION COUNTY. |
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| IRS990/Description | 0 | IN 2010, THE ECONOMIC DEVELOPMENT ACTIVITY OF THE CITY OF INDIANAPOLIS SURPASSED PREVIOUS YEARS DESPITE THE LINGERING NATIONAL ECONOMIC DOWNTURN. WITH THE ASSISTANCE FROM DEVELOP INDY, THE CITY SECURED 15,861 JOB COMMITMENTS (8,702 NEW JOBS/7,159 RETAINED JOBS) AND $933 MILLION IN PRIVATE INVESTMENT FROM 72 COMPANIES, RESULTING IN THE BEST YEAR-END TOTALS OF THE DECADE. FIFTY-TWO OF THE 71 SUCCESSFUL PROJECTS WERE WITH EXISTING INDIANAPOLIS BUSINESSES, 19 WERE COMPANIES NEW TO THE CITY. (CONTINUED ON SCHEDULE O) |
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| IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation | 0 | DEVELOP INDY IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE (CODE) AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. DEVELOP INDY HAS ADOPTED ACCOUNTING GUIDANCE RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. DEVELOP INDY HAS EXAMINED THIS ISSUE AND HAS DETERMINED THAT THERE ARE NO MATERIAL CONTINGENT TAX LIABILITIES OR QUESTIONABLE TAX POSITIONS. DEVELOP INDY IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR YEARS BEFORE 2007. DEVELOP INDY DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. DEVELOP INDY RECOGNIZES INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. DEVELOP INDY DID NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES AT DECEMBER 31, 2010 AND 2009. |
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| IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompRelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation | 0 | THE COMPENSATION OF THE PRESIDENT & CEO OF THE ORGANIZATION WAS PAID PART OF THE YEAR BY GREATER INDIANAPOLIS CHAMBER OF COMMERCE AND PART OF THE YEAR BY HUMAN CAPITAL CONCEPTS, LLC, A PROFESIONAL EMPLOYER ORGANIZATION, BOTH OF WHICH ARE UNRELATED ORGANIZATIONS. THE COMPENSATION WAS REIMBURSED TO THOSE ORGANIZATIONS BY DEVELOP INDY, INC. THE BOARD OF DIRECTORS OF DEVELOP INDY, INC. DETERMINES THE COMPENSATION OF THE PRESIDENT & CEO USING THE FOLLOWING: -FORMS 990 OF OTHER ORGANIZATIONS -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE |
| IRS990ScheduleJ/Form990ScheduleJPartIII/Identifier | 0 | COMPENSATION OF TOP MANAGEMENT OFFICIAL |
| IRS990ScheduleJ/Form990ScheduleJPartIII/ReturnReference | 0 | SCHEDULE J, PART I, LINE 3 |
| IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson | 0 | SCOTT MILLER |
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| IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationFilingOrg | 0 | 188331 |
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| IRS990ScheduleO/GeneralExplanation/Explanation | 0 | (CONTINUED FROM PART III, LINE 1) THE PURPOSES FOR WHICH THE CORPORATION IS FORMED ARE: -TO PROMOTE THE COMMON INTERESTS OF BUSINESSES AND TO IMPROVE GENERAL BUSINESS CONDITIONS IN MARION COUNTY BY PROMOTING, ENCOURAGING AND AIDING THE FORMATION, OPERATION, AND EXPANSION OF INDUSTRIAL, COMMERCIAL, OFFICE, RESIDENTIAL, MANUFACTURING, TRANSPORTATION AND LOGISTICS, LIFE SCIENCES, FINANCIAL, INSURANCE, SERVICE, SOFTWARE AND COMPUTING, HOSPITALITY, ENERGY, PROFESSIONAL AND OTHER BUSINESSES IN MARION COUNTY, AND TO DEVELOP AND ADMINISTER PROGRAMS TO ENCOURAGE EMPLOYERS TO LOCATE AND REMAIN IN MARION COUNTY; AND -IN FURTHERANCE OF THE AFORESAID PURPOSES, TO TRANSACT ANY AND ALL LAWFUL BUSINESS FOR WHICH CORPORATIONS MAY BE INCORPORATED UNDER THE ACT, PROVIDED SUCH BUSINESS IS NOT INCONSISTENT WITH THE CORPORATION BEING ORGANIZED AND OPERATED EXCLUSIVELY AS A BUSINESS LEAGUE. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 1 | (CONTINUED FROM PART III) ALTHOUGH COMPANIES FROM ALL DIFFERENT INDUSTRIES WERE REPRESENTED IN THE LIST OF SUCCESSFUL PROJECTS, THE CITY REMAINS FOCUSED ON SEVERAL TARGETED INDUSTRY CLUSTERS. THESE INCLUDE LIFE SCIENCES, ADVANCED MANUFACTURING, INFORMATION TECHNOLOGY, MOTORSPORTS, LOGISTICS, AND CLEAN TECH. COMPANIES IN THESE INDUSTRIES ACCOUNTED FOR MORE THAN 80% OF THE 2010 NEW JOB COMMITMENTS. THE GREATEST NUMBER OF NEW JOB COMMITMENTS CAME FROM THE LIFE SCIENCES INDUSTRY WITH 3,761, FOLLOWED BY INFORMATION TECHNOLOGY WITH 1,466, AND THE LOGISTICS INDUSTRY WITH 1,323. THE AVERAGE WAGE FOR NEW JOB COMMITMENTS WAS $23.81 PER HOUR, AS COMPARED TO $21.48 IN 2009. DEVELOP INDY ALSO SECURED COMMITMENTS FROM INDIANAPOLIS-BASED COMPANIES TO RETAIN 7,159 JOBS WITH AN AVERAGE WAGE OF $22.59 PER HOUR, AS COMPARED TO $21.83 IN 2009. THE GREATEST NUMBER OF RETAINED JOBS WAS IN THE LIFE SCIENCES INDUSTRY WITH 3,391 JOBS. THE SECOND AND THIRD HIGHEST NUMBERS OF RETAINED JOBS WERE IN ADVANCED MANUFACTURING WITH 1,168, AND LOGISTICS WITH 1,043. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 2 | DEVELOP INDY UPDATED THE ARTICLES OF INCORPORATION AND BYLAWS TO REFLECT THE NAME CHANGE FOR THE ORGANIZATION. THE NAME CHANGE WAS REFLECTED ON THE 2009 FORM 990 AND THE AMENDED ARTICLES OF INCORPORATION WERE ATTACHED TO THAT RETURN. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 3 | THE SOLE MEMBER IS THE MAYOR OF INDIANAPOLIS. NINE BOARD MEMBERS ARE APPOINTED BY THE MAYOR OF THE CITY OF INDIANAPOLIS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 4 | ALL BOARD MEMBERS ARE APPOINTED BY THE MAYOR OF THE CITY OF INDIANAPOLIS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 5 | THE FORM 990 IS REVIEWED IN DETAIL BY MANAGEMENT. IN ADDITION, A COPY OF THE FORM 990 IS PROVIDED TO EACH MEMBER OF THE BOARD BEFORE FILING WITH THE IRS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 6 | THE OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE REQUIRED TO ANNUALLY SIGN A CONFLICT OF INTEREST QUESTIONNAIRE. THE QUESTIONNAIRES ARE REVIEWED BY THE CHAIR OF THE BOARD. ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST ARE MONITORED BY THE CHAIR OF THE BOARD. IF ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST EXIST, THE BOARD MEMBER WITH THE CONFLICT IS REQUIRED TO ABSTAIN FROM VOTING ON MATTERS RELATED TO THE CONFLICT. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 7 | THE BOARD OF DIRECTORS ESTABLISHED A COMPENSATION COMMITTEE TO ESTABLISH THE COMPENSATION OF DEVELOP INDY'S CEO. THE ORGANIZATION USES FORM 990'S OF OTHER ORGANIZATIONS TO ENSURE THAT COMPENSATION IS REASONABLE. THIS PROCESS IS DOCUMENTED IN THE COMMITTEE MINUTES. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 8 | FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICIES ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE (IRC) SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 9 | THERE ARE NO OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION THAT RECEIVE COMPENSATION. THEREFORE, THIS QUESTION WAS MARKED "NO" PER THE FORM 990 INSTRUCTIONS. |
| IRS990ScheduleO/GeneralExplanation/Identifier | 0 | ORGANIZATION'S MISSION |
| IRS990ScheduleO/GeneralExplanation/Identifier | 1 | PROGRAM SERVICE DESCRIPTION |
| IRS990ScheduleO/GeneralExplanation/Identifier | 2 | Significant changes to organizational documents |
| IRS990ScheduleO/GeneralExplanation/Identifier | 3 | Classes of members or stockholders |
| IRS990ScheduleO/GeneralExplanation/Identifier | 4 | Members or stockholders electing members of governing body |
| IRS990ScheduleO/GeneralExplanation/Identifier | 5 | Review of form 990 by governing body |
| IRS990ScheduleO/GeneralExplanation/Identifier | 6 | Conflict of interest policy |
| IRS990ScheduleO/GeneralExplanation/Identifier | 7 | Process used to establish compensation of top management official |
| IRS990ScheduleO/GeneralExplanation/Identifier | 8 | Public Disclosure |
| IRS990ScheduleO/GeneralExplanation/Identifier | 9 | PROCESS FOR DETERMINING COMPENSATION OF OTHER OFFICERS |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 0 | FORM 990, PART III, LINE 1 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 1 | FORM 990, PART III, LINE 4A |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 2 | Form 990, Part VI, Section A, Line 4 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 3 | Form 990, Part VI, Section A, Line 6 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 4 | Form 990, Part VI, Section A, Line 7a |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 5 | Form 990, Part VI, Section B, Line 11b |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 6 | Form 990, Part VI, Section B, Line 12c |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 7 | Form 990, Part VI, Section B, Line 15a |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 8 | Form 990, Part VI, Section C, Line 19 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 9 | FORM 990, PART VI, SECTION B, LINE 15B |
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| IRS990/TheBooksAreInCareOf/AddressUS/AddressLine1 | 0 | 111 Monument Circle Ste 2450 |
| IRS990/TheBooksAreInCareOf/AddressUS/City | 0 | Indianapolis |
| IRS990/TheBooksAreInCareOf/AddressUS/State | 0 | IN |
| IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode | 0 | 46204 |
| IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine1 | 0 | Scott Miller |
| IRS990/TheBooksAreInCareOf/TelephoneNumber | 0 | 3178083230 |
| IRS990/TotalAssets/BOY | 0 | 1199682 |
| IRS990/TotalAssetsBOY | 0 | 1199682 |
| IRS990/TotalAssets/EOY | 0 | 6804995 |
| IRS990/TotalAssetsEOY | 0 | 6804995 |
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| IRS990/TotalContributions | 0 | 384784 |
| IRS990/TotalExpensesCurrentYear | 0 | 2734890 |
| IRS990/TotalExpensesPriorYear | 0 | 940139 |
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Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2010 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $6,804,995
- Liabilities
- $5,497,074
- Net assets
- $1,307,921
- Revenue
- -
- Expenses
- $2,734,890
- Net income
- -