Civic Intelligence

Develop Indy Inc

990 • Fiscal year 2011 • EIN 26-1274009

Jan 01, 2011 to Dec 31, 2011 • Filed on Nov 13, 2012

111 Monument Circle46204
Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

92nd percentile

0.82x

Higher debt load relative to assets than 92% of similar nonprofits.

2011 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2011

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2011

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2011

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2011

Asset Growth

79th percentile

13%

Faster asset growth than 79% of similar nonprofits.

2011 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2010 to 2011

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Assets

Up

$7,704,048

Up $899,053 (+13%) from 2010

Net Assets

Up

$1,396,235

Up $88,314 (+6.8%) from 2010

Liabilities

Up

$6,307,813

Up $810,739 (+15%) from 2010

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$6,414,842

Up $3,679,952 (+135%) from 2010

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $6,804,995Liabilities 2010: $5,497,074Net Assets 2010: $1,307,9212010Assets 2011: $7,704,048Liabilities 2011: $6,307,813Net Assets 2011: $1,396,2352011Assets 2012: $235,730Liabilities 2012: $0Net Assets 2012: $235,7302012Assets 2013: $0Liabilities 2013: $0Net Assets 2013: $02013

Highlighted filing

2011

Assets$7,704,048
Liabilities$6,307,813
Net Assets$1,396,235

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,734,8902010Expenses 2011: $6,414,8422011Expenses 2012: $4,143,4852012Revenue 2013: $0Expenses 2013: $112,715Net Income 2013: -$112,7152013

Highlighted filing

2011

Revenue-
Expenses$6,414,842
Net Income-
Jump To
Filing Snapshot
Filing Period
Jan 1, 2011 to Dec 31, 2011
Signed
Nov 13, 2012
Return Version
2011v1.2
Gross Receipts
$6,503,156
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
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IRS990/Description0IN 2011, 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 11,538 JOB COMMITMENTS (4,470 NEW JOBS/7,068 RETAINED JOBS) AND $607 MILLION IN PRIVATE INVESTMENT FROM 64 COMPANIES. (CONTINUED ON SCHEDULE O)
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0THE ORGANIZATION HOLDS AN ESCROW ACCOUNT FOR ANGIE'S LIST, WHICH ARE FUNDS THAT ARE RESTRICTED AND CONTROLLED BY THE CITY OF INDIANAPOLIS. THE ORGANIZATION HOLDS AN ESCROW ACCOUNT FOR CHICAGO TITLE ESCROW, WHICH ARE FUNDS THAT ARE RESTRICTED AND CONTROLLED BY THE CITY OF INDIANAPOLIS.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1DEVELOP 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 2008. 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, 2011 AND 2010.
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier0Explanation of escrow agreement
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier1FIN 48 (ASC 740) footnote
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IRS990ScheduleF/AcctsActvsOutUSTable/Region0EAST ASIA AND THE PACIFIC
IRS990ScheduleF/AcctsActvsOutUSTable/Region1EUROPE (INCLUDING ICELAND AND GREENLAND)
IRS990ScheduleF/AcctsActvsOutUSTable/Region2SOUTH AMERICA
IRS990ScheduleF/AcctsActvsOutUSTable/SpecificServicesProvided0MARKETING INDIANAPOLIS, IN TO FOREIGN COMPANIES
IRS990ScheduleF/AcctsActvsOutUSTable/SpecificServicesProvided1MARKETING INDIANAPOLIS, IN TO FOREIGN COMPANIES
IRS990ScheduleF/AcctsActvsOutUSTable/SpecificServicesProvided2MARKETING INDIANAPOLIS TO FOREIGN COMPANIES
IRS990ScheduleF/AcctsActvsOutUSTable/TotalExpenditures071804
IRS990ScheduleF/AcctsActvsOutUSTable/TotalExpenditures16862
IRS990ScheduleF/AcctsActvsOutUSTable/TotalExpenditures210132
IRS990ScheduleF/AcctsActvsOutUSTable/TypeOfActivitiesConducted0PROGRAM SERVICES
IRS990ScheduleF/AcctsActvsOutUSTable/TypeOfActivitiesConducted1PROGRAM SERVICES
IRS990ScheduleF/AcctsActvsOutUSTable/TypeOfActivitiesConducted2PROGRAM SERVICES
IRS990ScheduleF/BoycottCountries0false
IRS990ScheduleF/ForeignPartnership0false
IRS990ScheduleF/Form990ScheduleFPartV/Explanation0EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL SOUTH AMERICA: ACCRUAL
IRS990ScheduleF/Form990ScheduleFPartV/Identifier0Method used to account for expenditures on organization's financial statements
IRS990ScheduleF/Form990ScheduleFPartV/ReturnReference0Schedule F, Part I, Line 3
IRS990ScheduleF/InterestInForeignTrust0false
IRS990ScheduleF/OwnForeignCorp0false
IRS990ScheduleF/PassiveForeignInvestCo0false
IRS990ScheduleF/TotalAmountSpent088798
IRS990ScheduleF/TotalNumberOfEmployees00
IRS990ScheduleF/TotalNumberOfOffices00
IRS990ScheduleF/TransferToForeignCorp0false
IRS990ScheduleI/Form990ScheduleIPartIV/Explanation0FUNDS ARE MONITORIED BY THE ORGANIZATION TO ENSURE THEY ARE USED FOR THE PURPOSES FOR WHICH THEY ARE DISBURSED.

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