Civic Intelligence

Carmel City Center Community Development Corporation

EIN 27-0982122 • 501(c)4 • Indianapolis, IN

Profile

Carmel City Center Community Development Corporation is operated exclusively to benefit, perform, and carry out the charitable, educational and recreational purposes of the City of Carmel, Indiana, as requested by the City.

3850 Priority Way South Drive 225Indianapolis, IN 46240
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

0.90x

Higher debt load relative to assets than 94% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

26.34x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Source year 2024

Net Margin

61st percentile

17%

Higher net margin than 61% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)4 • $10M-$25M nonprofits • Source year 2024

Asset Growth

22nd percentile

-1.8%

Faster asset growth than 22% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

89th percentile

218%

Faster revenue growth than 89% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$15,471,003

Down $286,193 (-1.8%) from 2023

Liabilities

Down

$13,900,037

Down $377,309 (-2.6%) from 2023

Net Assets

Up

$1,570,966

Up $91,116 (+6.2%) from 2023

Operations
Liabilities / Revenue99th percentileNet Margin61st percentile

Revenue

Up

$527,658

Up $361,685 (+218%) from 2023

Expenses

Down

$436,542

Down $183,181 (-30%) from 2023

Net Income

Up

$91,116

Up $544,866 (+120%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth22nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0Assets 2020: $8,366,216Liabilities 2020: $6,092,678Net Assets 2020: $2,273,5382020Assets 2021: $9,249,859Liabilities 2021: $6,105,972Net Assets 2021: $3,143,8872021Assets 2022: $16,327,739Liabilities 2022: $14,873,060Net Assets 2022: $1,454,6792022Assets 2023: $15,757,196Liabilities 2023: $14,277,346Net Assets 2023: $1,479,8502023Assets 2024: $15,471,003Liabilities 2024: $13,900,037Net Assets 2024: $1,570,9662024

Highlighted filing

2024

Assets$15,471,003
Liabilities$13,900,037
Net Assets$1,570,966
Open 2024 Filing

Operations Trend

Revenue Growth89th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2020: $653,636Expenses 2020: $423,893Net Income 2020: $229,7432020Revenue 2021: $1,315,248Expenses 2021: $444,899Net Income 2021: $870,3492021Revenue 2022: -$1,466,034Expenses 2022: $332,638Net Income 2022: -$1,798,6722022Revenue 2023: $165,973Expenses 2023: $619,723Net Income 2023: -$453,7502023Revenue 2024: $527,658Expenses 2024: $436,542Net Income 2024: $91,1162024

Highlighted filing

2024

Revenue$527,658
Expenses$436,542
Net Income$91,116
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$15,471,003
Liabilities
$13,900,037
Net assets
$1,570,966
Revenue
$527,658
Expenses
$436,542
Net income
$91,116
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.5$13.9$1.57$0.53$0.44$0.09
2023Detailed filing. Detailed filing data is available for this year.$15.8$14.3$1.48$0.17$0.62$0.45
2022Detailed filing. Detailed filing data is available for this year.$16.3$14.9$1.45$1.47$0.33$1.80
2021Detailed filing. Detailed filing data is available for this year.$9.25$6.11$3.14$1.32$0.44$0.87
2020Detailed filing. Detailed filing data is available for this year.$8.37$6.09$2.27$0.65$0.42$0.23
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 14, 2025
Return Version
2024v5.0
Gross Receipts
$1,245,698
Mission and Program Overview

Mission

Carmel City Center Community Development Corporation is operated exclusively to benefit, perform, and carry out the charitable, educational and recreational purposes of the City of Carmel, Indiana, as requested by the City.

Carmel City Center Community Development Corporation is operated exclusively to benefit, perform and carry out the charitable, educational, and recreational purposes of the City of Carmel, Indiana, as requested by the City.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$8,039,082$7,844,097▼ $194,985
Land, Buildings, and Equipment, Net$7,388,800$7,308,800▼ $80,000
Cash and Non-Interest-Bearing Accounts$66,294$110,044▲ $43,750
Prepaid Expenses and Deferred Charges$12,365$49,296▲ $36,931
Accounts Receivable$1,893$0▼ $1,893
Total Assets$15,757,196$15,471,003▼ $286,193
Other Assets Total$248,762$158,766▼ $89,996
Liabilities
Deferred Revenue$8,039,082$7,865,365▼ $173,717
Mortgage Notes Payable Secured by Investment Property$5,896,141$5,752,808▼ $143,333
Accounts Payable and Accrued Expenses$248,762$188,478▼ $60,284
Other Liabilities$93,361$93,386▲ $25
Total Liabilities$14,277,346$13,900,037▼ $377,309
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,479,850$1,570,966▲ $91,116
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$1,479,850$1,570,966▲ $91,116
Total Liabilities and Net Assets / Fund Balance$15,757,196$15,471,003▼ $286,193

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,048,400$317,600$0
Other Land Buildings$0$0$0
Land$260,400-$0
Equipment$0$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Ronald E CarterPresident
Cheryl WesselVice President
Darin BibeauBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Old Town on the MononLessor in sub-lease111 West Main Street, Carmel, IN 46032$113,105
Revenue and Support

Revenue Composition

Contributions and Grants
$78,720
Program Service Revenue
$0
Investment Income
$163
Other Revenue
$448,775
All Other Contributions
$78,720
Change in Net Assets
$91,116

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,166,978
Revenue Not Reported on Financial Statements
$-639,320
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-639,320
Total Revenue per Audited Statements
$1,166,978
Total Revenue per Form 990
$527,658
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$376,452
Grants and Similar Amounts Paid$60,090
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest-$247,224-$247,224
Depreciation Depletion-$80,000-$80,000
Grants to Domestic Orgs$60,090--$60,090
Fees for Services Accounting-$27,154-$27,154
Fees for Services Legal-$20,886-$20,886
Other Expenses$0$1,188$0$1,188
Total Functional Expenses$60,090$376,452$0$436,542

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,210,848
Expenses Not Reported on Form 990$852,468
Total Expenses per Form 990$436,542
Expenses per Audited Statements$358,380
Expenses Not Reported on Financial Statements$78,162
Other Expense Adjustments$78,162
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Indiana ArtisanIn, IN-Promote arts and design district$60,090
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposit$93,361
Miscellaneous Tenant Credit$25
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“This form was submitted for review to all board members before filing.”

Form 990, Part VI, Section B, Line 12C

“Compliance with written conflict of interest policies is by the oversight practices of the City of Carmel, Indiana.”

Form 990, Part VI, Section B, Line 15

“Staff support for Carmel City Center Community Development Corporation (4CDC) is provided by the City of Carmel, Indiana. Accordingly, 4CDC operates under the City of Carmel's policies regarding compensation decisions.”

Form 990, Part VI, Section C, Line 19

“These documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Carmel City Center Community Development Corporation
EIN
27-0982122
Phone
3178444605
Address
3850 Priority Way South Drive 225, Indianapolis, IN 46240

Signing Officer

Name
Darin Bibeau
Title
President
Phone
8008978481
Signed
2025-10-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Darin Bibeau
Formed
2009
Legal Domicile
In
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Craig S Ruby CPA
Address
1720 Duarte Dr, Henderson, NV 89014
Preparer
Craig Ruby
Phone
7254005727
Supplemental Narrative

Financial Statement Notes

Schedule D, Part XI, Line 4B

“Expenses totaling $718,040 per the audited financial statements were reported as contra-revenue on Form 990, Part VIII, line 6b and therefore included in total revenue on line 12. Grant revenue of $78,720 reported on Form 990, Part VIII, line 1f was recorded as a liability in the audited statements because the funding was classified as a loan at the time of the audit. The net effect of these adjustments is contra-revenue of $639,320, representing amounts included in Form 990 revenue but not in the audited financial statements.”

Schedule D, Part XII, Line 2D

“The total difference of $852,468 includes $718,040 of expenses reported as contra-revenue on Form 990, Part VIII, line 6b; $142,039 representing principal reduction on debt reported on the 990 as a reduction of liabilities rather than an expense; and $7,611 of rent expenses included in the audited financial statements but excluded from Form 990 reporting.”

Schedule D, Part XII, Line 4B

“The total difference of $78,162 consists of bank fees ($1,188), legal fees ($20,886), accounting fees ($27,154), and rent expense differences ($28,934). The bank, legal, and accounting fees were not included in the ACF. Certain rent expenses were also not included in the ACFR.”

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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt07048400
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0317600
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt07366000
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt00
IRS990ScheduleD/DonatedServicesUseFcltsAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt00
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/ExpensesNotReportedAmt0852468
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt078162
IRS990ScheduleD/ExpensesSubtotalAmt0358380
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt00
IRS990ScheduleD/InvestmentExpensesNotIncldAmt00
IRS990ScheduleD/LandGrp/BookValueAmt0260400
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0260400
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
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IRS990ScheduleD/LossesReportedAmt00
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IRS990ScheduleD/OtherExpensesIncludedAmt0852468
IRS990ScheduleD/OtherExpensesNotIncludedAmt078162
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IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt025
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt193361
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Miscellaneous Tenant Credit
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Security Deposit
IRS990ScheduleD/OtherRevenueAmt00
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-639320
IRS990ScheduleD/PriorYearAdjustmentsAmt00
IRS990ScheduleD/RecoveriesPriorYearGrantsAmt00
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-639320
IRS990ScheduleD/RevenueSubtotalAmt01166978
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Expenses totaling $718,040 per the audited financial statements were reported as contra-revenue on Form 990, Part VIII, line 6b and therefore included in total revenue on line 12. Grant revenue of $78,720 reported on Form 990, Part VIII, line 1f was recorded as a liability in the audited statements because the funding was classified as a loan at the time of the audit. The net effect of these adjustments is contra-revenue of $639,320, representing amounts included in Form 990 revenue but not in the audited financial statements.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The total difference of $852,468 includes $718,040 of expenses reported as contra-revenue on Form 990, Part VIII, line 6b; $142,039 representing principal reduction on debt reported on the 990 as a reduction of liabilities rather than an expense; and $7,611 of rent expenses included in the audited financial statements but excluded from Form 990 reporting.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2The total difference of $78,162 consists of bank fees ($1,188), legal fees ($20,886), accounting fees ($27,154), and rent expense differences ($28,934). The bank, legal, and accounting fees were not included in the ACF. Certain rent expenses were also not included in the ACFR.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part XI, Line 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part XII, Line 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule D, Part XII, Line 4b
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07308800
IRS990ScheduleD/TotalExpensesPerForm990Amt0436542
IRS990ScheduleD/TotalLiabilityAmt093386
IRS990ScheduleD/TotalRevenuePerForm990Amt0527658
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01166978
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01210848
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt060090
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Promote arts and design district
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Indiana Artisan
IRS990ScheduleI/RecipientTable/RecipientEIN0113717497
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt08 W Main St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine2Txt0Carmel
IRS990ScheduleI/RecipientTable/USAddress/CityNm0IN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd046032
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The organization's role regarding grants is restricted to approving the funds for disbursement.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule I, Part I, Line 2
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0This form was submitted for review to all board members before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Compliance with written conflict of interest policies is by the oversight practices of the City of Carmel, Indiana.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Staff support for Carmel City Center Community Development Corporation (4CDC) is provided by the City of Carmel, Indiana. Accordingly, 4CDC operates under the City of Carmel's policies regarding compensation decisions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3These documents are made available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt015757196
IRS990/TotalAssetsEOYAmt015471003
IRS990/TotalAssetsGrp/BOYAmt015757196
IRS990/TotalAssetsGrp/EOYAmt015471003
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt078720
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0376452
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt060090
IRS990/TotalFunctionalExpensesGrp/TotalAmt0436542
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014277346
IRS990/TotalLiabilitiesEOYAmt013900037
IRS990/TotalLiabilitiesGrp/BOYAmt014277346
IRS990/TotalLiabilitiesGrp/EOYAmt013900037
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01570966
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IRS990/TotalProgramServiceRevenueAmt00
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0448775
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/USAddress/AddressLine1Txt03850 Priority Way S Dr
IRS990/USAddress/AddressLine2Txt0225
IRS990/USAddress/CityNm0Indianapolis
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046240
IRS990/VotingMembersGoverningBodyCnt04
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ReasonableCauseExplanation/ExplanationTxt0Carmel City Center Community Development Corporation (4CDC) Filed Form 8868 with the IRS with a postage date of April 5, 2025. The Form 8868 was received by IRS on April 11, 2025, and extended the deadline to file Form 990 for 4CDC to November 15, 2025.
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Darin Bibeau
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum08008978481
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CARMEL CITY CENTER COMMUNITY DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0CARM
ReturnHeader/Filer/EIN0270982122
ReturnHeader/Filer/PhoneNum03178444605
ReturnHeader/Filer/USAddress/AddressLine1Txt03850 Priority Way South Drive 225
ReturnHeader/Filer/USAddress/CityNm0Indianapolis
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN

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