Civic Intelligence

Madison Riverfront Development Madison Riverfront Development

990 • Fiscal year 2024 • EIN 35-1639867

Jan 01, 2024 to Dec 31, 2024 • Filed on Oct 15, 2025

Organization ProfileN/A
641 Green Road 1279Madison, IN 47250

(513) 213-5051

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.85x

Higher debt load relative to assets than 93% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

93rd percentile

0.60x

Higher debt load relative to revenue than 93% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

82nd percentile

30%

Higher net margin than 82% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

79th percentile

$0

Higher top officer pay than 79% of similar nonprofits.

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

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

78th percentile

30%

Faster asset growth than 78% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

12th percentile

-47%

Faster revenue growth than 12% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$275,250

Up $62,937 (+30%) from 2023

Net Assets

Up

$41,084

Up $123,746 (+150%) from 2023

Liabilities

Down

$234,166

Down $60,809 (-21%) from 2023

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin82nd percentile

Revenue

Down

$388,130

Down $348,382 (-47%) from 2023

Expenses

Down

$270,007

Down $1,383,479 (-84%) from 2023

Net Income

Up

$118,123

Up $1,035,097 (+113%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

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

$1.0M$500K$0-$500KAssets 2016: $301,897Liabilities 2016: $0Net Assets 2016: $301,8972016Assets 2017: $330,258Liabilities 2017: $0Net Assets 2017: $330,2582017Assets 2018: $392,060Liabilities 2018: $3,183Net Assets 2018: $388,8772018Assets 2019: $446,535Liabilities 2019: $1,866Net Assets 2019: $444,6692019Assets 2020: $271,581Liabilities 2020: $0Net Assets 2020: $271,5812020Assets 2021: $345,586Liabilities 2021: $0Net Assets 2021: $345,5862021Assets 2022: $824,156Liabilities 2022: $218Net Assets 2022: $823,9382022Assets 2023: $212,313Liabilities 2023: $294,975Net Assets 2023: -$82,6622023Assets 2024: $275,250Liabilities 2024: $234,166Net Assets 2024: $41,0842024

Highlighted filing

2024

Assets$275,250
Liabilities$234,166
Net Assets$41,084
Open 2024 Filing

Operations Trend

Revenue Growth12th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2016: $20,055Expenses 2016: $23,460Net Income 2016: -$3,4052016Revenue 2017: $135,301Expenses 2017: $106,940Net Income 2017: $28,3612017Revenue 2018: $117,406Expenses 2018: $58,787Net Income 2018: $58,6192018Revenue 2019: $124,353Expenses 2019: $68,561Net Income 2019: $55,7922019Revenue 2020: $77,948Expenses 2020: $251,036Net Income 2020: -$173,0882020Revenue 2021: $216,321Expenses 2021: $142,540Net Income 2021: $73,7812021Revenue 2022: $827,913Expenses 2022: $359,851Net Income 2022: $468,0622022Revenue 2023: $736,512Expenses 2023: $1,653,486Net Income 2023: -$916,9742023Revenue 2024: $388,130Expenses 2024: $270,007Net Income 2024: $118,1232024

Highlighted filing

2024

Revenue$388,130
Expenses$270,007
Net Income$118,123
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 15, 2025
Return Version
2024v5.0
Gross Receipts
$388,130
Mission and Program Overview

Mission

The organization provides funding to several business projects located within the zone area. This includes the current project of the riverfront development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$101,240$102,516▲ $1,276
Cash and Non-Interest-Bearing Accounts$32,086$84,512▲ $52,426
Rtn Earn Endowment Incm Other Fnds$-82,662$41,084▲ $123,746
Accounts Receivable$-3,250$-2,900▲ $350
Total Assets$212,313$275,250▲ $62,937
Other Assets Total$82,237$91,122▲ $8,885
Liabilities
Other Liabilities$289,671$225,325▼ $64,346
Accounts Payable and Accrued Expenses$5,304$8,841▲ $3,537
Total Liabilities$294,975$234,166▼ $60,809
Net Assets / Fund Balance
Total Net Assets Fund Balance$-82,662$41,084▲ $123,746
Total Liabilities and Net Assets / Fund Balance$212,313$275,250▲ $62,937

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$91,122--
Compensation and Service Providers
Top Officer Pay79th percentile

Board Members and Trustees

NameTitle
James D PruettChairman
John BrunsVice-chairma
Bob WallDirector
Jeanie StottsDirector
Josh KunzeDirector
Kirk GroomsDirector
Jd WebsterSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$196,398
Program Service Revenue
$186,980
Investment Income
$4,752
Other Revenue
$0
All Other Contributions
$196,398
Change in Net Assets
$118,123
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$270,007
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest-$16,544-$16,544
Fees for Services Accounting$11,700--$11,700
Insurance-$2,790-$2,790
Occupancy-$2,364-$2,364
Office Expenses$1,985--$1,985
Advertising$1,142--$1,142
Conferences and Meetings-$834-$834
Other Expenses$400$265-$265
Total Functional Expenses$247,210$22,797$0$270,007
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
German American Bank$225,325
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990, part vi, line 11b - organization's process to review form 990 chairman or treasurer reviews & signs return. Form 990, part vi, line 19 - governing documents disclosure explanation documents available upon request.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Madison Riverfront Development
EIN
35-1639867
Phone
5132135051
Address
641 GREEN ROAD 1279, MADISON, IN 47250

Signing Officer

Name
James D Pruett
Title
Chairman
Phone
5132135051
Signed
2025-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James D Pruett
Formed
1985
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Mckay Accounting Service LLC
Address
412 E MAIN ST, MADISON, IN 47250-3539
Preparer
Melinda S Cloud-thevenow
Phone
8122654623
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Economic development of the riverfront through events held on the riverfront and improvements made to the riverfront.”

Raw XML Appendix326 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990, PART VI, LINE 11B - ORGANIZATION'S PROCESS TO REVIEW FORM 990 CHAIRMAN OR TREASURER REVIEWS & SIGNS RETURN. FORM 990, PART VI, LINE 19 - GOVERNING DOCUMENTS DISCLOSURE EXPLANATION DOCUMENTS AVAILABLE UPON REQUEST.
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0275250
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0123 CENTRAL AVE
IRS990/USAddress/CityNm0MADISON
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047250
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES D PRUETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum05132135051
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MADISON RIVERFRONT DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0MADISON RIVERFRONT DEVELOPMENT
ReturnHeader/Filer/BusinessNameControlTxt0MADI
ReturnHeader/Filer/EIN0351639867
ReturnHeader/Filer/PhoneNum05132135051
ReturnHeader/Filer/USAddress/AddressLine1Txt0641 GREEN ROAD 1279
ReturnHeader/Filer/USAddress/CityNm0MADISON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd047250
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0901509288
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCKAY ACCOUNTING SERVICE LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0412 E MAIN ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MADISON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0472503539
ReturnHeader/PreparerPersonGrp/PhoneNum08122654623
ReturnHeader/PreparerPersonGrp/PreparationDt02025-10-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MELINDA S CLOUD-THEVENOW
ReturnHeader/ReturnTs02025-10-15T14:29:44-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$275,250
Liabilities
$234,166
Net assets
$41,084
Revenue
$388,130
Expenses
$270,007
Net income
$118,123
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.28$0.23$0.04$0.39$0.27$0.12
2023Detailed filing. Detailed filing data is available for this year.$0.21$0.29$0.08$0.74$1.65$0.92
2022Detailed filing. Detailed filing data is available for this year.$0.82$0.00$0.82$0.83$0.36$0.47
2021Detailed filing. Detailed filing data is available for this year.$0.35$0.00$0.35$0.22$0.14$0.07
2020Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.27$0.08$0.25$0.17
2019Detailed filing. Detailed filing data is available for this year.$0.45$0.00$0.44$0.12$0.07$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.39$0.00$0.39$0.12$0.06$0.06
2017Detailed filing. Detailed filing data is available for this year.$0.33$0.00$0.33$0.14$0.11$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.30$0.00$0.30$0.02$0.02$0.00