Civic Intelligence

Madison Riverfront Development Corporation

990 • Fiscal year 2023 • EIN 35-1639867

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

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

96th percentile

1.39x

Higher debt load relative to assets than 96% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

84th percentile

0.40x

Higher debt load relative to revenue than 84% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

3rd percentile

-125%

Higher net margin than 3% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

1st percentile

-74%

Faster asset growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

24th percentile

-11%

Faster revenue growth than 24% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$212,313

Down $611,843 (-74%) from 2022

Net Assets

Down

-$82,662

Down $906,600 (-110%) from 2022

Liabilities

Up

$294,975

Up $294,757 (+135210%) from 2022

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin3rd percentile

Revenue

Down

$736,512

Down $91,401 (-11%) from 2022

Expenses

Up

$1,653,486

Up $1,293,635 (+359%) from 2022

Net Income

Down

-$916,974

Down $1,385,036 (-296%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth1st 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

2023

Assets$212,313
Liabilities$294,975
Net Assets-$82,662
Open 2023 Filing

Operations Trend

Revenue Growth24th 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

2023

Revenue$736,512
Expenses$1,653,486
Net Income-$916,974
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.0
Gross Receipts
$736,512
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$748,216$101,240▼ $646,976
Cash and Non-Interest-Bearing Accounts$1,380$32,086▲ $30,706
Accounts Receivable-$-3,250-
Rtn Earn Endowment Incm Other Fnds$823,938$-82,662▼ $906,600
Total Assets$824,156$212,313▼ $611,843
Other Assets Total$74,560$82,237▲ $7,677
Liabilities
Other Liabilities-$289,671-
Accounts Payable and Accrued Expenses$218$5,304▲ $5,086
Total Liabilities$218$294,975▲ $294,757
Net Assets / Fund Balance
Total Net Assets Fund Balance$823,938$-82,662▼ $906,600
Total Liabilities and Net Assets / Fund Balance$824,156$212,313▼ $611,843

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$190--
Compensation and Service Providers
Top Officer Pay54th 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
$570,063
Program Service Revenue
$163,140
Investment Income
$3,309
Other Revenue
$0
All Other Contributions
$104,259
Change in Net Assets
$-916,974
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,653,486
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-$6,297-$6,297
Fees for Services Accounting$4,200--$4,200
Fees for Services Legal$4,000--$4,000
Occupancy-$2,075-$2,075
Insurance-$1,695-$1,695
Office Expenses$1,564--$1,564
Advertising$1,246--$1,246
Conferences and Meetings-$573-$573
Other Expenses$584$487-$487
Total Functional Expenses$1,642,359$11,127$0$1,653,486
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$289,671
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
2024-11-15
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 Appendix329 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/TotalProgramServiceRevenueAmt0163140
IRS990/TotalRevenueGrp/ExclusionAmt03309
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0163140
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0736512
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0824156
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0212313
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/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES D PRUETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum05132135051
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-15
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/PreparationDt02024-11-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MELINDA S CLOUD-THEVENOW
ReturnHeader/ReturnTs02024-11-05T15:11:18-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$212,313
Liabilities
$294,975
Net assets
-$82,662
Revenue
$736,512
Expenses
$1,653,486
Net income
-$916,974
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$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