Civic Intelligence

Indiana Institute for Medical

EIN 35-1781809 • 501(c)3 • Indianapolis, IN

Profile

To promote the research and educational mission of the richard l. Roudebush va medical center in indianapolis, indiana.

1481 West 10th Street 151Indianapolis, IN 46202-2803

iimr-indy.org

Siviq Scores

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

Liabilities / Assets

50th percentile

0.06x

Higher debt load relative to assets than 50% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

55th percentile

0.10x

Higher debt load relative to revenue than 55% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

7th percentile

-43%

Higher net margin than 7% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

97th percentile

$439,735

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 38.8% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

10th percentile

-20%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

17th percentile

-18%

Faster revenue growth than 17% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets50th percentile

Assets

Down

$1,852,852

Down $456,735 (-20%) from 2023

Liabilities

Down

$115,281

Down $26,098 (-18%) from 2023

Net Assets

Down

$1,737,571

Down $430,637 (-20%) from 2023

Operations
Liabilities / Revenue55th percentileNet Margin7th percentile

Revenue

Down

$1,134,304

Down $248,685 (-18%) from 2023

Expenses

Up

$1,626,361

Up $132,728 (+8.9%) from 2023

Net Income

Down

-$492,057

Down $381,413 (-345%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth10th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $2,818,008Liabilities 2011: $19,067Net Assets 2011: $2,798,9412011Assets 2012: $3,001,074Liabilities 2012: $32,573Net Assets 2012: $2,968,5012012Assets 2013: $2,910,664Liabilities 2013: $14,002Net Assets 2013: $2,896,6622013Assets 2014: $2,820,772Liabilities 2014: $14,232Net Assets 2014: $2,806,5402014Assets 2015: $2,962,510Liabilities 2015: $3,736Net Assets 2015: $2,958,7742015Assets 2016: $2,839,819Liabilities 2016: $34,574Net Assets 2016: $2,805,2452016Assets 2017: $2,657,199Liabilities 2017: $2,393Net Assets 2017: $2,654,8062017Assets 2018: $2,725,195Liabilities 2018: $18,338Net Assets 2018: $2,706,8572018Assets 2019: $2,947,514Liabilities 2019: $61,196Net Assets 2019: $2,886,3182019Assets 2020: $2,759,555Liabilities 2020: $30,958Net Assets 2020: $2,728,5972020Assets 2021: $2,711,887Liabilities 2021: $142,852Net Assets 2021: $2,569,0352021Assets 2022: $2,410,876Liabilities 2022: $171,618Net Assets 2022: $2,239,2582022Assets 2023: $2,309,587Liabilities 2023: $141,379Net Assets 2023: $2,168,2082023Assets 2024: $1,852,852Liabilities 2024: $115,281Net Assets 2024: $1,737,5712024

Highlighted filing

2024

Assets$1,852,852
Liabilities$115,281
Net Assets$1,737,571
Open 2024 Filing

Operations Trend

Revenue Growth17th percentile

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

$2.0M$1.0M$0-$1.0MExpenses 2011: $462,2292011Expenses 2012: $517,0082012Revenue 2013: $235,472Expenses 2013: $267,049Net Income 2013: -$31,5772013Revenue 2014: $258,596Expenses 2014: $326,779Net Income 2014: -$68,1832014Revenue 2015: $505,712Expenses 2015: $338,645Net Income 2015: $167,0672015Revenue 2016: $176,265Expenses 2016: $355,462Net Income 2016: -$179,1972016Revenue 2017: $278,835Expenses 2017: $400,511Net Income 2017: -$121,6762017Revenue 2018: $627,043Expenses 2018: $525,879Net Income 2018: $101,1642018Revenue 2019: $953,710Expenses 2019: $856,800Net Income 2019: $96,9102019Revenue 2020: $839,762Expenses 2020: $1,040,532Net Income 2020: -$200,7702020Revenue 2021: $1,140,954Expenses 2021: $1,239,302Net Income 2021: -$98,3482021Revenue 2022: $1,489,124Expenses 2022: $1,630,771Net Income 2022: -$141,6472022Revenue 2023: $1,382,989Expenses 2023: $1,493,633Net Income 2023: -$110,6442023Revenue 2024: $1,134,304Expenses 2024: $1,626,361Net Income 2024: -$492,0572024

Highlighted filing

2024

Revenue$1,134,304
Expenses$1,626,361
Net Income-$492,057
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$1,852,852
Liabilities
$115,281
Net assets
$1,737,571
Revenue
$1,134,304
Expenses
$1,626,361
Net income
-$492,057
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.85$0.12$1.74$1.13$1.63$0.49
2023Detailed filing. Detailed filing data is available for this year.$2.31$0.14$2.17$1.38$1.49$0.11
2022Detailed filing. Detailed filing data is available for this year.$2.41$0.17$2.24$1.49$1.63$0.14
2021Detailed filing. Detailed filing data is available for this year.$2.71$0.14$2.57$1.14$1.24$0.10
2020Detailed filing. Detailed filing data is available for this year.$2.76$0.03$2.73$0.84$1.04$0.20
2019Detailed filing. Detailed filing data is available for this year.$2.95$0.06$2.89$0.95$0.86$0.10
2018Detailed filing. Detailed filing data is available for this year.$2.73$0.02$2.71$0.63$0.53$0.10
2017Detailed filing. Detailed filing data is available for this year.$2.66$0.00$2.65$0.28$0.40$0.12
2016Detailed filing. Detailed filing data is available for this year.$2.84$0.03$2.81$0.18$0.36$0.18
2015Detailed filing. Detailed filing data is available for this year.$2.96$0.00$2.96$0.51$0.34$0.17
2014Detailed filing. Detailed filing data is available for this year.$2.82$0.01$2.81$0.26$0.33$0.07
2013Detailed filing. Detailed filing data is available for this year.$2.91$0.01$2.90$0.24$0.27$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.00$0.03$2.97$0.52
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.82$0.02$2.80$0.46
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 1, 2025
Return Version
2024v5.0
Gross Receipts
$1,134,304
Mission and Program Overview

Mission

To promote the research and educational mission of the richard l. Roudebush va medical center in indianapolis, indiana.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,637,728$1,470,087▼ $167,641
Cash and Non-Interest-Bearing Accounts$303,951$234,849▼ $69,102
Accounts Receivable$336,969$122,416▼ $214,553
Intangible Assets-$17,000-
Prepaid Expenses and Deferred Charges$3,362$3,420▲ $58
Total Assets$2,309,587$1,852,852▼ $456,735
Other Assets Total$27,577$5,080▼ $22,497
Liabilities
Accounts Payable and Accrued Expenses$141,379$115,281▼ $26,098
Total Liabilities$141,379$115,281▼ $26,098
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,766,834$1,687,259▼ $79,575
Net Assets With Donor Restrictions$401,374$50,312▼ $351,062
Total Net Assets Fund Balance$2,168,208$1,737,571▼ $430,637
Total Liabilities and Net Assets / Fund Balance$2,309,587$1,852,852▼ $456,735
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Timothy RamseyExecutive DiFT$180,412-$180,412
David Mathews MdDirector-$180,412$439,735$180,412
Elizabeth VerhagenAssoc Dir/coFT$157,724-$157,724
Eric Boss MdDirector-$157,724$373,412$157,724

Board Members and Trustees

NameTitle
Mary HardenChairman/sec
James Mohler PhdDirector
John MerriweatherDirector
Michael HershmanDirector
Suthat Liangpunsakul MdDirector
Tom Sharp MdDirector
Timothy RamseyExecutive Director
Elizabeth VerhagenAssoc Dir/controller

Highest Paid Contractors

ContractorServicesLocationCompensation
Jared FergusonConsulting4432 W 550 N, Worthington, IN 47471$131,901
Revenue and Support

Revenue Composition

Contributions and Grants
$1,089,735
Program Service Revenue
$0
Investment Income
$44,569
Other Revenue
$0
All Other Contributions
$1,089,735
Change in Net Assets
$-492,057

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,134,304
Revenue Not Reported on Form 990
$61,420
Total Revenue per Audited Statements
$1,195,724
Total Revenue per Form 990
$1,134,304
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,036,089
Salaries, Compensation, and Employee Benefits$590,272
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$84,446$282,572-$367,018
Current Officers, Directors, Trustees, and Key Employees-$180,412-$180,412
Payroll Taxes-$42,842-$42,842
Conferences and Meetings$11,006$1,834-$12,840
Fees for Services Other$2,578$9,769-$12,347
Fees for Services Accounting-$11,025-$11,025
Travel$8,024$1,875-$9,899
Other Expenses$720$6,750-$7,470
Depreciation Depletion-$7,000-$7,000
Insurance-$5,443-$5,443
Fees for Services Legal$3,720--$3,720
Office Expenses$3,483$232-$3,715
Information Technology-$2,457-$2,457
All Other Expenses$1,023$294-$1,317
Total Functional Expenses$997,166$629,195$0$1,626,361

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,626,361
Total Expenses per Audited Statements$1,626,361
Total Expenses per Form 990$1,626,361
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
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

“The form 990 will be provided to each director at the april board meeting for approval prior to filing with the internal revenue service.”

Form 990, Page 6, Part VI, Line 12C

“The institute consistently monitors and enforces compliance with the conflict of interest policy by being continuously monitored by the board of directors and discussed at board meetings. If conflicts arise prior to a meeting, they are reviewed and discussed among the board of directors through virtual meetings.”

Form 990, Page 6, Part VI, Line 15A

“The review process and approval of compensation of the executive director is reviewed and approved annually by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“The institute makes its governing documents, conflict of interest policy and financial statements available to the public upon request by mail or telephone.”

Form 990, Part VII

“Reasonable efforts by the organization were made to obtain and estimate compensation information from a related organization. Annual questionnaires detailing the requirements for part vii, section a are distributed to each board member.”

Filing and Contact Details

Filer

Filer Name
Indiana Institute for Medical
EIN
35-1781809
Phone
3179889544
Address
1481 WEST 10TH STREET 151, INDIANAPOLIS, IN 46202-2803
Doing Business As
Veterans Institute for Wellness

Signing Officer

Name
Timothy Ramsey
Title
Executive Director
Phone
3179889544
Signed
2025-04-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy Ramsey
Formed
1989
Legal Domicile
In
Voting Board Members
8
Independent Board Members
8
Employees
11
Volunteers
8

Preparer

Firm
L M Henderson & Company Llp
Address
450 E 96TH ST STE 200, INDIANAPOLIS, IN 46240-3797
Preparer
Michelle L Zimmerman
Phone
3175661000
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Management evaluates all tax positions taken or expected to be taken on its annual information returns, including the position that the institute continues to qualify to be treated as a section 501(c)(3) organization for both federal and state purposes. For the years ended december 31, 2024 and december 31, 2023, management does not feel it has taken any tax positions that would not be sustained under examination. Therefore, no interest or penalties have been accrued or charged to expense as of december 31, 2024 and december 31, 2023, or the periods then ended. The annual information returns for the institute are subject to examination by taxing authorities for a period of three years from the date they are filed.”

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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/ProgSrvcAccomActy2Grp/Desc0INDIANA INSTITUTE FOR MEDICAL RESEARCH SUPPORTS FACULTY, STAFF, AND PATIENT EDUCATION AT THE RICHARD L. ROUDEBUSH VA MEDICAL CENTER.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT EVALUATES ALL TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON ITS ANNUAL INFORMATION RETURNS, INCLUDING THE POSITION THAT THE INSTITUTE CONTINUES TO QUALIFY TO BE TREATED AS A SECTION 501(C)(3) ORGANIZATION FOR BOTH FEDERAL AND STATE PURPOSES. FOR THE YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023, MANAGEMENT DOES NOT FEEL IT HAS TAKEN ANY TAX POSITIONS THAT WOULD NOT BE SUSTAINED UNDER EXAMINATION. THEREFORE, NO INTEREST OR PENALTIES HAVE BEEN ACCRUED OR CHARGED TO EXPENSE AS OF DECEMBER 31, 2024 AND DECEMBER 31, 2023, OR THE PERIODS THEN ENDED. THE ANNUAL INFORMATION RETURNS FOR THE INSTITUTE ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR A PERIOD OF THREE YEARS FROM THE DATE THEY ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2MICHAEL HERSHMAN
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 WILL BE PROVIDED TO EACH DIRECTOR AT THE APRIL BOARD MEETING FOR APPROVAL PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE INSTITUTE CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY BEING CONTINUOUSLY MONITORED BY THE BOARD OF DIRECTORS AND DISCUSSED AT BOARD MEETINGS. IF CONFLICTS ARISE PRIOR TO A MEETING, THEY ARE REVIEWED AND DISCUSSED AMONG THE BOARD OF DIRECTORS THROUGH VIRTUAL MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE REVIEW PROCESS AND APPROVAL OF COMPENSATION OF THE EXECUTIVE DIRECTOR IS REVIEWED AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE INSTITUTE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST BY MAIL OR TELEPHONE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REASONABLE EFFORTS BY THE ORGANIZATION WERE MADE TO OBTAIN AND ESTIMATE COMPENSATION INFORMATION FROM A RELATED ORGANIZATION. ANNUAL QUESTIONNAIRES DETAILING THE REQUIREMENTS FOR PART VII, SECTION A ARE DISTRIBUTED TO EACH BOARD MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VII
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