Civic Intelligence

Muncie Innovation Connector Inc.

990 • Fiscal year 2020 • EIN 35-2216589

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 11, 2021

1208 West White River BlvdMuncie, IN 47303

(765) 285-4900

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.55x

Higher debt load relative to assets than 83% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

91st percentile

2.33x

Higher debt load relative to revenue than 91% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

33rd percentile

-1.6%

Higher net margin than 33% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

82nd percentile

$143,456

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 19.7% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

52nd percentile

6.6%

Faster asset growth than 52% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

93rd percentile

100%

Faster revenue growth than 93% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$3,118,979

Up $192,689 (+6.6%) from 2019

Net Assets

Down

$1,416,568

Down $12,007 (-0.8%) from 2019

Liabilities

Up

$1,702,411

Up $204,696 (+14%) from 2019

Revenue

Up

$729,945

Up $364,952 (+100%) from 2019

Expenses

Down

$741,952

Down $8,761 (-1.2%) from 2019

Net Income

Up

-$12,007

Up $373,713 (+97%) from 2019

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $3,419,765Liabilities 2010: $1,681,685Net Assets 2010: $1,738,0802010Assets 2011: $3,326,867Liabilities 2011: $1,656,178Net Assets 2011: $1,670,6892011Assets 2012: $3,195,558Liabilities 2012: $1,616,157Net Assets 2012: $1,579,4012012Assets 2013: $3,077,052Liabilities 2013: $1,577,688Net Assets 2013: $1,499,3642013Assets 2014: $2,894,245Liabilities 2014: $1,581,298Net Assets 2014: $1,312,9472014Assets 2015: $3,351,863Liabilities 2015: $1,559,168Net Assets 2015: $1,792,6952015Assets 2016: $3,655,476Liabilities 2016: $1,572,562Net Assets 2016: $2,082,9142016Assets 2017: $3,888,638Liabilities 2017: $1,609,471Net Assets 2017: $2,279,1672017Assets 2018: $3,359,644Liabilities 2018: $1,545,349Net Assets 2018: $1,814,2952018Assets 2019: $2,926,290Liabilities 2019: $1,497,715Net Assets 2019: $1,428,5752019Assets 2020: $3,118,979Liabilities 2020: $1,702,411Net Assets 2020: $1,416,5682020Assets 2021: $3,188,598Liabilities 2021: $1,902,468Net Assets 2021: $1,286,1302021Assets 2022: $2,809,355Liabilities 2022: $1,510,592Net Assets 2022: $1,298,7632022Assets 2023: $2,613,180Liabilities 2023: $1,432,646Net Assets 2023: $1,180,5342023Assets 2024: $2,665,640Liabilities 2024: $1,367,207Net Assets 2024: $1,298,4332024

Highlighted filing

2020

Assets$3,118,979
Liabilities$1,702,411
Net Assets$1,416,568

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $574,1842010Expenses 2011: $499,3522011Expenses 2012: $512,3362012Revenue 2013: $447,362Expenses 2013: $527,399Net Income 2013: -$80,0372013Revenue 2014: $439,844Expenses 2014: $626,260Net Income 2014: -$186,4162014Revenue 2015: $1,148,812Expenses 2015: $669,064Net Income 2015: $479,7482015Revenue 2016: $967,495Expenses 2016: $677,276Net Income 2016: $290,2192016Revenue 2017: $912,229Expenses 2017: $715,976Net Income 2017: $196,2532017Revenue 2018: $270,893Expenses 2018: $735,765Net Income 2018: -$464,8722018Revenue 2019: $364,993Expenses 2019: $750,713Net Income 2019: -$385,7202019Revenue 2020: $729,945Expenses 2020: $741,952Net Income 2020: -$12,0072020Revenue 2021: $740,491Expenses 2021: $870,929Net Income 2021: -$130,4382021Revenue 2022: $750,883Expenses 2022: $793,133Net Income 2022: -$42,2502022Revenue 2023: $748,587Expenses 2023: $851,448Net Income 2023: -$102,8612023Revenue 2024: $1,009,106Expenses 2024: $884,453Net Income 2024: $124,6532024

Highlighted filing

2020

Revenue$729,945
Expenses$741,952
Net Income-$12,007
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 11, 2021
Return Version
2020v4.1
Gross Receipts
$729,945
Mission and Program Overview

Mission

To be east central indiana's primary sponsor bringing in technological firms.

To be east central indiana's primary sponsor bringing in technological firms.see schedule o

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,468,898$2,405,232▼ $63,666
Cash and Non-Interest-Bearing Accounts$328,679$546,876▲ $218,197
Accounts Receivable$150$4,425▲ $4,275
Total Assets$2,926,290$3,118,979▲ $192,689
Other Assets Total$128,563$162,446▲ $33,883
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,270,932$1,410,729▲ $139,797
Unsecured Notes Loans Payable$169,877$196,260▲ $26,383
Accounts Payable and Accrued Expenses$56,906$95,422▲ $38,516
Total Liabilities$1,497,715$1,702,411▲ $204,696
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,393,657$1,416,568▲ $22,911
Net Assets With Donor Restrictions$34,918$0▼ $34,918
Total Net Assets Fund Balance$1,428,575$1,416,568▼ $12,007
Total Liabilities and Net Assets / Fund Balance$2,926,290$3,118,979▲ $192,689

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,573,051$714,391-
Land$795,241--
Equipment$13,858$306,223-
Leasehold Improvements$23,082$128,742-
Other Assets Org$7,500--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Theodore BakerExecutive DirectorFT$143,456$143,456

Board Members and Trustees

NameTitle
Ronald FauquherChairman of the Board
Donald EngelBoard Member
Dr Matt MarvelBoard Member
Jeff ParsonBoard Member
Kristen SmithBoard Member
Stefan AndersonBoard Member
James BorgmannSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$482,407
Program Service Revenue
$247,421
Investment Income
$117
Other Revenue
$0
All Other Contributions
$482,407
Change in Net Assets
$-12,007
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$387,283
Salaries, Compensation, and Employee Benefits$354,669
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$268,929$47,458-$316,387
Occupancy$89,311$15,761-$105,072
Depreciation Depletion$71,057$12,539-$83,596
Interest$53,378$9,420-$62,798
Payroll Taxes$19,938$3,519-$23,457
Pension Plan Contributions$12,601$2,224-$14,825
Advertising$11,755--$11,755
Insurance$9,585$1,691-$11,276
All Other Expenses$7,124$3,922-$11,046
Other Expenses$7,261$1,281-$8,542
Fees for Services Accounting$3,369$5,053-$8,422
Travel$4,646--$4,646
Conferences and Meetings$1,896--$1,896
Fees for Services Management$608$912-$1,520
Office Expenses$800$141-$941
Total Functional Expenses$615,313$126,639$0$741,952
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
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

A copy of the tax return is reviewed by the executive director and provided to the board of directors for their review prior to filing.

Form 990, Part VI, Section B, Line 15A

The board of directors adjusts the executive director's compensation based on performance.

Form 990, Part VI, Section C, Line 19

All documents subject to public inspection are available upon request at the organization's office.

Filing and Contact Details

Filer

Filer Name
Innovation Connector Inc
EIN
35-2216589
Phone
7652854900
Address
1208 WEST WHITE RIVER BLVD, MUNCIE, IN 47303

Signing Officer

Name
Ted Baker
Title
Executive Director
Phone
7652854900
Signed
2021-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ted Baker
Formed
2001
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
4
Volunteers
0

Preparer

Firm
Whitinger & Company LLC
Address
1100 W WHITE RIVER BLVD, MUNCIE, IN 47303-3776
Preparer
Linn a Crull CPA
Phone
7652843384
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IRS990/PYRevenuesLessExpensesAmt0-385720
IRS990/PYSalariesCompEmpBnftPaidAmt0324906
IRS990/PYTotalExpensesAmt0750713
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0364993
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-12007
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0247538
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0482407
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0100000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt045000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0680649
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0720609
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02028665
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0197818
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0181710
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0168787
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0160451
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0149514
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0858280
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01164763
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt07741
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt040359
IRS990ScheduleA/OtherIncome170Grp/TotalAmt048100
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.69120
IRS990ScheduleA/PublicSupportPY170Pct00.72900
IRS990ScheduleA/PublicSupportTotal170Amt02028665
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0482407
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0100000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt045000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0680649
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0720609
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02028665
IRS990ScheduleA/TotalSupportAmt02935045
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt01573051
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0714391
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt02287442
IRS990ScheduleD/EquipmentGrp/BookValueAmt013858
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0306223
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0320081
IRS990ScheduleD/LandGrp/BookValueAmt0795241
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0795241
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt023082
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0128742
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0151824
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0154946
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt17500
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REVOLVING LOAN FUND RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1MICRO LOANS RECEIVABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02405232
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0162446
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE TAX RETURN IS REVIEWED BY THE EXECUTIVE DIRECTOR AND PROVIDED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS ADJUSTS THE EXECUTIVE DIRECTOR'S COMPENSATION BASED ON PERFORMANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL DOCUMENTS SUBJECT TO PUBLIC INSPECTION ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02926290
IRS990/TotalAssetsEOYAmt03118979
IRS990/TotalAssetsGrp/BOYAmt02926290
IRS990/TotalAssetsGrp/EOYAmt03118979
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0482407
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0126639
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0615313
IRS990/TotalFunctionalExpensesGrp/TotalAmt0741952
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01497715
IRS990/TotalLiabilitiesEOYAmt01702411
IRS990/TotalLiabilitiesGrp/BOYAmt01497715
IRS990/TotalLiabilitiesGrp/EOYAmt01702411
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01428575
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01416568
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0615313
IRS990/TotalProgramServiceRevenueAmt0247421
IRS990/TotalReportableCompFromOrgAmt0143456
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0247538
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0729945
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02926290
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03118979
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt04646
IRS990/TravelGrp/TotalAmt04646
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0169877
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0196260
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01208 WEST WHITE RIVER BOULEVARD
IRS990/USAddress/CityNm0MUNCIE
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047303
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.INNOVATIONCONNECTOR.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.67$1.37$1.30$1.01$0.88$0.12
2023Detailed filing. Detailed filing data is available for this year.$2.61$1.43$1.18$0.75$0.85$0.10
2022Detailed filing. Detailed filing data is available for this year.$2.81$1.51$1.30$0.75$0.79$0.04
2021Detailed filing. Detailed filing data is available for this year.$3.19$1.90$1.29$0.74$0.87$0.13
2020Detailed filing. Detailed filing data is available for this year.$3.12$1.70$1.42$0.73$0.74$0.01
2019Detailed filing. Detailed filing data is available for this year.$2.93$1.50$1.43$0.36$0.75$0.39
2018Detailed filing. Detailed filing data is available for this year.$3.36$1.55$1.81$0.27$0.74$0.46
2017Detailed filing. Detailed filing data is available for this year.$3.89$1.61$2.28$0.91$0.72$0.20
2016Detailed filing. Detailed filing data is available for this year.$3.66$1.57$2.08$0.97$0.68$0.29
2015Detailed filing. Detailed filing data is available for this year.$3.35$1.56$1.79$1.15$0.67$0.48
2014Detailed filing. Detailed filing data is available for this year.$2.89$1.58$1.31$0.44$0.63$0.19
2013Detailed filing. Detailed filing data is available for this year.$3.08$1.58$1.50$0.45$0.53$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.20$1.62$1.58$0.51
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.33$1.66$1.67$0.50
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.42$1.68$1.74$0.57