Civic Intelligence

Ivy Tech Properties Inc

990 • Fiscal year 2022 • EIN 45-4551412

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 18, 2023

Organization ProfileN/A
50 W Fall Creek Parkway North DrivIndianapolis, IN 46208

(317) 921-4749

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.89x

Higher debt load relative to assets than 73% of similar nonprofits.

2022 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

99th percentile

1039.95x

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

2022 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2022

Net Margin

2nd percentile

-4454%

Higher net margin than 2% of similar nonprofits.

2022 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

60th percentile

$297,274

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 2144.5% of source-year revenue.

2022 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2022

Asset Growth

12th percentile

-5.7%

Faster asset growth than 12% of similar nonprofits.

2022 filings • 501(c)2 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

11th percentile

-57%

Faster revenue growth than 11% of similar nonprofits.

2022 filings • 501(c)2 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Down

$16,217,919

Down $977,191 (-5.7%) from 2021

Net Assets

Down

$1,802,143

Down $1,002,342 (-36%) from 2021

Liabilities

Up

$14,415,776

Up $25,151 (+0.2%) from 2021

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin2nd percentile

Revenue

Down

$13,862

Down $18,232 (-57%) from 2021

Expenses

Up

$631,283

Up $547,035 (+649%) from 2021

Net Income

Down

-$617,421

Down $565,267 (-1084%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2021: $17,195,110Liabilities 2021: $14,390,625Net Assets 2021: $2,804,4852021Assets 2022: $16,217,919Liabilities 2022: $14,415,776Net Assets 2022: $1,802,1432022Assets 2023: $13,849,777Liabilities 2023: $14,365,474Net Assets 2023: -$515,6972023Assets 2025: $12,178,092Liabilities 2025: $14,491,229Net Assets 2025: -$2,313,1372025

Highlighted filing

2022

Assets$16,217,919
Liabilities$14,415,776
Net Assets$1,802,143
Open 2022 Filing

Operations Trend

Revenue Growth11th percentile

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

$1.0M$500K$0-$500K-$1.0MRevenue 2021: $32,094Expenses 2021: $84,248Net Income 2021: -$52,1542021Revenue 2022: $13,862Expenses 2022: $631,283Net Income 2022: -$617,4212022Revenue 2023: $85,978Expenses 2023: $755,930Net Income 2023: -$669,9522023Revenue 2025: $65Expenses 2025: $971,963Net Income 2025: -$971,8982025

Highlighted filing

2022

Revenue$13,862
Expenses$631,283
Net Income-$617,421
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 18, 2023
Return Version
2021v4.2
Gross Receipts
$13,862
Mission and Program Overview

Mission

To acquire, own and redevelop property for the benefit of ivy tech community college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,496,519$14,247,520▲ $2,751,001
Savings and Temporary Cash Investments$5,691,966$1,963,774▼ $3,728,192
Pledges and Grants Receivable$6,625$6,625→ $0
Total Assets$17,195,110$16,217,919▼ $977,191
Liabilities
Mortgage Notes Payable Secured by Investment Property$14,390,625$14,415,776▲ $25,151
Total Liabilities$14,390,625$14,415,776▲ $25,151
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,804,485$1,802,143▼ $1,002,342
Total Net Assets Fund Balance$2,804,485$1,802,143▼ $1,002,342
Total Liabilities and Net Assets / Fund Balance$17,195,110$16,217,919▼ $977,191

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,187,520$521,826$13,709,346
Land$1,060,000-$1,060,000
Compensation and Service Providers
Top Officer Pay60th percentile

Board Members and Trustees

NameTitle
Courtney Roberts Beg 122President
John Murphy Thru 721President
Thomas SkidmoreTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$13,862
Other Revenue
$0
Change in Net Assets
$-617,421

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,862
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$13,862
Total Revenue per Form 990
$13,862
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$631,283
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
Depreciation Depletion---$521,826
Other Expenses---$91,928
Interest---$14,329
Fees for Services Other---$3,200
Total Functional Expenses$0$0$0$631,283

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$631,283
Total Expenses per Audited Statements$631,283
Total Expenses per Form 990$631,283
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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

“The board will review the 990 in draft and any revisions will be made before filing.”

Form 990, Part VI, Section C, Line 19

“UPON REQUEST”

Form 990, Part VI, Section B, Line 12

“As a subsidiary of ivy tech foundation, the board operates under the conflict of interest, whistleblower and document retention policies of ivy tech foundation.”

Filing and Contact Details

Filer

Filer Name
Ivy Tech Properties Inc
EIN
45-4551412
Phone
3179214749
Address
50 W FALL CREEK PARKWAY NORTH DRIV, INDIANAPOLIS, IN 46208

Signing Officer

Name
Courtney N Roberts
Title
President
Phone
3179214749
Signed
2023-04-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Courtney N Roberts
Formed
2012
Legal Domicile
In
Voting Board Members
2
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Ksm Business Services Inc
Address
PO BOX 40857, INDIANAPOLIS, IN 46240
Preparer
Casse Tate
Phone
3175802000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Transfer to ivy tech foundation, inc. -384,921.”

Form 990, Part XII, Line 2C

“There has been no change in this process from prior year.”

Financial Statement Notes

PART X, LINE 2:

“Ivy tech properties, inc. Is exempt from federal income taxes under section 501(c)(2) of the irc. There was no unrelated business income tax for the years ended june 30, 2022 and 2021. Ivy tech properties files us federal and state of indiana informational returns. It is no longer subject to us federal and state income tax examinations by tax authorities for years before the year ended june 30, 2019. Management believes that the income tax filing positions will be sustained on audit and does not anticipate any adjustments that will result in material change.”

Raw XML Appendix370 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IVY TECH PROPERTIES, INC. IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(2) OF THE IRC. THERE WAS NO UNRELATED BUSINESS INCOME TAX FOR THE YEARS ENDED JUNE 30, 2022 AND 2021. IVY TECH PROPERTIES FILES US FEDERAL AND STATE OF INDIANA INFORMATIONAL RETURNS. IT IS NO LONGER SUBJECT TO US FEDERAL AND STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE THE YEAR ENDED JUNE 30, 2019. MANAGEMENT BELIEVES THAT THE INCOME TAX FILING POSITIONS WILL BE SUSTAINED ON AUDIT AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WILL RESULT IN MATERIAL CHANGE.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD WILL REVIEW THE 990 IN DRAFT AND ANY REVISIONS WILL BE MADE BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TRANSFER TO IVY TECH FOUNDATION, INC. -384,921.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THERE HAS BEEN NO CHANGE IN THIS PROCESS FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AS A SUBSIDIARY OF IVY TECH FOUNDATION, THE BOARD OPERATES UNDER THE CONFLICT OF INTEREST, WHISTLEBLOWER AND DOCUMENT RETENTION POLICIES OF IVY TECH FOUNDATION.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1351180631
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1POST SECONDARY EDUCATION
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt150 WEST FALL CREEK PARKWAY N DRIVE
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IN
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd146208
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd01
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt016217919
IRS990/TotalAssetsGrp/BOYAmt017195110
IRS990/TotalAssetsGrp/EOYAmt016217919
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt013862
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt016217919
IRS990/TotReportableCompRltdOrgAmt0406543
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt050 W FALL CREEK PARKWAY NORTH DRIVE
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046208
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0COURTNEY N ROBERTS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03179214749
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-04-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IVY TECH PROPERTIES INC
ReturnHeader/Filer/BusinessNameControlTxt0IVYT
ReturnHeader/Filer/EIN0454551412
ReturnHeader/Filer/PhoneNum03179214749
ReturnHeader/Filer/USAddress/AddressLine1Txt050 W FALL CREEK PARKWAY NORTH DRIV
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0352123203
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KSM BUSINESS SERVICES INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 40857
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046240
ReturnHeader/PreparerPersonGrp/PhoneNum03175802000
ReturnHeader/PreparerPersonGrp/PreparationDt02023-04-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CASSE TATE
ReturnHeader/ReturnTs02023-05-09T10:05:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0COURTNEY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ROBERTS
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,217,919
Liabilities
$14,415,776
Net assets
$1,802,143
Revenue
$13,862
Expenses
$631,283
Net income
-$617,421
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$12.2$14.5$2.31$0.00$0.97$0.97
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.8$14.4$0.52$0.09$0.76$0.67
2022Detailed filing. Detailed filing data is available for this year.$16.2$14.4$1.80$0.01$0.63$0.62
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.2$14.4$2.80$0.03$0.08$0.05
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)2 • $10M-$25M nonprofits