Civic Intelligence

Ivy Tech Properties Inc

990 • Fiscal year 2024 • EIN 45-4551412

Jul 01, 2023 to Jun 30, 2024 • Filed on Nov 14, 2024

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

91st percentile

1.11x

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

2024 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

114.22x

Higher debt load relative to revenue than 95% of similar nonprofits.

2024 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2024

Net Margin

2nd percentile

-643%

Higher net margin than 2% of similar nonprofits.

2024 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

68th percentile

$404,373

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 319.3% of source-year revenue.

2024 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2024

Asset Growth

9th percentile

-5.9%

Faster asset growth than 9% of similar nonprofits.

2024 filings • 501(c)2 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

86th percentile

47%

Faster revenue growth than 86% of similar nonprofits.

2024 filings • 501(c)2 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$13,032,889

Down $816,888 (-5.9%) from 2023

Net Assets

Down

-$1,433,189

Down $917,492 (-178%) from 2023

Liabilities

Up

$14,466,078

Up $100,604 (+0.7%) from 2023

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin2nd percentile

Revenue

Up

$126,655

Up $40,677 (+47%) from 2023

Expenses

Up

$940,462

Up $184,532 (+24%) from 2023

Net Income

Down

-$813,807

Down $143,855 (-21%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth9th 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 2024: $13,032,889Liabilities 2024: $14,466,078Net Assets 2024: -$1,433,1892024Assets 2025: $12,178,092Liabilities 2025: $14,491,229Net Assets 2025: -$2,313,1372025

Highlighted filing

2024

Assets$13,032,889
Liabilities$14,466,078
Net Assets-$1,433,189
Open 2024 Filing

Operations Trend

Revenue Growth86th 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 2024: $126,655Expenses 2024: $940,462Net Income 2024: -$813,8072024Revenue 2025: $65Expenses 2025: $971,963Net Income 2025: -$971,8982025

Highlighted filing

2024

Revenue$126,655
Expenses$940,462
Net Income-$813,807
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$126,655
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$13,501,991$12,776,961▼ $725,030
Savings and Temporary Cash Investments$347,786$255,928▼ $91,858
Total Assets$13,849,777$13,032,889▼ $816,888
Liabilities
Mortgage Notes Payable Secured by Investment Property$14,365,474$14,466,078▲ $100,604
Total Liabilities$14,365,474$14,466,078▲ $100,604
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-515,697$-1,433,189▼ $917,492
Total Net Assets Fund Balance$-515,697$-1,433,189▼ $917,492
Total Liabilities and Net Assets / Fund Balance$13,849,777$13,032,889▼ $816,888

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,082,044$1,876,292$12,958,336
Land$1,060,000-$1,060,000
Other Land Buildings$634,917$123,193$758,110
Compensation and Service Providers
Top Officer Pay68th percentile

Board Members and Trustees

NameTitle
Courtney N RobertsPresident
Becky MillerVice President
Thomas SkidmoreTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$126,633
Other Revenue
$22
Change in Net Assets
$-813,807

Audited Revenue Reconciliation

Revenue per Audited Statements
$126,655
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$126,655
Total Revenue per Form 990
$126,655
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$940,462
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---$917,189
Other Expenses---$19,973
Fees for Services Other---$3,300
Total Functional Expenses$0$0$0$940,462

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$940,462
Total Expenses per Audited Statements$940,462
Total Expenses per Form 990$940,462
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
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Courtney N Roberts
Formed
2012
Legal Domicile
In
Voting Board Members
3
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. -103,685.”

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, 2024 and 2023. 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, 2021. 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 Appendix387 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, 2024 AND 2023. 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, 2021. 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0COURTNEY N ROBERTS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1THOMAS SKIDMORE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2BECKY MILLER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE IVY TECH PROPERTIES HAS NO EMPLOYEES. OFFICERS ARE PAID BY IVY TECH COMMUNITY COLLEGE FOR SERVICES PERFORMED BY COLLEGE EMPLOYEES THAT BENEFIT IVY TECH PROPERTIES AND IVY TECH FOUNDATION. COLLEGE SALARIES ARE ESTABLISHED BASED UPON COMPARATIVE SALARY ANALYSIS OF COLLEGE EMPLOYEES IN COMPARABLE POSITIONS, CONSIDERATION OF ECONOMIES OF SCALE, INPUT FROM HUMAN RESOURCES AND FINAL APPROVAL OF APPROPRIATE COLLEGE OFFICER.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I LINE 3 AND PART II
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IRS990/ScheduleORequiredInd01
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. -103,685.
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.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0943447601
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0IN
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1IVY TECH COLLEGE OF INDIANA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0237073977
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1351180631
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1IN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0RECEIVE/ADMINISTER PROPERTY AND CONTRIB. FOR THE BENEFIT OF IVY TECH COLLEGE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1POST SECONDARY EDUCATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 5
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt150 WEST FALL CREEK PARKWAY N DRIVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0INDIANAPOLIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1INDIANAPOLIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1IN
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd146208
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0IVY TECH FOUNDATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0R
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd01
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt013849777
IRS990/TotalAssetsEOYAmt013032889
IRS990/TotalAssetsGrp/BOYAmt013849777
IRS990/TotalAssetsGrp/EOYAmt013032889
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0940462
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014365474
IRS990/TotalLiabilitiesEOYAmt014466078
IRS990/TotalLiabilitiesGrp/BOYAmt014365474
IRS990/TotalLiabilitiesGrp/EOYAmt014466078
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-515697
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1433189
IRS990/TotalOtherCompensationAmt0112346
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0126655
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0126655
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt013849777
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt013032889
IRS990/TotReportableCompRltdOrgAmt0800220
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046208
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0COURTNEY N ROBERTS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03179214749
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-14
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
ReturnHeader/Filer/USAddress/CityNm0INDIANAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd046208
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
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/PreparationDt02024-11-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CASSE TATE
ReturnHeader/ReturnTs02024-11-14T15:33:19-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$13,032,889
Liabilities
$14,466,078
Net assets
-$1,433,189
Revenue
$126,655
Expenses
$940,462
Net income
-$813,807
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
2024Detailed filing. Detailed filing data is available for this year.$13.0$14.5$1.43$0.13$0.94$0.81
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
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$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