Civic Intelligence

Velocity Indiana Inc

990 • Fiscal year 2019 • EIN 46-2160455

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 19, 2020

Organization Profilewww.1804ec.com
PO Box 546Jeffersonville, IN 47131-0546

(812) 280-8372

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2019

Liabilities / Revenue

65th percentile

0.01x

Higher debt load relative to revenue than 65% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

3rd percentile

-236%

Higher net margin than 3% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

4th percentile

-77%

Faster revenue growth than 4% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $375,179 (-100%) from 2018

Net Assets

Down

-$1,521

Down $376,700 (-100%) from 2018

Liabilities

Up

$1,521

Up $1,521 from 2018

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin3rd percentile

Revenue

Down

$159,800

Down $529,000 (-77%) from 2018

Expenses

Down

$536,500

Down $28,183 (-5.0%) from 2018

Net Income

Down

-$376,700

Down $500,817 (-404%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$600K$400K$200K$0-$200KAssets 2013: $186,726Liabilities 2013: $3,196Net Assets 2013: $183,5302013Assets 2014: $562,906Liabilities 2014: $31,127Net Assets 2014: $531,7792014Assets 2015: $376,140Liabilities 2015: $1,514Net Assets 2015: $374,6262015Assets 2016: $205,585Liabilities 2016: $0Net Assets 2016: $205,5852016Assets 2017: $251,062Liabilities 2017: $494Net Assets 2017: $250,5682017Assets 2018: $375,179Liabilities 2018: $0Net Assets 2018: $375,1792018Assets 2019: $0Liabilities 2019: $1,521Net Assets 2019: -$1,5212019Assets 2020: $389,290Liabilities 2020: $233,333Net Assets 2020: $155,9572020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2019

Assets$0
Liabilities$1,521
Net Assets-$1,521
Open 2019 Filing

Operations Trend

Revenue Growth4th percentile

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

$1.0M$500K$0-$500KRevenue 2013: $378,224Expenses 2013: $194,694Net Income 2013: $183,5302013Revenue 2014: $798,446Expenses 2014: $450,197Net Income 2014: $348,2492014Revenue 2015: $334,076Expenses 2015: $491,229Net Income 2015: -$157,1532015Revenue 2016: $200,000Expenses 2016: $369,041Net Income 2016: -$169,0412016Revenue 2017: $406,242Expenses 2017: $361,259Net Income 2017: $44,9832017Revenue 2018: $688,800Expenses 2018: $564,683Net Income 2018: $124,1172018Revenue 2019: $159,800Expenses 2019: $536,500Net Income 2019: -$376,7002019Revenue 2020: $529,000Expenses 2020: $371,522Net Income 2020: $157,4782020Revenue 2021: $0Expenses 2021: $92,069Net Income 2021: -$92,0692021

Highlighted filing

2019

Revenue$159,800
Expenses$536,500
Net Income-$376,700
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 19, 2020
Return Version
2019v5.1
Gross Receipts
$159,800
Mission and Program Overview

Mission

To inspire and educate entrepreneurs in Southern Indiana while also facilitating collaboration within the regional community on projects and programs that creates and nurtures the entrepreneurial spirit.

To operate as a bi-state entrepreneurial organization that supports entrepreneurial efforts and encourages the establishment of early-stage startups throughout Metro area, including both Louisville, Kentucky and Southern Indiana. It looks for ecosystem development opportunities in which there is a need in the startup community and seeks to plug those holes through its various partnerships or its own direct efforts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$375,179$0▼ $375,179
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$375,179$-1,521▼ $376,700
Total Assets$375,179$0▼ $375,179
Liabilities
Other Liabilities$0$1,521▲ $1,521
Total Liabilities$0$1,521▲ $1,521
Net Assets / Fund Balance
Total Net Assets Fund Balance$375,179$-1,521▼ $376,700
Total Liabilities and Net Assets / Fund Balance$375,179$0▼ $375,179
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Kent LanumBoard Chairman
Bobby FerreriBoard Vice Chair
Jackson AndrewsBoard Secretary/Treasurer
Chris LaMotheDirector
Galen PowersDirector
Madison HammanDirector
Maggie GallowayDirector
Tendai CharasikaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$159,800
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$159,800
Change in Net Assets
$-376,700
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$368,042
Other Expenses$168,458
Total Fundraising Expense$12,605
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$368,042--$368,042
Fees for Services Other$25,210$88,234$12,605$126,049
Fees for Services Legal$13,162$2,696-$15,858
Occupancy$5,871$1,032-$6,903
Insurance-$3,653-$3,653
Office Expenses$424$2,670-$3,094
Other Expenses-$2,452-$2,452
Information Technology-$403-$403
Advertising$23$23-$46
Total Functional Expenses$412,732$111,163$12,605$536,500
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Elevate Ventures IncIndianapolis, IN-To support innovation and long-term entrepreneurial activities in Southern Indiana and region.$368,042
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
Checks written in excess of cash$1,521
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Part VI, Section B, line 11B

“A copy of the return is presented to the board of directors prior to the filing date. The board reviews the return and approves the return once any and all conflicts are resloved.”

Form 990, Part VI, Section B, line 12C

“The members of the board are required to disclose any known conflicts of interest in board meetings.”

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

“There were no employees for the year.”

Form 990, Part VI, Section C, line 19

“Items are available upon request”

Filing and Contact Details

Filer

Filer Name
1804 Inc
EIN
46-2160455
Phone
8122808372
Address
PO Box 546, Jeffersonville, IN 47131-0546

Signing Officer

Name
Kent Lanum
Title
Board Chair
Phone
8122808372
Signed
2020-08-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kent Lanum
Formed
2013
Legal Domicile
In
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
0

Preparer

Firm
Strothman & Company PSC
Address
325 W Main St Suite 1600, Louisville, KY 40202-4251
Preparer
Raymond G Strothman CPA
Phone
5025851600
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Contractors: Program service expenses 25,210. Management and general expenses 88,234. Fundraising expenses 12,605. Total expenses 126,049.”

Raw XML Appendix366 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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IRS990/Desc01804, Inc., is organization that continues to seek strategic partnerships with like-minded organizations within both Kentucky and Indiana that positively impacts the development of our local entrepreneurs and their businesses. This includes an intentional positioning of 1804 within the local ecosystem to help identify both new companies/founders at their earliest stages of development and aiding those in their latter growth stages. Provides traditional and unique educational programming and networking opportunities with other startups or interested corporate entities. The goal of its efforts is that these new companies understand the important principles of entrepreneurship on how to generate consistent, sustainable revenue levels for the owner, its operations and early investors, thereby creating high-value jobs in the region, as defined by the Metro Louisville, Kentucky MSA.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0To support innovation and long-term entrepreneurial activities in Southern Indiana and region.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Elevate Ventures Inc
IRS990ScheduleI/RecipientTable/RecipientEIN0274118692
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt050 E 91st Street Suite 213
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A copy of the return is presented to the board of directors prior to the filing date. The board reviews the return and approves the return once any and all conflicts are resloved.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The members of the board are required to disclose any known conflicts of interest in board meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2There were no employees for the year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Items are available upon request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Contractors: Program service expenses 25,210. Management and general expenses 88,234. Fundraising expenses 12,605. Total expenses 126,049.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, line 11g
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0375179
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt0375179
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0159800
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt012605
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0111163
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0412732
IRS990/TotalFunctionalExpensesGrp/TotalAmt0536500
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt01521
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt01521
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0375179
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1521
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0412732
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0159800
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0375179
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 546
IRS990/USAddress/CityNm0Jeffersonville
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd0471310546
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.1804ec.com
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Kent Lanum
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum08122808372
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-08-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt01804 Inc
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0f/k/a Velocity Indiana Inc
ReturnHeader/Filer/BusinessNameControlTxt01804
ReturnHeader/Filer/EIN0462160455
ReturnHeader/Filer/PhoneNum08122808372
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 546
ReturnHeader/Filer/USAddress/CityNm0Jeffersonville
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd0471310546
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId06D1A32FC2DB6B58684A3BBE8B25401A443D35516
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt069.64.8.50
ReturnHeader/FilingSecurityInformation/IPDt02020-08-19
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm007:56:22
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0611191655
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Strothman & Company PSC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0325 W Main St Suite 1600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Louisville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0402024251
ReturnHeader/PreparerPersonGrp/PhoneNum05025851600
ReturnHeader/PreparerPersonGrp/PreparationDt02020-08-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Raymond G Strothman CPA
ReturnHeader/ReturnTs02020-09-13T19:30:44-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$1,521
Net assets
-$1,521
Revenue
$159,800
Expenses
$536,500
Net income
-$376,700
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.92$0.92
2020Detailed filing. Detailed filing data is available for this year.$3.89$2.33$1.56$5.29$3.72$1.57
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.02$0.02$1.60$5.37$3.77
2018Detailed filing. Detailed filing data is available for this year.$3.75$0.00$3.75$6.89$5.65$1.24
2017Summary only. Only limited summary data is available for this year.$2.51$0.00$2.51$4.06$3.61$0.45
2016Detailed filing. Detailed filing data is available for this year.$2.06$0.00$2.06$2.00$3.69$1.69
2015Detailed filing. Detailed filing data is available for this year.$3.76$0.02$3.75$3.34$4.91$1.57
2014Detailed filing. Detailed filing data is available for this year.$5.63$0.31$5.32$7.98$4.50$3.48
2013Summary only. Only limited summary data is available for this year.$1.87$0.03$1.84$3.78$1.95$1.84