Civic Intelligence

Velocity Indiana Inc

990 • Fiscal year 2015 • EIN 46-2160455

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 07, 2016

Organization Profilewww.velocityindiana.org
321 E Court AveJeffersonville, IN 47130

(812) 624-1201

Siviq Scores

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

Liabilities / Assets

59th percentile

0.00x

Higher debt load relative to assets than 59% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

59th percentile

0.00x

Higher debt load relative to revenue than 59% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

8th percentile

-47%

Higher net margin than 8% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

79th percentile

$11,245

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

14th percentile

-33%

Faster asset growth than 14% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

7th percentile

-58%

Faster revenue growth than 7% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets59th percentile

Assets

Down

$376,140

Down $186,766 (-33%) from 2014

Net Assets

Down

$374,626

Down $157,153 (-30%) from 2014

Liabilities

Down

$1,514

Down $29,613 (-95%) from 2014

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin8th percentile

Revenue

Down

$334,076

Down $464,370 (-58%) from 2014

Expenses

Up

$491,229

Up $41,032 (+9.1%) from 2014

Net Income

Down

-$157,153

Down $505,402 (-145%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth14th 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

2015

Assets$376,140
Liabilities$1,514
Net Assets$374,626
Open 2015 Filing

Operations Trend

Revenue Growth7th 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

2015

Revenue$334,076
Expenses$491,229
Net Income-$157,153
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 7, 2016
Return Version
2015v2.1
Gross Receipts
$336,027
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$531,779$374,626▼ $157,153
Investments Program Related$286,877$361,877▲ $75,000
Land, Buildings, and Equipment, Net$154,716$0▼ $154,716
Cash and Non-Interest-Bearing Accounts$117,313$5,411▼ $111,902
Accounts Receivable-$4,852-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$562,906$376,140▼ $186,766
Other Assets Total$4,000$4,000→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$24,104$0▼ $24,104
Other Liabilities$7,023$1,514▼ $5,509
Total Liabilities$31,127$1,514▼ $29,613
Net Assets / Fund Balance
Total Net Assets Fund Balance$531,779$374,626▼ $157,153
Total Liabilities and Net Assets / Fund Balance$562,906$376,140▼ $186,766

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$75,000--
Compensation and Service Providers
Top Officer Pay79th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Tony SchyManaging DirectorFT$11,245$11,245

Board Members and Trustees

NameTitle
Matt ChalfantVice-Chairman
Bryce ButlerDirector
Kent LanumDirector
Doug CobbSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$250,295
Program Service Revenue
$85,732
Investment Income
$-1,951
Other Revenue
$0
All Other Contributions
$250,295
Change in Net Assets
$-157,153
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$206,452
Grants and Similar Amounts Paid$178,175
Salaries, Compensation, and Employee Benefits$106,602
Total Fundraising Expense$2,628
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$178,175--$178,175
Occupancy$126,959$24,887-$151,846
Other Salaries and Wages$60,289$25,838-$86,127
Fees for Services Other$5,296$18,396$2,628$26,320
Advertising$7,775$4,039-$11,814
Current Officers, Directors, Trustees, and Key Employees$7,872$3,373-$11,245
Payroll Taxes$6,461$2,769-$9,230
Office Expenses$4,436$963-$5,399
Insurance$2,017$1,717-$3,734
Travel$1,947$457-$2,404
Fees for Services Accounting$1,849$379-$2,228
Information Technology$1,510$484-$1,994
Interest$709--$709
Other Expenses$4--$4
Total Functional Expenses$405,299$83,302$2,628$491,229
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Maker Mobile IncCharlestown, IN-General Suuport$24,557
Access VenturesLouisville, KY-General Support-
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
Payroll Liabilities$1,514
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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 11

“A copy of the return is presented to the board of directors prior to the filing date. The board reviews the return and approve 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

“Managing director salary was compared to others in similar role and was substantially lower.”

Form 990, Part VI, Section C, line 19

“Items are available upon request”

Filing and Contact Details

Filer

Filer Name
Velocity Indiana Inc
EIN
46-2160455
Phone
8126241201
Address
321 E Court Ave, Jeffersonville, IN 47130

Signing Officer

Name
Director
Title
Director
Phone
8126241201
Signed
2016-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kent Lanum
Formed
2013
Legal Domicile
In
Voting Board Members
4
Independent Board Members
4
Employees
4
Volunteers
45

Preparer

Firm
Strothman & Company PSC
Address
325 W Main St Suite 1600, Louisville, KY 40202-4251
Preparer
Joseph D Johnston
Phone
5025851600
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd3C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd4C
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01514
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payroll Liabilities
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueProgramRltdAmt0361877
IRS990ScheduleD/TotalLiabilityAmt01514
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt024557
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt0126636
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt126982
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0Office Equipment and Furniture
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc1Office Equipment and Furniture
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0General Suuport
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1General Support
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Maker Mobile Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Access Ventures
IRS990ScheduleI/RecipientTable/RecipientEIN0475371748
IRS990ScheduleI/RecipientTable/RecipientEIN1463061287
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt010319 Stoney Point Rd
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11229 S Shelby St
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Charlestown
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Louisville
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1KY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd047111
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd140203
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc1FMV
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/DirectorOfSuccessor2Ind00
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Donated Assets
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1Donated Assets
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2Cash
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0Maker Mobile Inc
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt1Access Ventures
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt2Maker Mobile Inc
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02015-12-31
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt12015-12-31
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt22015-12-31
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0475371748
IRS990ScheduleN/DispositionOfAssetsDetail/EIN1463061287
IRS990ScheduleN/DispositionOfAssetsDetail/EIN2475371748
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt0126636
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt126982
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt224557
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0501(c)3
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt1501(c)3
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt2501(c)3
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0Book Value
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt1Book Value
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt2Cash
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt010319 Stoney Point Rd
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt11229 S Shelby St
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt210319 Stoney Point Rd
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0Charlestown
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm1Louisville
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm2Charlestown
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0IN
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd1KY
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd2IN
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd047111
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd140203
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd247111
IRS990ScheduleN/EmployeeOfSuccessor2Ind00
IRS990ScheduleN/OwnerOfSuccessor2Ind00
IRS990ScheduleN/ReceiveCompensation2Ind00
IRS990/ScheduleORequiredInd01
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 approve 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/ExplanationTxt2Managing director salary was compared to others in similar role and was substantially lower.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Items are available upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11
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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0562906
IRS990/TotalAssetsEOYAmt0376140
IRS990/TotalAssetsGrp/BOYAmt0562906
IRS990/TotalAssetsGrp/EOYAmt0376140
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0250295
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt02628
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt083302
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0405299
IRS990/TotalFunctionalExpensesGrp/TotalAmt0491229
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt031127
IRS990/TotalLiabilitiesEOYAmt01514
IRS990/TotalLiabilitiesGrp/BOYAmt031127
IRS990/TotalLiabilitiesGrp/EOYAmt01514
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0531779
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0374626
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0405299
IRS990/TotalProgramServiceRevenueAmt085732
IRS990/TotalReportableCompFromOrgAmt011245
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt083781
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0334076
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt045
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0562906
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0376140
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0457

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$376,140
Liabilities
$1,514
Net assets
$374,626
Revenue
$334,076
Expenses
$491,229
Net income
-$157,153
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