Civic Intelligence

Dimension MILL Inc.

990 • Fiscal year 2022 • EIN 82-3745526

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 09, 2023

642 N Madison StBloomington, IN 47404

(317) 965-2155

Siviq Scores

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

Liabilities / Assets

95th percentile

1.07x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

91st percentile

1.55x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

9th percentile

-37%

Higher net margin than 9% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

85th percentile

$159,167

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 12.4% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

91st percentile

67%

Faster asset growth than 91% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

75th percentile

34%

Faster revenue growth than 75% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$1,860,065

Up $747,264 (+67%) from 2021

Net Assets

Down

-$126,959

Down $363,012 (-154%) from 2021

Liabilities

Up

$1,987,024

Up $1,110,276 (+127%) from 2021

Revenue

Up

$1,279,893

Up $322,986 (+34%) from 2021

Expenses

Up

$1,759,366

Up $511,861 (+41%) from 2021

Net Income

Down

-$479,473

Down $188,875 (-65%) from 2021

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$0-$1.0MAssets 2017: $50,000Liabilities 2017: $02017Assets 2018: $1,074,908Liabilities 2018: $328,857Net Assets 2018: $746,0512018Assets 2019: $540,606Liabilities 2019: $112,818Net Assets 2019: $427,7882019Assets 2020: $657,870Liabilities 2020: $359,957Net Assets 2020: $297,9132020Assets 2021: $1,112,801Liabilities 2021: $876,748Net Assets 2021: $236,0532021Assets 2022: $1,860,065Liabilities 2022: $1,987,024Net Assets 2022: -$126,9592022Assets 2023: $2,188,013Liabilities 2023: $2,205,399Net Assets 2023: -$17,3862023Assets 2024: $2,741,462Liabilities 2024: $3,088,404Net Assets 2024: -$346,9422024

Highlighted filing

2022

Assets$1,860,065
Liabilities$1,987,024
Net Assets-$126,959

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $50,000Expenses 2017: $0Net Income 2017: $50,0002017Revenue 2018: $811,887Expenses 2018: $151,874Net Income 2018: $660,0132018Revenue 2019: $565,041Expenses 2019: $619,701Net Income 2019: -$54,6602019Revenue 2020: $762,756Expenses 2020: $1,141,304Net Income 2020: -$378,5482020Revenue 2021: $956,907Expenses 2021: $1,247,505Net Income 2021: -$290,5982021Revenue 2022: $1,279,893Expenses 2022: $1,759,366Net Income 2022: -$479,4732022Revenue 2023: $1,918,298Expenses 2023: $2,017,512Net Income 2023: -$99,2142023Revenue 2024: $2,176,927Expenses 2024: $2,463,358Net Income 2024: -$286,4312024

Highlighted filing

2022

Revenue$1,279,893
Expenses$1,759,366
Net Income-$479,473
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 9, 2023
Return Version
2022v5.0
Gross Receipts
$1,279,893
Mission and Program Overview

Mission

Our mission is to help launch and accelerate high-potential companies. Our vision is to become the center of coworking and entrepreneurship in Indiana.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$355,699$572,491▲ $216,792
Savings and Temporary Cash Investments$500,066$0▼ $500,066
Pledges and Grants Receivable$11,640$75,000▲ $63,360
Land, Buildings, and Equipment, Net$12,418$12,257▼ $161
Intangible Assets$40,000$10,000▼ $30,000
Accounts Receivable-$9,997-
Prepaid Expenses and Deferred Charges-$7,750-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$1,112,801$1,860,065▲ $747,264
Other Assets Total$192,978$1,172,570▲ $979,592
Liabilities
Other Liabilities$78,226$991,210▲ $912,984
Mortgage Notes Payable Secured by Investment Property$500,000$500,000→ $0
Escrow Account Liability$190,000$375,000▲ $185,000
Accounts Payable and Accrued Expenses$58,800$80,775▲ $21,975
Deferred Revenue$49,722$40,039▼ $9,683
Total Liabilities$876,748$1,987,024▲ $1,110,276
Net Assets / Fund Balance
Net Assets With Donor Restrictions$44,500$133,165▲ $88,665
Net Assets Without Donor Restrictions$191,553$-260,124▼ $451,677
Total Net Assets Fund Balance$236,053$-126,959▼ $363,012
Total Liabilities and Net Assets / Fund Balance$1,112,801$1,860,065▲ $747,264

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$12,257$15,758$28,015
Other Assets Org$796,705--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Pat EastExecutive DirectorFT$159,167$159,167

Board Members and Trustees

NameTitle
Anne McCombeChair
Jennifer PearlPast Vice Chair
Geng WangVice Chair
Adam GrossBoard Member
Beka MechBoard Member
Ben SwansonBoard Member
Brooke PyneBoard Member
Cindy KinnarneyBoard Member
Derek WhitleyBoard Member
Jason WhitneyBoard Member
John HamiltonBoard Member
Michelle ColeBoard Member
Mike TrotzkeBoard Member
Ravi BhattBoard Member
Reagan FrankBoard Member
Tina PetersonBoard Member
Karin St JohnTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$483,452
Program Service Revenue
$792,180
Investment Income
$1,133
Other Revenue
$3,128
All Other Contributions
$177,966
Change in Net Assets
$-479,473

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,279,893
Revenue Not Reported on Form 990
$225,059
Total Revenue per Audited Statements
$1,504,952
Total Revenue per Form 990
$1,279,893
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$993,155
Salaries, Compensation, and Employee Benefits$766,211
Total Fundraising Expense$62,446
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$347,857$131,116$32,395$511,368
Occupancy$193,026$65,059-$258,085
Fees for Services Other$125,211$76,514$10,881$212,606
Current Officers, Directors, Trustees, and Key Employees$108,273$40,811$10,083$159,167
Payroll Taxes$35,882$13,720$3,166$52,768
Advertising$43,062$1,087-$44,149
Other Employee Benefits$29,178$11,156$2,574$42,908
Depreciation Depletion$27,848$6,962-$34,810
All Other Expenses$14,700$19,058-$33,758
Information Technology$5,696$16,530$1,771$23,997
Other Expenses$21,648$41,522-$21,648
Interest-$13,308-$13,308
Insurance$6,848$2,050$224$9,122
Travel$3,030$3,873$1,352$8,255
Total Functional Expenses$1,204,154$492,766$62,446$1,759,366

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,759,366
Total Expenses per Audited Statements$1,759,366
Total Expenses per Form 990$1,759,366
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating lease liability - non-current$909,448
Operating lease liability - current$81,762
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
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 A, Line 2

Mike Trotzke (board member) is a co-founder of Sproutbox. Pat East (the Mills executive director) is an investor in Sproutbox, which is run by Mike Trotzke. Pat East is an investor in M25. M25 is an investor in Cheddar (Mike Trotzke, CEO). City of Bloomington (John Hamilton, Mayor) and Bloomington Economic Development Corporation (Jennifer Pearl, President, Bloomington Economic Development Corporation) are board members of the Bloomington Economic Development Corporation. The Bloomington Economic Development Corporation (Jennifer Pearl, President) is under contract with the City of Bloomington (John Hamilton, Mayor) Redevelopment Commission to assist with forming the Dimension Mill, Inc. nonprofit.MetroStar, where Anne McCombe (Board Chair) is an employee, is a financial sponsor of events produced by the Mill. Ben Swanson (board member) is an investor in the Flywheel Funds, investment funds managed by the Mill. Flamel.AI is a recipient of an investment made by the Flywheel Fund, investment funds managed by the Mill. Derek Whitley (board member) is the co-Founder and chief technology officer of Flamel.ai. Geng Wang (vice chair) is the co-founder and CEO of Civic Champs. Civic Champs is a recipient of an investment made by the Flywheel Fund, investment funds managed by the Mill. Branchfire, LLC is a recipient of an investment made by the Flywheel Fund, investment funds managed by the Mill. Ravi Bhatt (board member) is the co-Founder and chief technology officer of Branchfire, LLC. Cindy Kinnarney (board member) serves on the City of Bloomington Redevelopment Commission, which approves contract agreements and funding for the Mill. Tina Peterson (board member) is the president and CEO of the Regional Opportunity Initiatives, an organization that provides program support to the Mill. Jennifer Pearl (past vice chair) is married to Larry Allen, an attorney working at the City of Bloomington, who also works with the Mill. Michelle Cole (board member) is a member of the Flywheel Fund, investment funds managed by the Mill, and has consulting arrangements with the Mill to provide investment management services.

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

990 is reviewed by the executive director, the finance committee, and the CPA before filing.

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

Compensation for all employees, including the Executive Director, is reviewed annually and approved by the Finance Committee, Executive Committee, and the Board of Directors. Comparability data is submitted on request, and the deliberation and decisions are recorded in all meeting minutes.

Form 990, Part VI, Section C, Line 19

We make our Articles of Incorporation, IRS Letter, and Form 990 available to the public in our offices by appointment.

Filing and Contact Details

Filer

Filer Name
Dimension Mill INC
EIN
82-3745526
Phone
3179652155
Address
642 N Madison St, Bloomington, IN 47404

Signing Officer

Name
Patrick East
Title
Executive Director
Signed
2023-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pat East
Formed
2017
Legal Domicile
In
Voting Board Members
17
Independent Board Members
17
Employees
0

Preparer

Firm
Stampfli Associates CPAs PC
Address
1115 N Walnut St Ste C, Bloomington, IN 47404
Preparer
Dana Bement
Phone
8123390450
Supplemental Narrative

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

The Mill facilitates selection of investments, organization documents, and tax returns for unrelated Limited Liability Companies, and relationship management.

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