Civic Intelligence

Dimension MILL Inc.

990 • Fiscal year 2023 • EIN 82-3745526

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 26, 2024

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

94th percentile

1.01x

Higher debt load relative to assets than 94% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

89th percentile

1.15x

Higher debt load relative to revenue than 89% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

29th percentile

-5.2%

Higher net margin than 29% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

88th percentile

$180,790

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 9.4% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

74th percentile

18%

Faster asset growth than 74% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

83rd percentile

50%

Faster revenue growth than 83% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$2,188,013

Up $327,948 (+18%) from 2022

Net Assets

Up

-$17,386

Up $109,573 (+86%) from 2022

Liabilities

Up

$2,205,399

Up $218,375 (+11%) from 2022

Revenue

Up

$1,918,298

Up $638,405 (+50%) from 2022

Expenses

Up

$2,017,512

Up $258,146 (+15%) from 2022

Net Income

Up

-$99,214

Up $380,259 (+79%) from 2022

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

2023

Assets$2,188,013
Liabilities$2,205,399
Net Assets-$17,386

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

2023

Revenue$1,918,298
Expenses$2,017,512
Net Income-$99,214
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 26, 2024
Return Version
2023v5.1
Gross Receipts
$1,918,298
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$572,491$662,906▲ $90,415
Accounts Receivable$9,997$60,975▲ $50,978
Pledges and Grants Receivable$75,000$40,022▼ $34,978
Intangible Assets$10,000$0▼ $10,000
Prepaid Expenses and Deferred Charges$7,750$9,290▲ $1,540
Land, Buildings, and Equipment, Net$12,257$8,898▼ $3,359
Savings and Temporary Cash Investments-$0-
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$1,860,065$2,188,013▲ $327,948
Other Assets Total$1,172,570$1,405,922▲ $233,352
Liabilities
Other Liabilities$991,210$913,098▼ $78,112
Escrow Account Liability$375,000$667,300▲ $292,300
Mortgage Notes Payable Secured by Investment Property$500,000$496,350▼ $3,650
Accounts Payable and Accrued Expenses$80,775$112,995▲ $32,220
Deferred Revenue$40,039$15,656▼ $24,383
Total Liabilities$1,987,024$2,205,399▲ $218,375
Net Assets / Fund Balance
Net Assets With Donor Restrictions$133,165$42,489▼ $90,676
Net Assets Without Donor Restrictions$-260,124$-59,875▲ $200,249
Total Net Assets Fund Balance$-126,959$-17,386▲ $109,573
Total Liabilities and Net Assets / Fund Balance$1,860,065$2,188,013▲ $327,948

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,898$21,438$30,336
Other Assets Org$732,261--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John FernandezSenior VPFT$152,690$28,100$180,790
Pat EastExecutive DirectorFT$142,470$26,696$169,166
Michelle ColeBoard Member-$38,854-$38,854

Board Members and Trustees

NameTitle
Karin St JohnChair
Anne McCombePast Chair
Ravi BhattVice Chair
Adam GrossBoard Member
Ben SwansonBoard Member
Brooke PyneBoard Member
Chelsea LinderBoard Member
Derek WhitleyBoard Member
Donald LukesBoard Member
Eli SerranoBoard Member
Jeana FinlinsonBoard Member
Jen PearlBoard Member
Kerry ThomsonBoard Member
Mike TrotzkeBoard Member
Nate LattimerBoard Member
Rahul ShrivastavBoard Member
Tina PetersonBoard Member
Beka MechSecretary
Cindy KinnarneyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$705,759
Program Service Revenue
$1,076,942
Investment Income
$9,713
Other Revenue
$125,884
All Other Contributions
$153,932
Change in Net Assets
$-99,214

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,918,298
Revenue Not Reported on Form 990
$188,417
Total Revenue per Audited Statements
$2,106,715
Total Revenue per Form 990
$1,918,298
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,186,179
Other Expenses$831,333
Total Fundraising Expense$92,612
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$787,924$44,914$22,458$855,296
Occupancy$191,520$47,303-$238,823
Current Officers, Directors, Trustees, and Key Employees$208,020--$208,020
Payroll Taxes$68,361$3,387$1,692$73,440
Advertising$56,661--$56,661
All Other Expenses$34,730$19,746-$54,476
Information Technology$29,526$19,563$1,006$50,095
Other Employee Benefits$45,954$2,313$1,156$49,423
Other Expenses$1,374$15,615$65,487$16,989
Depreciation Depletion$12,544$3,136-$15,680
Interest-$13,750-$13,750
Fees for Services Other$12,792$670-$13,462
Insurance$5,442$1,360-$6,802
Travel$2,011$1,874$813$4,698
Total Functional Expenses$1,609,541$315,359$92,612$2,017,512

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,017,512
Total Expenses per Audited Statements$2,017,512
Total Expenses per Form 990$2,017,512
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$825,782
Operating lease liability - current$83,666
Note payable - current portion$3,650
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
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). The 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.The City of Bloomington (John Hamilton, Mayor) is the landlord for the building Dimension Mill, Inc. operates. Ravi Bhatt (vice chair & board member) is an investor in the Flywheel Funds, investment funds managed 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. Branchfire, LLC is a recipient of an investment made by the Flywheel Fund, investment funds managed by the Mill. Ravi Bhatt (vice chair & board member) is the co-Founder and chief technology officer of Branchfire, LLC. Cindy Kinnarney (treasurer & 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 Funds, investment funds managed by the Mill, and has consulting arrangements with the Mill to provide investment management services. Derek Whitley (board member), Anne McCombe (past chair), Ravi Bhatt (vice chair & board member), and Rebekah Mech (secretary & board member) are members of the Mill and also rent suites at The Mill. Ivy Tech (Adam Gross, Vice Chancellor) provides monetary and program support for The Mill's Code / IT Academy, and Andy Lehman (Head of Accelerator Programming at The Mill) teaches classes at Ivy Tech.

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 12C

The entity requires all the board members and employees to submit annual conflict of interest statements each year.

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
2024-09-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pat East
Formed
2017
Legal Domicile
In
Voting Board Members
20
Independent Board Members
20
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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