Civic Intelligence

Indy Innovation Challenge Inc

990 • Fiscal year 2023 • EIN 88-1138295

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 25, 2024

Organization Profile
1250 Indiana AveIndianapolis, IN 46202

(317) 695-3110

Siviq Scores

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

Liabilities / Assets

94th percentile

0.81x

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

2023 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

36th percentile

0.20x

Higher debt load relative to revenue than 36% of similar nonprofits.

2023 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2023

Net Margin

48th percentile

4.0%

Higher net margin than 48% of similar nonprofits.

2023 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

17th percentile

$112,500

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2023 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2023

Asset Growth

22nd percentile

-1.5%

Faster asset growth than 22% of similar nonprofits.

2023 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

3rd percentile

-47%

Faster revenue growth than 3% of similar nonprofits.

2023 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$1,314,889

Down $20,263 (-1.5%) from 2022

Net Assets

Up

$252,240

Up $207,707 (+466%) from 2022

Liabilities

Down

$1,062,649

Down $227,970 (-18%) from 2022

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin48th percentile

Revenue

Down

$5,189,966

Down $4,511,402 (-47%) from 2022

Expenses

Down

$4,982,259

Down $4,674,576 (-48%) from 2022

Net Income

Up

$207,707

Up $163,174 (+366%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2022: $1,335,152Liabilities 2022: $1,290,619Net Assets 2022: $44,5332022Assets 2023: $1,314,889Liabilities 2023: $1,062,649Net Assets 2023: $252,2402023Assets 2024: $691,269Liabilities 2024: $1,157,004Net Assets 2024: -$465,7352024

Highlighted filing

2023

Assets$1,314,889
Liabilities$1,062,649
Net Assets$252,240
Open 2023 Filing

Operations Trend

Revenue Growth3rd percentile

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

$10M$5.0M$0-$5.0MRevenue 2022: $9,701,368Expenses 2022: $9,656,835Net Income 2022: $44,5332022Revenue 2023: $5,189,966Expenses 2023: $4,982,259Net Income 2023: $207,7072023Revenue 2024: $6,131,279Expenses 2024: $6,849,254Net Income 2024: -$717,9752024

Highlighted filing

2023

Revenue$5,189,966
Expenses$4,982,259
Net Income$207,707
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 25, 2024
Return Version
2023v5.0
Gross Receipts
$5,189,966
Mission and Program Overview

Mission

Broadly collaborative effort that brings together public-private partnerships and academic institutions to challenge university students around the world to imagine, invent and prove a new generation of automated vehicle software to run fully autonomous racecars and inspire the next generation of stem talent.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$627,975$745,584▲ $117,609
Cash and Non-Interest-Bearing Accounts$707,177$569,305▼ $137,872
Total Assets$1,335,152$1,314,889▼ $20,263
Liabilities
Accounts Payable and Accrued Expenses$1,052,119$824,149▼ $227,970
Mortgage Notes Payable Secured by Investment Property$238,500$238,500→ $0
Total Liabilities$1,290,619$1,062,649▼ $227,970
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$44,533$252,240▲ $207,707
Total Net Assets Fund Balance$44,533$252,240▲ $207,707
Total Liabilities and Net Assets / Fund Balance$1,335,152$1,314,889▼ $20,263
Compensation and Service Providers
Top Officer Pay17th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Paul MitchellPresident/cePT$112,500$112,500

Board Members and Trustees

NameTitle
Chad PittmanDirector
Dave RobertsonDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$652,226
Program Service Revenue
$4,537,740
Investment Income
$0
Other Revenue
$0
All Other Contributions
$652,226
Change in Net Assets
$207,707
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,746,106
Salaries, Compensation, and Employee Benefits$186,153
Grants and Similar Amounts Paid$50,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising---$1,446,673
Travel---$456,995
Other Expenses---$346,485
Occupancy---$137,006
Current Officers, Directors, Trustees, and Key Employees---$112,500
Insurance---$85,495
Information Technology---$84,829
Other Salaries and Wages---$73,653
Fees for Services Other---$58,735
Fees for Services Legal---$47,699
Foreign Grants---$30,000
Fees for Services Accounting---$24,675
Grants to Domestic Orgs---$20,000
Office Expenses---$13,783
Conferences and Meetings---$704
Total Functional Expenses$0$0$0$4,982,259
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of AlabamaTuscaloosa, AL501c3Education$20,000

International Summary

Spending
$30,000

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
EuropeGrant Recipient---$30,000
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
Backup withholding compliance
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Nine twelve institute, inc nine twelve institute, inc president secretary spouse”

Form 990, Page 6, Part VI, Line 11B

“Organization's process to review form 990 organization will implement a policy - to make a copy available to all board members for review and approval.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Indy Innovation Challenge Inc
EIN
88-1138295
Address
1250 INDIANA AVE, INDIANAPOLIS, IN 46202

Signing Officer

Name
Paul Mitchell
Title
President/CEO
Signed
2024-07-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Mitchell
Formed
2022
Legal Domicile
In
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
36

Preparer

Firm
L M Henderson & Company Llp
Address
450 E 96TH ST STE 200, INDIANAPOLIS, IN 46240-3797
Preparer
Gregory D Sigman
Phone
3175661000
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Broadly collaborative effort that brings together public-private partnerships and academic institutions to challenge university students around the world to imagine, invent and prove a new generation of automated vehicle software to run fully autonomous racecars and inspire the next generation of stem talent.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NINE TWELVE INSTITUTE, INC NINE TWELVE INSTITUTE, INC PRESIDENT SECRETARY SPOUSE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION'S PROCESS TO REVIEW FORM 990 ORGANIZATION WILL IMPLEMENT A POLICY - TO MAKE A COPY AVAILABLE TO ALL BOARD MEMBERS FOR REVIEW AND APPROVAL.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PAUL MITCHELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INDY INNOVATION CHALLENGE INC
ReturnHeader/Filer/BusinessNameControlTxt0INDY
ReturnHeader/Filer/EIN0881138295
ReturnHeader/Filer/USAddress/AddressLine1Txt01250 INDIANA AVE
ReturnHeader/Filer/USAddress/CityNm0INDIANAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd046202
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205520612
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0L M HENDERSON & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0450 E 96TH ST STE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0462403797
ReturnHeader/PreparerPersonGrp/PhoneNum03175661000
ReturnHeader/PreparerPersonGrp/PreparationDt02024-07-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GREGORY D SIGMAN
ReturnHeader/ReturnTs02024-08-08T13:20:52-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,314,889
Liabilities
$1,062,649
Net assets
$252,240
Revenue
$5,189,966
Expenses
$4,982,259
Net income
$207,707
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.69$1.16$0.47$6.13$6.85$0.72
2023Detailed filing. Detailed filing data is available for this year.$1.31$1.06$0.25$5.19$4.98$0.21
2022Detailed filing. Detailed filing data is available for this year.$1.34$1.29$0.04$9.70$9.66$0.04