Near East Area Renewal Inc
- Assets
- $5.1m
- Revenue
- $993.9k
- Investments
- $0.0
- Employees
- 4
- Location
- Indianapolis, IN
- Founding
- 01/2004
- Data as of
- 06/2022
- EIN
- 20-0146547
Organization Overview
Near East Area Renewal Inc is located in Indianapolis, IN. The organization was established in 2004. According to its NTEE Classification (L81) the organization is classified as: Home Improvement & Repairs, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Near East Area Renewal Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Near East Area Renewal Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Near East Area Renewal Inc generated $993.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $730.5k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FROM HOME RENOVATIONS AND ENERGY AUDITS TO COMMUNITY OUTREACH AND EDUCATION, NEAR IS WORKING TO MAKE THE NEAR EASTSIDE OF INDIANAPOLIS EVEN BETTER. WE WORK WITH HOMEOWNERS, COMMUNITY LEADERS, AND RESIDENTS TO ENSURE THE DEVELOPMENT OF SAFE AND AFFORDABLE HOUSING, WHILE ENSURING THAT OUR NEIGHBORHOODS THRIVE. GENUINE COMMUNITY AMONG DIVERSE AND EMPOWERED NEIGHBORS IS OUR PRIMARY GOAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSEMBLING AND COORDINATING RESOURCES TO ACQUIRE AND REHABILITATE SINGLE FAMILY HOMES ON THE NEAR EAST SIDE OF INDIANAPOLIS, FOR THE ULTIMATE SALE OR RENTAL TO ELIGIBLE FAMILIES.
COMMUNITY AND ECONOMIC DEVELOPMENT: NEAR FOCUSES ON ATTRACTING AND SUPPORTING BUSINESSES THAT WOULD SERVE AND EMPLOY THE COMMUNITY'S LOW-INCOME RESIDENTS AND SUPPORT LOCAL LOW-INCOME ENTREPRENEURS. NEAR ALSO WORKS WITH OTHER ORGANIZATIONS ON DEVELOPMENT PROJECTS TO FURTHER ENHANCE THE NEAR EAST COMMUNITY. THESE EFFORTS INCLUDE LANDSCAPING AND BEAUTIFICATION OF THE PAYNE GATEWAY, COORDINATING A GREENSPACE PRESERVATION PROGRAM, DEVELOPING NEARINDYGUIDE.ORG TO PROMOTE LOCAL BUSINESSES, IMPLEMENTING ART PROJECTS DESIGNED BY NEAR EAST AREA TEAMS, PROVIDING TECHNICAL AND MARKETING RESOURCES TO LOCAL BUSINESSES, AS WELL AS THE SHERMAN PARK PROJECT AND THE MINNIE HARTMANN CENTER PROJECT. NEAR COORDINATED THE EFFORTS OF ENGAGING NEIGHBORS TO PLAN FOR THE REUSE OF A 50-ACRE BROWNFIELD IN SHERMAN PARK. NEAR HAS PARTNERED WITH OTHER ORGANIZATIONS TO TRANSFORM INDIANAPOLIS PUBLIC SCHOOL 78, THE MINNIE HARTMANN ELEMENTARY SCHOOL, INTO A CENTER OFFERING SAFE, AFFORDABLE HOUSING FOR SENIORS AND FULL-DAY CHILD DAYCARE FOR CHILDREN AGED SIX WEEKS TO FIVE YEARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Franklin Hay Executive Director | Officer | 40 | $74,726 |
Gregory Touney Chair/president | OfficerTrustee | 3 | $0 |
Jonathan Ehlke Vice Chair/vice President | OfficerTrustee | 3 | $0 |
Emel Sener Treasurer | OfficerTrustee | 3 | $0 |
Desma Belsaas Director | Trustee | 1 | $0 |
Josh Anderson Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Steven R Keller Construction Construction | 6/29/22 | $432,066 |
Carley Custom Builders Construction | 6/29/22 | $359,791 |
Reynolds Construction Inc Construction | 6/29/22 | $152,660 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $20,327 |
| Related organizations | $0 |
| Government grants | $674,510 |
| All other contributions, gifts, grants, and similar amounts not included above | $255,528 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $950,365 |
| Total Program Service Revenue | $27,730 |
| Investment income | $765 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$24,892 |
| Net Income from Fundraising Events | -$368 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $993,916 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $87,688 |
| Compensation of current officers, directors, key employees. | $17,538 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $238,217 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,360 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $949 |
| Fees for services: Accounting | $56,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,107 |
| Advertising and promotion | $0 |
| Office expenses | $5,177 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,103 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21,421 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,117 |
| Insurance | $18,818 |
| All other expenses | $1,500 |
| Total functional expenses | $730,514 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $779,345 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $343,571 |
| Accounts receivable, net | $12,103 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,562 |
| Net Land, buildings, and equipment | $1,892,486 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,072,498 |
| Total assets | $5,123,565 |
| Accounts payable and accrued expenses | $295,327 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $331,473 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $938 |
| Total liabilities | $627,738 |
| Net assets without donor restrictions | $4,388,236 |
| Net assets with donor restrictions | $107,591 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,123,565 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Near East Area Renewal Inc has recieved totaling $173,275.
| Awarding Organization | Amount |
|---|---|
Indianapolis Neighborhood Housing Partnership Inc Indianapolis, IN PURPOSE: CORE OPERATING SUPPORT | $150,000 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $23,275 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Milwaukee Christian Center Inc Milwaukee, WI | $3,288,591 | $4,601,547 |
Nari Milwaukee Inc Wauwatosa, WI | $1,527,248 | $1,389,578 |
Revitalize Milwaukee Inc Milwaukee, WI | $1,980,667 | $1,764,103 |
Home Improvement Research Institute Indianapolis, IN | $972,708 | $1,192,557 |
Historic Chicago Bungalow Association Chicago, IL | $757,269 | $1,174,600 |
Near East Area Renewal Inc Indianapolis, IN | $5,123,565 | $993,916 |
Rebuilding Together Kansas City Inc Liberty, MO | $1,242,933 | $1,469,790 |
Mountain Outreach Program Inc Williamsburg, KY | $1,168,702 | $1,057,977 |
Urban Ranger Corps Kansas City, MO | $928,023 | $587,166 |
Missouri Energycare Inc St Louis, MO | $303,391 | $538,688 |
Rebuilding Together--Fox Valley Inc Appleton, WI | $476,704 | $438,095 |
Rebuilding Together St Joseph County Inc South Bend, IN | $296,260 | $261,126 |