Riley Area Development Corporation
- Assets
- $8.1m
- Revenue
- $357.4k
- Investments
- $0.0
- Employees
- 3
- Location
- Indianapolis, IN
- Founding
- 08/1979
- Data as of
- 12/2022
- EIN
- 31-0963438
Organization Overview
Riley Area Development Corporation is located in Indianapolis, IN. The organization was established in 1979. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Riley Area Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riley Area Development Corporation 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 12/2022, Riley Area Development Corporation generated $357.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (20.7%) each year. All expenses for the organization totaled $755.7k during the year ending 12/2022. 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
THE MISSION OF RILEY AREA DEVELOPMENT CORPORATION IS TO DEVELOP AND SUPPORT A SUSTAINABLE COMMUNITY ENVIRONMENT IN AND AROUND DOWNTOWN INDIANAPOLIS THROUGH AFFORDABLE HOUSING, ECONOMIC DEVELOPMENT, HEALTHY PUBLIC SPACE AND COMMUNITY DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REDEVELOPMENT OF CERTAIN AREAS OF INDIANAPOLIS TO PROVIDE BENEFITS TO CURRENT AND FUTURE RESIDENTS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walter Freihofer Chair | OfficerTrustee | 3 | $0 |
Kathy Overbey Secretary | Trustee | 1 | $0 |
Janine Betsey Director | Trustee | 1 | $0 |
Mj Trujillo Director | Trustee | 1 | $0 |
Kathleen Lara Director | Trustee | 1 | $0 |
Tom Marendt Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $71,854 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $25,730 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $97,584 |
| Total Program Service Revenue | $292,450 |
| Investment income | $88 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$110,664 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $357,362 |
| 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. | $32,692 |
| Compensation of current officers, directors, key employees. | $8,713 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,645 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,640 |
| Payroll taxes | $9,902 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $63,548 |
| Fees for services: Accounting | $17,798 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $67,511 |
| Advertising and promotion | $23,600 |
| Office expenses | $2,296 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,005 |
| Travel | $4,844 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $33,479 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $117,268 |
| Insurance | $17,923 |
| All other expenses | $11,977 |
| Total functional expenses | $755,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,344 |
| Savings and temporary cash investments | $33,975 |
| Pledges and grants receivable | $20,000 |
| Accounts receivable, net | $45,892 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,380,118 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,584,731 |
| Total assets | $8,104,060 |
| Accounts payable and accrued expenses | $86,965 |
| Grants payable | $39,000 |
| 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 | $1,079,421 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $335 |
| Total liabilities | $1,205,721 |
| Net assets without donor restrictions | $6,898,339 |
| Net assets with donor restrictions | $0 |
| 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 | $8,104,060 |