Indianapolis Rowing Center Inc
- Assets
- $611.4k
- Revenue
- $831.3k
- Investments
- $0.0
- Employees
- 10
- Location
- Indianapolis, IN
- Founding
- 06/1989
- Data as of
- 12/2023
- EIN
- 35-1760690
Organization Overview
Indianapolis Rowing Center Inc is located in Indianapolis, IN. The organization was established in 1989. According to its NTEE Classification (N68) the organization is classified as: Winter Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Indianapolis Rowing Center Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indianapolis Rowing Center 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 12/2023, Indianapolis Rowing Center Inc generated $831.3k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $782.9k during the year ending 12/2023. While expenses have increased by 17.4% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE INDIANAPOLIS ROWING CENTER, INC. ("IRC") IS A NON-PROFIT ORGANIZATION DEDICATED TO DEVELOPING YOUTH AND ADULTS OF ALL SOCIAL AND ECONOMIC BACKGROUNDS THROUGH THE SPORT OF ROWING BY PROVIDING EXPERIENCED AND KNOWLEDGEABLE INSTRUCTION, A VARIETY OF SKILL-ENHANCING PROGRAMS, AND WORLD-CLASS FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDIANAPOLIS ROWING CENTER HOSTS EVENTS TO GENERATE REVENUE. THE ORGANIZATION HOSTS EVENTS THAT ARE OPEN TO HIGH SCHOOLS, MASTERS ORGANIZATIONS, AND COLLEGIATE ORGANIZATIONS; SOME ARE NATIONAL OR REGIONAL CHAMPIONSHIPS.
REGATTA --THE INDIANAPOLIS ROWING CENTER HOSTS MULTIPLE REGATTA EVENTS THROUGHOUT THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sam Knauss Program Dire | Officer | 40 | $50,575 |
Angelia Thorpe Executive Di | Officer | 40 | $47,050 |
Denise Bain Director | Trustee | 1 | $0 |
Megan Barr Director | Trustee | 1 | $0 |
Tracy Barta Director | Trustee | 1 | $0 |
Larry Bechtel Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $295,239 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $23,849 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $319,088 |
| Total Program Service Revenue | $498,770 |
| Investment income | $3,828 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $9,600 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $831,286 |
| 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. | $97,626 |
| Compensation of current officers, directors, key employees. | $48,813 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $86,467 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,695 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,079 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,031 |
| Advertising and promotion | $943 |
| Office expenses | $4,983 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $591 |
| Travel | $571 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $115,175 |
| Insurance | $17,249 |
| All other expenses | $23,347 |
| Total functional expenses | $782,884 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,420 |
| Savings and temporary cash investments | $191,917 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,164 |
| 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 | $339,903 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32 |
| Total assets | $611,436 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $60,580 |
| Total liabilities | $60,580 |
| Net assets without donor restrictions | $550,856 |
| 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 | $611,436 |