Business Ownership Initiative Of Indiana Inc
- Assets
- $9.8m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 9
- Location
- Indianapolis, IN
- Founding
- 03/1998
- Data as of
- 12/2021
- EIN
- 35-2028160
Organization Overview
Business Ownership Initiative Of Indiana Inc, operating under the name Business Ownership Initiative of Indiana Inc, is located in Indianapolis, IN. The organization was established in 1998. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Business Ownership Initiative of Indiana Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Business Ownership Initiative of Indiana 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 12/2021, Business Ownership Initiative of Indiana Inc generated $1.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO HELP INDIVIDUALS GROW AND LAUNCH THEIR OWN BUSINESS THROUGH FREE ONE-TO-ONE COACHING, WORKSHOPS AND ACCESS TO CAPITAL IN CENTRAL INDIANA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BUSINESS OWNERSHIP INITIATIVE (BOI), LOCATED IN INDIANAPOLIS, HELPS CENTRAL INDIANA RESIDENTS START & GROW BUSINESSES BY PROVIDING BUSINESS RESOURCES, BUSINESS COACHING AND ACCESS TO FINANCING. WHETHER YOU ARE A FIRST TIME ENTREPRENEUR, DEVELOPING A PLAN FOR A STARTUP BUSINESS OR A SMALL BUSINESS VETERAN LOOKING FOR A SMALL BUSINESS LOAN, BOI CAN HELP. BOI'S SERVICES INCLUDE THE FOLLOWING: ENTREPRENEURIAL SERVICES FOR WOMEN: THE CENTRAL INDIANA WOMEN'S BUSINESS CENTER (CIWBC) IS A COOPERATIVE PROGRAM THAT PARTNERS WITH THE U.S. SMALL BUSINESS ADMINISTRATION (SBA) TO PROMOTE THE CREATION AND GROWTH OF BUSINESSES BY WOMEN ENTREPRENEURS, PROVING EDUCATION BUSINESS RESOURCES, AND ACCESS TO CAPITAL. BUSINESS COACHING AND TRAINING: BOI PROVIDES ONE-ON-ONE, PERSONALIZED BUSINESS COACHING FREE OF CHARGE. BOI ALSO OFFERS BUSINESS TRAINING WORKSHOPS AND ONLINE BUSINESS COURSES TO EDUCATE ENTREPRENEUR AND SMALL BUSINESS OWNERS ON A VARIETY OF BUSINESS RELATED TOPICS FROM MARKETING TO CASH FLOW ANALYSIS. OUR BUSINESS COACHES ARE QUALIFIED INDIVIDUALS WHO HELP OUR CLIENTS MOVE FORWARD AND CREATE SUCCESS. THIS FREE SERVICE IS PROVIDED BY STAFF, CONTRACTORS, AND VOLUNTEERS. BUSINESS COACHING IS ALSO AVAILABLE IN SPANISH AND IS PROVIDED DUE TO THE GENEROUS SUPPORT OF THE CLOWES FUND, INC. SMALL BUSINESS LENDING: BOI OFFERS MICRO LOANS FROM $1,000-$100,000+ FOR AVAILABLE START-UPS OR EXISTING BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $723,547 |
| All other contributions, gifts, grants, and similar amounts not included above | $167,231 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $890,778 |
| Total Program Service Revenue | $447,944 |
| Investment income | $2,546 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,053 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,342,321 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $314,240 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $745,781 |
| Pension plan accruals and contributions | $15,930 |
| Other employee benefits | $128,615 |
| Payroll taxes | $47,939 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $881 |
| Fees for services: Other | $163,107 |
| Advertising and promotion | $26,693 |
| Office expenses | $41,274 |
| Information technology | $66,352 |
| Royalties | $0 |
| Occupancy | $32,293 |
| Travel | $1,237 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $67,309 |
| Interest | $7,053 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,695,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,032,299 |
| Pledges and grants receivable | $348,672 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,464,170 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $578 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,845,719 |
| Accounts payable and accrued expenses | $59,649 |
| 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 | $6,506,798 |
| Total liabilities | $6,566,447 |
| Net assets without donor restrictions | $605,555 |
| Net assets with donor restrictions | $2,673,717 |
| 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 | $9,845,719 |
Grants Awarded
Over the last fiscal year, Business Ownership Initiative Of Indiana Inc has awarded $27,093,576 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
HELP (HOSPITALITY ESTABLISHMENT LIFELINE PAYMENT) GRANTS PURPOSE: RENT/MORTGAGE ASSISTANCE (COVID) | $10,682,435 |
HELP (HOSPITALITY ESTABLISHMENT LIFELINE PAYMENT) GRANTS PURPOSE: RENT/MORTGAGE ASSISTANCE (COVID) | $10,682,435 |
READY TO RESTART PURPOSE: COVID ASSISTANCE/PPE | $2,649,326 |
READY TO RESTART PURPOSE: COVID ASSISTANCE/PPE | $2,649,326 |
MUSIC VENUE GRANTS PURPOSE: COVID RECOVERY | $215,027 |
MUSIC VENUE GRANTS PURPOSE: COVID RECOVERY | $215,027 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Business Ownership Initiative Of Indiana Inc has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kentucky River Foothills Development Council Inc Richmond, KY | $12,381,295 | $19,871,173 |
Community Action Of Southern Kentucky Incorporated Bowling Green, KY | $10,381,389 | $18,999,181 |
Northern Kentucky Community Action Commisson Inc Covington, KY | $8,823,439 | $18,121,235 |
Embarras River Basin Agency Inc Greenup, IL | $2,961,671 | $18,793,359 |
Jefferson Franklin Community Action Corporation Hillsboro, MO | $6,544,452 | $18,340,130 |
Tri-County Opportunities Council Rock Falls, IL | $4,101,390 | $18,238,868 |
Inner-City Muslim Action Network Chicago, IL | $22,441,569 | $25,574,850 |
Will County Center For Community Concerns Inc Joliet, IL | $2,259,108 | $13,384,526 |
South Central Missouri Community Action Agency Winona, MO | $9,962,741 | $13,195,865 |
West Central Wisconsin Community Action Agency Inc Glenwood City, WI | $21,268,900 | $13,007,959 |
Community Action Coaltion For South Central Wisconsin Inc Madison, WI | $4,809,920 | $12,236,312 |
Community Action Agency Of St Louis County Inc Overland, MO | $8,798,142 | $11,519,810 |