Insight Development Corporation
- Assets
- $86.1m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 1
- Location
- Indianapolis, IN
- Founding
- 12/1999
- Data as of
- 12/2020
- EIN
- 35-2030346
Organization Overview
Insight Development Corporation is located in Indianapolis, IN. The organization was established in 1999. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Insight 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 12/2020, Insight Development Corporation generated $6.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 38.2% each year . All expenses for the organization totaled $11.4m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
INSIGHT DEVELOPMENT CORPORATION FOSTERS LOW-INCOME HOUSING IN AND AROUND INDIANAPOLIS, INDIANA AND THE SURROUNDING COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSIGHT DEVELOPMENT CORPORATION EXPANDS THE SUPPLY OF AVAILABLE LOW-COST HOUSING ACCOMODATIONS BY CONSTRUCTING, REHABILITATING, AND FUNDING THE FINANCING OF DECENT, SAFE, AND SANITARY HOUSING IN INDIANAPOLIS, INDIANA FOR PERSONS AND FAMILIES OF LOW INCOME WHO OTHERWISE WOULD NOT BE ABLE TO FIND OR AFFORD A SUITABLE PLACE TO LIVE. TOGETHER WITH INDIANAPOLIS HOUSING AGENCY, THE ORGANIZATION HELPS 2,000 FAMILIES EACH YEAR FIND QUALITY AND AFFORDABLE HOUSING IN ONE OF SEVERAL NEIGHBORHOODS THROUGHOUT THE CITY OF INDIANAPOLIS, INDIANA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Esther Carter-Day Chairwoman | OfficerTrustee | 1 | $0 |
Karen Washington Vice Chairwoman | OfficerTrustee | 1 | $0 |
John E Hall President | OfficerTrustee | 1 | $0 |
Will Zink Treasurer | Trustee | 1 | $0 |
Michael Allen Secretary | Trustee | 1 | $0 |
Rob Evans Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,621,556 |
| 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 | $1,621,556 |
| Total Program Service Revenue | $0 |
| Investment income | $20,815 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,942,426 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,705,659 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,543,490 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,776,342 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $11,400,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,490,087 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $623,169 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,961,532 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $769,795 |
| Net Land, buildings, and equipment | $74,124,975 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,084,846 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $86,054,404 |
| Accounts payable and accrued expenses | $1,639,908 |
| 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 | $17,745,314 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $37,628,365 |
| Total liabilities | $57,013,587 |
| Net assets without donor restrictions | $0 |
| 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 | $29,040,817 |
| Total liabilities and net assets/fund balances | $86,054,404 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Insight Development Corporation has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Indianapolis Neighborhood Housing Partnership Inc Indianapolis, IN PURPOSE: GENERAL GRANT DISBURSEMENT | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Future Wisconsin Housing Fund Inc Middleton, WI | $105,291,826 | $25,347,927 |
Beyond Housing Inc Pine Lawn, MO | $38,518,173 | $15,419,086 |
Insight Development Corporation Indianapolis, IN | $86,054,404 | $6,705,659 |
Center For Veterans Issues Inc Milwaukee, WI | $5,642,001 | $8,532,002 |
Full Circle Communities Inc Chicago, IL | $146,223,116 | $65,892,596 |
Heartland Housing Inc Chicago, IL | $62,362,364 | $6,250,781 |
Habitat For Humanity International Inc Wheaton, IL | $6,181,970 | $4,027,950 |
Housing Oriented Ministries Established For Services Inc Whitesburg, KY | $4,625,979 | $1,907,969 |
Heartland Independent Living Center Owensville, MO | $2,130,293 | $2,069,322 |
Hamilton County Area Neighborhood Development Inc Noblesville, IN | $13,954,467 | $2,220,714 |
Community One Inc Evansville, IN | $1,463,104 | $1,126,647 |
The Housing Partnership Inc St Louis, MO | $1,880,533 | $971,666 |