Indy Gateway Inc
- Assets
- $751.7k
- Revenue
- $215.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- 09/2015
- Data as of
- 12/2023
- EIN
- 47-3583307
Organization Overview
Indy Gateway Inc is located in Indianapolis, IN. The organization was established in 2015. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indy Gateway 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, Indy Gateway Inc generated $215.3k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 27.9% each year . All expenses for the organization totaled $171.1k during the year ending 12/2023. While expenses have increased by 37.3% per year over the past 8 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
INDY GATEWAY WAS CREATED FOR AND ITS PRIMARY OBJECTIVE IS TO IMPROVE ECONOMIC DEVELOPMENT AND COMMUNITY DEVELOPMENT. THE PURPOSES INCLUDE PROMOTING ECONOMIC GROWTH, INCREASING OPPORTUNITIES FOR THE REVITALIZATION OF NEIGHBORHOODS, AND MAKING THE WEST SIDE OF INDIANAPOLIS A PLACE WHERE FAMILIES WANT TO LIVE, WORK AND PLAY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUSING INDY GATEWAY CONTINUES TO BUILD DESPITE SLOWDOWNS IN BUILDING SCHEDULES. THE PROGRAM CONTINUES AND WE ARE CURRENTLY BUILDING A HOUSE AT 315 VINE AND THE AREA 31 CONSTRUCTION TRADES STUDENT STARTED BACK UP THEIR BUILDING AT 307 VINE. IN ADDITION, WE ACQUIRED 2710 TAFT AVENUE FROM US BANK FOR CLOSING COSTS AND THEY PROVIDED A DONATION TO ASSIST IN THE DEMO OF THE HOUSE AS IT IS UNSALVAGEABLE IN ITS CURRENT STATE. WE ARE PLANNING ON PUTTING ALL THESE HOUSES ON THE MARKET BY THE END OF 2024 FOR QUALIFIED HOMEBUYERS AND TURN THESE AREA LIABILITIES INTO TAX GENERATING PROPERTIES THAT WILL BENEFIT OUR LOCAL ENTITIES AND IMPROVE THE NEIGHBORHOOD AND BUILT IN FEDERALLY DESIGNATED LOW AND MODERATE-INCOME AREAS. THE OBJECTIVE WAS TO BUILD AND FINISH VINE, BUT MANY FACTORS CAUSED ITS DELAY.
INDY GATEWAY BOARD OF DIRECTORS APPROVED FUNDING FOR PROFESSIONAL SERVICES FOR THE DESIGN OF A CHAPEL ROCK TRAILHEAD. THIS PROJECT IS A PARTNERSHIP WITH CHAPEL ROCK CHRISTIAN CHURCH AND THE B&O TRAIL ASSOCIATION (BOTA). THE PLAN WILL COMPLEMENT THE DEVELOPMENT TAKING PLACE THROUGH THE NEXT LEVEL TRAIL GRANT AWARDED BY THE STATE OF INDIANA TO THE B&O TRAIL ASSOCIATION AND PROVIDE FOR THE FOLLOWING:- TRAIL NODE AND PAVED PATH CONNECTION ON BOTA PROPERTY (PATH NOT COVERED UNDER NEXT LEVEL TRAIL GRANT)- TRAILHEAD PLAZA AND PATH CONNECTION ON CHURCH PROPERTY- TRAILHEAD IDENTITY SIGN- DIRECTIONAL SIGN AT CHURCH ENTRY AREASFUNDING FOR CONSTRUCTION IS BEING RAISED AND SOME DONATIONS WERE REALIZED IN 2023. THE PLAN ALSO PREPARES THE SITE FOR FUTURE TRAILHEAD EXPANSION TO INCLUDE A SHELTER AND ADDITIONAL AMENITIES SUCH AS MORE SEATING, LITTER RECEPTACLE AND BIKE RACKS.BOTA WILL HAVE THE FINAL BIDS EARLY 2024 WITH CONSTRUCTION PLANNED FOR THE TRAIL IN LATE 2024. THIS DESIGN WILL BE PART OF THE CONSTRUCTION BID PACKAGE WITH BOTA AS AN "ADD ON" AS IT IS NOT COVERED BY THE NEXT LEVEL TRAIL GRANT FUNDS THAT BOTA HAS RECEIVED.THE OBJECTIVE WAS TO BEGIN DESIGN AND START RAISING FUNDS FOR THE CONSTRUCTION OF THE TRAILHEAD. EXPENSES IN 2023 WERE PAID FROM OUR CARRIER FUND.
OUR THIRD OBJECTIVE WAS SHELTON HEIGHTS PARK FUNDRAISING FOR CONTINUED MAINTENANCE OF THE PARK. THE PINTS FOR PARK EVENT WAS HELD IN SEPTEMBER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Troy Brosseau President | OfficerTrustee | 1 | $0 |
Jeffrey K Butts President Elect | OfficerTrustee | 1 | $0 |
Guy Finn Treasurer | OfficerTrustee | 1 | $0 |
Renee Pack Secretary | OfficerTrustee | 1 | $0 |
Michelle Bodem Director | Trustee | 1 | $0 |
Timothy Brown Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $45,167 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $176,259 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $221,426 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$8,511 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $215,266 |
| 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 | $70,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,410 |
| 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 | $847 |
| Information technology | $1,250 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,653 |
| Insurance | $1,161 |
| All other expenses | $0 |
| Total functional expenses | $171,082 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $357,443 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $117,927 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $276,335 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $751,705 |
| Accounts payable and accrued expenses | $1,357 |
| Grants payable | $0 |
| Deferred revenue | $40,516 |
| 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 | $0 |
| Total liabilities | $41,873 |
| Net assets without donor restrictions | $644,704 |
| Net assets with donor restrictions | $65,128 |
| 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 | $751,705 |