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← THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE FOUNDATION INC

Form 990 for tax year 2022

Filed by THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE FOUNDATION INC.

Totals

Total revenue
$1,837,930
Total expenses
$1,816,135
Contributions and grants received
$1,777,451
Grants paid
$822,608
Program service revenue
$0
Investment income
$10,429
Other revenue
$50,050
Total assets, end of year
$1,481,220
Total liabilities, end of year
$1,378,199
Net assets or fund balances, end of year
$103,021
Program services expenses (Part IX)
$1,816,135
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,816,135

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $950

  • 1f · All other contributions, gifts and grants

    $1,776,501

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $10,429 · excluded $10,429

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $50,050 · related or exempt $50,050 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $50,050

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $822,608 · program services $822,608

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $497 · program services $497

  • 24a · Other expenses: PROJECT AMPLIFY

    total $993,030 · program services $993,030

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $844,289 · end of year $813,679

  • 4 · Accounts receivable

    beginning of year $2,500 · end of year $2,500

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $1,350,233 · end of year $665,041

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $23,911 · end of year $121,085

  • 19 · Deferred revenue

    beginning of year $1,904,995 · end of year $896,616

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $182,187 · end of year $360,498

  • 28 · Net assets with donor restrictions

    beginning of year $85,929 · end of year $103,021

Mission and programs · 2022

Mission

THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE FOUNDATION'S MISSION IS TO ENCOURAGE, AID OR PROMOTE EDUCATIONAL OR CHARITABLE ORGANIZATIONS' ENDEAVORS OR ECONOMIC DEVELOPMENT ACTIVITIES AND TO OPERATE FOR THE BENEFIT OF THE CHARITABLE, EDUCATIONAL AND ECONOMIC DEVELOPMENT PURPOSES OF THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE.

Activities or mission (Part I)

TO ENCOURAGE, AID OR PROMOTE EDUCATIONAL OR CHARITABLE ORGANIZATIONS' ENDEAVORS OR ACTIVITIES AND TO OPERATE FOR THE BENEFIT OF THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE.

  • Educational and Charitable Activities: The Chamber Foundation provides grant funding for the charitable and educational components of the Chamber's mission to improve the viability of the economy and to attract and retain businesses in the Greater Indianapolis area for the benefit of the residents of the area.

    Expenses $1,816,135 · Grants $822,608 · Revenue $50,050

As filed on the 2022 return.

Listed in Part VII

  • LISA Schlehuber

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Connie Bond Stuart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Dennis M Murphy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JAMES Callaghan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JOHN T Neighbours

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John Thompson

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • KRISTIN Mays-Corbitt

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MICHAEL E Bosway

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rob Hillman

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • STEVEN F Walker

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • William D Zink

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Julie Grice

    PRESIDENT

    Total calculated
    $211,396
    From this org
    $0
    From related orgs
    $181,183
    Other
    $30,213
    Hours/week
    12 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $157,040 related
    Bonus
    $0 + $23,625 related
    Other
    $0 + $518 related
    Deferred
    $0 + $8,269 related
    Nontaxable benefits
    $0 + $21,944 related
    Filer's total
    $0 + $211,396 related

  • Michael Huber

    President/CEO (UNTIL 10/14/22)

    Total calculated
    $407,411
    From this org
    $0
    From related orgs
    $370,795
    Other
    $36,616
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $271,297 related
    Bonus
    $0 + $99,099 related
    Other
    $0 + $399 related
    Deferred
    $0 + $13,947 related
    Nontaxable benefits
    $0 + $22,669 related
    Filer's total
    $0 + $407,411 related

  • Vandana Kapur

    Chief Financial Officer

    Total calculated
    $247,637
    From this org
    $0
    From related orgs
    $203,823
    Other
    $43,814
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $175,853 related
    Bonus
    $0 + $27,452 related
    Other
    $0 + $518 related
    Deferred
    $0 + $10,981 related
    Nontaxable benefits
    $0 + $32,833 related
    Filer's total
    $0 + $247,637 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE FOUNDATION SHARES MANAGEMENT WITH THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE (GICC). GICC USES THE FOLLOWING TO DETERMINE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL: COMPENSATION COMMITTEE, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • Greater Indianapolis Chamber of Commerce

    $774,133

    PROJECT AMPLIFY

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • INDY CHAMBER LLC

    C Corporation · INSURANCE · IN · 0% owned

    Directly controlled by GREATER INDIANAPOLIS CHAMBER OF COMMERCE

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202303189349318975

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