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Nonprofiteer
← NEAR EAST AREA RENEWAL INC

Form 990 for tax year 2023

Filed by NEAR EAST AREA RENEWAL INC.

Totals

Total revenue
$439,412
Total expenses
$708,762
Contributions and grants received
$257,137
Grants paid
$0
Program service revenue
$0
Investment income
$140,158
Other revenue
$42,117
Total assets, end of year
$4,315,445
Total liabilities, end of year
$235,843
Net assets or fund balances, end of year
$4,079,602
Program services expenses (Part IX)
$529,557
Management and general expenses
$160,710
Fundraising expenses
$18,495
Program service expenses (Part III)
$529,557

Program services were 74.7% 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.

  • 1c · Fundraising events

    $21,987

  • 1e · Government grants (contributions)

    $78,597

  • 1f · All other contributions, gifts and grants

    $156,553

  • 3 · Investment income

    total $30,528 · excluded $30,528

  • 6a · Gross rents

    real property $41,840

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $41,840

  • 6d · Net rental income or loss

    total $41,840 · related or exempt $41,840

  • 7a · Gross sales of assets other than inventory

    other assets $207,955

  • 7b · Less cost or other basis and sales expenses

    other assets $98,325

  • 7c · Gain or loss

    other assets $109,630

  • 7d · Net gain or loss

    total $109,630 · excluded $109,630

  • 8a · Fundraising events: gross income

    $4,223

  • 8a · Fundraising events: contributions included on line 1c

    $21,987

  • 8b · Fundraising events: direct expenses

    $4,362

  • 8c · Net income from fundraising events

    total -$139 · excluded -$139

  • 11a · Other revenue: MISC. INCOME

    total $416 · related or exempt $416

  • 11e · Other revenue, total

    $416

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $91,664 · program services $59,582 · management and general $18,333 · fundraising $13,749

  • 7 · Other salaries and wages

    total $208,529 · program services $157,726 · management and general $50,274 · fundraising $529

  • 9 · Other employee benefits

    total $64,191 · program services $47,390 · management and general $15,008 · fundraising $1,793

  • 11c · Fees: accounting

    total $56,340 · management and general $56,340

  • 11g · Fees: other

    total $57,460 · program services $52,842 · management and general $2,259 · fundraising $2,359

  • 13 · Office expenses

    total $8,576 · program services $3,553 · management and general $4,958 · fundraising $65

  • 16 · Occupancy

    total $19,912 · program services $13,275 · management and general $6,637

  • 20 · Interest

    total $1,981 · program services $1,321 · management and general $660

  • 22 · Depreciation, depletion and amortization

    total $79,209 · program services $76,445 · management and general $2,764

  • 23 · Insurance

    total $23,443 · program services $21,086 · management and general $2,357

  • 24a · Other expenses: PROJECT EXPENSES

    total $73,724 · program services $73,724

  • 24b · Other expenses: TAXES AND FEES

    total $19,846 · program services $19,846

  • 24c · Other expenses: MISCELLANEOUS

    total $3,887 · program services $2,767 · management and general $1,120

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $1,249

  • 2 · Savings and temporary cash investments

    beginning of year $1,022,990 · end of year $729,742

  • 3 · Pledges and grants receivable

    beginning of year $324,390 · end of year $128,200

  • 4 · Accounts receivable

    beginning of year $25,000 · end of year $6,723

  • 9 · Prepaid expenses and deferred charges

    beginning of year $26,432 · end of year $18,924

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

    $2,543,190

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

    $346,895

  • 10c · Land, buildings and equipment, net

    beginning of year $1,994,193 · end of year $2,196,295

  • 15 · Other assets

    beginning of year $1,255,565 · end of year $1,234,312

  • 17 · Accounts payable and accrued expenses

    beginning of year $239,975 · end of year $186,795

  • 23 · Secured mortgages and notes payable

    beginning of year $58,982 · end of year $48,627

  • 25 · Other liabilities

    beginning of year $661 · end of year $421

  • 27 · Net assets without donor restrictions

    beginning of year $4,241,978 · end of year $4,073,738

  • 28 · Net assets with donor restrictions

    beginning of year $106,974 · end of year $5,864

Mission and programs · 2023

Mission

NEAR DEVELOPS COMMUNITY BY CREATING GREAT PLACES WITH NEIGHBORS. WE EXPRESS THIS MISSION THROUGH EQUITABLE HOUSING, NEIGHBORHOOD RENEWAL, CREATIVE PLACEMAKING, ECONOMIC DEVELOPMENT, AND ENVIRONMENTAL JUSTICE. WE WORK WITH NEIGHBORS AND BRING PEOPLE TOGETHER TO ADDRESS LOCAL QUALITY OF LIFE CHALLENGES.

Activities or mission (Part I)

NEAR EAST AREA RENEWAL ("NEAR") DEVELOPS COMMUNITY BY CREATING GREAT PLACES WITH NEIGHBORS. WE EXPRESS THIS MISSION THROUGH EQUITABLE HOUSING, NEIGHBORHOOD RENEWAL, CREATIVE PLACEMAKING, ECONOMIC DEVELOPMENT, AND ENVIRONMENTAL JUSTICE. WE WORK WITH NEIGHBORS AND BRING PEOPLE TOGETHER TO ADDRESS LOCAL QUALITY OF LIFE CHALLENGES.

  • ACQUIRE AND REHABILITATE HOMES: ASSEMBLING AND COORDINATING RESOURCES TO ACQUIRE AND REHABILITATE SINGLE FAMILY HOMES ON THE NEAR EAST SIDE OF INDIANAPOLIS, FOR THE ULTIMATE SALE TO ELIGIBLE FAMILIES.

    Expenses $265,215 · Revenue $42,256

  • COMMUNITY AND ECONOMIC DEVELOPMENT: NEAR FOCUSES ON ATTRACTING AND SUPPORTING BUSINESSES THAT WOULD SERVE AND EMPLOY THE COMMUNITY'S LOW-INCOME RESIDENTS AND SUPPORT LOCAL LOW-INCOME ENTREPRENEURS. TO DATE, NEAR HAS BUILT OR REDEVELOPED 122 SINGLE-FAMILY HOMES ON THE NEAR EAST SIDE OF INDIANAPOLIS. NEAR ALSO WORKS WITH OTHER ORGANIZATIONS ON DEVELOPMENT PROJECTS TO FURTHER ENHANCE THE NEAR EAST COMMUNITY. THESE EFFORTS INCLUDE LANDSCAPING AND BEAUTIFICATION OF THE PAYNE GATEWAY, COORDINATING A GREENSPACE PRESERVATION PROGRAM, DEVELOPING NEARINDYGUIDE.ORG TO PROMOTE LOCAL BUSINESSES, IMPLEMENTING ART PROJECTS DESIGNED BY NEAR EAST AREA TEAMS, PROVIDING TECHNICAL AND MARKETING RESOURCES TO LOCAL BUSINESSES. NEAR CONTINUES TO COORDINATE THE EFFORTS OF ENGAGING NEIGHBORS TO PLAN FOR THE REUSE OF A 50-ACRE BROWNFIELD IN SHERMAN PARK. NEAR ALSO OWNS THE MINNIE HARTMANN CENTER THAT OFFERS SAFE, AFFORDABLE HOUSING FOR SENIORS AND FULL-DAY CHILD DAYCARE FOR CHILDREN AGED SIX WEEKS TO FIVE YEARS.

    Expenses $264,342

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • RACHEL CHAPPELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOSH ANDERSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RENEE DAVIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DESMA BELSAAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL GOMEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • EMILY DUNCAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MATTHEW KAERCHER

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • ANDY KIENLE

    VICE CHAIR/VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • JULIE SMITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARISOL GOUVEIA

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • AMANDA WISHIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • EMEL SENER

    CHAIR/PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • JOHN FRANKLIN HAY

    EXECUTIVE DIRECTOR

    Total calculated
    $86,347
    From this org
    $79,351
    From related orgs
    $0
    Other
    $6,996
    Hours/week
    40

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.

Grants on this return

No itemized grants to organizations on this return.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • INSPIRE 10TH STREET LLC

    RELATED · REAL ESTATE DEVELOPMENT · IN · 30% owned · share of income -$886 · share of assets -$14,127

Related corporations and trusts

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

  • SCSA INC

    C · LOW-INCOME HOUSING · IN · 50% owned · share of income -$33 · share of assets -$162

  • MINNIE HARTMANN CENTER GP LLC

    C · SENIOR HOUSING · IN · 100% owned · share of income -$42 · share of assets -$254

Provenance

Return type
form_990
Tax year
2023
Filed
2 December 2024
IRS schema version
2023v5.1
Source object
202413379349301101

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