Skip to content
Nonprofiteer
← BUSINESS OWNERSHIP INITIATIVE OF INDIANA INC

Form 990 for tax year 2023

Filed by BUSINESS OWNERSHIP INITIATIVE OF INDIANA INC.

Totals

Total revenue
$1,712,079
Total expenses
$1,781,747
Contributions and grants received
$1,429,436
Grants paid
$0
Program service revenue
$275,509
Investment income
$0
Other revenue
$7,134
Total assets, end of year
$7,563,755
Total liabilities, end of year
$4,736,850
Net assets or fund balances, end of year
$2,826,905
Program services expenses (Part IX)
$1,426,973
Management and general expenses
$354,774
Fundraising expenses
$0
Program service expenses (Part III)
$1,426,973

Program services were 80.1% 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.

  • 1d · Related organizations

    $275,000

  • 1e · Government grants (contributions)

    $1,121,779

  • 1f · All other contributions, gifts and grants

    $32,657

  • 2a · Program service revenue: SERVICE CONTRACT REVENUE

    total $141,763 · related or exempt $141,763

  • 2b · Program service revenue: INTEREST INCOME FROM MICROLOANS

    total $133,746 · related or exempt $133,746

  • 2f · All other program service revenue

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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Bad debt recovery

    total $261 · related or exempt $261

  • 11d · All other revenue

    total $6,873 · related or exempt $6,873 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $7,134

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $22,630 · program services $18,104 · management and general $4,526

  • 7 · Other salaries and wages

    total $843,837 · program services $675,070 · management and general $168,767

  • 8 · Pension plan contributions

    total $18,396 · program services $14,717 · management and general $3,679

  • 9 · Other employee benefits

    total $85,338 · program services $68,270 · management and general $17,068

  • 10 · Payroll taxes

    total $46,755 · program services $37,404 · management and general $9,351

  • 11g · Fees: other

    total $306,627 · program services $245,301 · management and general $61,326 · fundraising $0

  • 12 · Advertising and promotion

    total $75,065 · program services $60,052 · management and general $15,013

  • 13 · Office expenses

    total $31,768 · program services $25,414 · management and general $6,354

  • 14 · Information technology

    total $39,849 · program services $31,879 · management and general $7,970

  • 16 · Occupancy

    total $99,776 · program services $79,821 · management and general $19,955

  • 17 · Travel

    total $7,658 · program services $6,126 · management and general $1,532

  • 19 · Conferences, conventions and meetings

    total $73,121 · program services $58,497 · management and general $14,624

  • 20 · Interest

    total $4,642 · program services $3,714 · management and general $928

  • 24a · Other expenses: Bad debt expense

    total $101,048 · program services $80,838 · management and general $20,210

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $17,357 · program services $13,886 · management and general $3,471

  • 24c · Other expenses: SPONSORSHIP COSTS

    total $2,833 · program services $2,833

  • 24d · Other expenses: VARIOUS PROGRAM RELATED EXPENSE

    total $5,047 · program services $5,047

  • 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 $5,468,471 · end of year $5,368,813

  • 3 · Pledges and grants receivable

    beginning of year $304,746 · end of year $589,689

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $2,388,780 · end of year $1,604,675

  • 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 $578 · end of year $578

  • 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 $60,755 · end of year $37,090

  • 19 · Deferred revenue

    beginning of year $124,368 · end of year $54,212

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $5,080,879 · end of year $4,645,548

  • 27 · Net assets without donor restrictions

    beginning of year $712,732 · end of year $1,941,423

  • 28 · Net assets with donor restrictions

    beginning of year $2,183,841 · end of year $885,482

Mission and programs · 2023

Mission

BUSINESS OWNERSHIP INITIATIVE OF INDIANA'S MISSION IS TO PROVIDE SERVICES AND SUPPORT TO EMERGING AND EXISTING BUSINESS OWNERS IN THE NINE-COUNTY, INDIANAPOLIS METROPOLITAN AREA. THE SERVICES INCLUDE MICRO LENDING, BUSINESS-TRAINING CLASSES AND WORKSHOPS, ONE-TO-ONE BUSINESS COUNSELING, LIFE COACHING, MENTORING AND ASSISTANCE WITH LOCATING AND OBTAINING FINANCIAL RESOURCES.

Activities or mission (Part I)

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.

  • 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.

    Expenses $1,426,973 · Revenue $282,643

As filed on the 2023 return.

Listed in Part VII

  • Andrea McGordon

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Drew Linn

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Patty Prosser

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Altaf Hussain

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Bill Bower

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Erica Williams

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Mathew Foley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Nashelle Frazier

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Phil powell

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ryan O'connor

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Scott Ransburg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Stacie Porter Bilger

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Zenai Savage

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • David herron

    EXECUTIVE DIRECTOR

    Total calculated
    $22,630
    From this org
    $21,791
    From related orgs
    $0
    Other
    $839
    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.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413209349317191

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.