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Nonprofiteer
← INDIANAPOLIS MINISTRIES 1 INC

Form 990 for tax year 2024

Filed by INDIANAPOLIS MINISTRIES 1 INC.

Totals

Total revenue
$858,557
Total expenses
$719,456
Contributions and grants received
$581,332
Grants paid
$0
Program service revenue
$234,536
Investment income
$782
Other revenue
$41,907
Total assets, end of year
$2,383,414
Total liabilities, end of year
$1,891,719
Net assets or fund balances, end of year
$491,695
Program services expenses (Part IX)
$679,594
Management and general expenses
$39,862
Fundraising expenses
$0
Program service expenses (Part III)
$679,594

Program services were 94.5% 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.

  • 1e · Government grants (contributions)

    $581,332

  • 2a · Program service revenue: NET RENTAL REVENUE

    total $234,536 · related or exempt $234,536

  • 3 · Investment income

    total $782 · excluded $782

  • 11a · Other revenue: GAIN ON INVOLUNTARY CO

    total $33,748 · related or exempt $33,748

  • 11b · Other revenue: LAUNDRY AND VENDING

    total $4,702 · related or exempt $4,702

  • 11d · All other revenue

    total $3,457 · related or exempt $3,457

  • 11e · Other revenue, total

    $41,907

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $52,392 · program services $52,392

  • 11c · Fees: accounting

    total $19,762 · management and general $19,762

  • 11g · Fees: other

    total $165,843 · program services $165,843

  • 12 · Advertising and promotion

    total $10 · program services $10

  • 13 · Office expenses

    total $29,434 · program services $29,434

  • 16 · Occupancy

    total $267,843 · program services $267,843

  • 19 · Conferences, conventions and meetings

    total $10,450 · program services $10,450

  • 22 · Depreciation, depletion and amortization

    total $151,872 · program services $151,872

  • 24a · Other expenses: RESIDUAL RECEIPTS OFFSE

    total $20,100 · management and general $20,100

  • 24b · Other expenses: TAXES/LICENSES/PERMITS

    total $1,750 · program services $1,750

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,622 · end of year $167,146

  • 4 · Accounts receivable

    beginning of year $528,177 · end of year $4,277

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,910 · end of year $32,725

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

    $2,097,001

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

    $492,423

  • 10c · Land, buildings and equipment, net

    beginning of year $1,561,881 · end of year $1,604,578

  • 15 · Other assets

    beginning of year $166,702 · end of year $574,688

  • 17 · Accounts payable and accrued expenses

    beginning of year $227,547 · end of year $242,282

  • 19 · Deferred revenue

    beginning of year $6,003 · end of year $6,412

  • 21 · Escrow or custodial account liability

    beginning of year $22,127 · end of year $22,941

  • 23 · Secured mortgages and notes payable

    beginning of year $1,683,021 · end of year $1,620,084

  • 27 · Net assets without donor restrictions

    beginning of year $352,594 · end of year $491,695

Mission and programs · 2024

Mission

INDIANAPOLIS MINISTRIES I, INC. (IM1I), IS A NOT-FOR-PROFIT CORPORATION FORMED ON SEPTEMBER 25, 2015, IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF INDIANA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 74-UNIT COMMUNITY LOCATED IN INDIANAPOLIS, INDIANA, WHICH PROVIDES HOUSING AND RELATED SERVICES FOR VERY LOW INCOME ELDERLY OR DISABLED PERSONS. THE CORPORATION RECEIVES HOUSING ASSISTANCE AND CAPITAL ADVANCES FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED.

  • INDIANAPOLIS MINISTRIES I, INC. (IM1I), IS A INDIANA NON-STOCK, NON-PROFIT CORPORATION FORMED ON SEPTEMBER 25, 2015, IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF INDIANA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 74-UNIT COMMUNITY LOCATED IN INDIANAPOLIS, INDIANA, WHICH PROVIDES HOUSING AND RELATED SERVICES FOR VERY LOW INCOME ELDERLY OR DISABLED PERSONS. THE CORPORATION RECEIVES HOUSING ASSISTANCE AND CAPITAL ADVANCES FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED.

    Expenses $679,594 · Revenue $276,443

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JOE ROSENBLUM

    SECRETARY/DIRECTOR

    Total calculated
    $242,964
    From this org
    $0
    From related orgs
    $232,582
    Other
    $10,382
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $227,582 related
    Bonus
    $0 + $5,000 related
    Other
    $0
    Deferred
    $0 + $9,554 related
    Nontaxable benefits
    $0 + $828 related
    Filer's total
    $0 + $242,964 related

  • KASSIDI BOENING

    VICE PRESIDENT/DIRECTOR

    Total calculated
    $195,151
    From this org
    $0
    From related orgs
    $163,942
    Other
    $31,209
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $159,942 related
    Bonus
    $0 + $4,000 related
    Other
    $0
    Deferred
    $0 + $10,331 related
    Nontaxable benefits
    $0 + $20,878 related
    Filer's total
    $0 + $195,151 related

  • MELISSA CLAYTON

    VICE PRESIDENT/DIRECTOR

    Total calculated
    $308,489
    From this org
    $0
    From related orgs
    $273,011
    Other
    $35,478
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $263,011 related
    Bonus
    $0 + $10,000 related
    Other
    $0
    Deferred
    $0 + $16,578 related
    Nontaxable benefits
    $0 + $18,900 related
    Filer's total
    $0 + $308,489 related

  • CHAD PAYNE

    TREASURER

    Total calculated
    $211,480
    From this org
    $0
    From related orgs
    $201,515
    Other
    $9,965
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $198,015 related
    Bonus
    $0 + $3,500 related
    Other
    $0
    Deferred
    $0 + $9,137 related
    Nontaxable benefits
    $0 + $828 related
    Filer's total
    $0 + $211,480 related

  • EDGAR FLAGG III

    VICE PRESIDENT

    Total calculated
    $216,513
    From this org
    $0
    From related orgs
    $188,318
    Other
    $28,195
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $188,318 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,295 related
    Nontaxable benefits
    $0 + $18,900 related
    Filer's total
    $0 + $216,513 related

  • FATMAH FARRAJ

    VICE PRESIDENT

    Total calculated
    $183,363
    From this org
    $0
    From related orgs
    $171,237
    Other
    $12,126
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $171,237 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,309 related
    Nontaxable benefits
    $0 + $1,817 related
    Filer's total
    $0 + $183,363 related

  • MARK ANGELINI

    PRESIDENT

    Total calculated
    $264,448
    From this org
    $0
    From related orgs
    $252,403
    Other
    $12,045
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $252,403 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $11,257 related
    Nontaxable benefits
    $0 + $788 related
    Filer's total
    $0 + $264,448 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
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
ANNUALLY THE EXECUTIVE COMMITTEE WITHIN THE MERCY HOUSING, INC. BOARD OF TRUSTEES WILL REVIEW EXECUTIVE SALARIES TO ENSURE COMPETITIVENESS WITH EXTERNAL MARKETS AND FOR INTERNAL EQUITY IN RELATION TO GENERAL EMPLOYEE WAGES AND BENEFITS, INDIVIDUAL AND ORGANIZATIONAL PERFORMANCE, AND THE FINANCIAL RESOURCES OF THE ORGANIZATION.

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

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.

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 partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
24 October 2025
IRS schema version
2024v5.2
Source object
202513019349301331

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