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← RILEY AREA DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by RILEY AREA DEVELOPMENT CORPORATION.

Totals

Total revenue
$357,362
Total expenses
$755,735
Contributions and grants received
$97,584
Grants paid
$0
Program service revenue
$292,450
Investment income
-$110,576
Other revenue
$77,904
Total assets, end of year
$8,104,060
Total liabilities, end of year
$1,205,721
Net assets or fund balances, end of year
$6,898,339
Program services expenses (Part IX)
$566,262
Management and general expenses
$189,473
Fundraising expenses
$0
Program service expenses (Part III)
$566,262

Program services were 74.9% 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.

  • 1b · Membership dues

    $71,854

  • 1e · Government grants (contributions)

    $25,730

  • 2a · Program service revenue: RENTAL INCOME

    total $130,105 · related or exempt $130,105

  • 2b · Program service revenue: PARTNERSHIP FEE INCOME

    total $122,245 · related or exempt $122,245

  • 2c · Program service revenue: PROPERTY MANAGEMENT INCOME

    total $40,000 · related or exempt $40,000

  • 2d · Program service revenue: OTHER PROGRAM REVENUE

    total $100 · related or exempt $100

  • 3 · Investment income

    total $88 · excluded $88

  • 7a · Gross sales of assets other than inventory

    other assets $107,694

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

    other assets $218,358

  • 7c · Gain or loss

    other assets -$110,664

  • 7d · Net gain or loss

    total -$110,664 · related or exempt -$110,664

  • 11a · Other revenue: INVESTMENT INCOME

    total $70,096 · related or exempt $70,096

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $7,808 · related or exempt $7,808

  • 11e · Other revenue, total

    $77,904

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $32,692 · program services $23,979 · management and general $8,713

  • 7 · Other salaries and wages

    total $73,645 · program services $55,234 · management and general $18,411

  • 9 · Other employee benefits

    total $10,640 · program services $7,980 · management and general $2,660

  • 10 · Payroll taxes

    total $9,902 · program services $7,427 · management and general $2,475

  • 11b · Fees: legal

    total $63,548 · program services $47,661 · management and general $15,887

  • 11c · Fees: accounting

    total $17,798 · program services $13,348 · management and general $4,450

  • 11g · Fees: other

    total $67,511 · program services $50,634 · management and general $16,877

  • 12 · Advertising and promotion

    total $23,600 · program services $17,700 · management and general $5,900

  • 13 · Office expenses

    total $2,296 · program services $1,722 · management and general $574

  • 16 · Occupancy

    total $17,005 · program services $12,754 · management and general $4,251

  • 17 · Travel

    total $4,844 · program services $3,633 · management and general $1,211

  • 20 · Interest

    total $33,479 · program services $25,109 · management and general $8,370

  • 22 · Depreciation, depletion and amortization

    total $117,268 · program services $87,951 · management and general $29,317

  • 23 · Insurance

    total $17,923 · program services $13,442 · management and general $4,481

  • 24a · Other expenses: BAD DEBT

    total $137,815 · program services $103,361 · management and general $34,454

  • 24b · Other expenses: OPERATING EXPENSES

    total $72,309 · program services $54,232 · management and general $18,077

  • 24c · Other expenses: PROJECT EXPENSES

    total $34,675 · program services $26,006 · management and general $8,669

  • 24d · Other expenses: EQUIPMENT AND MAINTENAN

    total $6,808 · program services $5,106 · management and general $1,702

  • 24e · All other expenses

    total $11,977 · program services $8,983 · management and general $2,994

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,722 · end of year $39,344

  • 2 · Savings and temporary cash investments

    beginning of year $31,900 · end of year $33,975

  • 3 · Pledges and grants receivable

    beginning of year $20,000 · end of year $20,000

  • 4 · Accounts receivable

    beginning of year $56,751 · end of year $45,892

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

    $1,773,312

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

    $393,194

  • 10c · Land, buildings and equipment, net

    beginning of year $1,715,744 · end of year $1,380,118

  • 15 · Other assets

    beginning of year $6,816,489 · end of year $6,584,731

  • 17 · Accounts payable and accrued expenses

    beginning of year $51,272 · end of year $86,965

  • 18 · Grants payable

    beginning of year $108,000 · end of year $39,000

  • 19 · Deferred revenue

    beginning of year $1,800 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $1,186,205 · end of year $1,079,421

  • 25 · Other liabilities

    beginning of year $2,900 · end of year $335

  • 27 · Net assets without donor restrictions

    beginning of year $7,296,429 · end of year $6,898,339

Mission and programs · 2022

Mission

THE MISSION OF RILEY AREA DEVELOPMENT CORPORATION IS TO DEVELOP AND SUPPORT A SUSTAINABLE COMMUNITY ENVIRONMENT IN AND AROUND DOWNTOWN INDIANAPOLIS THROUGH AFFORDABLE HOUSING, ECONOMIC DEVELOPMENT, HEALTHY PUBLIC SPACE AND COMMUNITY DEVELOPMENT.

  • REDEVELOPMENT OF CERTAIN AREAS OF INDIANAPOLIS TO PROVIDE BENEFITS TO CURRENT AND FUTURE RESIDENTS

    Expenses $566,262 · Revenue $259,690

As filed on the 2022 return.

Listed in Part VII

  • WALTER FREIHOFER

    CHAIR

    Total calculated
    $0
    Hours/week
    3

  • KATHY OVERBEY

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • JANINE BETSEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MJ TRUJILLO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATHLEEN LARA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TOM MARENDT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TERESA L SKIPPER

    EXECUTIVE DIRECTOR 1/1- 5/31

    Total calculated
    $32,692
    From this org
    $32,692
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • BRUCE R BAIRD

    EXECUTIVE DIRECTOR 6/1 - 12/31

    Total calculated
    $0
    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.

  • MASS AVENUE MAKERSPACE LLC

    MAKERSPACE · IN · income $85,354 · assets $45,509

  • RADC PERSHING

    REAL ESTATE · IN · income $34,641 · assets $325,095

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.

  • SEMINOLE-RADC INC

    C · LOW-INCOME HOUSING · IN · 100% owned · share of income -$12 · share of assets $4,941

  • RILEY ROBERTS PARK INC

    C · LOW-INCOME HOUSING · IN · 100% owned · share of income $20 · share of assets $127,595

  • 1733 GP INC

    C · LOW-INCOME HOUSING · IN · 49% owned · share of income -$7 · share of assets -$80

  • RADC-MAT INC

    C · LOW-INCOME HOUSING · IN · 100% owned · share of income -$17 · share of assets -$92

  • SCSA INC

    C · LOW-INCOME HOUSING · IN · 50% owned · share of income -$6 · share of assets -$129

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202343199349301449

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