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← RILEY AREA DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by RILEY AREA DEVELOPMENT CORPORATION.

Totals

Total revenue
$23,825
Total expenses
$525,195
Contributions and grants received
$2,150
Grants paid
$0
Program service revenue
$21,128
Investment income
$362
Other revenue
$185
Total assets, end of year
$6,376,084
Total liabilities, end of year
$115,167
Net assets or fund balances, end of year
$6,260,917
Program services expenses (Part IX)
$493,241
Management and general expenses
$31,954
Fundraising expenses
$0
Program service expenses (Part III)
$493,241

Program services were 93.9% 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.

  • 1f · All other contributions, gifts and grants

    $2,150

  • 2a · Program service revenue: RENTAL INCOME

    total $21,128 · related or exempt $21,128

  • 3 · Investment income

    total $362 · excluded $362

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $185 · related or exempt $185

  • 11e · Other revenue, total

    $185

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $2,957 · program services $2,218 · management and general $739

  • 11c · Fees: accounting

    total $27,772 · program services $20,829 · management and general $6,943

  • 11g · Fees: other

    total $72,000 · program services $54,000 · management and general $18,000

  • 13 · Office expenses

    total $1,621 · program services $1,216 · management and general $405

  • 22 · Depreciation, depletion and amortization

    total $8,613 · program services $6,460 · management and general $2,153

  • 23 · Insurance

    total $9,413 · program services $7,060 · management and general $2,353

  • 24a · Other expenses: INVESTMENT IN PARTNERSH

    total $397,377 · program services $397,377

  • 24b · Other expenses: OPERATING EXPENSES

    total $5,391 · program services $4,043 · management and general $1,348

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $51 · program services $38 · management and general $13

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $34,075 · end of year $211,720

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

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

    $164,220

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

    $66,749

  • 10c · Land, buildings and equipment, net

    beginning of year $106,084 · end of year $97,471

  • 15 · Other assets

    beginning of year $6,710,158 · end of year $6,066,893

  • 17 · Accounts payable and accrued expenses

    beginning of year $26,250 · end of year $54,087

  • 18 · Grants payable

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

  • 23 · Secured mortgages and notes payable

    beginning of year $22,080 · end of year $22,080

  • 25 · Other liabilities

    beginning of year $700 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $6,762,287 · end of year $6,260,917

Mission and programs · 2024

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 $493,241 · Revenue $21,313

As filed on the 2024 return.

Listed in Part VII

  • Walter Freihofer

    CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Kathy Overbey

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Mj Trujillo

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Kathleen Lara

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Lauren Rodriguez

    RDOOR PRESIDENT

    Total calculated
    $0
    Hours/week
    4

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.

Related partnerships

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

  • HOOSIER RETAIL FLATS LLC

    RELATED · REAL ESTATE · IN · 50% owned · share of income $66,279 · share of assets $121,608

  • TRAIL SIDE RETAIL FLATS LLC

    RELATED · REAL ESTATE · IN · 50% owned · share of income $35,692 · share of assets $410,870

  • SEMINOLE LP

    RELATED · REAL ESTATE · IN · 99.99% owned · share of income -$88,432 · share of assets $1,449,447

  • RILEY-ROBERTS PARK LP

    RELATED · REAL ESTATE · IN · 50.99% owned · share of income $77,197 · share of assets $4,449,184

  • RILEY-ROBERTS PARK LP

    RELATED · REAL ESTATE · IN · 0.01% owned · share of income $8

  • TRAIL SIDE ON MASS AVE

    RELATED · REAL ESTATE · IN · 0.01% owned · share of income -$16 · share of assets $867,246

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 -$9

  • RILEY ROBERTS PARK INC

    C · LOW-INCOME HOUSING · IN · 100% owned · share of assets $127,548

  • 1733 GP INC

    S · LOW-INCOME HOUSING · IN · 49% owned · share of income -$8

  • RADC-MAT INC

    C · LOW-INCOME HOUSING · IN · 100% owned · share of income -$16

  • SCSA INC

    C · LOW-INCOME HOUSING · IN · 50% owned · share of income -$12

Provenance

Return type
form_990
Tax year
2024
Filed
4 November 2025
IRS schema version
2024v5.2
Source object
202533149349304128

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