Area Iv Development Inc

Nonprofit profile at a glance

EIN
352048630
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Lafayette, IN, USA
Phone
7654477683
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Support

Reported finances

Revenue
$1,579,867
Expenses
$2,331,089
Assets
$27,401,443
Liabilities
$11,631,299

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • ELVA JAMES (PRESIDENT)

People named in this filing

  • ELVA JAMES (PRESIDENT)
  • ERIC ROSS (VICE PRESIDE)
  • DAWN LAYTON (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of area iv development, inc. Is to provide community economic development and affordable housing projects that will directly benefit low and moderate income persons, older adults physically and mentally disabled persons, homeless persons and special needs populations in mid-northwestern Indiana.

What it reported doing in 2024

Housing - in 2024, area iv development, inc. Verified compliance on current projects and acquired property for a new project in lafayette, Indiana.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 76.4%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -47.5%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 11.75; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 23.9% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 15.9% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 20.3% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 76.4% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 9 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 3/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.