Bosma Enterprises

What it reported doing in 2024

Bosma, through its center for visionary solutions, is Indiana's largest provider of comprehensive vision rehabilitation programs, serving nearly 1,000 clients each year. These programs teach skills needed for an individual to live independently. They served over 900 hoosiers last year. Bosma provides in-home community-based services, teaching clients the skills to be independent in their home, from safely cooking to managing household items like medications and bills. The program is also expanding to serve more individuals through virtual and group training at senior centers and other community organizations. Bosma's center-based services is a 3 - 5 month residential, comprehensive training program. Clients from all over Indiana come to bosma's rehabilitation center in northwest indianapolis to learn how to adapt to living with vision loss. They learn skills like cooking, cleaning, using a computer, and navigating their environment safely with tools like a white cane. Employment presents a major challenge for people who are blind or visually impaired. In fact, they face an unemployment rate that is 10 times higher than the national rate. Bosma's community employment services clients find meaningful employment through activities like resume writing, interview preparation, and making sure workspaces are accessible with tools such as software. Bosma's center also acts as a hub where people can call to get more information about resources available through bosma and other agencies. Last year, the team handled over 1,400 calls.

Financial Efficiency

• Mission deployment rate: 76.2%; rating input score 76
• Program expense ratio: 87.8%; rating input score 88
• Fundraising efficiency: $0.59 raised per $1 spent on fundraising; rating input score 2; 2nd percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 52nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 93.3%; rating input score 93; 44th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 11%; rating input score 75; 75th percentile among comparable filings
• Total-asset coverage ratio: 1.32; rating input score 49; 49th percentile among comparable filings
• Liabilities to assets ratio: 0.07; rating input score 86; 86th percentile among comparable filings
• Officer compensation ratio: 4.3%; rating input score 23; 23rd percentile among comparable filings

Growth

• Program expense growth: 5.5% per year; rating input score 100; 44th percentile among comparable filings
• Revenue growth: 9.9% per year; rating input score 100; 76th percentile among comparable filings
• Asset growth: 11.6% per year; rating input score 100; 77th percentile among comparable filings