Citizens Investment Collaboration on Neighborhoods Inc

Nonprofit profile at a glance

EIN
351951298
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
3179274450
Rating
27
Verdict
REVIEW
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Reported finances

Revenue
$54,737
Expenses
$5,094
Assets
$1,298,509
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • JENNIFER STANSBERRY (DIRECTOR AND VICE PRESIDENT)
  • JONATHAN GHIO (PRESIDENT / CHAIR AND DIRECTOR)

Highest reported compensation

  • JONATHAN GHIO (PRESIDENT / CHAIR AND DIRECTOR): $531,176 total reported compensation
  • ALEJANDRO VALLE (DIRECTOR): $255,948 total reported compensation
  • KORLON KILPATRICK (DIRECTOR): $225,270 total reported compensation

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

Overview

Mission

The entity is a supporting organization, as described in code section 509(a)(3). Its purpose is to carry out the charitable and other public purposes and projects of the department of public utilities of the city of indianapolis, as a successor trustee of a public charitable trust, d/b/a citizens energy group.

What it reported doing in 2024

Icon provided low interest loans to entities rehabilitating homes in communities facing deterioration. This support promotes community redevelopment efforts so as to combat community deterioration

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 9
  • Sustainability: 83
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 90.7%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 254.91; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 439%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 33.8% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 2.4% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 8 board members independent · 2 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $531K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 3 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 2/100.