Cold Spring Innovation Corporation

Nonprofit profile at a glance

EIN
332423862
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
3179556009
Rating
59
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$3,827,938
Expenses
$789,079
Assets
$3,381,144
Liabilities
$342,285

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Chris Creighton (President)
  • Deborah Lawrence (Vice President)

Highest reported compensation

  • Michael Bedel (Treasurer): $266,193 total reported compensation
  • Chris Creighton (President): $196,179 total reported compensation
  • Deborah Lawrence (Vice President): $195,683 total reported compensation

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

Overview

Mission

To promote and further the educational purposes of Marian University. The corporation obtains, holds, and provides funds and property for educational purposes to be carried out by Marian University.

What it reported doing in 2024

The corporation obtains, holds, and provides funds and property for educational purposes to be carried out by Marian University.

Operating model

Revenue model
Grant-funded. 70% of the money available for current operations came from government grants.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 44
  • Transparency & Controls: 69
  • Accountability: 86
  • Sustainability: 79
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 20.2%; rating input score 20
  • Program expense ratio: 98%; rating input score 98
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 79.4%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 4.28; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 14.3%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 20.2% of revenue deployed · 98% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $774K in reported program spending
  • Leadership: top reported pay $266K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • 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 20/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.