Downtown Westfield Community Development Corporation

Nonprofit profile at a glance

EIN
301402274
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$20,106,478
Expenses
$329,152
Assets
$20,326,623
Liabilities
$549,297

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Jim Ake (President)
  • Mark Keen (Vice President)

People named in this filing

  • Jim Ake (President)
  • Mark Keen (Vice President)
  • Chris White (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

Downtown Westfield Community Development Corporation's (DWCDC)'s mission is to support the redevelopment and revitalization of the City of Westfield by enhancing public spaces, improving infrastructure, and encouraging investment in commercial and residential areas. DWCDC works to improve the social welfare of residents by fostering economic opportunity, cultural enrichment, and community improvement. Through strategic partnerships and targeted assistance, DWCDC helps transform neglected or underutilized areas into areas that reflect the City's long-term vision for growth and sustainability.

What it reported doing in 2024

Golf Course Operations and Community Revitalization Asset: DWCDC operates and maintains a public golf course as part of its broader mission to promote economic development, public beautification, and community revitalization in and around the City of Westfield. The facility serves as a key community asset that attracts residents and visitors, supports local tourism. Through much needed improvements and maintenance of the golf course, DWCDC has contributed to the revitalization of surrounding areas by increasing nearby property values, supporting local businesses, and promoting reinvestment in adjacent public infrastructure. The golf course is also used for public events and community engagement activities. All of which align with DWCDC's exempt purpose to improve the social, cultural, and economic conditions of the community.

Operating model

Revenue model
Grant-funded. 99% 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 30
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 98
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 1.6%; rating input score 2
  • Program expense ratio: 87.8%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 66th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 98.4%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 61.75; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

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

Details

  • Where the money goes: 1.6% of revenue deployed · 87.8% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $289K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • 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 2/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.