Historic Landmarks Foundation of Indiana Inc

Nonprofit profile at a glance

EIN
351162873
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Indianapolis, IN, USA
Phone
3176394534
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Historical Societies, Related Historical Activities

Official website

Reported finances

Revenue
$11,694,981
Expenses
$11,142,511
Assets
$123,187,461
Liabilities
$1,187,771

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

Leadership & pay

42 people listed

Executive titles in this filing

  • Brad Ward (President (START 04/2025))
  • J MARSHALL DAVIS (PRESIDENT (END 04/2025))

Highest reported compensation

  • J MARSHALL DAVIS (PRESIDENT (END 04/2025)): $274,018 total reported compensation
  • MARK DOLLASE (VP OF PRESERVATION SERVICES): $154,426 total reported compensation
  • MADONNA WAGNER (VP & CFO): $150,365 total reported compensation

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

Overview

Mission

Indiana landmarks advances the preservation of historical and architecturally significant sites and structures throughout Indiana. Through its network of regional offices the organization provides education and advocacy at the local level, and works to preserve historic places, revitalize historic neighborhoods, and enrich the heritage of Indiana.

What it reported doing in 2024

Indiana landmarks provides a year-round schedule of events, tours, lectures throughout the state. The Indiana landmarks center in indianapolis, located in a historic former church, provides a unique space for various functions, including special events, lectures, films, theater productions, diy classes and workshops. In orange country, Indiana, Indiana landmarks provides tours of the historic west baden springs hotel and the french lick spring hotel. The tours of the hotels and the surrounding gardens highlight the historic architecture, the hotelsigins, and their decline and rebirth through award-winning restoration. Two gift shops within the hotel properties carry merchandise inspired by the past, including books and materials pertaining to the history of Indiana, architectures, and historic preservation.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 67% for direct work, and 33% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 67
  • Accountability: 94
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 84.6%; rating input score 85
  • Fundraising efficiency: $8.08 raised per $1 spent on fundraising; rating input score 32; 32nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 88.2%; rating input score 88; 2nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 90.1%; rating input score 90; 20th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 97.3%; rating input score 97; 31st percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 4.7%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 11.06; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 5.2%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 7.6% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 7.7% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 5.2% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 84.6% of spending went to programs
  • Governance: 36 of 37 board members independent · 8 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $9.4M in reported program spending
  • Leadership: top reported pay $274K · 42 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.4M reported
  • Consistency: 39 of 41 current checks pass · 2 findings to review
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 74 filed money-flow records
  • Related organizations: 72 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 32/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.