Impact Housing Indiana Corp

Nonprofit profile at a glance

EIN
923953781
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Fishers, IN, USA
Phone
3172362183
Rating
51
Verdict
MIXED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$2,021,867
Expenses
$73,975
Assets
$2,007,405
Liabilities
$59,513

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

Leadership & pay

6 people listed

Executive titles in this filing

  • STEPHEN UDVARDY (PRESIDENT (BEGINNING OCTOBER))
  • ELI MARSHALL (PRESIDENT (UNTIL OCTOBER))
  • ADRIAN RUSSELL (VICE PRESIDENT)
  • JENNIFER YEAGLEY (EXECUTIVE DIRECTOR (BEGINNING SEPTEMBER))

Highest reported compensation

  • JENNIFER YEAGLEY (EXECUTIVE DIRECTOR (BEGINNING SEPTEMBER)): $56,855 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 foster the creation, development, and operating of affordable housing. To develop, own, manage and otherwise operate affordable housing development as well as provide services to the residents of those developments.

What it reported doing in 2024

Community partnerships: community partnerships exist solely for the goal of providing services to residents. Their purpose is to help address individuals' needs as they relate to social determinants of health. Even though the resources are available, these services are not actively utilized due to lack of visibility. Often these resources are provided through an incredibly diverse and intricate system, each of which has its own specifications and logistical difficulties. As a housing provider, we have a unique opportunity to become a vital link between service providers and our residents. We bring service providers and our residents together in partnership with property management operations.these agencies often have resources that can help with: nutrition; community gardening; financial wellness; basic health screenings; access to health resources; access to education resources; access to employment resources; youth programs; resident engagement.

Operating model

Revenue model
Grant-funded. 79% 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.

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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 14
  • Transparency & Controls: 92
  • Accountability: 69
  • Sustainability: 84
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 1.5%; rating input score 1
  • Program expense ratio: 40.7%; rating input score 41
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 96.3%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 27.14; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 76.9%; rating input score 0; 0th percentile among comparable filings

Growth

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

Details

  • Where the money goes: 1.5% of revenue deployed · 40.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 2 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $30K in reported program spending
  • Leadership: top reported pay $57K · 6 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 1/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 41/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.