Indianapolis Downtown Marketing Inc

Nonprofit profile at a glance

EIN
351885205
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
3172372222
Rating confidence
Limited

Official website

Reported finances

Revenue
$2,102,730
Expenses
$2,584,019
Assets
$3,033,667
Liabilities
$3,956,205

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

Leadership & pay

65 people listed

Executive titles in this filing

  • Taylor Schaffer (President and CEO)
  • TIMOTHY BORUFF (VICE PRESIDENT FINANCE & OPERATIONS)

Highest reported compensation

  • Taylor Schaffer (President and CEO): $202,715 total reported compensation
  • TIMOTHY BORUFF (VICE PRESIDENT FINANCE & OPERATIONS): $143,520 total reported compensation

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

Overview

Mission

Indianapolis Downtown Marketing, Inc. (IDMI) exists to improve downtown Indianapolis. IDMI focuses on marketing downtown businesses, destinations, organizations, activities and events.

What it reported doing in 2024

Widely known as the heart and communal gathering space for Indianapolis, Monument Circle is a popular destination for residents and visitors alike. The Circle, featuring the larger-than-life Soldiers & Sailors Monument, is both a hub for Downtown's workforce as well as entertainment, dining, retail, and more. The filing organization collaborates with the Indiana War Memorials Commission (IWMC) to infuse arts and culture into the space year-round, from artistic video mapping and lighting through the Shining A Light program to the pedestrian-friendly SPARK on the Circle which welcomed more than 78K visitors in its 2024 season.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 95
  • Accountability: 95
  • Sustainability: 18
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -22.9%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 1.17; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 1.3; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 13.4%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.3% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: -1.3% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 63 of 63 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $203K · 65 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Sustainability: Operating margin scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.