Indy Foundation

Nonprofit profile at a glance

EIN
822837628
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-N 2017
Location
Waite Park, MN, USA
Phone
3202907485
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Official website

Reported finances

Revenue
$303,311
Expenses
$224,940
Assets
$469,994
Liabilities
$0

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

Leadership & pay

6 people listed

Executive titles in this filing

  • COURTNEY STUDENSKI (EXECUTIVE DIRECTOR)

Highest reported compensation

  • COURTNEY STUDENSKI (EXECUTIVE DIRECTOR): $18,000 total reported compensation
  • KAYLA STRAND (FOUNDER): $12,000 total reported compensation

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

Overview

Mission

Our purpose is to provide love, faith and financial support by directly supporting Minnesota's cancer warriors and their families verse the battle at hand.

What it reported doing in 2024

Indy is a Minnesota-based non-profit organization dedicated to giving support to real-life warriors in the midst of their cancer battle. Every month we highlight two minnesotan warriors - 1 little indy warrior and 1 indy warrior (18+). Through online sales, donations and in-store retailers, the honoree will receive a portion of all profits during their specified month.

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 73% for direct work, and 27% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 88
  • Accountability: 72
  • Sustainability: 67
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.3%; rating input score 74
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 26th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 25.8%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 2.09; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 13.3%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 29% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 23.1% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 30.9% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 74.3% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $225K in reported program spending
  • Leadership: top reported pay $18K · 6 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 26/100.