Midwest Support Foundation Inc

Nonprofit profile at a glance

EIN
141857868
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
3172820220
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$-9,997,398
Expenses
$198,872
Assets
$9,605,256
Liabilities
$2,203,619

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

Leadership & pay

7 people listed

People named in this filing

  • JANINE BETSEY (CHAIR / TREASURER)
  • KRISTEN DAVIS (SECRETARY)
  • JAMES TAYLOR (BOARD MEMBER)

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

The exempt purpose of the corporation is to exclusively be organized for charitable and educational purposes, including but not limited to, combating community deterioration by developing and fostering low-income housing, while maintaining the historic foundation of the community, in order to provide educational, social, and cultural services based on community and neighborhood needs throughout the midwest

What it reported doing in 2024

Real estate development - the organization participates in leading development and historic rehabilitation of commercial or mixed use buildings along in the midwest. As a developer, co-developer, or facilitator, the organization receives financing and subsidy funds to directly improve, or encourage improvement, of key properties critical to the overall redevelopment efforts in the midwest.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 42% for direct work, and 58% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 35
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 45
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 10.2%; rating input score 10
  • Program expense ratio: 87%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -102%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 48.3; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -5.6% per year; rating input score 0; 37th percentile among comparable filings
  • Revenue growth: Limited
  • Asset growth: 15.3% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 10.2% of revenue deployed · 87% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $173K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 11 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.

Key Signals

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

  • High — Financial Efficiency: Mission deployment rate scored 10/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 20/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.