Nexus Impact Center
Legal name: Nexus Impact Center Inc
Nonprofit profile at a glance
- EIN
- 830524812
- IRS 990 coverage
- 2020–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Indianapolis, IN, United States
- Phone
- 317.740.3965
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Religion Related N.E.C.
- Affiliation
- Religious (unspecified)
Reported finances
- Revenue
- $496,633
- Expenses
- $491,815
- Assets
- $269,228
- Liabilities
- $87,665
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- Justin Farrell (President & CEO)
- Turner Lesnick (Vice President)
Highest reported compensation
- Justin Farrell (President & CEO): $48,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The Nexus Impact Center unites, inspires, and resources people to cultivate impact-driven business models. We endeavor to create an equitable world through collective impact. Equitable = accessible, inclusive, and sustainable for all. Nexus is more than just a coworking space and venue location. While we do have the typical benefits these spaces offer like high-speed internet and great coffee, we do things a little differently: our profits support social impact. Our pricing, amenities and flexibility are all designed to tear down walls for socially-minded companies and organizations to enable them to grow their impact. While our mission and programs are focused on helping people embed sustainable social impact, our space and memberships are open to people of all walks of life looking for an economical space to work, meet and hold events, thereby contributing to social impact. Read...
What it reported doing in 2024
Shared space for start-ups, solopreneurs and freelancers to launch and grow their businesses. We averaged 100 active coworking members throughout 2024 who utilized the shared space and connected with the community. We helped connect many of them to resources and programs to keep their business going through the ongoing impact from the pandemic/inflation. Many of which found ways to continue to pivot and grow.
Operating model
- Revenue model
- Earned-program. 80% of the money available for current operations came from fees and other program revenue.
- 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 66
- Transparency & Controls: 86
- Accountability: 90
- Sustainability: 33
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 74%; rating input score 74
- Program expense ratio: 74.7%; rating input score 75
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 22nd 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: 6 of 8 controls in place; rating input score 75
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 1%; rating input score 42; 42nd percentile among comparable filings
- Total-asset coverage ratio: 0.55; rating input score 26; 26th percentile among comparable filings
- Liabilities to assets ratio: 0.33; rating input score 15; 15th percentile among comparable filings
- Officer compensation ratio: 9.8%; rating input score 29; 29th percentile among comparable filings
Growth
- Program expense growth: 12.2% per year; rating input score 100; 74th percentile among comparable filings
- Revenue growth: 10.9% per year; rating input score 100; 74th percentile among comparable filings
- Asset growth: 3.9% per year; rating input score 100; 42nd percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 74% of revenue deployed · 74.7% of spending went to programs
- Governance: 3 of 3 board members independent · 6 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $367K in reported program spending
- Leadership: top reported pay $48K · 3 people listed
- Consistency: 24 of 25 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes major donors
- Filing history: 5 filing years from 2020 to 2024
- 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.
- Moderate — Sustainability: Operating margin scored 42/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Sustainability: Total-asset coverage ratio scored 26/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 15/100.
- High — Sustainability: Officer compensation ratio scored 29/100.