Niche Inc

Nonprofit profile at a glance

EIN
923891406
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
3176540624
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Small Business Development

Reported finances

Revenue
$322,461
Expenses
$218,002
Assets
$138,868
Liabilities
$4,462

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Tosseia Holmes (Executive Director)

Highest reported compensation

  • Tosseia Holmes (Executive Director): $120,000 total reported compensation

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

Overview

Mission

NICHE empowers underestimated entrepreneurs and youth to launch and grow sustainable businesses through hands-on education, coaching, and access to capitalbuilding generational wealth and vibrant, inclusive communities.

What it reported doing in 2024

NICHE Inc. provides mentorship, funding, business education, and access to community resources for more than 100 individuals and youth from disadvantaged communities. Through its core programming in Indianapolis, NICHE facilitated business education courses, brand development support, legal filing assistance, and pitch competitions designed to empower minority entrepreneurs. Participants who completed the business-planning curriculum and demonstrated practical application of their knowledge were eligible for startup prizes, which furthered the organizations charitable and educational mission.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 70% for direct work, and 30% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 100
  • Accountability: 81
  • Sustainability: 53
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59%; rating input score 59
  • Program expense ratio: 87.3%; rating input score 87
  • Fundraising efficiency: $24.59 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 61st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 23rd 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: 32.4%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 0.64; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 55%; rating input score 3; 3rd percentile among comparable filings

Growth

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

Details

  • Where the money goes: 59% of revenue deployed · 87.3% of spending went to programs
  • Governance: 6 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $190K in reported program spending
  • Leadership: top reported pay $120K · 8 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 1 filing year from 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.

  • Review — Financial Efficiency: Mission deployment rate scored 59/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.