Patchwork Indy Inc

Nonprofit profile at a glance

EIN
843946829
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Indianapolis, IN, USA
Phone
3177711801
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Ethnic, Immigrant Centers

Reported finances

Revenue
$651,684
Expenses
$689,434
Assets
$1,055,694
Liabilities
$3,174

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

Leadership & pay

17 people listed

Executive titles in this filing

  • BRUCE GARRISON (CEO)

Highest reported compensation

  • BRUCE GARRISON (CEO): $63,057 total reported compensation

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

Overview

Mission

Connecting creative people, diverse communities, and innovative organizations to one another in order to weave a social fabric that benefits all.

What it reported doing in 2024

1. Hosted first statewide changing landscapes summit, engaging stakeholders from nonprofits, communities, and government from across Indiana.2. Provided presents and essentials to 670 community members across indianapolis through our holiday bazaar.3. Recognized by Indiana chamber of commerce, the Indiana economic development council, the department of workforce development, and the commission for higher education for our work in fostering conversation and collaboration around issues facing Indiana communities.4. Led the development of two community resource fairs in indianapolis communities, connecting community members with support services.5. Resettled 502 individuals in communities across the us.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.

The verdict

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 41
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: -5.8%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 1.53; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
  • Officer compensation ratio: 9.1%; rating input score 40; 40th percentile among comparable filings

Growth

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

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 15 of 15 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $689K in reported program spending
  • Leadership: top reported pay $63K · 17 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 23/100.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.