Prosper Devington Building Corporation

Nonprofit profile at a glance

EIN
854293288
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
Indianapolis, IN, USA
Phone
3176342423
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Real Estate Associations

Official website

Reported finances

Revenue
$651,686
Expenses
$1,173,811
Assets
$17,603,019
Liabilities
$16,292,758

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

Leadership & pay

5 people listed

Executive titles in this filing

  • JENNIFER BARTENBACH (PRESIDENT)
  • SARAH WEAVER (VICE PRESIDENT)

Highest reported compensation

  • JENNIFER BARTENBACH (PRESIDENT): $480,694 total reported compensation
  • SARAH WEAVER (VICE PRESIDENT): $203,645 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 organization shall be operated for holding title to property, leasing real estate to exempt organizations and promote economic growth in marion county.

What it reported doing in 2024

Built a building to lease to exempt organizations to promote economic growth in marion county.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 54% for direct work, and 46% for affiliated organizations.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 64
  • Accountability: 72
  • Sustainability: 35
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.6%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 12th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -80.1%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 15; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.93; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 6.7%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 6.5% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: -91.4% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -2.9% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.6% of spending went to programs
  • Governance: 3 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $481K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 8 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.