Business Ownership Initiative of Indiana Inc

Analysis

Business Ownership Initiative of Indiana Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in March 1998, 28 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Business Ownership Initiative of Indiana Inc reported income of $1.7m and spending of $1.8m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.7m (+62%), an average of +13% a year. The sharpest change came in the year to December 2020, when income rose by 1653%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Business Ownership Initiative of Indiana Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within IN. Charities of a similar size with the same main cause include International Association of Black Actuaries Inc ($1.7m), National Council of Jewish Women Incorporated ($1.7m) and Big We ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $23k (1.3% of expenses). Other salaries and wages came to $844k. At year end it held assets of $7.6m against liabilities of $4.7m, net assets of $2.8m. It reported 11 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.