Near East Area Renewal Inc

Organization Overview

Near East Area Renewal Inc is located in Indianapolis, IN. The organization was established in 2004. According to its NTEE Classification (L81) the organization is classified as: Home Improvement & Repairs, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Near East Area Renewal Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Near East Area Renewal Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, Near East Area Renewal Inc generated $993.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $730.5k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

FROM HOME RENOVATIONS AND ENERGY AUDITS TO COMMUNITY OUTREACH AND EDUCATION, NEAR IS WORKING TO MAKE THE NEAR EASTSIDE OF INDIANAPOLIS EVEN BETTER. WE WORK WITH HOMEOWNERS, COMMUNITY LEADERS, AND RESIDENTS TO ENSURE THE DEVELOPMENT OF SAFE AND AFFORDABLE HOUSING, WHILE ENSURING THAT OUR NEIGHBORHOODS THRIVE. GENUINE COMMUNITY AMONG DIVERSE AND EMPOWERED NEIGHBORS IS OUR PRIMARY GOAL.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ASSEMBLING AND COORDINATING RESOURCES TO ACQUIRE AND REHABILITATE SINGLE FAMILY HOMES ON THE NEAR EAST SIDE OF INDIANAPOLIS, FOR THE ULTIMATE SALE OR RENTAL TO ELIGIBLE FAMILIES.


COMMUNITY AND ECONOMIC DEVELOPMENT: NEAR FOCUSES ON ATTRACTING AND SUPPORTING BUSINESSES THAT WOULD SERVE AND EMPLOY THE COMMUNITY'S LOW-INCOME RESIDENTS AND SUPPORT LOCAL LOW-INCOME ENTREPRENEURS. NEAR ALSO WORKS WITH OTHER ORGANIZATIONS ON DEVELOPMENT PROJECTS TO FURTHER ENHANCE THE NEAR EAST COMMUNITY. THESE EFFORTS INCLUDE LANDSCAPING AND BEAUTIFICATION OF THE PAYNE GATEWAY, COORDINATING A GREENSPACE PRESERVATION PROGRAM, DEVELOPING NEARINDYGUIDE.ORG TO PROMOTE LOCAL BUSINESSES, IMPLEMENTING ART PROJECTS DESIGNED BY NEAR EAST AREA TEAMS, PROVIDING TECHNICAL AND MARKETING RESOURCES TO LOCAL BUSINESSES, AS WELL AS THE SHERMAN PARK PROJECT AND THE MINNIE HARTMANN CENTER PROJECT. NEAR COORDINATED THE EFFORTS OF ENGAGING NEIGHBORS TO PLAN FOR THE REUSE OF A 50-ACRE BROWNFIELD IN SHERMAN PARK. NEAR HAS PARTNERED WITH OTHER ORGANIZATIONS TO TRANSFORM INDIANAPOLIS PUBLIC SCHOOL 78, THE MINNIE HARTMANN ELEMENTARY SCHOOL, INTO A CENTER OFFERING SAFE, AFFORDABLE HOUSING FOR SENIORS AND FULL-DAY CHILD DAYCARE FOR CHILDREN AGED SIX WEEKS TO FIVE YEARS.


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Board, Officers & Key Employees

Name (title)Compensation
John Franklin Hay
Executive Director
$74,726
Gregory Touney
Chair/president
$0
Jonathan Ehlke
Vice Chair/vice President
$0
Emel Sener
Treasurer
$0
Desma Belsaas
Director
$0
Josh Anderson
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Steven R Keller Construction
Construction
$432,066
Carley Custom Builders
Construction
$359,791
Reynolds Construction Inc
Construction
$152,660
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$20,327
Related organizations$0
Government grants $674,510
All other contributions, gifts, grants, and similar amounts not included above$255,528
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$950,365
Total Program Service Revenue$27,730
Investment income $765
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$24,892
Net Income from Fundraising Events -$368
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $993,916

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Near East Area Renewal Inc has recieved totaling $173,275.

Awarding OrganizationAmount
Indianapolis Neighborhood Housing Partnership Inc

Indianapolis, IN

PURPOSE: CORE OPERATING SUPPORT

$150,000
Local Initiatives Support Corporation

New York, NY

PURPOSE: SEE PART IV

$23,275
View Grant Recipient Profile

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