Indiana State Chamber Of Commerce Foundation Inc
- Assets
- $1.2m
- Revenue
- $447.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Indianapolis, IN
- Founding
- 02/1982
- Data as of
- 10/2023
- EIN
- 31-1010164
Organization Overview
Indiana State Chamber Of Commerce Foundation Inc is located in Indianapolis, IN. The organization was established in 1982. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 10/2023, Indiana State Chamber Of Commerce Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indiana State Chamber Of Commerce Foundation 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 10/2023, Indiana State Chamber Of Commerce Foundation Inc generated $447.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.9% each year . All expenses for the organization totaled $301.2k during the year ending 10/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION CONDUCTS STUDIES, PRODUCES REPORTS, AND ESTABLISHES INITIATIVES TO GENERATE SOLUTIONS TO ENHANCE INDIANA'S ECONOMIC FUTURE AND QUALITY OF LIFE.
Describe the Organization's Program Activity:
INDIANA PROSPERITY 2035 IS A LONG-TERM ECONOMIC DEVELOPMENT ACTION PLAN DEVELOPED IN 2022 TO POSITION INDIANA TO BE A GLOBAL LEADER IN INNOVATION AND ECONOMIC OPPORTUNITY WHERE ENTERPRISES AND CITIZENS PROSPER. IT OUTLINES 32 INITIATIVES IN SIX FOCUS AREAS WHICH PROMOTE OUTSTANDING TALENT, K-12 EDUCATION EXCELLENCE, ECONOMIC INNOVATION, SUPERIOR INFRASTRUCTURE, QUALITY OF PLACE AND A HEALTH STATE. ACTIVITIES INCLUDE IN-DEPTH RESEARCH, PROGRAMMING, VOLUNTEER TASK FORCE WORK, REGIONAL AND STATEWIDE OUTREACH AND THE PLAN INCLUDES REPORT CARDS AND OTHER INITIATIVES TO TRACK PLAN PROGRESS A VOLUNTEER TASK FORCE LEAD THE DEVELOPMENT OF THE PLAN.
THE ACCELERATING INDIANA: VISION 2025+ INITIATIVE WAS LAUNCHED IN 2020 TO DEVELOP A BATTERY OF RESEARCH PROJECTS, STUDIES AND INFORMATIONAL RESOURCES TO ADDRESS ECONOMIC RECOVERY FROM THE PANDEMIC AND VARIOUS INITIATIVES TO PLAN, TEST AND ORGANIZE FOR VITAL RESTRUCTURING AND IMPROVEMENTS IN AREAS SUCH AS ECONOMIC DEVELOPMENT, EDUCATION, WORKFORCE, INFRASTRUCTURE, VACCINATION AND MORE.
SEVERAL PUBLIC POLICY ISSUE RESEARCH STUDIES WERE COMMISSIONED IN 2023, INCLUDING A COMPREHENSIVE STUDY OF THE STATE'S TAX SYSTEM AND LAWS, A STATEWIDE WATER RESOURCE AND INFRASTRUCTURE STUDY, AN ANALYSIS OF STUDENT PERFORMANCE AND OTHER METRICS RELATED TO INDIANA SCHOOL CORPORATION SIZE, A RESEARCH PROJECT ON THE STATE'S LABOR FORCE PARTICIPATION RATE AND MODELS FOR IMPROVING EMPLOYMENT AMONG UNDER-EMPLOYED DEMOGRAPHICS, AND AN ANALYSIS OF THE POST-SECONDARY EDUCATION AND TRAINING PROGRAMS RELATIVE TO SKILLS DEMANDED BY EMPLOYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Brinegar President And CEO | Officer | 2 | $0 |
Brock Hesler VP Membership & Fdn Relations | 5 | $25,000 | |
Jeff Brantley Secretary | Officer | 5 | $39,000 |
Michael Wells Director, Chair | OfficerTrustee | 1 | $0 |
Dan Elsener Director, Vice Chair | OfficerTrustee | 1 | $0 |
Ron Christian Director, Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $429,980 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $429,980 |
| Total Program Service Revenue | $0 |
| Investment income | $16,977 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $446,957 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $39,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $179,188 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,059 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,193 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,532 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,091 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $696 |
| Insurance | $0 |
| All other expenses | $46,460 |
| Total functional expenses | $301,219 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $400,865 |
| Pledges and grants receivable | $398,500 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,000 |
| Net Land, buildings, and equipment | $360 |
| Investments—publicly traded securities | $398,763 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,205,488 |
| Accounts payable and accrued expenses | $63,117 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $63,117 |
| Net assets without donor restrictions | $345,602 |
| Net assets with donor restrictions | $796,769 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,205,488 |