Institute For Affordable Transportation Inc
- Assets
- $391.3k
- Revenue
- $319.5k
- Investments
- $0.0
- Employees
- 6
- Location
- Indianapolis, IN
- Founding
- 05/2002
- Data as of
- 12/2023
- EIN
- 35-2133517
Organization Overview
Institute For Affordable Transportation Inc is located in Indianapolis, IN. The organization was established in 2002. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 12/2023, Institute For Affordable Transportation Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For Affordable Transportation 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 12/2023, Institute For Affordable Transportation Inc generated $319.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $261.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DRIVE HOPE, CONNECT PEOPLE AND TRANSFORM LIVES THROUGH RURAL TRANSPORT SOLUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR MOBILE FACTORY WAS SENT FROM KAMPALA TO NORTHERN UGANDA TO ASSIST INTRAINING PARTNERS HOW TO PRODUCE BUVS. THREE BUVS WERE SENT TO A CHARITY IN SW UGANDA. TWO BUVSWERE BUILT IN ZAMBIA WITH 7.5 FT CARGO BEDS AND HIGHER SIDES. OUR PARTNER INBENIN BEGAN PRODUCING BUVS AND WE SENT AN ENGINEER TO HELP TRAIN THEM. WEWERE BLESSED BY 3 AMAZING INTERNS, TWO NEW VOLUNTEER WELDERS. WE COLLECTEDMUCH EQUIPMENT FOR THE FUTURE CAMEROON BUV FACTORY. OUR CAMEROON PARTNERCAME TO INDIANAPOLIS TO TRAIN ON BUV TECHNOLOGY IN THE FALL.WE INSTALLED MATCHING OFFICE FURNITURE (DONATED). WE RECEIVED MANYENGINE PARTS FROM 10 DONATED DIESEL ENGINES. WE SET UP A RELATIONSHIP WITH ACONTRACT MANUFACTURER TO HELP US BUILD FRAMES IN QUANTITY AT LOWER COST. ANOCEAN CONTAINER WITH PARTS FOR 8 BUVS ARRIVED IN SOUTH SUDAN FOR A CHURCHPLANTING MINISTRY. WE GAVE TOURS AT THE BUV FACILITY TO PEOPLE FROM 20 DIFFERENT COUNTRIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Olawale Board Member | Trustee | 3 | $0 |
Mike Pratt Board Member | Trustee | 5 | $0 |
Awujoola Itau Board Member | Trustee | 3 | $0 |
Doug Mccolgin Board Member | Trustee | 3 | $0 |
Will Austin Executive Director | OfficerTrustee | 40 | $0 |
Ralph Meyer Treasurer | OfficerTrustee | 5 | $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 | $283,067 |
| Noncash contributions included in lines 1a–1f | $25,200 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $283,067 |
| Total Program Service Revenue | $2,686 |
| Investment income | $495 |
| 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 | $319,458 |
| 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. | $85,447 |
| Compensation of current officers, directors, key employees. | $5,981 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,464 |
| Pension plan accruals and contributions | $5,237 |
| Other employee benefits | $0 |
| Payroll taxes | $9,856 |
| Fees for services: Management | $4,039 |
| Fees for services: Legal | $6,135 |
| Fees for services: Accounting | $12,082 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,211 |
| Office expenses | $5,685 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,437 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $316 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,548 |
| Insurance | $5,096 |
| All other expenses | $7,386 |
| Total functional expenses | $260,973 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $153,688 |
| Savings and temporary cash investments | $111,530 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $32,000 |
| Inventories for sale or use | $85,000 |
| Prepaid expenses and deferred charges | $193 |
| Net Land, buildings, and equipment | $8,870 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $391,281 |
| Accounts payable and accrued expenses | $3,132 |
| 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 | $3,132 |
| Net assets without donor restrictions | $388,149 |
| Net assets with donor restrictions | $0 |
| 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 | $391,281 |