INDIANAPOLIS CULTURAL TRAIL INC (EIN 263831457) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2008

Legal Domicile

Principal Officer

KAREN HALEY

Phone

3176531948

Tax Period

2024-01-01 to 2024-12-31

INDIANAPOLIS CULTURAL TRAIL INC, founded in 2008, is a mid-sized nonprofit in the Community Improvement sector that reported $11.5M in total revenue in fiscal year 2024. Revenue surged 177% from the prior year, signaling strong growth momentum. Expenses of $15.6M exceeded revenue, resulting in a 35% operating deficit.

Mission

TO ENRICH LIVES AND CONNECT PEOPLE AND PLACES THROUGH DYNAMIC AND BEAUTIFUL EXPERIENCES AND USE THE INDIANAPOLIS CULTURAL TRAIL AND PACERS BIKESHARE PROGRAM AS A CATALYST FOR ECONOMIC GROWTH.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $9,888,354

Program Service Revenue $571,984

Investment Income $1,079,847

Other Revenue $6,956

TOTAL REVENUE $11,547,141

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,033,524

Fundraising Expenses $111,796

Program Expenses $15,270,628

Other Expenses $14,568,811

TOTAL EXPENSES $15,602,335

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,547,141	$4,172,900	+1.8%
Expenses	$15,602,335	$1,670,959	+8.3%
Net Income	$-4,055,194	$2,501,941	-2.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

885

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$237,141

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN HALEY	EXECUTIVE DIRECTOR	50.00	Officer	$144,801	$8,032	$152,833
REBECCA RIZZO	CFO	18.00	Officer	$81,853	$2,455	$84,308
KAREN SPATARO	CHAIR	3.00	Officer Director	$0	$0	$0
CAMILLE BLUNT	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JOSH CHRISTIE	TREASURER	2.00	Officer Director	$0	$0	$0
JOHN ANDREWS	SECRETARY	2.00	Officer Director	$0	$0	$0
JIM BISESI	BOARD MEMBER	1.50	Director	$0	$0	$0
PILAR CUADRA	BOARD MEMBER	1.00	Director	$0	$0	$0
TEDD GRAIN	BOARD MEMBER	1.00	Director	$0	$0	$0
BEN GRANDE	BOARD MEMBER	1.50	Director	$0	$0	$0
TARSIS LOPEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
VON LOVAN	BOARD MEMBER	1.00	Director	$0	$0	$0
PATRICK MURPHY	BOARD MEMBER	1.50	Director	$0	$0	$0
DAWN OLSON	YP BOARD CHAIR	1.00	Director	$0	$0	$0
DANIEL PARKER	BOARD MEMBER/CITY	1.00	Director	$0	$0	$0
DANIELLE PATTERSON MD	BOARD MEMBER	1.00	Director	$0	$0	$0
JASMIN WHITE	BOARD MEMBER	1.00	Director	$0	$0	$0
MARK ZWOYER	BOARD MEMBER	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$11,547,141	$15,602,335	$28,094,771	$-4,055,194
2023	$4,172,900	$1,670,959	$31,211,594	$2,501,941
2022	$1,939,191	$1,508,346	$32,832,786	$430,845
2021	$1,467,849	$1,548,476	$32,188,357	$-80,627
2020	$1,262,590	$1,269,016	$32,196,033	$-6,426
2019	$22,245,656	$1,275,081	$32,432,243	$20,970,575

INDIANAPOLIS CULTURAL TRAIL INC