RILEY AREA DEVELOPMENT CORPORATION (EIN 310963438) - 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

1979

Legal Domicile

Principal Officer

BRUCE R BAIRD

Phone

3176378996

Tax Period

2022-01-01 to 2022-12-31

RILEY AREA DEVELOPMENT CORPORATION, founded in 1979, is a small nonprofit in the Community Improvement sector that reported $357K in total revenue in fiscal year 2022. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $756K exceeded revenue, resulting in a 111% operating deficit.

Mission

THE MISSION OF RILEY AREA DEVELOPMENT CORPORATION IS TO DEVELOP AND SUPPORT A SUSTAINABLE COMMUNITY ENVIRONMENT IN AND AROUND DOWNTOWN INDIANAPOLIS THROUGH AFFORDABLE HOUSING, ECONOMIC DEVELOPMENT, HEALTHY PUBLIC SPACE AND COMMUNITY DEVELOPMENT.

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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 (2022)

Revenue Breakdown

Contributions & Grants $97,584

Program Service Revenue $292,450

Investment Income $-110,576

Other Revenue $77,904

TOTAL REVENUE $357,362

Expense Breakdown

Grants Paid $0

Salaries & Benefits $126,879

Fundraising Expenses $0

Program Expenses $566,262

Other Expenses $628,856

TOTAL EXPENSES $755,735

Year-over-Year Comparison

	2022	2021	Change
Revenue	$357,362	$294,424	+0.2%
Expenses	$755,735	$968,795	-0.2%
Net Income	$-398,373	$-674,371	-0.4%

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

N/A

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

$32,692

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WALTER FREIHOFER	CHAIR	3.00	Officer Director	$0	$0	$0
KATHY OVERBEY	SECRETARY	1.00	Director	$0	$0	$0
JANINE BETSEY	DIRECTOR	1.00	Director	$0	$0	$0
MJ TRUJILLO	DIRECTOR	1.00	Director	$0	$0	$0
KATHLEEN LARA	DIRECTOR	1.00	Director	$0	$0	$0
TOM MARENDT	DIRECTOR	1.00	Director	$0	$0	$0
TERESA L SKIPPER	EXECUTIVE DIRECTOR 1/1- 5/31	40.00	Officer	$32,692	$0	$32,692
BRUCE R BAIRD	EXECUTIVE DIRECTOR 6/1 - 12/31	40.00	Officer	$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	No data	No data	No data	No data
2022	$357,362	$755,735	$8,104,060	$-398,373
2021	$294,424	$968,795	$8,646,606	$-674,371
2020	$698,441	$1,043,471	$9,402,532	$-345,030
2019	$1,303,096	$924,396	$10,528,380	$378,700

RILEY AREA DEVELOPMENT CORPORATION