INDIANA APARTMENT ASSOCIATION INC

EIN: 351160614

INDIANAPOLIS, IN

Total Revenue
$3,152,016
Total Expenses
$3,077,496
Total Assets
$6,473,890
Net Assets
$4,618,429
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
IN
Principal Officer
LYNNE PETERSEN
Phone
3178168900
Tax Period
2023-01-01 to 2023-12-31

INDIANA APARTMENT ASSOCIATION INC, founded in 1969, is a community nonprofit that reported $3.2M in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

TO PROMOTE, ADVISE AND PROTECT THE GENERAL INTERESTS OF THE OWNERSHIP AND MANAGEMENT OF MULTI-FAMILY HOUSING IN THE INDIANA AREA BY UNITING THOSE ENGAGED IN THE BUSINESS. TO UPHOLD THE DIGNITY OF THE PROPERTY MANAGEMENT PROFESSION AND TO ACQUIRE AND DISSEMINATE USEFUL BUSINESS INFORMATION AMONG ITS MEMBERS, TO FOSTER A SPIRIT OF COOPERATION AMONG ITS MEMBERS; TO CULTIVATE HIGHER STANDARDS OF PRACTICE AND BUSINESS ETHICS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,907,911
Investment Income $99,507
Other Revenue $144,598
TOTAL REVENUE $3,152,016

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,114,850
Fundraising Expenses $0
Other Expenses $1,962,646
TOTAL EXPENSES $3,077,496

Year-over-Year Comparison

2023 2022 Change
Revenue $3,152,016 $2,917,465 +0.1%
Expenses $3,077,496 $2,631,628 +0.2%
Net Income $74,520 $285,837 -0.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
25
Independent Members
25
Employees
12
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
6
$365,676
Total Directors
25
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TIM SHAFER PAST CHAIRMAN OF THE BOARD 0.50
Officer Director
$0 $0 $0
SANDY CARMIN CHAIRMAN OF THE BOARD 0.50
Officer Director
$0 $0 $0
JERRY COLLINS BOARD MEMBER 0.50
Officer Director
$0 $0 $0
CLARKE ARNOLD BOARD MEMBER 0.50
Officer Director
$0 $0 $0
CHAD GREIWE TREASURER 0.50
Officer Director
$0 $0 $0
KRISTIE ARNST BOARD MEMBER 0.50
Director
$0 $0 $0
JOHN EHRHARDT BOARD MEMBER 0.50
Director
$0 $0 $0
MICHAEL COLLINS BOARD MEMBER 0.50
Director
$0 $0 $0
RANDY ESCUE BOARD MEMBER 0.50
Director
$0 $0 $0
MIKE GORMAN BOARD MEMBER 0.50
Director
$0 $0 $0
JON HICKS BOARD MEMBER 0.50
Director
$0 $0 $0
ANGIE HUG BOARD MEMBER 0.50
Director
$0 $0 $0
CINDY KOEHLER BOARD MEMBER 0.50
Director
$0 $0 $0
CHARLIE KURTZ SECRETARY 0.50
Director
$0 $0 $0
GREG MARTIN BOARD MEMBER 0.50
Director
$0 $0 $0
BRUCE MILLS BOARD MEMBER 0.50
Director
$0 $0 $0
ALEX STOKELY VICE CHAIRMAN OF THE BOARD 0.50
Director
$0 $0 $0
GEORGE TIKIJIAN BOARD MEMBER 0.50
Director
$0 $0 $0
CHUCK TOWNSEND BOARD MEMBER 0.50
Director
$0 $0 $0
MJ TRUJILLO BOARD MEMBER 0.50
Director
$0 $0 $0
DAVID LAMB CHAPTER BOARD MEMBER 0.50
Director
$0 $0 $0
LYAL HUFF SUPPLIER BOARD MEMBER 0.50
Director
$0 $0 $0
LIZ TAYLOR SUPPLIER BOARD MEMBER 0.50
Director
$0 $0 $0
LUKE GILLIATT BOARD MEMBER 0.50
Director
$0 $0 $0
PEGGY MEYER CHAPTER STAFF MEMBER 0.50
Director
$0 $0 $0
LYNNE PETERSEN CAE PRESIDENT 40.00
Officer
$338,116 $27,560 $365,676
BRIAN SPAULDING DIRECTOR OF GOVERNMENT AFF 40.00
Highest
$186,302 $20,575 $206,877
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
2023 $3,152,016 $3,077,496 $6,473,890 $74,520
2022 $2,917,465 $2,631,628 $6,032,089 $285,837
2021 $2,912,409 $2,405,765 $4,827,785 $506,644
2020 $2,092,264 $2,034,898 $4,410,617 $57,366
2019 $2,723,619 $2,372,297 $4,063,679 $351,322
2018 $2,582,313 $2,380,777 $3,252,916 $201,536
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