INDIANA APARTMENT ASSOCIATION INC

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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

1969

Legal Domicile

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.

Program Service Accomplishments

Program 1

THE ASSOCIATION REPRESENTS MORE THAN 280,000 UNITS THROUGHOUT THE STATE OF INDIANA INCLUDING MEMBERS IN 1 AFFILIATE CHAPTER AND 6 COUNCIL AREAS. THE ASSOCIATION PROVIDES ITS MEMBERS WITH VARIOUS...

THE ASSOCIATION REPRESENTS MORE THAN 280,000 UNITS THROUGHOUT THE STATE OF INDIANA INCLUDING MEMBERS IN 1 AFFILIATE CHAPTER AND 6 COUNCIL AREAS. THE ASSOCIATION PROVIDES ITS MEMBERS WITH VARIOUS EVENTS, PROGRAMS AND SERVICES INCLUDING AN ANNUAL CONVENTION, EDUCATION SEMINARS, PERIODICALS, AND AN ANNUAL MEMBERSHIP DIRECTORY. THE INDIANA MULTI FAMILY HOUSING POLITICAL ACTION COMMITTEE (IMFHPAC) IS A SEGREGATED FUND OF THE ASSOCIATION. THE ASSOCIATION PROVIDES OWNERS AND MANAGEMENT COMPANIES WITH A CONSTRUCTIVE FORCE THROUGH WHICH TO WORK FOR THE BETTERMENT OF THE MULTIFAMILY HOUSING INDUSTRY.

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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 (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

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

$365,676

Total Directors

Key Employees

Highest Compensated

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