NORTHEAST INDIANA INNOVATION CENTE… - Form 990 Financial Data

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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

2000

Legal Domicile

Principal Officer

RON DOUBLE

Phone

2604076442

Tax Period

2024-01-01 to 2024-12-31

NORTHEAST INDIANA INNOVATION CENTER INC, founded in 2000, is a community nonprofit in the Community Improvement sector that reported $1.5M in total revenue in fiscal year 2024. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $2.5M exceeded revenue, resulting in a 63% operating deficit.

Mission

WE ARE A COMPREHENSIVE ENTREPRENEURIAL CENTER WHOSE MISSION IS PUTTING BUSINESS GROWTH, INNOVATION AND ENTREPRENEURSHIP TO WORK FOR NORTHEAST INDIANA

Program Service Accomplishments

Program 1

Expenses: $1,876,597 Revenue: $652,046

THE NORTHEAST INDIANA INNOVATION CENTER (NIIC) IS A NATIONALLY RECOGNIZED BEST IN CLASS AND COMPREHENSIVE ENTREPRENEURSHIP RESOURCE CENTER DEDICATED TO ACCELERATING THE GROWTH AND DEVELOPMENT OF...

THE NORTHEAST INDIANA INNOVATION CENTER (NIIC) IS A NATIONALLY RECOGNIZED BEST IN CLASS AND COMPREHENSIVE ENTREPRENEURSHIP RESOURCE CENTER DEDICATED TO ACCELERATING THE GROWTH AND DEVELOPMENT OF INNOVATIVE BUSINESSES AND INCREASING THE LIKELIHOOD OF THEIR SUCCESS. FOR OVER 24 YEARS, THE NIIC HAS FOSTERED AN ENTREPRENEURIAL COMMUNITY THAT ALIGNS AND LEVERAGES THE FOUR PILLARS OF VENTURE SUCCESS - CAPITAL, TALENT, WORKSPACE AND NETWORKS. TODAY, WITH MANY KNOWLEGDABLE WORKERS ON OUR INNOVATION PARK CAMPUS, AND WITH PROGRAMS THROUGHOUT NORTHEAST INDIANA, THE NIIC IS THE REGION'S LARGEST AND MOST DIVERSE ENTREPRENEURIAL ECOSYSTEM.

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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 $805,467

Program Service Revenue $652,046

Investment Income $12,384

Other Revenue $45,181

TOTAL REVENUE $1,515,078

Expense Breakdown

Grants Paid $0

Salaries & Benefits $998,734

Fundraising Expenses $138,525

Program Expenses $1,876,597

Other Expenses $1,465,203

TOTAL EXPENSES $2,463,937

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,515,078	$2,117,873	-0.3%
Expenses	$2,463,937	$2,511,154	0.0%
Net Income	$-948,859	$-393,281	+1.4%

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

$202,368

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE FRITSCH	PRESIDENT	40.00	Officer	$192,558	$9,810	$202,368
RON DOUBLE	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
DAVID LONG	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JOHN NIEDERMAN	TREASURER	1.00	Officer Director	$0	$0	$0
TABITHA ERVIN	SECRETARY	1.00	Officer Director	$0	$0	$0
DR RON ELSENBAUMER	PAST CHAIR	1.00	Director	$0	$0	$0
DR MIKE MIRRO	EMERITUS	1.00	Director	$0	$0	$0
DR ANDREA ROBINSON	BOARD MEMBER	1.00	Director	$0	$0	$0
NELSON PETERS	BOARD MEMBER	1.00	Director	$0	$0	$0
GARY GATMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
PATRICK BUESCHING	BOARD MEMBER	1.00	Director	$0	$0	$0
LARRY MAYERS	BOARD MEMBER	1.00	Director	$0	$0	$0
MARK MICHAEL	BOARD MEMBER	1.00	Director	$0	$0	$0
ERIC OTTINGER	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN AVERY	BOARD MEMBER	1.00	Director	$0	$0	$0
DR RAE PEARSON	BOARD MEMBER	1.00	Director	$0	$0	$0
AARON ROBLES	BOARD MEMBER	1.00	Director	$0	$0	$0
LARRY ROWLAND	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN MCDONALD	BOARD MEMBER	1.00	Director	$0	$0	$0
TOM KILCOYNE	CEO	1.00	Officer Director	$0	$0	$0
MEGAN BERRY	CFO	1.00	Officer 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	$1,515,078	$2,463,937	$8,291,411	$-948,859
2023	$2,361,536	$2,829,155	$9,236,466	$-467,619
2022	$2,117,873	$2,511,154	$9,489,244	$-393,281
2021	$1,562,113	$2,346,853	$9,989,280	$-784,740
2020	$1,713,517	$2,594,783	$10,620,275	$-881,266
2019	$1,769,926	$2,444,233	$10,995,882	$-674,307
2018	$1,653,774	$2,274,067	$11,548,326	$-620,293

NORTHEAST INDIANA INNOVATION CENTER INC