INDY CHAMPIONSHIPS LEGACY INC (EIN 823758589) - 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

2018

Legal Domicile

Principal Officer

DAVID LEWIS

Phone

3172375000

Tax Period

2024-01-01 to 2024-10-17

INDY CHAMPIONSHIPS LEGACY INC, founded in 2018, is a micro nonprofit that reported $52K in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $675K exceeded revenue, resulting in a 1205% operating deficit.

Mission

THE CORPORATION SUPPORTS, BENEFITS, PERFORMS, AND CARRIES OUT THE CHARITABLE, EDUCATIONAL, AND OTHER EXEMPT PURPOSES OF THE INDIANA SPORTS CORPORATION (THE "SUPPORTED ORGANIZATION") THAT ARE RELATED TO THE HOSTING OF SPORTS CHAMPIONSHIP GAMES, TOURNAMENTS, AND/OR COMPETITIONS, AND OTHER EXTRAORDINARY EVENTS IN INDIANAPOLIS AND THE LEGACY PROJECTS RELATED THERETO.

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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 $44,875

Program Service Revenue $0

Investment Income $6,835

Other Revenue $0

TOTAL REVENUE $51,710

Expense Breakdown

Grants Paid $674,887

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $674,887

Other Expenses $0

TOTAL EXPENSES $674,887

Year-over-Year Comparison

	2024	2023	Change
Revenue	$51,710	$41,294	+0.3%
Expenses	$674,887	$70,829	+8.5%
Net Income	$-623,177	$-29,535	+20.1%

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

N/A

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID LEWIS	PRESIDENT	10.00	Officer Director	$0	$0	$0
CATHY LANGHAM	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
DERRICK BURKS	TREASURER	2.00	Officer Director	$0	$0	$0
RAFAEL SANCHEZ	SECRETARY	2.00	Officer Director	$0	$0	$0
MICHAEL BROWNING	BOARD MEMBER	2.00	Director	$0	$0	$0
MARK MILES	BOARD MEMBER	2.00	Director	$0	$0	$0
SCOTT DORSEY	BOARD MEMBER	2.00	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	$51,710	$674,887	No data	$-623,177
2023	$41,294	$70,829	$623,177	$-29,535
2022	$145,508	No data	$652,712	No data
2021	$813,375	$920,282	$507,204	$-106,907
2020	$1,074,556	$1,810,864	$614,111	$-736,308
2019	$1,350,419	No data	$1,350,419	No data

INDY CHAMPIONSHIPS LEGACY INC