INDY INNOVATION CHALLENGE INC (EIN 881138295) - 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

2022

Legal Domicile

Principal Officer

PAUL MITCHELL

Tax Period

2023-01-01 to 2023-12-31

INDY INNOVATION CHALLENGE INC, founded in 2022, is a community nonprofit in the Recreation & Sports sector that reported $5.2M in total revenue in fiscal year 2023. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $5.0M left a modest 4% surplus.

Mission

BROADLY COLLABORATIVE EFFORT THAT BRINGS TOGETHER PUBLIC-PRIVATE PARTNERSHIPS AND ACADEMIC INSTITUTIONS TO CHALLENGE UNIVERSITY STUDENTS AROUND THE WORLD TO IMAGINE, INVENT AND PROVE A NEW GENERATION OF AUTOMATED VEHICLE SOFTWARE TO RUN FULLY AUTONOMOUS RACECARS AND INSPIRE THE NEXT GENERATION OF STEM TALENT.

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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 $652,226

Program Service Revenue $4,537,740

Investment Income $0

Other Revenue $0

TOTAL REVENUE $5,189,966

Expense Breakdown

Grants Paid $50,000

Salaries & Benefits $186,153

Fundraising Expenses $0

Other Expenses $4,746,106

TOTAL EXPENSES $4,982,259

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,189,966	$9,701,368	-0.5%
Expenses	$4,982,259	$9,656,835	-0.5%
Net Income	$207,707	$44,533	+3.7%

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

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

$112,500

Total Directors

$112,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL MITCHELL	PRESIDENT/CE	20.00	Officer Director	$112,500	$0	$112,500
CHAD PITTMAN	DIRECTOR	1.00	Officer Director	$0	$0	$0
DAVE ROBERTSON	DIRECTOR	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	No data	No data	No data	No data
2023	$5,189,966	$4,982,259	$1,314,889	$207,707
2022	$9,701,368	$9,656,835	$1,335,152	$44,533

INDY INNOVATION CHALLENGE INC