Nonprofit · EIN 88-1138295
INDY INNOVATION CHALLENGE INC
Tax-exempt · INDIANAPOLIS, IN 46202
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $6,131,279 | $6,849,254 | -$717,975 | $691,269 | $1,157,004 | -$465,735 |
| December 31, 2023 | 990 | $5,189,966 | $4,982,259 | $207,707 | $1,314,889 | $1,062,649 | $252,240 |
| December 31, 2022 | 990 | $9,701,368 | $9,656,835 | $44,533 | $1,335,152 | $1,290,619 | $44,533 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $415,704
- Program service revenue
- $5,715,575
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $3,825
- Compensation of officers, directors and key employees
- $150,000
- Other salaries and wages
- $203,615
- Salaries, compensation and benefits (total)
- $353,615
- Professional fundraising fees
- $0
- Legal fees
- $70,269
- Accounting fees
- $40,557
- Occupancy
- $167,134
- Travel
- $604,180
- Depreciation
- $7,220
Balance sheet and other
- Total assets, start of year
- $1,314,889
- Total assets, end of year
- $691,269
- Total liabilities, end of year
- $1,157,004
- Net assets, end of year
- -$465,735
- Land, buildings and equipment
- $101,086
- Net assets without donor restrictions
- -$465,735
- Gross receipts
- $6,131,279
- Employees
- 0
- Volunteers
- 22
- Year formed
- 2022
- State of legal domicile
- IN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PAUL MITCHELL | PRESIDENT/CE Trustee or director, Officer | 20 | $150,000 |
| CHAD PITTMAN | DIRECTOR Trustee or director, Officer | 1 | $0 |
| DAVE ROBERTS | DIRECTOR Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PAUL MITCHELL | PRESIDENT/CE Trustee or director, Officer | 20 | $112,500 |
| CHAD PITTMAN | DIRECTOR Trustee or director, Officer | 1 | $0 |
| DAVE ROBERTSON | DIRECTOR Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2022: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PAUL MITCHELL | PRESIDENT/CE Trustee or director, Officer | 20 | $62,500 |
| CHAD PITTMAN | DIRECTOR Trustee or director, Officer | 1 | $0 |
| DAVE ROBERTSON | DIRECTOR Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1250 INDIANA AVE, INDIANAPOLIS, IN 46202-3209
- In care of
- % PAUL MITCHELL
- Principal officer (990 for 2024)
- PAUL MITCHELL, 1250 INDIANA AVE, INDIANAPOLIS, IN 46202
- Signed the 990
- PAUL MITCHELL, PRESIDENT/CEO
- Return prepared by
- L M HENDERSON & COMPANY LLP
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.
Program accomplishments
- ESTABLISH INDIANA AS THE GLOBAL HUB OF PERFORMANCE AUTOMATION INDUSTRY AND TO ATTRACT AND GROW OPERATIONS OF INDY INNOVATION CHALLENGE VIA CORPORATE SPONSORS AND UNIVERSITY TEAMS ALL OVER THE UNITED STATES.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 88-1138295
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N03)
- Assets (IRS master file)
- $691,269
- Income (IRS master file)
- $6,131,279
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $6,131,279 | $6,849,254 | $691,269 | XML |
| 990 | December 2023 | $5,189,966 | $4,982,259 | $1,314,889 | XML |
| 990 | December 2022 | $9,701,368 | $9,656,835 | $1,335,152 | XML |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 88-1138295).
Questions about INDY INNOVATION CHALLENGE INC
- What is the EIN of INDY INNOVATION CHALLENGE INC?
- The employer identification number (EIN) of INDY INNOVATION CHALLENGE INC is 88-1138295.
- Is INDY INNOVATION CHALLENGE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 2022.
- Are donations to INDY INNOVATION CHALLENGE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does INDY INNOVATION CHALLENGE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of INDY INNOVATION CHALLENGE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INDY INNOVATION CHALLENGE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of INDY INNOVATION CHALLENGE INC?
- The 990 for the year ended December 31, 2024 names PAUL MITCHELL.
- Who are the officers and directors of INDY INNOVATION CHALLENGE INC?
- The 990 for the year ended December 31, 2024 lists 3 people; 1 received compensation from the organization, the highest $150,000 (PAUL MITCHELL, PRESIDENT/CE).
- How much revenue does INDY INNOVATION CHALLENGE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $6,131,279, expenses of $6,849,254 and total assets of $691,269 at year end.
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