Business Ownership Initiative of Indiana Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
BUSINESS OWNERSHIP INITIATIVE OF INDIANA'S MISSION IS TO PROVIDE SERVICES AND SUPPORT TO EMERGING AND EXISTING BUSINESS OWNERS IN THE NINE-COUNTY, INDIANAPOLIS METROPOLITAN AREA. THE SERVICES INCLUDE MICRO LENDING, BUSINESS-TRAINING CLASSES AND WORKSHOPS, ONE-TO-ONE BUSINESS COUNSELING, LIFE COACHING, MENTORING AND ASSISTANCE WITH LOCATING AND OBTAINING FINANCIAL RESOURCES.
- Income
- $973,610
- Spending
- $1.7 million
- Spent on programs
- 80%
- Reserves
- 14.1 months of spending
- Largest source of income
- government grants, 65%
- Employees
- 67
- Volunteers
- 30
- Highest pay
- $148,535, executive director
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 55 out of 100. Higher than 24% of charities in its peer group (community improvement, $250k to $1m).
Reserves
35 of 35Spendable reserves would cover 14.1 months of spending.
Debt
5 of 20It owes 67% of what it owns.
Living within its means
0 of 15Spending exceeded income by 70% of income.
Income trend
0 of 15Income fell 43% on the year before.
Spending floor
15 of 1580% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 88 out of 100. Higher than 72% of charities in its peer group (community improvement, $250k to $1m).
Independent board
25 of 2513 of 14 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $1.3 million spent. The Business Ownership Initiative (BOI), located in Indianapolis, helps Central Indiana residents start & grow businesses by providing business resources, business coaching and access to financing. Whether you are a first time entrepreneur, developing a plan for a startup business or a small business veteran looking for a small business loan, BOI can help. BOI's services include the following: Entrepreneurial Services for Women: The Central Indiana Women's Business Center (CIWBC) is a cooperative program that partners with the U.S. Small Business Administration (SBA) to promote the creation and growth of businesses by women entrepreneurs, proving education business resources, and access to capital. Business Coaching and Training: BOI provides one-on-one, personalized business coaching free of charge. BOI also offers business training workshops and online business courses to educate entrepreneur and small business owners on a variety of business related topics from marketing to cash flow analysis. Our business coaches are qualified individuals who help our clients move forward and create success. This free service is provided by staff, contractors, and volunteers. Business coaching is also available in Spanish and is provided due to the generous support of The Clowes Fund, Inc. Small Business Lending: BOI offers micro loans from $1,000-$100,000+ for available start-ups or existing businesses.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since March 1998.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.