INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC (EIN 20-2664607)
Tax period
2022-07-01 to 2023-06-30
Filed
2025-12-19
IRS object ID
202503539349300340
Schema version
2022v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-12-19T11:34:40-06:00ReturnTs
Tax Period End2023-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN352123203PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1KSM BUSINESS SERVICES INCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 40857AddressLine1Txt
CityINDIANAPOLISCityNm
State AbbreviationINStateAbbreviationCd
ZIP46240ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2022-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN202664607EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1INDIANA ECONOMIC DEVELOPMENTBusinessNameLine1Txt
Business Name Line2FOUNDATION INCBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlINDIBusinessNameControlTxt
Phone8004638081PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11 NORTH CAPITAL AVEAddressLine1Txt
CityINDIANAPOLISCityNm
State AbbreviationINStateAbbreviationCd
ZIP46204ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJOSHUA RICHARDSONPersonNm
Person TitleIEDC PRESIDENTPersonTitleTxt
Phone8004638081PhoneNum
Signature2025-12-16SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonCASSE TATEPreparerPersonNm
PTINP01271193PTIN
Phone3175802000PhoneNum
Preparation2025-12-15PreparationDt
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerJOSHUA RICHARDSONPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line11 NORTH CAPITAL AVEAddressLine1Txt
CityINDIANAPOLISCityNm
State AbbreviationINStateAbbreviationCd
ZIP46204ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$1,570,847GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressHTTPS://IEDC.IN.GOV/WebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2005FormationYr
Legal Domicile StateINLegalDomicileStateCd
Activity Or MissionTO PROMOTE INDUSTRIAL AND BUSINESS DEVELOPMENT, DIVERSIFICATION OF INDIANA'S ECONOMY, AND OVERALL ECONOMIC GROWTH OF INDIANA.ActivityOrMissionDesc
Voting Members Governing Body14VotingMembersGoverningBodyCnt
Voting Members Independent14VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers13TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$2,595,349PYContributionsGrantsAmt
CY Contributions Grants$1,546,863CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$3,137PYInvestmentIncomeAmt
CY Investment Income$5,411CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$18,573CYOtherRevenueAmt
PY Total Revenue$2,598,486PYTotalRevenueAmt
CY Total Revenue$1,570,847CYTotalRevenueAmt
PY Grants And Similar Paid$3,629PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$2,540CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$156,562CYTotalFundraisingExpenseAmt
PY Other Expenses$4,388,783PYOtherExpensesAmt
CY Other Expenses$2,251,170CYOtherExpensesAmt
PY Total Expenses$4,392,412PYTotalExpensesAmt
CY Total Expenses$2,253,710CYTotalExpensesAmt
PY Revenues Less Expenses-$1,793,926PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$682,863CYRevenuesLessExpensesAmt
Total Assets BOY$2,084,254TotalAssetsBOYAmt
Total Assets EOY$1,274,371TotalAssetsEOYAmt
Total Liabilities BOY$412,271TotalLiabilitiesBOYAmt
Total Liabilities EOY$285,251TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$1,671,983NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$989,120NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTO PROMOTE INDUSTRIAL AND BUSINESS DEVELOPMENT, DIVERSIFICATION OF INDIANA'S ECONOMY, AND OVERALL ECONOMIC GROWTH OF INDIANA; TO PROMOTE THE RETENTION, EXPANSION, GROWTH, AND MODERNIZATION OF INDIANA'S BUSINESSES; TO PROMOTE THE CREATION OF NEW JOBS, RETENTION OF EXISTING JOBS, AND THE DEVELOPMENT OF ENTRPRENEURIAL ACTIVITIES IN INDIANA; AND OTHERWISE TO ASSIST THE GOVERNOR AND THE INDIANA ECONOMIC DEVELOPMENT CORPORATION (IEDC) IN REACHING THEIR ECONOMIC GOALS BY RAISING FUNDS FROM THE GENERAL PUBLIC AND NON-PROFIT FOUNDATIONS AND ORGANIZATIONS.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$1,674,512ExpenseAmt
Grant$2,540GrantAmt
Revenue$0RevenueAmt
DescIN 2022, THE ORGANIZATION CATALYZED HISTORIC ECONOMIC GROWTH ACROSS INDIANA, SECURING $22 BILLION IN NEW COMMITTED CAPITAL INVESTMENT A 260% INCREASE FROM 2021. THIS SUPPORTED 218 BUSINESS PROJECTS AND GENERATED 24,059 EXPECTED NEW JOBS WITH AN AVERAGE WAGE OF $34.71/HOUR, EXCEEDING THE STATE AVERAGE BY 27.6%. THESE RESULTS MARKED NEW RECORDS IN BOTH INVESTMENT AND JOB CREATION. STRATEGIC SECTOR DEVELOPMENT INCLUDED MAJOR ADVANCEMENTS IN MICROELECTRONICS, ELECTRIC VEHICLES, AND CLEAN ENERGY. SIX NEW MICROELECTRONICS INVESTMENTS WERE ANNOUNCED, INCLUDING A $1.8 BILLION SEMICONDUCTOR R&D AND PRODUCTION FACILITY BY SKYWATER TECHNOLOGY AND A NEW DESIGN CENTER BY TAIWAN-BASED MEDIATEK IN PARTNERSHIP WITH PURDUE UNIVERSITY. THE ORGANIZATION ALSO LAUNCHED WESTGATE ONE, A MICROELECTRONICS HUB IN DAVIESS COUNTY, ATTRACTING OVER $300 MILLION IN INVESTMENT AND MORE THAN 500 NEW JOBS. INDIANA'S ELECTRIC VEHICLE SECTOR EXPANDED WITH STELLANTIS AND SAMSUNG SDI'S JOINT VENTURE TO BUILD A NEXT-GEN EV BATTERY FACILITY IN KOKOMO, CREATING 1,400 JOBS. GENERAL MOTORS COMMITTED $491 MILLION TO UPGRADE ITS MARION METAL PLANT, AND SOULBRAIN MI INVESTED $75 MILLION IN LITHIUM-ION BATTERY PRODUCTION. INDIANA RANKED #4 NATIONALLY FOR NEW CLEAN ENERGY PROJECTS, WITH 5,104 MEGAWATTS UNDER DEVELOPMENT. DORAL RENEWABLES BROKE GROUND ON THE SECOND PHASE OF MAMMOTH SOLAR, SET TO BECOME THE LARGEST SOLAR INSTALLATION IN THE U.S., DELIVERING 1.3 GIGAWATTS OF CLEAN ENERGY ACROSS 13,000 ACRES. THE ORGANIZATION ALSO JOINED A SEVEN-STATE MIDWEST COALITION TO PURSUE A REGIONAL HYDROGEN HUB, ADVANCING ENERGY SECURITY AND AFFORDABILITY. THE ORGANIZATION ELEVATED INDIANA'S GLOBAL PRESENCE THROUGH THE INAUGURAL INDIANA GLOBAL ECONOMIC SUMMIT, HELD IN MAY 2022. THE SUMMIT WELCOMED 944 REGISTRANTS, 29 INTERNATIONAL DELEGATIONS, AND 75 SPEAKERS, GENERATING $1.24 MILLION IN SPONSORSHIPS AND $14.9 MILLION IN EARNED MEDIA VALUE. ADDITIONALLY, INDIANA LEADERS PARTICIPATED IN THE UNITED NATIONS CLIMATE CHANGE CONFERENCE (COP27), JOINING GLOBAL CHANGEMAKERS TO PROMOTE CLEAN ENERGY INNOVATION AND ATTRACT INTERNATIONAL INVESTMENT. THESE ACCOMPLISHMENTS POSITIONED INDIANA AS A FORWARD-LOOKING LEADER IN ADVANCED INDUSTRIES, SUSTAINABILITY, AND GLOBAL COLLABORATION DRIVING INCLUSIVE ECONOMIC GROWTH AND PREPARING THE STATE FOR THE ECONOMY OF THE FUTURE.Desc
Total Program Service Expenses$1,674,512TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign ActivitiesYes (1)ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document11IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members14GoverningBodyVotingMembersCnt
Independent Voting Member14IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1RYAN MILLERBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8004638081PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11 NORTH CAPITAL AVEAddressLine1Txt
CityINDIANAPOLISCityNm
State AbbreviationINStateAbbreviationCd
ZIP46204ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt
GOV ERIC HOLCOMB
CHAIRMAN1.00Yes (X)Yes (X)$0$0$0
LINDA E WHITE
DIRECTOR1.00Yes (X)$0$0$0
MICHAEL KUBACKI
DIRECTOR1.00Yes (X)$0$0$0
JOEL GORELICK
DIRECTOR1.00Yes (X)$0$0$0
DAYTON MOLENDORP
DIRECTOR1.00Yes (X)$0$0$0
MARK MILES
DIRECTOR1.00Yes (X)$0$0$0
FRED MERRITT
DIRECTOR1.00Yes (X)$0$0$0
AMY SCHUMACHER
DIRECTOR1.00Yes (X)$0$0$0
JOHN THOMPSON
DIRECTOR1.00Yes (X)$0$0$0
RICK JOHNSON
DIRECTOR1.00Yes (X)$0$0$0
KRISTIN MARCUCCILLI
DIRECTOR1.00Yes (X)$0$0$0
DOMINIC GROTE
DIRECTOR1.00Yes (X)$0$0$0
JOHN LECHLEITER
DIRECTOR1.00Yes (X)$0$0$0
SUE MCCLOSKEY
DIRECTOR1.00Yes (X)$0$0$0
BRAD CHAMBERS
IEDC SECRETARY OF COMMERCE1.00Yes (X)$0$0$040.00
DAVID ROSENBERG
IEDC EXEC. VP1.00Yes (X)$0$206,536$42,85940.00
ROBERT PAGLIA
IEDC CFO (END JULY 2022)1.00Yes (X)$0$191,578$41,20140.00
HEIDI BABKOWSKI
IEDC CFO (BEGIN JULY 2022)1.00Yes (X)$0$37,395$9,70440.00
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$435,509TotReportableCompRltdOrgAmt
Total Other Compensation$93,764TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (2 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
CENTERPLATE
100 S CAPITOL AVE SUITE 300INDIANAPOLISIN46225EVENT SERVICES$161,137
CIRCLE BLOCK PARTNERS LLC DBA CONRAD IND
50 W WASHINGTON STREETINDIANAPOLISIN46204EVENT SERVICES$121,503
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K2CntrctRcvdGreaterThan100KCnt
All Other Contributions$1,546,863AllOtherContributionsAmt
Total Contributions$1,546,863TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$5,411TotalRevenueColumnAmt
Exclusion$5,411ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescCREDIT CARD REBATESDesc
Business900099BusinessCd
Total Revenue Column$18,573TotalRevenueColumnAmt
Exclusion$18,573ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$18,573OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,570,847TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$23,984ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$2,540TotalAmt
Program Services$2,540ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$902TotalAmt
Management And General$902ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$156,562TotalAmt
Fundraising$156,562FundraisingAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$21,659TotalAmt
Program Services$16,749ProgramServicesAmt
Management And General$4,910ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$1,216TotalAmt
Program Services$91ProgramServicesAmt
Management And General$1,125ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$5,236TotalAmt
Program Services$1,638ProgramServicesAmt
Management And General$3,598ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$18,261TotalAmt
Program Services$12,046ProgramServicesAmt
Management And General$6,215ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$1,075,912TotalAmt
Program Services$1,061,190ProgramServicesAmt
Management And General$14,722ManagementAndGeneralAmt

Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp

FieldValueIRS element (for citing)
Total$719,139TotalAmt
Program Services$575,311ProgramServicesAmt
Management And General$143,828ManagementAndGeneralAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$4,947TotalAmt
Program Services$4,947ProgramServicesAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescBAD DEBTDesc
Total$247,336TotalAmt
Management And General$247,336ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$2,253,710TotalAmt
Program Services$1,674,512ProgramServicesAmt
Management And General$422,636ManagementAndGeneralAmt
Fundraising$156,562FundraisingAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$1,463,242BOYAmt
EOY$871,303EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$621,012BOYAmt
EOY$403,068EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$2,084,254BOYAmt
EOY$1,274,371EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$412,271BOYAmt
EOY$285,251EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$412,271BOYAmt
EOY$285,251EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,562,749BOYAmt
EOY$879,886EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$109,234BOYAmt
EOY$109,234EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,671,983BOYAmt
EOY$989,120EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$2,084,254BOYAmt
EOY$1,274,371EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$682,863ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$3,020,215CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,321,217CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$804,458CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$2,595,349CurrentTaxYearMinus1YearAmt
Current Tax Year$1,546,863CurrentTaxYearAmt
Total$9,288,102TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$3,020,215CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,321,217CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$804,458CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$2,595,349CurrentTaxYearMinus1YearAmt
Current Tax Year$1,546,863CurrentTaxYearAmt
Total$9,288,102TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$5,784,024SubstantialContributorsTotAmt
Public Support Total170$3,504,078PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$20,306CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$40,980CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$4,570CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$3,137CurrentTaxYearMinus1YearAmt
Current Tax Year$5,411CurrentTaxYearAmt
Total$74,404TotalAmt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year$18,573CurrentTaxYearAmt
Total$18,573TotalAmt
FieldValueIRS element (for citing)
Total Support$9,381,079TotalSupportAmt
Public Support CY1700.37350PublicSupportCY170Pct
Public Support PY1700.33770PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:FormAndLineReferenceDesc
ExplanationOTHER INCOME - 2022 AMOUNT: $ 18,573.ExplanationTxt

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule F IRS990ScheduleF

Account Activities Outside US AccountActivitiesOutsideUSGrp (3 entries)

RegionRegionTxtOfficesOfficesCntEmployeeEmployeeCntType Of Activities ConductedTypeOfActivitiesConductedTxtSpecific Services ProvidedSpecificServicesProvidedTxtRegion Total ExpendituresRegionTotalExpendituresAmt
EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM00PROGRAM SERVICESTRAVEL EXPENSES FOR SPEAKING ENGAGEMENTS AND STATE REPRESENTATION$772,860
EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA,00PROGRAM SERVICESTRAVEL EXPENSES FOR SPEAKING ENGAGEMENTS AND STATE REPRESENTATION$333,896
MIDDLE EAST AND NORTH AFRICA00PROGRAM SERVICESTRAVEL EXPENSES FOR SPEAKING ENGAGEMENTS AND STATE REPRESENTATION$685,975
FieldValueIRS element (for citing)
Subtotal Offices0SubtotalOfficesCnt
Subtotal Employees0SubtotalEmployeesCnt
Continuation Total Office0ContinuationTotalOfficeCnt
Continuation Total Employee0ContinuationTotalEmployeeCnt
Total Office0TotalOfficeCnt
Total Employee0TotalEmployeeCnt
Subtotal Spent$1,792,731SubtotalSpentAmt
Continuation Spent$0ContinuationSpentAmt
Total Spent$1,792,731TotalSpentAmt
Transfer To Foreign Corp0TransferToForeignCorpInd
Interest In Foreign Trust0InterestInForeignTrustInd
Foreign Corp Ownership0ForeignCorpOwnershipInd
Passive Foreign Investmest Co0PassiveForeignInvestmestCoInd
Foreign Partnership0ForeignPartnershipInd
Boycott Countries0BoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART III ACCOUNTING METHOD:FormAndLineReferenceDesc

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
First Class Or Charter TravelYes (X)FirstClassOrCharterTravelInd
Travel For CompanionsYes (X)TravelForCompanionsInd
Written Policy Ref T And E ExpnssYes (1)WrittenPolicyRefTAndEExpnssInd
Substantiation RequiredYes (1)SubstantiationRequiredInd
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org0CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs0CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org0CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs0CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments0AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
DAVID ROSENBERG
IEDC EXEC. VP$0$205,385$0$0$0$1,151$0$22,624$0$20,235$0$249,395$0$0
ROBERT PAGLIA
IEDC CFO (END JULY 2022)$0$190,500$0$0$0$1,078$0$20,966$0$20,235$0$232,779$0$0

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 1AFormAndLineReferenceDesc
ExplanationTHE IEDC TRAVEL POLICY DOES NOT ADDRESS FIRST-CLASS AIRFARE. BUSINESS CLASS IS PERMITTED WHEN TOTAL FLIGHT TIME EXCEEDS 14 HOURS. EXCEPTIONS ARE MADE WHEN THE TRAVELING PARTY ARE TRAVELING AS PART OF A DELEGATION, AND BUSINESS CLASS IS ALLOWED REGARDLESS OF FLIGHT DURATION IN THESE CASES. CHARTER SERVICES ARE PRE-ARRANGED TO SUPPORT COORDINATED GROUP ACTIVITIES. SPOUSE'S TRAVEL EXPENSES ARE COVERED WHEN THE PRESENCE IS FOR PUBLIC DIPLOMACY OR FOR DIPLOMATIC FUNCTIONS.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990- VOLUNTARY FILINGTHE INDIANA ECONOMIC DEVELOPMENT FOUNDATION (ORGANIZATION) IS EXEMPT FROM FILING FORM 990. THE ORGANIZATION APPLIED FOR EXEMPTION FROM FILING AND RECEIVED APPROVAL FROM THE IRS ON JUNE 14, 2011 UNDER REVENUE PROCEDURE 95-48. ON APRIL 8, 2025 THE GOVERNOR OF THE STATE OF INDIANA ISSUED EXECUTIVE ORDER 25-43 COMPELLING CERTAIN ORGANIZATIONS TO FILE FORM 990. AS A RESULT, THE ORGANIZATION IS FILING FORM 990 TO COMPLY WITH THIS EXECUTIVE ORDER, EVEN THOUGH THE FILING IS NOT REQUIRED BY THE INTERNAL REVENUE CODE..
FORM 990, PART VI, SECTION B, LINE 11BA COPY OF THE 990 IS BEING PROVIDED TO THE BOARD BEFORE FILING.
FORM 990, PART VI, SECTION B, LINE 12CTHE OFFICERS AND BOARD OF DIRECTORS ARE REQUIRED TO DISCLOSE CONFLICTS ANNUALLY PER POLICY. ASSOCIATED ANNUAL TRAINING IS PROVIDED WITH ACKNOWLEDGEMENT AND WITH A REQUIREMENT TO UPLOAD A CURRENT CONFLICT OF INTEREST FORM. THE ORGANIZATION MAINTAINS A CONFLICT OF INTEREST LOG IN A CONTENT RESOURCE MANAGMENT SYSTEM AND REGULARY REVIEWS CONFLICT OF INTEREST DOCUMENTS.
FORM 990, PART VI, SECTION B, LINE 15WHILE THE INDIANA ECONOMIC DEVELOPMENT FOUNDATION DOES NOT COMPENSATE ANY OFFICERS, THE OFFICERS RECEIVE COMPENSATION FROM A RELATED ORGANIZATION, IEDC. THE IEDC PROCESS FOR DETERMINING COMPENSATION: THE OFFICERS ARE PAID BY THE STATE OF INDIANA. THE PROCESS FOR APPROVAL IS DONE THROUGH THE STATE'S STRATEGIC HIRING COMMITTEE (SHC). THE STRATEGIC HIRING COMMITTEE (SHC) IS COMPRISED OF REPRESENTATIVES FROM STATE BUDGET AGENCY (SBA), STATE PERSONNEL DEPARTMENT (SPD), OFFICE OF MANAGEMENT AND BUDGET (OMB), AND THE GOVERNOR'S OFFICE. THE SHC IS TASKED WITH MANAGING AND REVIEWING POSITION AND HIRING REQUESTS FOR STATE AGENCIES. THE GOAL OF THE COMMITTEE IS TO ASSIST IN THE EFFECTIVE MANAGEMENT OF AGENCY BUDGETS RELATED TO SALARIES AND BENEFITS.
FORM 990, PART VI, SECTION C, LINE 19THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND ARE AVAILABLE ON THE IEDC TRANSPARENCY PORTAL.
FORM 990, PART VI, SECTION B, LINE 13 AND 14THE IED FOUNDATION FOLLOWS THE POLICIES SET IN PLACE BY THE STATE OF INDIANA AND INDIANA ECONOMIC DEVELOPMENT FOUNDATION'S RELATED AND CONTROLLING ORGANIZATION, INDIANA ECONOMIC DEVELOPMENT CORPORATION.
FORM 990, PART XII, LINE 2C:THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1INDIANA ECONOMIC DEVELOPMENT CORPORATIONBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line11 NORTH CAPITOL AVE SUITE 700AddressLine1Txt
CityINDIANAPOLISCityNm
State AbbreviationINStateAbbreviationCd
ZIP46204ZIPCd
FieldValueIRS element (for citing)
EIN356000158EIN
Primary ActivitiesSTATE AGENCYPrimaryActivitiesTxt
Legal Domicile StateINLegalDomicileStateCd
Exempt Code Section501(C)(3)ExemptCodeSectionTxt
Public Charity StatusLINE 6PublicCharityStatusTxt
Direct Controlling NAN/ADirectControllingNACd
Controlled Organization0ControlledOrganizationInd

Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp

Related Organization Name RelatedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1INDIANA 21ST CENTURY FUND LPBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1ONE NORTH CAPITOL SUITE 700AddressLine1Txt
CityINDIANAPOLISCityNm
State AbbreviationINStateAbbreviationCd
ZIP46204ZIPCd
FieldValueIRS element (for citing)
EIN453126479EIN
Primary ActivitiesINVESTMENT FUNDPrimaryActivitiesTxt
Legal Domicile StateDELegalDomicileStateCd

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1ELEVATE ADVISORS LLCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Predominant Income TypeEXCLUDEDPredominantIncomeTypeTxt
Share Of EOY Assets$450ShareOfEOYAssetsAmt
Disproportionate Allocations0DisproportionateAllocationsInd
General Or Managing Partner0GeneralOrManagingPartnerInd
Ownership0.45000OwnershipPct
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of FacilitiesYes (1)SharingOfFacilitiesInd
Paid Employees SharingYes (1)PaidEmployeesSharingInd
Reimbursement Paid To Other OrgYes (1)ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgYes (1)ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

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