2013-10-07T12:00:05-05:00 2012-12-31 CROWE HORWATH LLP 3815 River Crossing Parkway Suite 300 Indianapolis IN 462400977 990 2012-01-01 261274009 DEVELOP INDY INC DEVE 3172371415 111 Monument Circle Indianapolis IN 46204 MELISSA TODD 2013-10-04 true Nicole Bencik P00756195 3175698989 2012 2016-02-24 21:20:13Z X MELISSA TODD 111 Monument Circle Ste 1950 Indianapolis IN 46204 4396804 false X WWW.DEVELOPINDY.COM X 2007 IN DEVELOP INDY IS MARION COUNTY'S LOCAL ECONOMIC DEVELOPMENT ORGANIZATION DEDICATED TO PROVIDING BUSINESS ATTRACTION, EXISTING BUSINESS RETENTION, EXPANSION AND LOCATION SERVICES TO INDIANAPOLIS/MARION COUNTY. X 18 17 20 17 0 0 1314000 49983 5132864 4346455 36908 366 19384 0 6503156 4396804 629000 1985022 0 0 1781685 863031 0 0 0 4004157 1295432 6414842 4143485 88314 253319 7704048 235730 6307813 0 1396235 235730 X DEVELOP INDY IS MARION COUNTY'S LOCAL ECONOMIC DEVELOPMENT ORGANIZATION DEDICATED TO PROVIDING BUSINESS ATTRACTION, EXISTING BUSINESS RETENTION, EXPANSION AND LOCATION SERVICES TO INDIANAPOLIS/MARION COUNTY. (CONTINUED IN SCHEDULE O) false true IN 2012, WITH THE ASSISTANCE FROM DEVELOP INDY, THE CITY OF INDIANAPOLIS SECURED 11,368 TOTAL JOB COMMITMENTS (3,328 NEW JOBS AND 8,040 RETAINED JOBS) AND OVER $599 MILLION IN PRIVATE INVESTMENT FROM 57 COMPANIES. ALTHOUGH COMPANIES FROM ALL DIFFERENT INDUSTRIES WERE REPRESENTED IN THE LIST OF SUCCESSFUL PROJECTS, THE CITY REMAINS FOCUSED ON SEVERAL TARGETED INDUSTRY CLUSTERS. THESE INCLUDE LIFE SCIENCES, ADVANCED MANUFACTURING, INFORMATION TECHNOLOGY, ALTERNATIVE ENERGY AND LOGISTICS. COMPANIES IN THESE INDUSTRIES ACCOUNTED FOR MORE THAN 75% OF THE 2012 NEW JOB COMMITMENTS. THE GREATEST NUMBER OF NEW JOB COMMITMENTS CAME FROM THE INFORMATION TECHNOLOGY INDUSTRY WITH 1,240, FOLLOWED BY LIFE SCIENCES WITH 629, AND ADVANCED MANUFACTURING WITH 406. THE AVERAGE WAGE FOR NEW JOB COMMITMENTS WAS $25.12 PER HOUR, AS COMPARED WITH $23.62 PER HOUR IN 2011. (CONTINUED ON SCHEDULE O) false true false false false false false false false false false false false false false true false true false false true false false false false false false true false true false false false false false false false false false true false false false false false true 0 0 20 true false false false false true true false X 18 17 false false false false false true false true true false false true true true true true false false false false IN X Melissa Todd 3174642259 111 Monument Circle Ste 1950 Indianapolis IN 46204 X CAREY LYKINS 1.00 X X 0 0 0 TREVOR BELDEN 1.00 X X 0 0 0 AL SMITH 1.00 X 0 0 0 BROOKE HUNTINGTON 1.00 X 0 0 0 GLEN KWOK 1.00 X 0 0 0 JOHN ANDREWS 0.00 X 0 0 0 KEVIN SPEER 1.00 X 0 0 0 KYLE FISHER 1.00 X 0 0 0 MARIE-CHRISTINE PENCE 1.00 X 0 0 0 MELISSA PROFFITT REESE 1.00 X 0 0 0 MICHAEL HUBER 1.00 X 0 0 0 MICHAEL WILLIAMS 1.00 X 0 0 0 MOIRA CARLSTEDT 1.00 X 0 0 0 ROBERT SMITH 1.00 X 0 0 0 ROBERT W HILLMAN 1.00 X 0 0 0 STEVE SULLIVAN 1.00 X 0 0 0 TROY WHITTINGTON 1.00 X 46042 0 1698 WAYNE BURRIS 1.00 X 0 0 0 WILLIAM MARSAN 1.00 X 0 0 0 MELISSA TODD 50.00 X 89583 0 8604 135625 0 10302 0 false false true 0 49983 49983 ECONOMIC DEVELOPMENT CONTRACTS 900099 1525979 1525979 DEAL CLOSING INCOME 900099 1985022 1985022 CERTIFIED TECH PARK DEVELOPMENT INCOME 900099 742882 742882 MEMBERSHIP DUES 900099 92572 92572 0 0 0 0 0 4346455 366 366 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4396804 4346455 0 366 1985022 766033 85585 11413 825658 265554 35826 19736 77034 57342 5099 7678 REPAIRS AND MAINTENANCE 38 PROPERTY TAXES 1467 0 4143485 0 0 0 719404 6906901 235730 42340 0 0 16268 0 0 19135 0 0 0 0 0 0 0 7704048 235730 2500 1780503 4524810 0 0 0 6307813 0 X 1396235 235730 1396235 235730 7704048 235730 X 253319 -1413824 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 X FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 DEVELOP INDY IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE (CHAMBER); BELOW IS THE TEXT OF THE FIN 48 FOOTNOTE INCLUDED IN THE CHAMBER'S CONSOLIDATED FINANCIAL STATEMENTS. THE CHAMBER GENERALLY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE, BUT IS SUBJECT TO INCOME TAXES ON CERTAIN TYPES OF INCOME. UNDER THIS CODE SECTION, INCOME OF THE CHAMBER IS EXEMPT UNLESS THE BUSINESS ACTIVITY IS UNRELATED TO THE CHARITABLE PURPOSE OF THE CHAMBER. ANY TAXABLE INCOME IS TAXED AT SPECIFIED RATES. THE CHAMBER IS PARTIALLY EXEMPT FROM INDIANA INCOME TAXES. DURING 2012, THE CHAMBER RECORDED INCOME TAX EXPENSE OF $97,883. THE FOUNDATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. LOBBYING EXPENDITURES ARE NOT DEDUCTIBLE FOR FEDERAL INCOME TAX PURPOSES. MEMBERSHIP ORGANIZATIONS HAVE THE OPTION OF DISCLOSING TO MEMBERS THE PORTION OF THEIR DUES THAT ARE NON-DEDUCTIBLE AS A RESULT OF THE ORGANIZATION'S LOBBYING EXPENDITURES, OR PAYING A PROXY TAX ON THE LOBBYING EXPENDITURES. THE CHAMBER DISCLOSES TO MEMBERS THE PORTION OF NONDEDUCTIBLE DUES AND AS SUCH THE CHAMBER IS NOT SUBJECT TO THE PROXY TAX. THE CHAMBER IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR YEARS BEFORE 2009. THE CHAMBER DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. THE CHAMBER RECOGNIZES INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE CHAMBER DID NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES AT DECEMBER 31, 2012. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES MARKETING INDIANAPOLIS, IN TO FOREIGN COMPANIES 21440 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES MARKETING INDIANAPOLIS, IN TO FOREIGN COMPANIES 24023 0 0 45463 false false false false false false Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL true HENRY AMALGAMATED LLC 5240 WINTHROP AVE INDIANAPOLIS IN 46220 201051216 1856705 ECONOMIC DEVELOPMENT ANGIE'S LIST INC 1030 E WASHINGTON ST INDIANAPOLIS IN 46202 272440197 127433 ECONOMIC DEVELOPMENT 0 2 Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 FUNDS ARE MONITORED BY THE ORGANIZATION TO ENSURE THEY ARE USED FOR THE PURPOSES FOR WHICH THEY ARE DISBURSED, WHICH IS SPECIFIED IN THE GRANT CONTRACT SIGNED BY THE RECIPIENTS. false false false TROY WHITTINGTON 46042 0 0 0 0 0 0 0 1698 0 47740 0 0 0 MELISSA TODD 74583 0 15000 0 0 0 2983 0 5621 0 98187 0 0 0 Schedule J, Part II Compensation from an unrelated organization or individual NAME - TROY WHITTINGTON, COMPENSATION FROM UNRELATED ORGANIZATION - 47,740, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - EMPLOYEE COMPENSATION;NAME - MELISSA TODD, COMPENSATION FROM UNRELATED ORGANIZATION - 98,187, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - EMPLOYEE COMPENSATION; Schedule J, Part II Compensation from an unrelated organization or individual NAME - TROY WHITTINGTON, COMPENSATION FROM UNRELATED ORGANIZATION - 47,740, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - EMPLOYEE COMPENSATION;NAME - MELISSA TODD, COMPENSATION FROM UNRELATED ORGANIZATION - 98,187, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - EMPLOYEE COMPENSATION; NET ASSET TRANSFER - SEE PART III 2012-07-16 1465317 NET BOOK VALUE 350412920 GREATER INDIANAPOLIS CHAMBER OF COMMERCE 111 MONUMENT CIRCLE SUITE 1950 INDIANAPOLIS IN 46204 501(C)(6) true true false false Interested person who became a director or trustee of transferee organization Schedule N, Part II, Line 2a THE FOLLOWING DIRECTORS OF DEVELOP INDY BECAME DIRECTORS OF THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE: CAREY LYKINS ROBERT H. HILLMAN MELISSA PROFFITT REESE AL SMITH Interested person who became an employee or independent contractor of transferee organization Schedule N, Part II, Line 2b THE FOLLOWING DIRECTORS/OFFICERS OF DEVELOP INDY BECAME EMPLOYEES OF THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE: TROY WHITTINGTON MELISSA TODD DESCRIPTION OF ASSETS DISTRIBUTED SCHEDULE N, PART II, LINE 1, COLUMN (A) IN JULY 2012, THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE (CHAMBER) ACQUIRED ALL OPERATING ACTIVITIES OF DEVELOP INDY. THIS ACQUISITION WAS AGREED TO BY DEVELOP INDY IN A PURCHASE AGREEMENT DATED JULY 16, 2012. THE CHAMBER ACQUIRED DEVELOP INDY IN AN EFFORT TO CREATE SYNERGIES BETWEEN THE TWO ENTITIES FOR THE CONTINUED ECONOMIC DEVELOPMENT OF THE CITY OF INDIANAPOLIS. AT DECEMBER 31, 2012, ASSETS OF THE ORIGINAL DEVELOP INDY ENTITY TOTALING $235,730 REMAINED IN A SEPARATE BANK ACCOUNT, UNDER THE FEDERAL IDENTIFICATION NUMBER OF THE ORIGINAL DEVELOP INDY, WHICH IS STILL IN EXISTENCE AND UNDER THE CONTROL OF THE CHAMBER. THESE FUNDS WILL BE USED TO COVER THE REMAINING OPERATING LEASE PAYMENTS WHICH WERE COMMITTED TO BY THE ORIGINAL DEVELOP INDY ENTITY PRIOR TO THE CHAMBER'S ACQUISITION. THE REMAINDER OF THE DEVELOP INDY ASSETS AND LIABILITIES WERE TRANSFERRED TO THE CONTROL OF THE CHAMBER. THE NET AMOUNT OF THIS ACQUISITION TOTALED $1,465,317. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 (CONTINUED FROM PART III, LINE 1) THE PURPOSES FOR WHICH THE CORPORATION IS FORMED ARE: -TO PROMOTE THE COMMON INTERESTS OF BUSINESSES AND TO IMPROVE GENERAL BUSINESS CONDITIONS IN MARION COUNTY BY PROMOTING, ENCOURAGING AND AIDING THE FORMATION, OPERATION, AND EXPANSION OF INDUSTRIAL, COMMERCIAL, OFFICE, RESIDENTIAL, MANUFACTURING, TRANSPORTATION AND LOGISTICS, LIFE SCIENCES, FINANCIAL, INSURANCE, SERVICE, SOFTWARE AND COMPUTING, HOSPITALITY, ENERGY, PROFESSIONAL AND OTHER BUSINESSES IN MARION COUNTY, AND TO DEVELOP AND ADMINISTER PROGRAMS TO ENCOURAGE EMPLOYERS TO LOCATE AND REMAIN IN MARION COUNTY; AND -IN FURTHERANCE OF THE AFORESAID PURPOSES, TO TRANSACT ANY AND ALL LAWFUL BUSINESS FOR WHICH CORPORATIONS MAY BE INCORPORATED UNDER THE ACT, PROVIDED SUCH BUSINESS IS NOT INCONSISTENT WITH THE CORPORATION BEING ORGANIZED AND OPERATED EXCLUSIVELY AS A BUSINESS LEAGUE. Significant changes in program services Form 990, Part III, Line 3 IN JULY 2012, THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE (CHAMBER) ACQUIRED ALL OPERATING ACTIVITIES OF DEVELOP INDY AND THE CHAMBER BOARD ASSUMED CONTROL OF THE ORGANIZATION. THE ACQUISITION WAS AGREED TO BY DEVELOP INDY IN A PURCHASE AGREEMENT DATED JULY 16, 2012. THE CHAMBER ACQUIRED DEVELOP INDY IN AN EFFORT TO CREATE SYNERGIES BETWEEN THE TWO ENTITIES FOR THE CONTINUED ECONOMIC DEVELOPMENT OF THE CITY OF INDIANAPOLIS. PROGRAM SERVICE DESCRIPTION FORM 990, PART III, LINE 4A (CONTINUED FROM PART III, LINE 4A) DEVELOP INDY ALSO SECURED COMMITMENTS FROM INDIANAPOLIS-BASED COMPANIES TO RETAIN 8,040 JOBS WITH AN AVERAGE WAGE OF $22.54 PER HOUR, AS COMPARED TO $28.46 PER HOUR IN 2011. THE GREATEST NUMBER OF RETAINED JOBS WAS IN LIFE SCIENCE WITH 3,017 JOBS. THE SECOND AND THIRD HIGHEST NUMBERS OF RETAINED JOBS WERE IN IT WITH 1,300, FOLLOWED BY LOGISTICS WITH 978. IN ADDITION, IN JULY 2012, THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE ACQUIRED ALL OPERATING ACTIVITIES OF DEVELOP INDY IN AN EFFORT TO CREATE SYNERGIES BETWEEN THE TWO ENTITIES FOR THE CONTINUED ECONOMIC DEVELOPMENT OF THE CITY OF INDIANAPOLIS. Members or stockholders electing members of governing body Form 990, Part VI, Section A, Line 7a ALL BOARD MEMBERS ARE APPOINTED BY THE MAYOR OF THE CITY OF INDIANAPOLIS. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b THE FORM 990 IS REVIEWED IN DETAIL BY MANAGEMENT. IN ADDITION, A COPY OF THE FORM 990 IS PROVIDED TO EACH MEMBER OF THE BOARD BEFORE FILING WITH THE IRS. Conflict of interest policy Form 990, Part VI, Section B, Line 12c THE OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE REQUIRED TO ANNUALLY SIGN A CONFLICT OF INTEREST QUESTIONNAIRE. THE QUESTIONNAIRES ARE REVIEWED BY THE CHAIR OF THE BOARD. ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST ARE MONITORED BY THE CHAIR OF THE BOARD. IF ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST EXIST, THE BOARD MEMBER WITH THE CONFLICT IS REQUIRED TO ABSTAIN FROM VOTING ON MATTERS RELATED TO THE CONFLICT. PROCESS FOR DETERMINING COMPENSATION FOR TOP MANAGEMENT OFFICIALS FORM 990, PART VI, LINE 15A THE BOARD OF DIRECTORS ESTABLISHED A COMPENSATION COMMITTEE TO ESTABLISH THE COMPENSATION OF DEVELOP INDY'S TOP MANAGEMENT OFFICIAL. IN THE PAST, THE ORGANIZATION HAS USED FORMS 990 OF OTHER ORGANIZATIONS FOR COMPARABILITY TO ENSURE THE TOP MANAGEMENT OFFICIAL'S COMPENSATION IS REASONABLE. HOWEVER, IN 2012 THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL WAS PAID BY AN UNRELATED ORGANIZATION AND WAS ONLY SERVING IN THE TOP MANAGEMENT OFFICIAL POSITION IN THE INTERIM; THUS, COMPENSATION WAS NOT REVIEWED DURING THIS TIME. PROCESS FOR DETERMINING COMPENSATION OF OTHER OFFICERS FORM 990, PART VI, LINE 15B THERE ARE NO OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION THAT RECEIVE COMPENSATION. THEREFORE, THIS QUESTION WAS MARKED "NO" IN ACCORDANCE WITH THE IRS INSTRUCTIONS FOR THE FORM 990. Governing documents, conflict of interest policy and financial statements available to the public Form 990, Part VI, Section C, Line 19 FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICIES ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE (IRC) SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES FORM 990, PART VII, SECTION A, LINE 1A ON JULY 16, 2012, THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE (CHAMBER) ACQUIRED THE OPERATING ACTIVITIES OF DEVELOP INDY; AS A RESULT OF THIS MERGER, EMPLOYEES OF DEVELOP INDY BECAME EMPLOYEES OF THE CHAMBER. THEREFORE, COMPENSATION REPORTED IN PART VII IS PRO-RATED BASED ON THE PERIOD OF TIME IN WHICH INDIVIDUALS WERE CONSIDERED EMPLOYEES OF DEVELOP INDY. Form 990, Part VII, Section A, Line 5 Compensation from an unrelated organization or individual NAME - TROY WHITTINGTON, COMPENSATION FROM UNRELATED ORGANIZATION - 47,740, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - EMPLOYEE COMPENSATION;NAME - MELISSA TODD, COMPENSATION FROM UNRELATED ORGANIZATION - 98,187, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - EMPLOYEE COMPENSATION; Other Expenses Form 990, Part IX, Line 11g PROFESSIONAL/ CONSULTING FEES - TOTAL EXPENSE: 144974, PROGRAM SERVICE EXPENSE: , MANAGEMENT AND GENERAL EXPENSES: , FUNDRAISING EXPENSES: ; CONTRACT/LABOR FEES - TOTAL EXPENSE: 680684, PROGRAM SERVICE EXPENSE: , MANAGEMENT AND GENERAL EXPENSES: , FUNDRAISING EXPENSES: ; Other changes in net assets or fund balances Form 990 , Part XI, Line 9 NET ASSETS TRANSFER DUE TO MERGER - -1465317; FUND BALANCE AND OTHER ADJUSTMENTS DUE TO MERGER - 51493;