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      <PensionPlanContributions>
        <Total>33624</Total>
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      <OtherEmployeeBenefits>
        <Total>106808</Total>
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      <PayrollTaxes>
        <Total>119659</Total>
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      <FeesForServicesManagement>
        <Total>0</Total>
      </FeesForServicesManagement>
      <FeesForServicesLegal>
        <Total>0</Total>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>5500</Total>
      </FeesForServicesAccounting>
      <FeesForServicesLobbying>
        <Total>0</Total>
      </FeesForServicesLobbying>
      <FeesForServicesProfFundraising>
        <Total>0</Total>
      </FeesForServicesProfFundraising>
      <FeesForServicesInvstMgmntFees>
        <Total>0</Total>
      </FeesForServicesInvstMgmntFees>
      <FeesForServicesOther>
        <Total>734903</Total>
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      <Advertising>
        <Total>2629713</Total>
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      <OfficeExpenses>
        <Total>166932</Total>
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      <InformationTechnology>
        <Total>0</Total>
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      <Royalties>
        <Total>0</Total>
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      <Occupancy>
        <Total>157634</Total>
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      <Travel>
        <Total>189368</Total>
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      <TravelEntrtnmntPublicOfficials>
        <Total>0</Total>
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      <ConferencesMeetings>
        <Total>49746</Total>
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      <Interest>
        <Total>0</Total>
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      <PaymentsToAffiliates>
        <Total>0</Total>
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      <Insurance>
        <Total>0</Total>
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        <Description>DUES &amp; SUBSCRIPTIONS</Description>
        <Total>30022</Total>
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      <OtherExpenses>
        <Description>OTHER EXPENSES</Description>
        <Total>26510</Total>
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      <AllOtherExpenses>
        <Total>0</Total>
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      <TotalFunctionalExpenses>
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        <EOY>0</EOY>
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        <EOY>6307813</EOY>
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      <FollowSFAS117>X</FollowSFAS117>
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      <AccountantCompileOrReview>true</AccountantCompileOrReview>
      <FSAudited>false</FSAudited>
      <AuditCommittee>true</AuditCommittee>
      <FinancialStatementSeparate>X</FinancialStatementSeparate>
      <FederalGrantAuditRequired>false</FederalGrantAuditRequired>
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        <Identifier>FIN 48 (ASC 740) footnote</Identifier>
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        <Explanation>DEVELOP INDY IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE (CODE) AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. DEVELOP INDY HAS ADOPTED ACCOUNTING GUIDANCE RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. DEVELOP INDY HAS EXAMINED THIS ISSUE AND HAS DETERMINED THAT THERE ARE NO MATERIAL CONTINGENT TAX LIABILITIES OR QUESTIONABLE TAX POSITIONS. DEVELOP INDY IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR YEARS BEFORE 2008. DEVELOP INDY DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. DEVELOP INDY RECOGNIZES INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. DEVELOP INDY DID NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES AT DECEMBER 31, 2011 AND 2010.</Explanation>
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        <TypeOfActivitiesConducted>PROGRAM SERVICES</TypeOfActivitiesConducted>
        <SpecificServicesProvided>MARKETING INDIANAPOLIS, IN TO FOREIGN COMPANIES</SpecificServicesProvided>
        <TotalExpenditures>71804</TotalExpenditures>
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      <AcctsActvsOutUSTable>
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        <SpecificServicesProvided>MARKETING INDIANAPOLIS, IN TO FOREIGN COMPANIES</SpecificServicesProvided>
        <TotalExpenditures>6862</TotalExpenditures>
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      <AcctsActvsOutUSTable>
        <Region>SOUTH AMERICA</Region>
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        <NumberOfEmployees>0</NumberOfEmployees>
        <TypeOfActivitiesConducted>PROGRAM SERVICES</TypeOfActivitiesConducted>
        <SpecificServicesProvided>MARKETING INDIANAPOLIS TO FOREIGN COMPANIES</SpecificServicesProvided>
        <TotalExpenditures>10132</TotalExpenditures>
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      <TotalNumberOfOffices>0</TotalNumberOfOffices>
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      <TotalAmountSpent>88798</TotalAmountSpent>
      <TransferToForeignCorp>false</TransferToForeignCorp>
      <InterestInForeignTrust>false</InterestInForeignTrust>
      <OwnForeignCorp>false</OwnForeignCorp>
      <PassiveForeignInvestCo>false</PassiveForeignInvestCo>
      <ForeignPartnership>false</ForeignPartnership>
      <BoycottCountries>false</BoycottCountries>
      <Form990ScheduleFPartV>
        <Identifier>Method used to account for expenditures on organization's financial statements</Identifier>
        <ReturnReference>Schedule F, Part I, Line 3</ReturnReference>
        <Explanation>EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL SOUTH AMERICA: ACCRUAL</Explanation>
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      <RecipientTable>
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          <BusinessNameLine1>ADVION BIOSERVICE INC</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>1900 BROWN RD</AddressLine1>
          <City>ITHACA</City>
          <State>NY</State>
          <ZIPCode>14850</ZIPCode>
        </AddressUS>
        <EINOfRecipient>161431018</EINOfRecipient>
        <AmountOfCashGrant>50000</AmountOfCashGrant>
        <PurposeOfGrant>TRAINING GRANT</PurposeOfGrant>
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      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>ASCENSION HEALTH</BusinessNameLine1>
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        <AddressUS>
          <AddressLine1>4040 VINCENNES CIRCLE</AddressLine1>
          <City>INDIANAPOLIS</City>
          <State>IN</State>
          <ZIPCode>46268</ZIPCode>
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        <EINOfRecipient>311662309</EINOfRecipient>
        <IRCSection>501(C)(3)</IRCSection>
        <AmountOfCashGrant>22000</AmountOfCashGrant>
        <PurposeOfGrant>TRAINING GRANT</PurposeOfGrant>
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      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>KRONOS</BusinessNameLine1>
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        <AddressUS>
          <AddressLine1>297 BILLERICA RD</AddressLine1>
          <City>CHELMSFORD</City>
          <State>MA</State>
          <ZIPCode>01824</ZIPCode>
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        <EINOfRecipient>042640942</EINOfRecipient>
        <AmountOfCashGrant>250000</AmountOfCashGrant>
        <PurposeOfGrant>TRAINING GRANT</PurposeOfGrant>
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          <BusinessNameLine1>THE BIG PICTURE INC DBA INDY'S KITCHEN</BusinessNameLine1>
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        <AddressUS>
          <AddressLine1>2442 CENTRAL AVE</AddressLine1>
          <City>INDIANAPOLIS</City>
          <State>IN</State>
          <ZIPCode>46205</ZIPCode>
        </AddressUS>
        <EINOfRecipient>270342903</EINOfRecipient>
        <AmountOfCashGrant>17000</AmountOfCashGrant>
        <PurposeOfGrant>ECONOMIC DEVELOPMENT</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
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          <BusinessNameLine1>THE STARTUP ACCELERATOR INC DBA THE SPEAKEASY</BusinessNameLine1>
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        <AddressUS>
          <AddressLine1>5255 WINTHROP AVE</AddressLine1>
          <City>INDIANAPOLIS</City>
          <State>IN</State>
          <ZIPCode>46220</ZIPCode>
        </AddressUS>
        <EINOfRecipient>275088434</EINOfRecipient>
        <IRCSection>501(C)(7)</IRCSection>
        <AmountOfCashGrant>100000</AmountOfCashGrant>
        <PurposeOfGrant>ECONOMIC DEVELOPMENT</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>SUMMIT REALTY GROUP OF INDIANA INC</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>241 NORTH PENNSYLVANIA ST</AddressLine1>
          <City>INDIANAPOLIS</City>
          <State>IN</State>
          <ZIPCode>46204</ZIPCode>
        </AddressUS>
        <EINOfRecipient>351875585</EINOfRecipient>
        <AmountOfCashGrant>125000</AmountOfCashGrant>
        <PurposeOfGrant>ECONOMIC DEVELOPMENT</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>UNITED STATES INFRASTRUCTURE CORP</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>9045 RIVER RD</AddressLine1>
          <City>INDIANAPOLIS</City>
          <State>IN</State>
          <ZIPCode>46240</ZIPCode>
        </AddressUS>
        <EINOfRecipient>262212803</EINOfRecipient>
        <AmountOfCashGrant>65000</AmountOfCashGrant>
        <PurposeOfGrant>ECONOMIC DEVELOPMENT</PurposeOfGrant>
      </RecipientTable>
      <TotalNbrOf501C3AndGovtGrants>1</TotalNbrOf501C3AndGovtGrants>
      <TotalNbrOfOtherOrganizations>6</TotalNbrOfOtherOrganizations>
      <Form990ScheduleIPartIV>
        <Identifier>Procedures for monitoring use of grant funds</Identifier>
        <ReturnReference>Schedule I, Part I, Line 2</ReturnReference>
        <Explanation>FUNDS ARE MONITORIED BY THE ORGANIZATION TO ENSURE THEY ARE USED FOR THE PURPOSES FOR WHICH THEY ARE DISBURSED.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
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      <SupplementalNonqualRetirePlan>false</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>false</EquityBasedCompArrangement>
      <Form990ScheduleJPartII>
        <NamePerson>MELISSA TODD</NamePerson>
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      <Form990ScheduleJPartII>
        <NamePerson>SCOTT MILLER</NamePerson>
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        <BonusFilingOrg>43000</BonusFilingOrg>
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        <OtherCompensationFilingOrg>798</OtherCompensationFilingOrg>
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        <NamePerson>KENNETH FULFORD</NamePerson>
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      <Form990ScheduleJPartII>
        <NamePerson>NANCY LANGDON</NamePerson>
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      <Form990ScheduleJPartII>
        <NamePerson>MICHAEL YOUNG</NamePerson>
        <BaseCompensationFilingOrg>99327</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>5000</BonusFilingOrg>
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        <Identifier>COMPENSATION OF TOP MANAGEMENT OFFICIAL</Identifier>
        <ReturnReference>PART I, LINE 3</ReturnReference>
        <Explanation>THE COMPENSATION OF THE PRESIDENT &amp; CEO OF THE ORGANIZATION WAS PAID BY HUMAN CAPITAL CONCEPTS, LLC, A PROFESIONAL EMPLOYER ORGANIZATION, WHICH IS AN UNRELATED ORGANIZATIONS. THE COMPENSATION WAS REIMBURSED TO THIS ORGANIZATION BY DEVELOP INDY, INC. THE BOARD OF DIRECTORS OF DEVELOP INDY, INC. DETERMINES THE COMPENSATION OF THE PRESIDENT &amp; CEO USING THE FOLLOWING: -FORMS 990 OF OTHER ORGANIZATIONS -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE</Explanation>
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        <ReturnReference>Compensation from an unrelated organization or individual</ReturnReference>
        <Explanation>NAME - MELISSA TODD, COMPENSATION FROM UNRELATED ORGANIZATION - 166,084, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - SALARY;NAME - SCOTT MILLER, COMPENSATION FROM UNRELATED ORGANIZATION - 220,826, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - SALARY;NAME - KENNETH FULFORD, COMPENSATION FROM UNRELATED ORGANIZATION - 111,300, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - SALARY;NAME - NANCY LANGDON, COMPENSATION FROM UNRELATED ORGANIZATION - 123,929, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - SALARY;NAME - MICHAEL YOUNG, COMPENSATION FROM UNRELATED ORGANIZATION - 109,100, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - SALARY;</Explanation>
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        <Identifier>ORGANIZATION'S MISSION</Identifier>
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        <Explanation>(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.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>PROGRAM SERVICE DESCRIPTION</Identifier>
        <ReturnReference>FORM 990, PART III, LINE 4A</ReturnReference>
        <Explanation>(CONTINUED FROM PART III) 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 65% OF THE 2011 NEW JOB COMMITMENTS. THE GREATEST NUMBER OF NEW JOB COMMITMENTS CAME FROM THE INFORMATION TECHNOLOGY INDUSTRY WITH 1,007, FOLLOWED BY ADVANCED MANUFACTURING WITH 953, AND THE LOGISTICS INDUSTRY WITH 747. THE AVERAGE WAGE FOR NEW JOB COMMITMENTS WAS $23.62 PER HOUR, AS COMPARED TO $23.81 IN 2010. DEVELOP INDY ALSO SECURED COMMITMENTS FROM INDIANAPOLIS-BASED COMPANIES TO RETAIN 7,068 JOBS WITH AN AVERAGE WAGE OF $28.46 PER HOUR, AS COMPARED TO $22.59 IN 2010. THE GREATEST NUMBER OF RETAINED JOBS WAS IN THE ADVANCED MANUFACTURING INDUSTRY WITH 4,113 JOBS. THE SECOND AND THIRD HIGHEST NUMBERS OF RETAINED JOBS WERE IN LOGISTICS WITH 1,406, AND INFORMATION TECHNOLOGY WITH 594.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Significant changes to organizational documents</Identifier>
        <ReturnReference>Form 990, Part VI, Section A, Line 4</ReturnReference>
        <Explanation>SECTION 2.2 NUMBER, TERM AND APPOINTMENT. THE BOARD OF DIRECTORS SHALL CONSIST OF NO FEWER THAN FIFTEEN (15) AND NO MORE THAN TWENTY (20) DIRECTORS. THE BOARD OF DIRECTORS SHALL SPECIFY FROM TIME TO TIME BY RESOLUTION THE NUMBER OF DIRECTORS WITHIN THAT RANGE. THE DIRECTORS SHALL BE APPOINTED AS FOLLOWS: (A) THE MAYOR OF THE CITY OF INDIANAPOLIS (THE "MAYOR") SHALL APPOINT ALL MEMBERS OF THE BOARD OF DIRECTORS, OTHER THAN THE EX OFFICIO DIRECTORS APPOINTED PURSUANT TO SUBSECTION (B) BELOW. THE TERM OF SERVICE FOR EACH DIRECTOR APPOINTED BY THE MAYOR SHALL BE DETERMINED BY THE MAYOR. (B) INDIVIDUALS HOLDING THE FOLLOWING OFFICES SHALL BE EX OFFICIO MEMBERS OF THE BOARD OF DIRECTORS WITH FULL VOTING POWER AND AUTHORITY: (I) CHIEF EXECUTIVE OFFICER, DEVELOP INDY, INC. (F/K/A INDIANAPOLIS ECONOMIC DEVELOPMENT, INC.); (II) DEPUTY MAYOR FOR ECONOMIC AND WORKFORCE DEVELOPMENT, CITY OF INDIANAPOLIS; (III) CHIEF EXECUTIVE OFFICER, INDIANAPOLIS PRIVATE INDUSTRY COUNCIL, INC. (D/B/A EMPLOYINDY); (IV) EXECUTIVE DIRECTOR, INDY PARTNERSHIP; AND (V) CHAIRMAN OF THE INDY PARTNERSHIP EXECUTIVE COMMITTEE. DESPITE THE EXPIRATION OF A DIRECTOR'S TERM, THE DIRECTOR CONTINUES TO SERVE UNTIL A SUCCESSOR IS APPOINTED AND QUALIFIED, OR UNTIL THERE IS A DECREASE IN THE NUMBER OF DIRECTORS. SECTION 2.3 VACANCIES. ANY VACANCY AMONG THE DIRECTORS (OTHER THAN EX OFFICIO DIRECTORS) CAUSED BY DEATH, RESIGNATION, REMOVAL, INCREASE IN THE NUMBER OF DIRECTORS OR OTHERWISE SHALL BE FILLED BY THE MAYOR. UNLESS OTHERWISE DETERMINED BY THE MAYOR, THE TERM OF OFFICE OF A DIRECTOR CHOSEN TO FILL A VACANCY SHALL EXPIRE AT THE LATER OF THE NEXT ANNUAL MEETING OF THE DIRECTORS, OR AT SUCH TIME AS A SUCCESSOR SHALL BE DULY APPOINTED AND QUALIFIED. SECTION 2.4 REMOVAL. ANY DIRECTOR (OTHER THAN AN EX OFFICIO DIRECTOR) MAY BE REMOVED, WITH OR WITHOUT CAUSE AT ANY TIME, BY THE MAYOR. EX OFFICIO DIRECTORS WILL SERVE IN SUCH CAPACITY FOR SO LONG AS THEY HOLD THE OFFICE REFERENCED IN SECTION 2.2(B) ABOVE. SECTION 4.3 CHIEF EXECUTIVE OFFICER. THE CHIEF EXECUTIVE OFFICER SHALL BE THE CHIEF EXECUTIVE AND PRINCIPAL POLICY MAKING OFFICER OF THE CORPORATION. SUBJECT TO THE AUTHORITY OF THE BOARD OF DIRECTORS AND TO CONSULTATION WITH THE CHAIRMAN, THE CHIEF EXECUTIVE OFFICER SHALL FORMULATE THE MAJOR POLICIES TO BE PURSUED IN THE ADMINISTRATION OF THE CORPORATION'S AFFAIRS AND SHALL SEE THAT THE ESTABLISHED POLICIES ARE PLACED INTO EFFECT AND CARRIED OUT UNDER THE DIRECTION OF THE APPROPRIATE EMPLOYEES AND AGENTS OF THE CORPORATION. IN ADDITION, HE OR SHE SHALL HAVE SUCH USUAL POWERS OF SUPERVISION AND MANAGEMENT AS MAY PERTAIN TO THE OFFICE OF THE CHIEF EXECUTIVE OFFICER AND SHALL PERFORM SUCH OTHER DUTIES AS MAY, FROM TIME TO TIME, BE PRESCRIBED BY THE BOARD OF DIRECTORS. ARTICLE VII AMENDMENTS SUBJECT TO LAW AND THE ARTICLES OF INCORPORATION, THE POWER TO MAKE, ALTER, AMEND OR REPEAL ALL OR ANY PART OF THESE BYLAWS IS VESTED IN THE BOARD OF DIRECTORS PURSUANT TO A VOTE OF THE MAJORITY OF THE THEN CURRENT BOARD OF DIRECTORS, PROVIDED THAT THE NUMBER OF DIRECTORS AND THE METHOD TO APPOINT OR REMOVE A DIRECTOR SHALL NOT BE AMENDED WITHOUT THE WRITTEN CONSENT OF THE MAYOR. THE CORPORATION MUST PROVIDE AT LEAST FORTY EIGHT (48) HOURS' NOTICE TO THE DIRECTORS OF ANY MEETING AT WHICH AN AMENDMENT TO THE BYLAWS IS TO BE CONSIDERED AND VOTED UPON, WHICH NOTICE SHALL SET FORTH A SUMMARY OF THE PROPOSED AMENDMENT.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Classes of members or stockholders</Identifier>
        <ReturnReference>Form 990, Part VI, Section A, Line 6</ReturnReference>
        <Explanation>THE SOLE MEMBER IS THE MAYOR OF INDIANAPOLIS. NINE BOARD MEMBERS ARE APPOINTED BY THE MAYOR OF THE CITY OF INDIANAPOLIS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Members or stockholders electing members of governing body</Identifier>
        <ReturnReference>Form 990, Part VI, Section A, Line 7a</ReturnReference>
        <Explanation>ALL BOARD MEMBERS ARE APPOINTED BY THE MAYOR OF THE CITY OF INDIANAPOLIS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Review of form 990 by governing body</Identifier>
        <ReturnReference>Form 990, Part VI, Section B, Line 11b</ReturnReference>
        <Explanation>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.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Conflict of interest policy</Identifier>
        <ReturnReference>Form 990, Part VI, Section B, Line 12c</ReturnReference>
        <Explanation>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.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Process used to establish compensation of top management official</Identifier>
        <ReturnReference>Form 990, Part VI, Section B, Line 15a</ReturnReference>
        <Explanation>THE BOARD OF DIRECTORS ESTABLISHED A COMPENSATION COMMITTEE TO ESTABLISH THE COMPENSATION OF DEVELOP INDY'S CEO. THE ORGANIZATION USES FORM 990'S OF OTHER ORGANIZATIONS TO ENSURE THAT COMPENSATION IS REASONABLE. THIS PROCESS IS DOCUMENTED IN THE COMMITTEE MINUTES. THIS PROCESS WAS CONDUCTED ON MARCH 30, 2011.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>PROCESS FOR DETERMINING COMPENSATION OF OTHER OFFICERS</Identifier>
        <ReturnReference>FORM 990, PART VI, LINE 15B</ReturnReference>
        <Explanation>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.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Governing documents, conflict of interest policy and financial statements available to the public</Identifier>
        <ReturnReference>Form 990, Part VI, Section C, Line 19</ReturnReference>
        <Explanation>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.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VII, Section A, Line 5</Identifier>
        <ReturnReference>Compensation from an unrelated organization or individual</ReturnReference>
        <Explanation>NAME - MELISSA TODD, COMPENSATION FROM UNRELATED ORGANIZATION - 166,084, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - SALARY;NAME - SCOTT MILLER, COMPENSATION FROM UNRELATED ORGANIZATION - 220,826, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - SALARY;NAME - KENNETH FULFORD, COMPENSATION FROM UNRELATED ORGANIZATION - 111,300, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - SALARY;NAME - NANCY LANGDON, COMPENSATION FROM UNRELATED ORGANIZATION - 123,929, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - SALARY;NAME - MICHAEL YOUNG, COMPENSATION FROM UNRELATED ORGANIZATION - 109,100, NAME OF UNRELATED ORGANIZATION - HUMAN CAPITAL CONCEPTS, TYPE OF COMPENSATION - SALARY;</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>