2011-11-10T16:00:47-06:00 2010-12-31 CROWE HORWATH LLP 3815 River Crossing Parkway Suite 300 Indianapolis IN 462400977 990 2010-01-01 261274009 DEVELOP INDY INC DEVE 3172371415 111 Monument Circle Indianapolis IN 46204 SCOTT MILLER 2011-11-10 true 3175698989 2010 2016-03-07 17:11:31Z SCOTT W MILLER 111 Monument Circle Ste 2450 Indianapolis IN 46204 2955367 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. 9 9 16 11 0 0 516990 384784 662513 2552600 1285 13238 0 4745 1180788 2955367 0 0 0 0 559647 590055 0 0 0 380492 2144835 940139 2734890 240649 220477 1199682 6804995 112238 5497074 1087444 1307921 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 IN 2010, THE ECONOMIC DEVELOPMENT ACTIVITY OF THE CITY OF INDIANAPOLIS SURPASSED PREVIOUS YEARS DESPITE THE LINGERING NATIONAL ECONOMIC DOWNTURN. WITH THE ASSISTANCE FROM DEVELOP INDY, THE CITY SECURED 15,861 JOB COMMITMENTS (8,702 NEW JOBS/7,159 RETAINED JOBS) AND $933 MILLION IN PRIVATE INVESTMENT FROM 72 COMPANIES, RESULTING IN THE BEST YEAR-END TOTALS OF THE DECADE. FIFTY-TWO OF THE 71 SUCCESSFUL PROJECTS WERE WITH EXISTING INDIANAPOLIS BUSINESSES, 19 WERE COMPANIES NEW TO THE CITY. (CONTINUED ON SCHEDULE O) false true false false false false false false false false true false false false false true false false false false true false false false false false false false false true false false false false false false false false false false false false false false false true 0 0 16 true false false false false true true false X 9 9 false false true false true true false true true false false true true true true true false true false false IN X Scott Miller 3178083230 111 Monument Circle Ste 2450 Indianapolis IN 46204 X ROBERT SMITH 1 X 0 0 0 ANN SHANE 1 X 0 0 0 GLEN KWOK 1 X 0 0 0 MOIRA CARLSTEDT 1 X 0 0 0 WAYNE BURRIS 1 X 0 0 0 TREVOR BELDEN 1 X X 0 0 0 SCOTT MILLER 50 X 178340 0 9991 CAREY LYKINS 1 X X 0 0 0 MARNI MCKINNEY 1 X 0 0 0 ROLAND SALMAN 1 X 0 0 0 178340 0 9991 1 false true true 0 147000 237784 384784 ECONOMIC DEVELOPMENT CONTRACTS 1720000 1720000 DEAL CLOSING INCOME 750000 750000 CERTIFIED TECH PARK DEVELOPMENT INCOME 82600 82600 0 0 0 0 2552600 13238 13238 0 0 0 0 0 0 0 0 0 0 0 OTHER INCOME 4745 4745 0 0 0 0 4745 2955367 2557345 0 13238 0 0 0 0 188331 0 325821 0 34339 41564 0 26958 1500 0 0 0 607934 924107 118972 23473 0 95981 238873 0 48687 0 0 7830 0 DUES & SUBSCRIPTIONS 36854 13666 2734890 0 0 0 1056021 701601 5996087 134300 61299 13044 47480 14516 9361 32964 0 0 0 0 0 0 0 1199682 6804995 112238 229674 5267400 0 0 112238 5497074 X 1087444 1307921 1087444 1307921 1199682 6804995 220477 0 X true false true X false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 47480 14516 32964 0 32964 0 0 FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 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 2007. 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, 2010 AND 2009. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES MARKETING INDIANAPOLIS, IN TO FOREIGN COMPANIES 54000 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES MARKETING INDIANAPOLIS, IN TO FOREIGN COMPANIES 6000 0 0 60000 false false false false false false X X X false false false SCOTT MILLER 163340 0 15000 0 0 0 8058 0 1933 0 188331 0 0 0 COMPENSATION OF TOP MANAGEMENT OFFICIAL SCHEDULE J, PART I, LINE 3 THE COMPENSATION OF THE PRESIDENT & CEO OF THE ORGANIZATION WAS PAID PART OF THE YEAR BY GREATER INDIANAPOLIS CHAMBER OF COMMERCE AND PART OF THE YEAR BY HUMAN CAPITAL CONCEPTS, LLC, A PROFESIONAL EMPLOYER ORGANIZATION, BOTH OF WHICH ARE UNRELATED ORGANIZATIONS. THE COMPENSATION WAS REIMBURSED TO THOSE ORGANIZATIONS BY DEVELOP INDY, INC. THE BOARD OF DIRECTORS OF DEVELOP INDY, INC. DETERMINES THE COMPENSATION OF THE PRESIDENT & CEO USING THE FOLLOWING: -FORMS 990 OF OTHER ORGANIZATIONS -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE 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. PROGRAM SERVICE DESCRIPTION FORM 990, PART III, LINE 4A (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, MOTORSPORTS, LOGISTICS, AND CLEAN TECH. COMPANIES IN THESE INDUSTRIES ACCOUNTED FOR MORE THAN 80% OF THE 2010 NEW JOB COMMITMENTS. THE GREATEST NUMBER OF NEW JOB COMMITMENTS CAME FROM THE LIFE SCIENCES INDUSTRY WITH 3,761, FOLLOWED BY INFORMATION TECHNOLOGY WITH 1,466, AND THE LOGISTICS INDUSTRY WITH 1,323. THE AVERAGE WAGE FOR NEW JOB COMMITMENTS WAS $23.81 PER HOUR, AS COMPARED TO $21.48 IN 2009. DEVELOP INDY ALSO SECURED COMMITMENTS FROM INDIANAPOLIS-BASED COMPANIES TO RETAIN 7,159 JOBS WITH AN AVERAGE WAGE OF $22.59 PER HOUR, AS COMPARED TO $21.83 IN 2009. THE GREATEST NUMBER OF RETAINED JOBS WAS IN THE LIFE SCIENCES INDUSTRY WITH 3,391 JOBS. THE SECOND AND THIRD HIGHEST NUMBERS OF RETAINED JOBS WERE IN ADVANCED MANUFACTURING WITH 1,168, AND LOGISTICS WITH 1,043. Significant changes to organizational documents Form 990, Part VI, Section A, Line 4 DEVELOP INDY UPDATED THE ARTICLES OF INCORPORATION AND BYLAWS TO REFLECT THE NAME CHANGE FOR THE ORGANIZATION. THE NAME CHANGE WAS REFLECTED ON THE 2009 FORM 990 AND THE AMENDED ARTICLES OF INCORPORATION WERE ATTACHED TO THAT RETURN. Classes of members or stockholders Form 990, Part VI, Section A, Line 6 THE SOLE MEMBER IS THE MAYOR OF INDIANAPOLIS. NINE BOARD MEMBERS ARE APPOINTED BY THE MAYOR 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 used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a 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. Public Disclosure 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. PROCESS FOR DETERMINING COMPENSATION OF OTHER OFFICERS FORM 990, PART VI, SECTION B, LINE 15B THERE ARE NO OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION THAT RECEIVE COMPENSATION. THEREFORE, THIS QUESTION WAS MARKED "NO" PER THE FORM 990 INSTRUCTIONS.