2026-05-15T12:03:01-05:00 2025-06-30 352123203 KSM BUSINESS SERVICES INC PO BOX 40857 INDIANAPOLIS IN 46240 990 2024-07-01 202664607 INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC INDI 8004638081 1 NORTH CAPITAL AVE INDIANAPOLIS IN 46204 JOSHUA RICHARDSON IEDC PRESIDENT 8004638081 2026-05-13 1 1 CASSE TATE P01271193 3175802000 2026-05-12 2024 2025-03-06 01:10:19Z JOSHUA RICHARDSON 1 NORTH CAPITAL AVE INDIANAPOLIS IN 46204 322700 0 X HTTPS://IEDC.IN.GOV/ X 2005 IN TO PROMOTE INDUSTRIAL AND BUSINESS DEVELOPMENT, DIVERSIFICATION OF INDIANA'S ECONOMY, AND OVERALL ECONOMIC GROWTH OF INDIANA. 20 20 0 22 0 0 3237109 306239 0 0 9025 16461 0 0 3246134 322700 6938 10605 0 0 0 0 0 0 0 1151105 1732270 1158043 1742875 2088091 -1420175 3632673 2165320 312389 265211 3320284 1900109 X TO 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. 0 0 810395 10605 DURING THE YEAR, THE ORGANIZATION ADVANCED INDIANA'S ECONOMIC GROWTH THROUGH TARGETED BUSINESS ATTRACTION AND EXPANSION INITIATIVES. THESE EFFORTS RESULTED IN MULTIPLE ANNOUNCED INVESTMENTS ACROSS KEY SECTORS INCLUDING ADVANCED MANUFACTURING, LIFE SCIENCES, LOGISTICS, AEROSPACE, AND DEFENSE. MAJOR PROJECTS INCLUDED MANUFACTURING EXPANSIONS, NEW SERVICE AND DISTRIBUTION CENTERS, HEADQUARTERS RELOCATIONS, AND SIGNIFICANT GROWTH IN RESEARCH AND PRODUCTION FACILITIES. COLLECTIVELY, THESE ANNOUNCEMENTS REPRESENTED THOUSANDS OF NEW JOBS AND HUNDREDS OF MILLIONS OF DOLLARS IN PRIVATE SECTOR INVESTMENT STATEWIDE, STRENGTHENING INDIANA'S COMPETITIVE POSITION.THE ORGANIZATION WORKED WITH COMPANIES SUCH AS ALERA MARINE GROUP, BOMBARDIER, HARPERCOLLINS, HYSTER YALE MATERIALS HANDLING, INCOG BIOPHARMA, WARE, KRATOS DEFENSE & SECURITY SOLUTIONS, ROCHE, AND WEST PHARMACEUTICAL SERVICES TO SUPPORT NEW FACILITY LAUNCHES OR MAJOR EXPANSIONS ACROSS INDIANA. THESE PROJECTS INCLUDED LARGE-SCALE MANUFACTURING OPERATIONS, ADVANCED TECHNOLOGY DEVELOPMENT CENTERS, AND EXPANDED DIAGNOSTICS AND LIFE SCIENCE PRODUCTION FACILITIES.OVERALL PROJECT ACTIVITY CONTRIBUTED TO AN EXPECTED 10,934 NEW JOBS AND $902 MILLION IN NEW PAYROLL, WITH AVERAGE HOURLY WAGES OF $39.70, EXCEEDING BOTH STATE AND NATIONAL AVERAGES. INCENTIVES OFFERED PER JOB DECREASED BY 68% FROM THE PRIOR YEAR, GENERATING IMPROVED TAXPAYER VALUE AND RESULTING IN AN ESTIMATED $348 MILLION IN SAVINGS. THESE EFFORTS PROMOTED HIGHER WAGES, INDUSTRY DIVERSIFICATION, AND LONG TERM ECONOMIC STABILITY THROUGHOUT THE STATE.IN ADDITION, THE ORGANIZATION ADVANCED ITS GLOBAL ENGAGEMENT STRATEGY BY SUPPORTING THE PLANNING AND HOSTING OF THE GLOBAL ENTREPRENEURSHIP CONGRESS (GEC), THE PREMIER ANNUAL EVENT OF THE GLOBAL ENTREPRENEURSHIP NETWORK. THE CONGRESS BRINGS TOGETHER ECOSYSTEM BUILDERS, FOUNDERS, INVESTORS, AND GOVERNMENT PARTNERS FROM AROUND THE WORLD FOR FOUR DAYS OF COLLABORATION AND PRACTICAL INSIGHTS. THE EVENT IS DESIGNED TO UNITE THOUSANDS OF PARTICIPANTS IN A SHARED EFFORT TO STRENGTHEN AND BUILD AN INCLUSIVE GLOBAL ENTREPRENEURIAL ECOSYSTEM. BY HELPING BRING THIS GATHERING TO INDIANA, THE ORGANIZATION SHOWCASED THE STATE'S INNOVATION COMMUNITY AND EXPANDED INTERNATIONAL CONNECTIONS THAT SUPPORT LONG TERM ECONOMIC DEVELOPMENT. 810395 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 7 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X RYAN MILLER 8004638081 1 NORTH CAPITAL AVE INDIANAPOLIS IN 46204 ERIC J HOLCOMB CHAIR (END JAN 2025) 1.00 X X 0 0 0 MIKE BRAUN CHAIR (START JAN 2025) 1.00 X X 0 0 0 LINDA E WHITE BOARD MEMBER 1.00 X 0 0 0 MICHAEL KUBACKI BOARD MEMBER 1.00 X 0 0 0 JOEL GORELICK BOARD MEMBER 1.00 X 0 0 0 DAYTON MOLENDORP BOARD MEMBER 1.00 X 0 0 0 MARK MILES BOARD MEMBER 1.00 X 0 0 0 FRED MERRITT BOARD MEMBER 1.00 X 0 0 0 AMY SCHUMACHER BOARD MEMBER 1.00 X 0 0 0 DOMINIC GROTE BOARD MEMBER 1.00 X 0 0 0 JOHN LECHLEITER BOARD MEMBER 1.00 X 0 0 0 SUE MCCLOSKEY BOARD MEMBER 1.00 X 0 0 0 RICHARD WATERFIELD BOARD MEMBER (START JUN 2025) 1.00 X 0 0 0 GUS OLYMPIDIS BOARD MEMBER (START JUN 2025) 1.00 X 0 0 0 BILLIE DRAGOO BOARD MEMBER (START JUN 2025) 1.00 X 0 0 0 GEORGE THOMAS BOARD MEMBER (START JUN 2025) 1.00 X 0 0 0 DON LAMB BOARD MEMBER (START JUN 2025) 1.00 X 0 0 0 DAVID FAGAN BOARD MEMBER (START JUN 2025) 1.00 X 0 0 0 GREG GIBSON BOARD MEMBER (START JUN 2025) 1.00 X 0 0 0 CHRIS KING BOARD MEMBER (START JUN 2025) 1.00 X 0 0 0 JOHN GREGG BOARD MEMBER (START JUN 2025) 1.00 X 0 0 0 RICK JOHNSON BOARD MEMBER (END JAN 2025) 1.00 X 0 0 0 KRISTIN MARCUCCILLI BOARD MEMBER (END JAN 2025) 1.00 X 0 0 0 JOHN THOMPSON BOARD MEMBER (END JUNE 2025) 1.00 X 0 0 0 DAVID ADAMS IEDC SECRETARY (START JAN 2025) 1.00 40.00 X 0 0 0 MIKE DANIEL IEDC TREAS. (START JUNE 2025) 1.00 40.00 X 0 0 0 ROBERT PAGLIA IEDC TREAS. (FEB 2025 - JUNE 2025) 1.00 40.00 X 0 216889 49579 HEIDI BABKOWSKI IEDC TREAS. (END FEB 2025) 1.00 40.00 X 0 179558 45429 DAVID ROSEBERG IEDC SECRETARY (END JAN 2025) 1.00 40.00 X 0 298320 58668 0 694767 153676 0 0 1 0 SODEXO LIVE DBA CENTERPLATE 100 S CAPITOL AVE INDIANAPOLIS IN 46225 EVENT SERVICES 144488 1 306239 306239 16461 16461 322700 0 0 16461 10605 10605 54450 54450 1300 1300 34450 450 34000 97113 71607 25506 35764 35764 27886 9661 18225 21992 11276 10716 395226 365985 29241 214214 171371 42843 169440 169440 BAD DEBT 680435 680435 1742875 810395 932480 0 2328697 2135984 1301176 2800 29336 3632673 2165320 312389 265211 312389 265211 X 3211050 1900109 109234 0 3320284 1900109 3632673 2165320 -1420175 0 X X 0 1 X 1 0 X 804458 2595349 1546863 3237109 306239 8490018 804458 2595349 1546863 3237109 306239 8490018 4242448 4247570 4570 3137 5411 9025 16461 38604 18573 18573 8547195 0.49700 0.46200 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2022 AMOUNT: $ 18,573. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES TRAVEL EXPENSES FOR SPEAKING ENGAGEMENTS AND STATE REPRESENTATION 250 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES TRAVEL EXPENSES FOR SPEAKING ENGAGEMENTS AND STATE REPRESENTATION 134087 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES TRAVEL EXPENSES FOR SPEAKING ENGAGEMENTS AND STATE REPRESENTATION 214756 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES TRAVEL EXPENSES FOR SPEAKING ENGAGEMENTS AND STATE REPRESENTATION 372873 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES TRAVEL EXPENSES FOR SPEAKING ENGAGEMENTS AND STATE REPRESENTATION 5322 0 0 0 0 0 0 727288 0 727288 0 0 0 0 0 0 X X 1 1 0 0 0 0 0 0 0 0 0 DAVID ROSEBERG IEDC SECRETARY (END JAN 2025) 0 296377 0 0 0 1943 0 33599 0 25069 0 356988 0 0 ROBERT PAGLIA IEDC TREAS. (FEB 2025 - JUNE 2025) 0 215223 0 0 0 1666 0 24510 0 25069 0 266468 0 0 HEIDI BABKOWSKI IEDC TREAS. (END FEB 2025) 0 178169 0 0 0 1389 0 20360 0 25069 0 224987 0 0 PART I, LINE 1A THE 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. FORM 990- VOLUNTARY FILING THE 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 11B A COPY OF THE 990 IS BEING PROVIDED TO THE BOARD BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE 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 REVIEW CONFLICT OF INTEREST DOCUMENTS. FORM 990, PART VI, SECTION B, LINE 15 WHILE 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 19 THE 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 14 THE INDIANA ECONOMIC DEVELOPMENT FOUNDATION FOLLOWS THE POLICIES IN PLACE BY THE STATE OF INDIANA AND THE IED 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. INDIANA ECONOMIC DEVELOPMENT CORPORATION 1 NORTH CAPITOL AVE SUITE 700 INDIANAPOLIS IN 46204 356000158 STATE AGENCY IN 501(C)(3) LINE 6 N/A 0 INDIANA 21ST CENTURY FUND LP ONE NORTH CAPITOL SUITE 700 INDIANAPOLIS IN 46204 453126479 INVESTMENT FUND DE ELEVATE ADVISORS LLC EXCLUDED 450 0 0 0.45000 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0