2026-05-28T14:25:52-05:00 2025-06-30 350905017 WHITINGER & COMPANY LLC 1100 W WHITE RIVER BLVD MUNCIE IN 473033776 990 2024-07-01 263291952 BALL STATE INNOVATION CORPORATION BALL 7652851033 2000 W UNIVERSITY AVE AD 103 MUNCIE IN 47306 LISA BEVANS AVP & UNIVERSITY CONTROLLER 7652852523 2026-05-21 1 0 HOLLY MCCOLLUM CPA P00439435 7652843384 2026-05-21 2024 2025-03-06 01:10:19Z LISA BEVANS 2000 W UNIVERSITY AVE MUNCIE IN 47306 24860105 0 X N/A X 2008 IN THE MISSION OF THE BALL STATE INNOVATION CORPORATION IS TO PROMOTE AND FURTHER THE EDUCATIONAL PURPOSES OF BALL STATE UNIVERSITY:(A) BY OBTAINING, ACQUIRING, CONSTRUCTING OR OTHERWISE PROVIDING BUILDINGS, GROUNDS, OR OTHER SUITABLE FACILITIES OR IMPROVEMENTS FOR BALL STATE OR FOR THE USE OR BENEFIT OF BALL STATE;(B) BY OBTAINING, ACQUIRING, HOLDING, USING OR PROVIDING FUNDS AND PROPERTY, REAL OR PERSONAL, FOR THE ACCOMPLISHMENT OF ANY OR ALL OF THE PURPOSES AND MATTERS INCIDENT TO CARRYING OUT THE EDUCATIONAL PURPOSES OF BALL STATE, INCLUDING THE FINANCING, IMPROVING, AND CONSTRUCTING OF BUILDINGS AND GROUNDS USED TO CARRY ON THE EDUCATIONAL PURPOSES OF BALL STATE; (C) BY SUPPORTING AND ASSISTING THE BOARD OF TRUSTEES OF BALL STATE IN THE CONDUCT OF THE AFFAIRS OF BALL STATE AND THE ACCOMPLISHMENT OF ITS EDUCATIONAL PURPOSES; AND (D) TO TRANSACT BUSINESS THAT IS NOT INCONSISTENT WITH THE CORP. BEING ORGANIZED AND OPERATED FOR CHARITABLE, RELIGIOUS, SCIENTIFIC AND EDUCATIONAL PURPOSES. 3 0 0 0 0 0 0 0 0 23961510 0 898595 0 0 0 24860105 0 0 0 0 0 0 0 0 0 0 1136930 0 1136930 0 23723175 95385 81270917 0 57452357 95385 23818560 X THE MISSION OF THE BALL STATE INNOVATION CORPORATION IS TO PROMOTE AND FURTHER THE EDUCATIONAL PURPOSES OF BALL STATE UNIVERSITY. 0 1 843251 23961510 OBTAIN, ACQUIRE, CONSTRUCT OR OTHERWISE PROVIDE BUILDINGS, GROUNDS, OR OTHER SUITABLE FACILITIES OR IMPROVEMENTS FOR BALL STATE UNIVERSITY. 843251 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 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 X 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 IN X LISA BEVANS 7652852523 2000 W UNIVERSITY AVE AD 103 MUNCIE IN 47306 SCOTT STACHLER DIRECTOR 1.00 40.00 X 0 169497 14549 ALAN FINN DIRECTOR 1.00 40.00 X 0 280825 33397 ANAND MARRI DIRECTOR 1.00 40.00 X 0 352099 12738 SALI FALLING FORMER DIRECTOR 1.00 40.00 X 0 194223 67671 0 996644 128355 0 1 1 0 FPBSU LLC 200 PARK AVE STE 220 BEACHWOOD OH 441224233 DESIGN AND CONSTRUCTION OF NEW FACILITIE 14993428 ICE MILLER LLP PO BOX 68 INDIANAPOLIS IN 462060068 BOND COUNSEL 145000 2 BSU FOUNDATION PROJECT FINANCING 531390 18469367 18469367 BSU PROJECT SUPPORT REVENUE 531390 5492143 5492143 23961510 898595 898595 24860105 23961510 0 898595 184288 184288 109391 109391 843251 843251 1136930 843251 293679 0 83385 10920759 5689850 5264500 12000 32716376 0 26679432 95385 81270917 7989107 5263250 0 44200000 0 57452357 X 0 0 0 0 95385 23818560 95385 23818560 95385 81270917 23723175 0 X 0 0 0 X X X 1 BALL STATE UNIVERSITY 356000221 2 1 1136930 0 1 1136930 0 0.89160 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 US TREASURY NOTES - SHORT-TERM 24889700 F US TREASURY NOTES - LONG-TERM 7826676 F 32716376 CONSTRUCTION IN PROCESS 26679432 26679432 LEASE PURCHASE OBLIGATION 44200000 44200000 0 0 0 0 0 0 0 0 0 ANAND MARRI DIRECTOR 0 347401 0 0 0 4698 0 0 0 12738 0 364837 0 0 ALAN FINN DIRECTOR 0 280825 0 0 0 0 0 23074 0 10323 0 314222 0 0 SALI FALLING FORMER DIRECTOR 0 194223 0 0 0 0 0 61000 0 6671 0 261894 0 0 SCOTT STACHLER DIRECTOR 0 169497 0 0 0 0 0 0 0 14549 0 184046 0 0 FORM 990, PART III, LINE 3 THE ENTITY PURPOSE WAS CHANGED DURING THE YEAR, AND THE ARTICLES OF INCORPORATION WERE REVISED ACCORDINGLY. THE MISSION AND PURPOSE WAS REVISED. PREVIOUSLY, THE ORGANIZATION'S PURPOSE WAS TO MANAGE THE INTELLECTUAL PROPERTY OF BALL STATE UNIVERSITY. THE PURPOSE WAS REVISED TO PROMOTE AND FURTHER THE EDUCATIONAL PURPOSES OF THE UNIVERSITY BY OBTAINING, ACQUIRING, CONSTRUCTING OR OTHERWISE PROVIDING BUILDINGS, GROUNDS, OR OTHER SUITABLE FACILITIES OR IMPROVEMENTS FOR BALL STATE UNIVERSITY, OR FOR THE USE OR BENEFIT OF THE UNIVERSITY. FORM 990, PART V, PAGE 4, ITEM 1A BALL STATE UNIVERSITY IS A FISCAL AGENT FOR BALL STATE INNOVATION CORPORATION AND ADMINISTRATIVELY HANDLES THE 1099 TAX REPORTING FOR THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE 990 RETURN IS REVIEWED BY THE BOARD PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION C, LINE 19 INDIVIDUALS CAN CONTACT THE OFFICE AND WILL BE PROVIDED THE REQUESTED INFORMATION. FORM 990, PART VI 6, SECTION B - EXCEPTION TO WRITTEN POLICIES BALL STATE INNOVATION CORPORATION IS AFFILIATED WITH BALL STATE UNIVERSITY. BALL STATE INNOVATION CORPORATION IS GOVERNED BY THE WRITTEN POLICIES OF BALL STATE UNIVERSITY. THESE POLICIES INCLUDE BUT ARE NOT LIMITED TO A WRITTEN CONFLICT OF INTEREST POLICY, A WRITTEN WHISTLEBLOWER POLICY AND A WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY. BALL STATE UNIVERSITY 2000 W UNIVERSITY AVENUE MUNCIE IN 47306 356000221 PUBLIC UNIVERSITY IN 170(B)(1)(A)(II) 0 BALL STATE UNIVERSITY FOUNDATION 2800 W BETHEL MUNCIE IN 47306 356024566 UNIVERSITY FOUNDATION IN 170(B)(1)(A)(IV) 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 BALL STATE UNIVERSITY M 5490893 BALL STATE UNIVERSITY FOUNDATION M 18469367 BALL STATE UNIVERSITY J 1250 THE ORGANIZATION ENGAGED ITS CPA TO PREPARE THE RETURN WELL IN ADVANCE OF BOTH THE ORIGINAL AND EXTENDED FILING DEADLINES. BEGINNING IN JULY 2025, THE CPA REQUESTED THE FINANCIAL RECORDS AND SUPPORTING DOCUMENTATION NECESSARY TO COMPLETE THE RETURN, AND FOLLOW-UP REQUESTS WERE MADE PERIODICALLY OVER THE FOLLOWING MONTHS.DURING THE YEAR, THE ORGANIZATION UNDERWENT SIGNIFICANT OPERATIONAL CHANGES, INCLUDING A REPURPOSING OF ACTIVITIES, WHICH INCREASED THE COMPLEXITY OF ITS ACCOUNTING AND REPORTING REQUIREMENTS. IN ADDITION, THE ORGANIZATION EXPERIENCED STAFF TURNOVER IN A KEY LEADERSHIP POSITION, WHICH CONTRIBUTED TO DELAYS IN THE PREPARATION AND FINALIZATION OF FINANCIAL INFORMATION.COMPLETE AND RELIABLE FINANCIAL INFORMATION WAS NOT MADE AVAILABLE TO THE CPA UNTIL APPROXIMATELY TWO WEEKS PRIOR TO THE EXTENDED DUE DATE OF THE RETURN. UPON RECEIPT OF THE INFORMATION, THE CPA PROMPTLY BEGAN PREPARATION OF THE RETURN. HOWEVER, DUE TO THE COMPLEXITY OF THE ORGANIZATION'S ACTIVITIES AND THE TIME REQUIRED TO ENSURE THE RETURN WAS COMPLETE, ACCURATE, AND COMPLIANT WITH APPLICABLE REPORTING REQUIREMENTS, THERE WAS INSUFFICIENT TIME TO FINALIZE AND FILE THE RETURN BY THE EXTENDED DEADLINE.THE ORGANIZATION EXERCISED ORDINARY BUSINESS CARE AND PRUDENCE BY ENGAGING QUALIFIED TAX PROFESSIONALS, MAINTAINING ONGOING COMMUNICATION REGARDING THE OUTSTANDING INFORMATION NEEDED TO COMPLETE THE FILING, AND ACTING DILIGENTLY ONCE THE NECESSARY RECORDS BECAME AVAILABLE. UNDER THESE CIRCUMSTANCES, ADDITIONAL TIME WAS REQUIRED IN ORDER TO PREPARE A COMPLETE AND ACCURATE RETURN.THE ORGANIZATION HAS SINCE IMPLEMENTED CORRECTIVE MEASURES, INCLUDING IMPROVED FINANCIAL REPORTING TIMELINES AND ENHANCED COMMUNICATION PROCEDURES WITH ITS ADVISORS, TO HELP ENSURE TIMELY COMPLIANCE WITH FUTURE FILING REQUIREMENTS.ACCORDINGLY, THE ORGANIZATION RESPECTFULLY REQUESTS ABATEMENT OF ANY PENALTIES ASSESSED IN CONNECTION WITH THE LATE FILING OF THE RETURN.