Nonprofit · EIN 20-2664607
INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC
Tax-exempt · INDIANAPOLIS, IN 46204
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $322,700 | $1,742,875 | -$1,420,175 | $2,165,320 | $265,211 | $1,900,109 |
| June 30, 2024 | 990 | $3,246,134 | $1,158,043 | $2,088,091 | $3,632,673 | $312,389 | $3,320,284 |
| June 30, 2023 | 990 | $1,570,847 | $2,253,710 | -$682,863 | $1,274,371 | $285,251 | $989,120 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $306,239
- Program service revenue
- $0
- Investment income
- $16,461
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $10,605
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $54,450
- Accounting fees
- $1,300
- Occupancy
- $21,992
- Travel
- $395,226
- Program services (functional)
- $810,395
- Management and general (functional)
- $932,480
Balance sheet and other
- Total assets, start of year
- $3,632,673
- Total assets, end of year
- $2,165,320
- Total liabilities, end of year
- $265,211
- Net assets, end of year
- $1,900,109
- Net assets without donor restrictions
- $1,900,109
- Gross receipts
- $322,700
- Employees
- 0
- Volunteers
- 22
- Year formed
- 2005
- State of legal domicile
- IN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DAVID ROSEBERG | IEDC SECRETARY (END JAN 2025) Officer | 1 | $0 | $298,320 | $58,668 |
| ROBERT PAGLIA | IEDC TREAS. (FEB 2025 - JUNE 2025) Officer | 1 | $0 | $216,889 | $49,579 |
| HEIDI BABKOWSKI | IEDC TREAS. (END FEB 2025) Officer | 1 | $0 | $179,558 | $45,429 |
| ERIC J HOLCOMB | CHAIR (END JAN 2025) Trustee or director, Officer | 1 | $0 | $0 | $0 |
| MIKE BRAUN | CHAIR (START JAN 2025) Trustee or director, Officer | 1 | $0 | $0 | $0 |
| LINDA E WHITE | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL KUBACKI | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JOEL GORELICK | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| DAYTON MOLENDORP | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MARK MILES | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| FRED MERRITT | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| AMY SCHUMACHER | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| DOMINIC GROTE | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JOHN LECHLEITER | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| SUE MCCLOSKEY | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
14 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RICHARD WATERFIELD | BOARD MEMBER (START JUN 2025) Trustee or director | 1 | $0 |
| GUS OLYMPIDIS | BOARD MEMBER (START JUN 2025) Trustee or director | 1 | $0 |
| BILLIE DRAGOO | BOARD MEMBER (START JUN 2025) Trustee or director | 1 | $0 |
| GEORGE THOMAS | BOARD MEMBER (START JUN 2025) Trustee or director | 1 | $0 |
| DON LAMB | BOARD MEMBER (START JUN 2025) Trustee or director | 1 | $0 |
| DAVID FAGAN | BOARD MEMBER (START JUN 2025) Trustee or director | 1 | $0 |
| GREG GIBSON | BOARD MEMBER (START JUN 2025) Trustee or director | 1 | $0 |
| CHRIS KING | BOARD MEMBER (START JUN 2025) Trustee or director | 1 | $0 |
| JOHN GREGG | BOARD MEMBER (START JUN 2025) Trustee or director | 1 | $0 |
| RICK JOHNSON | BOARD MEMBER (END JAN 2025) Trustee or director | 1 | $0 |
| KRISTIN MARCUCCILLI | BOARD MEMBER (END JAN 2025) Trustee or director | 1 | $0 |
| JOHN THOMPSON | BOARD MEMBER (END JUNE 2025) Trustee or director | 1 | $0 |
| DAVID ADAMS | IEDC SECRETARY (START JAN 2025) Officer | 1 | $0 |
| MIKE DANIEL | IEDC TREAS. (START JUNE 2025) Officer | 1 | $0 |
990 for the year ended June 30, 2024: 17 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DAVID ROSENBERG | IEDC EXEC VP, SECRETARY Officer | 1 | $0 | $234,566 | $48,352 |
| HEIDI BABKOWSKI | IEDC TREASURER Officer | 1 | $0 | $147,363 | $38,662 |
| ERIC J HOLCOMB | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| LINDA E WHITE | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL KUBACKI | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JOEL GORELICK | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| DAYTON MOLENDORP | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MARK MILES | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| FRED MERRITT | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| AMY SCHUMACHER | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JOHN THOMPSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| RICK JOHNSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| KRISTIN MARCUCCILLI | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| DOMINIC GROTE | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JOHN LECHLEITER | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| SUE MCCLOSKEY | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| BRAD CHAMBERS | IEDC SECRETARY (END AUG 2023) Officer | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 18 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DAVID ROSENBERG | IEDC EXEC. VP Officer | 1 | $0 | $206,536 | $42,859 |
| ROBERT PAGLIA | IEDC CFO (END JULY 2022) Officer | 1 | $0 | $191,578 | $41,201 |
| HEIDI BABKOWSKI | IEDC CFO (BEGIN JULY 2022) Officer | 1 | $0 | $37,395 | $9,704 |
| GOV ERIC HOLCOMB | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 | $0 |
| LINDA E WHITE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL KUBACKI | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOEL GORELICK | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DAYTON MOLENDORP | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MARK MILES | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| FRED MERRITT | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| AMY SCHUMACHER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN THOMPSON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| RICK JOHNSON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| KRISTIN MARCUCCILLI | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DOMINIC GROTE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN LECHLEITER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| SUE MCCLOSKEY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| BRAD CHAMBERS | IEDC SECRETARY OF COMMERCE Officer | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1 NORTH CAPITAL AVE, INDIANAPOLIS, IN 46204-2026
- In care of
- % CHAD J SWEENEY
- Principal officer (990 for 2024)
- JOSHUA RICHARDSON, 1 NORTH CAPITAL AVE, INDIANAPOLIS, IN 46204
- Signed the 990
- JOSHUA RICHARDSON, IEDC PRESIDENT
- Phone
- (800) 463-8081
- Website
- HTTPS://IEDC.IN.GOV/
- Return prepared by
- KSM BUSINESS SERVICES INC
Mission
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.
Program accomplishments
- 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.Expenses $810,395 · grants $10,605
What it must file and when
IRS records say it files Not required (state instrumentality). Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 20-2664607
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2007
- Accounting year ends
- June
- Files
- Not required (state instrumentality)
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $2,165,320
- Income (IRS master file)
- $322,700
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $322,700 | $1,742,875 | $2,165,320 | IRS |
| 990 | June 2024 | $3,246,134 | $1,158,043 | $3,632,673 | XML |
| 990 | June 2023 | $1,570,847 | $2,253,710 | $1,274,371 | XML |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-2664607).
Questions about INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC
- What is the EIN of INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC?
- The employer identification number (EIN) of INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC is 20-2664607.
- Is INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC file?
- Form Not required (state instrumentality).
- When is the next return of INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC?
- The 990 for the year ended June 30, 2025 names JOSHUA RICHARDSON.
- Who are the officers and directors of INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC?
- The 990 for the year ended June 30, 2025 lists 29 people; 0 received compensation from the organization.
- How much revenue does INDIANA ECONOMIC DEVELOPMENT FOUNDATION INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $322,700, expenses of $1,742,875 and total assets of $2,165,320 at year end.
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