Form 990 for tax year 2022

Totals

Total revenue

$1,570,847

Total expenses

$2,253,710

Contributions and grants received

$1,546,863

Grants paid

$2,540

Program service revenue

$0

Investment income

$5,411

Other revenue

$18,573

Total assets, end of year

$1,274,371

Total liabilities, end of year

$285,251

Net assets or fund balances, end of year

$989,120

Program services expenses (Part IX)

$1,674,512

Management and general expenses

$422,636

Fundraising expenses

$156,562

Program service expenses (Part III)

$1,674,512

Program services were 74.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Mission and programs · 2022

• IN 2022, THE ORGANIZATION CATALYZED HISTORIC ECONOMIC GROWTH ACROSS INDIANA, SECURING $22 BILLION IN NEW COMMITTED CAPITAL INVESTMENT A 260% INCREASE FROM 2021. THIS SUPPORTED 218 BUSINESS PROJECTS AND GENERATED 24,059 EXPECTED NEW JOBS WITH AN AVERAGE WAGE OF $34.71/HOUR, EXCEEDING THE STATE AVERAGE BY 27.6%. THESE RESULTS MARKED NEW RECORDS IN BOTH INVESTMENT AND JOB CREATION. STRATEGIC SECTOR DEVELOPMENT INCLUDED MAJOR ADVANCEMENTS IN MICROELECTRONICS, ELECTRIC VEHICLES, AND CLEAN ENERGY. SIX NEW MICROELECTRONICS INVESTMENTS WERE ANNOUNCED, INCLUDING A $1.8 BILLION SEMICONDUCTOR R&D AND PRODUCTION FACILITY BY SKYWATER TECHNOLOGY AND A NEW DESIGN CENTER BY TAIWAN-BASED MEDIATEK IN PARTNERSHIP WITH PURDUE UNIVERSITY. THE ORGANIZATION ALSO LAUNCHED WESTGATE ONE, A MICROELECTRONICS HUB IN DAVIESS COUNTY, ATTRACTING OVER $300 MILLION IN INVESTMENT AND MORE THAN 500 NEW JOBS. INDIANA'S ELECTRIC VEHICLE SECTOR EXPANDED WITH STELLANTIS AND SAMSUNG SDI'S JOINT VENTURE TO BUILD A NEXT-GEN EV BATTERY FACILITY IN KOKOMO, CREATING 1,400 JOBS. GENERAL MOTORS COMMITTED $491 MILLION TO UPGRADE ITS MARION METAL PLANT, AND SOULBRAIN MI INVESTED $75 MILLION IN LITHIUM-ION BATTERY PRODUCTION. INDIANA RANKED #4 NATIONALLY FOR NEW CLEAN ENERGY PROJECTS, WITH 5,104 MEGAWATTS UNDER DEVELOPMENT. DORAL RENEWABLES BROKE GROUND ON THE SECOND PHASE OF MAMMOTH SOLAR, SET TO BECOME THE LARGEST SOLAR INSTALLATION IN THE U.S., DELIVERING 1.3 GIGAWATTS OF CLEAN ENERGY ACROSS 13,000 ACRES. THE ORGANIZATION ALSO JOINED A SEVEN-STATE MIDWEST COALITION TO PURSUE A REGIONAL HYDROGEN HUB, ADVANCING ENERGY SECURITY AND AFFORDABILITY. THE ORGANIZATION ELEVATED INDIANA'S GLOBAL PRESENCE THROUGH THE INAUGURAL INDIANA GLOBAL ECONOMIC SUMMIT, HELD IN MAY 2022. THE SUMMIT WELCOMED 944 REGISTRANTS, 29 INTERNATIONAL DELEGATIONS, AND 75 SPEAKERS, GENERATING $1.24 MILLION IN SPONSORSHIPS AND $14.9 MILLION IN EARNED MEDIA VALUE. ADDITIONALLY, INDIANA LEADERS PARTICIPATED IN THE UNITED NATIONS CLIMATE CHANGE CONFERENCE (COP27), JOINING GLOBAL CHANGEMAKERS TO PROMOTE CLEAN ENERGY INNOVATION AND ATTRACT INTERNATIONAL INVESTMENT. THESE ACCOMPLISHMENTS POSITIONED INDIANA AS A FORWARD-LOOKING LEADER IN ADVANCED INDUSTRIES, SUSTAINABILITY, AND GLOBAL COLLABORATION DRIVING INCLUSIVE ECONOMIC GROWTH AND PREPARING THE STATE FOR THE ECONOMY OF THE FUTURE.

  Expenses $1,674,512 · Grants $2,540

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

• INDIANA ECONOMIC DEVELOPMENT CORPORATION

  501(C)(3) · STATE AGENCY · IN

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Provenance

Return type

form_990

Tax year

2022

Filed

16 December 2025

IRS schema version

2022v5.0

Source object

202503539349300340

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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