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BUSINESS DEVELOPMENT CORPORATION

EIN 35-1548607 SOUTH BEND, IN

Revenue 2024
$1,001,719
Expenses 2024
$672,095

Program services were 67.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

As filed

Subsection
04
Classification
3000
Street
218 WEST WASHINGTON STREET 10TH FLO

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Mission and programs · 2024

Mission

TO FURTHER ECONOMIC DEVELOPMENT,PRINCIPALLY WITHIN ANY AND ALL COUNTIES LOCATED IN NORTH CENTRAL INDIANA AND SOUTHWEST MICHIGAN.

  • ECONOMIC DEVELOPMENT. CLOSED AND FUNDED 9 LOANS TOTALING 9,552,320 AS OF FISCAL YEAR ENDING 9/30/2024 AND ALSO APPROVED 11 LOANS TOTALING 7,087,000. IN ADDITION, ALSO PROVIDED 7,500 IN GRANTS TO SEVERAL SMALL LOCAL NONPROFIT ORGANIZATIONS.

    Expenses $452,532 · Grants $7,500 · Revenue $655,870

As filed on the 2024 return.

Officers and directors · 2024

As listed in Part VII of the 2024 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

  • CARRIE KOSAC

    PRESIDENT

    Total calculated
    $31,635
    From this org
    $31,635
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • ELIZABETH J WITTLING

    PRESIDENT/CO

    Total calculated
    $204,638
    From this org
    $169,880
    From related orgs
    $0
    Other
    $34,758
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,000
    Bonus
    $32,880
    Other
    not reported
    Deferred
    $34,758
    Nontaxable benefits
    not reported
    Filer's total
    $204,638

  • KALIN MILLER

    ACCOUNTANT/C

    Total calculated
    $101,682
    From this org
    $82,600
    From related orgs
    $0
    Other
    $19,082
    Hours/week
    40

  • PETER GILLIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RYAN HOFFMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NICK MATTHEWS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JILL SCICCHITANO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALAN STEELE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRYAN OLUND

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PATTY MCNARNEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HEATHER OBERMEYER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MATT WETZEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PATTY WHEELER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM HEFFELFINGER CPA

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • RYAN BELL

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • TOM ROSS

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

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. Earlier years are each on their own filing page.

Filings

  • 2024
    Revenue
    $1,001,719
    Expenses
    $672,095
    Contributions
    $0
    Grants paid
    $7,500
  • 2023
    Revenue
    $887,630
    Expenses
    $620,367
    Contributions
    $0
    Grants paid
    $6,500
  • 2022
    Revenue
    $816,472
    Expenses
    $699,236
    Contributions
    $0
    Grants paid
    $105,623

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

  • 2021 · 990

    Revenue
    $872,254
    Expenses
    $611,577
    Assets (EOY)
    $5,106,992

  • 2020 · 990

    Revenue
    $952,041
    Expenses
    $576,261
    Assets (EOY)
    $4,739,263

  • 2019 · 990

    Revenue
    $664,581
    Expenses
    $517,072
    Assets (EOY)
    $4,385,229

  • 2018 · 990

    Revenue
    $763,667
    Expenses
    $561,886
    Assets (EOY)
    $4,135,430

  • 2017 · 990

    Revenue
    $693,386
    Expenses
    $755,817
    Assets (EOY)
    $4,103,945

  • 2016 · 990

    Revenue
    $620,846
    Expenses
    $603,228
    Assets (EOY)
    $4,013,763

  • 2015 · 990

    Revenue
    $1,167,021
    Expenses
    $847,644
    Assets (EOY)
    $4,094,907

  • 2014 · 990

    Revenue
    $808,462
    Expenses
    $629,371
    Assets (EOY)
    $5,039,276

  • 2013 · 990

    Revenue
    $749,766
    Expenses
    $613,972
    Assets (EOY)
    $4,797,389

  • 2012 · 990

    Revenue
    not reported
    Expenses
    $342,667
    Assets (EOY)
    $4,415,000

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all. Showing the 10 most recent; the API carries the rest.

Grants made

The 10 largest by cash amount. The API serves every itemized grant.

Where these grants went next →

Grants received

No itemized grant names this organization as a recipient. Only grants over $5,000 are itemized, and only by filers of the full Form 990.

Other IRS files

Auto-Revocation List

Not listed. The IRS publishes this list for organizations whose exemption was automatically revoked for failing to file for three consecutive years.

Publication 78

Listed as of 13 October 2026, under deductibility EO.

These are two separate IRS files on two separate schedules, shown as published and not reconciled with each other. Neither is a statement about whether a contribution is deductible today: 19,245 organizations appear in Publication 78 while the IRS's own revocation file lists them as currently revoked, more than half of those revoked before 2019. Absence from Publication 78 is evidence of nothing, and presence is not evidence either. Verify current status with the IRS before relying on it.

What this page reflects

The registration facts above come from the IRS Business Master File published 13 October 2026 and read 26 October 2026, for every organization at once. Returns through tax year 2024, the newest we have parsed for this organization.