Business Development Corporation

SOUTH BEND, IN EIN: 35-1548607 Website

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

Financial Overview

From 2024 IRS Form 990-PF

Total Assets

$6.5M

+8.0% YoY

Annual Giving

$8K

Grant Count

1

Avg Grant Size

$8K

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Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$275K$551K$826K$1M201920202021202220232024
Metric202420232022
Total Assets$6,491,579$6,012,715$4,829,222
Revenue$1,001,719$887,630$816,472
Expenses$672,095$620,367$699,236
Qualifying Distributions
Net Investment Income$345,849$171,667$144,909
Distributable Amount

Giving Over Time

Total grant dollars and number of grants per year

$0$26K$52K$78K$104K0 grants20190 grants20200 grants202111 grants20220 grants20231 grants2024

Grant Insights

How this funder distributes its grants

Top Recipients

Top 1 recipients in 2024

OTHERS$8K

Grant Size Distribution

12 grants across all recorded years

12<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

Giving History

Grant recipients and amounts by year

No grants recorded for .

Who else does Business Development Corporation fund?

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Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

ELIZABETH J WITTLINGPRESIDENT/CO$170KKALIN MILLERACCOUNTANT/C$83KCARRIE KOSACPRESIDENT$32K

From 2024 filing

NameTitleHoursCompensation
CARRIE KOSACPRESIDENT40$31,635
ELIZABETH J WITTLINGPRESIDENT/CO40$169,880
KALIN MILLERACCOUNTANT/C40$82,600
PETER GILLINDIRECTOR1
RYAN HOFFMANDIRECTOR1
NICK MATTHEWSDIRECTOR1
JILL SCICCHITANODIRECTOR1
ALAN STEELEDIRECTOR1
BRYAN OLUNDDIRECTOR1
PATTY MCNARNEYDIRECTOR1
HEATHER OBERMEYERDIRECTOR1
MATT WETZELDIRECTOR1
PATTY WHEELERDIRECTOR1
WILLIAM HEFFELFINGER CPATREASURER2
RYAN BELLSECRETARY2
TOM ROSSCHAIRMAN2

Geographic Focus

Where this funder has awarded grants

Grant Distribution by State

2states

Cities

Benton HarborElkhartGoshenMishawakaSouth Bend

Data last updated March 2026. Sourced from IRS Form 990-PF filings.

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