Harrison County Economic Development…: Financials & Form 990

Darrell Voelker’s $48K as Executive Director is at the 27th percentile of top reported officer pay among 1711 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

Name	FY2025	FY2024
Darrell Voelker	$48,034	$109,180

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization, with a nickname or small spelling change read as the same person. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Harrison County Economic Development Corporation executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Updates and questions

Builds Harrison County's economic future through planning, education, and employer growth.

Our summary of the filed mission and programs (Form 990 Part III, line 4), not the words of the organization.

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By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$387K

Ln 12

Fees for servicesLn 2g$300K

Other incomeLn 4–11$78K

Investment incomeLn 3$10K

Money outPt IX

$156K

Ln 25

Programscol B$101K

Managementcol C$55K

Owns and owesPt X

$3.5M

net assets · Ln 32

Cash and savingsLn 1–2$898K

Total assetsLn 16$9.5M

LiabilitiesLn 26$6.0M

PeoplePt VI, VII

8

listed · VII A

PaidVII A1

Voting boardVI 1a7

IndependentVI 1b7

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$300K

Investment incomeLn 3$10K

Other incomeLn 4–11$78K

Total revenueLn 12$387K

Assets in detailPt X, end of year

CashLn 1$64K

SavingsLn 2$833K

Cash and savings togetherLn 1–2$898K

Notes and loans receivableLn 7$1.9M

Other assetsLn 15$6.7M

Total assetsLn 16$9.5M

LiabilitiesLn 26$6.0M

Net assetsLn 32$3.5M

OperationsPt I, VI

EmployeesI 51

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$694K	$898K
Land, buildings, equipmentLn 10c	$6.7M	$0
Total assetsLn 16	$9.3M	$9.5M
LiabilitiesLn 26	$6.1M	$6.0M
Net assetsLn 32	$3.2M	$3.5M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of officers and key staff (Part IX, line 5)Ln 5	$48K	$30K	$18K
Other employee benefitsLn 9	$5K	$3K	$2K
Payroll taxesLn 10	$4K	$2K	$1K
Management feesLn 11a	$18K		$18K
Lobbying feesLn 11d	$5K	$5K
Advertising and promotionLn 12	$6K	$6K
Office expensesLn 13	$2K	$1K	$1K
InsuranceLn 23	$2K		$2K
Other expenses (24a–d)Ln 24	$66K	$54K	$12K
All other expensesLn 24e	$467		$467
Total functional expensesLn 25	$156K	$101K	$55K	$0

Part VII lists each person's pay for the calendar year, including pay from related organizations and from people who have left; Part IX, line 5 is this organization's own cost for its current officers and key staff over its fiscal year.

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Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$387K	$156K	$231K	$3.5M	990 PDF
FY2024Filed with the IRS Sep 26, 2025	$737K	$413K	$324K	$3.2M	990 PDF
FY2023Filed with the IRS Nov 8, 2024	$444K	$304K	$141K	$2.9M	990 PDF
FY2022Filed with the IRS Nov 7, 2023	$320K	$341K	−$22K	$2.8M	990 PDF
FY2021Filed with the IRS Nov 10, 2022	$286K	$384K	−$98K	$2.3M	990 PDF
FY2020Filed with the IRS Nov 10, 2021	$525K	$354K	$171K	$2.4M	990 PDF

Schedules filed Part IV

A · Public support C · Political and lobbying D · Assets and endowments O · Explanations

See the full FY2025 990

Part I · Summary $387,298 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $400,000$300,000

I-10 Investment incomePrior year $158,524$9,658

I-11 Other revenuePrior year $178,181$77,640

I-12 Total revenuePrior year $736,705$387,298

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $130,129$57,223

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $282,664$98,901

I-18 Total expensesPrior year $412,793$156,124

I-19 Revenue less expensesPrior year $323,912$231,174

Part III · Program service accomplishments 3 programs, $101,489 spent

III-4a Business development. Business development activities are performed to make our community ready for new businesses to locate here. The corporation is working specifically to develop two business areas in our county and we provide financial assistance to prepare this property for business growth.$82,300

III-4b Education. Small business services and training activities were conducted and additional training programs were provided through our regional workforce board, the locally based lifelong learning program, and the act work ready communities program. The corporation also performs customized training support to local employers to improve the skills in the workplace.$12,424

III-4c Promotion. Promotional projects and programs are conducted for the purpose of attracting new businesses to locate in our community. We are partners with a regional marketing group that promotes our region internationally and all around the United States. The promotional efforts are to try to recruit new businesses to harrison county. Additional business promotion is conducted within our community by keeping connections with our existing businesses and providing assistance to them so they can grow in our community.$6,765

Part IV · Checklist of required schedules 4 of 48 answered Yes, no flags

IV-1 A 501(c)(3) charity (Schedule A)Yes

IV-2 Lists its large donors to the IRS (Schedule B)No

IV-3 Took part in a political campaignNo

IV-4 LobbiedYes

IV-5 Owes proxy tax on member duesNo

IV-6 Holds donor advised fundsNo

IV-7 Holds conservation easementsNo

IV-8 Holds art or historical collectionsNo

IV-9 Credit counseling or escrow accountsNo

IV-10 Holds endowment fundsNo

IV-11a Reports land, buildings and equipmentNo

IV-11b Reports investments in other securitiesNo

IV-11c Reports program-related investmentsNo

IV-11d Reports other assetsYes

IV-11e Reports other liabilitiesNo

IV-11f Uncertain tax positions footnoteNo

IV-12a Its own audited financial statementsNo

IV-12b In a group's audited financial statementsNo

IV-13 Runs a schoolNo

IV-14a Has an office, staff or agents outside the USNo

IV-14b Over $10,000 of activity outside the USNo

IV-15 Over $5,000 in grants to groups abroadNo

IV-16 Over $5,000 in aid to people abroadNo

IV-17 Over $15,000 to paid fundraisersNo

IV-18 Over $15,000 from fundraising eventsNo

IV-19 Over $15,000 from gamingNo

IV-20a Runs a hospitalNo

IV-21 Over $5,000 in grants to US groupsNo

IV-22 Over $5,000 in grants to US peopleNo

IV-23 Reports top pay in detail (Schedule J)No

IV-24a Over $100,000 in tax-exempt bondsNo

IV-25a Gave an insider an excess benefit this yearNo

IV-25b Found an excess benefit from a past yearNo

IV-26 Loan to or from an officer or insiderNo

IV-27 Grant to an insider or their familyNo

IV-28a Business deal with an officer or directorNo

IV-28b Business deal with an officer's familyNo

IV-28c Business deal with a firm an officer controlsNo

IV-29 Over $25,000 in noncash giftsNo

IV-30 Gifts of art or historical itemsNo

IV-31 Closed down or dissolvedNo

IV-32 Sold or gave away over 25% of its net assetsNo

IV-33 Owns a single-member companyNo

IV-34 Related to other organizations (Schedule R)No

IV-35a Controls another organizationNo

IV-36 Transfers to a related non-charityNo

IV-37 Activity through a partnershipNo

IV-38 Explains answers in Schedule OYes

Part V · Other IRS filings and tax compliance no flags

V-1a Forms 1099 filed0

V-1b Forms W-2G filed0

V-2a Employees on W-2 forms1

V-2b Filed its payroll tax returnsNo

V-3a Over $1,000 of unrelated business incomeNo

V-4a Holds an account in a foreign countryNo

V-5a Party to a prohibited tax shelterNo

V-5b Knew another party was in a tax shelterNo

V-6a Raised gifts that are not tax deductibleNo

V-7a Gifts where the donor got something backNo

V-7c Sold donated property it had to reportNo

V-14a Sold indoor tanningNo

V-15 Owes tax on pay over $1 millionNo

V-16 Owes the college endowment taxNo

Part VI · Governance 7 of 7 board members independent, no flags

VI-1a Voting members of the governing body7

VI-1b Independent voting members7

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's paySchedule OThe governing body meets to determine the compensation of the executive director. They conduct a statewide survey of similar organizations in indiana and compare data to determine the pay, and to conduct the performance evaluation of the executive director. The survey with compensation, benefits and other metrics is conducted annually.Yes

Part VII · Officers, directors and key employees 8 people listed, 1 paid by the organization

VII-1a Darrell VoelkerExecutive Director · 40 hours a week$48,034

VII-1a Daniel ShiremanTreasurer · 3 hours a week$0

VII-1a David LettPresident · 5 hours a week$0

VII-1a David SandersVice President · 3 hours a week$0

VII-1a Joe KellumBoard Member · 2 hours a week$0

VII-1a Kyle NixBoard Member · 2 hours a week$0

VII-1a Nelson SteproBoard Member · 2 hours a week$0

VII-1a Rusty CrosierBoard Member · 2 hours a week$0

Part VIII · Statement of revenue $387,298 across 3 lines filed

Lines not itemized here account for $9,658 of total revenue; see the IRS return.

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $300,000$300,000

VIII-6 Net rental income or lossRelated to mission $77,640$77,640

VIII-12 Total revenueRelated to mission $377,640 · Unrelated business $0 · Excluded from tax $9,658$387,298

Part IX · Statement of functional expenses $156,124 across 10 lines filed

IX-5 Pay of officers and key staff (Part IX, line 5)Programs $30,262 · Management $17,772Part VII lists each person's pay for the calendar year, including pay from related organizations and from people who have left; Part IX, line 5 is this organization's own cost for its current officers and key staff over its fiscal year.$48,034

IX-9 Other employee benefitsPrograms $3,325 · Management $1,952$5,277

IX-10 Payroll taxesPrograms $2,465 · Management $1,447$3,912

IX-11a Management feesManagement $18,004$18,004

IX-11d Lobbying feesPrograms $4,980$4,980

IX-12 Advertising and promotionPrograms $5,577$5,577

IX-13 Office expensesPrograms $1,188 · Management $1,071$2,259

IX-23 InsuranceManagement $1,834$1,834

IX-24 Other expenses (24a–d)Programs $53,692 · Management $12,088$65,780

IX-24e All other expensesManagement $467$467

IX-25 Total functional expensesPrograms $101,489 · Management $54,635 · Fundraising $0$156,124

Part X · Balance sheet $9,491,478 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $52,900$64,213

X-2 Savings and temporary cash investmentsStart of year $641,543$833,449

X-7 Notes and loans receivableStart of year $1,947,837$1,940,901

X-10c Land, buildings and equipment, netStart of year $6,652,915$0

X-15 Other assetsStart of year $0$6,652,915

X-16 Total assetsStart of year $9,295,195$9,491,478

X-17 Accounts payable and accrued expensesStart of year $1,668$0

X-24 Unsecured notes and loans payableStart of year $6,053,566$6,020,343

X-26 Total liabilitiesStart of year $6,055,234$6,020,343

X-27 Net assets without donor restrictionsStart of year $3,239,961$3,471,135

X-32 Total net assets or fund balancesStart of year $3,239,961$3,471,135

X-33 Total liabilities and net assetsStart of year $9,295,195$9,491,478

Part XI · Reconciliation of net assets $3,471,135 net assets at year end

XI-1 Total revenue$387,298

XI-2 Total expenses$156,124

XI-3 Revenue less expenses$231,174

XI-4 Net assets at start of year$3,239,961

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$3,471,135

Part XII · Financial statements and reporting Audited: No

XII-2b Financial statements audited by an independent accountantNo

Schedule O · Explanations 5 explanations

O-1 Part VI, line 7aCounty government officials have the authority to appoint members to the governing body and a minority of the governing body are county officials.

O-2 Part VI, line 11bThe completed 990 is distributed to the governing body and open discussion about the form is conducted at a regular board meeting prior to filing.

O-3 Part VI, line 12cBoard members complete a conflict of interest statement at the first meeting of the year. The board president reviews the statements and asks members about any updates or changes to the completed form at multiple meetings throughout the year.

O-4 Part VI, line 15The governing body meets to determine the compensation of the executive director. They conduct a statewide survey of similar organizations in indiana and compare data to determine the pay, and to conduct the performance evaluation of the executive director. The survey with compensation, benefits and other metrics is conducted annually.

O-5 Part VI, line 19Documents including the form 990, the conflict of interest and other compliance forms are made available to the public upon request by contacting the executive director and arranging a meeting to view and discuss the documents. The public can obtain copies of the governing documents upon request.

Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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Harrison County Economic Development Corporation

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