Business Development Corporation FY2020 filing
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Form 990 for the fiscal year ending December 2020 (IRS tax year 2020).
Promotes economic growth in North Central Indiana and Southwest Michigan counties. For fiscal year 2020 it reported $952K in revenue, $576K in expenses, and $4.7M in net assets.Pt I
- Founded
- 1983
- Type
- Membership association · Nonprofit
- Location
- South Bend, IN
- Website
- www.bdcloan.com
- Filings
- 6 on file (2020–2020)
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What Funders Ask
Will my donation be tax-deductible?
GOODYes — A social-welfare organization or civic league. Contributions are generally not tax-deductible.
IRS Business Master File records this organization as tax-exempt with deductible contributions. See detail →
Can I donate to this org right now?
GOODNo revocation on IRS record
This EIN does not appear on the IRS auto-revocation list. See detail →
Is this organization up to date?
GOODYes — filed FY2025
Most recent Form 990 on file is for fiscal year 2025 (1 year ago). See detail →
Is it receiving grants from reputable foundations?
NEUTRALNo foundation grants on file
No Schedule I/Schedule R grants from other foundations are on file for this EIN. See detail →
How is the money spent?
GOOD79% to programs
79% of total functional expenses went to program services in the most recent filing (Form 990 Part IX); the rest is overhead and fundraising. See detail →
What's its financial size and trend?
NEUTRAL$1–10M
Revenue band $1–10M. Not enough years on file for a trend. See detail →
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Summary of the Filing
Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
Compensation history total reportable pay by year · 5 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Elizabeth J Wittling | $46,467 | $169,880 | $171,600 | $174,875 | $162,500 | — |
| Carrie Kosac | $160,000 | $31,635 | — | — | — | — |
| Elizabeth Wittling | — | — | — | — | — | $157,643 |
| Kalin Miller | $83,873 | $82,600 | $81,250 | $70,752 | $68,650 | — |
| Kalin Miller | — | — | — | — | — | $67,750 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Where the work happens
Generated 21 new SBA-guaranteed loans totaling $16,019,143 and 1 new direct loan for $250,000, and serviced 175 SBA-guaranteed loans totaling $67,134,906 and 15 direct loans totaling $1,798,513
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Statement of Revenue
Statement of Functional Expenses
Balance Sheet
Financial Metrics
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
| Metric | This org | Peer median | Percentile |
|---|---|---|---|
| Program ratio | 79% | — | — |
| Overhead ratio | 21% | — | — |
| Investment management fee ratio | 0.3% | — | — |
| Legal fee ratio | 8% | — | — |
| Accounting fee ratio | 2% | — | — |
Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.
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Filings & Schedule Manifest
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Sources
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