Form 990 for the fiscal year ending December 2022 (IRS tax year 2022).
Promotes economic growth in North Central Indiana and Southwest Michigan counties. For fiscal year 2022 it reported $816K in revenue, $699K in expenses, and $4.8M in net assets.Pt I
- Founded
- 1983
- Type
- Membership association · Nonprofit
- Location
- South Bend, IN
- Website
- www.bdcloan.com
- Filings
- 6 on file (2020–2022)
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What Funders Ask
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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
Economic development. Generated loan approvals totaling 27,451,557 as of fiscal year ended september 30, 2022 and and 23 loan closings totaling 12,308,359 as of year-end 2022. Also provided 105,623 in grants to eleven local nonprofit organizations.
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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 | 81% | — | — |
| Overhead ratio | 19% | — | — |
| Revenue growth | -6% | — | — |
| Investment management fee ratio | 0.4% | — | — |
| Legal fee ratio | 7% | — | — |
| 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.
Grants
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Filings & Schedule Manifest
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Sources
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