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EIN 35-1548607

Business Development Corporation (BDC)

IRS 501(c) type
501(c)(4)
Num. employees
3
City
South Bend
State
Indiana
Year formed
1983
Most recent tax filings
2023-12-01
NTEE code, primary
S31: Urban, Community Economic Development
Description
To further economic development, principally within any and all counties located in North Central Indiana and Southwest Michigan. To further economic development,principally within any and all counties located in north central Indiana and southwest Michigan.
Total revenues
$887,630
2023
Total expenses
$620,367
2023
Total assets
$6,012,715
2023
Num. employees
3
2023

Program areas at BDC

Economic Development. Generated 11 loan totaling 8,353,000 as of fiscal year ending 9/30/2023 and closed 14 loans totaling 14,942,000 as of year- end 2023, and also generated 1 direct loan for 171,830. In addition, also provided 6,500 in grants to several small local nonprofit organizations.

Grants made by BDC

GranteeGrant descriptionAmount
Caring Connection / The Avenue Family Network IncGenerator$10,000
Seasons Counseling of MichianaReplace Roof$10,000
Christian Methodist Episcopal Church / Laymen Chapel Cme ChurchFoundation Repairs$10,000
...and 7 more grants made

Personnel at BDC

NameTitleCompensation
Elizabeth J WittlingPresident and Chief Operating Officer$174,875
Kalin MillerAccountant and C$70,752
William HeffelfingerTreasurer$0
Michael WargoChair$0
Kevin KruggelPast Treasurer$0
...and 3 more key personnel

Financials for BDC

RevenuesFYE 12/2023
Total grants, contributions, etc.$0
Program services$715,963
Investment income and dividends$212,002
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$-40,335
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$887,630

Form 990s for BDC

Fiscal year endingDate received by IRSFormPDF link
2023-122024-06-21990View PDF
2022-122023-03-17990View PDF
2021-122022-03-17990View PDF
2020-122021-03-23990View PDF
2019-122020-09-04990View PDF
...and 9 more Form 990s
Data update history
June 17, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 14, 2023
Posted financials
Added Form 990 for fiscal year 2021
May 10, 2023
Updated personnel
Identified 7 new personnel
May 8, 2023
Used new vendors
Identified 1 new vendor, including
August 17, 2022
Updated personnel
Identified 7 new personnel
Nonprofit Types
Grantmaking organizationsPublic sector nonprofitsBusiness and community development organizationsCharities
Issues
Community improvementEconomic development
Characteristics
State / local levelTax deductible donations
General information
Address
218 W Washington St 10th FL
South Bend, IN 46601
Metro area
South Bend-Mishawaka, IN-MI
Website URL
bdcloan.com/ 
Phone
(574) 288-5758
IRS details
EIN
35-1548607
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1983
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent
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