TIN:
SCHEDULE O
(Form 990)
Department of the Treasury
Internal Revenue Service
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2021
Open to Public
Inspection
Inspection
Name of the organization
CENTRAL INDIANA CORPORATE
PARTNERSHIP INC
PARTNERSHIP INC
Employer identification number
35-2065459
35-2065459
| Return Reference | Explanation |
|---|---|
| FORM 990, PART III, LINE 3 | IN JULY 2022, UPON APPROVAL BY THE EXECUTIVE COMMITTEE OF THE CICP BOARD OF DIRECTORS, CICP ANNOUNCED ENERGY SYSTEMS NETWORK (ESN) BECAME AN OPERATING ENTITY UNDER THE BATTERY INNOVATION CENTER (BIC) WHICH WAS CREATED BY ESN IN 2010 TO ADVANCE INDIANA'S ABILITY TO DEVELOP, TEST, MANUFACTURE, AND COMMERCIALIZE BATTERY AND RELATED ENERGY SYSTEMS TECHNOLOGIES. BIC BECAME A SEPARATE ENTITY IN 2012 BUT HAS CONTINUED TO WORK CLOSELY WITH ESN IN DEVELOPING INDUSTRY-LED INITIATIVES THAT ARE ACCELERATING TECHNOLOGY DEVELOPMENT AND COMMERCIALIZATION THROUGH A BROAD GLOBAL NETWORK OF CORPORATE PARTNERS. THIS MOVE FOR ESN PROVIDES SEVERAL SYNERGIES AND EFFICIENCIES BETWEEN ESN AND THE BIC, ALLOWING FOR ADDITIONAL GLOBAL OPPORTUNITIES THAT WILL CONTINUE TO BOLSTER ECONOMIC DEVELOPMENT IN INDIANA. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE NINE-MEMBER CICP EXECUTIVE COMMITTEE WILL REVIEW THE RETURN BEFORE AUTHORIZING DISTRIBUTION TO THE BOARD OF DIRECTORS. AS SOON AS POSSIBLE AFTER THAT MEETING, THE FORM WILL BE EMAILED TO THE FULL BOARD WITH AN EXPLANATION THAT THE FORM HAS BEEN REVIEWED BY MANAGEMENT AND THE EXECUTIVE COMMITTEE. THE BOARD MEMBERS ARE ENCOURAGED TO CONTACT MANAGEMENT WITH QUESTIONS AND CONCERNS. THE FULL BOARD WILL HAVE AN OPPORTUNITY TO DISCUSS THE RETURN AT THE AUGUST 2023 BOARD MEETING, BEFORE THE RETURN IS FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH DIRECTOR, OFFICER, AND STAFF MEMBER ANNUALLY RECEIVES A CONFLICT OF INTEREST QUESTIONNAIRE THROUGH WHICH THEY ARE ASKED TO CONFIRM OR REPORT THE FOLLOWING: (I) THAT THEY HAVE READ AND UNDERSTAND CICP'S CONFLICT OF INTEREST POLICY (WHICH IMPOSES UPON DIRECTORS, OFFICERS, AND STAFF A CONTINUING, AFFIRMATIVE DUTY TO REPORT ANY PERSONAL OWNERSHIP, INTEREST, OR RELATIONSHIP THAT MIGHT AFFECT THEIR ABILITY TO EXERCISE IMPARTIAL, ETHICAL, AND BUSINESS-BASED JUDGMENTS IN FULFILLING THEIR RESPONSIBILITIES TO CICP); (II) THAT THEY ARE IN COMPLIANCE WITH THE POLICY; (III) THAT THEY ARE REPORTING (WITH THEIR COMPLETED QUESTIONNAIRE) ALL ACTUAL OR POTENTIAL CONFLICTS OF INTEREST THAT ARISE AS A RESULT OF THEIR ROLE WITH CICP, AND EACH POSITION THAT THEY HOLD AS A DIRECTOR, TRUSTEE, OFFICER, OR EMPLOYEE OF ANY OTHER NONPROFIT ORGANIZATION; AND (IV) THAT THEY WILL REPORT PROMPTLY ANY CHANGES IN THE INFORMATION REPORTED IN THEIR QUESTIONNAIRE OR IN ANY OTHER MATTERS THAT MIGHT AFFECT COMPLIANCE WITH THE POLICY. THE EXECUTIVE ASSISTANT TO THE CEO COLLECTS AND REVIEWS THE QUESTIONNAIRES AS THEY ARE RETURNED, ALERTS THE CEO TO ANY CONFLICTS THAT HAVE BEEN REPORTED, AND MAKES SURE THAT ALL WHO ARE REQUIRED TO COMPLETE A CONFLICT QUESTIONNAIRE HAVE DONE SO. WHEN AN INDIVIDUAL REPORTS AN ACTUAL, POTENTIAL, OR PERCEIVED CONFLICT OF INTEREST, CICP FOLLOWS THE PROCEDURES OUTLINED IN ITS POLICY FOR DISCLOSURE OF CONFLICTS TO THE APPLICABLE BODY OF DECISION-MAKERS AND RECUSAL OF INDIVIDUAL(S) WITH CONFLICTS FROM THE DECISION-MAKING PROCESS. PURSUANT TO THE POLICY, THE CICP BOARD IS RESPONSIBLE FOR THE OVERSIGHT OF, AND ACTION REGARDING, ALL DISCLOSURES AND/OR FAILURES TO DISCLOSE. |
| FORM 990, PART VI, SECTION B, LINE 15 | CICP'S CEO AND PRESIDENT/CFO'S PERFORMANCE AND COMPENSATION ARE REVIEWED, ANALYZED, AND SET BY THE CICP EXECUTIVE COMMITTEE, WHICH USES A DISTINCT SET OF COMPARABLE DATA TO THE COMPENSATION OF OTHER EXECUTIVES IN SIMILAR POSITIONS IN OTHER ORGANIZATIONS. ADDITIONALLY, IN 2020 CICP ENGAGED MERCER, A NATIONAL HR CONSULTANCY FIRM, TO WORK WITH CICP TO DEVELOP AND ARTICULATE A FORMAL COMPENSATION STRATEGY AND PAY ANALYSIS OF CICP'S PRESIDENT AND CEO, CHIEF FINANCIAL OFFICER, AND SIX BRANDED INITIATIVE PRESIDENT AND CEO POSITIONS (EIGHT TOTAL EXECUTIVE POSITIONS). THE MERCER REPORT INCLUDES RECOMMENDATIONS REGARDING CICP'S EXECUTIVE COMPENSATION PHILOSOPHY; ANALYSIS OF EACH INCUMBENT'S POSITION IN THE COMPETITIVE MARKET FOR EACH COMPONENT OF COMPENSATION ANALYZED; GUIDELINES FOR EXECUTIVE PAY POSITIONING BASED ON EXPERIENCE, PERFORMANCE, MARKET MOVEMENT, ETC.; A PREVALENCE ANALYSIS OF SUPPLEMENTAL BENEFITS AND PERQUISITES RECEIVED BY EXECUTIVES; AND RECOMMENDATIONS REGARDING EXECUTIVE COMPENSATION PROGRAM MODIFICATIONS IN ORDER TO INCREASE ALIGNMENT WITH CICP'S EXECUTIVE COMPENSATION PHILOSOPHY AND MARKET BEST PRACTICES. THE MERCER REPORT WAS ADOPTED BY THE CICP EXECUTIVE COMMITTEE AT ITS NOVEMBER 10, 2020, MEETING. SEVERAL KEY EMPLOYEES ARE REVIEWED BY THEIR RESPECTIVE EXECUTIVE COMMITTEES OR DESIGNATED SUBCOMMITTEES ON AN ANNUAL BASIS, INCLUDING 2022. IN 2020, THE EXECUTIVE COMMITTEE BOARD CHAIRS FOR ALL BRANDED INITIATIVES ENGAGED IN MERCER'S PROCESS TO PRODUCE A REPORT, SIMILAR TO THE DOCUMENT PREPARED FOR CICP'S CEO AND PRESIDENT/CFO, WHICH WAS APPROVED IN A MEETING OF THE BOARD CHAIRS ON NOVEMBER 2, 2020. EACH YEAR EACH KEY EMPLOYEE SUBMITS A WRITTEN SELF-ASSESSMENT TO THE APPROPRIATE COMMITTEE PRIOR TO THE MEETING AT WHICH COMPENSATION IS ADDRESSED. THE COMMITTEE RECEIVES A LIST OF COMPENSATION COMPARABLES FROM THE CICP PRESIDENT/CFO. THE LIST COMPARES EACH EMPLOYEE'S COMPENSATION AGAINST THAT OF OTHER EXECUTIVES IN SIMILAR POSITIONS IN OTHER ORGANIZATIONS, THE FINDINGS OF THE MERCER STUDY, AS WELL AS THE COMPENSATION HISTORY FOR THE INDIVIDUAL. AT THE MEETING, THE INDIVIDUAL MAY REVIEW THE SELF-ASSESSMENT WITH THE COMMITTEE. THE INFORMATION PROVIDED IS USED TO DETERMINE ANY COMPENSATION ADJUSTMENT TO BE MADE. THE CHAIRMAN OF THE REVIEWING COMMITTEE AND ONE OTHER MEMBER MEET WITH THE INDIVIDUAL AND REVIEW THE CONCLUSIONS OF THE GROUP REGARDING PERFORMANCE AND COMPENSATION ADJUSTMENT, IF ANY. THE COMPENSATION TERMS AND RESULTS OF THE MEETING ARE DOCUMENTED AND FORWARDED TO CICP'S PRESIDENT/CFO. THE DOCUMENTATION USUALLY REFLECTS (I) THE DATE ON WHICH THE COMPENSATION WAS APPROVED, (II) THE MEMBERS OF THE COMMITTEE WHO WERE PRESENT AND VOTED ON THE COMPENSATION TERMS, (III) THE COMPARABILITY DATA THAT WAS OBTAINED, REVIEWED, AND RELIED ON BY THE COMMITTEE (AND HOW THE DATA WAS OBTAINED AND USED), AND (IV) ANY RECUSAL OR WITHDRAWAL BY A MEMBER OF THE COMMITTEE WHO HAD A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION (THE LAST POINT IS AN UNLIKELY SCENARIO). |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART IX, LINE 5 - LINE 10 | SHARING OF PAID EMPLOYEES: CENTRAL INDIANA CORPORATE PARTNERSHIP, INC. (CICP) IS AFFILIATED WITH CICP FOUNDATION, INC., A 501(C)(3) CORPORATION;BC INITIATIVE, INC., (BCI), CLEANTECH SYSTEMS SOLUTIONS (CSS), TECHPOINT VENTURS (TPV), AND ASCEND INDIANA STRATEGIES (AIS), FOR PROFIT C CORPORATIONS. CICP EMPLOYS ALL WHO PROVIDE SERVICES ON BEHALF OF THE SIX ENTITIES. BASED ON INFORMATION PROVIDED BY CICP FOUNDATION, AIS, CSS, TPV, AND BCI; CICP ALLOCATES SALARY AND BENEFIT COSTS TO THE FOUNDATION, AIS, CSS, TPV, AND BCI; AND IS REGULARLY REIMBURSED FOR THOSE COSTS. CICP HAS A SHARED SERVICES AGREEMENT WITH CICP FOUNDATION. CICP EMPLOYEES MAY WORK ON PROGRAMS FUNDED THROUGH CICP FOUNDATION. IN MOST CASES THE TIME SPENT IS ALLOCATED TO CICP FOUNDATION AND REIMBURSED TO CICP. EMPLOYEE TIME SPENT ON FOR-PROFIT AFFILIATED ENTITIES IS ALWAYS REIMBURSED. |
| FORM 990, PART IX, LINE 24 | OTHER EXPENSES: AS DISCUSSED IN THE SCHEDULE O REFERENCE TO FORM 990, PART IX, LINE 5-LINE 10, CICP HAS A COMPENSATION AGREEMENT WITH CICP FOUNDATION, INC., ASCEND INDIANA STRATEGIES, , CLEANTECH SYTEMS SOLUTION, TECHPOINT VENTURES, AND BC INITIATIVE, INC. THE AMOUNT LISTED ON LINE 24D IS EXPRESSED AS A NEGATIVE DOLLAR VALUE AS IT REPRESENTS SALARY REIMBURSEMENT MADE TO CICP. BECAUSE THIS AMOUNT IS NOT A TRUE EXPENSE TO CICP, WE HAVE DETERMINED THE $-11,022,900 SHOULD NOT BE INCLUDED ON CICP'S FUNCTIONAL EXPENSE SALARY LINE, BUT BROKEN OUT ON PART IX, LINE 24D AS SHOWN. |
| FORM 990, PART XI, LINE 9: | TRANSFER OF INCOME PREVIOUSLY RECEIVED TO BIC RELATED TO DISSOLUTION OF ESN -1,556,277. BASIS OF ACCOUNTING: CICP CONSOLIDATED FINANCIAL STATEMENTS AND 990 RETURNS ARE PRESENTED ON A MODIFIED CASH BASIS OF ACCOUNTING, WHICH IS A BASIS OF ACCOUNTING OTHER THAN GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THE UNITED STATES OF AMERICA (GAAP) AS FOLLOWS: CICP RECOGNIZES CASH RECEIPTS THAT ARE DESIGNATED FOR CURRENT YEAR OPERATIONS WHEN RECEIVED. THUS, MULTI-YEAR PLEDGES ARE NOT RECORDED AS INCOME UNTIL THE CASH IS RECEIVED. CASH RECEIVED FOR MULTI-YEAR GRANTS IS RECORDED AS DEFERRED INCOME AND IS RECOGNIZED AS INCOME WHEN ASSOCIATED EXPENSES HAVE BEEN INCURRED. ACCOUNTING DIFFERS FROM GAAP FOR OPERATING LEASE RIGHT-OF-USE ASSETS OR LIABILITIES, COST OF INVESTMENTS AND COSTS ASSOCIATED WITH FURNITURE, FIXTURES AND EQUIPMENT. CONSISTENT WITH GAAP, EXPENSES ARE RECORDED AS THEY ARE INCURRED. |
| FORM 990, PART XII, LINE 2C | COMMITTEE OVERSIGHT OF AUDIT: THE EXECUTIVE COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT AUDITOR. AS REQUIRED BY CICP POLICIES AND UNDER THE DIRECTION OF THE CICP BOARD OF DIRECTORS, CICP INVITED FOUR FIRMS TO SUBMIT PROPOSALS PROVIDE AUDIT AND TAX SERVICES FOR 2021. AFTER REVIEW BY CICP MANAGEMENT AND THE CICP EXECUTIVE COMMITTEE, THERE WAS NO CHANGE FROM THE PREVIOUS YEAR. |
| FORM 990, PART XI, LINE 9 | IN JULY 2022, UPON APPROVAL BY THE EXECUTIVE COMMITTEE OF THE CICP BOARD OF DIRECTORS, CICP ANNOUNCED ESN BECAME AN OPERATING ENTITY UNDER THE BATTERY INNOVATION CENTER (BIC) WHICH WAS CREATED BY ESN IN 2010 TO ADVANCE INDIANA'S ABILITY TO DEVELOP, TEST, MANUFACTURE, AND COMMERCIALIZE BATTERY AND RELATED ENERGY SYSTEMS TECHNOLOGIES. BIC BECAME A SEPARATE ENTITY IN 2012 BUT HAS CONTINUED TO WORK CLOSELY WITH ESN IN DEVELOPING INDUSTRY-LED INITIATIVES THAT ARE ACCELERATING TECHNOLOGY DEVELOPMENT AND COMMERCIALIZATION THROUGH A BROAD GLOBAL NETWORK OF CORPORATE PARTNERS. THIS MOVE FOR ESN PROVIDES SEVERAL SYNERGIES AND EFFICIENCIES BETWEEN ESN AND THE BIC, ALLOWING FOR ADDITIONAL GLOBAL OPPORTUNITIES THAT WILL CONTINUE TO BOLSTER ECONOMIC DEVELOPMENT IN INDIANA. |
| SCHEDULE B, PART I | CICP FOUNDATION, INC. PROVIDED A GRANT TO CENTRAL INDIANA CORPORATE PARTNERSHIP, INC. (CICP) IN THE AMOUNT OF $78,500 IN 2022. THE GRANT IS RESTRICTED TO USE FOR EXEMPT PURPOSES IN SUPPORT OF CROSS SECTOR COLLABORATION BY CICP'S BRANDED INITIATIVES AND THE ANALTIXIN PROJECT. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2021
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