Form990


Department of the TreasuryInternal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
A For the 2024 calendar year, or tax year beginning 05-01-2024 , and ending 04-30-2025
BCheck if applicable:
CName of organization
Terre Haute Area Economic Development
Corporation
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
900 Wabash Avenue Suite 200 200
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Terre Haute, IN47807
D Employer identification number

35-1529347
E Telephone number

G Gross receipts $ 803,805
F Name and address of principal officer:
Steve Witt
900 Wabash Avenue Suite 200 200
Terre Haute,IN47807
I
Tax-exempt status: ( 4 ) (insert no.) or
J
Website:
www.terrehauteedc.com
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. See instructions.
H(c)
Group exemption number  
K Form of organization:  
L Year of formation: 1965
M State of legal domicile: IN
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: To promote business growth and attract new business and industry to Terre Haute and Vigo County, Indiana.
2 Check this box
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 53
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 51
5 Total number of individuals employed in calendar year 2024 (Part V, line 2a) ...... 5 4
6 Total number of volunteers (estimate if necessary) ............. 6 0
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 0
b Net unrelated business taxable income from Form 990-T, Part I, line 11 ......... 7b 0
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 716,356 538,256
9 Program service revenue (Part VIII, line 2g) ......... 323,772 250,000
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 14,983 15,549
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 0 0
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 1,055,111 803,805
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 0 0
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 624,894 564,277
16a Professional fundraising fees (Part IX, column (A), line 11e) ..... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) 0    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 353,944 208,817
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 978,838 773,094
19 Revenue less expenses. Subtract line 18 from line 12....... 76,273 30,711
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 919,101 1,005,188
21 Total liabilities (Part X, line 26)............. 85,910 141,286
22 Net assets or fund balances. Subtract line 21 from line 20..... 833,191 863,902
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
Signature of officer Date
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name

Firm's EIN
Firm's address



Phone no.
May the IRS discuss this return with the preparer shown above? See Instructions. ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2024)
Form 990 (2024)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III..............
1
Briefly describe the organization’s mission: To promote business growth and attract new business and industry to Terre Haute and Vigo County, Indiana.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? .....................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ...........................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 686,607 including grants of $   ) (Revenue $   )
Overview of the Accomplishments of the Terre Haute Economic Development CorporationBelow are Highlights of the Terre Haute Economic Development Corporation's Activities for the 2024-2025 Fiscal Year*****ZINKPOWER Selects Vigo County for New $47 Million Hot-Dip Galvanizing FacilityWhat is corrosion? According to Wikipedia, "Corrosion is a natural process that converts a refined metal into a more chemically stable oxide. It is the gradual deterioration of materials (usually a metal) by chemical or electrochemical reaction with their environment." "Rusting, the formation of red-orange iron oxides, is a well-known example of electrochemical corrosion. This type of corrosion typically produces oxides or salts of the original metal and results in a distinctive coloration."Historical references to corrosion can be found as far back as the beginning of the first millennium. A Roman philosopher, Pliny (AD 23-79), wrote at length about ferrum corrumpitur or spoiled iron. More recently, in a textbook entitled, "Die chemische Behandlung der Rohstoffe" ("The chemical Treatment of Raw Materials"), published in 1877, it was stated, "The love that iron has for oxygen causes great suffering because of the rust it produces and because we hardly possess sufficient means to combat it." *While most of us typically look at corrosion as a relatively minor nuisance, in fact, the cost of corrosion to the global economy is staggering. It has been estimated that the global cost of corrosion is approximately $3.5 trillion annually, roughly 3.4% of annual global Gross Domestic Product.There are many examples where corrosion has led to significant economic cost and tragic loss of life. In 2018, a bridge collapsed in Genoa, Italy, resulting in the death of 43 people. According to the Global Resilience Institute at Northeastern University at the time, "Italian engineering experts have heavy suspicions that corrosion to the bridge's steel cables contributed to the collapse, saying that it decreased the bridge's overall strength by 20%"In December, 1999, a Maltese oil tanker broke in two while traveling near the coast of Brittany, France. Nearly 19,800 tons of oil were spilled. According to a group known as Corrosion Doctors, "In an inspection in Portland in July, 1994, holes were discovered in the main deck coaming, indicating that signs of corrosion were already in place more than five years before. It was also found that there were holes in both the portside and starboard inert gas system risers, which are critical items of safety equipment. There was yet more evidence of corrosion, with the ship's watertight doors not sealing properly and wasting on the door coamings."In Bhopal, India in December of 1984 - one of the world's largest industrial disasters occurred - resulting in the death of over 2,000 people. Corrosion caused two toxic gasses, coupled with a pesticide, to leak into the atmosphere from a pesticide plant. More specifically, there was the penetration of a large amount of water into a tank with over 40 tons of methyl isocyanate (MIC), which caused a chemical reaction, resulting in a rapid rise of pressure and water. Heat generated by the reaction - coupled with chloroform concentrations higher than normal - along with the presence of an iron catalyst caused by the corrosion of the stainless steel tank wall resulted in the opening of a safety valve. Subsequently, wind blew the resulting cloud of gas, exposing more than 500,000 people to the toxicity of the various ingredients, resulting in the loss of thousands of lives. (The official death toll was 2,259, but unofficial numbers were as high as 8,000.)So, corrosion (and the prevention thereof) is a very big deal, resulting in people dedicating their entire lives to preventing this naturally-occurring process, thus providing safety, commerce and increased quality of life to billions of people around the world. The creation of Germany-based ZINKPOWER is a classic entrepreneurial success story. Magda and Willi Kopf founded ZINKPOWER in a small, hot-dip galvanizing shop in Goppingen, Germany in 1973. Today, the company operates 50 facilities in 13 countries around the world. Each facility is dedicated to the prevention of metal corrosion, through hot-dip galvanizing, powder coating and other processes. Later in 2025, ZINKPOWER Terre Haute , LLC will commence operations as the newest facility within ZINKPOWER and the KOPF Group.We first spoke to representatives of ZINKPOWER in late 2018. In January, 2024, we received a call from Executive Vice-President Joe Langemeier stating that the company was ready to proceed with its Terre Haute/Vigo County project. After acquiring a project site from Great Dane Terre Haute (which will be ZINKPOWER Terre Haute's most significant customer), the company broke ground on its new facility on October 3, 2024.ZINKPOWER anticipates total investment in its new state-of-the-art hot-dip galvanizing facility of over $47 million, with $25.7 million being invested in real property (buildings) and $21.5 million in personal property (equipment). Approximately 100 new full-time jobs will be created by the new project. ZINKPOWER Terre Haute will be the company's fourth facility in the United States, joining sister plants in Texas, Oregon and Wisconsin.The Terre Haute Economic Development Corporation has worked closely with ZINKPOWER representatives (beginning in late 2018) in regard to the company's Terre Haute/Vigo County project. We are looking forward to the commencement of operations later this year. * Die chemische Behandlung der Rohstoffe passage courtesy of ZINKPOWER's website.Amazon Hub Delivery Center Opens in Vigo County Industrial Park IEarly December, 2024 brought the opening of one of Amazon's newest Hub Delivery Centers in the Vigo County Industrial Park I. At the February 13, 2024 meeting of the Vigo County Redevelopment Commission, it was revealed that Amazon would be constructing a "last-mile" Hub Delivery Center at the southwest corner of Industrial Drive and Carlisle Street in the Vigo County Industrial Park I. Construction commenced in earnest a few weeks later, with the facility opening just in time for the 2024 Christmas season. The new facility will serve Amazon customers within an approximate one-hour radius of the Vigo County Industrial Park.Amazon's Hub Delivery initiative was officially rolled-out by the company in July, 2023, thus our local facility was one of the first in the nation. In addition to Amazon's own employees (both full and part-time), Amazon will be partnering with small businesses and independent contractors to deliver packages as well. The total project employment at the new Vigo County facility will be approximately 200, about evenly divided between Amazon (both full and part-time) as well as private contractors (both full and part-time). Interestingly, Amazon's Hub Delivery program is especially keen in engaging existing local businesses as contractors for the delivery of packages. According to Amazon's website, this is how it works:Step 1 Each day, Amazon will deliver packages to the participating contracting business.Step 2 The contracting business' staff will deliver packages (within their area when they have time during the day).Step 3 The contracting business will get paid for every package that is delivered, thus providing another source of income to the business.Furthermore, Amazon's Hub Delivery business model makes it easy for a new contractor to get started as (a.) no delivery experience is required; (b.) there are no long-term contracts; (c.) the packages are delivered with the contracting business' existing staff and vehicles; (d.) the contractor is paid weekly via direct deposit and (e.) an Amazon app guides the contractor through each day's deliveries.The new Vigo County Industrial Park I Hub Delivery facility is 55,000 square feet in size, at a total investment of approximately $10.6 million. As of January, 2025, employment at the facility was nearly 100. This figure will grow over time, particularly later in 2025, when we, once again, approach the holiday season.The Terre Haute Economic Development Corporation commenced work with Amazon and its representatives on this project in August, 2023. ENTEK Construction Leaps Out of Starting Gate; Subsequently Slows Due to Federal Funding FreezeSeptember 6, 2023 brought the formal groundbreaking ceremony for ENTEK's new $1.5 billion lithium-ion battery separator facility, a facility that at full build-out will be approximately 1.6 million square feet in size and employ approximately 640 people.Continued at Schedule O
4b (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4c (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4d Other program services (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expenses686,607
Form 990 (2024)
Form 990 (2024)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule A.....................
1
 
No
2
Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. ...
2
 
No
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part IClick to see attachment
List of Attached Documents:
// Content
.............
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II.........
4
 
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Rev. Proc. 98-19? If "Yes," complete Schedule C, Part IIIClick to see attachment
List of Attached Documents:
// Content
..
5
Yes
 
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part IClick to see attachment
List of Attached Documents:
// Content
.........................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part IIClick to see attachment
List of Attached Documents:
// Content
....
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part IIIClick to see attachment
List of Attached Documents:
// Content
..............
8
 
No
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment
List of Attached Documents:
// Content
..............
9
 
No
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V......
10
 
No
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X, as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment
List of Attached Documents:
// Content
...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment
List of Attached Documents:
// Content
.......
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIIClick to see attachment
List of Attached Documents:
// Content
.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IXClick to see attachment
List of Attached Documents:
// Content
............
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11e
 
No
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11f
 
No
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XIIClick to see attachment
List of Attached Documents:
// Content
......................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
List of Attached Documents:
// Content
12b
 
No
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States? .....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV.........
14b
 
No
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV.....
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...
16
 
No
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions. ....
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.....
21
 
No
Form 990 (2024)
Form 990 (2024)
Page 4
Part IV
Checklist of Required Schedules (continued)
Yes
No
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........
22
 
No
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
List of Attached Documents:
// Content
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............
24c
 
 
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I .... Click to see attachment
List of Attached Documents:
// Content
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................Click to see attachment
List of Attached Documents:
// Content
25b
 
No
26
Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part IIClick to see attachment
List of Attached Documents:
// Content
...........
26
 
No
27
Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?
If "Yes," complete
Schedule L, Part IIIClick to see attachment
List of Attached Documents:
// Content
.........................
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................Click to see attachment
List of Attached Documents:
// Content
28a
Yes
 
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....Click to see attachment
List of Attached Documents:
// Content
28b
 
No
c
A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV.....................
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1.........................
34
 
No
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ...
35b
 
No
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2.............
36
 
 
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VI
37
 
No
38
Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........
Yes
No
1a
Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable ..
1a
3
b
Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
 
 
Form 990 (2024)
Form 990 (2024)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance (continued)
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
4
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
 
No
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
 
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..
4a
 
No
b
If "Yes," enter the name of the foreign country:
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................
7a
 
No
b
If "Yes," did the organization notify the donor of the value of the goods or services provided? .....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................
7c
 
No
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?
7e
 
 
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..
7f
 
 
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the sponsoring organization make any taxable distributions under section 4966?........
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
15
Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.
15
 
No
16
Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.
16
 
No
17
Section 501(c)(21) organizations. Did the trust, or any disqualified or other person engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.
17
 
 
Form 990 (2024)
Form 990 (2024)
Page 6
Part VI
Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
1a
53
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent
1b
51
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
Yes
 
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
Yes
 
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .......................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
 
No
b
Describe on Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
 
No
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
 
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe on Schedule O how this was done...................
12c
 
 
13
Did the organization have a written whistleblower policy? ...............
13
 
No
14
Did the organization have a written document retention and destruction policy? .........
14
 
No
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the states with which a copy of this Form 990 is required to be filed
IN
18
Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
Sackrider & Company Inc1925 Wabash Avenue   Terre Haute,IN47807 (812) 232-9492
Form 990 (2024)
Form 990 (2024)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See the instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (box 5 of Form W-2, box 6 of Form 1099-MISC, and/or box 1 of Form 1099-NEC) of more than $100,000 from the organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

See the instructions for the order in which to list the persons above.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) Claudia Tanoos......................................................................
Vice President
 40.00
.................
  		X   X       86,191 0 51,222
(2) Steve Witt......................................................................
President
 40.00
.................
  		X   X       142,190 0 67,033
(3) Mr Jeff Hogue......................................................................
Member
 1.00
.................
  		X           0 0 0
(4) Mrs Jennifer Isbell Scott......................................................................
Member
 1.00
.................
  		X           0 0 0
(5) Mr Larry Yargus......................................................................
Member
 1.00
.................
  		X           0 0 0
(6) Mayor Brandon Sakbun......................................................................
Member
 1.00
.................
  		X           0 0 0
(7) Mr Dave Pluckebaum......................................................................
Member
 1.00
.................
  		X           0 0 0
(8) Mr Tim Dora......................................................................
Member
 1.00
.................
  		X           0 0 0
(9) Mr Brian Dorsett......................................................................
Member
 1.00
.................
  		X           0 0 0
(10) Ms Casey Schroeppel......................................................................
Member
 1.00
.................
  		X           0 0 0
(11) Mr Steve Danielson......................................................................
Member
 1.00
.................
  		X           0 0 0
(12) Mr Jamie Amodeo......................................................................
Member
 1.00
.................
  		X           0 0 0
(13) Mr Norm D Lowery......................................................................
Member
 1.00
.................
  		X           0 0 0
(14) Mr Mark Unger......................................................................
Past Chairman
 1.00
.................
  		X   X       0 0 0
(15) Mr Mark Fuson......................................................................
Member
 1.00
.................
  		X           0 0 0
(16) Mr Pete Goda......................................................................
Member
 1.00
.................
  		X           0 0 0
(17) Mr Melvin Burks......................................................................
Member
 1.00
.................
  		X           0 0 0
Form 990 (2024)
Form 990 (2024)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) Mr Andy Hendricks........................................................................
Member
 1.00
.......................   		X           0 0 0
(19) Mr Luke Terry........................................................................
Member
 1.00
.......................   		X           0 0 0
(20) Mr David Baker........................................................................
Chairman Elect
 1.00
.......................   		X   X       0 0 0
(21) Dr Lea Anne Crooks........................................................................
Member
 1.00
.......................   		X           0 0 0
(22) Mr Terry Mace........................................................................
Member
 1.00
.......................   		X           0 0 0
(23) Mr Dan Gmelich........................................................................
Member
 1.00
.......................   		X           0 0 0
(24) Mr Jim Nichols........................................................................
Member
 1.00
.......................   		X           0 0 0
(25) Mr Kenny DePasse........................................................................
Member
 1.00
.......................   		X           0 0 0
(26) Mr Greg Gibson........................................................................
Chairman
 1.00
.......................   		X   X       0 0 0
(27) Mr Robert Coons........................................................................
Member
 1.00
.......................   		X           0 0 0
(28) Mr Brennan Randolph........................................................................
Member
 1.00
.......................   		X           0 0 0
(29) Mr Andy Volkl........................................................................
Member
 1.00
.......................   		X           0 0 0
(30) Mr Tom Denny........................................................................
Member
 1.00
.......................   		X           0 0 0
(31) Mr Roberto Bohrer........................................................................
Vice Chairman
 1.00
.......................   		X   X       0 0 0
(32) Mr Tyler Dinkel........................................................................
Member
 1.00
.......................   		X           0 0 0
(33) Mr David Templeton........................................................................
Secretary/Treasurer
 1.00
.......................   		X   X       0 0 0
(34) Ms Kristin Craig........................................................................
Member
 1.00
.......................   		X           0 0 0
(35) Ms Karen Dyer........................................................................
Member
 1.00
.......................   		X           0 0 0
(36) Mr Craig Maschino........................................................................
Member
 1.00
.......................   		X           0 0 0
(37) Mr Bart Colwell........................................................................
Member
 1.00
.......................   		X           0 0 0
(38) Mr Paul Thrift........................................................................
Member
 1.00
.......................   		X           0 0 0
(39) Mr Luciano Farias........................................................................
Member
 1.00
.......................   		X           0 0 0
(40) Mr Steven Holman........................................................................
Member
 1.00
.......................   		X           0 0 0
(41) Commissioner Chris Switzer........................................................................
Member
 1.00
.......................   		X           0 0 0
(42) Dr Christopher Himsel........................................................................
Member
 1.00
.......................   		X           0 0 0
(43) Ms Leslie Beard........................................................................
Member
 1.00
.......................   		X           0 0 0
(44) Ms Cassie Hoggatt........................................................................
Member
 1.00
.......................   		X           0 0 0
(45) Ms Jasmine Lows........................................................................
Member
 1.00
.......................   		X           0 0 0
(46) Mr Rob Riggins........................................................................
Member
 1.00
.......................   		X           0 0 0
(47) Mr John Collett........................................................................
Member
 1.00
.......................   		X           0 0 0
(48) Mr Lance Gassert........................................................................
Member
 1.00
.......................   		X           0 0 0
(49) Mr Cory R Lockebill........................................................................
Member
 1.00
.......................   		X           0 0 0
(50) Dr Michael Godard........................................................................
Member
 1.00
.......................   		X           0 0 0
(51) Mr Matthew Van Hosen........................................................................
Member
 1.00
.......................   		X           0 0 0
(52) Ms Ellie Caldwell........................................................................
Member
 1.00
.......................   		X           0 0 0
(53) Mr Clay Spangler........................................................................
Member
 1.00
.......................   		X           0 0 0
(54) Mr Jordan Orwig........................................................................
Member
 1.00
.......................   		X           0 0 0
(55) Mr Justin Jenkins........................................................................
Member
 1.00
.......................   		X           0 0 0
1b Sub-Total..............
c Total from continuation sheets to Part VII, Section A..
d Total (add lines 1b and 1c)......... 228,381 0 118,255
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 1
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 0
Form 990 (2024)
Form 990 (2024)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, Grants, and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues..1b 230,000
c Fundraising events..1c  
d Related organizations1d  
e Government grants (contributions)1e 308,256
f All other contributions, gifts, grants, and similar amounts not included above1f  
g Noncash contributions included in lines 1a - 1f:$ 1g  
h Total. Add lines 1a-1f....... 538,256
Program Service RevenueAmt Business Code
2a Marketing Services 541900 250,000 250,000    
b
c
d
e
f All other program service revenue.        
g Total. Add lines 2a–2f ..... 250,000
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ...... 15,549     15,549
4 Income from investment of tax-exempt bond proceeds        
5 Royalties...........        
(i) Real (ii) Personal
6a Gross rents 6a    
b Less: rental expenses 6b    
c Rental income or (loss) 6c    
d Net rental income or (loss).......        
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 7a    
b Less: cost or other basis and sales expenses 7b    
c Gain or (loss) 7c    
d Net gain or (loss).........        
8a Gross income from fundraising events (not including $   of contributions reported on line 1c). See Part IV, line 18 ....
8a  
b Less: direct expenses ... 8b  
c Net income or (loss) from fundraising events..      
9a Gross income from gaming activities.
See Part IV, line 19 ...
9a  
b Less: direct expenses ... 9b  
c Net income or (loss) from gaming activities..        
10a Gross sales of inventory, less
returns and allowances ..
10a  
b Less: cost of goods sold .. 10b  
c Net income or (loss) from sales of inventory..        
OtherRevenueMiscAmt
Business Code
11a            
b            
c            
d All other revenue ....        
e Total. Add lines 11a–11d ......  
12 Total revenue. See instructions..... 803,805 250,000 0 15,549
Form 990 (2024)
Form 990 (2024)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising
expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....    
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ...........    
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............    
4 Benefits paid to or for members .......    
5 Compensation of current officers, directors, trustees, and key employees ........... 346,637 311,973 34,664  
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........        
7 Other salaries and wages........ 142,524 128,272 14,252  
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 10,713 9,642 1,071  
9 Other employee benefits ....... 34,982 31,484 3,498  
10 Payroll taxes ........... 29,421 26,479 2,942  
11 Fees for services (non-employees):        
a Management ......        
b Legal .........        
c Accounting ........... 19,532   19,532  
d Lobbying ...........        
e Professional fundraising services. See Part IV, line 17    
f Investment management fees ......        
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)        
12 Advertising and promotion ....        
13 Office expenses ....... 7,202 6,482 720  
14 Information technology ...... 1,050 945 105  
15 Royalties ..        
16 Occupancy ........... 67,423 60,681 6,742  
17 Travel ............ 207 186 21  
18 Payments of travel or entertainment expenses for any federal, state, or local public officials .        
19 Conferences, conventions, and meetings .... 5,958 5,362 596  
20 Interest ...........        
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization .. 2,094 1,885 209  
23 Insurance ...        
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a MT Plan 56,302 56,302    
b Marketing General 27,693 27,693    
c Dues & Fees 20,657 18,592 2,065  
d Postage 699 629 70  
e All other expenses        
25 Total functional expenses. Add lines 1 through 24e 773,094 686,607 86,487 0
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).        
Form 990 (2024)
Form 990 (2024)
Page 11
Part X
Balance Sheet
Check if Schedule O contains a response or note to any line in this Part IX..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ........ 197,304 1 408,298
2 Savings and temporary cash investments ......... 428,908 2 448,305
3 Pledges and grants receivable, net ......   3  
4 Accounts receivable, net ............. 191,036 4 30,527
5 Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
  5  
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
  6  
7 Notes and loans receivable, net ...........   7  
8 Inventories for sale or use ............   8  
9 Prepaid expenses and deferred charges ......   9 14,635
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 75,200
b Less: accumulated depreciation 10b 73,290 2,453 10c 1,910
11 Investments—publicly traded securities .   11  
12 Investments—other securities. See Part IV, line 11 ..... 99,400 12 97,884
13 Investments—program-related. See Part IV, line 11 ..   13  
14 Intangible assets ...............   14  
15 Other assets. See Part IV, line 11 ........... 0 15 3,629
16 Total assets. Add lines 1 through 15 (must equal line 33)... 919,101 16 1,005,188
Liabilities 17 Accounts payable and accrued expenses ..... 5,910 17 41,286
18 Grants payable ...   18  
19 Deferred revenue ......... 80,000 19 100,000
20 Tax-exempt bond liabilities .........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D   21  
22 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
  22  
23 Secured mortgages and notes payable to unrelated third parties ..   23  
24 Unsecured notes and loans payable to unrelated third parties ..   24  
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D   25  
26 Total liabilities. Add lines 17 through 25.. 85,910 26 141,286
Net Assets or Fund Balance Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27 Net assets without donor restrictions .......... 833,191 27 863,902
28 Net assets with donor restrictions ...........   28  
Organizations that do not follow FASB ASC 958, check here right arrow and complete lines 29 through 33.
29 Capital stock or trust principal, or current funds .....   29  
30 Paid-in or capital surplus, or land, building or equipment fund ...   30  
31 Retained earnings, endowment, accumulated income, or other funds   31  
32 Total net assets or fund balances ........... 833,191 32 863,902
33 Total liabilities and net assets/fund balances ........ 919,101 33 1,005,188
Form 990 (2024)
Form 990 (2024)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
803,805
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
773,094
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
30,711
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
833,191
5
Net unrealized gains (losses) on investments ...............
5
 
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
0
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
863,902
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII.............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain on
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
 
No
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Uniform Guidance, 2 C.F.R. Part 200, Subpart F?
3a
 
No
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
 
 
Form 990 (2024)
Form 990 (2024)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE C
(Form 990)

Department of the Treasury
Internal Revenue Service
Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527

right arrow Complete if the organization is described below. right arrow Attach to Form 990 or Form 990-EZ.
right arrowGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public
Inspection
If the organization answered "Yes" on Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet Section 527 organizations: Complete Part I-A only.
If the organization answered "Yes" on Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B.
Round Bullet Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered "Yes" on Form 990, Part IV, Line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
Terre Haute Area Economic Development
Corporation
Employer identification number

35-1529347
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization’s direct and indirect political campaign activities in Part IV. See instructions for definition of “political campaign activities."

2
Political campaign activity expenditures. See instructions ....................................................................right arrow
$  
3
Volunteer hours for political campaign activities. See instructions ..................................................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 ................................right arrow
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 .......................right arrow
$  
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? .........................................
4a
Was a correction made? ......................................................................................................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c), except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities ..... right arrow
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ............................................................................................................................right arrow

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b...........right arrow

$  
4
Did the filing organization file Form 1120-POL for this year? ...................................................................
5
Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.
(a) Name (b) Address (c) EIN (d) Amount paid from filing organization's funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.
1
2
3
4
5
6
For Paperwork Reduction Act Notice, see the instructions for Form 990.
Cat. No. 50084S
Schedule C (Form 990) 2024

Schedule C (Form 990) 2024
Page 2
Part II-A
Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).
A Check right arrowexpenses, and share of excess lobbying expenditures).
B Check right arrow
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
organization's
totals 		(b) Affiliated group totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ......................    
b Total lobbying expenditures to influence a legislative body (direct lobbying) ........................    
c Total lobbying expenditures (add lines 1a and 1b) ............................................................    
d Other exempt purpose expenditures ...............................................................................    
e Total exempt purpose expenditures (add lines 1c and 1d) ..................................................    
f Lobbying nontaxable amount. Enter the amount from the following table in both
columns.		    
If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
Not over $500,00020% of the amount on line 1e.
Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
Over $17,000,000$1,000,000.
g Grassroots nontaxable amount (enter 25% of line 1f) .................................................    
h Subtract line 1g from line 1a. If zero or less, enter -0-. ................................................    
i Subtract line 1f from line 1c. If zero or less, enter -0-. ................................................    
j If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting
section 4911 tax for this year? ...................................................................................................................

4-Year Averaging Period Under Section 501(h)
(Some organizations that made a section 501(h) election do not have to complete all of the five
columns below. See the separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
Calendar year (or fiscal year
beginning in) 		(a) 2021 (b) 2022 (c) 2023 (d) 2024 (e) Total
2a Lobbying nontaxable amount          
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		 
c Total lobbying expenditures          
d Grassroots nontaxable amount          
e Grassroots ceiling amount
(150% of line 2d, column (e))		  
f Grassroots lobbying expenditures          
Schedule C (Form 990) 2024


Schedule C (Form 990) 2024
Page 3
Part II-B
Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).
For each "Yes" response on lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.
(a)
Yes
No
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? ...........................................................................................................
 
 
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ........
 
 
c
Media advertisements? ...................................................................................................
 
 
 
d
Mailings to members, legislators, or the public? .............................................................................
 
 
 
e
Publications, or published or broadcast statements? ...........................................................
 
 
 
f
Grants to other organizations for lobbying purposes? ..........................................................
 
 
 
g
Direct contact with legislators, their staffs, government officials, or a legislative body? .......................
 
 
 
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ..................
 
 
 
i
Other activities? ...................................................................................................................
 
 
 
j
Total. Add lines 1c through 1i ....................................................................................................
 
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
 
b
If "Yes," enter the amount of any tax incurred under section 4912 ...........................................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 ...................
 
d
If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? ........................
 
 
Part III-A
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).
Yes
No
1
Were substantially all (90% or more) dues received nondeductible by members? ...............................................
1
 
No
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ............................................
2
Yes
 
3
Did the organization agree to carry over lobbying and political expenditures from the prior year? .................................
3
 
No
Part III-B
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."
1
Dues, assessments and similar amounts from members ......................................................................
1
 
2
Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political expenses for which the section 527(f) tax was paid).
a
Current year .............................................................................................................................
2a
 
b
Carryover from last year ............................................................................................................
2b
 
c
Total ...........................................................................................................................................
2c
 
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
 
4
If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ......................................................................................................................
4
 
5
Taxable amount of lobbying and political expenditures. See Instructions .........................................
5
 
Part IV
Supplemental Information
Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.
Return Reference Explanation
Schedule C (Form 990) 2024


Additional Data


Software ID:  
Software Version:  

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
right arrow Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
right arrow Attach to Form 990.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
Terre Haute Area Economic Development
Corporation
Employer identification number

35-1529347
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ........    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ...................... 2a  
b Total acreage restricted by conservation easements .................... 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year right arrow  
4
Number of states where property subject to conservation easement is located right arrow  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow  
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1 .........................right arrow $  
(ii)
Assets included in Form 990, Part X ...............................right arrow $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1 ..........................right arrow $  
b
Assets included in Form 990, Part X ...............................right arrow $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b If "Yes," explain the arrangement in Part XIII and complete the following table: Amount
c Beginning balance ............................. 1c  
d Additions during the year ............................ 1d  
e Distributions during the year .......................... 1e  
f Ending balance ................................ 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a) Current year (b) Prior year (c) Two years back (d) Three years back (e) Four years back
1a Beginning of year balance ....          
b Contributions ...          
c Net investment earnings, gains, and losses          
d Grants or scholarships ...          
e Other expenditures for facilities
and programs ... 		         
f Administrative expenses ....          
g End of year balance ......          
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment right arrow  
b
Permanent endowment right arrow  
c
Term endowment right arrow  
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) Unrelated organizations .................
3a(i)
 
 
(ii) Related organizations .................
3a(ii)
 
 
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis
(investment) 		(b) Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .....      
b Buildings ....        
c Leasehold improvements        
d Equipment ....   33,473 31,563 1,910
e Other .....   41,727 41,727 0
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..right arrow 1,910
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 3
Part VII
Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1) Financial derivatives.........    
(2) Closely-held equity interests........    
(3) Other
(A) US T Note Due 5/21/25		 97,884 C
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)right arrow 97,884
Part VIII
Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)right arrow  
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........right arrow  
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
(1) Federal income taxes  








Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)right arrow  
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ........... 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1.................. 3  
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b.................... 4c  
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5  
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1  
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a  
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ........... 2d  
e Add lines 2a through 2d.................... 2e  
3 Subtract line 2e from line 1................... 3  
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b..................... 4c  
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5  
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
Schedule D (Form 990) (Rev. 1-2025)


Additional Data


Software ID:  
Software Version:  




Schedule J
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic Attach to Form 990.
medium right arrow graphic Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
Terre Haute Area Economic Development
Corporation
Employer identification number

35-1529347
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....
1b
 
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....
2
 
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? .............
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ....................
5a
 
No
b
Any related organization? .......................
5b
 
No
If "Yes," on line 5a or 5b, describe in Part III.
6
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ..................
6a
 
No
b
Any related organization? ......................
6b
 
No
If "Yes," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
No
8
Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................
8
 
No
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) (Rev. 1-2025)

Schedule J (Form 990) (Rev. 1-2025)
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column (B) reported as deferred on prior Form 990
(i) Base
compensation 		(ii) Bonus & incentive
compensation 		(iii) Other reportable compensation
1Steve Witt
President 		(i)

(ii)		 142,190
-------------
0 		0
-------------
0 		0
-------------
0 		10,634
-------------
0 		56,399
-------------
0 		209,223
-------------
0 		0
-------------
0
2Claudia Tanoos
Vice President 		(i)

(ii)		 86,191
-------------
0 		0
-------------
0 		0
-------------
0 		6,446
-------------
0 		44,776
-------------
0 		137,413
-------------
0 		0
-------------
0
Schedule J (Form 990) (Rev. 1-2025)

Schedule J (Form 990) (Rev. 1-2025)
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.
Return Reference Explanation
Schedule J (Form 990) (Rev. 1-2025)

Additional Data


Software ID:  
Software Version:  
Schedule L
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
Complete if the organization answered "Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c, or Form 990-EZ, Part V, line 38a or 40b.
Attach to Form 990 or Form 990-EZ.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
Terre Haute Area Economic Development
Corporation
Employer identification number

35-1529347
Part I
Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and section 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Relationship between disqualified person and organization (c) Description of transaction (d) Corrected?
Yes No
2
Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958. ........................... $
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ........ $
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22
(a) Name of interested person (b) Relationship with organization (c) Purpose of loan (d) Loan to or from the organization? (e) Original principal amount (f) Balance due (g) In default? (h) Approved by board or committee? (i) Written agreement?
To From Yes No Yes No Yes No
Total ............... $  
Part III
Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of assistance (d) Type of assistance (e) Purpose of assistance
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990) (Rev. 1-2025)
Schedule L (Form 990) (Rev. 1-2025)
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) Vigo County
  		Executive Committee Member - Chris Switzer 125,000 Marketing Services   No
(2) City of Terre Haute
  		Executive Committee Member - Brandon Sakbun 125,000 Marketing Services   No
Part V
Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).
Return Reference Explanation
Schedule L (Form 990) (Rev. 1-2025)


Additional Data


Software ID:  
Software Version:  




SCHEDULE O
(Form 990)
(Rev. January 2025)
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 instructions and the latest information.
OMB No. 1545-0047
Open to Public
Inspection
Name of the organization
Terre Haute Area Economic Development
Corporation
Employer identification number

35-1529347
Return Reference Explanation
Form 990, Part III, Line 4a It should be noted that ENTEK will be manufacturing battery separator material at its new facility currently under construction in the Vigo County Industrial Park II. Battery separators are a very important component of a battery, but it is not the entire battery. ENTEK's customers are battery manufacturers who incorporate ENTEK separators into the final battery product. With the above in mind, a bit of additional detail regarding battery separators is in order. A battery separator is a thin membrane (constructed of ultrahigh molecular weight polyethylene (UHMWPE) in the case of ENTEK separators) that contains "micropores" that are uniformly spread throughout the separator material. Placed between the cathode (positive electrode) and anode (negative electrode) of a battery, the separator prevents direct contact between the cathode and anode while also allowing the passage of ions (atoms that have lost or gained electrons and have become electrically charged) back and forth between the cathode and anode. As noted in last year's annual report, a large portion of the ENTEK project is being financed by the U.S. Department of Energy (DOE), with loan funds authorized by the Inflation Reduction Act (IRA). After a nearly two year application and review process, ENTEK achieved complete financial closure with the DOE on November 22, 2024. However, as we all know, President Trump upon taking office on January 20, 2025 issued an Executive Order freezing all Federal funding disbursements while the new administration has the opportunity to evaluate thousands of previous IRA grant awards, as well as other Federal funding outflows and programs. This Executive Order has caused ENTEK to temporarily slow its construction until the company's Federal DOE loan funds are, once again, released by the Department of Energy. The ENTEK team is quite optimistic that the hold on their particular DOE loan will be lifted in the very near future. ENTEK representatives have been working very closely with the DOE and the company's equity investors in this regard since Valentine's Day. ENTEK owns approximately 80% of the domestic market for the manufacture of lead acid battery separators. Regarding the lithium-ion separators that ENTEK will be manufacturing in Vigo County, the company's products will be used in nearly everything that utilizes a lithium-ion battery . . . everything from mobile phones to utility battery storage to electric vehicle batteries to all kinds of battery-powered tools and equipment. If a product contains a lithium-ion battery, chances are good that the battery will contain separator material manufactured by ENTEK. As demonstration of ENTEK's on-going work to remain the industry leader in battery separator technology, ENTEK received the 2024 BCI (Battery Council International) Innovation Award, ". . . for its solvent-free separator technology, providing a more environmentally friendly alternative that does not sacrifice strength or performance." In his comments regarding the BCI Innovation Award, Dr. Rick Pekala, Chief Technology Officer for ENTEK International, offered the following comments, "Innovation is a core value and centered in ENTEK's culture and passion for using material science expertise and technical capabilities to solve the industry's most complex challenges. ENTEK is developing technologies for the next generation of separator products to help our customers manage increasingly stringent regulatory and societal challenges for producing high performance energy storage products." The Terre Haute Economic Development Corporation has worked with ENTEK representatives regarding its new lithium-ion separator facility in the Vigo County Industrial Park II since October, 2022. We are looking forward to ENTEK's construction getting back to maximum speed in the very near future. The Rise of the AI Data Center According to the website Brittanica.com, "The earliest substantial work in the field of artificial intelligence (AI) was done in the mid 20th century by the British logician and computer pioneer Alan Mathison Turing. In 1935 Turing described an abstract computing machine consisting of a limitless memory and a scanner that moves back and forth through the memory, symbol by symbol, reading what it finds and writing further symbols. The actions of the scanner are dictated by a program of instructions that also is stored in the memory in the form of symbols. This is Turing's stored-program concept, and implicit in it is the possibility of the machine operating on, and so modifying or improving, its own program. Turing's conception is now known simply as the universal Turing machine. All modern computers are in essence universal Turing machines." Since the days of Alan Turning, artificial intelligence has both steadily and substantively moved forward. Fast forwarding to 2022, a generative artificial intelligence chatbot (note that a chatbot is a computer program that simulates and processes human conversation) developed by OpenAI, known as ChatGPT, burst on the scene. ChatGPT is credited with accelerating the AI boom, which has led to the rapid investment in and increased public knowledge of the field of artificial intelligence. To illustrate how rapidly the field of artificial intelligence is growing, several sources on the Internet indicate that by January 2023, ChatGPT had become one of the fastest-growing consumer software applications in history, gaining over 100 million users in two months. Furthermore, the release of ChatGPT has led to the release of a number of competing products, including Google's Gemini, Microsoft's Copilolt and xAI's Grok. (Note that xAI is Elon Musk's AI company.) As the use of artificial intelligence has made its way into the mainstream, an increased demand for AI data centers has arisen. Indiana has become something of a hotbed for AI data centers with Amazon, Google, Microsoft and Meta each announcing major data center investments in Indiana in the recent past with Amazon's announcement of an $11 billion investment (over the next ten years or so) in St. Joseph County being the largest. When reading about the criteria for data center selection (using the Indiana centers listed above as examples), one will read about tax incentives and a central geographic location as project drivers. While these two factors are certainly important, the top factor (that usually is not cited) is the near insatiable thirst for electric power that data centers require. A typical AI data center may require up to 1,000 megawatts of electric power roughly the equivalent of a good sized coal-fired power plant. Thus, it is imperative that data centers be within close proximity of significant electric power infrastructure. The demand for power to drive future data centers is such that the major data center players are discussing (and even) planning for their own dedicated sources of power for their data centers. In fact, Baltimore's Constellation Energy is in the process of bringing Unit 1 of the former Three Mile Island nuclear power station (Unit 1 was shut down in 2019) back on line by 2028 as part of a power purchase agreement with Microsoft to power future Microsoft data centers. Unsurprisingly, the Terre Haute Economic Development Corporation has fielded a number of data center project inquires in recent months. The inquires that we have received can be divided into two categories: the first being developers trying to secure a suitable site location, in hopes of wooing a data center client; the second being consultants who already have a data center client, thus the client is looking for a suitable data center location. The site criteria for today's data center (the investment in which can easily exceed $1 billion) are extremely strict. Generally speaking, the western side of Vigo County has existing power infrastructure required to accommodate a major data center. Of course, other factors go into such a project as well, so time will tell if Vigo County is ultimately selected for such a project.
Form 990, Part III, Line 4a Prepare and Advance Terre Haute (PATH) 2050 Metropolitan Transportation Plan The Terre Haute Metropolitan Planning Organization (MPO) serves the West Central Indiana Metropolitan Planning Area (MPA) that includes the City of Terre Haute, the Towns of Seelyville, Riley and West Terre Haute as well as the urbanized and rural portions of Vigo County. Metropolitan Planning Area boundaries are typically adjusted after each decennial census based on the urbanized area boundaries drawn by the U.S. Census Bureau. In our FY 2022-2023 Annual Report, we discussed the process for updating the 2045 Metropolitan Transportation Plan. The preparation and maintenance of a Metropolitan Transportation Plan (MTP) is one of the core functions of any MPO. Metropolitan Planning Organizations are charged with the development of a long-range transportation plan for the metropolitan area covering a planning horizon of at least twenty years. The MTP is designed to foster (1.) mobility and access for people and goods; (2.) efficient system performance and (3.) a positive quality of life for the citizens of the MPA. Terre Haute MPO Transportation Planning Director Jeremy Weir further advises that, "The MTP is the long-range transportation plan that guides planning, construction, operation and maintenance of the integrated, multi-modal transportation network in the MPA. It sets the regional transportation vision and priorities through a variety of principles and strategies, providing a foundation for all of the tasks and projects delineated in the Unified Planning Work Program (UPWP) and the Transportation Improvement Program (TIP). The MTP is reviewed and updated at least every four years in air quality nonattainment and maintenance areas and every five years in attainment areas." Work on the 2050 MTP commenced in March, 2023 (hence the "Prepare and Advance Terre Haute (PATH)" phraseology/acronym used to describe the work product during the planning and drafting process. As with any significant public planning initiative, public participation is a vital part of the MTP process. The MPO followed a four-step, public participation planning process in regard to the PATH 2050 Metropolitan Transportation Plan. Step 1 identified needs and challenges via the gathering of general ideas and issues from the public and stakeholders. Step 2 involved the distribution of surveys to define transportation needs and vision as well as the continued solicitation of broader public input. Various proposals, coupled with their potential benefits and drawbacks, came into play during this part of the process. Step 3 involved the release and evaluation of a draft document, including maps and implementation strategies, following the evaluation and prioritization of the various options. It is important to note that the evaluation and prioritization of various options follows the ranking of proposals/ideas to ensure the proposals resolve identified transportation challenges. Step 4 of the public participation aspect culminated in the development of implementation strategies via the creation of a process summary and timeline, as well as the identification of responsible parties and potential funding sources. Without question, the public participation aspect drove the PATH 2050 MTP planning process. As one can imagine, the entire MTP process is quite complex. Due to the complexity involved, the MPO Policy Committee sought proposals from professional transportation planning and engineering firms. Miami, Florida-based The Corradino Group was selected to provide professional planning assistance in regard to the process. More specifically, Dr. Johnny Han, PhD, PE and Technical Vice President of The Corradino Group guided MPO staff, various stakeholders and the public throughout the process. The Indiana Department of Transportation (INDOT) has provided its approval of the PATH 2050 MTP document. The 2050 Metropolitan TrPrepare and Advance Terre Haute (PATH) 2050 Metropolitan Transportation Plan The Terre Haute Metropolitan Planning Organization (MPO) serves the West Central Indiana Metropolitan Planning Area (MPA) that includes the City of Terre Haute, the Towns of Seelyville, Riley and West Terre Haute as well as the urbanized and rural portions of Vigo County. Metropolitan Planning Area boundaries are typically adjusted after each decennial census based on the urbanized area boundaries drawn by the U.S. Census Bureau. In our FY 2022-2023 Annual Report, we discussed the process for updating the 2045 Metropolitan Transportation Plan. The preparation and maintenance of a Metropolitan Transportation Plan (MTP) is one of the core functions of any MPO. Metropolitan Planning Organizations are charged with the development of a long-range transportation plan for the metropolitan area covering a planning horizon of at least twenty years. The MTP is designed to foster (1.) mobility and access for people and goods; (2.) efficient system performance and (3.) a positive quality of life for the citizens of the MPA. Terre Haute MPO Transportation Planning Director Jeremy Weir further advises that, "The MTP is the long-range transportation plan that guides planning, construction, operation and maintenance of the integrated, multi-modal transportation network in the MPA. It sets the regional transportation vision and priorities through a variety of principles and strategies, providing a foundation for all of the tasks and projects delineated in the Unified Planning Work Program (UPWP) and the Transportation Improvement Program (TIP). The MTP is reviewed and updated at least every four years in air quality nonattainment and maintenance areas and every five years in attainment areas." Work on the 2050 MTP commenced in March, 2023 (hence the "Prepare and Advance Terre Haute (PATH)" phraseology/acronym used to describe the work product during the planning and drafting process. As with any significant public planning initiative, public participation is a vital part of the MTP process. The MPO followed a four-step, public participation planning process in regard to the PATH 2050 Metropolitan Transportation Plan. Step 1 identified needs and challenges via the gathering of general ideas and issues from the public and stakeholders. Step 2 involved the distribution of surveys to define transportation needs and vision as well as the continued solicitation of broader public input. Various proposals, coupled with their potential benefits and drawbacks, came into play during this part of the process. Step 3 involved the release and evaluation of a draft document, including maps and implementation strategies, following the evaluation and prioritization of the various options. It is important to note that the evaluation and prioritization of various options follows the ranking of proposals/ideas to ensure the proposals resolve identified transportation challenges. Step 4 of the public participation aspect culminated in the development of implementation strategies via the creation of a process summary and timeline, as well as the identification of responsible parties and potential funding sources. Without question, the public participation aspect drove the PATH 2050 MTP planning process. As one can imagine, the entire MTP process is quite complex. Due to the complexity involved, the MPO Policy Committee sought proposals from professional transportation planning and engineering firms. Miami, Florida-based The Corradino Group was selected to provide professional planning assistance in regard to the process. More specifically, Dr. Johnny Han, PhD, PE and Technical Vice President of The Corradino Group guided MPO staff, various stakeholders and the public throughout the process. The Indiana Department of Transportation (INDOT) has provided its approval of the PATH 2050 MTP document. The 2050 Metropolitan Transportation Plan will become final once the MPO Policy Committee formally approves the plan at its May, 2025 meeting. The 2050 Metropolitan Transportation Plan can be found at the MPO's website, at this link: https://terrehautempo.com/plans-and-programs/metropolitan-transportation -plan The Terre Haute Metropolitan Transportation Organization has been housed at the Terre Haute Economic Development Corporation since July 1, 2021. Additional information on the MPO can be found at www.terrehautempo.com.
Form 990, Part VI, Section A, line 6 Line 6 explanation - Any person, association, corporation, partnership, foundation or legal entity having an interest in the objectives of the Corporation shall be eligible for one of the 4 classes of membership.
Form 990, Part VI, Section A, line 7a Line 7a explanation - All primary members are given one vote on matters that require a member vote.
Form 990, Part VI, Section B, line 11b Line 11b Explanation - The completed return was given to the executive committee for review before filing.
Form 990, Part VI, Section B, line 15 All other employee compensation adjustments occur during the annual budgeting process which includes significant Executive Committee involvement. The President's compensation is reviewed and revised by the Organization's Executive Committee. The Executive Committee includes members that have access to peer data. Minutes of Executive Committee document the discussion and decision.
Form 990, Part VI, Section C, line 19 The governing documents and financial statements are available upon request. These documents may be requested by contacting the corporation directly by e-mail or telephone, through their website, or from Sackrider & Company, Inc., where the records are held.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) (Rev. 1-2025)


Additional Data


Software ID:  
Software Version: