Civic Intelligence

Indiana Chamber of Commerce Inc

EIN 35-0411610 • 501(c)6 • Indianapolis, IN

Profile

To cultivate a world-class environment which provides economic opportunity and prosperity for the people of indiana and their enterprises. See schedule o.

115 W Washington St Ste 850SIndianapolis, IN 46204

www.indianachamber.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

91st percentile

0.73x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

82nd percentile

0.78x

Higher debt load relative to revenue than 82% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2025

Net Margin

34th percentile

0.1%

Higher net margin than 34% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

62nd percentile

$456,656

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

501(c)6 • $10M-$25M nonprofits • Source year 2025

Asset Growth

19th percentile

-2.9%

Faster asset growth than 19% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

11th percentile

-9.5%

Faster revenue growth than 11% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Assets

Down

$11,431,431

Down $342,380 (-2.9%) from 2024

Liabilities

Down

$8,331,884

Down $679,211 (-7.5%) from 2024

Net Assets

Up

$3,099,547

Up $336,831 (+12%) from 2024

Revenue

Down

$10,630,920

Down $1,112,926 (-9.5%) from 2024

Expenses

Down

$10,618,204

Down $2,113,273 (-17%) from 2024

Net Income

Up

$12,716

Up $1,000,347 (+101%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0-$5.0MAssets 2010: $6,207,975Liabilities 2010: $5,884,339Net Assets 2010: $323,6362010Assets 2011: $6,097,513Liabilities 2011: $6,431,523Net Assets 2011: -$334,0102011Assets 2012: $5,729,778Liabilities 2012: $5,774,144Net Assets 2012: -$44,3662012Assets 2013: $6,306,159Liabilities 2013: $3,684,584Net Assets 2013: $2,621,5752013Assets 2014: $6,889,055Liabilities 2014: $5,436,386Net Assets 2014: $1,452,6692014Assets 2015: $4,846,199Liabilities 2015: $3,398,339Net Assets 2015: $1,447,8602015Assets 2016: $5,155,782Liabilities 2016: $3,614,508Net Assets 2016: $1,541,2742016Assets 2017: $6,294,475Liabilities 2017: $4,322,255Net Assets 2017: $1,972,2202017Assets 2018: $5,775,659Liabilities 2018: $4,242,462Net Assets 2018: $1,533,1972018Assets 2019: $6,898,798Liabilities 2019: $5,090,514Net Assets 2019: $1,808,2842019Assets 2020: $6,779,381Liabilities 2020: $4,753,397Net Assets 2020: $2,025,9842020Assets 2021: $7,969,791Liabilities 2021: $4,319,008Net Assets 2021: $3,650,7832021Assets 2022: $7,894,910Liabilities 2022: $4,760,292Net Assets 2022: $3,134,6182022Assets 2023: $13,354,859Liabilities 2023: $10,152,860Net Assets 2023: $3,201,9992023Assets 2024: $11,773,811Liabilities 2024: $9,011,095Net Assets 2024: $2,762,7162024Assets 2025: $11,431,431Liabilities 2025: $8,331,884Net Assets 2025: $3,099,5472025

Highlighted filing

2025

Assets$11,431,431
Liabilities$8,331,884
Net Assets$3,099,547

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $7,599,8562010Expenses 2011: $7,445,6512011Expenses 2012: $7,894,0102012Expenses 2013: $7,972,4402013Revenue 2014: $7,947,183Expenses 2014: $7,610,907Net Income 2014: $336,2762014Revenue 2015: $8,666,346Expenses 2015: $8,036,104Net Income 2015: $630,2422015Revenue 2016: $8,424,131Expenses 2016: $8,269,808Net Income 2016: $154,3232016Revenue 2017: $8,639,627Expenses 2017: $8,393,953Net Income 2017: $245,6742017Revenue 2018: $8,862,943Expenses 2018: $8,943,303Net Income 2018: -$80,3602018Revenue 2019: $9,027,513Expenses 2019: $8,896,236Net Income 2019: $131,2772019Revenue 2020: $8,495,972Expenses 2020: $8,304,382Net Income 2020: $191,5902020Revenue 2021: $9,012,337Expenses 2021: $8,003,599Net Income 2021: $1,008,7382021Revenue 2022: $10,261,881Expenses 2022: $9,978,489Net Income 2022: $283,3922022Revenue 2023: $11,636,500Expenses 2023: $11,445,669Net Income 2023: $190,8312023Revenue 2024: $11,743,846Expenses 2024: $12,731,477Net Income 2024: -$987,6312024Revenue 2025: $10,630,920Expenses 2025: $10,618,204Net Income 2025: $12,7162025

Highlighted filing

2025

Revenue$10,630,920
Expenses$10,618,204
Net Income$12,716

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$11.4$8.33$3.10$10.6$10.6$0.01
2024Detailed filing. Detailed filing data is available for this year.$11.8$9.01$2.76$11.7$12.7$0.99
2023Detailed filing. Detailed filing data is available for this year.$13.4$10.2$3.20$11.6$11.4$0.19
2022Detailed filing. Detailed filing data is available for this year.$7.89$4.76$3.13$10.3$9.98$0.28
2021Detailed filing. Detailed filing data is available for this year.$7.97$4.32$3.65$9.01$8.00$1.01
2020Detailed filing. Detailed filing data is available for this year.$6.78$4.75$2.03$8.50$8.30$0.19
2019Detailed filing. Detailed filing data is available for this year.$6.90$5.09$1.81$9.03$8.90$0.13
2018Detailed filing. Detailed filing data is available for this year.$5.78$4.24$1.53$8.86$8.94$0.08
2017Detailed filing. Detailed filing data is available for this year.$6.29$4.32$1.97$8.64$8.39$0.25
2016Detailed filing. Detailed filing data is available for this year.$5.16$3.61$1.54$8.42$8.27$0.15
2015Detailed filing. Detailed filing data is available for this year.$4.85$3.40$1.45$8.67$8.04$0.63
2014Detailed filing. Detailed filing data is available for this year.$6.89$5.44$1.45$7.95$7.61$0.34
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.31$3.68$2.62$7.97
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.73$5.77$0.04$7.89
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.10$6.43$0.33$7.45
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.21$5.88$0.32$7.60
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Nov 1, 2024 to Oct 31, 2025
Signed
Feb 5, 2026
Return Version
2024v5.1
Gross Receipts
$11,742,797
Mission and Program Overview

Mission

To cultivate a world-class environment which provides economic opportunity and prosperity for the people of indiana and their enterprises. See schedule o.

Partner with 16,000 members & investors, 3 million hoosiers, to achieve the mission of cultivating a world-class environment which provides economic opportunity and prosperity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets$4,580,484$4,102,762▼ $477,722
Investments in Publicly Traded Securities$3,345,212$3,417,543▲ $72,331
Savings and Temporary Cash Investments$490,289$925,581▲ $435,292
Investments Other Securities$853,276$853,276→ $0
Accounts Receivable$1,027,375$844,250▼ $183,125
Land, Buildings, and Equipment, Net$1,004,862$707,820▼ $297,042
Prepaid Expenses and Deferred Charges$472,103$579,989▲ $107,886
Cash and Non-Interest-Bearing Accounts$210$210→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$11,773,811$11,431,431▼ $342,380
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$7,579,500$6,851,287▼ $728,213
Deferred Revenue$853,450$878,459▲ $25,009
Accounts Payable and Accrued Expenses$578,145$602,138▲ $23,993
Total Liabilities$9,011,095$8,331,884▼ $679,211
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,762,716$3,099,547▲ $336,831
Total Net Assets Fund Balance$2,762,716$3,099,547▲ $336,831
Total Liabilities and Net Assets / Fund Balance$11,773,811$11,431,431▼ $342,380

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$353,201$1,962,512$2,315,713
Leasehold Improvements$354,619$650,237$1,004,856
Other Securities$525,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Vanessa SindersPresident and CEOFT$373,901$82,755$456,656
Jennifer ElkinSr VP Marketing (end 5/10/24)FT$135,821$204,849$340,670
Jeff BrantleySr VP Political Affairs & FdnFT$210,478$43,786$254,264
Kevin BrinegarPresident and CEO (end 1/5/24)FT$8,704$237,831$246,535
Greg EllisVP Environmental & Energy (end 12/20/24)FT$160,069$56,364$216,433
Darla BarnettVP Finance and CFOFT$163,765$46,719$210,484
David OberSr VP Business Operations & FinanceFT$154,867$50,818$205,685
Rebecca PatrickSr VP CommunicationsFT$161,714$43,106$204,820
Jason BearceVP Education & Workforce Dev (end 12/13/24)FT$166,095$9,901$175,996
Jessica BrothersSr Director Business Education & Event PartnershipsFT$76,312$99,086$175,398
Brock HeslerVP Membership & Fdn Relations (end 5/10/24)FT$31,342$136,251$167,593
Adam BerryVP Economic Development & TechnologyFT$138,686$25,672$164,358

Board Members and Trustees

NameTitle
Melissa ProffittDirector, Chair
Scott BrandDirector, Vice Chair
Anne HathawayDirector
Bill BarrettDirector
Bill SoardsDirector
Brandt BurdickDirector
Chuck BaldwinDirector
Dennis MurphyDirector
Devin AndersonDirector
Gretchen GutmanDirector
Mario RodriguezDirector
Mark MilesDirector
Rachel OstingDirector
Scott MccorkleDirector
Stan PinegarDirector
Doug PetittDirector (start 11/1/24)
Kip ChaseDirector (start 11/1/24)
Mamon PowersDirector (start 11/1/24)
Phil BounsallDirector, Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$10,472,508
Investment Income
$158,412
Other Revenue
$0
Change in Net Assets
$12,716

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,630,920
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$356,246
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$10,987,166
Total Revenue per Form 990
$10,630,920
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,354,667
Other Expenses$4,263,537
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$4,200,944
Conferences and Meetings---$1,767,129
Current Officers, Directors, Trustees, and Key Employees---$1,077,645
Fees for Services Other---$683,544
Occupancy---$683,029
Other Employee Benefits---$563,776
Depreciation Depletion---$372,968
Payroll Taxes---$358,257
Fees for Services Accounting---$207,705
Information Technology---$171,627
Pension Plan Contributions---$154,045
Travel---$148,284
Office Expenses---$84,697
Advertising---$49,592
Other Expenses---$45,059
Insurance---$42,295
Fees for Services Lobbying---$7,608
Total Functional Expenses$0$0$0$10,618,204

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$10,650,335
Expenses per Audited Statements$10,618,204
Total Expenses per Form 990$10,618,204
Expenses Not Reported on Form 990$32,131
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Current Year Nondeductible Lobbying and Political Cost$432,641
Total Nondeductible Lobbying and Political Cost$311,908
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Unearned Dues$4,767,179
Federal Income Taxes$2,084,108
Lease Liability-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 4 Significant changes to organizational documents

Bylaws Amendment Approved on 11/13/2024: The Nominating Group (Chair, Vice Chair, Past Chair) with the President and CEO, puts forth an Executive Committee candidate slate to the Nominating Committee (vs. the Executive Committee). For Officer candidates, the Nominating Group, with the President and CEO, provides the slate to the Executive Committee. Compensation Committee Charter Amendment: Committee membership consists of the Nominating Group, Treasurer and an Executive Committee member. Replaces Nominating Group, Treasurer, IBRG Co-Chair and an ICC Board member.

Form 990, Part VI, Line 6 Classes of members or stockholders

The indiana chamber of commerce, inc. Is a not-for-profit corporation with members that receive benefits.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The 990 is reviewed in detail by the treasurer, the finance and audit committee, and an independent accounting firm prior to filing. In addition, a copy of the form 990 is emailed to full voting members of the board (executive committee) for their review prior to filing.

Form 990, Part VI, Line 12C Conflict of interest policy

A questionnaire is sent out annually to all officers, directors, and key employees to disclose personal and business relationships. The questionnaires are reviewed annually. If a conflict exists restrictions will be imposed on persons with a conflict such as prohibiting them from participating in the governing body's deliberations and decisions in the transactions.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The process for determining compensation of the ceo and key employees involves an annual review and approval from the compensation committee and the executive committee, as well as a compensation study. The compensation study is derived from outside third parties such as the us chamber of commerce, the american society of association executives, the council of state chambers and guidestar. The president's last compensation review was in december 2025 by the compensation committee.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

See above line 15A.

Form 990, Part VI, Line 19 Required documents available to the public

The organization makes its governing documents (bylaws) and conflict of interest policy available to the public on the indiana chamber of commerce website. Financial statements are available to the public upon request.

Form 990, Part VIII, Line 2F Other Program Service Revenue

Other Revenue - Total Revenue: 27500, Related or Exempt Function Revenue: 27500, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;

Filing and Contact Details

Filer

Filer Name
Indiana Chamber of Commerce Inc
EIN
35-0411610
Phone
3172643110
Address
115 W Washington St Ste 850S, Indianapolis, IN 46204

Signing Officer

Name
Vanessa Green Sinders
Title
President and CEO
Phone
3172643110
Signed
2026-02-05
Discuss with paid preparer
Yes

Organization Details

Formed
1922
Legal Domicile
In
Voting Board Members
19
Independent Board Members
19
Employees
61
Volunteers
438

Preparer

Firm
Forvis Mazars LLP
Address
820 Massachusetts Ave Suite 1370, Indianapolis, IN 46204
Preparer
Nicole Fishback
Phone
3173834000
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 1 ORGANIZATION'S MISSION

Summary of strategic key themes - align efforts around strategic priorities - leverage statewide footprint - fully utilize board of directors - further enhance membership participation and roi - increase collaboration on strategic issues statewide - advance knowledge of critical issues impacting indiana's economy - pursue and maintain a high level of trust

Financial Statement Notes

Schedule D, Part X ASC 740 DISCLOSURE

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0PARTNER WITH 16,000 MEMBERS & INVESTORS, 3 MILLION HOOSIERS, TO ACHIEVE THE MISSION OF CULTIVATING A WORLD-CLASS ENVIRONMENT WHICH PROVIDES ECONOMIC OPPORTUNITY AND PROSPERITY.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR, CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR, TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR, VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR (START 11/1/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR (START 11/1/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR (START 11/1/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19VP FINANCE AND CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt20PRESIDENT AND CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt21SR VP BUSINESS OPERATIONS & FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt22SR VP COMMUNICATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt23VP ECONOMIC DEVELOPMENT & TECHNOLOGY
IRS990/Form990PartVIISectionAGrp/TitleTxt24VP ENVIRONMENTAL & ENERGY (END 12/20/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt25VP EDUCATION & WORKFORCE DEV (END 12/13/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt26SR VP POLITICAL AFFAIRS & FDN
IRS990/Form990PartVIISectionAGrp/TitleTxt27SR DIRECTOR BUSINESS EDUCATION & EVENT PARTNERSHIPS
IRS990/Form990PartVIISectionAGrp/TitleTxt28VP MEMBERSHIP & FDN RELATIONS (END 5/10/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt29SR VP MARKETING (END 5/10/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt30PRESIDENT AND CEO (END 1/5/24)
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IRS990/MissionDesc0TO CULTIVATE A WORLD-CLASS ENVIRONMENT WHICH PROVIDES ECONOMIC OPPORTUNITY AND PROSPERITY FOR THE PEOPLE OF INDIANA AND THEIR ENTERPRISES. SEE SCHEDULE O.
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