Elevate Ventures Inc
Elevate Ventures' mission is growing the state's economy, driving economic development, helping businesses launch, grow and locate in the State of Indiana. We increase the amount of capital available to Indiana startup and early stage innovation driven companies to spur economic development through growth, research and development. IEDC has contracted with Elevate Ventures since 2011 to carry out the required tasks associated with making direct investments in private Indiana companies and the associated programming and technical support required to build a sufficient pipeline of investable companies and to support Indiana's entrepreneurial ecosystem.
Financial Overview
From 2024 IRS Form 990-PF
Total Assets
$28.2M
+135.1% YoY
Annual Giving
$898K
-34.9% YoY
Grant Count
8
-66.7% YoY
Avg Grant Size
$112K
+95.3% YoY
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Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $28,187,603 | $11,990,431 | $13,172,198 |
| Revenue | $9,243,556 | $9,960,751 | $6,491,355 |
| Expenses | $10,820,838 | $11,621,084 | $7,979,642 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $273,244 | $235,897 | $183,539 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2024
Grant Size Distribution
99 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Who else does Elevate Ventures Inc fund?
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Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Christopher Day | Chief Executive Officer | 6 | $449,218 |
| Phillip Lodato | GENERAL COUNSEL, CHIEF COMPLIANCE OFFICER, AND SECRETARY | 4 | $297,552 |
| Robert Myer | Board Chair | 1 | — |
| Barbie Wentworth | Board Member | 1 | — |
| Don Densborn | Board Member | 1 | — |
| John Sampson | Board Member | 1 | — |
| Larry Garatoni | Board Member | 1 | — |
| Steve Martin | Board Member | 1 | — |
| Christopher Huxhold | VP Finance and Treasurer Starting April 2024 | 6 | $149,992 |
| Matthew Tyner | Managing Partner | 6 | $384,233 |
| Asa Kelly | Vice President, Systems and IT | 4 | $223,006 |
| Erica Schweyer | Chief of Staff | 6 | $264,435 |
| Jacob Schpok | Partner | 6 | $259,156 |
| Myles Grote | Partner | 4 | $241,203 |
| Nicholas Kuhn | Vice President | — | $181,404 |
| BARBARA UGGEN-DAVIS | FORMER CHIEF FINANCIAL OFFICER | — | $101,828 |
Geographic Focus
Where this funder has awarded grants
Grant Distribution by State
Cities
Data last updated March 2026. Sourced from IRS Form 990-PF filings.
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