What's Going On in Indiana · claim EL1

Being chased: the bank record of the $25 million. Indiana Insight reports it was transferred on January 23, 2025 into the Growth Fund's blocker corporation before the reconciliation condition was met, on the strength of internal IEDC correspondence we have not seen. We are treating that as reported, not established, until IEDC's loan file or the public-records production shows the transfer, Elevate's 2024 Form 990 [F15] now shows a $15,445,645 prior-period adjustment and a Delaware corporation, 21 Fund Growth LLC, among its related organizations, but reports no transaction with it, so the return corroborates that money moved and does not show the transfer itself; and we still do not know where the roughly $52.5 million of returns sits today. The confirm paths are IEDC's loan records, the 21 Fund's annual report to the General Assembly, and the public records request.