Windfall is a town in Wildcat Township, Tipton County, in the U.S. state of Indiana.

Fouch platted the land with the goal of securing a train station in order to earn business from the lucrative lumber trade.

[5] A Methodist church was organized in Windfall in 1857, with meetings taking place in a school house.

[7] There is no definitive history explaining how Windfall was named, but a niece of James B. Fouch told a local newspaper in 1949, “The story has been told to me that Windfall was named by my uncle after a terrific windstorm had swept through the village.”[8] The village was incorporated on March 24, 1871[9] by a unanimous vote of the people who had settled there.

In 1865, Noble Goff, a man once described as "respectable..but in later years had fallen into heavy dissipation and had made many enemies," was murdered with a hatchet while in bed.

[11] A few years later a man named Perry was killed in a local saloon over a game of cards.

Finally, the work of a suspected arson burned down a large brick drug store and the nearby home of Dr. McAlaster in 1883.

[6] From 1944 to 1945 Windfall was home to a World War II German POW camp, Windfall Indiana World War II POW Camp.

Windfall was the childhood home of Jeff Modisett, Indiana Attorney General (1997-2000).

According to the 2010 census, Windfall has a total area of 0.29 square miles (0.75 km2), all land.

28.3% of all households were made up of individuals, and 14.4% had someone living alone who was 65 years of age or older.

The racial makeup of the town was 99.30% White, 0.14% Native American, and 0.56% from two or more races.

Multiple storehouses were built by 1859, buying and selling products, including grain, to business via the railroad.

The Indian Union Traction Company supplied Windfall with electric lighting in 1913.