MILWAUKEE ECONOMIC DEVELOPMENT CORP: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- MILWAUKEE ECONOMIC DEVELOPMENT CORP (EIN 23-7129398)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-14
- IRS object ID
- 202433199349306568
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-14T11:08:34-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 390859910 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BAKER TILLY ADVISORY GROUP LP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 790 N WATER ST SUITE 2000 | AddressLine1Txt |
| City | MILWAUKEE | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 237129398 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MILWAUKEE ECONOMIC DEVELOPMENT | BusinessNameLine1Txt |
| Business Name Line2 | CORPORATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MILW | BusinessNameControlTxt |
| Phone | 4142691440 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 757 NORTH BROADWAY 600 | AddressLine1Txt |
| City | MILWAUKEE | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53202 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DAVID E LATONA | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 4142691440 | PhoneNum |
| Signature | 2024-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | TROY MARINE CPA | PreparerPersonNm |
| PTIN | P00187863 | PTIN |
| Phone | 4147775500 | PhoneNum |
| Preparation | 2024-11-13 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DAVID E LATONA | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 757 NORTH BROADWAY 600 | AddressLine1Txt |
| City | MILWAUKEE | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $5,024,369 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.MEDCONLINE.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1971 | FormationYr |
| Legal Domicile State | WI | LegalDomicileStateCd |
| Activity Or Mission | MEDC PROVIDES GAP FINANCING TO BUSINESSES IN ORDER TO CREATE EMPLOYMENT OPPORTUNITIES AND INCREASE LOCAL INCOMES THROUGH THE RETENTION, EXPANSION AND DEVELOPMENT OF MANUFACTURING, SERVICE AND OTHER COMMERCIAL ESTABLISHMENTS LOCATED IN MILWAUKEE, WAUKESHA, WASHINGTON, WALWORTH, RACINE, KENOSHA AND OZAUKEE COUNTIES (COLLECTIVELY M7 REGION). | ActivityOrMissionDesc |
| Voting Members Governing Body | 25 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 24 | VotingMembersIndependentCnt |
| Total Employee | 15 | TotalEmployeeCnt |
| Total Volunteers | 24 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $3,586,421 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $3,675,679 | CYProgramServiceRevenueAmt |
| PY Investment Income | $457,351 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,342,180 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $6,510 | CYOtherRevenueAmt |
| PY Total Revenue | $4,043,772 | PYTotalRevenueAmt |
| CY Total Revenue | $5,024,369 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,848,454 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,825,387 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,046,995 | PYOtherExpensesAmt |
| CY Other Expenses | $3,330,713 | CYOtherExpensesAmt |
| PY Total Expenses | $3,895,449 | PYTotalExpensesAmt |
| CY Total Expenses | $5,156,100 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $148,323 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$131,731 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $134,203,800 | TotalAssetsBOYAmt |
| Total Assets EOY | $133,022,594 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $40,101,532 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $46,441,388 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $94,102,268 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $86,581,206 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | MEDC PROVIDES GAP FINANCING TO BUSINESSES IN ORDER TO CREATE EMPLOYMENT OPPORTUNITIES AND INCREASE LOCAL INCOMES THROUGH THE RETENTION, EXPANSION AND DEVELOPMENT OF MANUFACTURING, SERVICE AND OTHER COMMERCIAL ESTABLISHMENTS LOCATED IN MILWAUKEE, WAUKESHA, WASHINGTON, WALWORTH, RACINE, KENOSHA AND OZAUKEE COUNTIES (COLLECTIVELY M7 REGION). | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $4,400,861 | ExpenseAmt |
| Revenue | $3,485,935 | RevenueAmt |
| Desc | LENDING: MEDC PROVIDES GAP LOANS AT BELOW MARKET INTEREST RATES TO MILWAUKEE AREA BUSINESSES. MOST TIMES THERE IS A PARTNER BANK WHICH PROVIDES SOME OF THE PROJECT FINANCING. MEDC'S APPROACH TO LENDING REVOLVES AROUND TWO FUNDAMENTAL PRINCIPLES: SHARING RISK WITH ALL PARTICIPANTS IN A PROJECT AND PROVIDE LOANS WHERE THERE IS A GAP BETWEEN AVAILABLE DEBT AND EQUITY. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $189,744 | ExpenseAmt |
| Revenue | $189,744 | RevenueAmt |
| Desc | MEDC PROVIDED GRANT REVIEW SERVICES TO THE MILWAUKEE DEVELOPMENT CORPORATION FOR A PROGRAM IT WAS RUNNING FOR THE WEDC, THE WI TOMORROW MAIN STREET BOUNCEBACK GRANT. MEDC PROVIDED SERVICES OF GRANT REVIEW, PAYMENT PROCESSING. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $4,590,605 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 832 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 15 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 25 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 24 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DAVID E LATONA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 4142691445 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 757 NORTH BROADWAY SUITE 600 | AddressLine1Txt |
| City | MILWAUKEE | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53202 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (29 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| DAVID LATONA | |||||||
| PRESIDENT & SECRETARY | 40.00 | Yes (X) | Yes (X) | $273,583 | $0 | $46,056 | |
| THOMAS O'NEILL | |||||||
| CHAIRMAN | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| AMELIA MACARENO | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| ANDY MELVIN | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CAVALIER JOHNSON | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CRAIG SCHMUTZER | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| D PATRICK O'BRIEN | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DEBRA KESSLAR | |||||||
| DIRECTOR (TERM 08/2023) | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DR EVE HALL | |||||||
| DIRECTOR (TERM 08/2023) | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| GINA STILP | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| GREG BAUER | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| IVAN GAMBOA | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMES ROEMER | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JOHN HAZOD | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JOHN ZANGHI | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| KELSEY BRENN | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| KENNETH ROBERTSON | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL MURPHY | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| NATE ZASTROW | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| PAUL KLEINER | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| PERFECTO RIVERA | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| REBECCA MITICH | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| SARAH LUTZ | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| STEVE BARTH | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| THOMAS ZALE | |||||||
| DIRECTOR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| TOM FOTSCH | |||||||
| DIRECTOR (START 04/2023) | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| WILLIAM FEAGLES | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JOHN MILLER | |||||||
| VICE PRESIDENT & TREASURER | 40.00 | Yes (X) | $204,005 | $0 | $36,166 | ||
| SUSAN EICK | |||||||
| RELATIONSHIP MANAGER | 40.00 | $105,554 | $0 | $16,700 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $583,142 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $98,922 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 3 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DAVIS & KUELTHAU SC | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 E KILBOURN AVENUE | AddressLine1Txt |
| City | MILWAUKEE | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | LEGAL | ServicesDesc |
| Compensation | $222,397 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN INTEREST | 900099 | $3,485,935 | $3,485,935 |
| MGMT & SERVICE FEES | 900099 | $189,744 | $189,744 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $3,675,679 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,342,180 | TotalRevenueColumnAmt |
| Exclusion | $1,342,180 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS INCOME | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $6,510 | TotalRevenueColumnAmt |
| Exclusion | $6,510 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $6,510 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,024,369 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,675,679 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,348,690 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $559,809 | TotalAmt |
| Program Services | $503,831 | ProgramServicesAmt |
| Management And General | $55,978 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $761,206 | TotalAmt |
| Program Services | $685,089 | ProgramServicesAmt |
| Management And General | $76,117 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $99,308 | TotalAmt |
| Program Services | $89,377 | ProgramServicesAmt |
| Management And General | $9,931 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $320,952 | TotalAmt |
| Program Services | $288,857 | ProgramServicesAmt |
| Management And General | $32,095 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $84,112 | TotalAmt |
| Program Services | $75,701 | ProgramServicesAmt |
| Management And General | $8,411 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $71,047 | TotalAmt |
| Management And General | $71,047 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $112,534 | TotalAmt |
| Management And General | $112,534 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $120,776 | TotalAmt |
| Management And General | $120,776 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $41,894 | TotalAmt |
| Program Services | $41,894 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $726,477 | TotalAmt |
| Program Services | $653,829 | ProgramServicesAmt |
| Management And General | $72,648 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $404,957 | TotalAmt |
| Program Services | $404,957 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $59,581 | TotalAmt |
| Program Services | $53,623 | ProgramServicesAmt |
| Management And General | $5,958 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $88,540 | TotalAmt |
| Program Services | $88,540 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | LOAN LOSS PROVISION | Desc |
| Total | $1,704,907 | TotalAmt |
| Program Services | $1,704,907 | ProgramServicesAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,156,100 | TotalAmt |
| Program Services | $4,590,605 | ProgramServicesAmt |
| Management And General | $565,495 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,194,643 | BOYAmt |
| EOY | $19,493,690 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,313,242 | BOYAmt |
| EOY | $13,357,347 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $166,802 | BOYAmt |
| EOY | $11,291 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $80,862,533 | BOYAmt |
| EOY | $93,934,161 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $588,925 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $504,937 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $143,569 | BOYAmt |
| EOY | $83,988 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $117,000 | BOYAmt |
| EOY | $89,000 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,406,011 | BOYAmt |
| EOY | $6,053,117 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $134,203,800 | BOYAmt |
| EOY | $133,022,594 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,931,807 | BOYAmt |
| EOY | $15,558,255 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,509,901 | BOYAmt |
| EOY | $28,193,087 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,659,824 | BOYAmt |
| EOY | $2,690,046 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $40,101,532 | BOYAmt |
| EOY | $46,441,388 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $84,981,452 | BOYAmt |
| EOY | $75,824,592 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,120,816 | BOYAmt |
| EOY | $10,756,614 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $94,102,268 | BOYAmt |
| EOY | $86,581,206 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $134,203,800 | BOYAmt |
| EOY | $133,022,594 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$131,731 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$7,389,331 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $225,600 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $282,587 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $508,187 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,496,726 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $4,081,155 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,052,735 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,586,421 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,675,679 | CurrentTaxYearAmt |
| Total | $19,892,716 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,496,726 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $4,306,755 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,335,322 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,586,421 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,675,679 | CurrentTaxYearAmt |
| Total | $20,400,903 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $20,400,903 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $271,063 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $382,266 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $171,791 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $457,351 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,342,180 | CurrentTaxYearAmt |
| Total | $2,624,651 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $271,063 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $382,266 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $171,791 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $457,351 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,342,180 | CurrentTaxYearAmt |
| Total | $2,624,651 | TotalAmt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | $6,510 | CurrentTaxYearAmt |
| Total | $6,510 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,767,789 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $4,689,021 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,507,113 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $4,043,772 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,024,369 | CurrentTaxYearAmt |
| Total | $23,032,064 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.88580 | PublicSupportCY509Pct |
| Public Support PY509 | 0.93980 | PublicSupportPY509Pct |
| Investment Income CY | 0.11400 | InvestmentIncomeCYPct |
| Investment Income PY | 0.06020 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | Yes (1) | AgentTrusteeEtcInd |
| Beginning Balance | $196,142 | BeginningBalanceAmt |
| Additions During Year | $599,542 | AdditionsDuringYearAmt |
| Distributions During Year | $732,037 | DistributionsDuringYearAmt |
| Ending Balance | $63,647 | EndingBalanceAmt |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $235,560 | OtherCostOrOtherBasisAmt |
| Depreciation | $211,087 | DepreciationAmt |
| Book Value | $24,473 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $208,243 | OtherCostOrOtherBasisAmt |
| Depreciation | $174,898 | DepreciationAmt |
| Book Value | $33,345 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $145,122 | OtherCostOrOtherBasisAmt |
| Depreciation | $118,952 | DepreciationAmt |
| Book Value | $26,170 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $83,988 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | CAP ACCESS BANK LOAN LOSS RESERVE | Desc |
| Amt | $2,690,046 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,690,046 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | WRITTEN AGREEMENT WITH VARIOUS CUSTOMERS, ESCROW AMOUNTS ARE GENERALLY COLLECTED MONTHLY IN ORDER TO PAY REAL ESTATE TAXES AS A CONDITION OF THE LOANS. |
| PART X, LINE 2: | THE CORPORATION IS AN EXEMPT ORGANIZATION FOR INCOME TAX PURPOSES UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE (IRC). HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE CORPORATION IS ALSO EXEMPT FROM STATE INCOME TAXES. THE AFFILIATES HAVE ELECTED TO BE TREATED AS PASS-THROUGH ENTITIES FOR INCOME TAX PURPOSES AND, AS SUCH, ARE NOT SUBJECT TO INCOME TAXES. RATHER, ALL ITEMS OF TAXABLE INCOME, DEDUCTIONS AND TAX CREDITS ARE PASSED THROUGH TO AND ARE REPORTED BY THEIR OWNERS ON THEIR RESPECTIVE INCOME TAX RETURNS. THE AFFILIATES' FEDERAL TAX STATUS AS PASS-THROUGH ENTITIES ARE BASED ON THEIR LEGAL STATUS AS LIMITED LIABILITY COMPANIES. ACCORDINGLY, THE AFFILIATES ARE NOT REQUIRED TO TAKE ANY POSITIONS IN ORDER TO QUALIFY AS A PASS-THROUGH ENTITY. THE AFFILIATES ARE REQUIRED TO FILE AND DO FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THERE ARE NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. THERE ARE NO UNCERTAIN TAX POSITIONS FOR THE CORPORATION. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DAVID LATONA | ||||||||||||||
| PRESIDENT & SECRETARY | $214,993 | $0 | $0 | $0 | $58,590 | $0 | $16,817 | $0 | $29,239 | $0 | $319,639 | $0 | $0 | $0 |
| JOHN MILLER | ||||||||||||||
| VICE PRESIDENT & TREASURER | $181,505 | $0 | $0 | $0 | $22,500 | $0 | $12,550 | $0 | $23,616 | $0 | $240,171 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1A | THE EXECUTIVE COMMITTEE, COMPRISED OF 11 DIRECTORS OF THE ORGANIZATION, HAS FULL GOVERNING AUTHORITY OVER THE ORGANIZATION. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE ORGANIZATION HAS FOUR CLASSES OF DIRECTORS. THE CLASS I AND II DIRECTORS COMPRISE 9 OF 11 SEATS ON THE EXECUTIVE COMMITTEE. THE LAST TWO SEATS OF THE EXECUTIVE COMMITTEE CONSIST OF CLASS III DIRECTORS. THE 11 MEMBER EXECUTIVE COMMITTEE ELECTS ALL DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 11B | A COPY OF THE FORM 990 IS REVIEWED BY MANAGEMENT PRIOR TO FILING. ALL DIRECTORS ARE MADE AWARE THAT A FILED COPY OF THE FORM 990 IS AVAILABLE TO ALL DIRECTORS FOR REVIEW UPON REQUEST. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL DIRECTORS AND STAFF MUST REVIEW AND SIGN THE CONFLICT POLICY. CONFLICTS MUST BE DISCLOSED IMMEDIATELY TO THE PRESIDENT AND/OR THE CHAIR. FORMS ARE UPDATED BY STAFF ANNUALLY, BY THE DIRECTORS AT THE RENEWAL OF THEIR TERM. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE CORPORATION PERIODICALLY ENGAGES AN OUTSIDE CONSULTING FIRM, MRA, TO REVIEW JOB DESCRIPTIONS FOR ALL POSITIONS AND COMPARE COMPENSATION AND BENEFITS WITH PUBLISHED AND UNPUBLISHED SALARY AND BENEFIT SURVEYS. PAY RANGES AND BENEFITS ARE ESTABLISHED AND ADJUSTED USING THIS MARKET INFORMATION. THIS PROCESS WAS LAST COMPLETED IN 2023/2024. THE CORPORATION ALSO HAS A COMPENSATION COMMITTEE CONSISTING OF DIRECTORS WHICH REVIEWS THE MRA FINDINGS, COMPENSATION AND BENEFITS. |
| FORM 990, PART VI, SECTION C, LINE 19 | SUMMARY FINANCIAL INFORMATION IS PUBLISHED IN OUR ANNUAL REPORT. THE ANNUAL REPORT, FINANCIAL REPORTS AND POLICIES ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | PARTNERSHIP DISTRIBUTIONS 1,161,919. LOSS ON FORGIVENESS OF NOTE RECEIVABLE -8,551,250. |
| FORM 990, PART XII, LINE 2C: | NO CHANGES HAVE BEEN MADE FROM THE PRIOR YEAR. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| SH ACQUISITION LLC | |||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 453915994 | REAL ESTATE | WI | $0 | $3,685,209 | MEDC |
| MEDC CAPITAL FUND VIII LLC | |||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 943451040 | LENDING | WI | $54,483 | $1,246,117 | MEDC |
| MEDC CAPITAL FUND X LLC | |||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 462672187 | LENDING | WI | $94,035 | $1,744,927 | MEDC |
| MEDC CAPITAL FUND XI LLC | |||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 462677663 | LENDING | WI | $242,872 | $9,073,717 | MEDC |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Direct Controlling NADirectControllingNACd | Predominant Income TypePredominantIncomeTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | Disproportionate AllocationsDisproportionateAllocationsInd | General Or Managing PartnerGeneralOrManagingPartnerInd | OwnershipOwnershipPct |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LCM FUNDS PITTSBURGH LLC | |||||||||||||
| 330 E KILBOURN AVE SUITE 838 | MILWAUKEE | WI | 53202 | 461923498 | REAL ESTATE | WI | N/A | RELATED | $42,329 | $728,932 | 0 | Yes (1) | 0.10000 |
| YANKEE HILL HOUSING PARTNERS | |||||||||||||
| 2 SCIENCE COURT | MADISON | WI | 53711 | 391521328 | REAL ESTATE | WI | N/A | RELATED | $848,090 | $4,455,604 | 0 | Yes (1) | 0.48510 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |