2025-05-06T15:47:53-05:00 2024-12-31 390919055 RITZ HOLMAN LLP 330 E KILBOURN AVE SUITE 222 MILWAUKEE WI 53202 990 2024-01-01 930846583 RACINE COUNTY ECONOMIC DEVELOPMENT CORPORATION RACI 2628987424 2320 RENAISSANCE BLVD STURTEVANT WI 53177 WESLEY RICCHIO PRESIDENT 2628987424 2025-05-06 1 0 DIANA G LUTTMANN P01075770 4142711451 2025-05-06 2024 2025-03-06 01:10:19Z WESLEY RICCHIO 2320 RENAISSANCE BLVD STURTEVANT WI 53177 2044677 0 X WWW.RACINECOUNTYEDC.ORG X 1983 WI ECONOMIC DEVELOPMENT SERVICES INCLUDING BUSINESS RECRUITMENT, EXPANSION, AND FINANCING. 11 11 13 59 0 0 1523154 981540 964086 934353 82539 107242 7928 2500 2577707 2025635 122911 90483 0 0 1278526 1393556 0 0 31089 618784 642201 2020221 2126240 557486 -100605 13068523 13581008 1393394 2006484 11675129 11574524 TO PROVIDE ECONOMIC DEVELOPMENT SERVICES INCLUDING BUSINESS RECRUITMENT, EXPANSION, BUSINESS FINANCING, COMMUNITY AND WORKFORCE DEVELOPMENT. 0 0 1183120 89145 891680 BUSINESS FINANCE: MANAGES A NUMBER OF GOVERNMENT AND QUASI-GOVERNMENT BUSINESS FINANCING PROGRAMS THAT PROVIDE LOW-INTEREST LOANS TO RACINE COUNTY BUSINESSES. RCEDC IS ALSO A SMALL BUSINESS ADMINISTRATION (SBA)CERTIFIED DEVELOPMENT COMPANY, AND AS A RESULT, PROVIDES SBA 504 FIXED ASSET LOANS THROUGHOUT THE STATE OF WISCONSIN. ALSO, UTILIZES THEIR RESOURCES TO MANAGE CERTAIN COMMUNITY-BASED REVOLVING LOAN FUNDS IN SOUTHEAST WISCONSIN. 556599 1338 42673 BUSINESS DEVELOPMENT: CONDUCTS VARIOUS BUSINESS DEVELOPMENT PROGRAMS AS PART OF ITS ECONOMIC DEVELOPMENT PLAN DIVISION. THESE PROGRAMS INCLUDE BUSINESS RETENTION AND EXPANSION AND TALENT ATTRACTION TO IDENTIFY AND IMPLEMENT STRATEGIES TO ADDRESS THE NEEDS OF EXISTING BUSINESSES THROUGHOUT RACINE COUNTY. IT ALSO CONDUCTS BUSINESS RECRUITMENT FOR COMPANIES THAT ARE SEEKING A LOCATION FOR BUSINESS IN RACINE COUNTY.COMMUNITY DEVELOPMENT: PROVIDES A VARIETY OF COMMUNITY DEVELOPMENT ASSISTANCE, SUCH AS BROWNFIELD AND GENERAL PROPERTY REDEVELOPMENT, DOWNTOWN AND COMMERCIAL CORRIDOR ASSISTANCE, THE CREATION AND EXPANSION OF BUSINESS PARKS, AND THE PROVISION OF SANITARY SEWER AND PUBLIC WATER TO AREAS THAT WILL ENABLE FUTURE BUSINESS DEVELOPMENT. 1739719 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 20 0 1 13 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 WI X JENNY TRICK 2628987424 2320 RENAISSANCE BLVD STURTEVANT WI 53177 JENNY TRICK EXECUTIVE DIRECTOR 40.00 X 194371 0 24897 GREGORY BARRON CHAIRMAN 1.00 X X 0 0 0 DAVID GRIFFITH PRESIDENT 1.00 X X 0 0 0 LANDON WIRTH 1ST VP 1.00 X X 0 0 0 WESLEY RICCHIO 2ND VP 1.00 X X 0 0 0 KARLA KREHBIEL 3RD VP 1.00 X X 0 0 0 BRIAN AGEN 4TH VP 1.00 X X 0 0 0 MARCHELLE GONZALES 5TH VP 1.00 X X 0 0 0 BRETT NIELSEN SECRETARY 1.00 X X 0 0 0 SHERONDA GLASS TREASURER 1.00 X X 0 0 0 JONATHAN DELAGRAVE DIRECTOR 1.00 X 0 0 0 CORY MASON DIRECTOR 1.00 X 0 0 0 194371 0 24897 1 0 1 0 CLIFTONLARSONALLEN LLP 220 S 6TH ST STE 300 MINNEAPOLIS MN 55402 ACCOUNTING 120549 1 143320 776720 61500 981540 SBA SERVICE FEES 522291 550624 550624 REVOLVING LOAN ADMIN 522291 307413 307413 CEO ROUNDTABLE 611430 38817 38817 REVOLVING LOAN PREP 522291 29980 29980 WORKSHOPS AND SEMINARS 611430 3856 3856 3663 3663 934353 108431 108431 17853 19042 -1189 -1189 -1189 MISCELLANEOUS 611430 2500 2500 2500 2025635 934353 0 109742 90483 90483 216094 193876 20941 1277 926703 829436 91711 5556 46544 41873 4384 287 116457 108287 7668 502 87758 79291 7945 522 16168 9245 6923 137565 137565 107245 84436 22809 54617 47853 6764 23561 15741 7793 27 50603 46969 3634 37803 35336 2311 156 36445 29906 6539 22737 22737 5874 5482 367 25 32584 23328 9256 LOAN LOSS RESERVE 44892 44892 WORKSHOPS AND SEMINARS 39529 25129 14400 STAFF TRAINING AND DEVE 19585 15620 3965 DUES AND SUBSCRIPTIONS 9397 8940 457 3596 3596 2126240 1739719 355432 31089 5516642 5353748 257756 1038011 81529 69812 6825454 6751642 43857 40234 76209 65920 12802 10289 217551 217551 112932 99721 13068523 13581008 172380 281278 5125 1215889 1725206 1393394 2006484 X 11598999 11525663 76130 48861 11675129 11574524 13068523 13581008 -100605 0 X 0 1 X 1 1 1 X 883186 3526729 2390464 1523154 981540 9305073 883186 3526729 2390464 1523154 981540 9305073 9305073 12186 815 15561 82539 108431 219532 7810 22099 7929 2500 40338 9564943 4829794 0.97280 0.98300 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 76209 65920 10289 10289 UNDISBURSED LOAN FUND CAPITAL 1705827 OPERATING LEASE-CURRENT 784 OPERATING LEASE-LONG-TERM 18595 1725206 X 2025635 0 2025635 0 2025635 2126240 0 2126240 0 2126240 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF INTERNAL REVENUE CODE AND IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION. MANAGEMENT HAS REVIEWED ALL TAX POSITIONS RECOGNIZED IN PREVIOUSLY FILED TAX RETURNS AND THOSE EXPECTED TO BE TAKEN IN FUTURE TAX RETURNS. AS OF DECEMBER 31, 2024, THE ORGANIZATION HAD NO AMOUNTS RELATED TO UNRECOGNIZED INCOME TAX BENEFITS AND NO AMOUNTS RELATED TO ACCRUED INTEREST AND PENALTIES. 1 0 0 PART I, LINE 2: EACH GRANT PROGRAM IS GOVERNED BY PROCEDURES APPROVED BY THE FUNDING AGENCY. RCEDC CREATES MARKETING MATERIALS INCLUDING AN APPLICATION FOR INTERESTED PARTIES TO APPLY FOR THE GRANT DOLLARS. COMPLETED APPLICATIONS ARE RECEIVED BY STAFF AND PRESENTED TO THE LOAN ADVISORY COMMITTEE FOR ACTION. UPON APPROVAL, STAFF PROVIDES A GRANT AWARD LETTER ALLOWING THE RECIPIENT TO EXPEND FUNDS. THE APPLICANT IS RESPONSIBLE TO SUPPLY RECEIPTS THAT ALIGN WITH THE APPROVED APPLICATION. RCEDC STAFF THEN REIMBURSE THE APPLICANT FOR THE APPROVED EXPENSES INCURRED. X X 0 0 0 0 0 1 0 1 0 JENNY TRICK EXECUTIVE DIRECTOR 186826 0 7545 0 0 0 9719 0 15178 0 219268 0 0 0 PART I, LINE 6 THE BONUS PROVIDED WAS CONTINGENT ON SURPLUS ABOVE BUDGET. PART I, LINE 7 BONUSES WERE PROVIDED BASED ON MERIT AND CONDITIONAL ON SURPLUS ABOVE BUDGET. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY AN OUTSIDE ACCOUNTANT, EXECUTIVE DIRECTOR, AND THE BOARD OF DIRECTORS WHICH IS THE GOVERNING BODY OF RCEDC. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO REPORT CONFLICT OF INTEREST AS THEY ARISE. ADDITIONALLY, THEY MUST ANNUALLY COMPLETE A CONFLICT OF INTEREST FORM. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS ADOPTED A COMPENSATION POLICY FOR THE EXECUTIVE DIRECTOR AND STAFF THAT INCLUDES THE ENGAGEMENT OF A THIRD-PARTY CONSULTANT TO REVIEW SALARIES AND MARKET CONDITIONS. THE BOARD DIRECTS THE EXECUTIVE DIRECTOR TO INCORPORATE THE SALARY RECOMMENDATIONS WITHIN THE NEXT YEAR'S BUDGET. ONCE THE BUDGET IS ADOPTED BY THE BOARD, THE EXECUTIVE DIRECTOR PREPARES AND SIGNS INDIVIDUAL MEMOS FOR EACH STAFF INDICATING ANY SALARY CHANGES. THE EXECUTIVE DIRECTOR ALSO PREPARES A SIMILAR MEMO FOR THE EXECUTIVE DIRECTOR, WHICH IS REVIEWED AND SIGNED BY THE BOARD PRESIDENT. THE EXECUTIVE DIRECTOR ALSO SENDS REQUIRED PAPERWORK TO ITS PAYROLL COMPANY TO MAKE THE APPROVED CHANGES. FORM 990, PART VI, SECTION C, LINE 19 THE 990 AND OTHER DOCUMENTS ARE AVAILABLE AT THE RCEDC OFFICES FOR INSPECTION UPON REQUEST. SE WI INVESTMENT LLC 2320 RENAISSANCE BLVD STURTEVANT WI 53177 REAL ESTATE ENTITY FOR PRIVATE DEVELOPMENT PROJECTS WI RACINE COUNTY ECONCOMIC DEVELOPMENT CORPORATION