2022-07-28T09:01:24-05:00 2021-12-31 390919055 RITZ HOLMAN LLP 330 E KILBOURN AVE SUITE 550 MILWAUKEE WI 53202 990 2021-01-01 930846583 RACINE COUNTY ECONOMIC DEVELOPMENT CORPORATION RACI 2628987424 2320 RENAISSANCE BLVD STURTEVANT WI 53177 GREGORY BARRON PRESIDENT 2628987424 2022-07-28 1 GREGORY BARRON 999009999 DIANA G LUTTMANN P01075770 4142711451 2022-07-28 0 AAL1 IAL1 2021 2022-09-23 18:48:47Z GREGORY BARRON 2320 RENAISSANCE BLVD STURTEVANT WI 53177 4460005 0 X WWW.RACINECOUNTYEDC.ORG X 1983 WI TO PROVIDE ECONOMIC DEVELOPMENT SERVICES INCLUDING BUSINESS RECRUITMENT, EXPANSION, BUSINESS FINANCING, COMMUNITY AND WORKFORCE DEVELOPMENT. 10 10 20 32 0 0 883186 3526729 829385 924651 12186 815 302103 7810 2026860 4460005 0 50718 0 0 965069 1073830 0 0 24162 1284153 1187163 2249222 2311711 -222362 2148294 14555295 11510127 2514385 1758182 12040910 9751945 TO PROVIDE ECONOMIC DEVELOPMENT SERVICES INCLUDING BUSINESS RECRUITMENT, EXPANSION, BUSINESS FINANCING, COMMUNITY AND WORKFORCE DEVELOPMENT. 0 0 1335851 875683 BUSINESS FINANCE: MANAGES A NUMBER OF GOVERNMENT AND QUASI-GOVENRMENT 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. 581588 50718 48968 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. 1917439 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 13 0 1 20 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 WI X JENNY TRICK 2628987424 2320 RENAISSANCE BLVD STURTEVANT WI 53177 LISA JUST CHAIRMAN 1.00 X X 0 0 0 GREGORY BARRON PRESIDENT 1.00 X X 0 0 0 DAVID GRIFFITH 1ST VP 1.00 X X 0 0 0 JOHN CRIMMINGS 2ND VP 1.00 X X 0 0 0 SCOTT MENKE 3RD VP 1.00 X X 0 0 0 WESLEY RICCHIO SECRETARY 1.00 X X 0 0 0 KARLA KREHBIEL TREASURER 1.00 X X 0 0 0 JULIE ANDERSON DIRECTOR 1.00 X 0 0 0 JONATHAN DELAGRAVE DIRECTOR 1.00 X 0 0 0 CORY MASON DIRECTOR 1.00 X 0 0 0 JENNY TRICK EXECUTIVE DIRECTOR 40.00 X 163177 0 29691 CAROLYN ENGEL BUSINESS FINANCE MANAGER 40.00 X 102982 0 26744 266159 0 56435 2 0 1 0 CLIFTONLARSONALLEN LLP 220 S 6TH ST STE 300 MINNEAPOLIS MN 55402 ACCOUNTING 120535 STAFFORD ROSENBAUM LLP PO BOX 1784 MADISON WI 537011784 LEGAL 102965 2 143385 3300344 83000 3526729 SBA SERVICE FEES 522291 698051 698051 REVOLVING LOAN FUND AD 522291 137811 137811 REVOLVING LOAN PREP FE 522291 39821 39821 CEO ROUNDTABLE 611430 36550 36550 WORKSHOPS AND SEMINARS 611430 12418 12418 924651 815 815 MISCELLANEOUS 611430 7810 7810 7810 4460005 924651 0 8625 50718 50718 192867 169554 22391 922 711673 626521 81715 3437 34524 29961 4408 155 62884 54811 7797 276 71882 62463 9116 303 6072 5397 645 30 143978 143978 91684 83605 7687 392 17815 17014 801 22343 21125 1164 54 27072 26101 928 43 26541 23951 2407 183 14418 13940 457 21 19020 899 18121 15026 13146 1874 6 11733 10501 1178 54 29983 26687 3150 146 LOAN LOSS RESERVE 515417 515417 MT. PLEASANT TOURISM EX 93339 93199 134 6 WRITE OFF OF VOC CREDIT 80000 80000 WORKSHOPS AND SEMINARS 30674 30674 42048 41755 280 13 2311711 1917439 370110 24162 5897824 5543610 250757 23845 211430 142403 7902186 5113708 40788 41665 91977 62510 35467 29467 217551 217551 250049 147121 14555295 11510127 222322 309285 177483 78200 10125 262773 231350 1773607 1207422 2514385 1758182 X 11549948 9654328 490962 97617 12040910 9751945 14555295 11510127 X 2148294 -4437259 X 0 1 X 1 1 1 X 5478615 742376 871808 883186 3526729 11502714 5478615 742376 871808 883186 3526729 11502714 11502714 1320 4715 9624 12186 815 28660 904170 999550 888622 1129511 7810 3929663 15461037 924651 0.74400 0.65290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 91977 62510 29467 29467 CAPITAL LEASE 1595 LOAN FUND CAPITALIZATION NOT YET DISBURSED 1205827 1207422 X 4460005 0 4460005 0 4460005 2311711 0 2311711 0 2311711 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, 2021, THE ORGANIZATION HAD NO AMOUNTS RELATED TO UNRECOGNIZED INCOME TAX BENEFITS AND NO AMOUNTS RELATED TO ACCRUED INTEREST AND PENALTIES. X 0 0 0 0 0 0 0 0 0 JENNY TRICK EXECUTIVE DIRECTOR 156177 0 7000 0 0 0 0 0 29691 0 192868 0 0 0 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. FORM 990, PART XI, LINE 9: POLICY CHANGE ON RESERVE FOR FORGIVABLE LOANS AND FUNDS HELD IN TRUST -4,437,259. RACINE DEVELOPMENT GROUP REVOLVING LOAN FUND LLC 2320 RENAISSANCE BLVD STURTEVANT WI 53177 LENDING ACTIVITY WI RACINE COUNTY ECONCOMIC DEVELOPMENT CORPORATION SE WI INVESTMENT LLC 2320 RENAISSANCE BLVD STURTEVANT WI 53177 REAL ESTATE ENTITY FOR PRIVATE DEVELOPMENT PROJECTS WI RACINE COUNTY ECONCOMIC DEVELOPMENT CORPORATION