MILWAUKEE ECONOMIC DEVELOPMENT CORP: Form 990, tax year 2017
View the entire original 990 at ProPublica ↗
- Organization
- MILWAUKEE ECONOMIC DEVELOPMENT CORP (EIN 23-7129398)
- Tax period
- 2017-01-01 to 2017-12-31
- Filed
- 2018-11-08
- IRS object ID
- 201803129349303060
- Schema version
- 2017v2.3
- 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 | 2018-11-08T16:00:26-06:00 | ReturnTs |
| Tax Period End | 2017-12-31 | 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 VIRCHOW KRAUSE LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 777 E WISCONSIN AVENUE 32ND FLOOR | AddressLine1Txt |
| City | MILWAUKEE | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2017-01-01 | 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 | 4142691445 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 757 NORTH BROADWAY NO 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 | 4142691445 | PhoneNum |
| Signature | 2018-11-08 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | TROY MARINE CPA | PreparerPersonNm |
| PTIN | P00187863 | PTIN |
| Phone | 4147775500 | PhoneNum |
| Preparation | 2018-11-08 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 38.122.82.115 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2018-11-08 | IPDt |
| IP Tm | 14:10:17 | IPTm |
| IP Timezone | CS | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 793A1E00ACF041F16FD41A7A782950CAF62641F6 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2017 | TaxYr |
| Build TS | 2019-02-21 02:37:17Z | 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 NO 600 | AddressLine1Txt |
| City | MILWAUKEE | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $6,091,581 | 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 | TO PROVIDE FLEXIBLE GAP FINANCING TO BUSINESSES IN ORDER TO ASSIST THEM IN EXPANDING AND RETAINING JOB OPPORTUNITIES TO AREA INDIVIDUALS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 27 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 26 | VotingMembersIndependentCnt |
| Total Employee | 19 | TotalEmployeeCnt |
| Total Volunteers | 26 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $38,011 | PYContributionsGrantsAmt |
| CY Contributions Grants | $23,420 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $6,033,480 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $5,913,526 | CYProgramServiceRevenueAmt |
| PY Investment Income | $10,323 | PYInvestmentIncomeAmt |
| CY Investment Income | -$1,173,358 | CYInvestmentIncomeAmt |
| PY Other Revenue | $37,923 | PYOtherRevenueAmt |
| CY Other Revenue | $115,024 | CYOtherRevenueAmt |
| PY Total Revenue | $6,119,737 | PYTotalRevenueAmt |
| CY Total Revenue | $4,878,612 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $101,838 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $101,290 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,409,730 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,476,376 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,723,012 | PYOtherExpensesAmt |
| CY Other Expenses | $5,066,043 | CYOtherExpensesAmt |
| PY Total Expenses | $3,234,580 | PYTotalExpensesAmt |
| CY Total Expenses | $6,643,709 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,885,157 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$1,765,097 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $242,134,829 | TotalAssetsBOYAmt |
| Total Assets EOY | $207,316,930 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $29,985,829 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $38,698,365 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $212,149,000 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $168,618,565 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE MILWAUKEE ECONOMIC DEVELOPMENT CORPORATION'S MISSION IS TO AID BUSINESS EXPANSION IN ORDER TO GROW OUR ECONOMY THROUGH THE CREATION AND RETENTION OF JOBS AND BY INCREASING THE PROPERTY TAX BASE. THE CORPORATION USES ITS LOAN CAPITAL TO PROVIDE BUSINESS LOANS AND ASSIST IN THE FINANCING OF PROJECTS THAT ACHIEVE THAT OBJECTIVE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $6,192,348 | ExpenseAmt |
| Revenue | $5,913,526 | RevenueAmt |
| Desc | LOANS: THE MILWAUKEE ECONOMIC DEVELOPMENT CORPORATION PROVIDES BELOW MARKET INTEREST RATE LOANS TO MILWAUKEE BUSINESSES WORKING IN PARTNERSHIP WITH A BANK. MEDC'S APPROACH TO LENDING REVOLVES AROUND TWO FUNDAMENTAL PRINCIPLES. SHARING RISK WITH ALL PARTICIPANTS IN A PROJECT AND LENDING IN PARTNERSHIP WITH PRIVATE SECTOR FINANCIAL INSTITUTIONS.EXCLUDED FROM EXPENSES ARE $1,717,641 OF DISTRIBUTIONS OF 99.99% OF NET INCOME TO INVESTOR MEMBERS RELATED TO THE NEW MARKETS TAX CREDIT SUBSIDIARIES. MEDC ONLY OWNS .01% OF THESE FUNDS. SEE ALSO SCHEDULES O AND R FOR FURTHER INFORMATION. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $101,290 | ExpenseAmt |
| Grant | $101,290 | GrantAmt |
| Desc | DEVELOPMENT/ENVIRONMENTAL REMEDIATION: MEDC ALSO WORKS IN COLLABORATION WITH THE CITY OF MILWAUKEE AND THE REDEVELOPMENT AUTHORITY OF THE CITY OF MILWAUKEE (RACM) TO ASSIST WITH THE DEVELOPMENT AND ENVIRONMENTAL REMEDIATION OF COMMERCIAL AND INDUSTRIAL PROPERTIES. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $6,293,638 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | 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 |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | 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 | Yes (1) | 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 With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| 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 | 295 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 19 | 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 |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 27 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 26 | 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 | 0 | 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 (30 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|
| BARRETT TOM | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| BARTH STEVE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| BROWN MARTHA L | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| CLARK DAVID D | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| GALANIS JOHN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| GAMBOA IVAN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| HALL DR EVE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| HAMILTON ASHANTI | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| KENDRIX OSSIE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| KESSLER DEBRA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| KLEINER PAUL | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| LATONA DAVID E | ||||||
| PRESIDENT/DIRECTOR | 40.00 | Yes (X) | $170,229 | $0 | $35,474 | Yes (X) |
| LEMKE MARK | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MACARENO AMELIA E | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MARCOUX RICHARD | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MATSON MARTIN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MITICH REBECCA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MURPHY MICHAEL | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| O'NEILL THOMAS J | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| RIVERA PERFECTO | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ROBERTSON KENNETH | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| SCHMUTZER CRAIG | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| SHEEHY TIMOTHY | ||||||
| CHAIRMAN/DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| TALBOTT ROBIN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| THAO MAY YER | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| WALSH PATRICK G | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ZALE THOMAS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ADAMS TRACY | ||||||
| SECRETARY | 40.00 | $61,695 | $0 | $11,867 | Yes (X) | |
| LUBER TRACY | ||||||
| TREASURER | 40.00 | $85,302 | $0 | $18,302 | Yes (X) | |
| MILLER JOHN | ||||||
| VICE PRESIDENT | 40.00 | $99,888 | $0 | $30,303 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $417,114 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $95,946 | 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 (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| VANGARD GROUP LLC | |||||
| 710 N PLANKINTON AVENUE | MILWAUKEE | WI | 53202 | TENANT DELIVERY FEE | $240,000 |
| FRIEBERT FINERTY & ST JOHN | |||||
| 330 EAST KILBOURN AVENUE SUITE 125 | MILWAUKEE | WI | 53202 | LEGAL | $222,660 |
| COHNREZNICK LLP | |||||
| 500 EAST PRATT STREET SUITE 400 | BALTIMORE | MD | 21202 | AUDIT & TAX | $154,572 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $23,420 | AllOtherContributionsAmt |
| Total Contributions | $23,420 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN INTEREST | 900099 | $5,726,549 | $5,726,549 |
| MANAGEMENT AND SERVICING FEES | 900099 | $186,977 | $186,977 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $5,913,526 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $39,611 | TotalRevenueColumnAmt |
| Exclusion | $39,611 | ExclusionAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $1,212,969 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$1,212,969 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$1,212,969 | TotalRevenueColumnAmt |
| Exclusion | -$1,212,969 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt |
|---|---|---|---|
| OTHER INCOME | 900099 | $114,858 | $114,858 |
| MISCELLANEOUS INCOME | 900099 | $166 | $166 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $115,024 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,878,612 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $5,913,526 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | -$1,058,334 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $101,290 | TotalAmt |
| Program Services | $101,290 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $513,060 | TotalAmt |
| Program Services | $461,756 | ProgramServicesAmt |
| Management And General | $51,304 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $603,177 | TotalAmt |
| Program Services | $498,208 | ProgramServicesAmt |
| Management And General | $104,969 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $72,902 | TotalAmt |
| Program Services | $62,696 | ProgramServicesAmt |
| Management And General | $10,206 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $207,281 | TotalAmt |
| Program Services | $178,262 | ProgramServicesAmt |
| Management And General | $29,019 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $79,956 | TotalAmt |
| Program Services | $68,762 | ProgramServicesAmt |
| Management And General | $11,194 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $71,865 | TotalAmt |
| Program Services | $71,865 | ProgramServicesAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $98,926 | TotalAmt |
| Program Services | $85,076 | ProgramServicesAmt |
| Management And General | $13,850 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $179,791 | TotalAmt |
| Program Services | $132,921 | ProgramServicesAmt |
| Management And General | $46,870 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $80,399 | TotalAmt |
| Program Services | $80,399 | ProgramServicesAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,765 | TotalAmt |
| Program Services | $8,383 | ProgramServicesAmt |
| Management And General | $8,382 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $81,191 | TotalAmt |
| Program Services | $64,364 | ProgramServicesAmt |
| Management And General | $16,827 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $93,836 | TotalAmt |
| Program Services | $89,336 | ProgramServicesAmt |
| Management And General | $4,500 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $90,009 | TotalAmt |
| Program Services | $77,408 | ProgramServicesAmt |
| Management And General | $12,601 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,694 | TotalAmt |
| Program Services | $2,317 | ProgramServicesAmt |
| Management And General | $377 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,403 | TotalAmt |
| Program Services | $15,911 | ProgramServicesAmt |
| Management And General | $12,492 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $867,249 | TotalAmt |
| Program Services | $867,249 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,678 | TotalAmt |
| Program Services | $42,723 | ProgramServicesAmt |
| Management And General | $6,955 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $41,051 | TotalAmt |
| Program Services | $20,526 | ProgramServicesAmt |
| Management And General | $20,525 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| LOAN LOSS PROVISION | $3,290,636 | $3,290,636 |
| LOAN CLOSING AND SERVIC | $48,257 | $48,257 |
| LOAN GUARANTEE EXPENSE | $25,293 | $25,293 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,643,709 | TotalAmt |
| Program Services | $6,293,638 | ProgramServicesAmt |
| Management And General | $350,071 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,344,898 | BOYAmt |
| EOY | $6,959,329 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $100,881 | BOYAmt |
| EOY | $7,033,202 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $352,381 | BOYAmt |
| EOY | $111,260 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $201,605,987 | BOYAmt |
| EOY | $166,751,501 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $474,641 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $178,298 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $306,426 | BOYAmt |
| EOY | $296,343 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $351,038 | BOYAmt |
| EOY | $351,038 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $872 | BOYAmt |
| EOY | $158 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,072,346 | BOYAmt |
| EOY | $25,814,099 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $242,134,829 | BOYAmt |
| EOY | $207,316,930 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $871,436 | BOYAmt |
| EOY | $984,976 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $162,525 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,546,974 | BOYAmt |
| EOY | $36,788,611 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $567,419 | BOYAmt |
| EOY | $762,253 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,985,829 | BOYAmt |
| EOY | $38,698,365 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $205,177,458 | BOYAmt |
| EOY | $162,540,885 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,971,542 | BOYAmt |
| EOY | $6,077,680 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $212,149,000 | BOYAmt |
| EOY | $168,618,565 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $242,134,829 | BOYAmt |
| EOY | $207,316,930 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$1,765,097 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$41,765,338 | 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) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| 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 | $3,567,120 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $115,524 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $67,156 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $38,011 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $23,420 | CurrentTaxYearAmt |
| Total | $3,811,231 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,142,234 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $4,816,455 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $5,510,082 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,033,480 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,913,526 | CurrentTaxYearAmt |
| Total | $26,415,777 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $7,709,354 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $4,931,979 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $5,577,238 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,071,491 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,936,946 | CurrentTaxYearAmt |
| Total | $30,227,008 | 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 | $30,227,008 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $60,784 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $30,209 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $11,942 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $10,323 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $39,611 | CurrentTaxYearAmt |
| Total | $152,869 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $60,784 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $30,209 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $11,942 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $10,323 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $39,611 | CurrentTaxYearAmt |
| Total | $152,869 | TotalAmt |
Net Income From Other UBI NetIncomeFromOtherUBIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $418,086 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $177 | CurrentTaxYearMinus3YearsAmt |
| Total | $418,263 | TotalAmt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $38,015 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $37,515 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $68,932 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $37,923 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $115,024 | CurrentTaxYearAmt |
| Total | $297,409 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $8,226,239 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $4,999,880 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $5,658,112 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,119,737 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $6,091,581 | CurrentTaxYearAmt |
| Total | $31,095,549 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.97210 | PublicSupportCY509Pct |
| Public Support PY509 | 0.94050 | PublicSupportPY509Pct |
| Investment Income CY | 0.00490 | InvestmentIncomeCYPct |
| Investment Income PY | 0.00480 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule B IRS990ScheduleB
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | Yes (1) | AgentTrusteeEtcInd |
| Beginning Balance | $0 | BeginningBalanceAmt |
| Additions During Year | $444,193 | AdditionsDuringYearAmt |
| Distributions During Year | $380,405 | DistributionsDuringYearAmt |
| Ending Balance | $63,788 | 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 | $227,409 | OtherCostOrOtherBasisAmt |
| Depreciation | $67,001 | DepreciationAmt |
| Book Value | $160,408 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $113,349 | OtherCostOrOtherBasisAmt |
| Depreciation | $75,485 | DepreciationAmt |
| Book Value | $37,864 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $133,883 | OtherCostOrOtherBasisAmt |
| Depreciation | $35,812 | DepreciationAmt |
| Book Value | $98,071 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $296,343 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (5 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| ACCRUED INTEREST RECEIVABLE | $384,636 |
| REAL ESTATE HELD FOR DEVELOPMENT | $3,092,663 |
| DUE FROM MEDC CAPITAL FUND VIII INVESTMENT FUND, LLC | $13,682,000 |
| DUE FROM MEDC FCI LOAN POOL INVESTMENT FUND, LLC | $8,551,250 |
| DUE FROM PABST PROFESSIONAL INVESTMENT FUND, LLC | $103,550 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $25,814,099 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| CAP ACCESS BANK LOAN LOSS RESERVE | $711,228 |
| ACCRUED INTEREST PAYABLE | $51,025 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $762,253 | 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 PURPOSE 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. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (5 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt | Address Line2USAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|---|
| FEDERAL COMMONS SOUTH SECOND LLC | |||||||
| 920 CIRCLE DRIVE | ELM GROVE | WI | 53122 | 475420534 | $8,064 | SITE ASSESSMENT GRANT | |
| DEMICHELE COMPANY LLC | |||||||
| 2060 N HUMBOLDT AVE SUITE 250 | MILWAUKEE | WI | 53212 | 272940419 | $10,396 | SITE ASSESSMENT GRANT | |
| CHERRY WATER LLC | |||||||
| 1200 N MAYFAIR ROAD SUITE 310 | MILWAUKEE | WI | 53226 | 811795902 | $25,000 | SITE ASSESSMENT GRANT | |
| WWB DEVELOPMENT II LLC | |||||||
| C/O IRGENS PARTNERS LLC 833 EAST | MILWAUKEE | WI | 53202 | 814853787 | $18,724 | SITE ASSESSMENT GRANT | MICHIGAN STREET SUITE 400 |
| WWB DEVELOPMENT LLC | |||||||
| C/O IRGENS PARTNERS LLC 833 EAST | MILWAUKEE | WI | 53202 | 813353663 | $15,886 | SITE ASSESSMENT GRANT | MICHIGAN STREET SUITE 400 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 0 | Total501c3OrgCnt |
| Total Other Org | 5 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION UTILIZES AN ACCOUNTING SOFTWARE PACKAGE WHICH TRACKS THE AMOUNT OF GRANTS ISSUED THROUGHOUT THE YEAR. | ExplanationTxt |
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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | LATONA DAVID E | PersonNm |
| Title | PRESIDENT/DIRECTOR | TitleTxt |
| Base Compensation Filing Org | $150,672 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $19,557 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $12,302 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $23,172 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $205,703 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1 | THE EXECUTIVE COMMITTEE, COMPRISED OF 10 DIRECTORS OF THE ORGANIZATION, HAS FULL GOVERNING AUTHORITY OVER THE ORGANIZATION. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE ORGANIZATION HAS SIX CLASSES OF DIRECTORS, OF WHICH ALL ARE MEMBERS. THE CLASS I, II, III, AND IV DIRECTORS COMPRISE 9 OF 10 SEATS ON THE EXECUTIVE COMMITTEE. THE LAST SEAT OF THE EXECUTIVE COMMITTEE IS A CLASS V DIRECTOR THAT WAS APPOINTED BY A VOTE OF ALL CLASS V DIRECTORS. THE 10 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 | THE EXECUTIVE COMMITTEE AND STAFF COMPLETE FORMS ANNUALLY. IF ANY INSTANCES OF POTENTIAL CONFLICTS COME UP BASED ON THE ANNUAL FORMS OR DURING THE ORDINARY COURSE OF BUSINESS, THEY ARE TO BE REPORTED TO THE BOARD OF DIRECTORS AND APPROPRIATE ACTION WILL BE TAKEN AND FOLLOWED UP ON AS INSTRUCTED IN THE POLICY. |
| 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 2018. 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: | ASSIGNMENT OF NOTES TO INVESTOR MEMBERS - CF II-IV NMTC UNWINDS -42,150,000. GAIN ON NMTC UNWIND 6,731,327. CONTRIBUTION EXPENSE NMTC UNWIND -5,236,650. PARTNERSHIP DISTRIBUTIONS -1,110,015. |
| FORM 990, PART XII, LINE 2C: | NO CHANGES HAVE BEEN MADE FROM THE PRIOR YEAR. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (3 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 |
|---|---|---|---|---|---|---|---|---|---|
| MEDC CAPITAL FUND II LLC | |||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 352319023 | LENDING | WI | $22 | $0 | MILWAUKEE ECONOMIC DEVELOPMENT CORPORATION |
| MEDC CAPITAL FUND IV LLC | |||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 943451031 | LENDING | WI | $31 | $0 | MILWAUKEE ECONOMIC DEVELOPMENT CORPORATION |
| PH DYE HOUSE INVESTMENT FUND LLC | |||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 161782971 | LENDING | WI | $0 | $0 | MILWAUKEE ECONOMIC DEVELOPMENT CORPORATION |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (11 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MEDC CAPITAL FUND V | |||||||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 943451022 | LENDING | WI | N/A | RELATED | $24 | $1,403 | 0 | Yes (1) | 0.00010 |
| MEDC CAPITAL FUND VI | |||||||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 943451025 | LENDING | WI | N/A | RELATED | $8 | $1,887 | 0 | Yes (1) | 0.00010 |
| MEDC CAPITAL FUND VII LLC | |||||||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 943451034 | LENDING | WI | N/A | RELATED | $16 | $1,406 | 0 | Yes (1) | 0.00010 |
| CHASE NMTC INGETEAM INVESTMENT FUND LLC | |||||||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 274446984 | LENDING | WI | N/A | RELATED | $1,404 | 0 | Yes (1) | 0.00010 | |
| MEDC CAPITAL FUND VIII LLC | |||||||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 943451040 | LENDING | WI | N/A | RELATED | $20 | $2,042 | 0 | Yes (1) | 0.00010 |
| MEDC CAPITAL FUND IX LLC | |||||||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 462655054 | LENDING | WI | N/A | RELATED | $14 | $2,000 | 0 | Yes (1) | 0.00010 |
| MEDC CAPITAL FUND X LLC | |||||||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 462672187 | LENDING | WI | N/A | RELATED | $12 | $1,551 | 0 | Yes (1) | 0.00010 |
| MEDC CAPITAL FUND XI LLC | |||||||||||||
| 757 NORTH BROADWAY SUITE 600 | MILWAUKEE | WI | 53202 | 462677663 | LENDING | WI | N/A | RELATED | $9 | $1,266 | 0 | Yes (1) | 0.00010 |
| LCM FUNDS PITTSBURGH LLC | |||||||||||||
| 330 E KILBOURN AVE SUITE 838 | MILWAUKEE | WI | 53202 | 461923498 | REAL ESTATE | WI | N/A | RELATED | -$34,256 | $914,606 | 0 | 0 | 0.10000 |
| YANKEE HILL HOUSING PARTNERS | |||||||||||||
| 2 SCIENCE COURT | MADISON | WI | 53711 | 391521328 | REAL ESTATE | WI | N/A | RELATED | $873,658 | $8,073,112 | 0 | 0 | 0.48510 |
| TS EARLY VENTURES | |||||||||||||
| 5156 VISTAMERE CT | ORLANDO | FL | 32819 | 134219110 | TECH INVESTMENT | WI | N/A | RELATED | 0 | 0 | 0.25000 | ||
| 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 |