Civic Intelligence

Milwaukee Economic Development Corp

990 • Fiscal year 2015 • EIN 23-7129398

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 14, 2016

Organization ProfileWWW.MEDCONLINE.COM

View Organization Page

757 North Broadway No 600Milwaukee, WI 53202

(414) 269-1440

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

23rd percentile

0.11x

Higher debt load relative to assets than 23% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Liabilities / Revenue

91st percentile

4.57x

Higher debt load relative to revenue than 91% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Net Margin

84th percentile

26%

Higher net margin than 84% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Top Officer Pay

20th percentile

$257,037

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Asset Growth

79th percentile

9.2%

Faster asset growth than 79% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Revenue Growth

72nd percentile

11%

Faster revenue growth than 72% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Up

$236,573,789

Up $19,978,699 (+9.2%) from 2014

Net Assets

Up

$210,698,940

Up $13,548,228 (+6.9%) from 2014

Liabilities

Up

$25,874,849

Up $6,430,471 (+33%) from 2014

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin84th percentile

Revenue

Up

$5,658,112

Up $555,222 (+11%) from 2014

Expenses

Up

$4,192,909

Up $1,638,855 (+64%) from 2014

Net Income

Down

$1,465,203

Down $1,083,633 (-43%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2010: $64,900,116Liabilities 2010: $8,190,928Net Assets 2010: $56,709,1882010Assets 2011: $63,632,556Liabilities 2011: $6,445,167Net Assets 2011: $57,187,3892011Assets 2012: $178,822,636Liabilities 2012: $19,805,925Net Assets 2012: $159,016,7112012Assets 2013: $171,107,026Liabilities 2013: $19,033,886Net Assets 2013: $152,073,1402013Assets 2014: $216,595,090Liabilities 2014: $19,444,378Net Assets 2014: $197,150,7122014Assets 2015: $236,573,789Liabilities 2015: $25,874,849Net Assets 2015: $210,698,9402015Assets 2016: $242,134,829Liabilities 2016: $29,985,829Net Assets 2016: $212,149,0002016Assets 2017: $207,316,930Liabilities 2017: $38,698,365Net Assets 2017: $168,618,5652017Assets 2018: $164,881,387Liabilities 2018: $18,491,363Net Assets 2018: $146,390,0242018Assets 2019: $156,590,034Liabilities 2019: $23,131,748Net Assets 2019: $133,458,2862019Assets 2020: $156,884,808Liabilities 2020: $22,108,464Net Assets 2020: $134,776,3442020Assets 2021: $129,937,785Liabilities 2021: $26,428,670Net Assets 2021: $103,509,1152021Assets 2022: $134,203,800Liabilities 2022: $40,101,532Net Assets 2022: $94,102,2682022Assets 2023: $133,022,594Liabilities 2023: $46,441,388Net Assets 2023: $86,581,2062023Assets 2024: $139,494,155Liabilities 2024: $51,614,291Net Assets 2024: $87,879,8642024

Highlighted filing

2015

Assets$236,573,789
Liabilities$25,874,849
Net Assets$210,698,940
Open 2015 Filing

Operations Trend

Revenue Growth72nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$10M$0-$10M-$20MExpenses 2010: $3,385,2992010Expenses 2011: $5,514,3102011Expenses 2012: $4,645,1402012Revenue 2013: $8,725,157Expenses 2013: $7,509,550Net Income 2013: $1,215,6072013Revenue 2014: $5,102,890Expenses 2014: $2,554,054Net Income 2014: $2,548,8362014Revenue 2015: $5,658,112Expenses 2015: $4,192,909Net Income 2015: $1,465,2032015Revenue 2016: $6,119,737Expenses 2016: $3,234,580Net Income 2016: $2,885,1572016Revenue 2017: $4,878,612Expenses 2017: $6,643,709Net Income 2017: -$1,765,0972017Revenue 2018: $4,617,324Expenses 2018: $7,869,738Net Income 2018: -$3,252,4142018Revenue 2019: $4,767,789Expenses 2019: $4,431,646Net Income 2019: $336,1432019Revenue 2020: $4,689,021Expenses 2020: $3,456,264Net Income 2020: $1,232,7572020Revenue 2021: $4,507,113Expenses 2021: $17,683,799Net Income 2021: -$13,176,6862021Revenue 2022: $4,043,772Expenses 2022: $3,895,449Net Income 2022: $148,3232022Revenue 2023: $5,024,369Expenses 2023: $5,156,100Net Income 2023: -$131,7312023Revenue 2024: $7,243,827Expenses 2024: $7,074,229Net Income 2024: $169,5982024

Highlighted filing

2015

Revenue$5,658,112
Expenses$4,192,909
Net Income$1,465,203
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 14, 2016
Return Version
2015v2.1
Gross Receipts
$5,658,112
Mission and Program Overview

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).

To provide flexible gap financing to businesses in order to assist them in expanding and retaining job opportunities to area individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$172,315,707$192,828,126▲ $20,512,419
Cash and Non-Interest-Bearing Accounts$26,767,605$17,901,676▼ $8,865,929
Land, Buildings, and Equipment, Net$0$327,523▲ $327,523
Accounts Receivable$37,977$172,886▲ $134,909
Savings and Temporary Cash Investments$2,128,750$100,730▼ $2,028,020
Investments Other Securities$77,038$77,038→ $0
Prepaid Expenses and Deferred Charges$6,500$6,500→ $0
Intangible Assets$2,300$1,586▼ $714
Total Assets$216,595,090$236,573,789▲ $19,978,699
Other Assets Total$15,259,213$25,157,724▲ $9,898,511
Liabilities
Mortgage Notes Payable Secured by Investment Property$15,502,401$24,559,598▲ $9,057,197
Accounts Payable and Accrued Expenses$2,235,615$839,863▼ $1,395,752
Other Liabilities$1,706,362$475,388▼ $1,230,974
Total Liabilities$19,444,378$25,874,849▲ $6,430,471
Net Assets / Fund Balance
Unrestricted Net Assets$187,894,914$203,079,061▲ $15,184,147
Temporarily Rstr Net Assets$9,255,798$7,619,879▼ $1,635,919
Total Net Assets Fund Balance$197,150,712$210,698,940▲ $13,548,228
Total Liabilities and Net Assets / Fund Balance$216,595,090$236,573,789▲ $19,978,699

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$200,271$22,252$222,523
Other Land Buildings$98,422$10,936$109,358
Equipment$28,830$53,367$82,197
Other Assets Org$103,550--
Compensation and Service Providers
Top Officer Pay20th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Latona David EPresident/DirectorFT$144,397$112,640$257,037
Miller JohnVice PresidentFT$97,333$28,580$125,913
Luber TracyTreasurerFT$83,591$18,007$101,598
Adams TracySecretaryFT$57,355$11,156$68,511
Walsh Patrick GDirectorFT$44,505-$44,505

Board Members and Trustees

NameTitle
Sheehy TimothyChairman/Director
Barrett TomDirector
Barth Stevedirector
Brown Martha Ldirector
Clark David Ddirector
Cross Carla Ydirector
Davis Joe Srdirector
Dickman Samuel Ddirector
Dwyer Michael Jdirector
Galanis Johndirector
Kleiner Pauldirector
Lemke Markdirector
Luber Freddirector
Macareno Amelia EDirector
Marcoux Richarddirector
Matson Martindirector
Monnat Robert Bdirector
Murphy MichaelDirector
O'NEILL THOMAS Jdirector
Penman Julie adirector
Talbott Robindirector
Zale Thomasdirector
rIVERA PERFECTOdirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Friebert Finerty & St JohnLegal330 East Kilbourn Avenue Suite 125, Milwaukee, WI 53202$190,073
Revenue and Support

Revenue Composition

Contributions and Grants
$67,156
Program Service Revenue
$5,510,082
Investment Income
$11,942
Other Revenue
$68,932
All Other Contributions
$67,156
Change in Net Assets
$1,465,203
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,892,468
Salaries, Compensation, and Employee Benefits$1,233,285
Grants and Similar Amounts Paid$67,156
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$537,808$59,756-$597,564
Interest$509,625$56,625-$566,250
Other Salaries and Wages$324,297$36,033-$360,330
Office Expenses$209,061$23,229-$232,290
Fees for Services Legal$169,947$18,883-$188,830
Other Employee Benefits$142,970$15,886-$158,856
Fees for Services Accounting$137,420$15,269-$152,689
Payroll Taxes$61,625$6,847-$68,472
Grants to Domestic Orgs$67,156--$67,156
Fees for Services Management$52,322$5,814-$58,136
Pension Plan Contributions$43,257$4,806-$48,063
Other Expenses$38,629$4,292-$42,921
Depreciation Depletion$37,358$4,150-$41,508
Advertising$17,696$1,966-$19,662
Insurance$3,234$359-$3,593
Total Functional Expenses$3,780,335$412,574$0$4,192,909
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Advanced Waste Services IncMilwaukee, WI-Site Assessment Grant$11,281
The MerchandisersMilwaukee, WI-site assessment grant$11,059
Saz's 201 West Walker LLCMilwaukee, WI-Site Assessment Grant$9,234
Gravity MarketingMilwaukee, WI-Site Assessment Grant$7,575
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held in Escrow$359,626
Sba Loan Guarantee Deposit$100,357
Closing Fee Deposit$15,405
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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 11

“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.”

Form 990, Part VI, Section B, line 15

“The corporation engaged an outside consulting firm, mra, to review job descriptions for all positions and compare compensation with published and unpublished salary and benefit surveys. Pay ranges were established using this market information. Mra also provided a benefits comparison to market, which was used as the basis for management to adjust some benefits. This process was last done in 2011. This was reviewed by members of the executive committee.”

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.”

Filing and Contact Details

Filer

Filer Name
Milwaukee Economic Development
EIN
23-7129398
Phone
4142691440
Address
757 North Broadway No 600, Milwaukee, WI 53202

Signing Officer

Name
David E Latona
Title
President
Phone
4142691440
Signed
2016-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David E Latona
Formed
1971
Legal Domicile
Wi
Voting Board Members
25
Independent Board Members
23
Employees
23
Volunteers
25

Preparer

Firm
Baker Tilly Virchow Krause LLP
Address
777 E Wisconsin Avenue 32nd Floor, Milwaukee, WI 53202
Preparer
Troy Marine CPA
Phone
4147775500
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Non-controlling member contributions 12,500,000. Distributions to non-controlling members -2,063,227. Partnership Distributions 1,646,252.”

Form 990, Part XII, Line 2C:

“No changes have been made from the prior year.”

Financial Statement Notes

Part X, Line 2:

“The Affiliates have elected to be treated as a pass-through entity 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 its owners on their respective income tax returns. The Affiliates' federal tax status as a pass-through entity is based on their legal status as limited liability companies. Accordingly, the Affiliates are not required to take any tax 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 the Affiliates have no other tax positions which must be considered for disclosure.”

Raw XML AppendixShowing 400 of 906 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm0Barrett Tom
IRS990/Form990PartVIISectionAGrp/PersonNm1BARTH STEVE
IRS990/Form990PartVIISectionAGrp/PersonNm2BROWN MARTHA L
IRS990/Form990PartVIISectionAGrp/PersonNm3CLARK DAVID D
IRS990/Form990PartVIISectionAGrp/PersonNm4CROSS CARLA Y
IRS990/Form990PartVIISectionAGrp/PersonNm5DAVIS JOE SR
IRS990/Form990PartVIISectionAGrp/PersonNm6DICKMAN SAMUEL D
IRS990/Form990PartVIISectionAGrp/PersonNm7DWYER MICHAEL J
IRS990/Form990PartVIISectionAGrp/PersonNm8GALANIS JOHN
IRS990/Form990PartVIISectionAGrp/PersonNm9KLEINER PAUL
IRS990/Form990PartVIISectionAGrp/PersonNm10LEMKE MARK
IRS990/Form990PartVIISectionAGrp/PersonNm11LUBER FRED
IRS990/Form990PartVIISectionAGrp/PersonNm12Macareno Amelia E
IRS990/Form990PartVIISectionAGrp/PersonNm13Marcoux Richard
IRS990/Form990PartVIISectionAGrp/PersonNm14Matson Martin
IRS990/Form990PartVIISectionAGrp/PersonNm15MONNAT ROBERT B
IRS990/Form990PartVIISectionAGrp/PersonNm16O'NEILL THOMAS J
IRS990/Form990PartVIISectionAGrp/PersonNm17PENMAN JULIE A
IRS990/Form990PartVIISectionAGrp/PersonNm18rIVERA PERFECTO
IRS990/Form990PartVIISectionAGrp/PersonNm19Sheehy Timothy
IRS990/Form990PartVIISectionAGrp/PersonNm20TALBOTT ROBIN
IRS990/Form990PartVIISectionAGrp/PersonNm21Walsh Patrick G
IRS990/Form990PartVIISectionAGrp/PersonNm22MURPHY MICHAEL
IRS990/Form990PartVIISectionAGrp/PersonNm23Zale Thomas
IRS990/Form990PartVIISectionAGrp/PersonNm24Miller John
IRS990/Form990PartVIISectionAGrp/PersonNm25LATONA DAVID E
IRS990/Form990PartVIISectionAGrp/PersonNm26Luber Tracy
IRS990/Form990PartVIISectionAGrp/PersonNm27Adams Tracy
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt200
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt2497333
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt25219159
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt2683591
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt2757355
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt250
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt260
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt270
IRS990/Form990PartVIISectionAGrp/TitleTxt0Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1director
IRS990/Form990PartVIISectionAGrp/TitleTxt2director
IRS990/Form990PartVIISectionAGrp/TitleTxt3director
IRS990/Form990PartVIISectionAGrp/TitleTxt4director
IRS990/Form990PartVIISectionAGrp/TitleTxt5director
IRS990/Form990PartVIISectionAGrp/TitleTxt6director
IRS990/Form990PartVIISectionAGrp/TitleTxt7director
IRS990/Form990PartVIISectionAGrp/TitleTxt8director
IRS990/Form990PartVIISectionAGrp/TitleTxt9director
IRS990/Form990PartVIISectionAGrp/TitleTxt10director
IRS990/Form990PartVIISectionAGrp/TitleTxt11director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13director
IRS990/Form990PartVIISectionAGrp/TitleTxt14director
IRS990/Form990PartVIISectionAGrp/TitleTxt15director
IRS990/Form990PartVIISectionAGrp/TitleTxt16director
IRS990/Form990PartVIISectionAGrp/TitleTxt17director
IRS990/Form990PartVIISectionAGrp/TitleTxt18director
IRS990/Form990PartVIISectionAGrp/TitleTxt19Chairman/Director
IRS990/Form990PartVIISectionAGrp/TitleTxt20director
IRS990/Form990PartVIISectionAGrp/TitleTxt21Director
IRS990/Form990PartVIISectionAGrp/TitleTxt22Director
IRS990/Form990PartVIISectionAGrp/TitleTxt23director
IRS990/Form990PartVIISectionAGrp/TitleTxt24Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt25President/Director
IRS990/Form990PartVIISectionAGrp/TitleTxt26Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt27Secretary
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr01971
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt025
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt067156
IRS990/GrantsToDomesticOrgsGrp/TotalAmt067156
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt05658112
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt023
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt0359
IRS990/InsuranceGrp/ProgramServicesAmt03234
IRS990/InsuranceGrp/TotalAmt03593
IRS990/IntangibleAssetsGrp/BOYAmt02300
IRS990/IntangibleAssetsGrp/EOYAmt01586
IRS990/InterestGrp/ManagementAndGeneralAmt056625
IRS990/InterestGrp/ProgramServicesAmt0509625
IRS990/InterestGrp/TotalAmt0566250
IRS990/InvestmentIncomeGrp/ExclusionAmt011942
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt011942
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt077038
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt077038
IRS990/IRPDocumentCnt012
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt086555
IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0327523
IRS990/LandBldgEquipCostOrOtherBssAmt0414078
IRS990/LegalDomicileStateCd0WI
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0The 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt015502401
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt024559598
IRS990/NetAssetsOrFundBalancesBOYAmt0197150712
IRS990/NetAssetsOrFundBalancesEOYAmt0210698940
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt023229
IRS990/OfficeExpensesGrp/ProgramServicesAmt0209061
IRS990/OfficeExpensesGrp/TotalAmt0232290
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt015259213
IRS990/OtherAssetsTotalGrp/EOYAmt025157724
IRS990/OtherChangesInNetAssetsAmt012083025
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt015886
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0142970
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0158856
IRS990/OtherExpensesGrp/Desc0Loan Loss Provision & G
IRS990/OtherExpensesGrp/Desc1Loan Closing and Servic
IRS990/OtherExpensesGrp/Desc2Project & Economic Deve
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt16106
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt24292
IRS990/OtherExpensesGrp/ProgramServicesAmt01372977
IRS990/OtherExpensesGrp/ProgramServicesAmt154953
IRS990/OtherExpensesGrp/ProgramServicesAmt238629
IRS990/OtherExpensesGrp/TotalAmt01525530
IRS990/OtherExpensesGrp/TotalAmt161059
IRS990/OtherExpensesGrp/TotalAmt242921
IRS990/OtherLiabilitiesGrp/BOYAmt01706362
IRS990/OtherLiabilitiesGrp/EOYAmt0475388
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0Other Income
IRS990/OtherRevenueMiscGrp/Desc1Miscellaneous Income
IRS990/OtherRevenueMiscGrp/ExclusionAmt042500
IRS990/OtherRevenueMiscGrp/ExclusionAmt126432
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt042500
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt126432
IRS990/OtherRevenueTotalAmt068932
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt036033
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0324297
IRS990/OtherSalariesAndWagesGrp/TotalAmt0360330
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0172315707
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0192828126
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06847
IRS990/PayrollTaxesGrp/ProgramServicesAmt061625
IRS990/PayrollTaxesGrp/TotalAmt068472
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt04806
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt043257
IRS990/PensionPlanContributionsGrp/TotalAmt048063
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt06500
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt06500
IRS990/PrincipalOfficerNm0David E Latona

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$236,573,789
Liabilities
$25,874,849
Net assets
$210,698,940
Revenue
$5,658,112
Expenses
$4,192,909
Net income
$1,465,203
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$139$51.6$87.9$7.24$7.07$0.17
2023Detailed filing. Detailed filing data is available for this year.$133$46.4$86.6$5.02$5.16$0.13
2022Detailed filing. Detailed filing data is available for this year.$134$40.1$94.1$4.04$3.90$0.15
2021Detailed filing. Detailed filing data is available for this year.$130$26.4$104$4.51$17.7$13.2
2020Detailed filing. Detailed filing data is available for this year.$157$22.1$135$4.69$3.46$1.23
2019Detailed filing. Detailed filing data is available for this year.$157$23.1$133$4.77$4.43$0.34
2018Detailed filing. Detailed filing data is available for this year.$165$18.5$146$4.62$7.87$3.25
2017Detailed filing. Detailed filing data is available for this year.$207$38.7$169$4.88$6.64$1.77
2016Detailed filing. Detailed filing data is available for this year.$242$30.0$212$6.12$3.23$2.89
2015Detailed filing. Detailed filing data is available for this year.$237$25.9$211$5.66$4.19$1.47
2014Detailed filing. Detailed filing data is available for this year.$217$19.4$197$5.10$2.55$2.55
2013Detailed filing. Detailed filing data is available for this year.$171$19.0$152$8.73$7.51$1.22
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$179$19.8$159$4.65
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$63.6$6.45$57.2$5.51
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$64.9$8.19$56.7$3.39