Civic Intelligence

Milwaukee Economic Development Corp

990 • Fiscal year 2016 • EIN 23-7129398

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

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

25th percentile

0.12x

Higher debt load relative to assets than 25% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

91st percentile

4.90x

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

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Net Margin

93rd percentile

47%

Higher net margin than 93% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

53rd percentile

2.4%

Faster asset growth than 53% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

69th percentile

8.2%

Faster revenue growth than 69% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets25th percentile

Assets

Up

$242,134,829

Up $5,561,040 (+2.4%) from 2015

Net Assets

Up

$212,149,000

Up $1,450,060 (+0.7%) from 2015

Liabilities

Up

$29,985,829

Up $4,110,980 (+16%) from 2015

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin93rd percentile

Revenue

Up

$6,119,737

Up $461,625 (+8.2%) from 2015

Expenses

Down

$3,234,580

Down $958,329 (-23%) from 2015

Net Income

Up

$2,885,157

Up $1,419,954 (+97%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth53rd 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

2016

Assets$242,134,829
Liabilities$29,985,829
Net Assets$212,149,000
Open 2016 Filing

Operations Trend

Revenue Growth69th 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

2016

Revenue$6,119,737
Expenses$3,234,580
Net Income$2,885,157
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$6,119,737
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$192,828,126$201,605,987▲ $8,777,861
Cash and Non-Interest-Bearing Accounts$17,901,676$13,344,898▼ $4,556,778
Accounts Receivable$172,886$352,381▲ $179,495
Investments Other Securities$77,038$351,038▲ $274,000
Land, Buildings, and Equipment, Net$327,523$306,426▼ $21,097
Savings and Temporary Cash Investments$100,730$100,881▲ $151
Prepaid Expenses and Deferred Charges$6,500$0▼ $6,500
Intangible Assets$1,586$872▼ $714
Total Assets$236,573,789$242,134,829▲ $5,561,040
Other Assets Total$25,157,724$26,072,346▲ $914,622
Liabilities
Mortgage Notes Payable Secured by Investment Property$24,559,598$28,546,974▲ $3,987,376
Accounts Payable and Accrued Expenses$839,863$871,436▲ $31,573
Other Liabilities$475,388$567,419▲ $92,031
Total Liabilities$25,874,849$29,985,829▲ $4,110,980
Net Assets / Fund Balance
Unrestricted Net Assets$203,079,061$205,177,458▲ $2,098,397
Temporarily Rstr Net Assets$7,619,879$6,971,542▼ $648,337
Total Net Assets Fund Balance$210,698,940$212,149,000▲ $1,450,060
Total Liabilities and Net Assets / Fund Balance$236,573,789$242,134,829▲ $5,561,040

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$178,018$44,505$222,523
Other Land Buildings$99,501$22,993$122,494
Equipment$28,907$61,836$90,743
Other Assets Org$103,550--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Latona David EPresident/DirectorFT$163,568$89,915$253,483
Miller JohnVice PresidentFT$107,483$28,128$135,611
Luber TracyTreasurerFT$95,791$17,704$113,495
Adams TracySecretaryFT$59,991$9,510$69,501
Kleiner Pauldirector-$5,060$125$5,185

Board Members and Trustees

NameTitle
Sheehy TimothyChairman/Director
Barrett TomDirector
Barth Stevedirector
Brown Martha Ldirector
Clark David Ddirector
Galanis Johndirector
Gamboa Ivandirector
Hamilton Ashantidirector
Kessler DebraDirector
Lemke Markdirector
Macareno Amelia EDirector
Marcoux Richarddirector
Matson Martindirector
Mitich RebeccaDirector
Murphy MichaelDirector
O'NEILL THOMAS Jdirector
Robertson KennethDirector
Schmutzer CraigDirector
Talbott Robindirector
Walsh Patrick GDirector
Zale Thomasdirector
rIVERA PERFECTOdirector

Highest Paid Contractors

ContractorServicesLocationCompensation
JCP Construction LLCConstruction - Other Real Estate Owned1849 N Martin Luther Dr Suite 200, Milwaukee, WI 53212$248,833
Friebert Finerty & St JohnLegal330 East Kilbourn Avenue Suite 125, Milwaukee, WI 53202$226,688
Vangard Group LLCTenant Delivery Fee710 N Plankinton Avenue, Milwaukee, WI 53202$125,000
CohnReznick LLPAudit & Tax500 East Pratt Street Suite 400, Baltimore, MD 21202$108,675
Revenue and Support

Revenue Composition

Contributions and Grants
$38,011
Program Service Revenue
$6,033,480
Investment Income
$10,323
Other Revenue
$37,923
All Other Contributions
$38,011
Change in Net Assets
$2,885,157
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,723,012
Salaries, Compensation, and Employee Benefits$1,409,730
Grants and Similar Amounts Paid$101,838
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$608,660$67,629-$676,289
Current Officers, Directors, Trustees, and Key Employees$519,550$57,725-$577,275
Other Salaries and Wages$447,903$49,770-$497,673
Office Expenses$317,395$35,266-$352,661
Other Employee Benefits$175,898$19,544-$195,442
Fees for Services Legal$163,044$18,116-$181,160
Fees for Services Accounting$83,655$9,295-$92,950
Grants to Domestic Orgs$92,238--$92,238
Payroll Taxes$66,312$7,368-$73,680
Fees for Services Management$60,954$6,773-$67,727
Pension Plan Contributions$59,094$6,566-$65,660
Other Expenses$43,645$6,644-$43,645
Depreciation Depletion$39,144$4,349-$43,493
Advertising$36,052$4,005-$40,057
Insurance$27,833$3,093-$30,926
Grants to Domestic Individuals$9,600--$9,600
Total Functional Expenses$2,925,671$308,909$0$3,234,580
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
WP Property Acquisitions LLCMilwaukee, WI-Site Assessment Grant$25,000
LCM Funds 26 Prime LLCMilwaukee, WI-Site Assessment Grant$19,003
Denmark LQ LLCOconomowoc, WI-Site Assessment Grant$12,758
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$534,458
Closing Fee Deposit$32,961
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 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 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
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David E Latona
Formed
1971
Legal Domicile
Wi
Voting Board Members
24
Independent Board Members
22
Employees
19
Volunteers
23

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:

“Distributions to non-controlling members -1,978,306. Partnership Distributions 543,210.”

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 930 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/Desc0Loans: The Milwaukee Economic Development Corporation provides low interest 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 $1,978,306 of distributions of 99.99% of net income to Investor Members related to the New Market Tax Credits subsidiaries. MEDC only owns .01% of these funds. See also Schedules O and R for further information.
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt934525
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt160
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt170
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt180
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt200
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt210
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt220
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt230
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt249510
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2517704
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2628128
IRS990/Form990PartVIISectionAGrp/PersonNm0Barrett Tom
IRS990/Form990PartVIISectionAGrp/PersonNm1BARTH STEVE
IRS990/Form990PartVIISectionAGrp/PersonNm2BROWN MARTHA L
IRS990/Form990PartVIISectionAGrp/PersonNm3CLARK DAVID D
IRS990/Form990PartVIISectionAGrp/PersonNm4GALANIS JOHN
IRS990/Form990PartVIISectionAGrp/PersonNm5Gamboa Ivan
IRS990/Form990PartVIISectionAGrp/PersonNm6Hamilton Ashanti
IRS990/Form990PartVIISectionAGrp/PersonNm7Kessler Debra
IRS990/Form990PartVIISectionAGrp/PersonNm8KLEINER PAUL
IRS990/Form990PartVIISectionAGrp/PersonNm9LATONA DAVID E
IRS990/Form990PartVIISectionAGrp/PersonNm10LEMKE MARK
IRS990/Form990PartVIISectionAGrp/PersonNm11Macareno Amelia E
IRS990/Form990PartVIISectionAGrp/PersonNm12Marcoux Richard
IRS990/Form990PartVIISectionAGrp/PersonNm13Matson Martin
IRS990/Form990PartVIISectionAGrp/PersonNm14Mitich Rebecca
IRS990/Form990PartVIISectionAGrp/PersonNm15MURPHY MICHAEL
IRS990/Form990PartVIISectionAGrp/PersonNm16O'NEILL THOMAS J
IRS990/Form990PartVIISectionAGrp/PersonNm17rIVERA PERFECTO
IRS990/Form990PartVIISectionAGrp/PersonNm18Robertson Kenneth
IRS990/Form990PartVIISectionAGrp/PersonNm19Schmutzer Craig
IRS990/Form990PartVIISectionAGrp/PersonNm20Sheehy Timothy
IRS990/Form990PartVIISectionAGrp/PersonNm21TALBOTT ROBIN
IRS990/Form990PartVIISectionAGrp/PersonNm22Walsh Patrick G
IRS990/Form990PartVIISectionAGrp/PersonNm23Zale Thomas
IRS990/Form990PartVIISectionAGrp/PersonNm24Adams Tracy
IRS990/Form990PartVIISectionAGrp/PersonNm25Luber Tracy
IRS990/Form990PartVIISectionAGrp/PersonNm26Miller John
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/ReportableCompFromOrgAmt85060
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt9218958
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
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt2459991
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt2595791
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt26107483
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/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/TitleTxt9President/Director
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/TitleTxt19Director
IRS990/Form990PartVIISectionAGrp/TitleTxt20Chairman/Director
IRS990/Form990PartVIISectionAGrp/TitleTxt21director
IRS990/Form990PartVIISectionAGrp/TitleTxt22Director
IRS990/Form990PartVIISectionAGrp/TitleTxt23director
IRS990/Form990PartVIISectionAGrp/TitleTxt24Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt25Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt26Vice President
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr01971
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt024
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt09600
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt09600
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt092238
IRS990/GrantsToDomesticOrgsGrp/TotalAmt092238
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt06119737
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt022
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt03093
IRS990/InsuranceGrp/ProgramServicesAmt027833
IRS990/InsuranceGrp/TotalAmt030926
IRS990/IntangibleAssetsGrp/BOYAmt01586
IRS990/IntangibleAssetsGrp/EOYAmt0872
IRS990/InterestGrp/ManagementAndGeneralAmt067629
IRS990/InterestGrp/ProgramServicesAmt0608660
IRS990/InterestGrp/TotalAmt0676289
IRS990/InvestmentIncomeGrp/ExclusionAmt010323
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt010323
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt077038
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0351038
IRS990/IRPDocumentCnt0264
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0129334
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0327523
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0306426
IRS990/LandBldgEquipCostOrOtherBssAmt0435760
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
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IRS990/OfficeExpensesGrp/ProgramServicesAmt0317395
IRS990/OfficeExpensesGrp/TotalAmt0352661
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt026072346
IRS990/OtherChangesInNetAssetsAmt0-1435096
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0175898
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0195442
IRS990/OtherExpensesGrp/Desc0Loan Loss Provision & G
IRS990/OtherExpensesGrp/Desc1Loan Closing and Servic
IRS990/OtherExpensesGrp/Desc2Loss on sale of land
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt16644
IRS990/OtherExpensesGrp/ProgramServicesAmt0114895
IRS990/OtherExpensesGrp/ProgramServicesAmt159799
IRS990/OtherExpensesGrp/ProgramServicesAmt243645
IRS990/OtherExpensesGrp/TotalAmt0127661
IRS990/OtherExpensesGrp/TotalAmt166443
IRS990/OtherExpensesGrp/TotalAmt243645
IRS990/OtherLiabilitiesGrp/BOYAmt0475388
IRS990/OtherLiabilitiesGrp/EOYAmt0567419
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0Other Income
IRS990/OtherRevenueMiscGrp/Desc1Miscellaneous Income
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IRS990/OtherRevenueMiscGrp/ExclusionAmt1373
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt037550
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1373
IRS990/OtherRevenueTotalAmt037923
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt049770

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$242,134,829
Liabilities
$29,985,829
Net assets
$212,149,000
Revenue
$6,119,737
Expenses
$3,234,580
Net income
$2,885,157
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