Civic Intelligence

Milwaukee Economic Development Corp

990 • Fiscal year 2018 • EIN 23-7129398

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 20, 2019

757 North Broadway No 600Milwaukee, WI 53202

(414) 269-1445

Siviq Scores

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

Liabilities / Assets

26th percentile

0.11x

Higher debt load relative to assets than 26% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

90th percentile

4.00x

Higher debt load relative to revenue than 90% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Net Margin

2nd percentile

-70%

Higher net margin than 2% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

11th percentile

$198,512

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Asset Growth

2nd percentile

-20%

Faster asset growth than 2% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

18th percentile

-5.4%

Faster revenue growth than 18% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Assets

Down

$164,881,387

Down $42,435,543 (-20%) from 2017

Net Assets

Down

$146,390,024

Down $22,228,541 (-13%) from 2017

Liabilities

Down

$18,491,363

Down $20,207,002 (-52%) from 2017

Revenue

Down

$4,617,324

Down $261,288 (-5.4%) from 2017

Expenses

Up

$7,869,738

Up $1,226,029 (+18%) from 2017

Net Income

Down

-$3,252,414

Down $1,487,317 (-84%) from 2017

Historical Trend

Balance Sheet Trend

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

2018

Assets$164,881,387
Liabilities$18,491,363
Net Assets$146,390,024

Operations Trend

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

2018

Revenue$4,617,324
Expenses$7,869,738
Net Income-$3,252,414
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 20, 2019
Return Version
2018v3.1
Gross Receipts
$4,617,324
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).

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$166,751,501$121,444,040▼ $45,307,461
Savings and Temporary Cash Investments$7,033,202$12,385,470▲ $5,352,268
Cash and Non-Interest-Bearing Accounts$6,959,329$4,616,083▼ $2,343,246
Investments Other Securities$351,038$326,038▼ $25,000
Land, Buildings, and Equipment, Net$296,343$245,754▼ $50,589
Accounts Receivable$111,260$32,478▼ $78,782
Intangible Assets$158$0▼ $158
Total Assets$207,316,930$164,881,387▼ $42,435,543
Other Assets Total$25,814,099$25,831,524▲ $17,425
Liabilities
Mortgage Notes Payable Secured by Investment Property$36,788,611$15,008,477▼ $21,780,134
Accounts Payable and Accrued Expenses$984,976$1,881,541▲ $896,565
Other Liabilities$762,253$1,442,036▲ $679,783
Escrow Account Liability$162,525$159,309▼ $3,216
Total Liabilities$38,698,365$18,491,363▼ $20,207,002
Net Assets / Fund Balance
Unrestricted Net Assets$162,540,885$140,060,963▼ $22,479,922
Temporarily Rstr Net Assets$6,077,680$6,329,061▲ $251,381
Total Net Assets Fund Balance$168,618,565$146,390,024▼ $22,228,541
Total Liabilities and Net Assets / Fund Balance$207,316,930$164,881,387▼ $42,435,543

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$137,667$89,742$227,409
Other Land Buildings$84,682$49,201$133,883
Equipment$23,405$92,142$115,547
Other Assets Org$103,550--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Latona David EPresident/director & SecretaryFT$144,005$54,507$198,512
Miller JohnVice President & TreasurerFT$106,790$31,805$138,595
Adams Tracy Through 318SecretaryFT$19,116$3,634$22,750
Luber Tracy Through 318TreasurerFT$21,338$1,080$22,418

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Davis & Kuelthau ScLegal111 E KILBOURN AVENUE, Milwaukee, WI 53202$143,208
Cohnreznick LLPAudit & Tax500 EAST PRATT STREET SUITE 400, Baltimore, MD 21202$133,580
Revenue and Support

Revenue Composition

Contributions and Grants
$33,000
Program Service Revenue
$4,504,616
Investment Income
$79,708
Other Revenue
$0
All Other Contributions
$33,000
Change in Net Assets
$-3,252,414
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,333,791
Salaries, Compensation, and Employee Benefits$1,454,759
Grants and Similar Amounts Paid$81,188
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$506,565$201,691-$708,256
Interest$594,360--$594,360
Current Officers, Directors, Trustees, and Key Employees$344,050$38,226-$382,276
Office Expenses$316,378$18,592-$334,970
Other Employee Benefits$159,308$44,933-$204,241
Fees for Services Accounting$35,385$155,444-$190,829
Fees for Services Legal$78,779$37,825-$116,604
Information Technology$102,947$6,765-$109,712
Occupancy$65,125$19,454-$84,579
Grants to Domestic Orgs$81,188--$81,188
Pension Plan Contributions$63,214$17,830-$81,044
Payroll Taxes$61,575$17,367-$78,942
Insurance$27,178$28,041-$55,219
Depreciation Depletion$40,768$12,177-$52,945
Advertising$31,249--$31,249
Fees for Services Other$18,324$5,473-$23,797
Conferences and Meetings$9,301$4,565-$13,866
Other Expenses$34,274$5,324-$5,324
Travel$3,482--$3,482
Total Functional Expenses$7,256,031$613,707$0$7,869,738
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Denmark Lq LLCOconomowoc, WI-Site Assessment Grant$7,342
Sohi Corner IncMilwaukee, WI-Site Assessment Grant$5,812
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
Cap Access Bank Loan Loss Reserve$1,416,916
Accrued Interest Payable$25,120
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 11 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 11 seats on the executive committee. The last two seats of the executive committee consist of class v directors. The 11 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.

Filing and Contact Details

Filer

Filer Name
Milwaukee Economic Development
EIN
23-7129398
Phone
4142691445
Address
757 NORTH BROADWAY NO 600, MILWAUKEE, WI 53202

Signing Officer

Name
David E Latona
Title
President
Phone
4142691445
Signed
2019-09-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David E Latona
Formed
1971
Legal Domicile
Wi
Voting Board Members
26
Independent Board Members
25
Employees
19
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:

Assignment of notes to investor members - cf ii-iv nmtc unwinds -18,850,000. Gain on redemption and investment in llc 49,510. Partnership distributions -166,776. Transfers of interest -8,861.

FORM 990, PART XII, LINE 2C:

No changes have been made from the prior year.

Financial Statement Notes

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 purposes 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.

Raw XML AppendixShowing 400 of 903 raw XML fields

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IRS990/ActivityOrMissionDesc0MEDC 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).
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IRS990/Desc0LENDING: MEDC 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 $798,713 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.
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1037096
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt160
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt170
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt180
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt190
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt200
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt210
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt220
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt230
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt240
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt250
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt263634
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt271080
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2831805
IRS990/Form990PartVIISectionAGrp/PersonNm0BARRETT TOM
IRS990/Form990PartVIISectionAGrp/PersonNm1BARTH STEVE
IRS990/Form990PartVIISectionAGrp/PersonNm2BROWN MARTHA L
IRS990/Form990PartVIISectionAGrp/PersonNm3CLARK DAVID D
IRS990/Form990PartVIISectionAGrp/PersonNm4GAMBOA IVAN
IRS990/Form990PartVIISectionAGrp/PersonNm5HALL DR EVE
IRS990/Form990PartVIISectionAGrp/PersonNm6HAMILTON ASHANTI
IRS990/Form990PartVIISectionAGrp/PersonNm7KENDRIX OSSIE
IRS990/Form990PartVIISectionAGrp/PersonNm8KESSLER DEBRA
IRS990/Form990PartVIISectionAGrp/PersonNm9KLEINER PAUL
IRS990/Form990PartVIISectionAGrp/PersonNm10LATONA DAVID E
IRS990/Form990PartVIISectionAGrp/PersonNm11LUTZ SARAH
IRS990/Form990PartVIISectionAGrp/PersonNm12MACARENO AMELIA E
IRS990/Form990PartVIISectionAGrp/PersonNm13MARCOUX RICHARD
IRS990/Form990PartVIISectionAGrp/PersonNm14MATSON MARTIN
IRS990/Form990PartVIISectionAGrp/PersonNm15MELVIN ANDY
IRS990/Form990PartVIISectionAGrp/PersonNm16MITICH REBECCA
IRS990/Form990PartVIISectionAGrp/PersonNm17MURPHY MICHAEL
IRS990/Form990PartVIISectionAGrp/PersonNm18O'NEILL THOMAS J
IRS990/Form990PartVIISectionAGrp/PersonNm19RIVERA PERFECTO
IRS990/Form990PartVIISectionAGrp/PersonNm20ROBERTSON KENNETH
IRS990/Form990PartVIISectionAGrp/PersonNm21ROEMER JAMES
IRS990/Form990PartVIISectionAGrp/PersonNm22SCHMUTZER CRAIG
IRS990/Form990PartVIISectionAGrp/PersonNm23SHEEHY TIMOTHY
IRS990/Form990PartVIISectionAGrp/PersonNm24THAO MAY YER
IRS990/Form990PartVIISectionAGrp/PersonNm25ZALE THOMAS
IRS990/Form990PartVIISectionAGrp/PersonNm26ADAMS TRACY THROUGH 318
IRS990/Form990PartVIISectionAGrp/PersonNm27LUBER TRACY THROUGH 318
IRS990/Form990PartVIISectionAGrp/PersonNm28MILLER 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/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10161416
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/ReportableCompFromOrgAmt240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt250
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt2619116
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt2721338
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt28106790
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/ReportableCompFromRltdOrgAmt280
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/TitleTxt10PRESIDENT/DIRECTOR & SECRETARY
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/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23CHAIRMAN/DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt27TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt28VICE PRESIDENT & TREASURER
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01971
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt026
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt081188
IRS990/GrantsToDomesticOrgsGrp/TotalAmt081188
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt04617324
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt025
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt06765
IRS990/InformationTechnologyGrp/ProgramServicesAmt0102947
IRS990/InformationTechnologyGrp/TotalAmt0109712
IRS990/InsuranceGrp/ManagementAndGeneralAmt028041
IRS990/InsuranceGrp/ProgramServicesAmt027178
IRS990/InsuranceGrp/TotalAmt055219
IRS990/IntangibleAssetsGrp/BOYAmt0158
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/ProgramServicesAmt0594360
IRS990/InterestGrp/TotalAmt0594360
IRS990/InvestmentIncomeGrp/ExclusionAmt079708
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt079708
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0351038
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0326038
IRS990/IRPDocumentCnt0264
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0231085
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0296343
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0245754
IRS990/LandBldgEquipCostOrOtherBssAmt0476839
IRS990/LegalDomicileStateCd0WI
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0MEDC 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).
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt036788611
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt015008477
IRS990/NetAssetsOrFundBalancesBOYAmt0168618565
IRS990/NetAssetsOrFundBalancesEOYAmt0146390024
IRS990/NetUnrelatedBusTxblIncmAmt017349
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt019454
IRS990/OccupancyGrp/ProgramServicesAmt065125
IRS990/OccupancyGrp/TotalAmt084579
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt018592
IRS990/OfficeExpensesGrp/ProgramServicesAmt0316378
IRS990/OfficeExpensesGrp/TotalAmt0334970
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt025814099
IRS990/OtherAssetsTotalGrp/EOYAmt025831524
IRS990/OtherChangesInNetAssetsAmt0-18976127
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt044933
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0159308
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0204241
IRS990/OtherExpensesGrp/Desc0FORGIVENESS OF DEBT
IRS990/OtherExpensesGrp/Desc1LOAN LOSS PROVISION
IRS990/OtherExpensesGrp/Desc2LOAN CLOSING AND SERVIC
IRS990/OtherExpensesGrp/Desc3UNRELATED BUSINESS INCO
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05324
IRS990/OtherExpensesGrp/ProgramServicesAmt03057105
IRS990/OtherExpensesGrp/ProgramServicesAmt11625476
IRS990/OtherExpensesGrp/ProgramServicesAmt234274
IRS990/OtherExpensesGrp/TotalAmt03057105
IRS990/OtherExpensesGrp/TotalAmt11625476
IRS990/OtherExpensesGrp/TotalAmt234274
IRS990/OtherExpensesGrp/TotalAmt35324
IRS990/OtherLiabilitiesGrp/BOYAmt0762253
IRS990/OtherLiabilitiesGrp/EOYAmt01442036
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0201691

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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