Civic Intelligence

Milwaukee Economic Development Corp

990 • Fiscal year 2021 • EIN 23-7129398

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 14, 2022

757 North Broadway 600Milwaukee, WI 53202

(414) 269-1445

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.20x

Higher debt load relative to assets than 43% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

93rd percentile

5.86x

Higher debt load relative to revenue than 93% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Net Margin

1st percentile

-292%

Higher net margin than 1% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

20th percentile

$251,791

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 5.6% of source-year revenue.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Asset Growth

2nd percentile

-17%

Faster asset growth than 2% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

20th percentile

-3.9%

Faster revenue growth than 20% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Assets

Down

$129,937,785

Down $26,947,023 (-17%) from 2020

Net Assets

Down

$103,509,115

Down $31,267,229 (-23%) from 2020

Liabilities

Up

$26,428,670

Up $4,320,206 (+20%) from 2020

Revenue

Down

$4,507,113

Down $181,908 (-3.9%) from 2020

Expenses

Up

$17,683,799

Up $14,227,535 (+412%) from 2020

Net Income

Down

-$13,176,686

Down $14,409,443 (-1169%) from 2020

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

2021

Assets$129,937,785
Liabilities$26,428,670
Net Assets$103,509,115

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

2021

Revenue$4,507,113
Expenses$17,683,799
Net Income-$13,176,686
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.2
Gross Receipts
$4,507,113
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$103,789,659$79,443,729▼ $24,345,930
Savings and Temporary Cash Investments$14,410,340$24,055,050▲ $9,644,710
Cash and Non-Interest-Bearing Accounts$9,792,154$11,557,502▲ $1,765,348
Land, Buildings, and Equipment, Net$218,457$199,106▼ $19,351
Investments Other Securities$185,000$151,000▼ $34,000
Accounts Receivable$399,034$70,736▼ $328,298
Total Assets$156,884,808$129,937,785▼ $26,947,023
Other Assets Total$28,090,164$14,460,662▼ $13,629,502
Liabilities
Mortgage Notes Payable Secured by Investment Property$16,752,392$15,748,189▼ $1,004,203
Accounts Payable and Accrued Expenses$3,279,178$8,282,860▲ $5,003,682
Other Liabilities$2,076,894$2,397,621▲ $320,727
Total Liabilities$22,108,464$26,428,670▲ $4,320,206
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$125,957,179$93,867,851▼ $32,089,328
Net Assets With Donor Restrictions$8,819,165$9,641,264▲ $822,099
Total Net Assets Fund Balance$134,776,344$103,509,115▼ $31,267,229
Total Liabilities and Net Assets / Fund Balance$156,884,808$129,937,785▼ $26,947,023

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$73,283$162,277$235,560
Equipment$70,629$133,623$204,252
Other Land Buildings$55,194$89,928$145,122
Other Assets Org$2,018,840--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Latona David EPresident & Secretary/direFT$168,496$83,295$251,791
Miller JohnVice President & TreasurerFT$132,671$40,502$173,173
Baka LisaTeam LeaderFT$100,873$13,664$114,537

Board Members and Trustees

NameTitle
Sheehy TimothyChairman/director
Barth SteveDirector
Bauer GregDirector
Feagles WilliamDirector
Gamboa IvanDirector
Hall Dr EveDirector
Hazod JohnDirector
Johnson CavalierDirector
Kelsey BrennDirector
Kessler DebraDirector
Kleiner PaulDirector
Lutz SarahDirector
Macareno Amelia EDirector
Melvin AndyDirector
Mitich RebeccaDirector
Murphy MichaelDirector
O'NEILL THOMAS JDirector
Rivera PerfectoDirector
Robertson KennethDirector
Roemer JamesDirector
Schmutzer CraigDirector
Stilp GinaDirector
Zale ThomasDirector
Zastrow NateDirector
Barrett TomDirector Through 12/23/2021
Kendrix OssieDirector Through 5/19/2021
Clark David DDirector Through 5/26/2021
Thao May YerDirector Through 9/22/2021

Highest Paid Contractors

ContractorServicesLocationCompensation
Davis & Kuelthau ScLegal111 E KILBOURN AVENUE, Milwaukee, WI 53202$169,022
Revenue and Support

Revenue Composition

Contributions and Grants
$282,587
Program Service Revenue
$4,052,735
Investment Income
$171,791
Other Revenue
$0
Change in Net Assets
$-13,176,686
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$16,128,498
Salaries, Compensation, and Employee Benefits$1,555,301
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$784,580$87,176-$871,756
Other Salaries and Wages$629,765$69,974-$699,739
Interest$596,324--$596,324
Other Expenses$571,780--$571,780
Current Officers, Directors, Trustees, and Key Employees$382,467$42,496-$424,963
Other Employee Benefits$248,241$27,582-$275,823
Fees for Services Accounting-$129,070-$129,070
Fees for Services Legal-$114,430-$114,430
Pension Plan Contributions$79,262$8,807-$88,069
Depreciation Depletion$67,209$7,468-$74,677
Insurance$60,293$6,699-$66,992
Payroll Taxes$60,036$6,671-$66,707
Advertising$21,469--$21,469
Total Functional Expenses$17,183,426$500,373$0$17,683,799
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$2,345,318
Accrued Interest Payable$52,303
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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 1A

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 four classes of directors. The class i and ii directors comprise 9 of 11 seats on the executive committee. The last two seats of the executive committee consist of class iii 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

All directors and staff must review and sign the conflict policy. Conflicts must be disclosed immediately to the president and/or the chair. Forms are updated by staff annually, by the directors at the renewal of their term.

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 2020. 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 600, MILWAUKEE, WI 53202

Signing Officer

Name
David E Latona
Title
President
Phone
4142691445
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David E Latona
Formed
1971
Legal Domicile
Wi
Voting Board Members
25
Independent Board Members
24
Employees
13
Volunteers
24

Preparer

Firm
Baker Tilly US 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:

Partnership distributions 292,957. Assignment of assets -18,381,500. Transfer of interest -2,000.

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.

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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/Form990PartVIISectionAGrp/OtherCompensationAmt270
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt280
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2930752
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt3013664
IRS990/Form990PartVIISectionAGrp/PersonNm0LATONA DAVID E
IRS990/Form990PartVIISectionAGrp/PersonNm1JOHNSON CAVALIER
IRS990/Form990PartVIISectionAGrp/PersonNm2BARTH STEVE
IRS990/Form990PartVIISectionAGrp/PersonNm3BAUER GREG
IRS990/Form990PartVIISectionAGrp/PersonNm4FEAGLES WILLIAM
IRS990/Form990PartVIISectionAGrp/PersonNm5GAMBOA IVAN
IRS990/Form990PartVIISectionAGrp/PersonNm6HALL DR EVE
IRS990/Form990PartVIISectionAGrp/PersonNm7HAZOD JOHN
IRS990/Form990PartVIISectionAGrp/PersonNm8KESSLER DEBRA
IRS990/Form990PartVIISectionAGrp/PersonNm9KLEINER PAUL
IRS990/Form990PartVIISectionAGrp/PersonNm10LUTZ SARAH
IRS990/Form990PartVIISectionAGrp/PersonNm11MACARENO AMELIA E
IRS990/Form990PartVIISectionAGrp/PersonNm12MELVIN ANDY
IRS990/Form990PartVIISectionAGrp/PersonNm13MITICH REBECCA
IRS990/Form990PartVIISectionAGrp/PersonNm14MURPHY MICHAEL
IRS990/Form990PartVIISectionAGrp/PersonNm15O'NEILL THOMAS J
IRS990/Form990PartVIISectionAGrp/PersonNm16RIVERA PERFECTO
IRS990/Form990PartVIISectionAGrp/PersonNm17ROBERTSON KENNETH
IRS990/Form990PartVIISectionAGrp/PersonNm18ROEMER JAMES
IRS990/Form990PartVIISectionAGrp/PersonNm19SCHMUTZER CRAIG
IRS990/Form990PartVIISectionAGrp/PersonNm20SHEEHY TIMOTHY
IRS990/Form990PartVIISectionAGrp/PersonNm21ZALE THOMAS
IRS990/Form990PartVIISectionAGrp/PersonNm22ZASTROW NATE
IRS990/Form990PartVIISectionAGrp/PersonNm23STILP GINA
IRS990/Form990PartVIISectionAGrp/PersonNm24KELSEY BRENN
IRS990/Form990PartVIISectionAGrp/PersonNm25BARRETT TOM
IRS990/Form990PartVIISectionAGrp/PersonNm26CLARK DAVID D
IRS990/Form990PartVIISectionAGrp/PersonNm27THAO MAY YER
IRS990/Form990PartVIISectionAGrp/PersonNm28KENDRIX OSSIE
IRS990/Form990PartVIISectionAGrp/PersonNm29MILLER JOHN
IRS990/Form990PartVIISectionAGrp/PersonNm30BAKA LISA
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt0217731
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
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt250
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt260
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt270
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt280
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt29142421
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30100873
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/ReportableCompFromRltdOrgAmt290
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt300
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & SECRETARY/DIRE
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/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20CHAIRMAN/DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR THROUGH 12/23/2021
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR THROUGH 5/26/2021
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR THROUGH 9/22/2021
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR THROUGH 5/19/2021
IRS990/Form990PartVIISectionAGrp/TitleTxt29VICE PRESIDENT & TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt30TEAM LEADER
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr01971
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt025
IRS990/GovernmentGrantsAmt0282587
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt04507113
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt024
IRS990/IndivRcvdGreaterThan100KCnt03
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt06699
IRS990/InsuranceGrp/ProgramServicesAmt060293
IRS990/InsuranceGrp/TotalAmt066992
IRS990/InterestGrp/ProgramServicesAmt0596324
IRS990/InterestGrp/TotalAmt0596324
IRS990/InvestmentIncomeGrp/ExclusionAmt0171791
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0171791
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0185000
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0151000
IRS990/IRPDocumentCnt0618
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0385828
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0218457
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0199106
IRS990/LandBldgEquipCostOrOtherBssAmt0584934
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/BOYAmt016752392
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt015748189
IRS990/NetAssetsOrFundBalancesBOYAmt0134776344
IRS990/NetAssetsOrFundBalancesEOYAmt0103509115
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0125957179
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt093867851
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt087176
IRS990/OfficeExpensesGrp/ProgramServicesAmt0784580
IRS990/OfficeExpensesGrp/TotalAmt0871756
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt028090164
IRS990/OtherAssetsTotalGrp/EOYAmt014460662
IRS990/OtherChangesInNetAssetsAmt0-18090543
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt027582
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0248241
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0275823
IRS990/OtherExpensesGrp/Desc0LOSS ON FORGIVENESS OF
IRS990/OtherExpensesGrp/Desc1LOAN LOSS PROVISION
IRS990/OtherExpensesGrp/ProgramServicesAmt013682000
IRS990/OtherExpensesGrp/ProgramServicesAmt1571780
IRS990/OtherExpensesGrp/TotalAmt013682000
IRS990/OtherExpensesGrp/TotalAmt1571780
IRS990/OtherLiabilitiesGrp/BOYAmt02076894
IRS990/OtherLiabilitiesGrp/EOYAmt02397621
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt069974
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0629765
IRS990/OtherSalariesAndWagesGrp/TotalAmt0699739
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0103789659
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt079443729
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06671
IRS990/PayrollTaxesGrp/ProgramServicesAmt060036
IRS990/PayrollTaxesGrp/TotalAmt066707
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt08807
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt079262
IRS990/PensionPlanContributionsGrp/TotalAmt088069
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0DAVID E LATONA
IRS990/ProfessionalFundraisingInd00

Document Assets

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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