Civic Intelligence

Milwaukee Economic Development Corp

990 • Fiscal year 2022 • EIN 23-7129398

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 13, 2023

Organization ProfileWWW.MEDCONLINE.COM

View Organization Page

757 North Broadway 600Milwaukee, WI 53202

(414) 269-1440

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.30x

Higher debt load relative to assets than 53% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Liabilities / Revenue

95th percentile

9.92x

Higher debt load relative to revenue than 95% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Net Margin

45th percentile

3.7%

Higher net margin than 45% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

29th percentile

$318,731

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 7.9% of source-year revenue.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Asset Growth

67th percentile

3.3%

Faster asset growth than 67% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Revenue Growth

21st percentile

-10%

Faster revenue growth than 21% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Up

$134,203,800

Up $4,266,015 (+3.3%) from 2021

Net Assets

Down

$94,102,268

Down $9,406,847 (-9.1%) from 2021

Liabilities

Up

$40,101,532

Up $13,672,862 (+52%) from 2021

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin45th percentile

Revenue

Down

$4,043,772

Down $463,341 (-10%) from 2021

Expenses

Down

$3,895,449

Down $13,788,350 (-78%) from 2021

Net Income

Up

$148,323

Up $13,325,009 (+101%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth67th 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

2022

Assets$134,203,800
Liabilities$40,101,532
Net Assets$94,102,268
Open 2022 Filing

Operations Trend

Revenue Growth21st 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

2022

Revenue$4,043,772
Expenses$3,895,449
Net Income$148,323
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 13, 2023
Return Version
2022v5.0
Gross Receipts
$4,043,772
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$79,443,729$80,862,533▲ $1,418,804
Savings and Temporary Cash Investments$24,055,050$21,313,242▼ $2,741,808
Cash and Non-Interest-Bearing Accounts$11,557,502$17,194,643▲ $5,637,141
Accounts Receivable$70,736$166,802▲ $96,066
Land, Buildings, and Equipment, Net$199,106$143,569▼ $55,537
Investments Other Securities$151,000$117,000▼ $34,000
Total Assets$129,937,785$134,203,800▲ $4,266,015
Other Assets Total$14,460,662$14,406,011▼ $54,651
Liabilities
Mortgage Notes Payable Secured by Investment Property$15,748,189$26,509,901▲ $10,761,712
Accounts Payable and Accrued Expenses$8,282,860$10,931,807▲ $2,648,947
Other Liabilities$2,397,621$2,659,824▲ $262,203
Total Liabilities$26,428,670$40,101,532▲ $13,672,862
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$93,867,851$84,981,452▼ $8,886,399
Net Assets With Donor Restrictions$9,641,264$9,120,816▼ $520,448
Total Net Assets Fund Balance$103,509,115$94,102,268▼ $9,406,847
Total Liabilities and Net Assets / Fund Balance$129,937,785$134,203,800▲ $4,266,015

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$48,878$186,682$235,560
Equipment$54,009$154,234$208,243
Other Land Buildings$40,682$104,440$145,122
Other Assets Org$2,022,368--
Compensation and Service Providers
Top Officer Pay29th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Latona David EPresident & Secretary/directorFT$195,943$122,788$318,731
Miller JohnVice President & TreasurerFT$135,106$79,867$214,973
Eick SusanRelationship ManagerFT$103,857$17,784$121,641

Board Members and Trustees

NameTitle
O'NEILL THOMAS JChair/director
Barth SteveDirector
Bauer GregDirector
Brenn KelseyDirector
Feagles WilliamDirector
Gamboa IvanDirector
Hall Dr EveDirector
Hazod JohnDirector
Johnson CavalierDirector
Kessler DebraDirector
Kleiner PaulDirector
Lutz SarahDirector
Macareno Amelia EDirector
Melvin AndyDirector
Mitich RebeccaDirector
Murphy MichaelDirector
O'BRIEN PATRICKDirector
Rivera PerfectoDirector
Robertson KennethDirector
Roemer JamesDirector
SchmutzercraigDirector
Stilp GinaDirector
Zale ThomasDirector
Zastrow NateDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Davis & Kuelthau ScLegal111 E KILBOURN AVENUE, Milwaukee, WI 53202$185,880
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,586,421
Investment Income
$457,351
Other Revenue
$0
Change in Net Assets
$148,323
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,046,995
Salaries, Compensation, and Employee Benefits$1,848,454
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$766,045$85,111-$851,156
Office Expenses$628,575$61,407-$689,982
Current Officers, Directors, Trustees, and Key Employees$480,336$53,368-$533,704
Interest$441,081--$441,081
Other Expenses$386,354--$386,354
Other Employee Benefits$239,280$23,665-$262,945
Fees for Services Accounting-$161,482-$161,482
Fees for Services Legal-$152,248-$152,248
Pension Plan Contributions$102,682$10,155-$112,837
Payroll Taxes$79,909$7,903-$87,812
Advertising$81,995--$81,995
Insurance$74,325--$74,325
Depreciation Depletion$54,171$5,357-$59,528
Total Functional Expenses$3,334,753$560,696$0$3,895,449
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$2,659,824
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
4142691440
Address
757 NORTH BROADWAY 600, MILWAUKEE, WI 53202

Signing Officer

Name
David E Latona
Title
President
Phone
4142691440
Signed
2023-11-13
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
16
Volunteers
24

Preparer

Firm
Baker Tilly US Llp
Address
790 N WATER ST SUITE 2000, MILWAUKEE, WI 53202
Preparer
Troy Marine CPA
Phone
4147775500
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Partnership distributions 936,657. Loss on nmtc unwind put options -10,491,827.”

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. There are no uncertain tax positions for the corporation.”

Raw XML AppendixShowing 400 of 736 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt08282860
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt010931807
IRS990/AccountsReceivableGrp/BOYAmt070736
IRS990/AccountsReceivableGrp/EOYAmt0166802
IRS990/ActivitiesConductedPrtshpInd00
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).
IRS990/AdvertisingGrp/ProgramServicesAmt081995
IRS990/AdvertisingGrp/TotalAmt081995
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0DAVID E LATONA
IRS990/BooksInCareOfDetail/PhoneNum04142691445
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0757 NORTH BROADWAY SUITE 600
IRS990/BooksInCareOfDetail/USAddress/CityNm0MILWAUKEE
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0WI
IRS990/BooksInCareOfDetail/USAddress/ZIPCd053202
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt011557502
IRS990/CashNonInterestBearingGrp/EOYAmt017194643
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt053368
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt0480336
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0533704
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd01
IRS990/ContractorCompensationGrp/CompensationAmt0185880
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt0111 E KILBOURN AVENUE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0MILWAUKEE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0WI
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd053202
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0DAVIS & KUELTHAU SC
IRS990/ContractorCompensationGrp/ServicesDesc0LEGAL
IRS990/CreditCounselingInd01
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0457351
IRS990/CYOtherExpensesAmt02046995
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt03586421
IRS990/CYRevenuesLessExpensesAmt0148323
IRS990/CYSalariesCompEmpBnftPaidAmt01848454
IRS990/CYTotalExpensesAmt03895449
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt04043772
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt05357
IRS990/DepreciationDepletionGrp/ProgramServicesAmt054171
IRS990/DepreciationDepletionGrp/TotalAmt059528
IRS990/Desc0LENDING: MEDC PROVIDES GAP LOANS AT BELOW MARKET INTEREST RATES TO MILWAUKEE AREA BUSINESSES. MOST TIMES THERE IS A PARTNER BANK WHICH PROVIDES SOME OF THE PROJECT FINANCING. MEDC'S APPROACH TO LENDING REVOLVES AROUND TWO FUNDAMENTAL PRINCIPLES: SHARING RISK WITH ALL PARTICIPANTS IN A PROJECT AND PROVIDE LOANS WHERE THERE IS A GAP BETWEEN AVAILABLE DEBT AND EQUITY.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd01
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt09641264
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt09120816
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt016
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt03131499
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditPerformedInd01
IRS990/FederalGrantAuditRequiredInd01
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt0161482
IRS990/FeesForServicesAccountingGrp/TotalAmt0161482
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt0152248
IRS990/FeesForServicesLegalGrp/TotalAmt0152248
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt040.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt81.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt91.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt101.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt111.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt121.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt131.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt141.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt151.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt161.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt171.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt181.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt191.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt201.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt211.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt221.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt231.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt241.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt2540.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt2640.00
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd12X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd13X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd14X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd15X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd16X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd17X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd18X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd19X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd20X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd21X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd22X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd23X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd24X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt068336
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
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
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt190
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt200
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt210
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt220
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt230
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt240
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2559367
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2617784
IRS990/Form990PartVIISectionAGrp/PersonNm0LATONA DAVID E
IRS990/Form990PartVIISectionAGrp/PersonNm1O'NEILL THOMAS J
IRS990/Form990PartVIISectionAGrp/PersonNm2BARTH STEVE
IRS990/Form990PartVIISectionAGrp/PersonNm3BAUER GREG
IRS990/Form990PartVIISectionAGrp/PersonNm4BRENN KELSEY
IRS990/Form990PartVIISectionAGrp/PersonNm5FEAGLES WILLIAM
IRS990/Form990PartVIISectionAGrp/PersonNm6GAMBOA IVAN
IRS990/Form990PartVIISectionAGrp/PersonNm7HALL DR EVE
IRS990/Form990PartVIISectionAGrp/PersonNm8HAZOD JOHN
IRS990/Form990PartVIISectionAGrp/PersonNm9JOHNSON CAVALIER
IRS990/Form990PartVIISectionAGrp/PersonNm10KESSLER DEBRA
IRS990/Form990PartVIISectionAGrp/PersonNm11KLEINER PAUL
IRS990/Form990PartVIISectionAGrp/PersonNm12LUTZ SARAH
IRS990/Form990PartVIISectionAGrp/PersonNm13MACARENO AMELIA E
IRS990/Form990PartVIISectionAGrp/PersonNm14MELVIN ANDY
IRS990/Form990PartVIISectionAGrp/PersonNm15MITICH REBECCA
IRS990/Form990PartVIISectionAGrp/PersonNm16MURPHY MICHAEL
IRS990/Form990PartVIISectionAGrp/PersonNm17O'BRIEN PATRICK
IRS990/Form990PartVIISectionAGrp/PersonNm18RIVERA PERFECTO
IRS990/Form990PartVIISectionAGrp/PersonNm19ROBERTSON KENNETH
IRS990/Form990PartVIISectionAGrp/PersonNm20ROEMER JAMES
IRS990/Form990PartVIISectionAGrp/PersonNm21SCHMUTZERCRAIG
IRS990/Form990PartVIISectionAGrp/PersonNm22STILP GINA
IRS990/Form990PartVIISectionAGrp/PersonNm23ZALE THOMAS
IRS990/Form990PartVIISectionAGrp/PersonNm24ZASTROW NATE
IRS990/Form990PartVIISectionAGrp/PersonNm25MILLER JOHN
IRS990/Form990PartVIISectionAGrp/PersonNm26EICK SUSAN
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt0250395
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/ReportableCompFromOrgAmt25155606
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt26103857
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/TitleTxt0PRESIDENT & SECRETARY/DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR/DIRECTOR
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/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25VICE PRESIDENT & TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt26RELATIONSHIP MANAGER
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr01971
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt025
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt04043772
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt024
IRS990/IndivRcvdGreaterThan100KCnt03
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt074325
IRS990/InsuranceGrp/TotalAmt074325
IRS990/InterestGrp/ProgramServicesAmt0441081
IRS990/InterestGrp/TotalAmt0441081
IRS990/InvestmentIncomeGrp/ExclusionAmt0457351
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0457351
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0151000
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0117000
IRS990/IRPDocumentCnt02287
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0445356
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0199106
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0143569
IRS990/LandBldgEquipCostOrOtherBssAmt0588925
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/BOYAmt015748189
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt026509901
IRS990/NetAssetsOrFundBalancesBOYAmt0103509115
IRS990/NetAssetsOrFundBalancesEOYAmt094102268
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt093867851
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt084981452
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt061407
IRS990/OfficeExpensesGrp/ProgramServicesAmt0628575
IRS990/OfficeExpensesGrp/TotalAmt0689982
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt014460662
IRS990/OtherAssetsTotalGrp/EOYAmt014406011
IRS990/OtherChangesInNetAssetsAmt0-9555170
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt023665
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0239280
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0262945
IRS990/OtherExpensesGrp/Desc0LOAN LOSS PROVISION
IRS990/OtherExpensesGrp/ProgramServicesAmt0386354
IRS990/OtherExpensesGrp/TotalAmt0386354
IRS990/OtherLiabilitiesGrp/BOYAmt02397621
IRS990/OtherLiabilitiesGrp/EOYAmt02659824
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt085111
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0766045
IRS990/OtherSalariesAndWagesGrp/TotalAmt0851156
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt079443729
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt080862533
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07903
IRS990/PayrollTaxesGrp/ProgramServicesAmt079909
IRS990/PayrollTaxesGrp/TotalAmt087812
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt010155
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0102682
IRS990/PensionPlanContributionsGrp/TotalAmt0112837
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0DAVID E LATONA
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1MANAGEMENT AND SERVICI
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03383167
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1203254
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03383167
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1203254
IRS990/ProgSrvcAccomActy2Grp/Desc0MEDC PROVIDED GRANT REVIEW SERVICES TO THE MILWAUKEE DEVELOPMENT CORPORATION FOR A PROGRAM IT WAS RUNNING FOR THE WEDC, THE WI TOMORROW MAIN STREET BOUNCEBACK GRANT. MEDC PROVIDED SERVICES OF GRANT REVIEW, PAYMENT PROCESSING.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0203254
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0203254
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0282587
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0171791
IRS990/PYOtherExpensesAmt016128498
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt04052735
IRS990/PYRevenuesLessExpensesAmt0-13176686
IRS990/PYSalariesCompEmpBnftPaidAmt01555301
IRS990/PYTotalExpensesAmt017683799
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04507113
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0148323
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$134,203,800
Liabilities
$40,101,532
Net assets
$94,102,268
Revenue
$4,043,772
Expenses
$3,895,449
Net income
$148,323
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