Civic Intelligence

Langlade County Economic Development Corporation

990 • Fiscal year 2018 • EIN 26-2179693

Jan 01, 2018 to Dec 31, 2018 • Filed on Apr 04, 2019

312 Forrest AvenueAntigo, WI 54409

(715) 623-2085

Siviq Scores

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

Liabilities / Assets

71st percentile

0.04x

Higher debt load relative to assets than 71% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

76th percentile

0.04x

Higher debt load relative to revenue than 76% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

38th percentile

-1.0%

Higher net margin than 38% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

94th percentile

$58,325

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 29.3% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

44th percentile

-0.7%

Faster asset growth than 44% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

64th percentile

11%

Faster revenue growth than 64% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Down

$248,130

Down $1,700 (-0.7%) from 2017

Net Assets

Down

$239,352

Down $2,044 (-0.8%) from 2017

Liabilities

Up

$8,778

Up $344 (+4.1%) from 2017

Revenue

Up

$198,915

Up $19,368 (+11%) from 2017

Expenses

Up

$200,959

Up $2,687 (+1.4%) from 2017

Net Income

Up

-$2,044

Up $16,681 (+89%) from 2017

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2010: $306,934Liabilities 2010: $6,686Net Assets 2010: $300,2482010Assets 2012: $157,473Liabilities 2012: $5,515Net Assets 2012: $151,9582012Assets 2013: $168,899Liabilities 2013: $10,385Net Assets 2013: $158,5142013Assets 2014: $248,466Liabilities 2014: $8,320Net Assets 2014: $240,1462014Assets 2015: $255,446Liabilities 2015: $9,671Net Assets 2015: $245,7752015Assets 2016: $267,857Liabilities 2016: $7,736Net Assets 2016: $260,1212016Assets 2017: $249,830Liabilities 2017: $8,434Net Assets 2017: $241,3962017Assets 2018: $248,130Liabilities 2018: $8,778Net Assets 2018: $239,3522018Assets 2019: $213,223Liabilities 2019: $8,792Net Assets 2019: $204,4312019Assets 2020: $861,092Liabilities 2020: $13,227Net Assets 2020: $847,8652020Assets 2021: $815,613Liabilities 2021: $15,678Net Assets 2021: $799,9352021Assets 2022: $863,068Liabilities 2022: $115,254Net Assets 2022: $747,8142022Assets 2023: $872,089Liabilities 2023: $105,974Net Assets 2023: $766,1152023Assets 2024: $915,557Liabilities 2024: $87,154Net Assets 2024: $828,4032024

Highlighted filing

2018

Assets$248,130
Liabilities$8,778
Net Assets$239,352

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2010: $159,5022010Expenses 2012: $159,2952012Revenue 2013: $199,375Expenses 2013: $192,819Net Income 2013: $6,5562013Revenue 2014: $271,769Expenses 2014: $190,137Net Income 2014: $81,6322014Revenue 2015: $175,284Expenses 2015: $169,655Net Income 2015: $5,6292015Revenue 2016: $200,595Expenses 2016: $186,249Net Income 2016: $14,3462016Revenue 2017: $179,547Expenses 2017: $198,272Net Income 2017: -$18,7252017Revenue 2018: $198,915Expenses 2018: $200,959Net Income 2018: -$2,0442018Revenue 2019: $190,671Expenses 2019: $225,589Net Income 2019: -$34,9182019Revenue 2020: $884,382Expenses 2020: $240,948Net Income 2020: $643,4342020Revenue 2021: $248,468Expenses 2021: $296,398Net Income 2021: -$47,9302021Revenue 2022: $310,636Expenses 2022: $362,757Net Income 2022: -$52,1212022Revenue 2023: $391,544Expenses 2023: $373,243Net Income 2023: $18,3012023Revenue 2024: $429,413Expenses 2024: $367,125Net Income 2024: $62,2882024

Highlighted filing

2018

Revenue$198,915
Expenses$200,959
Net Income-$2,044
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Apr 4, 2019
Return Version
2018v3.1
Gross Receipts
$198,915
Mission and Program Overview

Mission

The purpose for the langlade county economic development corporation is exclusively for the civic betterment and economic development of langlade county, wisconsin, through the attraction and expansion of new and existing industrial, recreational and commercial enterprises.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$232,275$217,667▼ $14,608
Accounts Receivable-$11,585-
Cash and Non-Interest-Bearing Accounts$3,632$6,446▲ $2,814
Prepaid Expenses and Deferred Charges$7,920$5,557▼ $2,363
Total Assets$249,830$248,130▼ $1,700
Other Assets Total$6,003$6,875▲ $872
Liabilities
Accounts Payable and Accrued Expenses$8,434$8,778▲ $344
Total Liabilities$8,434$8,778▲ $344
Net Assets / Fund Balance
Unrestricted Net Assets$225,169$207,780▼ $17,389
Temporarily Rstr Net Assets$16,227$31,572▲ $15,345
Total Net Assets Fund Balance$241,396$239,352▼ $2,044
Total Liabilities and Net Assets / Fund Balance$249,830$248,130▼ $1,700

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$3,363$3,363
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Angela CloseExecutive DiFT$52,688$5,637$58,325

Board Members and Trustees

NameTitle
Andy MerryPresident
Bill LivingstonDirector
Brady KossDirector
Fred WestphalDirector
Michael HunterDirector
Ron NyeDirector
Steve WilderDirector
Thomas GallenbergDirector
William BrandtDirector
Warren WagnerSecretary/tr
Thomas BauknechtVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$176,000
Program Service Revenue
$18,750
Investment Income
$830
Other Revenue
$3,335
All Other Contributions
$26,000
Change in Net Assets
$-2,044
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$130,941
Other Expenses$68,018
Grants and Similar Amounts Paid$2,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$53,076$5,249-$58,325
Other Salaries and Wages$31,730$3,138-$34,868
Other Employee Benefits$26,739$2,644-$29,383
Advertising$18,363--$18,363
Fees for Services Other-$10,320-$10,320
Travel$5,915$585-$6,500
Payroll Taxes$5,687$562-$6,249
Fees for Services Accounting-$4,933-$4,933
Information Technology$4,611--$4,611
Occupancy$3,862$382-$4,244
Conferences and Meetings$3,270$136-$3,406
Insurance$2,302$228-$2,530
Pension Plan Contributions$1,925$191-$2,116
Grants to Domestic Individuals$2,000--$2,000
Depreciation Depletion$1,641$162-$1,803
Office Expenses$1,621$160-$1,781
Other Expenses$2,400$1,370-$1,370
Fees for Services Legal$502--$502
Total Functional Expenses$170,899$30,060$0$200,959
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The executive director and board of directors review and approve the return prior to filing.

Form 990, Page 6, Part VI, Line 12C

Each interested person, including members of a committee with board delegated powers, shall sign annually a statement which affirms that such person: (a) has received a copy of the the policy, (b) has read and understands the policy, (c) has agreed to comply with the policy, and (d) understands that the organization is a charitable organization, and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt puposes. When a potential conflict arises, the interested person communicates to the board the potential conflict and the board reviews the conflict and documents their decision in the official minutes of the organzation. The board enforces the decision.

Form 990, Page 6, Part VI, Line 19

Governing documents including annual form 990 and application 1023 are made available upon request.

Filing and Contact Details

Filer

Filer Name
Langlade County Economic
EIN
26-2179693
Phone
7156232085
Address
312 FORREST AVENUE, ANTIGO, WI 54409

Signing Officer

Name
Andy Merry
Title
President
Phone
7156232085
Signed
2019-04-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andy Merry
Formed
2007
Legal Domicile
Wi
Voting Board Members
11
Independent Board Members
11
Employees
2
Volunteers
11

Preparer

Firm
Kerberrose Sc
Address
115 E 5TH ST, SHAWANO, WI 54166
Preparer
Karen Kerber CPA
Phone
7155269400
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The purpose for the langlade county economic development corporation is exclusively for the civic betterment and economic development of langlade county, wisconsin, through the attraction and expansion of new and existing industrial, recreational and commercial enterprises.

Financial Statement Notes

Schedule D, Page 3, Part X

The organization is a charitable organization under section 501(c)(3) of the internal revenue code, and thus is exempt from income taxes. Gifts, grants and bequests are deductible by donors within limitations of the internal revenue code. The organization is subject to a tax on income from any unrelated activities. The organization continually evaluates its tax positions, changes in tax law and new authoritative rulings for potential implications to its tax status. The organization's federal returns are subject to examination generally for three years after they are filed and its state returns generally for four years after they are filed. The organization has not identified any income it would consider to be unrelated business income.

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IRS990/PrincipalOfficerNm0ANDY MERRY
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYProgramServiceRevenueAmt012925
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IRS990/PYSalariesCompEmpBnftPaidAmt0124709
IRS990/PYTotalExpensesAmt0198272
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-2044
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt03000
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0217667
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 585
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0166000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0166000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0166200
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0161200
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0835400
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0830
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0622
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0470
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0409
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0348
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt035010
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IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/PublicSupportPY170Pct00.94960
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IRS990ScheduleA/SubstantialContributorsTotAmt058227
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0176000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0166000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0166000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0166200
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0161200
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0835400
IRS990ScheduleA/TotalSupportAmt0838664
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03363
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03363
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A CHARITABLE ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND THUS IS EXEMPT FROM INCOME TAXES. GIFTS, GRANTS AND BEQUESTS ARE DEDUCTIBLE BY DONORS WITHIN LIMITATIONS OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS SUBJECT TO A TAX ON INCOME FROM ANY UNRELATED ACTIVITIES. THE ORGANIZATION CONTINUALLY EVALUATES ITS TAX POSITIONS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS FOR POTENTIAL IMPLICATIONS TO ITS TAX STATUS. THE ORGANIZATION'S FEDERAL RETURNS ARE SUBJECT TO EXAMINATION GENERALLY FOR THREE YEARS AFTER THEY ARE FILED AND ITS STATE RETURNS GENERALLY FOR FOUR YEARS AFTER THEY ARE FILED. THE ORGANIZATION HAS NOT IDENTIFIED ANY INCOME IT WOULD CONSIDER TO BE UNRELATED BUSINESS INCOME.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PURPOSE FOR THE LANGLADE COUNTY ECONOMIC DEVELOPMENT CORPORATION IS EXCLUSIVELY FOR THE CIVIC BETTERMENT AND ECONOMIC DEVELOPMENT OF LANGLADE COUNTY, WISCONSIN, THROUGH THE ATTRACTION AND EXPANSION OF NEW AND EXISTING INDUSTRIAL, RECREATIONAL AND COMMERCIAL ENTERPRISES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE DIRECTOR AND BOARD OF DIRECTORS REVIEW AND APPROVE THE RETURN PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH INTERESTED PERSON, INCLUDING MEMBERS OF A COMMITTEE WITH BOARD DELEGATED POWERS, SHALL SIGN ANNUALLY A STATEMENT WHICH AFFIRMS THAT SUCH PERSON: (A) HAS RECEIVED A COPY OF THE THE POLICY, (B) HAS READ AND UNDERSTANDS THE POLICY, (C) HAS AGREED TO COMPLY WITH THE POLICY, AND (D) UNDERSTANDS THAT THE ORGANIZATION IS A CHARITABLE ORGANIZATION, AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PUPOSES. WHEN A POTENTIAL CONFLICT ARISES, THE INTERESTED PERSON COMMUNICATES TO THE BOARD THE POTENTIAL CONFLICT AND THE BOARD REVIEWS THE CONFLICT AND DOCUMENTS THEIR DECISION IN THE OFFICIAL MINUTES OF THE ORGANZATION. THE BOARD ENFORCES THE DECISION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS INCLUDING ANNUAL FORM 990 AND APPLICATION 1023 ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/StatesWhereCopyOfReturnIsFldCd0WI
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0170899
IRS990/TotalFunctionalExpensesGrp/TotalAmt0200959
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08434
IRS990/TotalLiabilitiesEOYAmt08778
IRS990/TotalLiabilitiesGrp/BOYAmt08434
IRS990/TotalLiabilitiesGrp/EOYAmt08778
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0241396
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0239352
IRS990/TotalOtherCompensationAmt05637
IRS990/TotalProgramServiceExpensesAmt0170899
IRS990/TotalProgramServiceRevenueAmt018750
IRS990/TotalReportableCompFromOrgAmt052688
IRS990/TotalRevenueGrp/ExclusionAmt0830
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt022085
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0198915
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0249830
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0248130
IRS990/TravelGrp/ManagementAndGeneralAmt0585
IRS990/TravelGrp/ProgramServicesAmt05915
IRS990/TravelGrp/TotalAmt06500
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0225169
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0207780
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0N4137 COUNTY ROAD I
IRS990/USAddress/CityNm0ANTIGO
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd054409
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.LANGLADECOUNTY.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.16$0.87$8.28$4.29$3.67$0.62
2023Detailed filing. Detailed filing data is available for this year.$8.72$1.06$7.66$3.92$3.73$0.18
2022Detailed filing. Detailed filing data is available for this year.$8.63$1.15$7.48$3.11$3.63$0.52
2021Detailed filing. Detailed filing data is available for this year.$8.16$0.16$8.00$2.48$2.96$0.48
2020Detailed filing. Detailed filing data is available for this year.$8.61$0.13$8.48$8.84$2.41$6.43
2019Detailed filing. Detailed filing data is available for this year.$2.13$0.09$2.04$1.91$2.26$0.35
2018Detailed filing. Detailed filing data is available for this year.$2.48$0.09$2.39$1.99$2.01$0.02
2017Detailed filing. Detailed filing data is available for this year.$2.50$0.08$2.41$1.80$1.98$0.19
2016Detailed filing. Detailed filing data is available for this year.$2.68$0.08$2.60$2.01$1.86$0.14
2015Detailed filing. Detailed filing data is available for this year.$2.55$0.10$2.46$1.75$1.70$0.06
2014Detailed filing. Detailed filing data is available for this year.$2.48$0.08$2.40$2.72$1.90$0.82
2013Detailed filing. Detailed filing data is available for this year.$1.69$0.10$1.59$1.99$1.93$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.57$0.06$1.52$1.59
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.07$0.07$3.00$1.60