Civic Intelligence

Central Wisconsin Economic Development Fund Inc

990 • Fiscal year 2017 • EIN 26-4682326

Oct 01, 2016 to Sep 30, 2017 • Filed on Jan 18, 2018

2900 Hoover Road No Ste AStevens Point, WI 54481

(715) 343-7500

Siviq Scores

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

Liabilities / Assets

18th percentile

0.00x

Higher debt load relative to assets than 18% of similar nonprofits.

2017 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

37th percentile

0.11x

Higher debt load relative to revenue than 37% of similar nonprofits.

2017 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2017

Net Margin

2nd percentile

-294%

Higher net margin than 2% of similar nonprofits.

2017 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

27th percentile

$0

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2017

Asset Growth

13th percentile

-5.7%

Faster asset growth than 13% of similar nonprofits.

2017 filings • 501(c)4 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

14th percentile

-7.8%

Faster revenue growth than 14% of similar nonprofits.

2017 filings • 501(c)4 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Down

$11,705,587

Down $707,470 (-5.7%) from 2016

Net Assets

Down

$11,681,055

Down $641,575 (-5.2%) from 2016

Liabilities

Down

$24,532

Down $65,895 (-73%) from 2016

Revenue

Down

$217,905

Down $18,434 (-7.8%) from 2016

Expenses

Up

$859,480

Up $434,114 (+102%) from 2016

Net Income

Down

-$641,575

Down $452,548 (-239%) from 2016

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $12,840,523Liabilities 2010: $638,798Net Assets 2010: $12,201,7252010Assets 2012: $13,697,873Liabilities 2012: $542,215Net Assets 2012: $13,155,6582012Assets 2013: $13,288,921Liabilities 2013: $480,920Net Assets 2013: $12,808,0012013Assets 2014: $12,884,933Liabilities 2014: $179,667Net Assets 2014: $12,705,2662014Assets 2015: $12,597,760Liabilities 2015: $86,103Net Assets 2015: $12,511,6572015Assets 2016: $12,413,057Liabilities 2016: $90,427Net Assets 2016: $12,322,6302016Assets 2017: $11,705,587Liabilities 2017: $24,532Net Assets 2017: $11,681,0552017Assets 2018: $11,695,207Liabilities 2018: $22,352Net Assets 2018: $11,672,8552018Assets 2019: $11,792,559Liabilities 2019: $23,151Net Assets 2019: $11,769,4082019Assets 2020: $11,945,150Liabilities 2020: $0Net Assets 2020: $11,945,1502020Assets 2021: $12,149,735Liabilities 2021: $0Net Assets 2021: $12,149,7352021Assets 2022: $12,345,349Liabilities 2022: $0Net Assets 2022: $12,345,3492022Assets 2023: $12,661,703Liabilities 2023: $0Net Assets 2023: $12,661,7032023Assets 2025: $13,596,532Liabilities 2025: $0Net Assets 2025: $13,596,5322025

Highlighted filing

2017

Assets$11,705,587
Liabilities$24,532
Net Assets$11,681,055

Operations Trend

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

$1.0M$500K$0-$500K-$1.0MExpenses 2010: $342,1452010Expenses 2012: $482,4662012Expenses 2013: $584,4892013Revenue 2014: $223,373Expenses 2014: $326,108Net Income 2014: -$102,7352014Revenue 2015: $250,673Expenses 2015: $444,282Net Income 2015: -$193,6092015Revenue 2016: $236,339Expenses 2016: $425,366Net Income 2016: -$189,0272016Revenue 2017: $217,905Expenses 2017: $859,480Net Income 2017: -$641,5752017Revenue 2018: $276,074Expenses 2018: $284,274Net Income 2018: -$8,2002018Revenue 2019: $333,038Expenses 2019: $236,485Net Income 2019: $96,5532019Revenue 2020: $313,864Expenses 2020: $138,122Net Income 2020: $175,7422020Revenue 2021: $319,941Expenses 2021: $115,356Net Income 2021: $204,5852021Revenue 2022: $339,312Expenses 2022: $143,698Net Income 2022: $195,6142022Revenue 2023: $443,395Expenses 2023: $127,041Net Income 2023: $316,3542023Revenue 2025: $614,698Expenses 2025: $174,240Net Income 2025: $440,4582025

Highlighted filing

2017

Revenue$217,905
Expenses$859,480
Net Income-$641,575
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Jan 18, 2018
Return Version
2016v3.0
Gross Receipts
$217,905
Mission and Program Overview

Mission

To provide business loans that will create and retain permanent jobs with quality wages and benefits, to promote a diverse mix of employment opportunities, to perpetuate positive and proactive business climates which encourage the retention and expansion of existing businesses and to help attract desirable new businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$5,539,400$6,517,374▲ $977,974
Other Notes and Loans Receivable, Net$6,832,012$5,151,421▼ $1,680,591
Cash and Non-Interest-Bearing Accounts$25,095$25,686▲ $591
Prepaid Expenses and Deferred Charges$4,706$3,576▼ $1,130
Accounts Receivable$290$0▼ $290
Total Assets$12,413,057$11,705,587▼ $707,470
Other Assets Total$11,554$7,530▼ $4,024
Liabilities
Mortgage Notes Payable Secured by Investment Property$66,238$0▼ $66,238
Accounts Payable and Accrued Expenses$24,189$24,532▲ $343
Total Liabilities$90,427$24,532▼ $65,895
Net Assets / Fund Balance
Unrestricted Net Assets$12,322,630$11,681,055▼ $641,575
Total Net Assets Fund Balance$12,322,630$11,681,055▼ $641,575
Total Liabilities and Net Assets / Fund Balance$12,413,057$11,705,587▼ $707,470
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael OstrowskiPresident
Jason AngellVice President
Adam Rekauboard Member
Bob EganBoard Member
Charles KornackBoard Member
Dan GuildBoard Member
Gaylene Rhodenboard Member
James DeBaucheBoard Member
James WarsawBoard Member
Jeff GatesBoard Member
Ken Mauleboard Member
Patty DreierBoard Member
Paul Millanboard Member
Tanya Walsh-Laehnboard Member
Zach Vruwinkboard Member
Doug Mielkeboard Member (Thru May)
Richard HoldenSecretary
Jason GruenebergTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
CAP Services IncLoan Fund Administration2900 Hoover Road Ste A, Stevens Point, WI 54481$267,979
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$180,517
Investment Income
$37,388
Other Revenue
$0
Change in Net Assets
$-641,575

Audited Revenue Reconciliation

Revenue per Audited Statements
$217,905
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$217,905
Total Revenue per Form 990
$217,905
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$859,480
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$241,181$26,798-$267,979
Fees for Services Legal$4,392$4,392-$8,784
Fees for Services Accounting-$8,250-$8,250
Insurance-$5,706-$5,706
All Other Expenses$1,177--$1,177
Other Expenses$1,005--$1,005
Interest$160--$160
Total Functional Expenses$814,334$45,146$0$859,480

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$859,480
Total Expenses per Audited Statements$859,480
Total Expenses per Form 990$859,480
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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, Part VI, Section B, line 11B

The form 990 will be provided to all board members for review and approval prior to filing with the internal revenue service.

Form 990, Part VI, Section B, line 12C

Conflict of interest statements are completed or updated annually by the Board of Directors. Any individual with an actual or perceived conflict of interest is recused from discussion and voting on the matter to which the conflict relates.

Form 990, Part VI, Section C, line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Central Wisconsin Economic
EIN
26-4682326
Phone
7153437500
Address
2900 Hoover Road No Ste A, Stevens Point, WI 54481

Signing Officer

Name
Michael Ostrowski
Title
President
Phone
7153437500
Signed
2018-01-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Ostrowski
Formed
2009
Legal Domicile
Wi
Voting Board Members
17
Independent Board Members
17
Employees
0
Volunteers
25

Preparer

Firm
Wipfli LLP
Address
PO Box 8700, Madison, WI 53708-8700
Preparer
Jean Christensen
Phone
6082741980
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Loan servicing fees: Program service expenses 241,181. Management and general expenses 26,798. Fundraising expenses 0. Total expenses 267,979.

Financial Statement Notes

Part X, Line 2:

Central Wisconsin Economic Development Fund, Inc. (CWED) is required to assess whether it is more likely than not that a tax position will be sustained upon examination of the technical merits of the position, assuming the taxing authority has full knowledge of all information. If the tax position does not meet the more likely than not recognition threshold, the benefit of the tax position is not recognized in the financial statements. CWED recorded no assets or liabilities for uncertain tax positions or unrecognized tax benefits.

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IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt03
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0WI
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0To provide business loans that will create and retain permanent jobs with quality wages and benefits, to promote a diverse mix of employment opportunities, to perpetuate positive and proactive business climates which encourage the retention and expansion of existing businesses and to help attract desirable new businesses.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt066238
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt00
IRS990/NetAssetsOrFundBalancesBOYAmt012322630
IRS990/NetAssetsOrFundBalancesEOYAmt011681055
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt011554
IRS990/OtherAssetsTotalGrp/EOYAmt07530
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Provision for loan loss
IRS990/OtherExpensesGrp/Desc1Return of funds
IRS990/OtherExpensesGrp/Desc2Loan Origination
IRS990/OtherExpensesGrp/ProgramServicesAmt0465698
IRS990/OtherExpensesGrp/ProgramServicesAmt1100721
IRS990/OtherExpensesGrp/ProgramServicesAmt21005
IRS990/OtherExpensesGrp/TotalAmt0465698
IRS990/OtherExpensesGrp/TotalAmt1100721
IRS990/OtherExpensesGrp/TotalAmt21005
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt06832012
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt05151421
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04706
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03576
IRS990/PrincipalOfficerNm0Michael Ostrowski
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522291
IRS990/ProgramServiceRevenueGrp/BusinessCd1522291
IRS990/ProgramServiceRevenueGrp/BusinessCd2522291
IRS990/ProgramServiceRevenueGrp/Desc0Interest Income-Loans
IRS990/ProgramServiceRevenueGrp/Desc1Loan Fees
IRS990/ProgramServiceRevenueGrp/Desc2Other Fees
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0171800
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt16214
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt22503
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0171800
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt16214
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt22503
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt07597
IRS990/PYOtherExpensesAmt0425366
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0228742
IRS990/PYRevenuesLessExpensesAmt0-189027
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0425366
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0236339
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-641575
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0180517
IRS990/SavingsAndTempCashInvstGrp/BOYAmt05539400
IRS990/SavingsAndTempCashInvstGrp/EOYAmt06517374
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0859480
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0217905
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Central Wisconsin Economic Development Fund, Inc. (CWED) is required to assess whether it is more likely than not that a tax position will be sustained upon examination of the technical merits of the position, assuming the taxing authority has full knowledge of all information. If the tax position does not meet the more likely than not recognition threshold, the benefit of the tax position is not recognized in the financial statements. CWED recorded no assets or liabilities for uncertain tax positions or unrecognized tax benefits.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0859480
IRS990ScheduleD/TotalRevenuePerForm990Amt0217905
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0217905
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0859480
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The form 990 will be provided to all board members for review and approval prior to filing with the internal revenue service.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Conflict of interest statements are completed or updated annually by the Board of Directors. Any individual with an actual or perceived conflict of interest is recused from discussion and voting on the matter to which the conflict relates.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Loan servicing fees: Program service expenses 241,181. Management and general expenses 26,798. Fundraising expenses 0. Total expenses 267,979.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, line 11g
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt012413057
IRS990/TotalAssetsEOYAmt011705587
IRS990/TotalAssetsGrp/BOYAmt012413057
IRS990/TotalAssetsGrp/EOYAmt011705587
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt045146
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0814334
IRS990/TotalFunctionalExpensesGrp/TotalAmt0859480
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt090427
IRS990/TotalLiabilitiesEOYAmt024532
IRS990/TotalLiabilitiesGrp/BOYAmt090427
IRS990/TotalLiabilitiesGrp/EOYAmt024532
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt012322630
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011681055
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0814334
IRS990/TotalProgramServiceRevenueAmt0180517
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt037388
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0180517
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0217905
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012413057
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011705587
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt012322630
IRS990/UnrestrictedNetAssetsGrp/EOYAmt011681055
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02900 Hoover Road No Ste A
IRS990/USAddress/CityNm0Stevens Point
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd054481
IRS990/VotingMembersGoverningBodyCnt017
IRS990/VotingMembersIndependentCnt017
IRS990/WebsiteAddressTxt0www.cwedfund.com

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.6$0.00$13.6$0.61$0.17$0.44
2023Detailed filing. Detailed filing data is available for this year.$12.7$0.00$12.7$0.44$0.13$0.32
2022Detailed filing. Detailed filing data is available for this year.$12.3$0.00$12.3$0.34$0.14$0.20
2021Detailed filing. Detailed filing data is available for this year.$12.1$0.00$12.1$0.32$0.12$0.20
2020Detailed filing. Detailed filing data is available for this year.$11.9$0.00$11.9$0.31$0.14$0.18
2019Detailed filing. Detailed filing data is available for this year.$11.8$0.02$11.8$0.33$0.24$0.10
2018Detailed filing. Detailed filing data is available for this year.$11.7$0.02$11.7$0.28$0.28$0.01
2017Detailed filing. Detailed filing data is available for this year.$11.7$0.02$11.7$0.22$0.86$0.64
2016Detailed filing. Detailed filing data is available for this year.$12.4$0.09$12.3$0.24$0.43$0.19
2015Detailed filing. Detailed filing data is available for this year.$12.6$0.09$12.5$0.25$0.44$0.19
2014Detailed filing. Detailed filing data is available for this year.$12.9$0.18$12.7$0.22$0.33$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.3$0.48$12.8$0.58
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.7$0.54$13.2$0.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.8$0.64$12.2$0.34