Civic Intelligence

Central Wisconsin Economic Development Fund Inc

990 • Fiscal year 2020 • EIN 26-4682326

Oct 01, 2019 to Sep 30, 2020 • Filed on Jun 22, 2021

722 Traveler LaneMadison, WI 53718

(715) 340-7930

Siviq Scores

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

Liabilities / Assets

11th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

11th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2020

Net Margin

85th percentile

56%

Higher net margin than 85% of similar nonprofits.

2020 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

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

2020 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2020

Asset Growth

37th percentile

1.3%

Faster asset growth than 37% of similar nonprofits.

2020 filings • 501(c)4 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

33rd percentile

-5.8%

Faster revenue growth than 33% of similar nonprofits.

2020 filings • 501(c)4 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Up

$11,945,150

Up $152,591 (+1.3%) from 2019

Net Assets

Up

$11,945,150

Up $175,742 (+1.5%) from 2019

Liabilities

Down

$0

Down $23,151 (-100%) from 2019

Revenue

Down

$313,864

Down $19,174 (-5.8%) from 2019

Expenses

Down

$138,122

Down $98,363 (-42%) from 2019

Net Income

Up

$175,742

Up $79,189 (+82%) from 2019

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

2020

Assets$11,945,150
Liabilities$0
Net Assets$11,945,150

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

2020

Revenue$313,864
Expenses$138,122
Net Income$175,742
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Jun 22, 2021
Return Version
2019v5.2
Gross Receipts
$313,864
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$7,210,621$7,538,225▲ $327,604
Other Notes and Loans Receivable, Net$4,544,992$4,396,837▼ $148,155
Prepaid Expenses and Deferred Charges$3,848$0▼ $3,848
Cash and Non-Interest-Bearing Accounts$24,884$1,874▼ $23,010
Total Assets$11,792,559$11,945,150▲ $152,591
Other Assets Total$8,214$8,214→ $0
Liabilities
Accounts Payable and Accrued Expenses$23,151$0▼ $23,151
Total Liabilities$23,151$0▼ $23,151
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,769,408$11,945,150▲ $175,742
Total Net Assets Fund Balance$11,769,408$11,945,150▲ $175,742
Total Liabilities and Net Assets / Fund Balance$11,792,559$11,945,150▲ $152,591
Compensation and Service Providers

Board Members and Trustees

NameTitle
Chris HolmanPresident
Ken MaulePresident (thru May)
Adam RekauVice President
Zach VruwinkVice President (thru Nov)
Bob EganBoard Member
Charles KornackBoard Member
Daric SmithBoard Member
Gaylene RhodenBoard Member
Jeff GatesBoard Member
Kyle KearnsBoard Member
Mike SteeleBoard Member
Steve BargBoard Member
Steve KunstBoard Member
Tanya Walsh-laehnBoard Member
Vicki ResechBoard Member
William BialeckiBoard Member
Ryan KernoskySecretary
Jason GruenebergTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Redevelopment Resources LLCLoan Fund Administration722 TRAVELER LANE, Madison, WI 53718$120,365
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$169,963
Investment Income
$143,901
Other Revenue
$0
Change in Net Assets
$175,742
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$138,122
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$108,328$12,037-$120,365
Insurance-$8,996-$8,996
Fees for Services Legal$3,520$3,520-$7,040
Fees for Services Accounting-$5,302-$5,302
Information Technology$1,674--$1,674
All Other Expenses$691--$691
Occupancy$200--$200
Other Expenses$-6,456--$-6,456
Total Functional Expenses$108,267$29,855$0$138,122
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
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
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
7153407930
Address
722 TRAVELER LANE, MADISON, WI 53718

Signing Officer

Name
Chris Holman
Title
President
Phone
7153437500
Signed
2021-06-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Holman
Formed
2009
Legal Domicile
Wi
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
22

Preparer

Firm
Wipfli Llp
Address
PO BOX 8700, MADISON, WI 53708-8700
Preparer
John Hemming
Phone
6082741980
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Loan servicing fees: program service expenses 108,328. Management and general expenses 12,037. Fundraising expenses 0. Total expenses 120,365.

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IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
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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/NetAssetsOrFundBalancesBOYAmt011769408
IRS990/NetAssetsOrFundBalancesEOYAmt011945150
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt011769408
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt011945150
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0200
IRS990/OccupancyGrp/TotalAmt0200
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt08214
IRS990/OtherAssetsTotalGrp/EOYAmt08214
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0LOAN ORIGINATION
IRS990/OtherExpensesGrp/Desc1BAD DEBT RECOVERY
IRS990/OtherExpensesGrp/ProgramServicesAmt0310
IRS990/OtherExpensesGrp/ProgramServicesAmt1-6456
IRS990/OtherExpensesGrp/TotalAmt0310
IRS990/OtherExpensesGrp/TotalAmt1-6456
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt04544992
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt04396837
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03848
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0CHRIS HOLMAN
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/RelatedOrExemptFuncIncomeAmt0168961
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1685
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2317
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0168961
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1685
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2317
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0129599
IRS990/PYOtherExpensesAmt0236485
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0203439
IRS990/PYRevenuesLessExpensesAmt096553
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0236485
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0333038
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0175742
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0169963
IRS990/SavingsAndTempCashInvstGrp/BOYAmt07210621
IRS990/SavingsAndTempCashInvstGrp/EOYAmt07538225
IRS990/ScheduleBRequiredInd00
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 108,328. MANAGEMENT AND GENERAL EXPENSES 12,037. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 120,365.
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/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt011792559
IRS990/TotalAssetsEOYAmt011945150
IRS990/TotalAssetsGrp/BOYAmt011792559
IRS990/TotalAssetsGrp/EOYAmt011945150
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt029855
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0108267
IRS990/TotalFunctionalExpensesGrp/TotalAmt0138122
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt023151
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt023151
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt011769408
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011945150
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0108267
IRS990/TotalProgramServiceRevenueAmt0169963
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0143901
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0169963
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0313864
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt022
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011792559
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011945150
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0722 TRAVELER LANE
IRS990/USAddress/CityNm0MADISON
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd053718
IRS990/VotingMembersGoverningBodyCnt016
IRS990/VotingMembersIndependentCnt016
IRS990/WebsiteAddressTxt0WWW.CWEDFUND.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHRIS HOLMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07153437500
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-06-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CENTRAL WISCONSIN ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0CENT
ReturnHeader/Filer/EIN0264682326
ReturnHeader/Filer/PhoneNum07153407930
ReturnHeader/Filer/USAddress/AddressLine1Txt0722 TRAVELER LANE
ReturnHeader/Filer/USAddress/CityNm0MADISON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd053718
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0390758449
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WIPFLI LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 8700

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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