Civic Intelligence

River Falls Economic

EIN 39-1685445 • 501(c)6 • River Falls, WI

Profile

River Falls Economic Development Corporation (RFEDC) is a voluntary non-profit organization that collaborates with the City of River Falls, Pierce County Economic Development Corporation, St. Croix Economic Development Corporation, and the Wisconsin Economic Development Corporation on economic development to increase employment opportunities through industrial development.

222 Lewis StRiver Falls, WI 54022

www.rfcity.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

74th percentile

0.35x

Higher debt load relative to assets than 74% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

3.46x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Net Margin

89th percentile

26%

Higher net margin than 89% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

37th percentile

1.6%

Faster asset growth than 37% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

70th percentile

14%

Faster revenue growth than 70% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$3,783,095

Up $61,287 (+1.6%) from 2023

Liabilities

Down

$1,307,956

Down $36,362 (-2.7%) from 2023

Net Assets

Up

$2,475,139

Up $97,649 (+4.1%) from 2023

Operations
Liabilities / Revenue99th percentileNet Margin89th percentile

Revenue

Up

$378,283

Up $47,884 (+14%) from 2023

Expenses

Up

$280,695

Up $7,651 (+2.8%) from 2023

Net Income

Up

$97,588

Up $40,233 (+70%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth37th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $1,678,405Liabilities 2010: $1,202,468Net Assets 2010: $475,9372010Assets 2011: $1,588,467Liabilities 2011: $1,133,442Net Assets 2011: $455,0252011Assets 2012: $1,074,981Liabilities 2012: $532,104Net Assets 2012: $542,8772012Assets 2013: $1,088,266Liabilities 2013: $515,035Net Assets 2013: $573,2312013Assets 2014: $799,111Liabilities 2014: $0Net Assets 2014: $799,1112014Assets 2015: $789,142Liabilities 2015: $0Net Assets 2015: $789,1422015Assets 2016: $1,037,230Liabilities 2016: $0Net Assets 2016: $1,037,2302016Assets 2017: $3,330,856Liabilities 2017: $1,023,067Net Assets 2017: $2,307,7892017Assets 2018: $3,880,508Liabilities 2018: $1,420,760Net Assets 2018: $2,459,7482018Assets 2019: $3,805,675Liabilities 2019: $1,397,694Net Assets 2019: $2,407,9812019Assets 2020: $3,701,008Liabilities 2020: $1,343,560Net Assets 2020: $2,357,4482020Assets 2021: $3,675,583Liabilities 2021: $1,337,488Net Assets 2021: $2,338,0952021Assets 2022: $3,749,833Liabilities 2022: $1,422,445Net Assets 2022: $2,327,3882022Assets 2023: $3,721,808Liabilities 2023: $1,344,318Net Assets 2023: $2,377,4902023Assets 2024: $3,783,095Liabilities 2024: $1,307,956Net Assets 2024: $2,475,1392024

Highlighted filing

2024

Assets$3,783,095
Liabilities$1,307,956
Net Assets$2,475,139
Open 2024 Filing

Operations Trend

Revenue Growth70th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2010: $91,8902010Expenses 2011: $131,0682011Revenue 2012: $209,544Expenses 2012: $121,692Net Income 2012: $87,8522012Revenue 2013: $94,178Expenses 2013: $63,824Net Income 2013: $30,3542013Revenue 2014: $279,775Expenses 2014: $53,895Net Income 2014: $225,8802014Revenue 2015: $1,053Expenses 2015: $4,428Net Income 2015: -$3,3752015Revenue 2016: $251,646Expenses 2016: $3,558Net Income 2016: $248,0882016Revenue 2017: $1,292,925Expenses 2017: $22,366Net Income 2017: $1,270,5592017Revenue 2018: $370,880Expenses 2018: $196,962Net Income 2018: $173,9182018Revenue 2019: $185,591Expenses 2019: $237,358Net Income 2019: -$51,7672019Revenue 2020: $175,495Expenses 2020: $226,028Net Income 2020: -$50,5332020Revenue 2021: $263,588Expenses 2021: $279,009Net Income 2021: -$15,4212021Revenue 2022: $234,806Expenses 2022: $269,464Net Income 2022: -$34,6582022Revenue 2023: $330,399Expenses 2023: $273,044Net Income 2023: $57,3552023Revenue 2024: $378,283Expenses 2024: $280,695Net Income 2024: $97,5882024

Highlighted filing

2024

Revenue$378,283
Expenses$280,695
Net Income$97,588
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$3,783,095
Liabilities
$1,307,956
Net assets
$2,475,139
Revenue
$378,283
Expenses
$280,695
Net income
$97,588
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.78$1.31$2.48$0.38$0.28$0.10
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.72$1.34$2.38$0.33$0.27$0.06
2022Detailed filing. Detailed filing data is available for this year.$3.75$1.42$2.33$0.23$0.27$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.68$1.34$2.34$0.26$0.28$0.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.70$1.34$2.36$0.18$0.23$0.05
2019Detailed filing. Detailed filing data is available for this year.$3.81$1.40$2.41$0.19$0.24$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.88$1.42$2.46$0.37$0.20$0.17
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.33$1.02$2.31$1.29$0.02$1.27
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.04$0.00$1.04$0.25$0.00$0.25
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.79$0.00$0.79$0.00$0.00$0.00
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.80$0.00$0.80$0.28$0.05$0.23
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.09$0.52$0.57$0.09$0.06$0.03
2012Summary only. Only limited summary data is available for this year.$1.07$0.53$0.54$0.21$0.12$0.09
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.59$1.13$0.46$0.13
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$1.20$0.48$0.09
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 17, 2025
Return Version
2024v5.0
Gross Receipts
$378,283
Mission and Program Overview

Mission

River Falls Economic Development Corporation (RFEDC) is a voluntary non-profit organization that collaborates with the City of River Falls, Pierce County Economic Development Corporation, St. Croix Economic Development Corporation, and the Wisconsin Economic Development Corporation on economic development to increase employment opportunities through industrial development.

River falls economic development corporation (rfedc) is a voluntary non- profit organization that collaborates with the city of river falls, pierce county economic development corporation, st. Croix economic development corporation, and the wisconsin economic development corporation to increase employment opportunities through industrial development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,215,937$3,152,166▼ $63,771
Accounts Receivable$104,925$275,832▲ $170,907
Savings and Temporary Cash Investments$218,576$220,916▲ $2,340
Cash and Non-Interest-Bearing Accounts$133,080$84,830▼ $48,250
Investments Program Related$49,290$49,351▲ $61
Total Assets$3,721,808$3,783,095▲ $61,287
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,339,669$1,304,326▼ $35,343
Accounts Payable and Accrued Expenses$4,649$3,630▼ $1,019
Total Liabilities$1,344,318$1,307,956▼ $36,362
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,377,490$2,475,139▲ $97,649
Total Net Assets Fund Balance$2,377,490$2,475,139▲ $97,649
Total Liabilities and Net Assets / Fund Balance$3,721,808$3,783,095▲ $61,287

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,818,667$563,734$3,382,401
Leasehold Improvements$328,787$39,180$367,967
Other Land Buildings$4,712$100,897$105,609
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Shari FrisbiePresident
Dale JorgensonDirector
Jerry WilkensDirector
Joe FischerDirector
Katy MelstromDirector
Max NeuhausDirector
Steve LeitchDirector
Terry MckayDirector
William LambDirector
Scot SimpsonExecutive Di
Keri SchreinerTreasurer/se
Rosanne BumpVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$5,084
Program Service Revenue
$370,859
Investment Income
$2,340
Other Revenue
$0
All Other Contributions
$5,084
Change in Net Assets
$97,588
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$280,695
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
Depreciation Depletion---$103,822
Occupancy---$79,028
Interest---$56,743
Insurance---$9,568
Fees for Services Other---$7,652
Office Expenses---$6,850
Advertising---$4,909
Travel---$4,724
Fees for Services Accounting---$2,425
Conferences and Meetings---$1,247
Other Expenses---$1,139
All Other Expenses---$34
Total Functional Expenses$0$0$0$280,695
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, Page 6, Part VI, Line 11B

“The board treasurer reviews for accruacy and full disclosure prior to submitting for full board approval. The board formally aproves form 990 prior to signing.”

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

“The organization's conflict of interest policy covers all directors, officers and all employees who can influence the actions of the organization. Disclosure of a conflict of interest should be made to the chief executive officer who will bring the matter to the attention of the board. Disclosures involving the directors should be brought to the board chair who shall bring these matters to the board. The board shall determine whether a conflict of interest exists. The person with the conflict of interest is excluded from the discussion and approval of any transaction where a conflict of interest exists.”

Form 990, Page 6, Part VI, 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
River Falls Economic
EIN
39-1685445
Phone
7154263144
Address
222 LEWIS ST, RIVER FALLS, WI 54022

Signing Officer

Name
Shari Frisbie
Title
President
Phone
7154263469
Signed
2025-09-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shari Frisbie
Formed
1988
Legal Domicile
Wi
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
12

Preparer

Firm
Guinn Vinopal & Zahradka Llp
Address
811 FIRST ST SUITE 101, HUDSON, WI 54016
Preparer
Dan Patrick CPA
Phone
7153861212
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“River falls economic development corporation (rfedc) is a voluntary non- profit organization that collaborates with the city of river falls, pierce county economic development corporation, st. Croix economic development corporation, and the wisconsin economic development corporation on economic development to increase employment opportunities through industrial development.”

Raw XML Appendix349 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.

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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt9VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt10EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt11TREASURER/SE
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IRS990/MissionDesc0RIVER FALLS ECONOMIC DEVELOPMENT CORPORATION (RFEDC) IS A VOLUNTARY NON- PROFIT ORGANIZATION THAT COLLABORATES WITH THE CITY OF RIVER FALLS, PIERCE COUNTY ECONOMIC DEVELOPMENT CORPORATION, ST. CROIX ECONOMIC DEVELOPMENT CORPORATION, AND THE WISCONSIN ECONOMIC DEVELOPMENT CORPORATION ON ECONOMIC DEVELOPMENT TO INCREASE EMPLOYMENT OPPORTUNITIES THROUGH INDUSTRIAL DEVELOPMENT.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RIVER FALLS ECONOMIC DEVELOPMENT CORPORATION (RFEDC) IS A VOLUNTARY NON- PROFIT ORGANIZATION THAT COLLABORATES WITH THE CITY OF RIVER FALLS, PIERCE COUNTY ECONOMIC DEVELOPMENT CORPORATION, ST. CROIX ECONOMIC DEVELOPMENT CORPORATION, AND THE WISCONSIN ECONOMIC DEVELOPMENT CORPORATION ON ECONOMIC DEVELOPMENT TO INCREASE EMPLOYMENT OPPORTUNITIES THROUGH INDUSTRIAL DEVELOPMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD TREASURER REVIEWS FOR ACCRUACY AND FULL DISCLOSURE PRIOR TO SUBMITTING FOR FULL BOARD APPROVAL. THE BOARD FORMALLY APROVES FORM 990 PRIOR TO SIGNING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S CONFLICT OF INTEREST POLICY COVERS ALL DIRECTORS, OFFICERS AND ALL EMPLOYEES WHO CAN INFLUENCE THE ACTIONS OF THE ORGANIZATION. DISCLOSURE OF A CONFLICT OF INTEREST SHOULD BE MADE TO THE CHIEF EXECUTIVE OFFICER WHO WILL BRING THE MATTER TO THE ATTENTION OF THE BOARD. DISCLOSURES INVOLVING THE DIRECTORS SHOULD BE BROUGHT TO THE BOARD CHAIR WHO SHALL BRING THESE MATTERS TO THE BOARD. THE BOARD SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. THE PERSON WITH THE CONFLICT OF INTEREST IS EXCLUDED FROM THE DISCUSSION AND APPROVAL OF ANY TRANSACTION WHERE A CONFLICT OF INTEREST EXISTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC 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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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02025-09-17
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ReturnHeader/ReturnTs02025-10-14T09:07:41-04:00
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ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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