Civic Intelligence

River Falls Economic Development Corporation

990 • Fiscal year 2013 • EIN 39-1685445

Jan 01, 2013 to Dec 31, 2013 • Filed on Jun 10, 2014

Organization Profileriverfallsedc.com
104 E Locust St PO Box 166River Falls, WI 54022

(715) 426-3144

Siviq Scores

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

Liabilities / Assets

78th percentile

0.47x

Higher debt load relative to assets than 78% of similar nonprofits.

2013 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

99th percentile

5.47x

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

2013 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2013

Net Margin

95th percentile

32%

Higher net margin than 95% of similar nonprofits.

2013 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

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

2013 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2013

Asset Growth

37th percentile

1.2%

Faster asset growth than 37% of similar nonprofits.

2013 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

1st percentile

-55%

Faster revenue growth than 1% of similar nonprofits.

2013 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$1,088,266

Up $13,285 (+1.2%) from 2012

Net Assets

Up

$573,231

Up $30,354 (+5.6%) from 2012

Liabilities

Down

$515,035

Down $17,069 (-3.2%) from 2012

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin95th percentile

Revenue

Down

$94,178

Down $115,366 (-55%) from 2012

Expenses

Down

$63,824

Down $57,868 (-48%) from 2012

Net Income

Down

$30,354

Down $57,498 (-65%) from 2012

Historical Trend

Balance Sheet Trend

Asset Growth37th percentile

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

$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

2013

Assets$1,088,266
Liabilities$515,035
Net Assets$573,231
Open 2013 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income across loaded years, with this 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

2013

Revenue$94,178
Expenses$63,824
Net Income$30,354
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jun 10, 2014
Return Version
2013v3.1
Gross Receipts
$94,178
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.

Provide rental space to businesses newly recruited to community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$682,547$668,814▼ $13,733
Savings and Temporary Cash Investments$282,099$282,729▲ $630
Investments Program Related$88,385$84,437▼ $3,948
Cash and Non-Interest-Bearing Accounts$21,950$52,286▲ $30,336
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,074,981$1,088,266▲ $13,285
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$528,104$511,035▼ $17,069
Other Liabilities$4,000$4,000→ $0
Total Liabilities$532,104$515,035▼ $17,069
Net Assets / Fund Balance
Unrestricted Net Assets$542,877$573,231▲ $30,354
Total Net Assets Fund Balance$542,877$573,231▲ $30,354
Total Liabilities and Net Assets / Fund Balance$1,074,981$1,088,266▲ $13,285

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$485,465$42,290$527,755
Land$175,918-$175,918
Leasehold Improvements$7,431$427$7,858
Compensation and Service Providers
Top Officer Pay20th percentile

Board Members and Trustees

NameTitle
Leslie BleskachekPresident
Jim LetourneauVice President
Angel ZimmermanDirector
Dale LindquistDirector
Don PiepgrasDirector
George HauserDirector
Jerry WilkensDirector
Paul SchwebachDirector
Glen PottsSecretary
Jack CullenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$93,395
Investment Income
$783
Other Revenue
$0
Change in Net Assets
$30,354
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$63,824
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
Interest---$29,744
Depreciation Depletion---$13,733
Insurance---$3,001
Fees for Services Accounting---$899
Fees for Services Legal---$800
Advertising---$351
Conferences and Meetings---$161
Other Expenses---$60
Office Expenses---$34
Total Functional Expenses$0$0$0$63,824
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits held$4,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The board treasurer reviews for accuracy and full disclosure prior to submitting for full board approval. The board formally approves Form 990 prior to signing.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Form 990EZ's and/or 990 are available either upon request or at Guidestar.org. Other documents, i.e. Articles of Incorporation (on file with the WI Dept of Financial Institutions), Bylaws and Financial Statements are not normally provided.”

Filing and Contact Details

Filer

EIN
39-1685445
Phone
7154263144

Signing Officer

Name
Jack Cullen
Title
Treasurer
Signed
2014-06-10
Discuss with paid preparer
Yes

Organization Details

Formed
1988
Legal Domicile
Wi
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Preparer
Patricia Nelson
Phone
7154252386
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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/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2-4106
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01501
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt196000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2-4106
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt086464
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0121692
IRS990/PYProgramServiceRevenueAmt0123080
IRS990/PYRevenuesLessExpensesAmt087852
IRS990/PYTotalExpensesAmt0121692
IRS990/PYTotalRevenueAmt0209544
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt030354
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0282099
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0282729
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0485465
IRS990ScheduleD/BuildingsGrp/DepreciationAmt042290
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0527755
IRS990ScheduleD/LandGrp/BookValueAmt0175918
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0175918
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt07431
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0427
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt07858
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Security Deposits held
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0668814
IRS990ScheduleD/TotalBookValueProgramRltdAmt084437
IRS990ScheduleD/TotalLiabilityAmt04000
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board treasurer reviews for accuracy and full disclosure prior to submitting for full board approval. The board formally approves Form 990 prior to signing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990EZ's and/or 990 are available either upon request or at Guidestar.org. Other documents, i.e. Articles of Incorporation (on file with the WI Dept of Financial Institutions), Bylaws and Financial Statements are not normally provided.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01074981
IRS990/TotalAssetsEOYAmt01088266
IRS990/TotalAssetsGrp/BOYAmt01074981
IRS990/TotalAssetsGrp/EOYAmt01088266
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt063824
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0532104
IRS990/TotalLiabilitiesEOYAmt0515035
IRS990/TotalLiabilitiesGrp/BOYAmt0532104
IRS990/TotalLiabilitiesGrp/EOYAmt0515035
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0542877
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0573231
IRS990/TotalProgramServiceRevenueAmt093395
IRS990/TotalRevenueGrp/ExclusionAmt0783
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt093395
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt094178
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01074981
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01088266
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0542877
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0573231
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0riverfallsedc.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Jack Cullen
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-06-10
ReturnHeader/Filer/BusinessName/BusinessNameLine10RIVER FALLS ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine20DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0RIVE
ReturnHeader/Filer/EIN0391685445
ReturnHeader/Filer/PhoneNum07154263144
ReturnHeader/Filer/USAddress/AddressLine10104 E LOCUST ST PO BOX 166
ReturnHeader/Filer/USAddress/City0RIVER FALLS
ReturnHeader/Filer/USAddress/State0WI
ReturnHeader/Filer/USAddress/ZIPCode054022
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10Patricia L Nelson CPA Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10216 N Main St Suite D
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0River Falls
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode054022
ReturnHeader/PreparerPersonGrp/PhoneNum07154252386
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Patricia Nelson
ReturnHeader/ReturnTs02014-06-10T09:14:53-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,088,266
Liabilities
$515,035
Net assets
$573,231
Revenue
$94,178
Expenses
$63,824
Net income
$30,354
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
2013Detailed filing. Detailed filing data is available for this year.$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