Civic Intelligence

River Falls Economic Development Corporation

990 • Fiscal year 2014 • EIN 39-1685445

Jan 01, 2014 to Dec 31, 2014 • Filed on Aug 10, 2015

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

19th percentile

0.00x

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

2014 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

19th percentile

0.00x

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

2014 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2014

Net Margin

99th percentile

81%

Higher net margin than 99% of similar nonprofits.

2014 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2014 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2014

Asset Growth

5th percentile

-27%

Faster asset growth than 5% of similar nonprofits.

2014 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

99th percentile

197%

Faster revenue growth than 99% of similar nonprofits.

2014 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets19th percentile

Assets

Down

$799,111

Down $289,155 (-27%) from 2013

Net Assets

Up

$799,111

Up $225,880 (+39%) from 2013

Liabilities

Down

$0

Down $515,035 (-100%) from 2013

Revenue And Expenses
Liabilities / Revenue19th percentileNet Margin99th percentile

Revenue

Up

$279,775

Up $185,597 (+197%) from 2013

Expenses

Down

$53,895

Down $9,929 (-16%) from 2013

Net Income

Up

$225,880

Up $195,526 (+644%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth5th 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

2014

Assets$799,111
Liabilities$0
Net Assets$799,111
Open 2014 Filing

Operations Trend

Revenue Growth99th 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

2014

Revenue$279,775
Expenses$53,895
Net Income$225,880
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 10, 2015
Return Version
2014v5.0
Gross Receipts
$942,132
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
Savings and Temporary Cash Investments$282,729$683,410▲ $400,681
Land, Buildings, and Equipment, Net$668,814$0▼ $668,814
Investments Program Related$84,437$84,070▼ $367
Cash and Non-Interest-Bearing Accounts$52,286$31,631▼ $20,655
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$1,088,266$799,111▼ $289,155
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$511,035--
Other Liabilities$4,000--
Total Liabilities$515,035$0▼ $515,035
Net Assets / Fund Balance
Unrestricted Net Assets$573,231$799,111▲ $225,880
Total Net Assets Fund Balance$573,231$799,111▲ $225,880
Total Liabilities and Net Assets / Fund Balance$1,088,266$799,111▼ $289,155
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Jim LetourneauPresident
Angela ZimmermanVice President
Dale LindquistDirector
Don PiepgrasDirector
George HauserDirector
Jerry WilkensDirector
Leslie BleskachekDirector
Paul SchwebachDirector
Glen PottsSecretary
Jack CullenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$61,448
Investment Income
$218,327
Other Revenue
$0
Change in Net Assets
$225,880
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$53,895
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---$17,417
Depreciation Depletion---$9,727
Insurance---$2,602
Fees for Services Accounting---$1,132
Conferences and Meetings---$317
Advertising---$310
Other Expenses---$239
All Other Expenses---$150
Office Expenses---$35
Total Functional Expenses$0$0$0$53,895
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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
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

Filer Name
River Falls Economic
EIN
39-1685445
Phone
7154263144
Address
104 E LOCUST ST PO BOX 166, RIVER FALLS, WI 54022

Signing Officer

Name
Jack Cullen
Title
Treasurer
Signed
2015-08-10
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Feuerhelm Langer and Nelson CPAs LTD
Address
216 N Main St Suite D, River Falls, WI 54022
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/TotalRevenueColumnAmt161600
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2-375
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0783
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt063824
IRS990/PYProgramServiceRevenueAmt093395
IRS990/PYRevenuesLessExpensesAmt030354
IRS990/PYTotalExpensesAmt063824
IRS990/PYTotalRevenueAmt094178
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0225880
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0282729
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0683410
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/TotalBookValueProgramRltdAmt084070
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/TotalAssetsBOYAmt01088266
IRS990/TotalAssetsEOYAmt0799111
IRS990/TotalAssetsGrp/BOYAmt01088266
IRS990/TotalAssetsGrp/EOYAmt0799111
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt053895
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0515035
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt0515035
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0573231
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0799111
IRS990/TotalProgramServiceRevenueAmt061448
IRS990/TotalRevenueGrp/ExclusionAmt0684
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0279091
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0279775
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01088266
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0799111
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0573231
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0799111
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0riverfallsedc.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Jack Cullen
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-08-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RIVER FALLS ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0RIVE
ReturnHeader/Filer/EIN0391685445
ReturnHeader/Filer/PhoneNum07154263144
ReturnHeader/Filer/USAddress/AddressLine1Txt0104 E LOCUST ST PO BOX 166
ReturnHeader/Filer/USAddress/CityNm0RIVER FALLS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd054022
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Feuerhelm Langer and Nelson CPAs LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0216 N Main St Suite D
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0River Falls
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd054022
ReturnHeader/PreparerPersonGrp/PhoneNum07154252386
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Patricia Nelson
ReturnHeader/ReturnTs02015-08-10T11:41:30-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$799,111
Liabilities
$0
Net assets
$799,111
Revenue
$279,775
Expenses
$53,895
Net income
$225,880
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
2014Detailed filing. Detailed filing data is available for this year.$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