Civic Intelligence

River Falls Economic Development Corporation

990 • Fiscal year 2016 • EIN 39-1685445

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 03, 2017

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

9th percentile

0.00x

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

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

9th percentile

0.00x

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

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Net Margin

100th percentile

99%

Higher net margin than 100% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Asset Growth

91st percentile

31%

Faster asset growth than 91% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

100th percentile

23798%

Faster revenue growth than 100% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$1,037,230

Up $248,088 (+31%) from 2015

Net Assets

Up

$1,037,230

Up $248,088 (+31%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses
Liabilities / Revenue9th percentileNet Margin100th percentile

Revenue

Up

$251,646

Up $250,593 (+23798%) from 2015

Expenses

Down

$3,558

Down $870 (-20%) from 2015

Net Income

Up

$248,088

Up $251,463 (+7451%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth91st 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

2016

Assets$1,037,230
Liabilities$0
Net Assets$1,037,230
Open 2016 Filing

Operations Trend

Revenue Growth100th 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

2016

Revenue$251,646
Expenses$3,558
Net Income$248,088
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 3, 2017
Return Version
2016v3.0
Gross Receipts
$251,646
Mission and Program Overview

Mission

Provide rental space to businesses newly recruited to community.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$684,947$515,280▼ $169,667
Investments Program Related$76,993$76,606▼ $387
Cash and Non-Interest-Bearing Accounts$27,202$23,644▼ $3,558
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$789,142$1,037,230▲ $248,088
Other Assets Total-$421,700-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$789,142$787,230▼ $1,912
Temporarily Rstr Net Assets-$250,000-
Total Net Assets Fund Balance$789,142$1,037,230▲ $248,088
Total Liabilities and Net Assets / Fund Balance$789,142$1,037,230▲ $248,088

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$421,700--
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Angela ZimmermanPresident
Danielle CampeauVice President
Dale JorgensonDirector
Don PiepgrasDirector
George HauserDirector
Jerry WilkensDirector
Patricia NelsonDirector
Paul SchwebachDirector
Scot SimpsonExecutive Director
Jack CullenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$250,000
Program Service Revenue
$-388
Investment Income
$2,034
Other Revenue
$0
All Other Contributions
$250,000
Change in Net Assets
$248,088
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,558
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 Accounting---$1,031
Insurance---$750
Conferences and Meetings---$233
Office Expenses---$34
Other Expenses---$10
Total Functional Expenses$0$0$0$3,558
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
Yes
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
Yes
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 12C: Explanation of Monitoring and Enforcement of Conflicts

“Section 6 of the Bylaws is entitled "CONFLICT OF INTEREST" and is explained to all new board members and continuing board members. The policy explains whereby any conflicts of interest relative to members actions on the Board are present, the affected board member is expected to excuse themselves. The bylaws are posted to secure "in the cloud" storage which allows for easy access to all board members.”

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
2017-08-03
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 CPA LTD
Address
704 North Main Street, River Falls, WI 54022
Preparer
Patricia Nelson
Phone
7154252386
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IRS990/PYRevenuesLessExpensesAmt0-3375
IRS990/PYTotalExpensesAmt04428
IRS990/PYTotalRevenueAmt01053
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0248088
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0684947
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0515280
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0421700
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Incubator Building Funds on Deposit
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0421700
IRS990ScheduleD/TotalBookValueProgramRltdAmt076606
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/ExplanationTxt1Section 6 of the Bylaws is entitled "CONFLICT OF INTEREST" and is explained to all new board members and continuing board members. The policy explains whereby any conflicts of interest relative to members actions on the Board are present, the affected board member is expected to excuse themselves. The bylaws are posted to secure "in the cloud" storage which allows for easy access to all board members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 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 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 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/TemporarilyRstrNetAssetsGrp/EOYAmt0250000
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0789142
IRS990/TotalAssetsEOYAmt01037230
IRS990/TotalAssetsGrp/BOYAmt0789142
IRS990/TotalAssetsGrp/EOYAmt01037230
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0250000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt03558
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0789142
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01037230
IRS990/TotalProgramServiceRevenueAmt0-388
IRS990/TotalRevenueGrp/ExclusionAmt02034
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-388
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0251646
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0789142
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01037230
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0789142
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0787230
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0riverfallsedc.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Jack Cullen
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-08-03
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 CPA LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0704 North Main Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0River Falls
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd054022
ReturnHeader/PreparerPersonGrp/PhoneNum07154252386
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Patricia Nelson
ReturnHeader/ReturnTs02017-08-03T07:48:07-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,037,230
Liabilities
$0
Net assets
$1,037,230
Revenue
$251,646
Expenses
$3,558
Net income
$248,088
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
2016Detailed filing. Detailed filing data is available for this year.$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