Civic Intelligence

River Falls Economic Development Corporation

990 • Fiscal year 2019 • EIN 39-1685445

Jan 01, 2019 to Dec 31, 2019 • Filed on Feb 26, 2020

Organization ProfileWWW.RFCITY.ORG
222 North Lewis StRiver Falls, WI 54022

(715) 426-3144

Siviq Scores

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

Liabilities / Assets

75th percentile

0.37x

Higher debt load relative to assets than 75% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

99th percentile

7.53x

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

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

4th percentile

-28%

Higher net margin than 4% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

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

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

24th percentile

-1.9%

Faster asset growth than 24% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

2nd percentile

-50%

Faster revenue growth than 2% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$3,805,675

Down $74,833 (-1.9%) from 2018

Net Assets

Down

$2,407,981

Down $51,767 (-2.1%) from 2018

Liabilities

Down

$1,397,694

Down $23,066 (-1.6%) from 2018

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin4th percentile

Revenue

Down

$185,591

Down $185,289 (-50%) from 2018

Expenses

Up

$237,358

Up $40,396 (+21%) from 2018

Net Income

Down

-$51,767

Down $225,685 (-130%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth24th 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

2019

Assets$3,805,675
Liabilities$1,397,694
Net Assets$2,407,981
Open 2019 Filing

Operations Trend

Revenue Growth2nd 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

2019

Revenue$185,591
Expenses$237,358
Net Income-$51,767
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Feb 26, 2020
Return Version
2019v5.0
Gross Receipts
$185,591
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$3,489,724$3,397,664▼ $92,060
Savings and Temporary Cash Investments$216,779$229,017▲ $12,238
Cash and Non-Interest-Bearing Accounts$110,065$117,592▲ $7,527
Investments Program Related$53,493$53,493→ $0
Pledges and Grants Receivable$10,447$7,909▼ $2,538
Total Assets$3,880,508$3,805,675▼ $74,833
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,419,889$1,382,427▼ $37,462
Accounts Payable and Accrued Expenses$871$15,267▲ $14,396
Total Liabilities$1,420,760$1,397,694▼ $23,066
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,459,748$2,407,981▼ $51,767
Total Net Assets Fund Balance$2,459,748$2,407,981▼ $51,767
Total Liabilities and Net Assets / Fund Balance$3,880,508$3,805,675▼ $74,833

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,241,468$140,933$3,382,401
Other Land Buildings$84,881$42,047$126,928
Leasehold Improvements$71,315$3,101$74,416
Compensation and Service Providers
Top Officer Pay24th percentile

Board Members and Trustees

NameTitle
Max NeuhausPresident
Angel ZimmermanDirector
Chris BlasiusDirector
Dale JorgensonDirector
Jerry WilkensDirector
Joe FischerDirector
Jon BentsDirector
Roseanne BumpDirector
Steve LeitchDirector
Danielle CampeauDirector Scv
Scot SimpsonExecutive Di
Revenue and Support

Revenue Composition

Contributions and Grants
$25,035
Program Service Revenue
$158,350
Investment Income
$2,206
Other Revenue
$0
All Other Contributions
$25,035
Change in Net Assets
$-51,767
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$237,358
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$113,379--$113,379
Interest$50,318--$50,318
Occupancy$38,609--$38,609
Insurance$9,708$2,547-$12,255
Office Expenses$6,748--$6,748
Fees for Services Accounting$4,005$1,361-$5,366
Advertising$3,458$107-$3,565
Travel$1,307--$1,307
Other Expenses$559$3,020-$559
Conferences and Meetings-$427-$427
All Other Expenses-$34-$34
Total Functional Expenses$229,862$7,496$0$237,358
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 disclosre prior to submitting for full board approval. The board formally aproves form 990 prior to signing.”

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

“Section 6 of the bylaws is titled "conflict of interest- and is explained to all new board members and continuting 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 reference to all board members.”

Form 990, Page 6, Part VI, Line 19

“Forms 990/990ez are available either upon request or at guidestar.org. Other documents, i.e. Articles of incorporation (on file with the wi dept of financial insitutuions), bylaws and financial statements are not normally provided.”

Filing and Contact Details

Filer

Filer Name
River Falls Economic
EIN
39-1685445
Phone
7154263144
Address
222 NORTH LEWIS ST, RIVER FALLS, WI 54022

Signing Officer

Name
Max Neuhaus
Title
President
Phone
7154263469
Signed
2020-02-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Max Neuhaus
Formed
1988
Legal Domicile
Wi
Voting Board Members
11
Independent Board Members
11
Employees
0

Preparer

Firm
Guinn Vinopal & Zahradka Llp
Address
715 N MAIN ST, RIVER FALLS, WI 54022-3502
Preparer
Sonya Jansma
Phone
7154257521
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“River falls economic development corporation (rfedc) is a voluntary non- profit organizaiton 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.”

Form 990, Page 2, Part III, Line 4D

“Assist new business start ups and provide rental or new construction”

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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/PYProgramServiceRevenueAmt0129405
IRS990/PYRevenuesLessExpensesAmt0173918
IRS990/PYTotalExpensesAmt0196962
IRS990/PYTotalRevenueAmt0370880
IRS990/ReconcilationRevenueExpnssAmt0-51767
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IRS990/RelatedEntityInd0false
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0216779
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0229017
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0140933
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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt071315
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt03101
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt074416
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt084881
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt042047
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0126928
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03397664
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RIVER FALLS ECONOMIC DEVELOPMENT CORPORATION (RFEDC) IS A VOLUNTARY NON- PROFIT ORGANIZAITON 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/ExplanationTxt1ASSIST NEW BUSINESS START UPS AND PROVIDE RENTAL OR NEW CONSTRUCTION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD TREASURER REVIEWS FOR ACCRUACY AND FULL DISCLOSRE PRIOR TO SUBMITTING FOR FULL BOARD APPROVAL. THE BOARD FORMALLY APROVES FORM 990 PRIOR TO SIGNING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SECTION 6 OF THE BYLAWS IS TITLED "CONFLICT OF INTEREST- AND IS EXPLAINED TO ALL NEW BOARD MEMBERS AND CONTINUTING 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 REFERENCE TO ALL BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORMS 990/990EZ ARE AVAILABLE EITHER UPON REQUEST OR AT GUIDESTAR.ORG. OTHER DOCUMENTS, I.E. ARTICLES OF INCORPORATION (ON FILE WITH THE WI DEPT OF FINANCIAL INSITUTUIONS), BYLAWS AND FINANCIAL STATEMENTS ARE NOT NORMALLY PROVIDED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt03805675
IRS990/TotalAssetsGrp/BOYAmt03880508
IRS990/TotalAssetsGrp/EOYAmt03805675
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt025035
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07496
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0229862
IRS990/TotalFunctionalExpensesGrp/TotalAmt0237358
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01420760
IRS990/TotalLiabilitiesEOYAmt01397694
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IRS990/TotalLiabilitiesGrp/EOYAmt01397694
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02459748
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02407981
IRS990/TotalProgramServiceRevenueAmt0158350
IRS990/TotalRevenueGrp/ExclusionAmt0160556
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0185591
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03880508
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03805675
IRS990/TravelGrp/ProgramServicesAmt01307
IRS990/TravelGrp/TotalAmt01307
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0222 LEWIS STREET
IRS990/USAddress/CityNm0RIVER FALLS
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd054022
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.RFCITY.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MAX NEUHAUS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07154263469
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-02-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RIVER FALLS ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0RIVE
ReturnHeader/Filer/EIN0391685445
ReturnHeader/Filer/PhoneNum07154263144
ReturnHeader/Filer/USAddress/AddressLine1Txt0222 NORTH LEWIS ST
ReturnHeader/Filer/USAddress/CityNm0RIVER FALLS
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId08D97B4B7B6F4FF2C236B171A9DECB9F288AB8185
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId08D97B4B7B6F4FF2C236B171A9DECB9F288AB8185
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt066.151.15.188
ReturnHeader/FilingSecurityInformation/IPDt02020-03-02
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm012:48:49
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0391825995
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GUINN VINOPAL & ZAHRADKA LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0715 N MAIN ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RIVER FALLS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0540223502
ReturnHeader/PreparerPersonGrp/PhoneNum07154257521
ReturnHeader/PreparerPersonGrp/PreparationDt02020-02-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SONYA JANSMA
ReturnHeader/ReturnTs02020-03-02T12:48:49-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,805,675
Liabilities
$1,397,694
Net assets
$2,407,981
Revenue
$185,591
Expenses
$237,358
Net income
-$51,767
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