Civic Intelligence

River Falls Economic Development Corporation

990 • Fiscal year 2017 • EIN 39-1685445

Jan 01, 2017 to Dec 31, 2017 • Filed on Sep 10, 2018

Organization Profileriverfallsedc.com
222 North Lewis StreetRiver Falls, WI 54022

(715) 426-3144

Siviq Scores

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

Liabilities / Assets

67th percentile

0.31x

Higher debt load relative to assets than 67% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

91st percentile

0.79x

Higher debt load relative to revenue than 91% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Net Margin

100th percentile

98%

Higher net margin than 100% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Asset Growth

99th percentile

221%

Faster asset growth than 99% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

99th percentile

414%

Faster revenue growth than 99% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$3,330,856

Up $2,293,626 (+221%) from 2016

Net Assets

Up

$2,307,789

Up $1,270,559 (+122%) from 2016

Liabilities

Up

$1,023,067

Up $1,023,067 from 2016

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin100th percentile

Revenue

Up

$1,292,925

Up $1,041,279 (+414%) from 2016

Expenses

Up

$22,366

Up $18,808 (+529%) from 2016

Net Income

Up

$1,270,559

Up $1,022,471 (+412%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth99th 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

2017

Assets$3,330,856
Liabilities$1,023,067
Net Assets$2,307,789
Open 2017 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

2017

Revenue$1,292,925
Expenses$22,366
Net Income$1,270,559
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Sep 10, 2018
Return Version
2017v2.2
Gross Receipts
$1,292,925
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$23,644$129,288▲ $105,644
Savings and Temporary Cash Investments$515,280$126,274▼ $389,006
Investments Program Related$76,606$75,810▼ $796
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$1,037,230$3,330,856▲ $2,293,626
Other Assets Total$421,700$2,999,484▲ $2,577,784
Liabilities
Mortgage Notes Payable Secured by Investment Property-$1,023,067-
Total Liabilities$0$1,023,067▲ $1,023,067
Net Assets / Fund Balance
Unrestricted Net Assets$787,230$2,307,789▲ $1,520,559
Temporarily Rstr Net Assets$250,000--
Total Net Assets Fund Balance$1,037,230$2,307,789▲ $1,270,559
Total Liabilities and Net Assets / Fund Balance$1,037,230$3,330,856▲ $2,293,626

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$2,974,494--
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Angela ZimmermanPresident
Danielle CampeauPresident
Dale JorgensonVice President
Don PiepgrasDirector
Jerry WilkensDirector
Patricia NelsonDirector
Paul SchwebachDirector
Scot SimpsonExecutive Director
Jack CullenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,291,877
Program Service Revenue
$-3,939
Investment Income
$4,987
Other Revenue
$0
All Other Contributions
$1,291,877
Change in Net Assets
$1,270,559
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$22,366
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---$12,010
Insurance---$4,075
Fees for Services Accounting---$2,668
Advertising---$501
Other Expenses---$10
Total Functional Expenses$0$0$0$22,366
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
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
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
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
222 North Lewis Street, RIVER FALLS, WI 54022

Signing Officer

Name
Dan Schmidt
Title
Treasurer
Signed
2018-09-10
Discuss with paid preparer
Yes

Organization Details

Formed
1988
Legal Domicile
Wi
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Feuerhelm Langer and Nelson CPA LTD
Address
704 North Main Street, River Falls, WI 54022
Preparer
Rebecca Hovseth
Phone
7154252386
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IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01270559
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0515280
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0126274
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt024990
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt12974494
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Furniture & Fixtures Downpayment
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Incubator Building WIP
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02999484
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/BOYAmt0250000
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01037230
IRS990/TotalAssetsEOYAmt03330856
IRS990/TotalAssetsGrp/BOYAmt01037230
IRS990/TotalAssetsGrp/EOYAmt03330856
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01291877
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt022366
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt01023067
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt01023067
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01037230
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02307789
IRS990/TotalProgramServiceRevenueAmt0-3939
IRS990/TotalRevenueGrp/ExclusionAmt04987
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-3939
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01292925
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01037230
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03330856
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0787230
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02307789
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0riverfallsedc.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Dan Schmidt
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-09-10
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 Street
ReturnHeader/Filer/USAddress/CityNm0RIVER FALLS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd054022
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472464734
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/PreparerPersonNm0Rebecca Hovseth
ReturnHeader/ReturnTs02018-09-10T13:06:24-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,330,856
Liabilities
$1,023,067
Net assets
$2,307,789
Revenue
$1,292,925
Expenses
$22,366
Net income
$1,270,559
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
2017Detailed filing. Detailed filing data is available for this year.$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