Liabilities / Assets
59th percentile
Higher debt load relative to assets than 59% of similar nonprofits.
EIN 39-1850370 • 501(c)3 • Spooner, WI
Profile
To use funds to promote the economic development of low income indivuals in northwest wisconsin.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
59th percentile
Higher debt load relative to assets than 59% of similar nonprofits.
Liabilities / Revenue
89th percentile
Higher debt load relative to revenue than 89% of similar nonprofits.
Net Margin
75th percentile
Higher net margin than 75% of similar nonprofits.
Top Officer Pay
77th percentile
Higher top officer pay than 77% of similar nonprofits.
Top officer pay equals 39.7% of source-year revenue.
Asset Growth
47th percentile
Faster asset growth than 47% of similar nonprofits.
Revenue Growth
54th percentile
Faster revenue growth than 54% of similar nonprofits.
Assets
Up$2,898,846
Up $68,299 (+2.4%) from 2023
Liabilities
Down$347,373
Down $3,551 (-1.0%) from 2023
Net Assets
Up$2,551,473
Up $71,850 (+2.9%) from 2023
Revenue
Up$326,115
Up $28,389 (+9.5%) from 2023
Expenses
Down$254,684
Down $54,490 (-18%) from 2023
Net Income
Up$71,431
Up $82,879 (+724%) from 2023
Most recent year
2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
To use funds to promote the economic development of low income indivuals in northwest wisconsin.
Promote economic development for low income individuals.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Other Notes and Loans Receivable, Net | $1,398,086 | $1,250,803 | ▼ $147,283 |
| Savings and Temporary Cash Investments | $790,157 | $1,004,739 | ▲ $214,582 |
| Accounts Receivable | $613,237 | $613,817 | ▲ $580 |
| Investments Other Securities | $29,067 | $29,486 | ▲ $419 |
| Cash and Non-Interest-Bearing Accounts | - | $1 | - |
| Total Assets | $2,830,547 | $2,898,846 | ▲ $68,299 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $294,226 | $275,943 | ▼ $18,283 |
| Accounts Payable and Accrued Expenses | $56,698 | $71,430 | ▲ $14,732 |
| Total Liabilities | $350,924 | $347,373 | ▼ $3,551 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $1,415,253 | $1,753,252 | ▲ $337,999 |
| Net Assets With Donor Restrictions | $1,064,370 | $798,221 | ▼ $266,149 |
| Total Net Assets Fund Balance | $2,479,623 | $2,551,473 | ▲ $71,850 |
| Total Liabilities and Net Assets / Fund Balance | $2,830,547 | $2,898,846 | ▲ $68,299 |
| Name | Title | Full / Part Time | Other | Total |
|---|---|---|---|---|
| Mariann Jones | Fiscal Manager | PT | $129,464 | $129,464 |
| Name | Title |
|---|---|
| Herbert Josephson | Chairman |
| Sheldon Johnson | President/CEO |
| Steve Healy | Vice Chairman |
| Richard Roeser | Vice President |
| John Stroschine | Director |
| Randy Schwartzhoff | Director |
| Cole Rabska | Secretary/treasurer |
| Line Item | Amount |
|---|---|
| Other Expenses | $254,684 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Services Management | $164,440 | - | - | $164,440 |
| Fees for Services Accounting | $12,361 | - | - | $12,361 |
| Travel | $5,969 | - | - | $5,969 |
| Interest | $2,771 | - | - | $2,771 |
| All Other Expenses | $1,236 | - | - | $1,236 |
| Other Expenses | $1,121 | $14,786 | - | $1,121 |
| Insurance | $750 | - | - | $750 |
| Total Functional Expenses | $239,898 | $14,786 | $0 | $254,684 |
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $254,684 |
| Total Expenses per Audited Statements | $254,684 |
| Total Expenses per Form 990 | $254,684 |
| Expenses Not Reported on Financial Statements | $0 |
| Expenses Not Reported on Form 990 | $0 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
“The form 990 is prepared by an independent accounting firm. A copy of the organization's form 990 is provided to the board of directors to review before the form is filed.”
“The organization makes its governing documents, and financial statements available to the public upon request.”
“No changes to the organization's process for oversight and selection of independent accountant were made during the tax year.”
“Wisconsin business innovation corporation wbic is exempt from federal income taxes under section 501(c) (3) of the internal revenue code and under similar provisions of the wisconsin income tax act, except with respect to income generated from unrelated business activities. With few exceptions, wbic is no longer subject to u.s. Federal or state income tax examinations by tax authorities for years before 2020 (federal) and 2019 (state), respectively.”
“LOSS ON INVESTMENTS”
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/AccountsReceivableGrp/EOYAmt | 0 | 613817 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | PROMOTE ECONOMIC DEVELOPMENT FOR LOW INCOME INDIVIDUALS. |
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| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 1236 |
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| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 12361 |
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| IRS990/FeesForServicesManagementGrp/TotalAmt | 0 | 164440 |
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| IRS990/ForeignOfficeInd | 0 | 0 |
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| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 2.00 |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | CHAIRMAN |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | VICE CHAIRMAN |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/FormationYr | 0 | 2001 |
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| IRS990/GrantAmt | 0 | 0 |
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| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
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| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 5 |
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| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 0 | OTHER INCOME - 2020 AMOUNT: $ 11,876. 2021 AMOUNT: $ 10,781. 2022 AMOUNT: $ 11,638. 2023 AMOUNT: $ 10,286. 2024 AMOUNT: $ 3,674. |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 0 | SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: |
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| IRS990ScheduleA/OtherIncome170Grp/TotalAmt | 0 | 48255 |
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| IRS990ScheduleA/TotalSupportAmt | 0 | 940057 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 254684 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 419 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 419 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 326115 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | WISCONSIN BUSINESS INNOVATION CORPORATION WBIC IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE AND UNDER SIMILAR PROVISIONS OF THE WISCONSIN INCOME TAX ACT, EXCEPT WITH RESPECT TO INCOME GENERATED FROM UNRELATED BUSINESS ACTIVITIES. WITH FEW EXCEPTIONS, WBIC IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2020 (FEDERAL) AND 2019 (STATE), RESPECTIVELY. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | LOSS ON INVESTMENTS |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XI, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 0 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 254684 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 326115 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 326534 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 254684 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. A COPY OF THE ORGANIZATION'S FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS TO REVIEW BEFORE THE FORM IS FILED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | NO CHANGES TO THE ORGANIZATION'S PROCESS FOR OVERSIGHT AND SELECTION OF INDEPENDENT ACCOUNTANT WERE MADE DURING THE TAX YEAR. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART XII, LINE 2C: |
| IRS990ScheduleR/AssetExchangeInd | 0 | 0 |
| IRS990ScheduleR/AssetPurchaseFromOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/AssetSaleToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/DivRelatedOrganizationInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd | 0 | 0 |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt | 0 | WISCONSIN BUSINESS INNOVATION CORPORATION |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd | 0 | 0 |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN | 0 | 392013290 |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd | 0 | 0 |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd | 0 | WI |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct | 0 | 0.47050 |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PredominantIncomeTypeTxt | 0 | INVESTMENT |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt | 0 | EQUITY FINANCE |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt | 0 | WISCONSIN RURAL ENTERPRISE FUND LLC |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfEOYAssetsAmt | 0 | 283328 |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfTotalIncomeAmt | 0 | 613 |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt | 0 | 1400 SOUTH RIVER STREET |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm | 0 | SPOONER |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd | 0 | WI |
| IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd | 0 | 54801 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 0 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 1 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 2 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 3 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt | 0 | NORTHWEST REGIONAL PLANNING COMMISSION |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt | 1 | NORTHWEST REGIONAL PLANNING COMMISSION |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt | 2 | NORTHWEST REGIONAL PLANNING COMMISSION |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 0 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt | 0 | NORTHWEST AFFORDABLE HOUSING INC |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt | 1 | NORTHWEST REGIONAL PLANNING COMMISSION |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt | 2 | NORTHWEST WISCONSIN BUSINESS DEVELOPMENT CORPORATION |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt | 3 | NORTHWEST WISCONSIN ECONOMIC DEVELOPMENT FUND |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN | 0 | 391848899 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN | 1 | 391313215 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN | 2 | 391474812 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN | 3 | 204322834 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt | 0 | 501(C)(3) |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt | 1 | GOV'T UNIT |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt | 2 | 501(C)(3) |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt | 3 | 501(C)(4) |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd | 0 | WI |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd | 1 | WI |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd | 2 | WI |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd | 3 | WI |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt | 0 | PROVIDE AFFORDABLE HOUSING |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt | 1 | COMMUNITY/ECONOMIC DEVELOPMENT |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt | 2 | JOB CREATION |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt | 3 | ECONOMIC DEVELOPMENT |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt | 0 | LINE 7 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt | 1 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt | 2 | LINE 7 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt | 3 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt | 0 | 1400 S RIVER STREET |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt | 1 | 1400 S RIVER STREET |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt | 2 | 1400 S RIVER STREET |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt | 3 | 1400 S RIVER STREET |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm | 0 | SPOONER |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm | 1 | SPOONER |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm | 2 | SPOONER |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm | 3 | SPOONER |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd | 0 | WI |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd | 1 | WI |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd | 2 | WI |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd | 3 | WI |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd | 0 | 54801 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd | 1 | 54801 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd | 2 | 54801 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd | 3 | 54801 |
| IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/PaidEmployeesSharingInd | 0 | 1 |
| IRS990ScheduleR/PerformOfServicesByOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/PerformOfServicesForOthOrgInd | 0 | 0 |
| IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd | 0 | 0 |
| IRS990ScheduleR/ReimbursementPaidByOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/ReimbursementPaidToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd | 0 | 0 |
| IRS990ScheduleR/RentalOfFcltsFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/SharingOfFacilitiesInd | 0 | 1 |
| IRS990ScheduleR/TransferFromOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/TransferToOtherOrgInd | 0 | 0 |
| IRS990/SchoolOperatingInd | 0 | 0 |
| IRS990/SignificantChangeInd | 0 | 0 |
| IRS990/SignificantNewProgramSrvcInd | 0 | 0 |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | WI |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | 0 |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
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