Civic Intelligence

Southeastern Minnesota 504 Development Inc

990 • Fiscal year 2018 • EIN 41-1678990

Jan 01, 2018 to Dec 31, 2018 • Filed on May 29, 2019

Organization ProfileWWW.504CORPORATION.COM
220 South Broadway No 100Rochester, MN 55904

(507) 288-6442

Siviq Scores

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

Liabilities / Assets

37th percentile

0.02x

Higher debt load relative to assets than 37% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

46th percentile

0.04x

Higher debt load relative to revenue than 46% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Net Margin

33rd percentile

-0.6%

Higher net margin than 33% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

80th percentile

$126,157

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 27.7% of source-year revenue.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Asset Growth

27th percentile

-4.8%

Faster asset growth than 27% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

23rd percentile

-6.2%

Faster revenue growth than 23% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets37th percentile

Assets

Down

$940,681

Down $47,902 (-4.8%) from 2017

Net Assets

Down

$922,275

Down $2,898 (-0.3%) from 2017

Liabilities

Down

$18,406

Down $45,004 (-71%) from 2017

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin33rd percentile

Revenue

Down

$456,103

Down $29,915 (-6.2%) from 2017

Expenses

Down

$459,002

Down $14,774 (-3.1%) from 2017

Net Income

Down

-$2,899

Down $15,141 (-124%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,163,317Liabilities 2010: $86,331Net Assets 2010: $1,076,9862010Assets 2011: $1,077,433Liabilities 2011: $37,394Net Assets 2011: $1,040,0392011Assets 2012: $1,078,197Liabilities 2012: $33,894Net Assets 2012: $1,044,3032012Assets 2013: $990,158Liabilities 2013: $5,841Net Assets 2013: $984,3172013Assets 2014: $962,253Liabilities 2014: $31,251Net Assets 2014: $931,0022014Assets 2015: $953,457Liabilities 2015: $28,242Net Assets 2015: $925,2152015Assets 2016: $924,023Liabilities 2016: $11,092Net Assets 2016: $912,9312016Assets 2017: $988,583Liabilities 2017: $63,410Net Assets 2017: $925,1732017Assets 2018: $940,681Liabilities 2018: $18,406Net Assets 2018: $922,2752018Assets 2019: $1,027,579Liabilities 2019: $66,316Net Assets 2019: $961,2632019Assets 2020: $1,141,843Liabilities 2020: $118,349Net Assets 2020: $1,023,4942020Assets 2021: $1,356,172Liabilities 2021: $150,541Net Assets 2021: $1,205,6312021Assets 2022: $1,378,886Liabilities 2022: $61,872Net Assets 2022: $1,317,0142022Assets 2023: $1,451,435Liabilities 2023: $36,783Net Assets 2023: $1,414,6522023Assets 2024: $1,958,238Liabilities 2024: $29,011Net Assets 2024: $1,929,2272024

Highlighted filing

2018

Assets$940,681
Liabilities$18,406
Net Assets$922,275
Open 2018 Filing

Operations Trend

Revenue Growth23rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2010: $408,4632010Expenses 2011: $378,4032011Expenses 2012: $471,2512012Revenue 2013: $353,481Expenses 2013: $413,467Net Income 2013: -$59,9862013Revenue 2014: $373,171Expenses 2014: $426,486Net Income 2014: -$53,3152014Revenue 2015: $416,288Expenses 2015: $422,075Net Income 2015: -$5,7872015Revenue 2016: $378,608Expenses 2016: $390,892Net Income 2016: -$12,2842016Revenue 2017: $486,018Expenses 2017: $473,776Net Income 2017: $12,2422017Revenue 2018: $456,103Expenses 2018: $459,002Net Income 2018: -$2,8992018Revenue 2019: $498,926Expenses 2019: $459,938Net Income 2019: $38,9882019Revenue 2020: $625,589Expenses 2020: $563,358Net Income 2020: $62,2312020Revenue 2021: $776,358Expenses 2021: $594,221Net Income 2021: $182,1372021Revenue 2022: $649,867Expenses 2022: $538,484Net Income 2022: $111,3832022Revenue 2023: $615,052Expenses 2023: $517,414Net Income 2023: $97,6382023Revenue 2024: $1,092,839Expenses 2024: $578,264Net Income 2024: $514,5752024

Highlighted filing

2018

Revenue$456,103
Expenses$459,002
Net Income-$2,899
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 29, 2019
Return Version
2018v3.1
Gross Receipts
$456,103
Mission and Program Overview

Mission

Assist small businesses to secure government financing for the purchase of land, buildings, and equipment which will create and/or retain jobs in minnesota and in la crosse county, wisconsin.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$715,569$762,443▲ $46,874
Other Notes and Loans Receivable, Net$132,257$119,384▼ $12,873
Pledges and Grants Receivable$135,704$51,922▼ $83,782
Accounts Receivable$2,510$4,560▲ $2,050
Prepaid Expenses and Deferred Charges$1,691$1,274▼ $417
Land, Buildings, and Equipment, Net$853$1,098▲ $245
Total Assets$988,584$940,681▼ $47,903
Liabilities
Accounts Payable and Accrued Expenses$63,410$18,406▼ $45,004
Total Liabilities$63,410$18,406▼ $45,004
Net Assets / Fund Balance
Unrestricted Net Assets$925,174$922,275▼ $2,899
Total Net Assets Fund Balance$925,174$922,275▼ $2,899
Total Liabilities and Net Assets / Fund Balance$988,584$940,681▼ $47,903

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,098$19,048$20,146
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Dwayne LeeV.p., Director of BusinessFT$126,157$126,157

Board Members and Trustees

NameTitle
Tim ClawsonPresident
Daniel VlasakVice President
Chad AndersonDirector
David MaroneyDirector
Desiree StromDirector
Diane LewisDirector
Gary TimmDirector
Joseph LangelDirector
Luann VanderwerfDirector
Mark MonsonDirector
Ron ZeiglerDirector
Stephen KasperDirector
Wendell SandeDirector
Richard WegnerSecretary
Aaron CastertonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$400,962
Investment Income
$55,141
Other Revenue
$0
Change in Net Assets
$-2,899

Audited Revenue Reconciliation

Revenue per Audited Statements
$456,103
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$456,103
Total Revenue per Form 990
$456,103
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$458,247
Grants and Similar Amounts Paid$755
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other---$36,000
Conferences and Meetings---$11,800
Fees for Services Accounting---$11,510
Advertising---$10,104
Travel---$9,771
Office Expenses---$9,559
Fees for Services Legal---$8,221
Insurance---$6,803
Other Expenses---$4,817
All Other Expenses---$1,547
Occupancy---$1,355
Grants to Domestic Orgs---$755
Depreciation Depletion---$499
Total Functional Expenses$0$0$0$459,002

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$459,002
Total Expenses per Audited Statements$459,002
Total Expenses per Form 990$459,002
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“504 corporation contracts with all staff for day-to-day management but retains responsibility for services provided and how work is to be completed, and approves the customers to be served and how they are served.”

Form 990, Part VI, Section B, Line 11B

“The board and the president review the form 990 before it is filed.”

Form 990, Part VI, Section B, Line 12C

“Conlict of interest disclosures are filled out and reviewed annually.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

Form 990, Part VII, Columns D and F

“There is reportable compensation to an officer of the organization that is paid by a common paymaster (rochester area economic development, inc., a related nonprofit organization).”

Filing and Contact Details

Filer

Filer Name
Southeastern Minnesota 504 Development
EIN
41-1678990
Phone
5072886442
Address
220 SOUTH BROADWAY NO 100, ROCHESTER, MN 55904
Doing Business As
504 Corporation

Signing Officer

Name
Dwayne Lee
Title
Director of Business Development
Phone
5072886442
Signed
2019-05-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dwayne Lee
Formed
1990
Legal Domicile
Mn
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
15

Preparer

Firm
Smith Schafer and Assoc Ltd
Address
220 SOUTH BROADWAY SUITE 102, ROCHESTER, MN 55904
Preparer
Trisha L White
Phone
5072883277
Raw XML AppendixShowing 400 of 439 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd01
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt063410
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt018406
IRS990/AccountsReceivableGrp/BOYAmt02510
IRS990/AccountsReceivableGrp/EOYAmt04560
IRS990/AcctCompileOrReviewBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0ASSIST SMALL BUSINESSES TO SECURE GOVERNMENT FINANCING FOR THE PURCHASE OF LAND, BUILDINGS, AND EQUIPMENT WHICH WILL CREATE AND/OR RETAIN JOBS IN MINNESOTA AND IN LA CROSSE COUNTY, WISCONSIN.
IRS990/AdvertisingGrp/TotalAmt010104
IRS990/AllOtherExpensesGrp/TotalAmt01547
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0DWAYNE C LEE
IRS990/BooksInCareOfDetail/PhoneNum05072886442
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0220 SOUTH BROADWAY 100
IRS990/BooksInCareOfDetail/USAddress/CityNm0ROCHESTER
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MN
IRS990/BooksInCareOfDetail/USAddress/ZIPCd055904
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOfficerEntInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConferencesMeetingsGrp/TotalAmt011800
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt0755
IRS990/CYInvestmentIncomeAmt055141
IRS990/CYOtherExpensesAmt0458247
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0400962
IRS990/CYRevenuesLessExpensesAmt0-2899
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt0459002
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0456103
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd01
IRS990/DepreciationDepletionGrp/TotalAmt0499
IRS990/Desc0PROVIDED BUSINESS LOAN PACKAGING AND SERVICING FOR THE U.S. SMALL BUSINESS ADMINISTRATION'S 504 LOAN PROGRAM WHICH ASSISTS SMALL BUSINESSES WITH THE FINANCING OF THEIR FIXED ASSET PURCHASES.
IRS990/DescribedInSection501c3Ind00
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DoingBusinessAsName/BusinessNameLine1Txt0504 CORPORATION
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt00
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/TotalAmt011510
IRS990/FeesForServicesLegalGrp/TotalAmt08221
IRS990/FeesForServicesOtherGrp/TotalAmt036000
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt02.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt12.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt22.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt32.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt42.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt52.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt62.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt72.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt82.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt92.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt102.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt112.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt122.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt132.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt142.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1540.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd12X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd13X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd14X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1523119
IRS990/Form990PartVIISectionAGrp/PersonNm0TIM CLAWSON
IRS990/Form990PartVIISectionAGrp/PersonNm1DANIEL VLASAK
IRS990/Form990PartVIISectionAGrp/PersonNm2AARON CASTERTON
IRS990/Form990PartVIISectionAGrp/PersonNm3RICHARD WEGNER
IRS990/Form990PartVIISectionAGrp/PersonNm4STEPHEN KASPER
IRS990/Form990PartVIISectionAGrp/PersonNm5RON ZEIGLER
IRS990/Form990PartVIISectionAGrp/PersonNm6MARK MONSON
IRS990/Form990PartVIISectionAGrp/PersonNm7CHAD ANDERSON
IRS990/Form990PartVIISectionAGrp/PersonNm8DESIREE STROM
IRS990/Form990PartVIISectionAGrp/PersonNm9DIANE LEWIS
IRS990/Form990PartVIISectionAGrp/PersonNm10LUANN VANDERWERF
IRS990/Form990PartVIISectionAGrp/PersonNm11JOSEPH LANGEL
IRS990/Form990PartVIISectionAGrp/PersonNm12WENDELL SANDE
IRS990/Form990PartVIISectionAGrp/PersonNm13DAVID MARONEY
IRS990/Form990PartVIISectionAGrp/PersonNm14GARY TIMM
IRS990/Form990PartVIISectionAGrp/PersonNm15DWAYNE LEE
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt15103038
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15V.P., DIRECTOR OF BUSINESS
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01990
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0550
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt015
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0755
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt0550
IRS990/GrossReceiptsAmt0456103
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt015
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/TotalAmt06803
IRS990/InvestmentIncomeGrp/ExclusionAmt054591
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt054591
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt03
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt019048
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0853
IRS990/LandBldgEquipBasisNetGrp/EOYAmt01098
IRS990/LandBldgEquipCostOrOtherBssAmt020146
IRS990/LegalDomicileStateCd0MN
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt00
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0ASSIST SMALL BUSINESSES TO SECURE GOVERNMENT FINANCING FOR THE PURCHASE OF LAND, BUILDINGS, AND EQUIPMENT WHICH WILL CREATE AND/OR RETAIN JOBS IN MINNESOTA AND IN LA CROSSE COUNTY, WISCONSIN.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0925174
IRS990/NetAssetsOrFundBalancesEOYAmt0922275
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0550
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0550
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt01355
IRS990/OfficeExpensesGrp/TotalAmt09559
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0RAEDI CONTRACT
IRS990/OtherExpensesGrp/Desc1DUES AND MEMBERSHIPS
IRS990/OtherExpensesGrp/Desc2OVERHEAD OPERATING EXP
IRS990/OtherExpensesGrp/Desc3BOARD MEMBER EXPENSE
IRS990/OtherExpensesGrp/TotalAmt0290865
IRS990/OtherExpensesGrp/TotalAmt131040
IRS990/OtherExpensesGrp/TotalAmt224356
IRS990/OtherExpensesGrp/TotalAmt34817
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0132257
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0119384
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0135704
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt051922
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01691
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01274
IRS990/PrincipalOfficerNm0DWAYNE LEE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522291
IRS990/ProgramServiceRevenueGrp/BusinessCd1522291
IRS990/ProgramServiceRevenueGrp/Desc0LOAN SERVICING REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1PROCESSING REVENUES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0278785
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1122177
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0278785
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1122177
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt0600
IRS990/PYInvestmentIncomeAmt029185
IRS990/PYOtherExpensesAmt0473176
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0456833
IRS990/PYRevenuesLessExpensesAmt012242
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0473776
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0486018
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-2899
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0715569
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0762443
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt01098
IRS990ScheduleD/EquipmentGrp/DepreciationAmt019048
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt020146
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0459002
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0456103
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01098
IRS990ScheduleD/TotalExpensesPerForm990Amt0459002
IRS990ScheduleD/TotalRevenuePerForm990Amt0456103
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0456103
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0459002
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0504 CORPORATION CONTRACTS WITH ALL STAFF FOR DAY-TO-DAY MANAGEMENT BUT RETAINS RESPONSIBILITY FOR SERVICES PROVIDED AND HOW WORK IS TO BE COMPLETED, AND APPROVES THE CUSTOMERS TO BE SERVED AND HOW THEY ARE SERVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD AND THE PRESIDENT REVIEW THE FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONLICT OF INTEREST DISCLOSURES ARE FILLED OUT AND REVIEWED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THERE IS REPORTABLE COMPENSATION TO AN OFFICER OF THE ORGANIZATION THAT IS PAID BY A COMMON PAYMASTER (ROCHESTER AREA ECONOMIC DEVELOPMENT, INC., A RELATED NONPROFIT ORGANIZATION).
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VII, COLUMNS D AND F
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ROCHESTER AREA ECONOMIC DEVELOPMENT INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0363414363
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ATTRACT RETAIN AND ASSIST GROWTH/EXPANSION OF BASE BUSINESS IN ROCHESTER, MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0220 SOUTH BROADWAY SUITE 100
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ROCHESTER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd055904
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0290864
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH PAID
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0ROCHESTER AREA ECONOMIC DEVELOPMENT INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0988584
IRS990/TotalAssetsEOYAmt0940681
IRS990/TotalAssetsGrp/BOYAmt0988584
IRS990/TotalAssetsGrp/EOYAmt0940681
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0459002
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt063410
IRS990/TotalLiabilitiesEOYAmt018406
IRS990/TotalLiabilitiesGrp/BOYAmt063410
IRS990/TotalLiabilitiesGrp/EOYAmt018406
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0925174
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0922275
IRS990/TotalOtherCompensationAmt023119
IRS990/TotalProgramServiceRevenueAmt0400962
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt054591
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0401512
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0456103
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt015
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0988584
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0940681
IRS990/TotReportableCompRltdOrgAmt0103038
IRS990/TravelGrp/TotalAmt09771
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0925174
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0922275
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0220 SOUTH BROADWAY NO 100
IRS990/USAddress/CityNm0ROCHESTER
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055904
IRS990/VotingMembersGoverningBodyCnt015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$940,681
Liabilities
$18,406
Net assets
$922,275
Revenue
$456,103
Expenses
$459,002
Net income
-$2,899
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.96$0.03$1.93$1.09$0.58$0.51
2023Detailed filing. Detailed filing data is available for this year.$1.45$0.04$1.41$0.62$0.52$0.10
2022Detailed filing. Detailed filing data is available for this year.$1.38$0.06$1.32$0.65$0.54$0.11
2021Detailed filing. Detailed filing data is available for this year.$1.36$0.15$1.21$0.78$0.59$0.18
2020Detailed filing. Detailed filing data is available for this year.$1.14$0.12$1.02$0.63$0.56$0.06
2019Detailed filing. Detailed filing data is available for this year.$1.03$0.07$0.96$0.50$0.46$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.94$0.02$0.92$0.46$0.46$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.99$0.06$0.93$0.49$0.47$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.92$0.01$0.91$0.38$0.39$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.95$0.03$0.93$0.42$0.42$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.96$0.03$0.93$0.37$0.43$0.05
2013Detailed filing. Detailed filing data is available for this year.$0.99$0.01$0.98$0.35$0.41$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$0.03$1.04$0.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$0.04$1.04$0.38
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$0.09$1.08$0.41