Civic Intelligence

Develop America Inc.

990 • Fiscal year 2022 • EIN 47-2521449

Jan 01, 2022 to Dec 31, 2022 • Filed on May 15, 2023

PO Box 11661Shorewood, WI 53211

(414) 232-2538

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.14x

Higher debt load relative to assets than 72% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

68th percentile

0.10x

Higher debt load relative to revenue than 68% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

92nd percentile

60%

Higher net margin than 92% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

92nd percentile

$130,000

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 17.5% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Assets

$516,117

No earlier filing loaded for comparison.

Net Assets

$442,136

No earlier filing loaded for comparison.

Liabilities

$73,981

No earlier filing loaded for comparison.

Revenue

$742,745

No earlier filing loaded for comparison.

Expenses

$300,609

No earlier filing loaded for comparison.

Net Income

$442,136

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2022: $516,117Liabilities 2022: $73,981Net Assets 2022: $442,1362022Assets 2023: $452,525Liabilities 2023: $58,592Net Assets 2023: $393,9332023Assets 2024: $603,476Liabilities 2024: $90,643Net Assets 2024: $512,8332024

Highlighted filing

2022

Assets$516,117
Liabilities$73,981
Net Assets$442,136

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2022: $742,745Expenses 2022: $300,609Net Income 2022: $442,1362022Revenue 2023: $845,550Expenses 2023: $893,753Net Income 2023: -$48,2032023Revenue 2024: $584,962Expenses 2024: $466,062Net Income 2024: $118,9002024

Highlighted filing

2022

Revenue$742,745
Expenses$300,609
Net Income$442,136
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 15, 2023
Return Version
2022v5.0
Gross Receipts
$742,745
Mission and Program Overview

Mission

Develop wisconsin builds and develops business development ecosystems to more effectively and efficiently provide business owners with the resources, support, networks and access to markets that they need to grow. Communities with vibrant business ecosystems experience strong economic growth.

Develop wisconsin builds and develops business development ecosystems to more effectively and efficiently provide business owners with the resources, support, networks.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$0$516,117▲ $516,117
Pd in Cap Srpls Land Bldg Eqp Fund$0$442,136▲ $442,136
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$0$516,117▲ $516,117
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$73,981▲ $73,981
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$73,981▲ $73,981
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$442,136▲ $442,136
Total Liabilities and Net Assets / Fund Balance$0$516,117▲ $516,117
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Damon DorseyExecutive DirectorFT$130,000$130,000
Pauline Grant-jonesTreasurerPT$76,200$76,200
Maya HammouriChief Operating OfficerFT$27,609$27,609

Board Members and Trustees

NameTitle
Roxanne WilliamsMember
Maria DorseySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$742,745
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$10,100
Change in Net Assets
$442,136
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$204,508
Other Expenses$96,101
Total Fundraising Expense$141
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$157,609$0$0$157,609
Fees for Services Accounting$72,733$3,467-$76,200
Other Salaries and Wages$31,809--$31,809
Payroll Taxes$14,137--$14,137
Office Expenses$7,233$1,363$21$8,617
Occupancy$1,644$506-$2,150
All Other Expenses-$1,277$120$1,397
Other Employee Benefits$193$760-$953
Other Expenses$353$137-$353
Advertising$106--$106
Total Functional Expenses$292,837$7,631$141$300,609
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI

The board secretary is also the wife of the executive director.

Filing and Contact Details

Filer

Filer Name
Develop America Inc
EIN
47-2521449
In Care Of
% DAMON DORSEY
Phone
4142322538
Address
PO BOX 11661, SHOREWOOD, WI 53211

Signing Officer

Name
Damon Dorrsey
Title
Executive Director
Phone
4142322538
Signed
2023-05-15

Organization Details

Principal Officer
Damon Dorrsey
Voting Board Members
5
Independent Board Members
5
Employees
3

Preparer

Firm
Grant-jones CPA Pllc
Address
PO BOX 1181, TROUTMAN, NC 28166
Preparer
Pauline Grant CPA
Phone
4142351407
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD SECRETARY IS ALSO THE WIFE OF THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART VI
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DAMON DORRSEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04142322538
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DEVELOP AMERICA INC

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