2023-05-11T09:22:26-05:00 2022-12-31 390919055 RITZ HOLMAN LLP 330 E KILBOURN AVE SUITE 550 MILWAUKEE WI 53202 990 2022-01-01 930846583 RACINE COUNTY ECONOMIC DEVELOPMENT CORPORATION RACI 2628987424 2320 RENAISSANCE BLVD STURTEVANT WI 53177 DAVID GRIFFITH PRESIDENT 2628987424 2023-05-11 1 DAVID GRIFFITH 999009999 0 DIANA G LUTTMANN P01075770 4142711451 2023-05-11 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DAVID GRIFFITH 2320 RENAISSANCE BLVD STURTEVANT WI 53177 3305317 0 X WWW.RACINECOUNTYEDC.ORG X 1983 WI TO PROVIDE ECONOMIC DEVELOPMENT SERVICES INCLUDING BUSINESS RECRUITMENT, EXPANSION, BUSINESS FINANCING, COMMUNITY AND WORKFORCE DEVELOPMENT. 10 10 19 58 0 0 3526729 2390464 924651 877193 815 15561 7810 22099 4460005 3305317 50718 379395 0 0 1073830 1288990 0 0 32751 1187163 272973 2311711 1941358 2148294 1363959 11510127 13208071 1758182 2090428 9751945 11117643 TO PROVIDE ECONOMIC DEVELOPMENT SERVICES INCLUDING BUSINESS RECRUITMENT, EXPANSION, BUSINESS FINANCING, COMMUNITY AND WORKFORCE DEVELOPMENT. 0 0 1079073 355156 824706 BUSINESS FINANCE: MANAGES A NUMBER OF GOVERNMENT AND QUASI-GOVENRMENT BUSINESS FINANCING PROGRAMS THAT PROVIDE LOW-INTEREST LOANS TO RACINE COUNTY BUSINESSES. RCEDC IS ALSO A SMALL BUSINESS ADMINISTRATION (SBA)CERTIFIED DEVELOPMENT COMPANY, AND AS A RESULT, PROVIDES SBA 504 FIXED ASSET LOANS THROUGHOUT THE STATE OF WISCONSIN. ALSO, UTILIZES THEIR RESOURCES TO MANAGE CERTAIN COMMUNITY-BASED REVOLVING LOAN FUNDS IN SOUTHEAST WISCONSIN. 486564 24239 52487 BUSINESS DEVELOPMENT: CONDUCTS VARIOUS BUSINESS DEVELOPMENT PROGRAMS AS PART OF ITS ECONOMIC DEVELOPMENT PLAN DIVISION. THESE PROGRAMS INCLUDE BUSINESS RETENTION AND EXPANSION AND TALENT ATTRACTION TO IDENTIFY AND IMPLEMENT STRATEGIES TO ADDRESS THE NEEDS OF EXISTING BUSINESSES THROUGHOUT RACINE COUNTY. IT ALSO CONDUCTS BUSINESS RECRUITMENT FOR COMPANIES THAT ARE SEEKING A LOCATION FOR BUSINESS IN RACINE COUNTY.COMMUNITY DEVELOPMENT: PROVIDES A VARIETY OF COMMUNITY DEVELOPMENT ASSISTANCE, SUCH AS BROWNFIELD AND GENERAL PROPERTY REDEVELOPMENT, DOWNTOWN AND COMMERCIAL CORRIDOR ASSISTANCE, THE CREATION AND EXPANSION OF BUSINESS PARKS, AND THE PROVISION OF SANITARY SEWER AND PUBLIC WATER TO AREAS THAT WILL ENABLE FUTURE BUSINESS DEVELOPMENT. 1565637 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 40 0 1 19 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 WI X JENNY TRICK 2628987424 2320 RENAISSANCE BLVD STURTEVANT WI 53177 LISA JUST CHAIRMAN 1.00 X X 0 0 0 GREGORY BARRON PRESIDENT 1.00 X X 0 0 0 DAVID GRIFFITH 1ST VP 1.00 X X 0 0 0 SCOTT MENKE 2ND VP 1.00 X X 0 0 0 LANDON WIRTH 3RD VP 1.00 X X 0 0 0 WESLEY RICCHIO SECRETARY 1.00 X X 0 0 0 KARLA KREHBIEL TREASURER 1.00 X X 0 0 0 JULIE ANDERSON DIRECTOR 1.00 X 0 0 0 JONATHAN DELAGRAVE DIRECTOR 1.00 X 0 0 0 CORY MASON DIRECTOR 1.00 X 0 0 0 JENNY TRICK EXECUTIVE DIRECTOR 40.00 X 166197 0 28239 CAROLYN ENGEL BUSINESS FINANCE MANAGER 40.00 X 135015 0 28556 301212 0 56795 2 0 1 0 CLIFTONLARSONALLEN LLP 220 S 6TH ST STE 300 MINNEAPOLIS MN 55402 ACCOUNTING 135434 1 162795 2195059 32610 2390464 SBA SERVICE FEES 522291 530866 530866 REVOLVING LOAN ADMIN 522291 223402 223402 MGT FEES REAL RACINE 611430 39646 39646 CEO ROUNDTABLE 611430 34000 34000 REVOLVING LOAN PREP 522291 30791 30791 18488 18488 877193 15561 15561 MISCELLANEOUS 611430 22099 22099 22099 3305317 877193 0 37660 379395 379395 358006 319250 37803 953 739247 665829 71510 1908 38199 32972 5128 99 72921 59979 12696 246 80617 70401 10018 198 22298 18757 3541 155970 155970 82925 66910 16015 20736 17582 3154 18812 14010 4791 11 43771 36982 6789 32814 30656 2098 60 24357 20924 3433 29163 29163 12075 8187 3888 12576 11542 1004 30 31860 28973 2804 83 WORKSHOPS AND SEMINARS 30032 30032 STAFF TRAINING AND DEVE 8923 7429 1494 DUES AND SUBSCRIPTIONS 7698 6864 834 LOAN PROCESSING COSTS 6941 6941 -267978 -267978 1941358 1565637 342970 32751 5543610 5939741 250757 250952 23845 0 142403 178551 5113708 6409982 41665 44845 93728 75086 29467 18642 217551 217551 147121 147807 11510127 13208071 309285 146908 10125 14325 231350 201426 1207422 1727769 1758182 2090428 X 9654328 11008004 97617 109639 9751945 11117643 11510127 13208071 X 1363959 1739 X 0 1 X 1 1 1 X 742376 871808 883186 3526729 2390464 8414563 742376 871808 883186 3526729 2390464 8414563 8414563 4715 9624 12186 815 15561 42901 7810 22099 29909 8487373 4819527 0.99140 0.74400 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 93728 75086 18642 18642 UNDISBURSED LOAN FUND CAPITAL 1705827 OPERATING LEASE-CURRENT 11880 OPERATING LEASE-LONG-TERM 10062 1727769 X 3305317 0 3305317 0 3305317 1941358 0 1941358 0 1941358 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF INTERNAL REVENUE CODE AND IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION. MANAGEMENT HAS REVIEWED ALL TAX POSITIONS RECOGNIZED IN PREVIOUSLY FILED TAX RETURNS AND THOSE EXPECTED TO BE TAKEN IN FUTURE TAX RETURNS. AS OF DECEMBER 31, 2022, THE ORGANIZATION HAD NO AMOUNTS RELATED TO UNRECOGNIZED INCOME TAX BENEFITS AND NO AMOUNTS RELATED TO ACCRUED INTEREST AND PENALTIES. 1 MARIE ALISE BEAUTY 5739 RIDGECREST DR MOUNT PLEASANT WI 53403 5768 0 ECONOMIC RELIEF MICHELLE'S PARLOR LLC 5801 WASHINGTON 101 MOUNT PLEASANT WI 53406 8024 0 ECONOMIC RELIEF WINGS STUDIO AND BOUTIQUE LLC 28505 75TH ST SALEM WI 53168 8815 0 ECONOMIC RELIEF GRAPHIC SIGN SHOP INC 1200 15TH AVE UNION GROVE WI 53182 271052268 9824 0 ECONOMIC RELIEF BEAUTY & BROW ARTISTRY LLC 1222 MAIN ST 8 UNION GROVE WI 53182 11647 0 ECONOMIC RELIEF LIBERTY PRINTING 4133 COURTNEY STREET UNIT 3 FRANKSVILLE WI 53126 270787557 11997 0 ECONOMIC RELIEF BALANCE OF MIND COUNSELING AND BEHAVIORAL SERVICES 826 MAIN STREET SUITE 1 UNION GROVE WI 53182 834110772 12000 0 ECONOMIC RELIEF BALANCED FITNESS SOLUTIONS 401 90TH STREET MOUNT PLEASANT WI 53406 12000 0 ECONOMIC RELIEF BUISSE CUSTOM ARMS 921 COMMERCE DRIVE UNIT 2 UNION GROVE WI 53182 463852997 12000 0 ECONOMIC RELIEF CABBAGE HEADS INC 3311 HWY H FRANKSVILLE WI 53126 820559589 12000 0 ECONOMIC RELIEF CAIN FITNESS LLC 10510 S JESSICA DR OAK CREEK WI 53154 471960885 12000 0 ECONOMIC RELIEF CITRINE PROFESSIONAL SKIN CARE & MORE 4605 WASHINGTON AVE SUITE 1 MOUNT PLEASANT WI 53406 12000 0 ECONOMIC RELIEF CORE CONNECT STRATEGIES LLC 1414 FOX TRAIL DR MOUNT PLEASANT WI 53406 812969964 12000 0 ECONOMIC RELIEF DESTROY IRON FITNESS LLC 1542 PRAIRIE DR MOUNT PLEASANT WI 53406 842930299 12000 0 ECONOMIC RELIEF GIA BELLA FLOWERS GIFTS LLC 133 E CHESTNUT ST BURLINGTON WI 53185 271441824 12000 0 ECONOMIC RELIEF HOGS NEST SALOON 4301 S BEAUMONT AVE KANSASVILLE WI 53139 391776157 12000 0 ECONOMIC RELIEF JD HEGEMANN ENTERPRISES LLC 655 TRAILVIEW COURT WATERFORD WI 53185 12000 0 ECONOMIC RELIEF NO LIMIT REMODELING LLC 26727 DENOON RD WIND LAKE WI 53185 473963300 12000 0 ECONOMIC RELIEF O'BRIEN'S TIRE LLC 4800 OLD GREEN BAY RD MOUNT PLEASANT WI 53403 823241147 12000 0 ECONOMIC RELIEF SALON GLOSS 6800 WASHINGTON AVE SUITE D2 RACINE WI 53406 274360513 12000 0 ECONOMIC RELIEF SCHOOL DAYS MALL ANTIQUES LLC 9500 DURANT AVE STURTEVANT WI 53177 12000 0 ECONOMIC RELIEF SHERWOOD GAME FARM 2713 3 MILE ROAD RACINE WI 53404 12000 0 ECONOMIC RELIEF STEPHANS AUTO SERVICE 6251 DOUGLAS AVE RACINE WI 53402 243401136 12000 0 ECONOMIC RELIEF STRUCKN DESIGN LLC 5144 DOUGLAS AVE SUITE B RACINE WI 53402 821087595 12000 0 ECONOMIC RELIEF WOOD MASTERS CUSTOM FURNITURE 1208 CENTER DRIVE UNION GROVE WI 53185 900547368 12000 0 ECONOMIC RELIEF RESERVOIR VIDEO 410 MAIN STREET B RACINE WI 53403 824263521 11000 0 MOUNT PLEASANT TOURISM PART I, LINE 2: EACH GRANT PROGRAM IS GOVERNED BY PROCEDURES APPROVED BY THE FUNDING AGENCY. RCEDC CREATES MARKETING MATERIALS INCLUDING AN APPLICATION FOR INTERESTED PARTIES TO APPLY FOR THE GRANT DOLLARS. COMPLETED APPLICATIONS ARE RECEIVED BY STAFF AND PRESENTED TO THE LOAN ADVISORY COMMITTEE FOR ACTION. UPON APPROVAL, STAFF PROVIDES A GRANT AWARD LETTER ALLOWING THE RECIPIENT TO EXPEND FUNDS. THE APPLICANT IS RESPONSIBLE TO SUPPLY RECEIPTS THAT ALIGNS WITH THE APPROVED APPLICATION. RCEDC STAFF THEN REIMBURSES THE APPLICANT FOR THE APPROVED EXPENSES INCURRED. X 1 0 0 0 0 1 0 1 0 JENNY TRICK EXECUTIVE DIRECTOR 160853 0 5344 0 0 0 0 0 28239 0 194436 0 0 0 CAROLYN ENGEL BUSINESS FINANCE MANAGER 96755 0 4370 0 33890 0 0 0 28556 0 163571 0 0 0 PART I, LINE 4A CAROLYN ENGEL RECEIVED SEVERANCE AND HEALTHCARE COVERAGE SUPPORT OF $33,890. PART I, LINE 6 THE BONUS PROVIDED WAS CONTINGENT ON SURPLUS ABOVE BUDGET. PART I, LINE 7 BONUSES WERE PROVIDED BASED ON MERIT AND CONDITIONAL ON SURPLUS ABOVE BUDGET. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY AN OUTSIDE ACCOUNTANT, EXECUTIVE DIRECTOR, AND THE BOARD OF DIRECTORS WHICH IS THE GOVERNING BODY OF RCEDC. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO REPORT CONFLICT OF INTEREST AS THEY ARISE. ADDITIONALLY, THEY MUST ANNUALLY COMPLETE A CONFLICT OF INTEREST FORM. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS ADOPTED A COMPENSATION POLICY FOR THE EXECUTIVE DIRECTOR AND STAFF THAT INCLUDES THE ENGAGEMENT OF A THIRD-PARTY CONSULTANT TO REVIEW SALARIES AND MARKET CONDITIONS. THE BOARD DIRECTS THE EXECUTIVE DIRECTOR TO INCORPORATE THE SALARY RECOMMENDATIONS WITHIN THE NEXT YEAR'S BUDGET. ONCE THE BUDGET IS ADOPTED BY THE BOARD, THE EXECUTIVE DIRECTOR PREPARES AND SIGNS INDIVIDUAL MEMOS FOR EACH STAFF INDICATING ANY SALARY CHANGES. THE EXECUTIVE DIRECTOR ALSO PREPARES A SIMILAR MEMO FOR THE EXECUTIVE DIRECTOR, WHICH IS REVIEWED AND SIGNED BY THE BOARD PRESIDENT. THE EXECUTIVE DIRECTOR ALSO SENDS REQUIRED PAPERWORK TO ITS PAYROLL COMPANY TO MAKE THE APPROVED CHANGES. FORM 990, PART VI, SECTION C, LINE 19 THE 990 AND OTHER DOCUMENTS ARE AVAILABLE AT THE RCEDC OFFICES FOR INSPECTION UPON REQUEST. FORM 990, PART XI, LINE 9: TOPIC 842 ADJUSTMENT 1,739. RACINE DEVELOPMENT GROUP REVOLVING LOAN FUND LLC 2320 RENAISSANCE BLVD STURTEVANT WI 53177 LENDING ACTIVITY WI RACINE COUNTY ECONCOMIC DEVELOPMENT CORPORATION SE WI INVESTMENT LLC 2320 RENAISSANCE BLVD STURTEVANT WI 53177 REAL ESTATE ENTITY FOR PRIVATE DEVELOPMENT PROJECTS WI RACINE COUNTY ECONCOMIC DEVELOPMENT CORPORATION