2021-05-17T08:39:09-07:00 2020-12-31 390803883 Gordon J Maier & Company LLP 845 Wisconsin Avenue Racine WI 53403 990 2020-01-01 930846583 RACINE COUNTY ECONOMIC DEVELOPMENT CORPORATION RACI 2628987424 2320 RENAISSANCE BLVD STURTEVANT WI 53177 GREGORY BARRON President 2021-05-17 true GREGORY BARRON 999009999 JULIE CRAIG CPA P01335456 2626347108 2 AAL1 IAL1 FAL1 2020 2022-09-23 18:48:47Z 2320 RENAISSANCE BLVD STURTEVANT WI 53177 2026860 false X WWW.RACINECOUNTYEDC.ORG X 1983 WI To provide Economic Development services including business recruitment, expansion, business financing, community and workforce developement. 10 10 14 0 864117 883186 778193 829385 9624 12186 113237 302103 1765171 2026860 0 0 954071 965069 0 22963 1238579 1284153 2192650 2249222 -427479 -222362 16629514 14555295 3904963 2514385 12724551 12040910 To provide Economic Development services including business recruitment, expansion, business financing, community and workforce developement. false false 1320340 BUSINESS FINANCE PROGRAM - 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. 597114 Business Development- Conducts various business development programs as part of its Business Development Plan Division. These programs include business retention and expansion 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. 43655 Workforce Development- Provides employer and job seeker services at the Workforce Development Center. Also working in developing policies and programs to assist in the positive development of the Racine County workforce that may be implemented by a variety of partner agencies in Racine County. 1961109 true false false false false false false false false false true false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 57 0 true 14 true false false false false false false false 0 false false false false false false false X 10 10 false false false false false false false true true false false true true true true true true true true false WI X JENNY TRICK 2628987424 2320 RENAISSANCE BLVD STURTEVANT WI 53177 JENNY L TRICK Executive Dir. 40.00 0.00 X 132701 0 0 JIM MCPHAUL Chairman 1.00 0.00 X X 0 0 0 DAVID GRIFFITH 3RD VICE PRES 1.00 0.00 X X 0 0 0 JOHN CRIMMINGS Treasurer 1.00 0.00 X X 0 0 0 JULIE ANDERSON Director 1.00 0.00 X 0 0 0 LISA JUST Secretary 1.00 0.00 X X 0 0 0 TOM MAHONEY 1ST VICE PRES 1.00 0.00 X X 0 0 0 GREGORY BARRON President 1.00 0.00 X X 0 0 0 JEFF MOLINSKI 2ND VICE PRES 1.00 0.00 X X 0 0 0 CORY MASON Director 1.00 0.00 X 0 0 0 JONATHAN DELAGRAVE Director 1.00 0.00 X 0 0 0 132701 1 false false false 0 166920 716266 883186 CEO RT 561000 37400 37400 REVOLVING LOAN FUND ADMIN 561000 173917 173917 REVOLVING LOAN PREP FEES 561000 55868 55868 SBA 504 SERVICES FEES 561000 481979 481979 WORKFORCE DEVELOPMENT 561000 49218 49218 31003 31003 829385 12186 12186 0 0 0 0 0 0 0 FORGIVENESS OF LOAN 525990 300126 300126 MISCELLANEOUS INCOME 525990 1977 1977 302103 2026860 1131488 12186 0 0 0 0 132701 114123 17251 1327 0 653838 545286 106973 1579 36621 16891 19318 412 82038 39290 41870 878 59871 28662 30555 654 0 5105 4478 590 37 105004 87395 16573 1036 0 0 0 47841 42896 4654 291 0 0 0 0 41386 34880 6123 383 0 0 8354 8186 158 10 210 149 56 5 0 10825 9014 1704 107 27639 23078 4293 268 FORGIVABLE LOAN EXPENSE 697500 697500 MATCHING GRANT EXPENSE- 89240 89240 BAD DEBT EXPENSE 56789 56789 MARKETING CONSULTANT 48000 39840 7680 480 146260 123412 7352 15496 2249222 1961109 265150 22963 0 5966302 5897824 0 268297 211430 0 0 9861068 7902186 0 29015 40788 86244 50777 14304 35467 0 0 0 217551 217551 272977 250049 16629514 14555295 206558 222322 177483 78200 290960 262773 3407445 1773607 3904963 2514385 X 12226349 11549948 498202 490962 12724551 12040910 16629514 14555295 -222362 -461279 X false true X true true true X 1503602 5478615 742376 871808 883186 9479587 0 0 1503602 5478615 742376 871808 883186 9479587 0 9479587 1085 1320 4715 9624 12186 28930 0 1088112 904170 999550 888622 1129511 5009965 14518482 44926 0.65290 0.67920 X 86244 50777 35467 35467 FUNDS HELD IN TRUST 1773607 1773607 Client Note 1 Client Note 1 - Form 990, Part VI, Line 11b: Form 990 Review Process The Form 990 is reviewed by an outside accoutant, Executive Director, and the Board of Directors which is the governing body of RCEDC. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts 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, Line 15a: Compensation Review & Approval Process - CEO, Top Management The Executive Director's salary is reviewed annually by the Board of Directors and comparable wage figures are analyzed. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees There is one RCEDC non-voting officer who is also a key employee who receives compensation and RCEDC has not identified any other key employees. However, the RCEDC Board of Directors reviews the annual budget which includes the wages benefits, and related staff expenses. Upon approval of the budget, a written directive on changes in salary is signed by the executive director and provided to the RCDEC controller who implements the salary changes. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The RCEDC provides copies of its Form 990 to the full board and the Form 990 and other documents are available at the RCEDC offices for inspection upon request.