2019-05-15T12:19:49-07:00 2018-12-31 390803883 Gordon J Maier & Company LLP 845 Wisconsin Avenue Racine WI 53403 990 2018-01-01 930846583 RACINE COUNTY ECONOMIC DEVELOPMENT CORPORATION RACI 2628987412 2320 RENAISSANCE BLVD STURTEVANT WI 53177 JENNY TRICK Executive Director 2019-05-15 true JULIE CRAIG CPA P01335456 2626347108 2018 2019-02-21 02:37:17Z 2320 RENAISSANCE BLVD STURTEVANT WI 53177 1918897 false false X WWW.RACINECOUNTYEDC.ORG X 1983 WI To provide Economic Development services including business recruitment, expansion, business financing, community and workforce developement. 30 30 24 0 5478615 916951 793741 864989 1320 4715 111857 132242 6385533 1918897 0 0 957329 1036034 0 13978 1148936 728921 2106265 1764955 4279268 153942 16094143 16401815 3096055 3249785 12998088 13152030 To provide Economic Development services including business recruitment, expansion, business financing, community and workforce developement. false false 732114 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. 438670 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. 398480 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. 1569264 true false false false false false false false false false true false false false true 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 false true 45 0 true 24 true false false false false false false false false 0 false false false false false false false false false false false false X 30 30 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 X TOM MAHONEY 1st Vice Pres 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 GREGORY BARRON President 1.00 0.00 X X 0 0 0 JENNY L TRICK Executive Dir. 40.00 0.00 X 0 0 0 CORY MASON Director 1.00 0.00 X 0 0 0 LISA JUST Secretary 1.00 0.00 X X 0 0 0 JONATHAN DELAGRAVE Director 1.00 0.00 X 0 0 0 JIM MCPHAUL Chairman 1.00 0.00 X X 0 0 0 JEFF MOLINSKI 2nd Vice Pres 1.00 0.00 X X 0 0 0 0 false false false 0 174575 742376 916951 ANNUAL MEETING 32815 32815 INT-REVOLVING LOAN FUND 561000 81987 81987 REVOLVING LOAN FUND ADMIN 561000 54045 54045 SBA 504 SERVICES FEES 561000 317518 317518 WORKFORCE DEVELOPMENT 561000 314667 314667 63957 63957 864989 4715 4715 0 0 0 0 0 0 0 FORGIVENESS OF LOAN 525990 110429 110429 MISCELLANEOUS INCOME 525990 21813 21813 132242 1918897 997231 4715 X 0 0 0 0 125569 107989 16323 1257 0 794760 684047 102806 7907 45301 38958 5890 453 0 70404 60547 9153 704 0 1129 1128 1 0 0 0 0 98702 89660 8396 646 0 0 0 0 40514 35087 5039 388 0 0 0 335 288 44 3 0 3657 3146 474 37 121474 104468 15791 1215 FORGIVABLE LOAN EXPENSE 100000 100000 MATCHING GRANT EXPENSE- 70926 70926 mARKETING CONSULTING 47040 40455 6115 470 Annual Meeting 34758 29904 4507 347 210386 202661 7174 551 1764955 1569264 181713 13978 50268 0 4624924 4724016 0 318658 271558 0 0 10542714 10873938 0 12122 13431 64469 59053 9073 5416 0 0 0 217551 217551 318833 295905 16094143 16401815 127247 187688 341671 317680 2627137 2744417 3096055 3249785 X 11727658 12645850 1270430 506180 12998088 13152030 16094143 16401815 153942 X false true X true true true X 2039944 1780957 1503602 5478615 742376 11545494 0 0 2039944 1780957 1503602 5478615 742376 11545494 0 11545494 1144 982 1085 1320 4715 9246 0 989817 1003717 1088112 904170 999550 4985366 16540106 40141 0.69800 0.72270 X 64469 59053 5416 5416 FUNDS HELD IN TRUST 2523562 NOTES PAYABLE 220855 2744417 1921216 2319 2319 1918897 1918897 1767274 2319 2319 1764955 1764955 Client Note 1 Client Note 1 - Form 990, Part VI, Line 11b: Form 990 Review Process The Form 990 is reviewed by the internal financial staff, 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. Form 990, Part IX, Line 24e: Other Expenses : Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e: Other Expenses : Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e: Other Expenses : Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e: Other Expenses : Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e: Other Expenses : Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e: Other Expenses : Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e: Other Expenses BAD DEBTS: Column (A) - Total = $20978; Column (B) - Program Services = $20978; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e: Other Expenses BANK CHARGES: Column (A) - Total = $825; Column (B) - Program Services = $710; Column (C) - Management & General = $107; Column (D) - Fundraising = $8 Form 990, Part IX, Line 24e: Other Expenses Board Meeting: Column (A) - Total = $411; Column (B) - Program Services = $353; Column (C) - Management & General = $54; Column (D) - Fundraising = $4 Form 990, Part IX, Line 24e: Other Expenses CONTINGENCY: Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e: Other Expenses CONTRACT SERVICES: Column (A) - Total = $5421; Column (B) - Program Services = $4662; Column (C) - Management & General = $705; Column (D) - Fundraising = $54 Form 990, Part IX, Line 24e: Other Expenses DUES & SUBSCRIPTIONS: Column (A) - Total = $16619; Column (B) - Program Services = $16232; Column (C) - Management & General = $359; Column (D) - Fundraising = $28 Form 990, Part IX, Line 24e: Other Expenses LIVING AS A LEADER: Column (A) - Total = $4266; Column (B) - Program Services = $4266; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e: Other Expenses LOAN PROCESSING FEES: Column (A) - Total = $6874; Column (B) - Program Services = $6874; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e: Other Expenses MARKETING: Column (A) - Total = $12734; Column (B) - Program Services = $11833; Column (C) - Management & General = $837; Column (D) - Fundraising = $64 Form 990, Part IX, Line 24e: Other Expenses OFFICE EQUIP & REPAIRS: Column (A) - Total = $1416; Column (B) - Program Services = $1416; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e: Other Expenses OFFICE EXPENSE: Column (A) - Total = $12008; Column (B) - Program Services = $10915; Column (C) - Management & General = $1015; Column (D) - Fundraising = $78 Form 990, Part IX, Line 24e: Other Expenses Postage and Shipping: Column (A) - Total = $1262; Column (B) - Program Services = $1112; Column (C) - Management & General = $139; Column (D) - Fundraising = $11 Form 990, Part IX, Line 24e: Other Expenses Printing and Publications: Column (A) - Total = $7416; Column (B) - Program Services = $6731; Column (C) - Management & General = $636; Column (D) - Fundraising = $49 Form 990, Part IX, Line 24e: Other Expenses ROOTWORKS: Column (A) - Total = $28500; Column (B) - Program Services = $28500; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e: Other Expenses SEED-RFL GRANT: Column (A) - Total = $7000; Column (B) - Program Services = $7000; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e: Other Expenses SOFTWARE: Column (A) - Total = $597; Column (B) - Program Services = $524; Column (C) - Management & General = $68; Column (D) - Fundraising = $5 Form 990, Part IX, Line 24e: Other Expenses TELEPHONE: Column (A) - Total = $20245; Column (B) - Program Services = $18169; Column (C) - Management & General = $1928; Column (D) - Fundraising = $148 Form 990, Part IX, Line 24e: Other Expenses Training: Column (A) - Total = $12082; Column (B) - Program Services = $11702; Column (C) - Management & General = $353; Column (D) - Fundraising = $27 Form 990, Part IX, Line 24e: Other Expenses TRAVEL & ENTERTAINMENT: Column (A) - Total = $26304; Column (B) - Program Services = $25278; Column (C) - Management & General = $953; Column (D) - Fundraising = $73 Form 990, Part IX, Line 24e: Other Expenses WORK SHOPS AND SEMINARS: Column (A) - Total = $1435; Column (B) - Program Services = $1413; Column (C) - Management & General = $20; Column (D) - Fundraising = $2 Form 990, Part IX, Line 24e: Other Expenses WS INITIATIVES: Column (A) - Total = $23993; Column (B) - Program Services = $23993; Column (C) - Management & General = $0; Column (D) - Fundraising = $0