2014-05-09T09:18:01-07:00 2013-12-31 Gordon J Maier & Company LLP 845 Wisconsin Avenue Racine WI 53403 990 2013-01-01 930846583 RACINE COUNTY ECONOMIC DEVELOPMENT CORPORATION RACI 2628987412 2320 RENAISSANCE BLVD STURTEVANT WI 53177 JENNY TRICK Executive Director 2014-05-09 true JULIE CRAIG CPA P01335456 2626347108 2013 2015-11-30 17:44:51Z 2827960 false false X WWW.RACINECOUNTYEDC.ORG X 1983 WI To provide Economic Development services including business recruitment, expansion, business financing, community and workforce developement. 29 27 21 0 1723455 1928464 1056402 895078 1512 -10582 3000 15000 2784369 2827960 0 0 1216096 1143222 0 6695 388974 544587 1605070 1687809 1179299 1140151 9862919 11896440 5102445 5995815 4760474 5900625 X To provide Economic Development services including business recruitment, expansion, business financing, community and workforce developement. false false 659588 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. 512258 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. 307764 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, currently managing the loan fund for Waukesha County. 156027 1635637 true true 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 true false false false false false false false false false false true false false false false false false false false false false true 25 0 false 21 true false false false false false false false false 0 false false false false false false false false false false X 29 27 false false false false false false false true true false false true true true true true true true true false X JENNY TRICK 2628987424 2320 RENAISSANCE BLVD STURTEVANT WI 53177 GORDON KACALA Executive Dir. 40.00 0.00 X X 132230 0 24733 MIKE AIMONE Director 1.00 0.00 X 0 0 0 BRYAN ALBRECHT Chairman 1.00 0.00 X X 0 0 0 JULIE ANDERSON Director 1.00 0.00 X 0 0 0 OLA BAIYEWU Director 1.00 0.00 X 0 0 0 LAURA ANDIS BISHOP Director 1.00 0.00 X 0 0 0 FRANK BAILEY Director 1.00 0.00 X 0 0 0 JOHN DICKERT Director 1.00 0.00 X 0 0 0 DR DEBORAH FORD Director 1.00 0.00 X 0 0 0 SUSAN BOLAND Director 1.00 0.00 X 0 0 0 PETER HANSEN Director 1.00 0.00 X 0 0 0 JON HENDERSEN 1ST VICE-PRES 1.00 0.00 X X 0 0 0 BOB BRADLEY Director 1.00 0.00 X 0 0 0 MARK LEWIS Secretary 1.00 0.00 X X 0 0 0 TIM MAJCEN Director 1.00 0.00 X 0 0 0 JOHN CRIMMINGS Director 1.00 0.00 X 0 0 0 TERRY MCMAHON Director 1.00 0.00 X 0 0 0 ELAINE SUTTON EKES Director 1.00 0.00 X 0 0 0 ROBERT MILLER Director 1.00 0.00 X 0 0 0 TOM ROANHOUSE Director 1.00 0.00 X 0 0 0 JOHN HEWITT Director 1.00 0.00 X 0 0 0 VICKI LEWIS Director 1.00 0.00 X 0 0 0 MICHAEL MCNEIL Director 1.00 0.00 X 0 0 0 JENNY TRICK Deputy Director 40.00 0.00 X X 95263 0 9329 FRANCISCO SANCHEZ 2ND VICE-PRESID 1.00 0.00 X X 0 0 0 TOM SHINNERS President 1.00 0.00 X X 0 0 0 RON THOMAS Director 1.00 0.00 X 0 0 0 JAMES LADWIG Director 1.00 0.00 X 0 0 0 MARK BRAULT Treasurer 1.00 0.00 X X 0 0 0 227493 34062 1 false true false 0 129670 1798794 1928464 INT-REVOLVING LOAN FUND 561000 74910 74910 JOBS FOR RACINE COUNTY 561000 158841 158841 REVOLVING LOAN FUND ADMIN 561000 60601 60601 SBA 504 SERVICES FEES 561000 149676 149676 WORKFORCE DEVELOPMENT 561000 364591 364591 86459 86459 895078 -10582 -10582 0 0 0 0 0 0 0 MISCELLANEOUS INCOME 525990 15000 15000 15000 2827960 895078 4418 0 0 0 0 156963 132034 21957 2972 0 804325 804325 37519 37519 70700 70700 73715 73715 0 4732 4718 12 2 0 0 0 0 56777 50711 5343 723 0 0 0 0 52584 46619 5254 711 0 23187 20556 2317 314 0 604 536 60 8 0 10512 9320 1050 142 12345 10945 1233 167 ROOTWORKS 120000 120000 UPTOWN 48682 48682 WDC Expenses 41871 41871 Manufacturing Grant Expense 40919 40919 132374 122467 8251 1656 1687809 1635637 45477 6695 2937968 3489672 485689 266016 0 86869 176119 0 0 5794513 7288663 0 9701 14168 81171 47465 19098 33706 0 0 0 217551 529081 410545 9862919 11896440 82894 154127 451419 437378 4568132 5404310 5102445 5995815 X 4431894 5548293 328580 352332 4760474 5900625 9862919 11896440 1140151 X false true X true true true X 1053647 1015132 1472749 1723455 1928464 7193447 0 0 1053647 1015132 1472749 1723455 1928464 7193447 0 7193447 4347 2845 2313 1512 532 11549 0 346121 474057 467917 1059402 895078 3242575 10447571 2347497 0.68850 0.68620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 81171 47465 33706 33706 DEFERRED REVENUE 49185 FUNDS HELD IN TRUST 4582125 NOTES PAYABLE 773000 5404310 2827960 2827960 2827960 1687809 1687809 1687809 X X X X false false false false false false false false false false GORDON KACALA Executive Dir. 132230 24733 156963 Mark Brault DIRECTOR 22506 Legal Services false Schedule L, Part V Supplemental Information The Organization conducted business for legal services with a firm in which a Board member is a partner for the year ended December 31, 2013. Client Note 1 Client Note 1 - THE 2011 BALANCE SHEET HAS BEEN RESTATED DUE TO A PRIOR PERIOD ADJUSTMENT. THE AUDITED FINANCIAL STATEMENTS CONTAIN THE FOLLOWING NOTE: THE ORGANIZATION HAD ENTERED INTO SEVERAL TRANSACTIONS THAT WERE DEEMED AGENCY TRANSACTIONS. THE ORGANIZATION HAD TREATED THE FUNDS RECEIVED AS REVENUE AND REPAYMENT OF THE FUNDS AS EXPENSES. A PRIOR-PERIOD ADJUSTMENT WAS DONE TO CORRECT THE TREATMENT OF THE AGENCY TRANSACTIONS. THE ORGANIZATION'S ADJUSTMENTS RESULTED IN THE NET ASSETS AT DECEMBER 31, 2011 BEING DECREASED BY $1,424,643.As part of this adjustment, line 25 of page 11 of the 990 was restated to show the ending balance as of December 31, 2011 for these agency transactions at $1,508,759. Form 990, Part III, Line 4d: Other Program Services Description OTHER PROGRAM SERVICES 4: 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. Form 990, Part VI, Line 11b: Form 990 Review Process The Form 990 is reviewed by the internal financial staff, Executive Director, and Executive Committee of the Board of Directors which is the governing committee of the 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 Executive Committee and comparable wage figures are analyzed. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees There are two RCEDC non-voting officers that are also key employees who receive compensation and RCEDC has not identified any other key employees. However, the RCEDC President also reviews the salary changes of all RCEDC employees and a directive on changes in salary is signed and provided to the RCEDC Business Mananger 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.