2013-05-09T09:46:46-07:00 2012-12-31 Gordon J Maier & Company LLP 845 Wisconsin Avenue Racine WI 53403 990 2012-01-01 930846583 RACINE COUNTY ECONOMIC DEVELOPMENT CORPORATION RACI 2628987412 2320 RENAISSANCE BLVD STURTEVANT WI 53177 GORDON KACALA 2013-05-09 true JULIE CRAIG CPA P01335456 2626347108 2012 2016-02-25 16:41:14Z 2784369 false false X WWW.RACINECOUNTYEDC.ORG X 1983 WI To provide Economic Development services including business recruitment, expansion, business financing, community and workforce developement. 28 28 28 0 1472749 1723455 461529 1056402 2313 1512 6388 3000 1942979 2784369 0 0 1094903 1216096 0 5745 428989 388974 1523892 1605070 419087 1179299 5646055 9862919 2064880 5102445 3581175 4760474 X To provide Economic Development services including business recruitment, expansion, business financing, community and workforce developement. false false 619035 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. 492108 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. 300492 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. 156179 1567814 true true false false false false false false false false true false false true 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 37 0 false 28 true false false false false false false false false 0 false false false false false false false false false false X 28 28 false false false false false false false true true false false true true true true true true true true false X GORDON KACALA 2628987412 2320 RENAISSANCE BLVD STURTEVANT WI 53177 AHMAD QAWI 1.00 0.00 X 0 0 0 MARK BRAULT 1.00 0.00 X 0 0 0 JAMES LADWIG 1.00 0.00 X 0 0 0 EUGENE SZYMZAK 1.00 0.00 X 0 0 0 RON THOMAS 1.00 0.00 X 0 0 0 TOM SHINNERS 1.00 0.00 X X 0 0 0 MICHAEL BURNS 1.00 0.00 X 0 0 0 FRANCISCO SANCHEZ 1.00 0.00 X 0 0 0 CAROLYN MILKIE 1.00 0.00 X 0 0 0 JEFF MCKEOWN 1.00 0.00 X X 0 0 0 DAVE PERKINS 1.00 0.00 X 0 0 0 TOM ROANHOUSE 1.00 0.00 X 0 0 0 ROBERT MILLER 1.00 0.00 X 0 0 0 TERRY MCMAHON 1.00 0.00 X 0 0 0 DAVID MAY 1.00 0.00 X 0 0 0 TIM MAJCEN 1.00 0.00 X 0 0 0 MARK LEWIS 1.00 0.00 X 0 0 0 DANIEL HORTON 1.00 0.00 X X 0 0 0 JON HENDERSEN 1.00 0.00 X X 0 0 0 PETER HANSEN 1.00 0.00 X 0 0 0 MARK GELHAUS 1.00 0.00 X X 0 0 0 DR DEBORAH FORD 1.00 0.00 X 0 0 0 JOHN DICKERT 1.00 0.00 X 0 0 0 RON COUTTS 1.00 0.00 X 0 0 0 OLA BAIYEWU 1.00 0.00 X 0 0 0 JULIE ANDERSON 1.00 0.00 X 0 0 0 BRYAN ALBRECHT 1.00 0.00 X X 0 0 0 MIKE AIMONE 1.00 0.00 X 0 0 0 GORDON KACALA 40.00 0.00 X 129020 0 26534 129020 26534 1 false true false 0 128238 1595217 1723455 WORKFORCE DEVELOPMENT 561000 496135 496135 SBA 504 SERVICES FEES 561000 159662 159662 REVOLVING LOAN FUND ADMIN 561000 27304 27304 JOBS FOR RACINE COUNTY 561000 248839 248839 INT-REVOLVING LOAN FUND 561000 74214 74214 50248 50248 1056402 1512 1512 0 0 0 0 0 0 0 MISCELLANEOUS INCOME 525990 3000 3000 3000 2784369 1056402 4512 0 0 0 0 155554 145175 8779 1600 0 888810 884310 3800 700 40292 40242 50 54421 54396 25 77019 75747 1069 203 0 219 198 18 3 0 0 0 0 55557 51256 3638 663 0 0 0 0 51426 46296 4339 791 0 20559 19096 1238 225 0 650 585 55 10 0 9455 8512 798 145 12517 11268 1056 193 Training 27722 26121 1354 247 Manufacturing Renewal Grant 29473 29473 Minority Matching Grant 31486 31486 WDC Expenses 60314 60314 89596 83339 5292 965 1605070 1567814 31511 5745 2234401 2937968 240994 485689 0 126375 86869 0 0 2467321 5794513 0 9074 9701 62543 43445 28553 19098 0 0 0 0 539337 529081 5646055 9862919 87065 82894 469056 451419 1508759 4568132 2064880 5102445 X 3257925 4431894 323250 328580 3581175 4760474 5646055 9862919 1179299 X false true X true true true X 1033719 1053647 1015132 1472749 1723455 6298702 0 0 1033719 1053647 1015132 1472749 1723455 6298702 0 6298702 4587 4347 2845 2313 1512 15604 0 517364 346121 474057 467917 1059402 2864861 9179167 2864861 0.68620 0.73130 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 62543 43445 19098 19098 VOC Credits 80000 Promises to Give 12672 Prepaid Lease 353473 Investment in RDG 82936 529081 FUNDS HELD IN TRUST 4568132 4568132 2787074 2705 2705 2784369 2784369 1607775 2705 2705 1605070 1605070 X X X X false false false false false false false false false false GORDON KACALA 129020 26534 155554 Mark Brault DIRECTOR 15209 Legal Services false The Organization conducted business for legal services with a firm in which a Board member is a partner for the year ended December 31, 2012. Form 990, Part VI, Line 19 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 VI, Line 15b Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees There are no RCEDC officers who receive compensation and the 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 15a 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 12c 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 11b 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 III, Line 4d 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. 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.