First American Capital Corporation Inc
- Assets
- $10.6m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 7
- Location
- Hales Corners, WI
- Founding
- 03/2005
- Data as of
- 12/2023
- EIN
- 37-1439848
Organization Overview
First American Capital Corporation Inc is located in Hales Corners, WI. The organization was established in 2005. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, First American Capital Corporation Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First American Capital Corporation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, First American Capital Corporation Inc generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 17.3% each year . All expenses for the organization totaled $2.2m during the year ending 12/2023. While expenses have increased by 21.1% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, First American Capital Corporation Inc has awarded 36 individual grants totaling $1,762,374. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF FACC IS TO CONTRIBUTE TO ECONOMIC DEVELOPMENT IN WISCONSIN INDIAN COUNTRY THROUGH FACILITATING ACCESS TO CAPITAL IN THE FORM OF BUSINESS LOANS FOR AMERICAN INDIAN OWNED ENTERPRISES AND THROUGH PROVIDING PRE- AND POST-LOAN TECHNICAL ASSISTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES: FACC MISSION-DRIVEN OUTCOMES INCLUDED DEPLOYING MICRO-BUSINESS LOANS RESULTING IN NEW FAMILY SUPPORTING FULL TIME JOBS BEING CREATED AND CONTRIBUTING TO THE RETENTION OF EXISTING JOBS IN WISCONSIN. IN ADDITION, CLIENTS RECEIVED FACC ONE-TO-ONE BUSINESS MANAGEMENT CAPACITY BUILDING TECHNICAL ASSISTANCE AND BUSINESS MANAGEMENT WORKSHOPS DELIVERED VIRTUALLY - AND IN PERSON - DESIGNED TO INCREASE THE COMPETITIVENESS OF FACC CLIENTS AND ASSIST IN THEIR EVENTUAL GRADUATION FROM THE FACC PORTFOLIO WHEN MEETING THE CREDIT STANDARDS OF COMMERCIAL BANKS. IN 2023 FACC AWARDED DIVERSE BUSINESS INVESTMENT EQUITY GRANTS TO QUALIFYING SMALL BUSINESSES DISPROPORTIONATELY IMPACTED BY THE PANDEMIC TO HELP FURTHER RECOVERY AND TO BUILD RESILIENCE AGAINST THE NEXT ECONOMICALLY DISRUPTIVE EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Bowman President | OfficerTrustee | 1 | $0 |
Craig Clements Vice President | OfficerTrustee | 1 | $0 |
David Willeford Treasurer | OfficerTrustee | 1 | $0 |
Art Olszewski Secretary | OfficerTrustee | 1 | $0 |
Terry Williamson Director | Trustee | 1 | $0 |
Salli Martyniak Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,425,467 |
| All other contributions, gifts, grants, and similar amounts not included above | $140,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,565,467 |
| Total Program Service Revenue | $336,683 |
| Investment income | $232,505 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,163,251 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,020,476 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $286,799 |
| Compensation of current officers, directors, key employees. | $58,334 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $343,218 |
| Pension plan accruals and contributions | $8,238 |
| Other employee benefits | $60,367 |
| Payroll taxes | $47,120 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,208 |
| Fees for services: Accounting | $17,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,731 |
| Advertising and promotion | $40,302 |
| Office expenses | $28,932 |
| Information technology | $92,776 |
| Royalties | $0 |
| Occupancy | $19,692 |
| Travel | $29,738 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,815 |
| Interest | $49,501 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,131 |
| Insurance | $7,712 |
| All other expenses | $0 |
| Total functional expenses | $2,212,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,480,338 |
| Savings and temporary cash investments | $3,721,436 |
| Pledges and grants receivable | $87,387 |
| Accounts receivable, net | $202,870 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,421,436 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,379 |
| Net Land, buildings, and equipment | $259,639 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $28,360 |
| Intangible assets | $40,457 |
| Other assets | $393,125 |
| Total assets | $10,647,427 |
| Accounts payable and accrued expenses | $39,866 |
| Grants payable | $0 |
| Deferred revenue | $1,544,228 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,117,985 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,702,079 |
| Net assets without donor restrictions | $5,379,337 |
| Net assets with donor restrictions | $566,011 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,647,427 |
Grants Awarded
Over the last fiscal year, First American Capital Corporation Inc has awarded $1,020,476 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
PETROLEUM HEAT & POWER INC PURPOSE: PANDEMIC RECOVERY/RESILIENCE | $125,000 |
GREEN LEAF FARMS OF CHETEK LLC PURPOSE: PANDEMIC RECOVERY/RESILIENCE | $125,000 |
MELTZ INDUSTRIES LLC PURPOSE: PANDEMIC RECOVERY/RESILIENCE | $125,000 |
DIAMOND HVAC LLC PURPOSE: PANDEMIC RECOVERY/RESILIENCE | $125,000 |
DAN BROWN TRUCKING LLC PURPOSE: PANDEMIC RECOVERY/RESILIENCE | $125,000 |
ARROWHEAD TRUCKING LLC PURPOSE: PANDEMIC RECOVERY/RESILIENCE | $69,554 |