First American Capital Corporation Inc
- Assets
- $6.5m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 6
- Location
- Hales Corners, WI
- Founding
- 03/2005
- Data as of
- 12/2021
- 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 12/2021, First American Capital Corporation Inc employed 6 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 12/2021, First American Capital Corporation Inc generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.3% each year . All expenses for the organization totaled $877.0k during the year ending 12/2021. While expenses have increased by 12.1% per year over the past 7 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 17 individual grants totaling $242,898. 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
2021
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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Mejchar Co-Executive Director | Officer | 40 | $95,650 |
William Beson Co-Executive Director | Officer | 40 | $95,265 |
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 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $761,594 |
| All other contributions, gifts, grants, and similar amounts not included above | $752,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,514,094 |
| Total Program Service Revenue | $288,821 |
| Investment income | $186,373 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,800 |
| 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 | $2,033,588 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $243,468 |
| Compensation of current officers, directors, key employees. | $48,187 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $194,344 |
| Pension plan accruals and contributions | $3,146 |
| Other employee benefits | $26,220 |
| Payroll taxes | $30,382 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $505 |
| Fees for services: Accounting | $18,314 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $119,121 |
| Advertising and promotion | $635 |
| Office expenses | $42,161 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,338 |
| Travel | $10,858 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,701 |
| Interest | $41,886 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,458 |
| Insurance | $4,212 |
| All other expenses | $2,405 |
| Total functional expenses | $877,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,675,707 |
| Savings and temporary cash investments | $1,280,456 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $174,888 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,865,771 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,146 |
| Net Land, buildings, and equipment | $273,255 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $37,800 |
| Intangible assets | $2,614 |
| Other assets | $184,910 |
| Total assets | $6,502,547 |
| Accounts payable and accrued expenses | $30,486 |
| Grants payable | $0 |
| Deferred revenue | $406,963 |
| 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 | $1,803,014 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,240,463 |
| Net assets without donor restrictions | $3,325,073 |
| Net assets with donor restrictions | $937,011 |
| 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 | $6,502,547 |
Grants Awarded
Over the last fiscal year, First American Capital Corporation Inc has awarded $242,898 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
Lac Du Flambeau, WI PURPOSE: WEDC SB20/20 - COVID STIMULUS | $56,857 |
Keshena, WI PURPOSE: WEDC SB20/20 - COVID STIMULUS | $30,361 |
ANGRY TACO LLC PURPOSE: WEDC SB20/20 - COVID STIMULUS | $15,825 |
BOIVIN EXCAVATING LLC PURPOSE: WEDC SB20/20 - COVID STIMULUS | $15,825 |
ABOUT TIME MOVING SYSTEMS LLC PURPOSE: WEDC SB20/20 - COVID STIMULUS | $15,825 |
MOFOCO ENTERPRISES INC PURPOSE: WEDC SB20/20 - COVID STIMULUS | $15,825 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that First American Capital Corporation Inc has recieved totaling $90,000.
| Awarding Organization | Amount |
|---|---|
First Nations Oweesta Corporation Longmont, CO PURPOSE: GRANT | $90,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Invest Detroit Foundation Detroit, MI | $154,389,743 | $12,808,930 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Southern Minnesota Initiative Foundation Owatonna, MN | $74,043,196 | $20,001,758 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Metropolitan Detroit Convention & Vistors Bureau Detroit, MI | $36,765,048 | $14,015,809 |
Detroit Economic Growth Corp Detroit, MI | $7,209,211 | $10,420,774 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |