Mcdevco Inc
- Assets
- $4.5m
- Revenue
- $751.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Wausau, WI
- Founding
- 10/1978
- Data as of
- 08/2021
- EIN
- 39-1306894
Organization Overview
Mcdevco Inc is located in Wausau, WI. The organization was established in 1978. 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 08/2021, Mcdevco Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcdevco 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 08/2021, Mcdevco Inc generated $751.3k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $594.4k during the year ending 08/2021. While expenses have increased by 6.5% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO INVEST IN BUSINESS DEVELOPMENT AND COMMUNITY GROWTH THROUGH THE INTEGRATION OF RESOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COSTS TO ADMINISTER ECONOMIC DEVELOPMENT LOANS, INCLUDING INTEREST EXPENSE, LEGAL FEES, PROVISION FOR LOAN LOSSES, AND OTHER ADMINISTRATIVE FEES. REVOLVING LOAN FUND IS AN ACCESSIBLE SOURCE OF FINANCING FOR PROJECTS THAT WILL CREATE AND RETAIN PRIVATE SECTOR JOBS, INCREASE INCOMES, EXPAND LOCAL TAX BASE AND LEVERAGE BANK FINANCING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vicki Resech Executive Director | Officer | 40 | $75,333 |
Todd Nagel President | OfficerTrustee | 1 | $0 |
Jeff Voigt Past President | OfficerTrustee | 1 | $0 |
Scott Pagenkopf 2nd Vice President | OfficerTrustee | 1 | $0 |
Fred Schaefer 1st Vice President | OfficerTrustee | 1 | $0 |
Mary Ellen Schill Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $21,419 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $490,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $55,437 |
| Noncash contributions included in lines 1a–1f | $41,184 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $567,256 |
| Total Program Service Revenue | $162,879 |
| Investment income | $21,176 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $11 |
| 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 | $751,322 |
| 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. | $89,675 |
| Compensation of current officers, directors, key employees. | $22,418 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $80,002 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,240 |
| Payroll taxes | $10,962 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $300 |
| Fees for services: Accounting | $15,619 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,412 |
| Office expenses | $8,264 |
| Information technology | $6,903 |
| Royalties | $0 |
| Occupancy | $20,944 |
| Travel | $300 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,976 |
| Interest | $49,587 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,097 |
| Insurance | $3,429 |
| All other expenses | $343 |
| Total functional expenses | $594,365 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,865,558 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,758 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $902,813 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $541,446 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,223,775 |
| Total assets | $4,549,350 |
| Accounts payable and accrued expenses | $14,186 |
| Grants payable | $0 |
| Deferred revenue | $45,573 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $1,372,812 |
| Other liabilities | $2,084,976 |
| Total liabilities | $3,517,547 |
| Net assets without donor restrictions | $879,107 |
| Net assets with donor restrictions | $152,696 |
| 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 | $4,549,350 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Mcdevco Inc has recieved totaling $70,000.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of North Central Wisconsin Inc Wausau, WI PURPOSE: MARATHON COUNTY COVID -19 SMALL BUSINESS GRANTS - $1000.00 EACH | $10,000 |
Community Foundation Of North Central Wisconsin Inc Wausau, WI PURPOSE: WOMEN'S SMALL BUSINESS GRANT - MARATHON COUNTY | $10,000 |
Incrediblebank Foundation Inc Wausau, WI PURPOSE: COVID-19 FUND | $10,000 |
Incrediblebank Foundation Inc Wausau, WI PURPOSE: COVID-19 FUND | $10,000 |
Incrediblebank Foundation Inc Wausau, WI PURPOSE: COVID-19 FUND | $10,000 |
Community Foundation Of North Central Wisconsin Inc Wausau, WI PURPOSE: MARATHON COUNTY COVID -19 SMALL BUSINESS GRANTS - $1000.00 EACH | $10,000 |
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 |