Sheboygan County Economic Development Corporation
- Assets
- $8.8m
- Revenue
- $8.6m
- Investments
- $0.0
- Employees
- 7
- Location
- Sheboygan, WI
- Founding
- 10/1985
- Data as of
- 12/2022
- EIN
- 39-1487364
Organization Overview
Sheboygan County Economic Development Corporation is located in Sheboygan, WI. The organization was established in 1985. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Sheboygan County Economic Development Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sheboygan County Economic Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Sheboygan County Economic Development Corporation generated $8.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 50.6% each year . All expenses for the organization totaled $750.7k during the year ending 12/2022. While expenses have increased by 6.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT EFFORTS FOR THE BUSINESSES, RESIDENTS, AND COMMUNITIES OF SHEBOYGAN COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SMALL BUSINESS FORMATION: THE SCEDC PROVIDES SERVICES AND TECHNICAL ASSISTANCE TO SUPPORT ENTREPRENUERS AND INNOVATORS. THE SCEDC HAS CONTRACTED STAFF DEDICATED TO THE ROLE AND IT ALSO INVOLVES SEVERAL KEY PROGRAMS INCLUDING ACCELERATE SHEBOYGAN COUNTY.
THERE ARE THREE OTHER PROGRAMS.ANNUAL MEETING: THE MEETING IS OUR PRIMARY EDUCATION EVENT FOR THE COMMUNITY. AT THE EVENT WE DREW IN LEADERS FROM AROUND THE COUNTY TO GET THEM ACTIVELY THINKING ABOUT AND ENGAGED IN ECONOMIC DEVELOPMENT THROUGHOUT THE COMMUNITY.AFFORDABLE HOUSING: THE SCEDC FOCUSES ON EXPANDING AFFORDABLE HOUSING.TALENT RECRUITMENT: UPDATES TO SHEBOYGAN CO. WEB SITE SOMEPLACE BETTER BASED ON THE INPUT FROM HR VOLUNTEERS. BEGIN FORMING A HOUSING STRATEGY TO ADDRESS THE NEEDS OF THE MARKETPLACE.
BUSINESS EXPANSION: THE SCEDC WAS CONTACTED BY A DOZEN BUSINESSES CONSIDERING THE POSSIBILITY OF LOCATING OPERATIONS IN SHEBOYGAN COUNTY. ALTHOUGH LITTLE DIRECT COSTS CAN BE IDENTIFIED, ABOUT A THIRD OF STAFF TIME WAS FOCUSED ON PERSUADING THESE COMPANIES TO INVEST IN SHEBOYGAN COUNTY.
BUSINESS RETENTION: THE SCEDC MET WITH OVER 50 AREA BUSINESSES TO DISCUSS CHALLENGES AND OPPORTUNITIES. ALTHOUGH LITTLE DIRECT COSTS CAN BE IDENTIFIED, ABOUT A THIRD OF STAFF TIME WAS DEVOTED TO THIS EFFORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jodi Schoerner Treasurer/secretary | OfficerTrustee | 2 | $0 |
Gary Dulmes Vice President | OfficerTrustee | 4 | $0 |
Don Hammond President | OfficerTrustee | 8 | $0 |
Mike Klein Board Member | Trustee | 0.15 | $0 |
Teresa Van Horn Board Member | Trustee | 0.15 | $0 |
Steve Harrison Board Member | Trustee | 0.15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $278,988 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $223,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,005,900 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,507,888 |
| Total Program Service Revenue | $97,745 |
| Investment income | $1,393 |
| 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 | $8,614,396 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $15,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $126,744 |
| Compensation of current officers, directors, key employees. | $25,349 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $188,665 |
| Pension plan accruals and contributions | $7,166 |
| Other employee benefits | $32,684 |
| Payroll taxes | $22,616 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,894 |
| Fees for services: Accounting | $16,155 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $118,555 |
| Office expenses | $10,886 |
| Information technology | $28,107 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $12,299 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,257 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,809 |
| Insurance | $2,571 |
| All other expenses | $7,596 |
| Total functional expenses | $750,739 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $109,072 |
| Savings and temporary cash investments | $3,990,423 |
| Pledges and grants receivable | $3,000,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $225,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,853 |
| Net Land, buildings, and equipment | $1,492,161 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,820,509 |
| Accounts payable and accrued expenses | $83,795 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $83,795 |
| Net assets without donor restrictions | $736,714 |
| Net assets with donor restrictions | $8,000,000 |
| 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 | $8,820,509 |