Door County Economic Development Corporation
- Assets
- $2.7m
- Revenue
- $597.3k
- Investments
- $24.4k
- Employees
- 7
- Location
- Sturgeon Bay, WI
- Founding
- 09/1989
- Data as of
- 12/2023
- EIN
- 39-1621905
Organization Overview
Door County Economic Development Corporation is located in Sturgeon Bay, WI. The organization was established in 1989. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Door 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. Door County Economic Development Corporation 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, Door County Economic Development Corporation generated $597.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $610.8k during the year ending 12/2023. While expenses have increased by 0.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE ECONOMIC VITALITY OF DOOR COUNTY AND ITS RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORKFORCE DEVELOPMENT - BUSINESS ADVANCEMENT AND ADVOCACY - DCEDC PROVIDES PROGRAMS, INITIATIVES, AND SERVICES THAT SUPPORT THE SUCCESS OF ALL BUSINESSES IN DOOR COUNTY, REGARDLESS OF SIZE OR SECTOR. HIGHLIGHTS FROM 2023 INCLUDE: 1) CONNECTED STATE ECONOMIC DEVELOPMENT LEADERS TO BUSINESSES AND ORGANIZATIONS IN DOOR COUNTY, CREATING AN UNDERSTANDING OF SUCCESSES AND CHALLENGES, 2) FACILITATED HIGH SCHOOL JOB FAIR FOR 43 BUSINESSES TO ADDRESS 555 STUDENTS REGARDING JOB AND YOUTH APPRENTICESHIP OPPORTUNITIES, 2) ENGAGED STUDENTS FROM 5 HIGH SCHOOLS IN MANUFACTURING MONTH BY FACILITATING TOURS IN 12 DOOR COUNTY MANUFACTURING FACILITIES, 3) PROMOTED DOOR COUNTY'S NEW CNC MACHINING PROGRAM TO INCREASE AWARENESS AND ATTRACT STUDENT AND BUSINESS INTEREST, 4) PARTNERED WITH EDUCATORS AND ADMINISTRATORS TO ENCOURAGE YOUTH PARTICIPATION IN WORKFORCE PROGRAMS AND BUSINESS PARTICIPATION IN STUDENT ENGAGEMENT, 5) COORDINATED BIENNIAL LEGISLATIVE DAYS EVENT, RESULTING IN 64 STUDENT AND ADULT PARTICIPANTS MEETING WITH 91 LEGISLATIVE OFFICES ON 6 STATE LEVEL ISSUES WITH VITAL IMPACT TO DOOR COUNTY (INCLUDING CHILDCARE, YOUTH APPRENTICESHIP PROGRAMS AND WATER QUALITY INITIATIVES), 6) ASSISTED PROPERTY OWNERS SEEKING TENANTS FOR RETAIL AND COMMERCIAL OPPORTUNITIES AND MATCHING ENTREPRENEURS WITH VACANT SPACES.ENTREPRENEURIAL GROWTH - DCEDC ENCOURAGES THE DEVELOPMENT, GROWTH AND SUSTAINABILITY OF ENTREPRENEURIAL ENDEAVORS IN DOOR COUNTY THROUGH THE CREATION OF A ROBUST ENTREPRENEURIAL ECOSYSTEM. HIGHLIGHTS FROM 2023 INCLUDE: 1) COORDINATED ENTREPRENEURIAL TRAINING PROGRAM WITH UW-GB SMALL BUSINESS DEVELOPMENT CENTER, GRADUATING 10 PARTICIPANTS, 2) PROVIDED INDIVIDUAL ASSISTANCE TO MORE THAN 50 ENTREPRENEURS, INCLUDING SITE-SELECTION, FINANCING, BUSINESS PLAN CONSULTATION AND ASSISTANCE WITH REGULATORY AGENCIES, 3) GUIDED FIVE ENTREPRENEURS TOWARD DEVELOPING BUSINESS PITCHES FOR LIGHTHOUSE LAUNCH CONTEST, 4) ADMINISTERED MORE THAN $500,000 IN FINANCIAL ASSISTANCE TO NEW AND EXPANDING BUSINESSES.COMMUNICATIONS AND ENGAGEMENT - DCEDC PROVIDES EFFECTIVE COMMUNICATIONS TO PARTNERS IN DOOR COUNTY AND ENGAGES THEM IN ALL PROGRAMS AND MESSAGING TO EXTERNAL AUDIENCES TO ATTAIN SUCCESS COLLABORATIVELY. HIGHLIGHTS FROM 2023 INCLUDE: 1) FACILITATED MORE THAN 50 EARNED MEDIA OPPORTUNITIES FOR DCEDC AND DOOR COUNTY BUSINESSES, INCLUDING BROADCASTS, ARTICLES AND PODCASTS WITH DOOR COUNTY AND NORTHEAST WISCONSIN NEWS OUTLETS, 2) CREATED OPPORTUNITY FOR YOUTH APPRENTICE IN MARKETING AND COMMUNICATIONS AT DCEDC TO PROMOTE DOOR COUNTY BUSINESS OPPORTUNITIES AND YOUTH ENGAGEMENT, 3) CREATED ORIGINAL VIDEO SERIES PROMOTING EXISTING AND NEW BUSINESSES AND EXPANSION PROJECTS, 4) INCREASED AWARENESS OF DOOR COUNTY BUSINESS SUCCESSES AND THE ADVANTAGES OF DOING BUSINESS IN DOOR COUNTY THOUGH DIGITAL AND SOCIAL MEDIA BY 40% OVER PREVIOUS REACH.SUSTAINABLE LIVING - DCEDC FOCUSES ON FACTORS EFFECTING THE LIVABILITY OF DOOR COUNTY FOR ALL SOCIOECONOMIC GROUPS AND / OR WHICH ARE IMPACTING BUSINESS GROWTH AND PROSPERITY. HIGHLIGHTS FROM 2023 INCLUDE: 1) PROMOTED DOOR COUNTY TO RESIDENTIAL AND COMMERCIAL DEVELOPERS THROUGH DIGITAL AND PRINT MARKETING, AND EARNED MEDIA, 2) COORDINATED DEVELOPER TOUR, WHICH HOSTED 16 LOCAL AND NATIONAL DEVELOPERS TO PROMOTE DEVELOPMENT SITES IN STURGEON BAY, 3) PARTNERED WITH MUNICIPAL LEADERS TO ENCOURAGE OPPORTUNITIES FOR HOUSING AND COMMERCIAL DEVELOPMENT OPPORTUNITIES, 4) SUPPORTED EFFORTS TO EXPAND BROADBAND ACCESSIBILITY TO ALL THROUGHOUT DOOR COUNTY.
BUSINESS ATTRACTION, RETENTION AND EXPANSION - DCEDC WORKS TO RETAIN CURRENT BUSINESSES ACROSS ALL INDUSTRIES IN DOOR COUNTY AND ASSISTS THEM TOWARD EXPANSION OPPORTUNITIES. THESE SERVICES INCLUDE EDUCATION AND FACILITATION REGARDING EXPORT OPPORTUNITIES, PROVIDING LABOR DATA AND PROJECTIONS TOWARD MAKING BUSINESS DECISIONS AND PROVIDING SITE SELECTION SERVICES FOR EXPANSION OPPORTUNITIES. DCEDC ALSO WORKS WITH DOOR COUNTY COMMUNITIES AND PROPERTY OWNERS TO ATTRACT NEW BUSINESSES TO LOCATIONS THROUGHOUT DOOR COUNTY, INCLUDING SPACES INTENDED FOR RETAIL, COMMERCIAL AND INDUSTRIAL USERS. DCEDC MARKETS AVAILABLE SITES, WORKS WITH THE CITY OF STURGEON BAY TO PROMOTE LOCATION OPPORTUNITIES IN THE CITY'S INDUSTRIAL PARK, AND PROMOTES THE AREA FOR NEW BUSINESS LOCATIONS THROUGHOUT THE COUNTY.
ENTREPRENEURIAL AND SMALL BUSINESS SERVICES - DOOR COUNTY, AND THE MIDWEST IN GENERAL, IS A HOTSPOT FOR ENTREPRENEURIAL ACTIVITY. DCEDC PROVIDES SERVICES FOR ENTREPRENEURS INCLUDING BUSINESS PLAN DEVELOPMENT, FINANCING THROUGH REVOLVING LOAN FUNDS, AND LOCATION SELECTION ADVICE. DCEDC ALSO PROVIDES OPPORTUNITIES FOR LOCAL ENTREPRENEURS AND SMALL BUSINESSES TO MEET AND LEARN FROM THE SUCCESSES OF OTHERS. THROUGH ITS MARKETING AND COMMUNICATIONS PROGRAMS, DCEDC PROMOTES DOOR COUNTY ENTREPRENEURS AND SMALL BUSINESS OWNERS AND THEIR SUCCESSES IN DOOR COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Stephens Past Chair | OfficerTrustee | 1 | $0 |
Tim Duquaine Chair | OfficerTrustee | 1 | $0 |
Ryan Hoernke Vice Chair And Treasurer | OfficerTrustee | 1 | $0 |
Dale Wiegand Director | Trustee | 1 | $0 |
Dan Tjernagel Director | Trustee | 1 | $0 |
David Ward Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $27,048 |
| Related organizations | $0 |
| Government grants | $56,628 |
| All other contributions, gifts, grants, and similar amounts not included above | $305,390 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $389,066 |
| Total Program Service Revenue | $217,666 |
| Investment income | $11,816 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,445 |
| Net Income from Fundraising Events | -$24,580 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $597,296 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $49,103 |
| 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. | $112,670 |
| Compensation of current officers, directors, key employees. | $11,267 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $133,319 |
| Pension plan accruals and contributions | $4,200 |
| Other employee benefits | $9,924 |
| Payroll taxes | $17,783 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,853 |
| Fees for services: Accounting | $51,948 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,478 |
| Advertising and promotion | $1,078 |
| Office expenses | $7,420 |
| Information technology | $7,923 |
| Royalties | $0 |
| Occupancy | $70,995 |
| Travel | $4,282 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,365 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,712 |
| Insurance | $8,838 |
| All other expenses | $2,606 |
| Total functional expenses | $610,770 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,903 |
| Savings and temporary cash investments | $1,095,935 |
| Pledges and grants receivable | $193,508 |
| Accounts receivable, net | $10,978 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,394 |
| Net Land, buildings, and equipment | $786,605 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $24,389 |
| Investments—program-related | $574,312 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,718,024 |
| Accounts payable and accrued expenses | $52,894 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $13,341 |
| 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 | $66,235 |
| Net assets without donor restrictions | $1,234,613 |
| Net assets with donor restrictions | $1,417,176 |
| 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 | $2,718,024 |
Grants Awarded
Over the last fiscal year, Door County Economic Development Corporation has awarded $49,103 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CADENCE INC PURPOSE: FOCUS ON BUSINESS GROWTH THROUGH INTERNATIONAL EXPORTING | $15,000 |
THERMA-TRON-X PURPOSE: FOCUS ON BUSINESS GROWTH THROUGH INTERNATIONAL EXPORTING | $15,000 |
SCHOOL DISTRICT OF SEVASTOPOL PURPOSE: SUPPORT FOR INAUGURAL CNC PROGRAM FROM NWTC | $7,475 |
MARINE TRAVELIFT INC PURPOSE: FOCUS ON BUSINESS GROWTH THROUGH INTERNATIONAL EXPORTING | $11,628 |