Waupaca County Economic Development Corp
- Assets
- $579.1k
- Revenue
- $230.5k
- Investments
- $0.0
- Employees
- 2
- Location
- New London, WI
- Founding
- 12/1995
- Data as of
- 12/2021
- EIN
- 39-1807972
Organization Overview
Waupaca County Economic Development Corp is located in New London, WI. The organization was established in 1995. 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 12/2021, Waupaca County Economic Development Corp employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waupaca County Economic Development Corp 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 12/2021, Waupaca County Economic Development Corp generated $230.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $147.5k during the year ending 12/2021. 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
THE WCEDC PARTNERS WITH LOCAL MUNICIPALITIES, THE STATE OF WISCONSIN, AND INDIVIDUAL BUSINESSES TO INCREASE/RETAIN JOBS, GENERATE NEW INVESTMENT, ATTRACT VISITORS AND TOURISTS, AND DEVELOP/SUSTAIN A HEALTHY ECONOMY FOR WAUPACA COUNTY, WI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REVOLVING LOAN FUND PROGRAM - THIS PROGRAM PROVIDES BELOW MARKET INTEREST RATE LOANS TO HELP BUSINESSES START-UP AND/OR EXPAND. THIS YEAR, 2021, THERE WERE NO BUSINESSES THAT SUBMITTED APPLICATIONS TO THE WCEDC. IN ADDITION, THE WCEDC SUSPENDED REPAYMENTS FOR ALL EXISTING LOAN RECIPIENTS STARTING IN APRIL OF 2020. THOSE PAYMENTS DID NOT RESUME UNTIL JUNE OF 2021. OVER 2/3 OF THE EXISTING LOAN RECIPIENTS CHOSE TO CONTINUE MAKING LOAN REPAYMENTS STARTING IN MAY OF 2020. THOSE PAYMENTS ACCOUNTED FOR THE REVENUE RECEIVED IN 2021. THE EXPENSES WERE PAID TO THE WCEDC FOR THE HOURS SPENT MANAGING THE REVOLVING LOAN FUND PROGRAM.
MARKETING COOPERATIVE PROGRAM - THIS PROGRAM INVOLVES HIRING A MARKETING FIRM TO PROMOTE BUSINESSES, AND COMMUNITIES WITH VIDEOS ON FACEBOOK AND YOUTUBE. THE VIDEOS ARE ALL OWNED BY THE MARKETING COOPERATIVE. THE BUSINESSES AND COMMUNITIES PAY A YEARLY FEE AND CHOOSE FROM ONE OF THREE MARKETS TO ADVERTISE THEIR VIDEOS IN. THE MARKETING FIRM FIGURES OUT THE ALGORITHMS USED BY THE SOCIAL MEDIA COMPANIES TO GARNER THE MOST IMPRESSIONS AND VIEWS FOR ALL OF THE VIDEOS. WE REPORT OUT TO EVERY BUSINESS AND COMMUNITY THEIR IMPRESSIONS AND VIEWS TOTALS, AS WELL AS THE TOTAL IMPRESSIONS AND VIEWS GARNERED BY THE ENTIRE MARKETING COOPERATIVE. IN 2021, WE INVESTED IN ADDITIONAL LIFESTYLE RESEARCH TO HELP COMMUNITIES WITH RESIDENT ATTRACTION AND RECRUITMENT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Thiel Executive Director | Officer | 40 | $44,496 |
Jeffrey Mikorski Executive Director | Officer | 40 | $35,843 |
Terri Schulz Treasurer | Officer | 0 | $0 |
Richard Wagner Secretary | Officer | 0 | $0 |
Sharon Eveland President | Officer | 0 | $0 |
Aaron Jenson Vice President | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $74,555 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $74,555 |
| Total Program Service Revenue | $146,204 |
| Investment income | $9,500 |
| 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 | $230,467 |
| 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. | $80,339 |
| Compensation of current officers, directors, key employees. | $80,339 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,765 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $46,062 |
| Office expenses | $1,216 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,900 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $467 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,152 |
| All other expenses | $0 |
| Total functional expenses | $147,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $169,246 |
| Savings and temporary cash investments | $21,882 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $388,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $579,128 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $579,128 |
| Total liabilities and net assets/fund balances | $579,128 |
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