Milwaukee Urban Strategic Investment Corp
- Assets
- $22.0m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 05/1997
- Data as of
- 12/2023
- EIN
- 39-1864684
Organization Overview
Milwaukee Urban Strategic Investment Corp is located in Milwaukee, WI. The organization was established in 1997. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milwaukee Urban Strategic Investment Corp 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, Milwaukee Urban Strategic Investment Corp generated $4.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $3.3m during the year ending 12/2023. While expenses have increased by 2.4% per year over the past 9 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
SEE SUMMARY OF THE ORGANIZATION'S MISSION AT PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSES OF THIS ORGANIZATION ARE TO COMBAT URBAN DETERIORATION, POVERTY, LOW EDUCATIONAL ACHIEVEMENT, JUVENILE DELINQUENCY, CRIMINALITY AND LOSS OF POPULATION (BOTH INDIVIDUALS AND BUSINESSES) IN THE GREATER MILWAUKEE, WISCONSIN AREA. ONE OF ITS ACTIVITIES IS THE CONSTRUCTION, MAINTENANCE AND MANAGEMENT OF THE LIBRARY HILL HOUSING PROJECT IN THE DOWNTOWN AREA OF MILWAUKEE KNOWN AS "WESTOWN," THE STABILITY, SAFETY AND RESIDENTIAL AND COMMERCIAL DESIRABILITY OF WHICH ARE AFFECTED BY URBAN CONDITIONS THROUGHOUT THE GREATER MILWAUKEE COMMUNITY. ANOTHER ACTIVITY WAS THE ACQUISITION, MAINTENANCE AND MANAGEMENT OF THE 2835 KILBOURN HOUSING PROJECT LOCATED IN MILWAUKEE, WISCONSIN WHICH WAS SOLD IN FEBRUARY 2023.
TO MAKE STRATEGIC INVESTMENTS THAT PROMOTE THE STABILITY, SAFETY AND RESIDENTIAL AND COMMERCIAL DESIRABILITY OF THE NEIGHBORHOODS WHICH ARE AFFECTED BY URBAN CONDITIONS THROUGHOUT THE GREATER MILWAUKEE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Krejci Co-Chair | OfficerTrustee | 1 | $0 |
Pat O'brien President | OfficerTrustee | 1 | $0 |
Craig Kammholz Treasurer | OfficerTrustee | 1 | $0 |
Stephen Chernof Co-Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $3,236,634 |
| Investment income | $463,342 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $923,645 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,640,996 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $160,257 |
| Fees for services: Legal | $12,775 |
| Fees for services: Accounting | $45,677 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $23,047 |
| Fees for services: Other | $15,050 |
| Advertising and promotion | $51,188 |
| Office expenses | $17,380 |
| Information technology | $15,416 |
| Royalties | $0 |
| Occupancy | $1,900,154 |
| Travel | $178 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $453,266 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,337,542 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $617,087 |
| Savings and temporary cash investments | $360,988 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | -$36,990 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,704,837 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $72,679 |
| Net Land, buildings, and equipment | $5,891,496 |
| Investments—publicly traded securities | $7,291,634 |
| Investments—other securities | $0 |
| Investments—program-related | $338 |
| Intangible assets | $431,929 |
| Other assets | $665,383 |
| Total assets | $21,999,381 |
| Accounts payable and accrued expenses | $640,053 |
| Grants payable | $0 |
| Deferred revenue | $20,783 |
| 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 | $20,717,005 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $101,159 |
| Total liabilities | $21,479,000 |
| Net assets without donor restrictions | $520,381 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $21,999,381 |
Grants Awarded
Over the last fiscal year, Milwaukee Urban Strategic Investment Corp has awarded $30,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BUBLR BIKES (FKA MIDWEST BIKESHARE INC) PURPOSE: TO SUPPORT THE OVERALL PROJECT. | $20,000 |
MID-WEST ENERGY RESEARCH CONSORTIUM PURPOSE: TO SUPPORT THE CENTURY CITY ENERGY INNOVATION CENTER PROJECT. | $10,000 |