Twin Cities-Metro Certified Development Company
- Assets
- $7.3m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 15
- Location
- Vadnais Heights, MN
- Founding
- 06/1995
- Data as of
- 09/2023
- EIN
- 41-1672450
Organization Overview
Twin Cities-Metro Certified Development Company is located in Vadnais Heights, MN. The organization was established in 1995. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 09/2023, Twin Cities-Metro Certified Development Company employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Twin Cities-Metro Certified Development Company 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 09/2023, Twin Cities-Metro Certified Development Company generated $3.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $3.6m during the year ending 09/2023. While expenses have increased by 4.7% 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.
Since 2017, Twin Cities-Metro Certified Development Company has awarded 35 individual grants totaling $670,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ADMINISTER SBA 504 LOAN PROGRAM WITHIN MINNESOTA AND WESTERN WISCONSIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO STIMULATE PRIVATE SECTOR INVESTMENT BY PROVIDING FUNDING FOR SMALL BUSINESS EXPANSIONS IN MINNESOTA AND WESTERN WISCONSIN THROUGH THE UTILIZATION OF THE SMALL BUSINESS ADMINISTRATION'S 504 LOAN PROGRAM. BUSINESSES ARE ELIGIBLE FOR THE LOANS BASED ON THEIR PURCHASE OF FIXED ASSETS, PRIMARILY REAL ESTATE, FOR THEIR BUSINESS USE. THE ELIGIBLE BUSINESSES SHOULD RETAIN AND CREATE AT LEAST ONE JOB FOR EVERY $90,000 IN SBA GUARANTEED FUNDS OR MEET A PUBLIC POLICY GOAL AS DICTATED BY THE SBA. THE ORGANIZATION HAD 57 LOAN APPROVALS AND 41 LOAN FUNDINGS FOR APPROXIMATELY $38.6 MILLION DURING FISCAL YEAR 2023. IT IS ANTICIPATED THAT WITHIN TWO YEARS OF FUNDING, 479 JOBS WILL BE CREATED AND/OR RETAINED AS A RESULT OF THESE LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pete Ingebrand President | Officer | 45 | $330,282 |
Dennis Welch Board Member/chair | OfficerTrustee | 2.5 | $6,290 |
Jim Louwagie Board Member/vice Chair | OfficerTrustee | 2.5 | $4,965 |
Kevin Maas Board Member/treasurer | OfficerTrustee | 2.5 | $4,545 |
David Wasmuth Board Member | Trustee | 2.5 | $5,260 |
Royce Nelligan Board Member | Trustee | 2.5 | $3,830 |
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 | $3,232,559 |
| Investment income | $80,937 |
| 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 | $3,331,044 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100,000 |
| 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. | $674,571 |
| Compensation of current officers, directors, key employees. | $391,321 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,732,916 |
| Pension plan accruals and contributions | $49,222 |
| Other employee benefits | $249,684 |
| Payroll taxes | $148,445 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,897 |
| Fees for services: Accounting | $19,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $91,646 |
| Advertising and promotion | $18,436 |
| Office expenses | $118,905 |
| Information technology | $29,280 |
| Royalties | $0 |
| Occupancy | $102,866 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $87,496 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,875 |
| Insurance | $30,241 |
| All other expenses | $0 |
| Total functional expenses | $3,585,188 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,592 |
| Savings and temporary cash investments | $4,739,313 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,078,022 |
| 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 | $25,065 |
| Net Land, buildings, and equipment | $1,177,656 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $270,259 |
| Total assets | $7,320,907 |
| Accounts payable and accrued expenses | $1,128,617 |
| 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 | $1,871,365 |
| Total liabilities | $2,999,982 |
| Net assets without donor restrictions | $4,320,925 |
| 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 | $7,320,907 |
Grants Awarded
Over the last fiscal year, Twin Cities-Metro Certified Development Company has awarded $100,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
METROPOLITAN CONSORTIUM OF COMMUNITY DEVELOPERS PURPOSE: GENERAL OPERATING GRANT | $25,000 |
METROPOLITAN ECONOMIC DEVELOPMENT ASSOCIATION PURPOSE: GENERAL OPERATING GRANT | $25,000 |
WOMEN VENTURE PURPOSE: GENERAL OPERATING GRANT | $15,000 |
ST CROIX ECONOMIC DEVELOPMENT CORPORATION PURPOSE: GENERAL OPERATING GRANT | $10,000 |
NEIGHBORHOOD DEVELOPMENT CENTER PURPOSE: GENERAL OPERATING GRANT | $25,000 |