Wisconsin Economic Development Association Inc
- Assets
- $176.2k
- Revenue
- $364.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Madison, WI
- Founding
- 03/1976
- Data as of
- 12/2021
- EIN
- 51-0180680
Organization Overview
Wisconsin Economic Development Association Inc is located in Madison, WI. The organization was established in 1976. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Wisconsin Economic Development Association Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wisconsin Economic Development Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Wisconsin Economic Development Association Inc generated $364.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $360.1k during the year ending 12/2021. While expenses have increased by 1.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING SERVICES TO MEMBERS TO ADVANCE COMMUNITY DEVELOPMENT AND ECONOMIC ADVANCEMENT IN WISCONSIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NETWORKING - WISCONSIN ECONOMIC DEVELOPMENT ASSOCIATION, INC'S (WEDA) BIGGEST EDUCATION AND NETWORKING EVENT OF THE YEAR IS ITS GOVERNOR'S CONFERENCE ON ECONOMIC DEVELOPMENT HELD EVERY FEBRUARY. IT IS A THREE-DAY CONFERENCE INCLUDING EDUCATIONAL SESSIONS, EXHIBITS, RECEPTIONS, AND OTHER NETWORKING OPPORTUNITIES. WEDA ALSO HOSTS COMMUNITY REINVESTMENT ACT SESSIONS AT VARIOUS LOCATIONS AROUND THE STATE TWICE EACH YEAR AS WELL AS A FALL CONFERENCE.
PROFESSIONAL DEVELOPMENT - WEDA, IN PARTNERSHIP WITH WISCONSIN ECONOMIC DEVELOPMENT CORPORATION (WEDC), HOSTS A SERIES OF EDUCATIONAL EVENTS. THE GOALS OF THESE OFFERINGS COMPLEMENT AND SUPPORT WEDC'S GOALS FOR FOSTERING A "BEST-IN-CLASS" ENVIRONMENT FOR ECONOMIC DEVELOPMENT PRACTITIONERS AND BUSINESS IN THE STATE OF WISCONSIN.WEDA ALSO CONDUCTS THE WISCONSIN BASIC ECONOMIC DEVELOPMENT COURSE, WHICH IS DESIGNED TO PROVIDE AN UNDERSTANDING OF THE BASIC CONCEPTS, THEORIES, METHODS AND PRACTICE OF ECONOMIC DEVELOPMENT AND WILL BE TAUGHT BY MANY OF WISCONSIN'S TOP ECONOMIC DEVELOPMENT PROFESSIONALS.
PUBLIC AFFAIRS - WEDA ENDORSES AND IS PROACTIVE IN SUPPORTING STUDIES AND CREATING PUBLIC AWARENESS OF ISSUES OF CONCERN TO MEMBERS SUCH AS THE "BE BOLD" WISCONSIN REPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Perry President And CEO | Officer | 40 | $84,923 |
Robert Dennik President Elect | OfficerTrustee | 2 | $0 |
Jason Monnett Treasurer | OfficerTrustee | 2 | $0 |
Brittany Beyer Director | Trustee | 2 | $0 |
Carolyn Engel Director | Trustee | 2 | $0 |
Dave Carlson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $49,090 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $51,590 |
| Total Program Service Revenue | $310,728 |
| Investment income | $22 |
| 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 | $364,540 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| 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. | $87,046 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $92,327 |
| Pension plan accruals and contributions | $1,950 |
| Other employee benefits | $296 |
| Payroll taxes | $13,747 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,684 |
| Fees for services: Lobbying | $1,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,392 |
| Advertising and promotion | $720 |
| Office expenses | $8,059 |
| Information technology | $6,602 |
| Royalties | $0 |
| Occupancy | $17,501 |
| Travel | $5,598 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $65,355 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,947 |
| All other expenses | $0 |
| Total functional expenses | $360,077 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,585 |
| Savings and temporary cash investments | $73,358 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,680 |
| 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 | $5,539 |
| 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 | $176,162 |
| Accounts payable and accrued expenses | $18,282 |
| Grants payable | $0 |
| Deferred revenue | $37,440 |
| 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 | $55,722 |
| Net assets without donor restrictions | $120,440 |
| 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 | $176,162 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wisconsin Economic Development Association Inc has recieved totaling $87,000.
| Awarding Organization | Amount |
|---|---|
Wbd Inc Madison, WI PURPOSE: FUND EDUCATION SCHOLARSHIPS FOR ECONOMIC DEVELOPMENT PROFESSIONALS, FUND POSITIONS TO IMPROVE STATEWIDE ECONOMIC PROGRAMMING, UPGRADE WEBSITE AND COMMISSION A WISCONSIN CHILDCARE AND LITERATURE REVIEW TO IDENTIFY ISSUES AROUND THE SCARCITY OF AFFORDABLE CHILDCARE AND IMPACT ON THE WORKFORCE. | $87,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Invest Detroit Foundation Detroit, MI | $154,389,743 | $12,808,930 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Southern Minnesota Initiative Foundation Owatonna, MN | $74,043,196 | $20,001,758 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Metropolitan Detroit Convention & Vistors Bureau Detroit, MI | $36,765,048 | $14,015,809 |
Detroit Economic Growth Corp Detroit, MI | $7,209,211 | $10,420,774 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |