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La Crosse Area Development Corporation

Not tax-deductible

La Crosse, WI501(c)(6)EIN 39-1168327Revenue $297K in FY2024

On file with the IRSladcolax.com601 7th St N, 54601-3362 · La Crosse, WITax-exempt since Sep 1986

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The La Crosse Area Development Corporation (ladco) serves as the initial contact for business and industry in the La Crosse Area. Ladco's mission focuses on a "triad of Development": attraction of business, retention of business and industry, and co-management of the coulee region business center, small business incubator.

$100K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $5K a year · 2% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$100K
to officers and key staff · 29% of spending
Worth a look: pay to officers and key staff is 29% of spending; over 20%.
Pt VII · Sec A
Cash reserves
13 mo
of spending, in cash
Looks good: 12.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $56K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 19 voting members
Looks good: 19 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$297K
+21% vs prior year
Spent
$342K
Net assets
$374K
By yearFY2020–FY2024
Revenue
$297K
FY2024▲ +21%
Tap a bar for its year
Revenue by fiscal year
FY2020$266K
FY2021$294K
FY2022$306K
FY2023$244K
FY2024$297K
Expenses
$342K
FY2024▲ +43%
Tap a bar for its year
Expenses by fiscal year
FY2020$264K
FY2021$267K
FY2022$267K
FY2023$240K
FY2024$342K
Net assets
$374K
FY2024▼ -11%
Tap a bar for its year
Net assets by fiscal year
FY2020$350K
FY2021$377K
FY2022$415K
FY2023$419K
FY2024$374K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1986.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

20 people listed on the 990; $100K paid to officers and key staff.

Part VII, Section A · reportable compensation
Tim Kabat
Executive Director
$100,459Pt VII · Sec A
Mic Michels
Vice President
$0Pt VII · Sec A
Jeff Wrobel
Director
$0Pt VII · Sec A
Joe Zoellner
President
$0Pt VII · Sec A
Bob Burg
Treasurer
$0Pt VII · Sec A
Matt Watson
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Patti Balacek
Secretary
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Tim Kabat$100,459$98,171$87,673$54,279—
Jorge Beltran Until 092020————$73,913

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See La Crosse Area Development Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Attracts, retains, and supports businesses and industry in the La Crosse area.

Questions for La Crosse Area Development Corporation

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Provided by the organization

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1 program · in their own filed words · FY2024
01

The purpose of the corporation shall be to actively facilitate and promote economic development and business retention in the la crosse area. This shall be accomplished by focusing on the "triad of development": the attraction of industry, the retention of business and industry, and the development of the area workforce.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Orc Sheltered Friends FoundationFY2024$50K
Gundersen Lutheran Administrative Services INCFY2024$6K
Total grants receivedfrom 2 funders$56K
Grants paid · 4 grants · $52K · 2020–2022
City of La CrosseFY2022$8,152
City of La CrosseFY2021$19,975
City of La CrosseFY2020$19,197
City of La CrosseFY2020$5,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$297K
Ln 12
Gifts and grantsLn 1h$174K
Fees for servicesLn 2g$110K
Other incomeLn 4–11$10K
Money outPt IX
$342K
Ln 25
Owns and owesPt X
$374K
net assets · Ln 32
Cash and savingsLn 1–2$363K
Total assetsLn 16$378K
LiabilitiesLn 26$4K
PeoplePt VI, VII
20
listed · VII A
PaidVII A1
Voting boardVI 1a19
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$174K
Government grantsLn 1e$50K
Fees for servicesLn 2g$110K
Investment incomeLn 3$3K
Other incomeLn 4–11$10K
Total revenueLn 12$297K
Assets in detailPt X, end of year
CashLn 1$83K
SavingsLn 2$279K
Cash and savings togetherLn 1–2$363K
Land, buildings, equipmentLn 10c$393
Other assetsLn 15$15K
Total assetsLn 16$378K
LiabilitiesLn 26$4K
Net assetsLn 32$374K
OperationsPt I, VI
EmployeesI 54
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$378K$363K
Land, buildings, equipmentLn 10c$991$393
Total assetsLn 16$420K$378K
LiabilitiesLn 26$787$4K
Net assetsLn 32$419K$374K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$124K
Other salaries and wagesLn 7$80K
Pension plan contributionsLn 8$1K
Other employee benefitsLn 9$3K
Payroll taxesLn 10$13K
Accounting feesLn 11c$12K
Office expensesLn 13$6K
Information technologyLn 14$2K
OccupancyLn 16$9K
Conferences, conventions and meetingsLn 19$26K
Depreciation, depletion and amortizationLn 22$2K
InsuranceLn 23$8K
Other expenses (24a–d)Ln 24$55K
Total functional expensesLn 25$342K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $297K$342K−$45K$374K 990 PDF
FY2023 $244K$240K$4K$419K 990 PDF
FY2022 $306K$267K$39K$415K 990 PDF
FY2021 $294K$267K$27K$377K 990 PDF
FY2020 $266K$264K$2K$350K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $296,778 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $150,906$173,638
I-9 Program service revenuePrior year $90,303$109,535
I-10 Investment incomePrior year $2,460$3,457
I-11 Other revenuePrior year $623$10,148
I-12 Total revenuePrior year $244,292$296,778
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $171,453$220,787
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $68,427$121,224
I-18 Total expensesPrior year $239,880$342,011
I-19 Revenue less expensesPrior year $4,412−$45,233
Part VI · Governance 19 of 19 board members independent, no flags
VI-1a Voting members of the governing body19
VI-1b Independent voting members19
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $296,778 across 7 lines filed
VIII-1b Membership dues$123,638
VIII-1e Government grants$50,000
VIII-1h Total contributions, gifts and grants$173,638
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $109,535$109,535
VIII-3 Investment incomeExcluded from tax $3,457$3,457
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $10,148$10,148
VIII-12 Total revenueRelated to mission $119,683 · Unrelated business $0 · Excluded from tax $3,457$296,778
Part IX · Statement of functional expenses $342,011 across 13 lines filed
IX-5 Pay of current officers, directors and key staff$123,839
IX-7 Other salaries and wages$79,751
IX-8 Pension plan contributions$1,213
IX-9 Other employee benefits$2,530
IX-10 Payroll taxes$13,454
IX-11c Accounting fees$12,363
IX-13 Office expenses$5,729
IX-14 Information technology$2,212
IX-16 Occupancy$9,306
IX-19 Conferences, conventions and meetings$26,432
IX-22 Depreciation, depletion and amortization$2,054
IX-23 Insurance$8,074
IX-24 Other expenses (24a–d)$55,054
IX-25 Total functional expenses$342,011
Part X · Balance sheet $378,197 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $101,640$83,442
X-2 Savings and temporary cash investmentsStart of year $275,959$279,416
X-10c Land, buildings and equipment, netStart of year $991$393
X-15 Other assetsStart of year $16,402$14,946
X-16 Total assetsStart of year $419,992$378,197
X-17 Accounts payable and accrued expensesStart of year $787$4,225
X-26 Total liabilitiesStart of year $787$4,225
X-27 Net assets without donor restrictionsStart of year $377,538$332,305
X-28 Net assets with donor restrictionsStart of year $41,667$41,667
X-32 Total net assets or fund balancesStart of year $419,205$373,972
X-33 Total liabilities and net assetsStart of year $419,992$378,197
Part XI · Reconciliation of net assets $373,972 net assets at year end
XI-1 Total revenue$296,778
XI-2 Total expenses$342,011
XI-3 Revenue less expenses−$45,233
XI-4 Net assets at start of year$419,205
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$373,972

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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