Waupaca County Economic Development Corp

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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.

501(c)(4) social-welfare organization; gifts are not tax-deductible as charitable contributions.
96¢ of each $1 spent went to programs.
$91K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
3 of 5
filings with a surplus
Average surplus $288K a year · 29% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$91K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
16 mo
of spending, in cash
Looks good: 16.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2K
0.1% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 19 voting members
Looks good: 14 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
$1.1M
-7% vs prior year
Spent
$1.2M
To programs
96%
Net assets
$1.9M
By yearFY2020–FY2024
Revenue
$1.1M
FY2024▼ -7%
Tap a bar for its year
Revenue by fiscal year
FY2020$215K
FY2021$230K
FY2022$2.2M
FY2023$1.2M
FY2024$1.1M
Expenses
$1.2M
FY2024▼ -26%
Tap a bar for its year
Expenses by fiscal year
FY2020$144K
FY2021$147K
FY2022$335K
FY2023$1.7M
FY2024$1.2M
Net assets
$1.9M
FY2024▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020$581K
FY2021$579K
FY2022$2.4M
FY2023$2.0M
FY2024$1.9M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1995.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $1.2M Management & general 4% · $47K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990; $91K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Dir.
$91,074Pt VII · Sec A
Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Jeffrey Mikorski$91,074$85,680$85,680$35,843—
David Thiel———$44,496$76,278

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 Waupaca County Economic Development Corp 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

Boosts jobs, investment, tourism, and economic health for Waupaca County.

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Provided by the organization

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2 programs · $1.2M · in their own filed words · FY2024
01

Revolving Loan Fund Program

This program provides below market interest rate loans to help business start-up and/or expand.

$1.1Mprogram expense
02

Marketing Cooperative Program

This program involves hiring a marketing firm to promote businesses and communities with videos on facebook and youtube.

$91Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 2 grants · $80K · 2023–2024
Unitemized GrantFY2024$35,000
Unitemized GrantFY2023$45,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Gifts and grantsLn 1h$1.1M
Fees for servicesLn 2g$55K
Investment incomeLn 3$30K
Money outPt IX
$1.2M
Ln 25
Programscol B$1.2M
Managementcol C$47K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$1.7M
Total assetsLn 16$1.9M
LiabilitiesLn 26$2K
PeoplePt VI, VII
19
listed · VII A
PaidVII A1
Voting boardVI 1a19
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Government grantsLn 1e$1.0M
Fees for servicesLn 2g$55K
Investment incomeLn 3$30K
Gains on assetsLn 7$0
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$1.4M
SavingsLn 2$234K
Cash and savings togetherLn 1–2$1.7M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$23K
Other assetsLn 15$0
Total assetsLn 16$1.9M
LiabilitiesLn 26$2K
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 51
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
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$1.6M$1.7M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$23K
Total assetsLn 16$2.0M$1.9M
LiabilitiesLn 26$6K$2K
Net assetsLn 32$2.0M$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$35K$35K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$96K$96K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$11K$11K
Management feesLn 11a$48K$48K
Legal feesLn 11b$19K$19K
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$917K$917K
Advertising and promotionLn 12$104K$91K$13K
Office expensesLn 13$586$586
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$3K$3K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$2K$2K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$6K$6K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$4K$793$3K
All other expensesLn 24e$0
Total functional expensesLn 25$1.2M$1.2M$47K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.1M$1.2M−$107K$1.9M 990 PDF
FY2023 $1.2M$1.7M−$457K$2.0M 990 PDF
FY2022 $2.2M$335K$1.9M$2.4M 990 PDF
FY2021 $230K$147K$83K$579K 990 PDF
FY2020 $215K$144K$72K$581K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,138,609 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,147,172$1,053,697
I-9 Program service revenuePrior year $70,545$55,083
I-10 Investment incomePrior year $2,958$29,829
I-11 Other revenue$0
I-12 Total revenuePrior year $1,220,675$1,138,609
I-13 Grants and similar amounts paidPrior year $45,000$35,000
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $96,698$106,467
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,536,192$1,104,617
I-18 Total expensesPrior year $1,677,890$1,246,084
I-19 Revenue less expensesPrior year −$457,215−$107,475
Part VI · Governance 14 of 19 board members independent, 1 to look at
VI-1a Voting members of the governing body19
VI-1b Independent voting members14
VI-12a Written conflict of interest policyNo
VI-2 Family or business relationship among officers or directorsNo
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 $1,138,609 across 10 lines filed
VIII-1e Government grants$1,045,033
VIII-1f All other contributions, gifts and grants$8,664
VIII-1h Total contributions, gifts and grants$1,053,697
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $55,083$55,083
VIII-3 Investment incomeRelated to mission $29,829$29,829
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $84,912$1,138,609
Part IX · Statement of functional expenses $1,246,084 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $35,000$35,000
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $95,874$95,874
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $10,593$10,593
IX-11a Management feesPrograms $48,003$48,003
IX-11b Legal feesManagement $18,862$18,862
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $917,482$917,482
IX-12 Advertising and promotionPrograms $91,000 · Management $12,708$103,708
IX-13 Office expensesManagement $586$586
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 TravelManagement $3,396$3,396
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsManagement $1,690$1,690
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationManagement $5,819$5,819
IX-23 InsuranceManagement $1,150$1,150
IX-24 Other expenses (24a–d)Programs $793 · Management $3,128$3,921
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $1,198,745 · Management $47,339 · Fundraising $0$1,246,084
Part X · Balance sheet $1,868,654 assets, 17 lines filed
Asset lines not itemized here account for $168,931; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,333,846$1,442,908
X-2 Savings and temporary cash investmentsStart of year $224,582$233,538
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$23,277
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $1,980,520$1,868,654
X-25 Other liabilitiesStart of year $6,402$2,011
X-26 Total liabilitiesStart of year $6,402$2,011
X-32 Total net assets or fund balancesStart of year $1,974,118$1,866,643
X-33 Total liabilities and net assetsStart of year $1,980,520$1,868,654
Part XI · Reconciliation of net assets $1,866,643 net assets at year end
XI-1 Total revenue$1,138,609
XI-2 Total expenses$1,246,084
XI-3 Revenue less expenses−$107,475
XI-4 Net assets at start of year$1,974,118
XI-10 Net assets at end of year$1,866,643

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

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