Waupaca County Economic Development Corp FY2023 filing

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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.
100¢ of each $1 spent went to programs.
$86K 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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FY2023 · 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
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$86K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
11 mo
of spending, in cash
Looks good: 11.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6K
0.3% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 14 voting members
Looks good: 13 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
-44% vs prior year
Spent
$1.7M
To programs
100%
Net assets
$2.0M
By yearFY2020–FY2024
Revenue
$1.2M
FY2023▼ -44%
Tap a bar for its year
Revenue by fiscal year
FY2020$215K
FY2021$230K
FY2022$2.2M
FY2023$1.2M
FY2024$1.1M
Expenses
$1.7M
FY2023▲ +401%
Tap a bar for its year
Expenses by fiscal year
FY2020$144K
FY2021$147K
FY2022$335K
FY2023$1.7M
FY2024$1.2M
Net assets
$2.0M
FY2023▼ -19%
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 FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

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

100 cents of each dollar spent went to programs.

Program services 100% · $1.7M Management & general 0% · $6K

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

14 people listed on the 990; $86K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Di
$85,680Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$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 · $1.7M · in their own filed words · FY2023
01

Revolving Loan Fund Program

This program provides below market interest rate loans to help businesses start-up AND/OR expand.

$1.5Mprogram expense
02

Marketing Cooperative Program

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

$127Kprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$1.1M
Fees for servicesLn 2g$71K
Investment incomeLn 3$3K
Money outPt IX
$1.7M
Ln 25
Programscol B$1.7M
Managementcol C$6K
Owns and owesPt X
$2.0M
net assets · Ln 32
Cash and savingsLn 1–2$1.6M
Total assetsLn 16$2.0M
LiabilitiesLn 26$6K
PeoplePt VI, VII
14
listed · VII A
PaidVII A1
Voting boardVI 1a14
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Government grantsLn 1e$1.1M
Fees for servicesLn 2g$71K
Investment incomeLn 3$3K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$1.3M
SavingsLn 2$225K
Cash and savings togetherLn 1–2$1.6M
Total assetsLn 16$2.0M
LiabilitiesLn 26$6K
Net assetsLn 32$2.0M
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 FY23End FY23
Cash and savingsLn 1–2$2.1M$1.6M
Total assetsLn 16$2.4M$2.0M
LiabilitiesLn 26$0$6K
Net assetsLn 32$2.4M$2.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$45K$45K
Other salaries and wagesLn 7$86K$86K
Pension plan contributionsLn 8$5K$5K
Payroll taxesLn 10$6K$6K
Management feesLn 11a$49K$49K
Accounting feesLn 11c$86$86
Other fees for servicesLn 11g$1.3M$1.3M
Advertising and promotionLn 12$144K$144K
Office expensesLn 13$638$638
Information technologyLn 14$3K$3K
TravelLn 17$3K$3K
Conferences, conventions and meetingsLn 19$1K$1K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$32K$32K
All other expensesLn 24e$35$35
Total functional expensesLn 25$1.7M$1.7M$6K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$1.2M−$107K$1.9M 990 PDF
FY2023 Viewing $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 FY2023 990 (6 parts)
Part I · Summary $1,220,675 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,066,758$1,147,172
I-9 Program service revenuePrior year $120,571$70,545
I-10 Investment income$2,958
I-11 Other revenue$0
I-12 Total revenuePrior year $2,187,329$1,220,675
I-13 Grants and similar amounts paid$45,000
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $102,088$96,698
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $233,036$1,536,192
I-18 Total expensesPrior year $335,124$1,677,890
I-19 Revenue less expensesPrior year $1,852,205−$457,215
Part VI · Governance 13 of 14 board members independent, 1 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members13
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 $1,220,675 across 6 lines filed
VIII-1e Government grants$1,139,922
VIII-1f All other contributions, gifts and grants$7,250
VIII-1h Total contributions, gifts and grants$1,147,172
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $70,545$70,545
VIII-3 Investment incomeRelated to mission $2,958$2,958
VIII-12 Total revenueRelated to mission $73,503$1,220,675
Part IX · Statement of functional expenses $1,677,890 across 15 lines filed
IX-2 Grants to domestic individualsPrograms $45,000$45,000
IX-7 Other salaries and wagesPrograms $85,680$85,680
IX-8 Pension plan contributionsPrograms $4,800$4,800
IX-10 Payroll taxesPrograms $6,218$6,218
IX-11a Management feesPrograms $49,447$49,447
IX-11c Accounting feesManagement $86$86
IX-11g Other fees for servicesPrograms $1,302,191$1,302,191
IX-12 Advertising and promotionPrograms $143,548$143,548
IX-13 Office expensesManagement $638$638
IX-14 Information technologyPrograms $3,272$3,272
IX-17 TravelManagement $2,713$2,713
IX-19 Conferences, conventions and meetingsManagement $1,477$1,477
IX-23 InsuranceManagement $1,209$1,209
IX-24 Other expenses (24a–d)Programs $31,576$31,576
IX-24e All other expensesPrograms $35$35
IX-25 Total functional expensesPrograms $1,671,767 · Management $6,123 · Fundraising $0$1,677,890
Part X · Balance sheet $1,980,520 assets, 7 lines filed
Asset lines not itemized here account for $422,092; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $2,125,732$1,333,846
X-2 Savings and temporary cash investmentsStart of year $21,887$224,582
X-16 Total assetsStart of year $2,431,333$1,980,520
X-25 Other liabilities$6,402
X-26 Total liabilitiesStart of year $0$6,402
X-32 Total net assets or fund balancesStart of year $2,431,333$1,974,118
X-33 Total liabilities and net assetsStart of year $2,431,333$1,980,520
Part XI · Reconciliation of net assets $1,974,118 net assets at year end
XI-1 Total revenue$1,220,675
XI-2 Total expenses$1,677,890
XI-3 Revenue less expenses−$457,215
XI-4 Net assets at start of year$2,431,333
XI-10 Net assets at end of year$1,974,118

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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