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Merrill Area Development Corporation FY2021 filing

Not tax-deductible

Merrill, WI501(c)(4)EIN 39-6081116Revenue $313K in FY2021

On file with the IRS801 N Sales Street, 54452-1633 · Merrill, WITax-exempt since Dec 1957

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Merrill Area Development Corporation promotes economic Development in Merrill, WI and the surrounding Area.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · 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
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
66 mo
of spending, in cash
Looks good: 66.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$313K
Spent
$75K
To programs
100%
Net assets
$410K
By yearFY2021–FY2023
Revenue
$313K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$313K
FY2022$4K
FY2023$4K
Net assets
$410K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$410K
FY2022$367K
FY2023$361K

From the FY2021 Form 990 (year ending July 2021) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Dec 1957.

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% · $75K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Ken Maule
Director
$0Pt VII · Sec A
Mike Neuman
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Kent Johnson
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Adam Rekau
Director
$0Pt VII · Sec A
See Merrill 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 15aNo

Programs and updates

Promotes economic development in Merrill, Wisconsin and the surrounding area.

Provided by the organization

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2 programs · $75K · in their own filed words · FY2020
01

Lincoln county economic development authority promotes development in lincoln county which is the county where the city of merrill is located.

$75Kprogram expense
02

Merrill area development corporation maintenace cost related to industrial park. City of merrill contributes capital into madc.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$313K
Ln 12
Investment incomeLn 3$300K
Other incomeLn 4–11$12K
Money outPt IX
$75K
Ln 25
Programscol B$75K
Owns and owesPt X
$410K
net assets · Ln 32
Cash and savingsLn 1–2$410K
Total assetsLn 16$410K
LiabilitiesLn 26$0
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$300K
Other incomeLn 4–11$12K
Gains on assetsLn 7$300K
Total revenueLn 12$313K
Assets in detailPt X, end of year
SavingsLn 2$410K
Cash and savings togetherLn 1–2$410K
Total assetsLn 16$410K
LiabilitiesLn 26$0
Net assetsLn 32$410K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJuly
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$116K$410K
Total assetsLn 16$169K$410K
LiabilitiesLn 26$0$0
Net assetsLn 32$169K$410K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$150$150
Other fees for servicesLn 11g$6K$6K
Office expensesLn 13$524$524
OccupancyLn 16$18K$18K
Conferences, conventions and meetingsLn 19$59$59
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$43K$43K
Total functional expensesLn 25$75K$75K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $4K$361K 990 PDF
FY2022 $4K$367K 990 PDF
FY2021 Viewing $313K$75K$238K$410K 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 FY2021 990 (6 parts)
Part I · Summary $312,576 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $351$300,323
I-11 Other revenuePrior year $13,000$12,253
I-12 Total revenuePrior year $13,351$312,576
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $24,837$74,504
I-18 Total expensesPrior year $24,837$74,504
I-19 Revenue less expensesPrior year −$11,486$238,072
Part VI · Governance 13 of 13 board members independent, 3 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $312,576 across 4 lines filed
VIII-3 Investment incomeRelated to mission $323$323
VIII-7 Net gain or loss on sales of assetsRelated to mission $300,000$300,000
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $12,253$12,253
VIII-12 Total revenueRelated to mission $312,576 · Unrelated business $0 · Excluded from tax $0$312,576
Part IX · Statement of functional expenses $74,504 across 8 lines filed
IX-11b Legal feesPrograms $2,151$2,151
IX-11c Accounting feesPrograms $150$150
IX-11g Other fees for servicesPrograms $6,300$6,300
IX-13 Office expensesPrograms $524$524
IX-16 OccupancyPrograms $18,216$18,216
IX-19 Conferences, conventions and meetingsPrograms $59$59
IX-23 InsurancePrograms $4,138$4,138
IX-24 Other expenses (24a–d)Programs $42,966$42,966
IX-25 Total functional expensesPrograms $74,504 · Management $0 · Fundraising $0$74,504
Part X · Balance sheet $410,320 assets, 5 lines filed
X-2 Savings and temporary cash investmentsStart of year $115,906$410,320
X-16 Total assetsStart of year $169,047$410,320
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $169,047$410,320
X-33 Total liabilities and net assetsStart of year $169,047$410,320
Part XI · Reconciliation of net assets $410,320 net assets at year end
XI-1 Total revenue$312,576
XI-2 Total expenses$74,504
XI-3 Revenue less expenses$238,072
XI-4 Net assets at start of year$169,047
XI-9 Other changes in net assets$3,201
XI-10 Net assets at end of year$410,320

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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