Langlade County Economic Development Corporation
- Assets
- $815.6k
- Revenue
- $248.5k
- Investments
- $0.0
- Employees
- 3
- Location
- Antigo, WI
- Founding
- 04/2009
- Data as of
- 12/2021
- EIN
- 26-2179693
Organization Overview
Langlade County Economic Development Corporation is located in Antigo, WI. The organization was established in 2009. 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, Langlade County Economic Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Langlade County Economic Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Langlade County Economic Development Corporation generated $248.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $296.4k during the year ending 12/2021. While expenses have increased by 8.3% 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
THE PURPOSE FOR THE LANGLADE COUNTY ECONOMIC DEVELOPMENT CORPORATION IS EXCLUSIVELY FOR THE CIVIC BETTERMENT AND ECONOMIC DEVELOPMENT OF LANGLADE COUNTY, WISCONSIN, THROUGH THE ATTRACTION AND EXPANSION OF NEW AND EXISTING INDUSTRIAL, RECREATIONAL AND COMMERCIAL ENTERPRISES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ATTRACT NEW INDUSTRY TO THE AREA BY CREATING A COUNTY-WIDE MARKETING STRATEGY FOCUSING ON EDUCATION, WORKFORCE DEVELOPMENT, AND AREA INDUSTRIES AND RECREATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Close Executive Di | Officer | 40 | $64,954 |
Thomas Bauknecht Vice Preside | OfficerTrustee | 0.5 | $0 |
Sarah Koszarek Secretary/tr | OfficerTrustee | 0.45 | $0 |
Dillon Gretzinger President | OfficerTrustee | 0.6 | $0 |
Fred Westphal Director | Trustee | 0.15 | $0 |
Ron Nye Director | Trustee | 0.45 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $150,191 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $166,191 |
| Total Program Service Revenue | $67,227 |
| Investment income | $14,300 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $750 |
| 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 | $248,468 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $7,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $72,213 |
| Compensation of current officers, directors, key employees. | $6,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $41,745 |
| Pension plan accruals and contributions | $2,814 |
| Other employee benefits | $43,591 |
| Payroll taxes | $8,076 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $105 |
| Fees for services: Accounting | $6,357 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,255 |
| Advertising and promotion | $63,427 |
| Office expenses | $3,936 |
| Information technology | $10,064 |
| Royalties | $0 |
| Occupancy | $3,400 |
| Travel | $1,789 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,966 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,238 |
| Insurance | $2,799 |
| All other expenses | $1,455 |
| Total functional expenses | $296,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,548 |
| Savings and temporary cash investments | $264,314 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,590 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $490,053 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,019 |
| Net Land, buildings, and equipment | $31,089 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $815,613 |
| Accounts payable and accrued expenses | $15,428 |
| Grants payable | $0 |
| Deferred revenue | $250 |
| 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 | $15,678 |
| Net assets without donor restrictions | $751,456 |
| Net assets with donor restrictions | $48,479 |
| 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 | $815,613 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Langlade County Economic Development Corporation has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Suick Family Foundation Wilmington, DE PURPOSE: ENTREPRENEURIAL EFFORTS IN LANGLADE COUNTY | $15,000 |
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 |