Ashland Development Corp
- Assets
- $2.0m
- Revenue
- $397.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Ashland, WI
- Founding
- 11/1984
- Data as of
- 12/2021
- EIN
- 39-1483663
Organization Overview
Ashland Development Corp is located in Ashland, WI. The organization was established in 1984. 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, Ashland Development Corp employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ashland Development Corp 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, Ashland Development Corp generated $397.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $323.6k during the year ending 12/2021. 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
TO FURTHER ECONOMIC DEVELOPMENT IN THE ASHLAND AREA OF WISCONSIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FURTHER ECONOMIC DEVELOPMENT IN THE ASHLAND AREA OF WISCONSIN.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Singler Treasurer | OfficerTrustee | $0 | |
Jason Fischbach President | OfficerTrustee | $0 | |
Steve Bitzer Vice-Preside | OfficerTrustee | $0 | |
Stephanie Cech Secretary | OfficerTrustee | $0 | |
Jason Douglas Director | Trustee | $0 | |
Tyler Wickman Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $75,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $88,752 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $163,752 |
| Total Program Service Revenue | $231,717 |
| Investment income | $1,819 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $397,645 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $144,659 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,599 |
| Payroll taxes | $10,573 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,847 |
| Office expenses | $5,361 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,655 |
| Travel | $420 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,293 |
| Insurance | $13,656 |
| All other expenses | $2,904 |
| Total functional expenses | $323,637 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,084 |
| Savings and temporary cash investments | $757,134 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $111,268 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $73,969 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,053,914 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $56 |
| Total assets | $2,017,425 |
| Accounts payable and accrued expenses | $140,671 |
| Grants payable | $0 |
| Deferred revenue | $4,373 |
| 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 | $70,000 |
| Other liabilities | $0 |
| Total liabilities | $215,044 |
| Net assets without donor restrictions | $1,559,583 |
| Net assets with donor restrictions | $242,798 |
| 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 | $2,017,425 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ashland Development Corp has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Greater Green Bay Community Foundation Inc Green Bay, WI PURPOSE: PUBLIC BENEFIT & COMMUNITY IMPROVEMENT PROGRAM SUPPORT | $5,000 |
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 |