Madison Region Economic Partnership Inc
- Assets
- $2.7m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 8
- Location
- Madison, WI
- Founding
- 04/2010
- Data as of
- 12/2021
- EIN
- 71-1015136
Organization Overview
Madison Region Economic Partnership Inc is located in Madison, WI. The organization was established in 2010. 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, Madison Region Economic Partnership Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison Region Economic Partnership Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Madison Region Economic Partnership Inc generated $3.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.0% each year . All expenses for the organization totaled $3.3m during the year ending 12/2021. While expenses have increased by 17.4% 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
TO PROTECT, LEVERAGE, AND ACCELERATE THE GROWTH OF OUR REGIONS STRONGEST ECONCOMIC OPPORTUNITIES AND TO FACILITATE AND SUPPORT COLLABORATIVE REGIONAL EFFORTS THAT PRESERVE AND ENHANCE OUR QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GROW OUR REGION'S OWN: THE DRIVING FORCE BEHIND NEW JOB AND INVESTMENT GROWTH IS THE EXPANSION OF ALREADY EXISTING COMPANIES. SUPPORTING AND BUILDING THE STREGTH OF THESE COMPANIES AND KEY SECTORS IS THE FOUNDATION OF LONG-TERM ECONOMIC DEVELOPMENT AND IS CENTRAL TO OUR CORE PHILOSOPHY. WE WILL ACCOMPLISH THIS THROUGH TWO PRIMARY INITIATIVES, CAPITAL GROWTH AND SECTOR DEVELOPMENT - INITIATIVE 1: CAPITAL GROWTH 2 REVOLVING LOAN FUND 3 ECONCOMIC DEVELOPMENT DISTRICT EDD AND INITATIVE 2 COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY CEDS - 1 STRATEGY COMMITTEE 2 INPUT SESSIONS AND INVESTORY RECEPTION 3 COMMUNICATIONS
BUILD OUR REGION'S COMPETITIVE ADVANTAGE: WE WILL TARGET RESOURCES TOWARD ENSURING THAT THE MADISON REGION'S POLICYMAKERS AND BUSINESS LEADERS HAVE TIMELY AND RELEVANT INFORMATION FROM WHICH TO BASE THEIR DECISIONS. TO MAINTAIN OUR INTERNATIONAL COMPETITIVENESS. IT IS IMPORTANT TO CREATE THE CONTEXT THROUGH GOOD PUBLIC POLICY FOR LONG-TERM ECONOMIC GROWTH AND THE PRESERVATION OF OUR REGION'S QUALITY OF LIFE - INITIATIVE 3 COMMUNICATIONS - 1 WEBSITE DESIGN 2 MEDIA COVERAGE 3 SPEAKING ENGAGEMENTS
PROMOTE A REGIONAL CULTURE AND BRAND: CONVENE STAKEHOLDERS FROM ACROSS THE MADISON REGION TO MOBILIZE DIALOGUE ON A RANGE OF IMPORTANT FRONTS, CENTRAL TO THIS COLLABORATION HAS BEEN AND WILL CONTINUE TO BE RAISING AWARENESS OF HOW THE SUCCESS OF ONE PART OF OUR REGION CAN TRANSLATE INTO SUCCESS FOR OUR ENTIRE REGION, GOING FORWARD, OUR WORK WILL BUILD ON THIS STRONG FOUNDATION AND CONTINUE TO BUILD BRIDGES BETWEEN AND WITHIN THE PUBLIC AND PRIVATE SECTORS TO EFFECTUATE TANGIBLE CHANGE AND GROWTH - INITIATIVE 4 REGIONAL PROMOTION & COLLABORATION - 1 BUSINESS LINK - SYNCHRONIST ED PRO SUPPORT
EDA SECTOR STRATEGY GRANT, USDA REVOLVING LOAN FUND (RLF) PROGRAM AND MAIN STREET BOUNCE BACK GRANT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Fields President | Officer | 40 | $155,375 |
Tom Solheim Secretary | Officer | 1 | $0 |
Peter Tan Vice Chair | Officer | 1 | $0 |
Julia Arata-Fratta Treasurer | Officer | 1 | $0 |
Juli Aulik Chair | Officer | 1 | $0 |
Dan Brown Past Chair | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,945,539 |
| All other contributions, gifts, grants, and similar amounts not included above | $311,420 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,256,959 |
| Total Program Service Revenue | $105,185 |
| Investment income | $160 |
| 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 | $3,362,304 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,380,000 |
| 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. | $155,375 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $350,392 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $55,504 |
| Payroll taxes | $38,533 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,720 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $132,085 |
| Advertising and promotion | $12,532 |
| Office expenses | $2,441 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $73,338 |
| Travel | $1,405 |
| 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 | $2,106 |
| Insurance | $2,487 |
| All other expenses | $1,985 |
| Total functional expenses | $3,266,726 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,101,222 |
| Savings and temporary cash investments | $233,886 |
| Pledges and grants receivable | $9,858 |
| Accounts receivable, net | $277,263 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,578 |
| Net Land, buildings, and equipment | $21,414 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,000 |
| Total assets | $2,651,221 |
| Accounts payable and accrued expenses | $21,075 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $372,210 |
| Other liabilities | $1,587,624 |
| Total liabilities | $1,980,909 |
| Net assets without donor restrictions | $670,312 |
| Net assets with donor restrictions | $0 |
| 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 | $2,651,221 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Madison Region Economic Partnership Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Meriter Health Services Inc Madison, WI PURPOSE: PROGRAM SUPPORT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Southwest Michigan First Corporation Kalamazoo, MI | $10,945,070 | $8,560,798 |
Wenonah Park Properties Inc Bay City, MI | $22,411,152 | $7,079,713 |