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Nonprofiteer
← TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY

Form 990 for tax year 2023

Filed by TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY.

Totals

Total revenue
$3,600,147
Total expenses
$3,682,503
Contributions and grants received
$0
Grants paid
$100,000
Program service revenue
$3,421,041
Investment income
$152,036
Other revenue
$27,070
Total assets, end of year
$7,429,184
Total liabilities, end of year
$3,190,615
Net assets or fund balances, end of year
$4,238,569
Program services expenses (Part IX)
$3,120,874
Management and general expenses
$561,629
Fundraising expenses
$0
Program service expenses (Part III)
$3,120,874

Program services were 84.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • PETE INGEBRAND

    PRESIDENT

    Total calculated
    $382,500
    From this org
    $343,762
    From related orgs
    $0
    Other
    $38,738
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $238,229
    Bonus
    $69,250
    Other
    $36,283
    Deferred
    $8,864
    Nontaxable benefits
    $29,874
    Filer's total
    $382,500

  • PAUL LAMBERT

    SECRETARY/SENIOR VICE PRESIDENT

    Total calculated
    $233,245
    From this org
    $196,711
    From related orgs
    $0
    Other
    $36,534
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $155,618
    Bonus
    $28,980
    Other
    $12,113
    Deferred
    $5,457
    Nontaxable benefits
    $31,077
    Filer's total
    $233,245

  • JIM LOUWAGIE

    BOARD MEMBER/CHAIR

    Total calculated
    $4,405
    From this org
    $4,405
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • KEVIN MAAS - BOARD MEMBER

    TREASURER/SECRETARY

    Total calculated
    $4,020
    From this org
    $4,020
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • BRAD BENESH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • MIKE BRASS

    BOARD MEMBER

    Total calculated
    $1,805
    From this org
    $1,805
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • JONATHAN DOLPHIN

    BOARD MEMBER

    Total calculated
    $2,015
    From this org
    $2,015
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • CAROL MALONEY

    BOARD MEMBER

    Total calculated
    $1,945
    From this org
    $1,945
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • ROYCE NELLIGAN

    BOARD MEMBER

    Total calculated
    $3,340
    From this org
    $3,340
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • SHELLEY PETERSON

    BOARD MEMBER

    Total calculated
    $1,910
    From this org
    $1,910
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • STEVE POWELL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • MIKE SCHOLL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • LEVI SMITH

    BOARD MEMBER

    Total calculated
    $1,805
    From this org
    $1,805
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • BRYAN TOFT

    BOARD MEMBER

    Total calculated
    $1,945
    From this org
    $1,945
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • DAVID WASMUTH

    BOARD MEMBER

    Total calculated
    $4,875
    From this org
    $4,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • DENNIS WELCH

    BOARD MEMBER

    Total calculated
    $5,800
    From this org
    $5,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • DEBORAH GUSTAFSON

    SENIOR LENDER/SENIOR VICE PRESIDENT

    Total calculated
    $301,315
    From this org
    $260,034
    From related orgs
    $0
    Other
    $41,281
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $200,240
    Bonus
    $41,796
    Other
    $17,998
    Deferred
    $7,015
    Nontaxable benefits
    $34,266
    Filer's total
    $301,315

  • SHEIL NELSON

    SENIOR LENDER

    Total calculated
    $258,250
    From this org
    $214,788
    From related orgs
    $0
    Other
    $43,462
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $184,417
    Bonus
    $19,382
    Other
    $10,989
    Deferred
    $6,269
    Nontaxable benefits
    $37,193
    Filer's total
    $258,250

  • MICHAEL KINNINGER

    LOAN OFFICER

    Total calculated
    $180,908
    From this org
    $165,473
    From related orgs
    $0
    Other
    $15,435
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $144,473
    Bonus
    $21,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,435
    Filer's total
    $180,908

  • MELISSA MILLER

    LOAN OFFICER

    Total calculated
    $159,663
    From this org
    $153,060
    From related orgs
    $0
    Other
    $6,603
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $119,705
    Bonus
    $16,500
    Other
    $16,855
    Deferred
    $3,884
    Nontaxable benefits
    $2,719
    Filer's total
    $159,663

  • MICHAEL KINDERMAN

    LOAN OFFICER

    Total calculated
    $158,704
    From this org
    $143,672
    From related orgs
    $0
    Other
    $15,032
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $128,272
    Bonus
    $15,400
    Other
    $0
    Deferred
    $4,344
    Nontaxable benefits
    $10,688
    Filer's total
    $158,704

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
THE ORGANIZATION HAS A DEFERRED COMPENSATION PLAN FOR ITS EMPLOYEES. UNDER THE TERMS OF THE PLAN, ALL FULL-TIME EMPLOYEES ARE ELIGIBLE TO PARTICIPATE AND ACCRUE 5% FOR EACH YEAR OF EMPLOYMENT, BUT ARE NOT VESTED UNTIL THEY HAVE COMPLETED TEN YEARS OF EMPLOYMENT. ONCE THE EMPLOYEE IS VESTED, THE VESTED PORTION OF THE PLAN AND SUBSEQUENT YEARS OF VESTING ARE REPORTED AS WAGES SUBJECT TO SOCIAL SECURITY AND MEDICARE ON BOXES 3 AND 5 OF THE EMPLOYEE'S W-2. THE FOLLOWING EMPLOYEES LISTED ON 990 PAGE 7, PART VII HAVE ACCRUED AMOUNTS UNDER THE DEFERRED COMPENSATION PLAN DURING FISCAL YEAR 2024: PETE INGEBRAND $15,300 PAUL LAMBERT $17,754 DEBORAH GUSTAFSON $18,827 SHEIL NELSON $10,989 MELISSA MILLER $14,493 UPON TERMINATION, IF THE EMPLOYEE IS VESTED, THEY RECEIVE A BENEFIT EQUAL TO A PERCENTAGE OF THEIR HIGHEST COMPENSATION DURING THE PRIOR FIVE FISCAL YEARS. AN EMPLOYEE CAN ACCRUE UP TO A MAXIMUM BENEFIT OF 200%. BENEFIT PAYMENTS ARE TO BE PAID OUT EQUALLY OVER TWELVE MONTHS. WHEN THE BENEFITS ARE PAID, THEY ARE REPORTED AS TAXABLE COMPENSATION ON BOX 1 OF THE EMPLOYEE'S W-2.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
24 January 2025
IRS schema version
2023v6.0
Source object
202500379349300910

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