Skip to content
Nonprofiteer
← FIRST AMERICAN CAPITAL CORPORATION INC

Form 990 for tax year 2023

Filed by FIRST AMERICAN CAPITAL CORPORATION INC.

Totals

Total revenue
$3,163,251
Total expenses
$2,212,487
Contributions and grants received
$2,565,467
Grants paid
$1,020,476
Program service revenue
$336,683
Investment income
$232,505
Other revenue
$28,596
Total assets, end of year
$10,647,427
Total liabilities, end of year
$4,702,079
Net assets or fund balances, end of year
$5,945,348
Program services expenses (Part IX)
$1,878,885
Management and general expenses
$288,199
Fundraising expenses
$45,403
Program service expenses (Part III)
$1,878,885

Program services were 84.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $2,425,467

  • 1f · All other contributions, gifts and grants

    $140,000

  • 2a · Program service revenue: CONTRACT INCOME

    total $324,752 · related or exempt $324,752

  • 2b · Program service revenue: FEE INCOME

    total $11,931 · related or exempt $11,931

  • 3 · Investment income

    total $232,505 · related or exempt $223,041 · excluded $9,464

  • 11a · Other revenue: SHARED SERVICES INCOME

    total $21,000 · related or exempt $21,000

  • 11b · Other revenue: RECOVERY OF BAD DEBT

    total $7,596 · related or exempt $7,596

  • 11e · Other revenue, total

    $28,596

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,020,476 · program services $1,020,476

  • 5 · Compensation of officers, directors and key employees

    total $286,799 · program services $186,419 · management and general $58,334 · fundraising $42,046

  • 7 · Other salaries and wages

    total $343,218 · program services $294,050 · management and general $48,660 · fundraising $508

  • 8 · Pension plan contributions

    total $8,238 · program services $7,228 · management and general $1,010

  • 9 · Other employee benefits

    total $60,367 · program services $53,011 · management and general $7,356

  • 10 · Payroll taxes

    total $47,120 · program services $36,487 · management and general $7,784 · fundraising $2,849

  • 11b · Fees: legal

    total $6,208 · management and general $6,208

  • 11c · Fees: accounting

    total $17,000 · management and general $17,000

  • 11g · Fees: other

    total $16,731 · program services $16,731

  • 12 · Advertising and promotion

    total $40,302 · program services $40,302

  • 13 · Office expenses

    total $28,932 · program services $16,034 · management and general $12,898

  • 14 · Information technology

    total $92,776 · program services $78,860 · management and general $13,916

  • 16 · Occupancy

    total $19,692 · management and general $19,692

  • 17 · Travel

    total $29,738 · program services $29,738

  • 19 · Conferences, conventions and meetings

    total $6,815 · program services $6,815

  • 20 · Interest

    total $49,501 · program services $49,501

  • 22 · Depreciation, depletion and amortization

    total $32,131 · management and general $32,131

  • 23 · Insurance

    total $7,712 · program services $6,555 · management and general $1,157

  • 24a · Other expenses: MEMBERSHIP DUES

    total $58,562 · management and general $58,562

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $36,678 · program services $36,678

  • 24c · Other expenses: OTHER EXPENSES

    total $3,491 · management and general $3,491

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $867,832 · end of year $1,480,338

  • 2 · Savings and temporary cash investments

    beginning of year $3,558,090 · end of year $3,721,436

  • 3 · Pledges and grants receivable

    beginning of year $151,363 · end of year $87,387

  • 4 · Accounts receivable

    beginning of year $132,064 · end of year $202,870

  • 7 · Other notes and loans receivable

    beginning of year $2,973,223 · end of year $4,421,436

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,538 · end of year $12,379

  • 10a · Land, buildings and equipment: cost or other basis

    $342,671

  • 10b · Land, buildings and equipment: accumulated depreciation

    $83,032

  • 10c · Land, buildings and equipment, net

    beginning of year $267,835 · end of year $259,639

  • 13 · Investments: program-related

    beginning of year $30,826 · end of year $28,360

  • 14 · Intangible assets

    beginning of year $52,425 · end of year $40,457

  • 15 · Other assets

    beginning of year $185,155 · end of year $393,125

  • 17 · Accounts payable and accrued expenses

    beginning of year $35,965 · end of year $39,866

  • 19 · Deferred revenue

    beginning of year $395,736 · end of year $1,544,228

  • 23 · Secured mortgages and notes payable

    beginning of year $2,804,066 · end of year $3,117,985

  • 27 · Net assets without donor restrictions

    beginning of year $4,058,648 · end of year $5,379,337

  • 28 · Net assets with donor restrictions

    beginning of year $935,936 · end of year $566,011

Mission and programs · 2023

Mission

THE MISSION OF FACC IS TO CONTRIBUTE TO ECONOMIC DEVELOPMENT IN WISCONSIN INDIAN COUNTRY THROUGH FACILITATING ACCESS TO CAPITAL IN THE FORM OF BUSINESS LOANS FOR AMERICAN INDIAN OWNED ENTERPRISES AND THROUGH PROVIDING PRE- AND POST-LOAN TECHNICAL ASSISTANCE.

  • PROGRAM SERVICES: FACC MISSION-DRIVEN OUTCOMES INCLUDED DEPLOYING MICRO-BUSINESS LOANS RESULTING IN NEW FAMILY SUPPORTING FULL TIME JOBS BEING CREATED AND CONTRIBUTING TO THE RETENTION OF EXISTING JOBS IN WISCONSIN. IN ADDITION, CLIENTS RECEIVED FACC ONE-TO-ONE BUSINESS MANAGEMENT CAPACITY BUILDING TECHNICAL ASSISTANCE AND BUSINESS MANAGEMENT WORKSHOPS DELIVERED VIRTUALLY - AND IN PERSON - DESIGNED TO INCREASE THE COMPETITIVENESS OF FACC CLIENTS AND ASSIST IN THEIR EVENTUAL GRADUATION FROM THE FACC PORTFOLIO WHEN MEETING THE CREDIT STANDARDS OF COMMERCIAL BANKS. IN 2023 FACC AWARDED DIVERSE BUSINESS INVESTMENT EQUITY GRANTS TO QUALIFYING SMALL BUSINESSES DISPROPORTIONATELY IMPACTED BY THE PANDEMIC TO HELP FURTHER RECOVERY AND TO BUILD RESILIENCE AGAINST THE NEXT ECONOMICALLY DISRUPTIVE EVENTS.

    Expenses $1,878,885 · Grants $1,020,476 · Revenue $567,320

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jeff Bowman

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Craig Clements

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • David Willeford

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Art Olszewski

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Terry Williamson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Salli Martyniak

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gary Mejchar

    CO-EXECUTIVE DIRECTOR

    Total calculated
    $144,011
    From this org
    $114,761
    From related orgs
    $0
    Other
    $29,250
    Hours/week
    40

  • William Beson

    CO-EXECUTIVE DIRECTOR

    Total calculated
    $142,787
    From this org
    $114,761
    From related orgs
    $0
    Other
    $28,026
    Hours/week
    40

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.

Grants on this return

  • PETROLEUM HEAT & POWER INC

    $125,000

    PANDEMIC RECOVERY/RESILIENCE

  • GREEN LEAF FARMS OF CHETEK LLC

    $125,000

    PANDEMIC RECOVERY/RESILIENCE

  • DIAMOND HVAC LLC

    $125,000

    PANDEMIC RECOVERY/RESILIENCE

  • MELTZ INDUSTRIES LLC

    $125,000

    PANDEMIC RECOVERY/RESILIENCE

  • DAN BROWN TRUCKING LLC

    $125,000

    PANDEMIC RECOVERY/RESILIENCE

  • BOIVIN EXCAVATING LLC

    $115,922

    PANDEMIC RECOVERY/RESILIENCE

  • ANASA TRAFFIC AND CONTROL SERVICES LLC

    $88,000

    PANDEMIC RECOVERY/RESILIENCE

  • ARROWHEAD TRUCKING LLC

    $69,554

    PANDEMIC RECOVERY/RESILIENCE

  • DESTROY IRON FITNESS INC

    $50,000

    PANDEMIC RECOVERY/RESILIENCE

  • TOURTILLOTT FOREST PRODUCTS LLC

    $29,500

    PANDEMIC RECOVERY/RESILIENCE

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
1 November 2024
IRS schema version
2023v5.1
Source object
202443069349301784

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.