Form 990 for tax year 2023
Filed by AREA PARTNERSHIP FOR ECONOMIC EXPANSION.
Totals
- Total revenue
- $833,326
- Total expenses
- $733,116
- Contributions and grants received
- $724,750
- Grants paid
- $0
- Program service revenue
- $95,521
- Investment income
- $13,055
- Other revenue
- $0
- Total assets, end of year
- $694,336
- Total liabilities, end of year
- $272,252
- Net assets or fund balances, end of year
- $422,084
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $733,116
Program services were 0.0% 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.
-
1b · Membership dues
$724,750
-
2a · Program service revenue: CONSULTANT FEES
total $68,600 · related or exempt $68,600
-
2b · Program service revenue: PARTNER CONT. - PROGRAMS
total $26,921 · related or exempt $26,921
-
3 · Investment income
total $13,055 · excluded $13,055
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $158,116
-
7 · Other salaries and wages
total $209,719
-
8 · Pension plan contributions
total $8,692
-
9 · Other employee benefits
total $36,501
-
10 · Payroll taxes
total $27,518
-
11g · Fees: other
total $48,386
-
12 · Advertising and promotion
total $61,353
-
13 · Office expenses
total $12,444
-
16 · Occupancy
total $34,898
-
17 · Travel
total $23,285
-
19 · Conferences, conventions and meetings
total $30,885
-
22 · Depreciation, depletion and amortization
total $4,553
-
24a · Other expenses: DIRECT PROGRAM EXPENSE
total $26,921
-
24b · Other expenses: DIRECT PROGRAM EXPENSES
total $23,239
-
24c · Other expenses: DUES AND SUBS
total $16,695
-
24d · Other expenses: TELEPHONE
total $6,511
-
24e · All other expenses
total $3,400
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $429,067 · end of year $664,925
-
4 · Accounts receivable
beginning of year $12,083 · end of year $14,466
-
9 · Prepaid expenses and deferred charges
beginning of year $3,199 · end of year $7,828
-
10a · Land, buildings and equipment: cost or other basis
$138,799
-
10b · Land, buildings and equipment: accumulated depreciation
$131,682
-
10c · Land, buildings and equipment, net
beginning of year $7,878 · end of year $7,117
-
15 · Other assets
beginning of year $11,556
-
17 · Accounts payable and accrued expenses
beginning of year $25,126 · end of year $7,889
-
19 · Deferred revenue
beginning of year $116,783 · end of year $264,363
-
27 · Net assets without donor restrictions
beginning of year $321,874 · end of year $422,084
Mission and programs · 2023
Mission
PROMOTE AND DEVELOP ECONOMIC EXPANSION IN DULUTH AND NORTHEASTERN MN AND NORTHWESTERN WISCONSIN. THE ORGANIZATION LEASD REGIONLA RESEARCH EFFORTS RELATED TO HUMAN RESOURCES, AND EMERGING INDUSTRIES TO INFORM BUSINESS DEBELOPMENT AND BUSINESS RECRUITING ACTIVITIES.
-
ORGANIZATIONS PRIMARY PURPOSE IS ECONOMIC DEVELOPMENT IN NORTHEASTERN MN AND NW WI. ORGANIZATION PROVIDES STRATEGIC PLANNING AND BUSINESS CONSULTING TO EXISTING BUSINESSES AND RECRUITS NEW BUSINESS.
Expenses $648,524
-
THE ORGANIZATION LEADS REGIONAL RESEARCH EFFORTS RELATED TO HUMAN RESOURCES, NATURAL RESOURCES AND EMERGING INDUSTRIES TO INFORM BUSINESS DEVELOPMENT AND BUSINESS RECRUITING ACTIVITIES.
Expenses $23,239 · Revenue $68,600
-
THE ORGANIZATION PROVIDES REGIONAL ECONOMIC DEVELOPMENT PARTNERS WITH ADMINISTRATIVE SUPPORT AND MARKETING SERVICES.
Expenses $61,353 · Revenue $26,921
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Rachel JohnsonRACHEL JOHNSON
CEO/PRESIDEN
- Total calculated
- $162,616
- From this org
- $158,116
- From related orgs
- $0
- Other
- $4,500
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $158,116
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- $4,500
- Filer's total
- $162,616
-
Brad BeardBRAD BEARD
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Lisa BodineLISA BODINE
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Mike BoeselagerMIKE BOESELAGER
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Deb DelucaDEB DELUCA
AT LARGE MEM
- Total calculated
- $0
- Hours/week
- 1
-
Craig FellmanCRAIG FELLMAN
AT LARGE MEM
- Total calculated
- $0
- Hours/week
- 1
-
Frank FredericksonFRANK FREDERICKSON
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Ken JohnsonKEN JOHNSON
AT LARGE MEM
- Total calculated
- $0
- Hours/week
- 1
-
Lorraine LittleLORRAINE LITTLE
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
David McMillianDAVID MCMILLIAN
AT LARGE MEM
- Total calculated
- $0
- Hours/week
- 1
-
Brian ThunBRIAN THUN
AT LARGE MEM
- Total calculated
- $0
- Hours/week
- 1
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
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 April 2024
- IRS schema version
- 2023v5.0
- Source object
- 202431369349311883
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