Form 990 for tax year 2025
Filed by MILWAUKEE REGIONAL INNOVATION CENTER INC.
Totals
- Total revenue
- $1,314,512
- Total expenses
- $1,178,631
- Contributions and grants received
- $0
- Grants paid
- $15,000
- Program service revenue
- $1,048,413
- Investment income
- $265,655
- Other revenue
- $444
- Total assets, end of year
- $8,736,210
- Total liabilities, end of year
- $263,266
- Net assets or fund balances, end of year
- $8,472,944
- Program services expenses (Part IX)
- $928,464
- Management and general expenses
- $250,167
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $928,464
Program services were 78.8% 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.
-
2a · Program service revenue: RENTAL REVENUE
total $971,641 · related or exempt $971,641
-
2b · Program service revenue: DEVELOPMENT FUND INCOM
total $76,772 · related or exempt $76,772
-
3 · Investment income
total $265,963 · excluded $265,963
-
7b · Less cost or other basis and sales expenses
other assets $308
-
7c · Gain or loss
other assets -$308
-
7d · Net gain or loss
total -$308 · excluded -$308
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $444 · related or exempt $444
-
11e · Other revenue, total
$444
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $15,000 · program services $15,000
-
5 · Compensation of officers, directors and key employees
total $199,048 · program services $129,380 · management and general $69,668
-
7 · Other salaries and wages
total $149,797 · program services $139,232 · management and general $10,565
-
8 · Pension plan contributions
total $22,354 · program services $20,885 · management and general $1,469
-
9 · Other employee benefits
total $1,992 · program services $1,851 · management and general $141
-
10 · Payroll taxes
total $24,244 · program services $18,956 · management and general $5,288
-
11c · Fees: accounting
total $66,508 · management and general $66,508
-
11g · Fees: other
total $25,650 · management and general $25,650
-
12 · Advertising and promotion
total $16,534 · management and general $16,534
-
13 · Office expenses
total $15,902 · management and general $15,902
-
14 · Information technology
total $36,093 · program services $19,877 · management and general $16,216
-
16 · Occupancy
total $500,848 · program services $500,848
-
17 · Travel
total $322 · management and general $322
-
19 · Conferences, conventions and meetings
total $2,083 · program services $2,083
-
20 · Interest
total $356 · management and general $356
-
22 · Depreciation, depletion and amortization
total $60,504 · program services $57,303 · management and general $3,201
-
23 · Insurance
total $40,524 · program services $22,177 · management and general $18,347
-
24a · Other expenses: MISCELLANEOUS
total $872 · program services $872
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $218,668 · end of year $164,022
-
2 · Savings and temporary cash investments
beginning of year $70,337 · end of year $61,921
-
4 · Accounts receivable
beginning of year $28,980 · end of year $63,980
-
7 · Other notes and loans receivable
end of year $8,889
-
9 · Prepaid expenses and deferred charges
beginning of year $18,239 · end of year $16,120
-
10a · Land, buildings and equipment: cost or other basis
$956,323
-
10b · Land, buildings and equipment: accumulated depreciation
$206,487
-
10c · Land, buildings and equipment, net
beginning of year $694,559 · end of year $749,836
-
12 · Investments: other securities
beginning of year $6,797,422 · end of year $7,327,669
-
13 · Investments: program-related
beginning of year $338,849 · end of year $338,541
-
15 · Other assets
beginning of year $8,433 · end of year $5,232
-
17 · Accounts payable and accrued expenses
beginning of year $167,777 · end of year $165,285
-
19 · Deferred revenue
beginning of year $11,858 · end of year $16,254
-
25 · Other liabilities
beginning of year $79,322 · end of year $81,727
-
27 · Net assets without donor restrictions
beginning of year $7,916,530 · end of year $8,472,944
Mission and programs · 2025
Mission
TO MANAGE AND OPERATE THE TECHNOLOGY INNOVATION CENTER AND THE MILWAUKEE COUNTY RESEARCH PARK.
Activities or mission (Part I)
THE MISSION OF THE ORGANIZATION IS (1) TO CREATE A CENTER FOR ENCOURAGING ENTREPRENEURSHIP MOTIVATED BY THE DESIRE TO GENERATE NEW EMPLOYMENT OPPORTUNITIES AND STIMULATE DEVELOPMENT; AND (2) TO PURSUE INNOVATION AND DEVELOPMENT OF RESEARCH PRODUCTS FOR THE BENEFIT OF THE MILWAUKEE REGIONAL MEDICAL CENTER, AREA UNIVERSITIES AND TECHNICAL SCHOOLS, AS WELL AS THE MILWAUKEE AREA, THE STATE OF WISCONSIN AND THE REGION; (3) TO SUPPORT AND HOUSE NEW AND DEVELOPING BUSINESSES ENGAGED IN TECHNOLOGY DEVELOPMENT, SCIENTIFIC RESEARCH AND RELATED ACTIVITIES, AND TO MODIFY AND REHABILITATE AND DEVELOP A TECHNOLOGY INNOVATION CENTER TO FURTHER THESE PURPOSES; 4) TO COMPLETE THE DEVELOPMENT OF THE MILWAUKEE COUNTY RESEARCH PARK AND TO MANAGE THE PARK IN ACCORDANCE WITH ITS DECLARATION OF CONVENTS, CONDITIONS, RESTRICTIONS AND DESIGN GUIDELINES; AND VARIOUS DEVELOPMENT AGREEMENTS WITH PARK OCCUPANTS.
-
OPERATION OF THE TECHNOLOGY INNOVATION CENTER.
Expenses $928,464 · Grants $15,000 · Revenue $1,048,857
As filed on the 2025 return.
Listed in Part VII
-
David DullDAVID DULL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Nathaniel Cade JrNATHANIEL CADE JR
TREASURER
- Total calculated
- $0
- Hours/week
- 0.2
-
Paul GoganPAUL GOGAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Dennis McBrideDENNIS MCBRIDE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Dan BukiewiczDAN BUKIEWICZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Shawn RollandSHAWN ROLLAND
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.2
-
Keenan Grenell PhDKEENAN GRENELL PHD
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.2
-
Jeanne Hossenlopp PhDJEANNE HOSSENLOPP PHD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
John Raymond Sr MDJOHN RAYMOND SR MD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Peter SkanavisPETER SKANAVIS
CHAIR
- Total calculated
- $0
- Hours/week
- 0.2
-
Jessica SilvaggiJESSICA SILVAGGI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Mark JohnsonMARK JOHNSON
EXECUTIVE DIRECTOR
- Total calculated
- $199,934
- From this org
- $167,648
- From related orgs
- $0
- Other
- $32,286
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $167,648
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $32,286
- Filer's total
- $199,934
-
Celia BentonCELIA BENTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Thomas IrgensTHOMAS IRGENS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Phillip KingPHILLIP KING
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Kay Van HeckKAY VAN HECK
FACILITY MANAGER
- Total calculated
- $122,441
- From this org
- $105,647
- From related orgs
- $0
- Other
- $16,794
- 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. 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 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 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 3
- THE BOARD OF DIRECTORS APPROVES THE SALARY AND OTHER COMPENSATION OF THE EXECUTIVE DIRECTOR YEARLY.
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
-
$10,000
SCHOLARSHIPS
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
TECHNOLOGY INNOVATION CENTER
TO OPERATE THE TECHNOLOGY INNOVATION CENTER. · WI
Directly controlled by MILWAUKEE REGIONAL INNOVATION CENTER
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 13 May 2026
- IRS schema version
- 2025v4.1
- Source object
- 202601339349307080
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