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Nonprofiteer
← TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY

Form 990 for tax year 2022

Filed by TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY.

Totals

Total revenue
$3,331,044
Total expenses
$3,585,188
Contributions and grants received
$0
Grants paid
$100,000
Program service revenue
$3,232,559
Investment income
$80,937
Other revenue
$17,548
Total assets, end of year
$7,320,907
Total liabilities, end of year
$2,999,982
Net assets or fund balances, end of year
$4,320,925
Program services expenses (Part IX)
$2,995,391
Management and general expenses
$589,797
Fundraising expenses
$0
Program service expenses (Part III)
$2,995,391

Program services were 83.5% 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
    $372,594
    From this org
    $330,282
    From related orgs
    $0
    Other
    $42,312
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $225,909
    Bonus
    $67,250
    Other
    $37,123
    Deferred
    $8,864
    Nontaxable benefits
    $33,448
    Filer's total
    $372,594

  • DENNIS WELCH

    BOARD MEMBER/CHAIR

    Total calculated
    $6,290
    From this org
    $6,290
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • JIM LOUWAGIE

    BOARD MEMBER/VICE CHAIR

    Total calculated
    $4,965
    From this org
    $4,965
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • KEVIN MAAS

    BOARD MEMBER/TREASURER

    Total calculated
    $4,545
    From this org
    $4,545
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • DAVID WASMUTH

    BOARD MEMBER

    Total calculated
    $5,260
    From this org
    $5,260
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • ROYCE NELLIGAN

    BOARD MEMBER

    Total calculated
    $3,830
    From this org
    $3,830
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • BRUCE HALBASCH

    BOARD MEMBER

    Total calculated
    $2,260
    From this org
    $2,260
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • MIKE BRASS

    BOARD MEMBER

    Total calculated
    $2,085
    From this org
    $2,085
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • JONATHAN DOLPHIN

    BOARD MEMBER

    Total calculated
    $2,295
    From this org
    $2,295
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • ROBERT HECK

    BOARD MEMBER

    Total calculated
    $2,190
    From this org
    $2,190
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • LEONARD KIRSCHT

    BOARD MEMBER

    Total calculated
    $2,470
    From this org
    $2,470
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • CAROL MALONEY

    BOARD MEMBER

    Total calculated
    $2,260
    From this org
    $2,260
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • AL MADSEN

    BOARD MEMBER

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

  • SHELLEY PETERSON

    BOARD MEMBER

    Total calculated
    $2,225
    From this org
    $2,225
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • LEVI SMITH

    BOARD MEMBER

    Total calculated
    $2,260
    From this org
    $2,260
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • BRYAN TOFT

    BOARD MEMBER

    Total calculated
    $2,295
    From this org
    $2,295
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • PAUL LAMBERT

    SECRETARY/VICE PRESIDENT

    Total calculated
    $235,002
    From this org
    $201,071
    From related orgs
    $0
    Other
    $33,931
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $147,294
    Bonus
    $33,311
    Other
    $20,466
    Deferred
    $5,457
    Nontaxable benefits
    $28,474
    Filer's total
    $235,002

  • DEBORAH GUSTAFSON

    SENIOR LENDER/VP

    Total calculated
    $281,697
    From this org
    $243,268
    From related orgs
    $0
    Other
    $38,429
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $189,742
    Bonus
    $41,794
    Other
    $11,732
    Deferred
    $7,015
    Nontaxable benefits
    $31,414
    Filer's total
    $281,697

  • SHEIL NELSON

    SENIOR LENDER

    Total calculated
    $255,707
    From this org
    $215,192
    From related orgs
    $0
    Other
    $40,515
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $174,289
    Bonus
    $29,914
    Other
    $10,989
    Deferred
    $6,269
    Nontaxable benefits
    $34,246
    Filer's total
    $255,707

  • MELISSA MILLER

    LOAN OFFICER

    Total calculated
    $148,527
    From this org
    $142,167
    From related orgs
    $0
    Other
    $6,360
    Hours/week
    45

  • MICHAEL KINDERMAN

    LOAN OFFICER

    Total calculated
    $158,324
    From this org
    $144,147
    From related orgs
    $0
    Other
    $14,177
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $121,797
    Bonus
    $22,350
    Other
    $0
    Deferred
    $4,344
    Nontaxable benefits
    $9,833
    Filer's total
    $158,324

  • TERRIE ORLOFF

    LOAN OFFICER

    Total calculated
    $152,876
    From this org
    $134,819
    From related orgs
    $0
    Other
    $18,057
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $110,919
    Bonus
    $23,900
    Other
    $0
    Deferred
    $4,094
    Nontaxable benefits
    $13,963
    Filer's total
    $152,876

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 2023: PETE INGEBRAND $36,283 PAUL LAMBERT $12,113 DEBORAH GUSTAFSON $17,998 SHEIL NELSON $10,989 MELISSA MILLER $16,855 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
2022
Filed
19 January 2024
IRS schema version
2022v5.0
Source object
202410229349300866

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

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