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Nonprofiteer
← TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY

Form 990 for tax year 2024

Filed by TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY.

Totals

Total revenue
$3,938,336
Total expenses
$3,960,053
Contributions and grants received
$0
Grants paid
$100,000
Program services expenses (Part IX)
$3,328,951
Management and general expenses
$631,102
Fundraising expenses
$0
Program service expenses (Part III)
$3,328,951

Program services were 84.1% 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
    $330,934
    From this org
    $290,411
    From related orgs
    $0
    Other
    $40,523
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $245,111
    Bonus
    $30,000
    Other
    $15,300
    Deferred
    $8,864
    Nontaxable benefits
    $31,659
    Filer's total
    $330,934

  • PAUL LAMBERT - SECRETARY

    SENIOR VICE PRESIDENT

    Total calculated
    $249,330
    From this org
    $210,638
    From related orgs
    $0
    Other
    $38,692
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $160,884
    Bonus
    $32,000
    Other
    $17,754
    Deferred
    $5,457
    Nontaxable benefits
    $33,235
    Filer's total
    $249,330

  • JIM LOUWAGIE

    BOARD MEMBER/CHAIR

    Total calculated
    $5,835
    From this org
    $5,835
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • KEVIN MAAS - BOARD MEMBER

    TREASURER/SECRETARY

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

  • BRAD BENESH

    BOARD MEMBER

    Total calculated
    $1,840
    From this org
    $1,840
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • MIKE BRASS

    BOARD MEMBER

    Total calculated
    $1,665
    From this org
    $1,665
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • KATE CROW

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • JONATHAN DOLPHIN

    BOARD MEMBER

    Total calculated
    $3,480
    From this org
    $3,480
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • DEBORAH MALMBERG SMITH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • ROYCE NELLIGAN

    BOARD MEMBER

    Total calculated
    $3,515
    From this org
    $3,515
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • SHELLEY PETERSON

    BOARD MEMBER

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

  • STEVE POWELL

    BOARD MEMBER

    Total calculated
    $1,735
    From this org
    $1,735
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • MIKE SCHOLL

    BOARD MEMBER

    Total calculated
    $1,770
    From this org
    $1,770
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • LEVI SMITH

    BOARD MEMBER

    Total calculated
    $2,050
    From this org
    $2,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • BRYAN TOFT

    BOARD MEMBER

    Total calculated
    $1,665
    From this org
    $1,665
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • DAVID WASMUTH

    BOARD MEMBER

    Total calculated
    $3,620
    From this org
    $3,620
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • DENNIS WELCH

    BOARD MEMBER

    Total calculated
    $3,270
    From this org
    $3,270
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • DEBORAH GUSTAFSON - SENIOR

    LENDER/SENIOR VICE PRESIDENT

    Total calculated
    $309,697
    From this org
    $265,345
    From related orgs
    $0
    Other
    $44,352
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $206,396
    Bonus
    $40,122
    Other
    $18,827
    Deferred
    $7,015
    Nontaxable benefits
    $37,337
    Filer's total
    $309,697

  • SHEIL NELSON

    SENIOR LENDER

    Total calculated
    $270,569
    From this org
    $223,887
    From related orgs
    $0
    Other
    $46,682
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $189,464
    Bonus
    $23,434
    Other
    $10,989
    Deferred
    $6,269
    Nontaxable benefits
    $40,413
    Filer's total
    $270,569

  • MICHAEL KINNINGER

    LOAN OFFICER

    Total calculated
    $193,561
    From this org
    $166,952
    From related orgs
    $0
    Other
    $26,609
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $150,452
    Bonus
    $16,500
    Other
    $0
    Deferred
    $4,487
    Nontaxable benefits
    $22,122
    Filer's total
    $193,561

  • MELISSA MILLER

    LOAN OFFICER

    Total calculated
    $160,691
    From this org
    $153,987
    From related orgs
    $0
    Other
    $6,704
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $124,266
    Bonus
    $16,000
    Other
    $13,721
    Deferred
    $3,884
    Nontaxable benefits
    $2,820
    Filer's total
    $160,691

  • MICHAEL KINDERMAN

    LOAN OFFICER

    Total calculated
    $163,505
    From this org
    $147,826
    From related orgs
    $0
    Other
    $15,679
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $133,826
    Bonus
    $14,000
    Other
    $0
    Deferred
    $4,344
    Nontaxable benefits
    $11,335
    Filer's total
    $163,505

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 — 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 2025: PETE INGEBRAND $15,300 PAUL LAMBERT $20,028 DEBORAH GUSTAFSON $16,740 SHEIL NELSON $30,049 MELISSA MILLER $14,665 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
2024
Filed
20 January 2026
IRS schema version
2024v5.5
Source object
202610269349300136

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