LAKE AREA IMPROVEMENT CORPORATION

As filed

Subsection

03

NTEE code

S30Z

Classification

1000

Street

PO BOX 32

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Mission and programs · 2025

• IN 2025, MADISON AREA DEVELOPMENT CORPORATION (FORMERLY LAKE AREA IMPROVEMENT CORPORATION) CONTINUED ITS MISSION OF ADVANCING ECONOMIC DEVELOPMENT THROUGHOUT MADISON AND THE SURROUNDING REGION. A SIGNIFICANT MILESTONE WAS THE COMPLETION OF THE MADISON EARLY LEARNING CENTER, A 4.5 MILLION COMMUNITY INVESTMENT DEVELOPED IN PARTNERSHIP WITH EMBE TO HELP ADDRESS THE AREA'S CRITICAL CHILDCARE SHORTAGE. THE CENTER WELCOMED ITS FIRST FAMILIES AND BEGAN PROVIDING HIGH-QUALITY EARLY LEARNING OPPORTUNITIES, STRENGTHENING THE LOCAL WORKFORCE AND SUPPORTING LONG-TERM ECONOMIC GROWTH. MADC ALSO COMPLETED THE EXPANSION OF THE LAKEVIEW INDUSTRIAL PARK, ADDING APPROXIMATELY 50 ACRES OF SHOVEL-READY INDUSTRIAL LAND WITH NEW STREETS AND INFRASTRUCTURE TO SUPPORT FUTURE BUSINESS INVESTMENT AND JOB CREATION. THE ORGANIZATION ALSO INTRODUCED A NEW SOCIAL TO LEARN APPROACH TO ITS ENGLISH LANGUAGE LEARNING (ELL) PROGRAM IN PARTNERSHIP WITH THE MADISON PUBLIC LIBRARY. THIS COMMUNITY-BASED MODEL CREATES OPPORTUNITIES FOR PARTICIPANTS TO BUILD ENGLISH LANGUAGE SKILLS THROUGH CONVERSATION, RELATIONSHIP-BUILDING, AND REAL-WORLD INTERACTIONS, HELPING STRENGTHEN WORKFORCE INTEGRATION AND COMMUNITY CONNECTIONS. THE RELENDING PROGRAM CONTINUES TO PROVIDE FINANCING ASSISTANCE TO BUSINESSES, SUPPORTING BUSINESS EXPANSION, RETENTION, JOB CREATION, AND LONG-TERM ECONOMIC VITALITY THROUGHOUT THE REGION.

  Expenses $491,911 · Revenue $88,451

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Officers and directors · 2025

As listed in Part VII of the 2025 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

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. Earlier years are each on their own filing page.

Filings

• 2025

  Revenue

  $1,881,427

  Expenses

  $7,990,274

  Contributions

  $1,593,202

  Grants paid

  $0

• 2023

  Revenue

  $1,155,045

  Expenses

  $491,575

  Contributions

  $571,543

  Grants paid

  $56,818

• 2022

  Revenue

  $1,415,608

  Expenses

  $419,270

  Contributions

  $1,169,104

  Grants paid

  $22,500

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

• 2021 · 990

  Revenue

  $1,027,116

  Expenses

  $400,585

  Assets (EOY)

  $11,953,132

• 2020 · 990

  Revenue

  $482,303

  Expenses

  $330,279

  Assets (EOY)

  $11,324,797

• 2019 · 990

  Revenue

  $470,287

  Expenses

  $243,524

  Assets (EOY)

  $11,557,104

• 2018 · 990

  Revenue

  -$145,438

  Expenses

  $334,397

  Assets (EOY)

  $11,355,267

• 2017 · 990

  Revenue

  $600,742

  Expenses

  $546,622

  Assets (EOY)

  $5,711,086

• 2016 · 990

  Revenue

  $1,283,569

  Expenses

  $782,426

  Assets (EOY)

  $5,469,649

• 2014 · 990

  Revenue

  $538,186

  Expenses

  $560,207

  Assets (EOY)

  $5,716,975

• 2013 · 990

  Revenue

  $838,900

  Expenses

  $747,093

  Assets (EOY)

  $6,004,474

• 2012 · 990

  Revenue

  — not reported

  Expenses

  $557,081

  Assets (EOY)

  $6,133,304

• 2011 · 990

  Revenue

  — not reported

  Expenses

  $757,727

  Assets (EOY)

  $4,989,233

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all. Showing the 10 most recent; the API carries the rest.

Grants made

• DAKOTA STATE UNIVERSITY

  $22,500

  2022 · SUPPORT PROGRAMS

• DAKOTA STATE UNIVERSITY

  $22,500

  2023 · SUPPORT PROGRAMS

Where these grants went next →

Grants received

• MADISON COMMUNITY HOSPITAL

  $62,500

  2024 · GENERAL SUPPORT

• MADISON COMMUNITY HOSPITAL

  $12,500

  2023 · GENERAL SUPPORT

• MADISON COMMUNITY HOSPITAL

  $12,500

  2022 · GENERAL SUPPORT

• EAST RIVER ELECTRIC POWER COOPERATIVE INC

  $10,000

  2023 · ECONOMIC DEVELOPMENT

• EAST RIVER ELECTRIC POWER COOPERATIVE INC

  $10,000

  2022 · ECONOMIC DEVELOPMENT

• EAST RIVER ELECTRIC POWER COOPERATIVE INC

  $0

  2024 · ECONOMIC DEVELOPMENT

Other IRS files