NEW ULM ECONOMIC DEVELOPMENT CORPORATION

Address
1 NORTH MINNESOTA - PO BOX 384
NEW ULM, MN 560730384
Contact
Phone: +1 (507) 233-4305
Nonprofit
NTEE: S30 - Economic Development
EIN: 41-1826572

Mission

TO ACT AS A CATALYST FOR PROMOTION OF THE ECONOMIC WELL-BEING OF NEW ULM, MINNESOTA.
 20172016201520142013
Basic features of the organization
Year of formation1995
Subsection code04
PF filing required0    
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Sum of reportable (W2/1099) compensation$0.00$0.00$0.00$0.00$0.00
Number of employees11111
Number of people compensated >$100k00000
Number of volunteers1111111111
Number of highly compensated contractors00000
Personnel
Baumgartner, Julie
TitleBOARD MEMBERPRESIDENTPRESIDENTPRESIDENTPRESIDENT
Name of key/compensated personJULIE BAUMGARTNERJULIE BAUMGARTNERJULIE BAUMGARTNERJULIE BAUMGARTNERJULIE BAUMGARTNER
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Current officer TrueTrueTrueTrue
Average hours per week working for org1.001.501.501.501.50
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Braam, Daniel
TitleBOARD MEMBER    
Name of key/compensated personDANIEL BRAAM    
Position of compensated person
Current individual trustee or directorTrue    
Average hours per week working for org1.00    
Reportable compensation from org$0.00    
Other comp, non-reportable, from org and related orgs$0.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Christiansen, Rick
TitleBOARD MEMBERSECRETARY   
Name of key/compensated personRICK CHRISTIANSENRICK CHRISTIANSEN   
Position of compensated person
Current individual trustee or directorTrueTrue   
Current officer True   
Average hours per week working for org1.001.50   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Cross, Dustan
TitleBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBER
Name of key/compensated personDUSTAN CROSSDUSTAN CROSSDUSTAN CROSSDUSTAN CROSSDUSTAN CROSS
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Average hours per week working for org1.001.001.001.001.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Dittrich, Jeff
TitlePRESIDENTBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBER
Name of key/compensated personJEFF DITTRICHJEFF DITTRICHJEFF DITTRICHJEFF DITTRICHJEFF DITTRICH
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Current officerTrue    
Average hours per week working for org1.501.001.001.001.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Guggisberg, Peter
Title   BOARD MEMBERBOARD MEMBER
Name of key/compensated person   PETER GUGGISBERGPETER GUGGISBERG
Position of compensated person
Current individual trustee or director   TrueTrue
Average hours per week working for org   1.001.00
Reportable compensation from org   $0.00$0.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Hillesheim, Shannon
TitleVICE CHAIRBOARD MEMBERBOARD MEMBER  
Name of key/compensated personSHANNON HILLESHEIMSHANNON HILLESHEIMSHANNON HILLESHEIM  
Position of compensated person
Current individual trustee or directorTrueTrueTrue  
Current officerTrue    
Average hours per week working for org1.501.001.00  
Reportable compensation from org$0.00$0.00$0.00  
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00  
Kauffman, Jerry
Title BOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBER
Name of key/compensated person JERRY KAUFFMANJERRY KAUFFMANJERRY KAUFFMANJERRY KAUFFMAN
Position of compensated person
Current individual trustee or director TrueTrueTrueTrue
Average hours per week working for org 1.001.001.001.00
Reportable compensation from org $0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
Laraway, Dean
TitleSECRETARYBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBER
Name of key/compensated personDEAN LARAWAYDEAN LARAWAYDEAN LARAWAYDEAN LARAWAYDEAN LARAWAY
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Current officerTrue    
Average hours per week working for org1.001.001.001.001.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Lieb, Mike
TitleTREASURERTREASURERTREASURERTREASURERTREASURER
Name of key/compensated personMIKE LIEBMIKE LIEBMIKE LIEBMIKE LIEBMIKE LIEB
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Current officerTrueTrueTrueTrueTrue
Average hours per week working for org1.501.501.501.501.50
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Meyer, Cheryl
Title  SECRETARYSECRETARYSECRETARY
Name of key/compensated person  CHERYL MEYERCHERYL MEYERCHERYL MEYER
Position of compensated person
Current individual trustee or director  TrueTrueTrue
Current officer  TrueTrueTrue
Average hours per week working for org  1.501.501.50
Reportable compensation from org  $0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs  $0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00$0.00$0.00
Petersen, Mark
TitleBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBER
Name of key/compensated personMARK PETERSENMARK PETERSENMARK PETERSENMARK PETERSENMARK PETERSEN
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Average hours per week working for org1.001.001.001.001.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Schroeder, Randy
TitleBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBER
Name of key/compensated personRANDY SCHROEDERRANDY SCHROEDERRANDY SCHROEDERRANDY SCHROEDERRANDY SCHROEDER
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Average hours per week working for org1.001.001.001.001.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Steinke, Bill
Title VICE PRESIDENTVICE PRESIDENTVICE PRESIDENTVICE PRESIDENT
Name of key/compensated person BILL STEINKEBILL STEINKEBILL STEINKEBILL STEINKE
Position of compensated person
Current individual trustee or director TrueTrueTrueTrue
Current officer TrueTrueTrueTrue
Average hours per week working for org 1.501.501.501.50
Reportable compensation from org $0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
Swan, William
TitleBOARD MEMBER    
Name of key/compensated personWILLIAM SWAN    
Position of compensated person
Current individual trustee or directorTrue    
Average hours per week working for org1.00    
Reportable compensation from org$0.00    
Other comp, non-reportable, from org and related orgs$0.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Purpose: mission, activities, & accomplishments
Mission or significant activitiesTO ACT AS A CATALYST FOR PROMOTION OF THE ECONOMIC WELL-BEING OF NEW ULM, MINNESOTA.TO ACT AS A CATALYST FOR PROMOTION OF THE ECONOMIC WELL-BEING OF NEW ULM, MINNESOTA.TO ACT AS A CATALYST FOR PROMOTION OF THE ECONOMIC WELL-BEING OF NEW ULM, MINNESOTA.TO ACT AS A CATALYST FOR PROMOTION OF THE ECONOMIC WELL-BEING OF NEW ULM, MINNESOTA.TO ACT AS A CATALYST FOR PROMOTION OF THE ECONOMIC WELL-BEING OF NEW ULM, MINNESOTA.
Program service expenses, total$93,444.00$90,969.00$91,073.00$90,773.00$88,413.00
Programs, including revenue & expenses
STIMULATE LOCAL BUSINESS RETENTION AND EXPANSION AND INSURE A FAVORABLE ECONOMIC CLIMATE FOR NEW IDEAS AND ECONOMIC GROWTH.
Program expenses$93,444.00$90,969.00$91,073.00$90,773.00$88,413.00
Program descriptionSTIMULATE LOCAL BUSINESS RETENTION AND EXPANSION AND INSURE A FAVORABLE ECONOMIC CLIMATE FOR NEW IDEAS AND ECONOMIC GROWTH.STIMULATE LOCAL BUSINESS RETENTION AND EXPANSION AND INSURE A FAVORABLE ECONOMIC CLIMATE FOR NEW IDEAS AND ECONOMIC GROWTH.STIMULATE LOCAL BUSINESS RETENTION AND EXPANSION AND INSURE A FAVORABLE ECONOMIC CLIMATE FOR NEW IDEAS AND ECONOMIC GROWTH.STIMULATE LOCAL BUSINESS RETENTION AND EXPANSION AND INSURE A FAVORABLE ECONOMIC CLIMATE FOR NEW IDEAS AND ECONOMIC GROWTH.STIMULATE LOCAL BUSINESS RETENTION AND EXPANSION AND INSURE A FAVORABLE ECONOMIC CLIMATE FOR NEW IDEAS AND ECONOMIC GROWTH.
Financial data
Revenue
Total revenue$125,380.00$114,124.00$102,519.00$99,763.00$95,594.00
Revenue from contributions (total)$100,000.00$98,961.00$92,753.00$90,336.00$86,486.00
Investment income, current yr$19,370.00$11,336.00$5,939.00$5,600.00$5,733.00
Total revenue from grants, etc., current yr$100,000.00$98,961.00$92,753.00$90,336.00$86,486.00
Total unrelated business revenue$0.00$0.00$0.00$0.00$0.00
Other revenue, current yr$6,010.00$3,827.00$3,827.00$3,827.00$3,375.00
Net unrelated business taxable revenue$0.00$0.00$0.00$0.00$0.00
Program service revenue (total)  $0.00$0.00$0.00
Gross receipts$172,822.00$214,124.00$102,519.00$99,763.00$95,594.00
Sources of contributions
Revenue from gov't grants$100,000.00$98,961.00$92,753.00$90,336.00$86,486.00
Other types of revenue
Miscellaneous revenue (total)$2,183.00    
Income from dividends, interest, and similar investments$18,855.00$5,336.00$5,939.00$5,600.00$5,733.00
Net rental income$3,827.00$3,827.00$3,827.00$3,827.00$3,375.00
Expense categories (totals)
Total functional expenses: sum of all$125,866.00$125,098.00$123,227.00$121,284.00$125,842.00
Total functional expenses: program service $93,444.00$90,969.00$91,073.00$90,773.00$88,413.00
Total functional expenses: management and general$32,422.00$34,129.00$32,154.00$30,511.00$37,429.00
Total functional expenses: fundraising$0.00$0.00$0.00$0.00$0.00
Fees for services
Fundraising service fees (total)$0.00$0.00$0.00$0.00$0.00
Assets and liabilities
Total assets$1,944,180.00$1,911,416.00$1,894,545.00$1,915,243.00$1,938,410.00
Total assets, beginning of year$1,911,416.00$1,894,545.00$1,915,243.00$1,938,410.00$1,969,801.00
Total liabilities$2,690.00$2,658.00$2,618.00$2,608.00$4,254.00
Total liabilities, beginning of year$2,658.00$2,618.00$2,608.00$4,254.00$5,397.00
Net assets$1,941,490.00$1,908,758.00$1,891,927.00$1,912,635.00$1,934,156.00
Net assets, beginning of year$1,908,758.00$1,891,927.00$1,912,635.00$1,934,156.00$1,964,404.00
Other assets$3,514.00$2,103.00$1,760.00$2,514.00$1,031.00
Investments: publicly traded securities$578,859.00$529,242.00   
Cash: non-interest bearing$13,102.00$12,823.00$7,446.00$4,928.00$6,330.00
Cash: non-interest bearing, beginning of year$12,823.00$7,446.00$4,928.00$6,330.00$11,398.00
Other financial variables
Revenue less expenses-$486.00-$10,974.00-$20,708.00-$21,521.00-$30,248.00
Advertising (total)$6,163.00$7,296.00$3,864.00$4,317.00$4,230.00
Savings & temp cash investment$568,490.00$586,898.00$1,004,854.00$1,027,091.00$1,049,964.00
Accounts payable & accrued expenses$2,690.00$2,658.00$2,618.00$2,608.00$4,254.00
Total net assets or fund balances$1,941,490.00$1,908,758.00$1,891,927.00$1,912,635.00$1,934,156.00
Depreciation, depletion, amortization$135.00$135.00$225.00$375.00$234.00
Governance and accountability
Number of voting members1111111111
Number of independent voting members1111111111
Accrual accountingTrueTrueTrueTrueTrue
Tax year start date2017-01-012016-01-012015-01-012014-01-012013-01-01
Tax year end date2017-12-012016-12-012015-12-012014-12-012013-12-01
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990990990990
Date e-filing submitted2018-09-282017-10-252016-12-132015-09-182014-10-22
IRS schema version2017v2.32016v3.02015v2.12014v5.02013v3.0
Filing identifier201801999349300705201702369349300305201602229349301515201542259349301999201432269349304268
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