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EIN 36-3414363

Rochester Area Economic Development (RAEDI)

IRS 501(c) type
501(c)(6)
Num. employees
7
City
Rochester
State
Minnesota
Year formed
1986
Most recent tax filings
2022-12-01
NTEE code, primary
S40: Business and Industry
Description
Rochester, Minnesota, the state's third-largest city, has been frequently recognized by Money Magazine. To attract, retain, grown and diversify, the business economy within the Rochester Area.
Total revenues
$925,215
2022
Total expenses
$1,287,835
2022
Total assets
$4,399,928
2022
Num. employees
7
2022

Program areas at RAEDI

Promote and facilitate businesses considering Rochester msa as a place to do business.
Invest in companies who help grow and diversify the Economic base.
Operate the business accelerator program.

Personnel at RAEDI

NameTitleCompensation
Molly SchmidtDirector of Marketing and Communications
John WadeBoard President$175,000
Jarret JonesSecretary and Treasurer / Director$0
John BeattyPast Chair / Vice Chair / Secretary and Treasurer / Director$0
Adam BenikeVice Chair / Secretary and Treasurer / Director$0
...and 4 more key personnel

Financials for RAEDI

RevenuesFYE 12/2022
Total grants, contributions, etc.$602,861
Program services$278,073
Investment income and dividends$34,862
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$10,143
Net gain from sale of non-inventory assets$-724
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$925,215

Form 990s for RAEDI

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-14990View PDF
2021-122022-11-15990View PDF
2020-122021-09-28990View PDF
2019-122021-06-08990View PDF
2018-122019-10-12990View PDF
...and 9 more Form 990s
Data update history
January 22, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 22, 2024
Updated personnel
Identified 5 new personnel
July 29, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 29, 2023
Posted financials
Added Form 990 for fiscal year 2020
June 28, 2023
Updated personnel
Identified 3 new personnel
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsHeadquarter / parent organizations
Issues
Economic developmentBusiness and industry
Characteristics
MembershipsState / local levelReceives government funding
General information
Address
221 First Ave SW Suite 600
Rochester, MN 55902
Metro area
Rochester, MN
Website URL
raedi.com/ 
Phone
(507) 288-0208
Facebook page
Rochester-Area-Economic-Development-Inc-RAEDI 
IRS details
EIN
36-3414363
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1986
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
S40: Business and Industry
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Central organization
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