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EIN 23-7129398

Milwaukee Economic Development Corporation

IRS 501(c) type
501(c)(3)
Num. employees
16
City
Milwaukee
State
Wisconsin
Year formed
1971
Most recent tax filings
2022-12-01
NTEE code, primary
S31: Urban, Community Economic Development
Description
Medc provides gap financing and grant review services for businesses to create employment opportunities and grow commercial establishments in Milwaukee and Waukesha.
Total revenues
$4,043,772
2022
Total expenses
$3,895,449
2022
Total assets
$134,203,800
2022
Num. employees
16
2022

Program areas at Milwaukee Economic Development Corporation

Lending: medc provides gap loans at below market interest rates to Milwaukee area businesses. Most times there is a partner bank which provides some of the project financing. Medc's approach to lending revolves around two fundamental principles: sharing risk with all participants in a project and provide loans where there is a gap between available debt and equity.
Medc provided grant review services to the Milwaukee Development Corporation for a program it was running for the wedc, the wi tomorrow main street bounceback grant. Medc provided services of grant review, payment processing.

Who funds Milwaukee Economic Development Corporation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Milwaukee Development CorporationTo Support Small Businesses Recovering From Covid-19 Pandemic$20,322,500

Personnel at Milwaukee Economic Development Corporation

NameTitleCompensation
David E. LatonaPresident
Diane ManclOperations Manager
Matthew LyonLoan Operations Manager
Abbey MierendorfPortfolio Manager
Delores ClaytonRelationship Manager
...and 5 more key personnel

Financials for Milwaukee Economic Development Corporation

RevenuesFYE 12/2022
Total grants, contributions, etc.$0
Program services$3,586,421
Investment income and dividends$457,351
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$4,043,772

Form 990s for Milwaukee Economic Development Corporation

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-14990View PDF
2022-122023-11-13990View PDF
2021-122022-11-14990View PDF
2020-122021-11-13990View PDF
2019-122021-04-01990View PDF
...and 10 more Form 990s
Data update history
November 2, 2024
Updated personnel
Identified 1 new personnel
May 18, 2024
Received grants
Identified 1 new grant, including a grant for $20,322,500 from Milwaukee Development Corporation
January 21, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 21, 2024
Updated personnel
Identified 2 new personnel
December 19, 2023
Updated personnel
Identified 6 new personnel
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsCharities
Issues
Community improvementEconomic development
Characteristics
State / local levelReceives government fundingTax deductible donationsAccepts online donations
General information
Address
757 N Broadway 600
Milwaukee, WI 53202
Metro area
Milwaukee-Waukesha, WI
County
Milwaukee County, WI
Website URL
medconline.com/ 
Phone
(414) 269-1440
Facebook page
milwaukee-economic-development-corporation 
IRS details
EIN
23-7129398
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1971
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent
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