2024-11-13T10:31:51-06:00 2023-12-31 390758449 WIPFLI LLP 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2023-01-01 260425048 COMMUNITY PROPERTY INC COMM 7154233863 478 EAST GRAND AVE 200 WISCONSIN RAPIDS WI 544944852 DAWN NEUMAN TREASURER 7154233863 2024-11-07 1 1 JESSICA NATUS P01799381 2187224705 2024-11-07 2023 2024-10-15 13:58:12Z DALE BIKOWSKI 478 EAST GRAND AVE 200 WISCONSIN RAPIDS WI 544944852 130791 0 X N/A X 2007 WI COMMUNITY PROPERTY, INC. IS ORGANIZED, AND AT ALL TIMES IS OPERATED, EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF INCOURAGE COMMUNITY FOUNDATION, INC., A 501(C)(3) NONPROFIT COMMUNITY FOUNDATION WHICH IS A VALUES-LED, USER-CENTERED, PLACE-BASED PHILANTHROPIC AND COMMUNITY BUILDING ORGANIZATION. IT WAS PRINCIPALLY FORMED TO ACQUIRE, ACCEPT, HOLD, LEASE, MANAGE, ADMINISTER AND/OR LIQUIDATE IN AN ORDERLY FASHION, DONATIONS, BEQUESTS AND PROPERTY FOR THE BENEFIT AND/OR PURPOSES OF INCOURAGE. 3 3 0 4 70991 0 50000 55000 75232 75791 0 0 0 0 125232 130791 0 0 0 0 0 0 0 0 0 156074 162638 156074 162638 -30842 -31847 2685636 2686748 2632725 2665684 52911 21064 X COMMUNITY PROPERTY, INC. IS ORGANIZED, AND AT ALL TIMES IS OPERATED, EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF INCOURAGE COMMUNITY FOUNDATION, INC., A 501(C)(3) NONPROFIT COMMUNITY FOUNDATION WHICH IS A VALUES-LED, USER-CENTERED, PLACE-BASED PHILANTHROPIC AND COMMUNITY BUILDING ORGANIZATION. IT WAS PRINCIPALLY FORMED TO ACQUIRE, ACCEPT, HOLD, LEASE, MANAGE, ADMINISTER AND/OR LIQUIDATE IN AN ORDERLY FASHION, DONATIONS, BEQUESTS AND PROPERTY FOR THE BENEFIT AND/OR PURPOSES OF INCOURAGE. 0 0 82669 0 4800 ACQUIRING, ACCEPTING, HOLDING, LEASING, MANAGING, ADMINISTERING AND/OR LIQUIDATING IN AN ORDERLY FASHION, DONATIONS, BEQUESTS AND PROPERTY FOR THE BENEFIT AND/OR PURPOSES OF INCOURAGE COMMUNITY FOUNDATION, INC. COMMUNITY PROPERTY CURRENTLY OWNS AN OFFICE BUILDING AT 478 AND 480 EAST GRAND AVENUE IN WISCONSIN RAPIDS, THAT IT RENTS IN PART TO INCOURAGE, AND IN PART TO THREE THIRD-PARTY LOCAL BUSINESSES. 76129 0 0 IN A COORDINATED EFFORT WITH ITS SUPPORTED ORGANIZATION, INCOURAGE COMMUNITY FOUNDATION ("INCOURAGE"), COMMUNITY PROPERTY ACQUIRED THE FORMER DAILY TRIBUNE NEWSPAPER AND WFHR RADIO BUILDING, A HISTORIC LOCAL MID-CENTURY PROPERTY LOCATED ON THE BANKS OF THE WISCONSIN RIVER IN DOWNTOWN WISCONSIN RAPIDS, WISCONSIN, IN DECEMBER OF 2012. THE REDEVELOPMENT OF THE PROPERTY (THE "TRIBUNE") IS BEING INFORMED BY INCOURAGE'S COMMITMENT TO PLACE-BASED INVESTING AND USER-CENTERED DECISION MAKING FOR SOUTHERN WOOD COUNTY'S FUTURE, WHEREBY INCOURAGE HAS ENGAGED OVER 2,000 RESIDENTS IN THE PLANNING AND DECISION-MAKING PROCESS SO FAR. THE TRIBUNE IS BEING DESIGNED TO REFLECT RESIDENT PRIORITIES AND CAPITALIZE ON COMMUNITY AND REGIONAL ASSETS. FROM THE BEGINNING, THE TRIBUNE HAS BEEN ABOUT MUCH MORE THAN REDEVELOPING A BUILDING. IT IS A DEMONSTRATION OF A USER-CENTERED PROCESS TOWARD REALIZING INCOURAGE'S VISION OF PARTNERING WITH RESIDENTS, BUSINESSES, AND CIVIC LEADERS IN RURAL CENTRAL WISCONSIN TO CO-CREATE AN INCLUSIVE, ADAPTIVE, AND SUSTAINABLE COMMUNITY THAT WORKS WELL FOR ALL PEOPLE. THE REDEVELOPED FACILITY WILL BE AN ECONOMIC AND COMMUNITY HUB TO SERVE AS A LABORATORY FOR INNOVATION FOR SOUTHERN WOOD COUNTY AND CENTRAL WISCONSIN WITH A PARTICULAR FOCUS ON THE NEEDS OF RURAL COMMUNITIES. IT WILL SERVE AS A HUB FOR ENTREPRENEURIAL AND SMALL BUSINESS ACTIVITY, A FOCAL POINT OF REGIONAL COLLABORATION AND INNOVATION, AND A DYNAMIC COMMUNITY PLACE FOR WORK, PLAY, AND COMMERCE. AS A RECAP OF THE MULTI-YEAR JOURNEY SO FAR, PHASE ONE IN 2013 AND 2014, CONSISTED OF FOUR PUBLIC MEETINGS WHERE EVERYONE IN THE COMMUNITY WAS INVITED TO SHARE THEIR IDEAS FOR THE FUTURE USE OF THE SPACE, INCLUDING ENCOURAGING RESIDENTS TO SHIFT THEIR THINKING FROM "ME" TO "WE." PHASE TWO IN 2014, CONSISTED OF SEVEN PUBLIC MEETINGS WHEREBY THE COMMUNITY WAS INVITED TO PARTICIPATE IN ACTIVITIES RELATED TO THE POTENTIAL DESIGN AND SUSTAINABILITY OF THE FACILITY. PHASE THREE IN 2015 AND 2016, CONSISTED OF TEN PUBLIC MEETINGS IN WHICH PARTICIPANTS FOCUSED ON DEEPENING RELATIONSHIPS, FURTHER DEFINING POTENTIAL PROGRAMMING WITHIN THE FACILITY, AND DEVELOPING RESIDENT-LED FUNDRAISING OPPORTUNITIES TO HELP REALIZE THE BUILDING. IN 2017 AND 2018 COMMUNITY MEMBERS EXPLORED HOW SIMILAR PROJECTS IN OTHER REGIONS DEVELOPED, AND FUNDRAISING EFFORTS AT THE STATE AND NATIONAL LEVEL EXPANDED. IN 2019, THE STATE OF WISCONSIN DEPARTMENT OF ADMINISTRATION ANNOUNCED A $3 MILLION MATCHING GRANT OPPORTUNITY FOR THE TRIBUNE'S FUTURE RECONSTRUCTION, AND INCOURAGE AND THE UNIVERSITY OF WISCONSIN-STEVENS POINT ANNOUNCED A COLLABORATION TO PROVIDE EXPERTISE FOR SUSTAINABLE ECONOMIC CHANGE IN CENTRAL WISCONSIN. DURING 2020 TO 2022 COLLABORATIONS WITH KEY STAKEHOLDERS IN REGIONAL ECONOMIC TRANSFORMATION AND GROWTH CONTINUED DESPITE THE CHALLENGES PRESENTED BY COVID INTERRUPTIONS TO BUSINESS AS USUAL. A FEASIBILITY STUDY INITIATED IN LATE 2022 AND COMPLETED IN 2023 INCLUDES PROMISING OPPORTUNITIES THAT ARE BEING ACTIVELY PURSUED. A COMPREHENSIVE BUSINESS PLAN IS BEING PREPARED BEGINNING IN EARLY 2024 IN SUPPORT OF REALIZING THE FULL POTENTIAL OF THIS IMPORTANT COMMUNITY ASSET THAT WILL PRIORITIZE END-USE IDEAS THAT WILL CELEBRATE LOCAL ASSETS, CONNECT RESIDENTS, AND ACT AS A CATALYST FOR FUTURE DOWNTOWN DEVELOPMENT. AT ITS CORE, THE TRIBUNE WILL BE A TRUE COMMUNITY SOCIAL ENTERPRISE FOCUSED ON CULTIVATING ENTREPRENEURS AND GROWING A SUSTAINABLE LOCAL ECONOMY. TO LEARN MORE, VISIT INCOURAGECF.ORG/LEAD/TRIBUNE-BUILDING AND FORM 990 FOR INCOURAGE COMMUNITY FOUNDATION, INC.SINCE ITS PURCHASE, THE PROPERTY HAS BEEN MAINTAINED IN A HOLDING PATTERN AWAITING REDEVELOPMENT AND HAS BEEN UTILIZED OCCASIONALLY FOR TOURS AND ACTIVITIES LIKE HAVING SERVED IN PRIOR YEARS AS A CENTRAL COORDINATION POINT FOR INCOURAGE'S COMMUNITY PICNIC AND HOSTING TRIBUNE "TEASERS", WHICH ARE MINI DEMONSTRATION VERSIONS OF THE TYPES OF ACTIVITIES THAT WILL ONE DAY HAPPEN AT THE FULLY REDEVELOPED TRIBUNE. IN THE LATER PART OF 2015, THE STATE OF WISCONSIN APPROVED REDEVELOPMENT PLANS FOR THE PROPERTY IMPROVEMENTS AND SELECT INTERIOR REMEDIATION AND DEMOLITION WAS UNDERTAKEN. FUND DEVELOPMENT CONTINUES TOWARD REALIZING THE COMPLETE RENOVATION OF THE PROPERTY. 158798 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 2 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 WI X DAWN NEUMAN 7154233863 478 E GRAND AVE SUITE 200 WISCONSIN RAPIDS WI 54494 DALE BIKOWSKI DIRECTOR/CHAIRMAN 1.00 1.00 X X 0 0 0 DAWN NEUMAN DIRECTOR/TREASURER 2.00 30.00 X X 0 42267 21570 KRISTIE RAUTER-EGGE DIRECTOR/SECRETARY 1.00 1.00 X X 0 0 0 0 42267 21570 0 0 0 0 0 55000 55000 RENTAL INCOME 532000 75791 4800 70991 75791 130791 4800 70991 0 3800 3800 1097 1097 52751 52751 41572 41572 44126 44126 19252 19252 FILING FEES 25 25 UNRELATED BUSINESS TAX 15 15 162638 158798 3840 0 59399 91430 16143 17201 1518750 370235 1192641 1148515 1417453 1429602 2685636 2686748 302225 336092 223500 222592 2107000 2107000 2632725 2665684 X 52911 21064 52911 21064 2685636 2686748 -31847 0 X X 0 1 X 1 0 X X X 1 INCOURAGE COMMUNITY FOUNDATION INC 391772651 8 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 281316 281316 1237434 370235 867199 1148515 CAPITAL ADDITIONS IN PROGRESS 1429602 1429602 RELATED PARTY NOTES PAYABLE 2107000 2107000 X 4843283 4772292 4772292 70991 59800 59800 130791 1455229 1333931 1333931 121298 41340 41340 162638 PART X, LINE 2: THE ORGANIZATION IS REQUIRED TO ASSESS WHETHER IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION OF THE TECHNICAL MERITS OF THE POSITION, ASSUMING THE TAXING AUTHORITY HAS FULL KNOWLEDGE OF ALL INFORMATION. IF THE TAX POSITION DOES NOT MEET THE MORE-LIKELY-THAN-NOT-RECOGNITION THRESHOLD, THE BENEFIT OF THAT POSITION IS NOT RECOGNIZED IN THE FINANCIAL STATEMENTS. THE ORGANIZATION HAS DETERMINED THERE ARE NO AMOUNTS TO RECORD AS ASSETS OR LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE RELATED TO SUPPORTED ORGANIZATION 4,772,292. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL INCOME FROM SUPPORTED ORGANIZATION TO COMMUNITY PROPERTY, INC. 4,800. GRANT FROM SUPPORTED ORGANIZATION TO COMMUNITY PROPERTY, INC. 55,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES RELATED TO SUPPORTED ORGANIZATION 1,333,931. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST OWED TO SUPPORTED ORGANIZATION 41,340. PART XI AND XII, LINE 1 THE AUDITED FINANCIAL STATEMENTS ARE CONSOLIDATED, AND ALL SUPPORTED ORGANIZATION REVENUE AND EXPENSES MUST BE ELIMINATED IN ORDER TO RECONCILE TO THE TAX RETURN. FORM 990, PART VI, SECTION A, LINE 7A THE ARTICLES OF INCORPORATION STATE "THE DIRECTORS OF THE CORPORATION WILL BE APPOINTED BY THE MEMBERS OF THE SUPPORTED ORGANIZATION, AS LONG AS SAID CORPORATION CONTINUES TO EXIST AND QUALIFY UNDER SECTIONS 501(C)(3) AND 509(A)(1) OF THE CODE". THE SUPPORTED ORGANIZATION IS INCOURAGE COMMUNITY FOUNDATION, INC. FORM 990, PART VI, SECTION B, LINE 11B UPON COMPLETION OF FORM 990 BY A THIRD PARTY ACCOUNTING FIRM (ACCOMPLISHED WITH SIGNIFICANT INPUT FROM A VARIETY OF STAFF MEMBERS) THE CHIEF FINANCIAL OFFICER SHARES THE FINAL FORM 990 DRAFT WITH EACH BOARD MEMBER AND CERTAIN STAFF MEMBERS PRIOR TO FILING, SEEKING THEIR REVIEW AND COMMENTS ON THE DRAFT. ANY COMMENTS RECEIVED ARE REVIEWED FOR WHETHER AN ADJUSTMENT NEEDS TO BE MADE TO THE FILING. AFTER ALL COMMENTS ARE CLEARED, THE FINAL FORM 990 IS POSTED FOR ALL BOARD MEMBERS AND CERTAIN STAFF MEMBERS, NOTING ANY SIGNIFICANT ADJUSTMENTS MADE AS A RESULT OF THEIR REVIEW, AND THE FINAL FORM 990 IS SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST DISCLOSURE FORMS ARE COMPLETED BY THE BOARD OF DIRECTORS IN CONJUNCTION WITH THE ANNUAL PROCESS FOR THE SUPPORTED ORGANIZATION. WHEN POTENTIAL CONFLICTS OF INTEREST ARISE, THE CONFLICTED PERSON IS ALLOWED AN INITIAL OPPORTUNITY FOR INPUT TO THE DISCUSSION WITH FINAL DISCUSSIONS AND VOTING, IF ANY, DONE WITHOUT THEIR INPUT. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST AT COMMUNITY PROPERTY, INC., C/O INCOURAGE COMMUNITY FOUNDATION, INC. ATTENTION: FINANCE, 478 EAST GRAND AVENUE, SUITE 200, WISCONSIN RAPIDS, WI 54494, OR BY EMAIL REQUEST TO HELLO@INCOURAGECF.ORG TO THE ATTENTION OF FINANCE. FORM 990, PART XII, LINE 2C THE FULL BOARD OF THE SUPPORTED ORGANIZATION FULFILLS THESE RESPONSIBILITIES WITH RESPECT TO THE AUDITED, CONSOLIDATED FINANCIAL STATEMENTS. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. INCOURAGE COMMUNITY FOUNDATION INC 478 EAST GRAND AVENUE SUITE 200 WISCONSIN RAPIDS WI 54494 391772651 VALUES-LED, PLACE-BASED PHILANTHROPIC & COMMUNITY BUILDING ORGANIZATION WI 501(C)(3) LINE 8 N/A 0 0 0 1 0 1 0 0 0 0 1 0 0 1 1 0 1 0 0 0 INCOURAGE COMMUNITY FOUNDATION INC E 2107000 FACE VALUE OF PROMISSORY NOTES INCOURAGE COMMUNITY FOUNDATION INC E 222592 CURRENT AMOUNT OF LOAN GUARANTEE INCOURAGE COMMUNITY FOUNDATION INC E 333070 TOTAL ACCRUED INTEREST PROM NOTES INCOURAGE COMMUNITY FOUNDATION INC C 55000 GRANT AMOUNT RECEIVED