2024-11-08T10:51:14-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 2689 COMMERCE DRIVE NW SUITE 201 ROCHESTER MN 55901 990 2023-01-01 237276266 DEVELOPMENT CORPORATION OF AUSTIN DEVE 5074339495 329 NORTH MAIN STREET SUITE 106L AUSTIN MN 55912 JOHN GARRY PRESIDENT/CEO 5074339495 2024-11-07 1 1 KATHERINE LUTZKE CPA P01760889 5072802300 2024-11-07 2023 2024-10-15 13:58:12Z JOHN GARRY 329 NORTH MAIN STREET SUITE 106L AUSTIN MN 55912 507725 0 X WWW.AUSTINDCA.ORG X 1986 MN SUPPORT NEW/EXISTING INDUSTRIAL/COMMERCIAL ENTERPRISES FOR THE BETTERMENT OF MOWER COUNTY 24 24 3 30 0 0 134130 132373 348532 348201 22481 27151 0 0 505143 507725 0 0 0 0 183534 180968 0 0 0 251362 378307 434896 559275 70247 -51550 5288985 4988067 3772147 3507153 1516838 1480914 X TO AGGRESSIVELY SUPPORT NEW OR EXISTING INDUSTRIAL AND OTHER COMMERCIAL ENTERPRISES FOR THE ECONOMIC BETTERMENT OF AUSTIN AND MOWER COUNTY. 1 0 DCA'S SMALL BUSINESS DEVELOPMENT CENTER (SBDC) SATELLITE OFFICE PROVIDES PROFESSIONAL BUSINESS ADVICE AT NO COST TO THE CLIENT IN SUCH AREAS AS: ACCESS TO CAPITAL AND LOAN PACKAGING; FINANCIAL ANALYSIS AND ASSESSMENT; ACCOUNTING SYSTEMS AND LITERACY; MARKETING AND RESEARCH; MARKETING PLAN DEVELOPMENT; FEASIBILITY ANALYSIS; STARTUP ASSISTANCEBUSINESS PLAN DEVELOPMENT; ELECTRONIC COMMERCE/WEB SITE DEVELOPMENT, SUCCESSION AND STRATEGIC PLANNING. DCA SUPPORTING ORGANIZATION, AUSTIN COMMUNITY GROWTH VENTURES, OPERATES LAUNCH (CO-OFFICING SPACE) AND STARTUP FACTORY (INTENSIVE BUSINESS DEVELOPMENT SUPPORT AND COMMERCIALIZATION GUIDANCE).DCA SUPPORTING ORGANIZATION, AUSTIN COMMUNITY CHARITABLE FUND, SUPPORTS AUSTIN AREA MINORITY BUSINESS PROJECT. THIS PROJECT PROVIDES COMPREHENSIVE ECONOMIC DEVELOPMENT LEGAL SERVICES TO IMMIGRANT AND MINORITY BUSINESS OWNERS AND EMPLOYEES IN THE AREA OF AUSTIN, MINNESOTA. COMPREHENSIVE SERVICES UNDER THIS PROJECT PROVIDE BUSINESS TECHNICAL LEGAL SUPPORT AND EDUCATION, IMMIGRATION LEGAL SERVICES, HOLISTIC PRO BONO LEGAL SERVICES, AND LONGITUDINAL, HOLISTIC EVALUATION AND OUTCOME ANALYSIS. PARTNERS PROVIDING THESE SERVICES ARE THE DEVELOPMENT CORPORATION OF AUSTIN, IMMIGRANT LAW CENTER OF MINNESOTA, THE BALLARD SPAHR PRO BONO TEAM, AND HISPANIC ADVOCACY AND COMMUNITY EMPOWERMENT THROUGH RESEARCH, WHOSE SERVICES OCCUPY DISTINCT PROJECT ROLES.DCA SUPPORTING ORGANIZATION AUSTIN COMMUNITY CHARITABLE FUND SUPPORTS COMMUNITY DEVELOPMENT AND QUALITY OF LIFE PROJECTS THROUGH IMPACT AUSTIN. IMPACT AUSTIN WILL ENSURE DIVERSE COMMUNITY INVOLVEMENT IN THE CITY OF AUSTIN'S AND MOWER COUNTY'S COMPREHENSIVE PLAN IN 2024-2025. THE PURPOSE OF THE FORGIVABLE LOAN PROGRAM WILL BE TO PROVIDE FOR THE PROMOTION AND CONTINUATION OF EXISTING LIFESTYLE BUSINESSES WITHIN MOWER COUNTY. MOST OF THESE BUSINESSES ARE OWNED AND OPERATED BY ONE INDIVIDUAL OR A FAMILY. THE FORGIVABLE LOAN/GRANT PROGRAM WILL PROVIDE AN INCENTIVE FOR A NEW INDIVIDUAL TO PURCHASE AN EXISTING LIFESTYLE BUSINESS AND CONTINUE OPERATIONS. A LIFESTYLE BUSINESS IS DEFINED AS A FOR PROFIT BUSINESS IN WHICH THE OWNER WILL BE TREATING THE BUSINESS AS THEIR FULL-TIME JOB. THE PURPOSE OF THE REAL ESTATE FUND IS TO INVEST IN REAL ESTATE DEVELOPMENT AND REDEVELOPMENT PROJECTS THAT HAVE A COMMUNITY IMPACT WHILE ALSO ACHIEVING 8%-12% RETURNS FOR INVESTORS. 0 1 0 1 0 0 0 0 0 1 0 0 1 1 1 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 1 1 0 0 1 35 0 3 1 0 0 0 0 0 0 0 0 X 24 24 1 0 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 X X JOHN GARRY 5074339495 329 N MAIN ST SUITE 106L AUSTIN MN 55912 SCOTT FOX CHAIR 4.00 0.50 X X 0 0 0 NAN HANEGRAFF VICE CHAIR 3.00 0.50 X X 0 0 0 JOHN HERNANDEZ SECRETARY 3.00 0.50 X X 0 0 0 TANYA MEDGAARDEN TREASURER 3.00 0.50 X X 0 0 0 BRAD FJELSTA DIRECTOR 1.00 0.00 X 0 0 0 CARTER WAGNER DIRECTOR 1.00 0.00 X 0 0 0 CHAD SAYLES DIRECTOR 3.00 0.50 X 0 0 0 DAVE CLASEN DIRECTOR 1.00 0.00 X 0 0 0 ELAINE HANSEN DIRECTOR 1.00 0.00 X 0 0 0 GAIL DENNISON DIRECTOR 1.00 0.50 X 0 0 0 GEOFF BAKER DIRECTOR 1.00 0.00 X 0 0 0 GEOFF SMITH DIRECTOR 1.00 0.50 X 0 0 0 JASON BASKIN DIRECTOR 1.00 0.00 X 0 0 0 JIM KRUEGER DIRECTOR 1.00 0.00 X 0 0 0 KRISTIN JOHNSON DIRECTOR 1.00 0.00 X 0 0 0 LANCE POGONES DIRECTOR 1.00 0.00 X 0 0 0 MARK NIBAUR DIRECTOR 1.00 0.00 X 0 0 0 MIKE POSTMA DIRECTOR 1.00 0.00 X 0 0 0 MIKE TAPP DIRECTOR 1.00 0.00 X 0 0 0 NATE JANSEN DIRECTOR 1.00 0.00 X 0 0 0 NATHAN ANNIS DIRECTOR 1.00 0.00 X 0 0 0 PATTY TEWES DIRECTOR 1.00 0.00 X 0 0 0 STEVE HOVEY DIRECTOR 3.00 0.50 X 0 0 0 TAGGERT MEDGAARDEN DIRECTOR 1.00 0.00 X 0 0 0 JOHN GARRY EXEC. DIRECTOR 30.00 16.00 X 126316 0 3790 126316 0 3790 1 0 0 0 0 63750 68623 132373 BUILDING RENT 531190 189095 189095 INTEREST 900099 81649 81649 OCCUPANCY FEES & MGMT 900099 77457 77457 348201 27151 27151 507725 348201 0 27151 X 130106 37166 454 638 12604 311 80633 56016 6222 9278 17277 3459 485 102838 59724 6635 SBDC SUBSCRIPTIONS 28195 TAX PENALTIES 3528 MCRG GRANT EXPENSE 2154 MEMBERSHIPS & SUBSCRIPT 1295 257 559275 726710 272592 305950 778161 2740 4700 2520495 2410921 4213 4334 2131335 941476 1249480 1189859 212 6966 479185 320534 5288985 4988067 4157 43106 312411 347802 3444514 3112442 11065 3803 3772147 3507153 X 1516838 1480914 1516838 1480914 5288985 4988067 -51550 15522 104 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 39436 39436 2045565 920623 1124942 37850 17035 20815 8484 3818 4666 1189859 CONTRACT FOR DEED, NET OF ALLOWANCE 316731 LEASED ASSET, NET OF AMORTIZATION 3803 320534 LEASE LIABILITY 3803 3803 X 523247 15522 15522 507725 0 507725 559275 0 559275 0 559275 PART X, LINE 2: THE DEVELOPMENT CORPORATION OF AUSTIN IS A NOT-FOR-PROFIT CORPORATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. THERE WAS NO UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2023 AND THEREFORE THE ORGANIZATION HAS MADE NO PROVISION FOR INCOME TAXES. X 0 0 0 FORM 990, PART III, LINE 2 MOWER COUNTY FORGIVABLE LOAN PROGRAM. THE PURPOSE OF THIS PROGRAM WILL BE TO PROVIDE FOR THE PROMOTION AND CONTINUATION OF EXISTING LIFESTYLE BUSINESSES WITHIN MOWER COUNTY. MOST OF THESE BUSINESSES ARE OWNED AND OPERATED BY ONE INDIVIDUAL OR A FAMILY. THE FORGIVABLE LOAN/GRANT PROGRAM WILL PROVIDE AN INCENTIVE FOR A NEW INDIVIDUAL TO PURCHASE AN EXISTING LIFESTYLE BUSINESS AND CONTINUE OPERATIONS. A LIFESTYLE BUSINESS IS DEFINED AS A FOR PROFIT BUSINESS IN WHICH THE OWNER WILL BE TREATING THE BUSINESS AS THEIR FULL-TIME JOB. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS MADE UP OF 6 PERSONS, WHO SHALL BE VOTING MEMBERS AND SHALL BE ELECTED BY THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTE HAS THE FOLLOWING DUTIES: (A) TO HIRE, SUPERVISE, DISCIPLINE AND DISCHARGE ALL EMPLOYEES EMPLOYED BY THE CORPORATION, TO DETERMINE THEIR COMPENSATION AND BENEFITS, THEIR ASSIGNMENTS AND JOB DESCRIPTIONS AND THE TERMS AND CONDITIONS OF THEIR EMPLOYMENT. (B) TO BORROW FUNDS ON BEHALF OF THE CORPORATION, CONDUCTS ITS OPERATIONS, DEVELOP STRATEGY, DETERMINE RULES REGARDING CONFIDENTIALITY AND ENGAGE IN ALL ACTS NECESSARY FOR THE MANAGEMENT AND CONDUCT OF THE BUSINESS OF THE CORPORATION AND TO MAKE REGULAR REPORTS AND PROVIDE MINUTES OF THEIR MEETINGS (REDACTED APPROPRIATELY FOR REASON OF CONFIDENTIALITY) TO THE BOARD OF DIRECTORS. (C) TO APPROVE AND MAKE ANY LOANS, INVESTMENTS (INCLUDING EQUITY CONTRIBUTIONS), GRANTS AND ASSISTANCE TO CLIENTS OF THE CORPORATION. (D) TO CONDUCT THE DAY-TO-DAY BUSINESS OPERATIONS OF THE CORPORATION AND TO ADMINISTER THE FUNCTIONS AND OPERATIONS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 2 TAGGERT AND TANYA MEDGAARDEN HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL VOTING RIGHTS. THESE MEMBERS ARE MADE UP OF LOCAL BUSINESSES AND INDIVIDUALS INTERESTED IN THE PURPOSES AND OBJECTIVES OF THE CORPORATION AND IN COMMERCIAL, INDUSTRIAL, AND CIVIC PROGRESS OF THE AUSTIN COMMUNITY. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP OF THIS CORPORATION CONSISTS OF VOTING, NON-VOTING, AND HONORARY MEMBERS. VOTING MEMBERS PAY ANNUAL DUES SET FORTH BY THE EXECUTIVE COMMITTEE. NON-VOTING MEMBERS ARE FOUNDING MEMBERS WHO MADE AN INITIAL CONTRIBUTION, BUT DO NOT PAY ANNUAL DUES. EACH VOTING MEMBER OF THE ORGANIZATION RECEIVES EQUAL RIGHTS IN ELECTING BOARD MEMBERS AT ANNUAL MEETINGS. BOARD MEMBERS ARE REQUIRED TO BE MEMBERS OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B VOTING MEMBERS OF THE ORGANIZATION VOTE AT ANNUAL MEETINGS ON ANY CHANGES MADE TO THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE VICE-CHAIRMAN, TREASURER, AND EXECUTIVE DIRECTOR OF THE ORGANIZATION'S BOARD OF DIRECTORS WILL REVIEW THE FORM BEFORE IT IS FILED. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS WILL RECEIVE COPIES OF THE FORM BEFORE IT IS FILED, AND THE REMAINING BOARD MEMBERS WILL RECEIVE COPIES SUBSEQUENT TO FILING. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES 56,016. AUSTIN COMMUNITY CHARITABLE FUND 329 N MAIN ST AUSTIN MN 55912 363487772 CHARITABLE AND EDUCATIONAL SUPPORT MN 501(C)(3) LINE 12B, II DEVELOPMENT CORPORATION OF AUSTIN 1 AUSTIN COMMUNITY GROWTH VENTURES 329 N MAIN ST AUSTIN MN 55912 475042107 RESEARCH ACCELERATOR FOR BIOTECHNOLOGY COMPANIES INVOLVED IN ECONOMIC DEVEL. MN 501(C)(3) LINE 12A, I AUSTIN COMMUNITY CHARITABLE FUND 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 1