2026-01-26T10:55:46-06:00 2025-09-30 463220328 AKINS HENKE AND COMPANY 600 INWOOD AVENUE NORTH SUITE 140 OAKDALE MN 55128 990 2024-10-01 411672450 TWIN CITIES-METRO CERTIFIED DEVELOPMENT TWIN 6514818081 3495 VADNAIS CENTER DRIVE VADNAIS HEIGHTS MN 55110 PETER D INGEBRAND PRESIDENT 6514818081 2026-01-20 1 1 CHRIS HENKE P01008921 6516363806 2026-01-20 2024 2025-03-06 01:10:19Z PETER D INGEBRAND 3495 VADNAIS CENTER DRIVE VADNAIS HEIGHTS MN 55110 3938336 0 X WWW.504LENDING.COM X 1990 MN ADMINISTER SBA 504 LOAN PROGRAM WITHIN MINNESOTA AND WESTERN WISCONSIN. 15 15 17 0 0 0 0 0 3421041 3752084 152036 172558 27070 13694 3600147 3938336 100000 100000 0 0 2936933 3174870 0 0 0 645570 685183 3682503 3960053 -82356 -21717 7429184 7493854 3190615 3277002 4238569 4216852 TO STIMULATE PRIVATE SECTOR INVESTMENT BY PROVIDING FUNDING FOR SMALL BUSINESS EXPANSIONS IN MINNESOTA AND WESTERN WISCONSIN THROUGH THE UTILIZATION OF THE SMALL BUSINESS ADMINISTRATION'S 504 LOAN PROGRAM. 0 0 3328951 100000 3765778 TO STIMULATE PRIVATE SECTOR INVESTMENT BY PROVIDING FUNDING FOR SMALL BUSINESS EXPANSIONS IN MINNESOTA AND WESTERN WISCONSIN THROUGH THE UTILIZATION OF THE SMALL BUSINESS ADMINISTRATION'S 504 LOAN PROGRAM. BUSINESSES ARE ELIGIBLE FOR THE LOANS BASED ON THEIR PURCHASE OF FIXED ASSETS, PRIMARILY REAL ESTATE, FOR THEIR BUSINESS USE. THE ELIGIBLE BUSINESSES SHOULD RETAIN AND CREATE AT LEAST ONE JOB FOR EVERY $90,000 (OR $140,000 FOR SMALL MANUFACTURERS) IN SBA GUARANTEED FUNDS OR MEET A PUBLIC POLICY GOAL AS DICTATED BY THE SBA. THE ORGANIZATION HAD 55 LOAN APPROVALS AND 51 LOAN FUNDINGS FOR APPROXIMATELY $55.7 MILLION DURING FISCAL YEAR 2025. IT IS ANTICIPATED THAT WITHIN TWO YEARS OF FUNDING, 513 JOBS WILL BE CREATED AND/OR RETAINED AS A RESULT OF THESE LOANS. 3328951 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 15 0 1 17 1 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X PETER D INGEBRAND 6514818081 3495 VADNAIS CENTER DRIVE VADNAIS HEIGHTS MN 55110 PETE INGEBRAND PRESIDENT 45.00 X 290411 0 40523 PAUL LAMBERT - SECRETARY SENIOR VICE PRESIDENT 45.00 X 210638 0 38692 JIM LOUWAGIE BOARD MEMBER/CHAIR 2.50 X X 5835 0 0 KEVIN MAAS - BOARD MEMBER TREASURER/SECRETARY 2.50 X X 4875 0 0 BRAD BENESH BOARD MEMBER 1.50 X 1840 0 0 MIKE BRASS BOARD MEMBER 1.50 X 1665 0 0 KATE CROW BOARD MEMBER 1.50 X 0 0 0 JONATHAN DOLPHIN BOARD MEMBER 1.50 X 3480 0 0 DEBORAH MALMBERG SMITH BOARD MEMBER 1.50 X 0 0 0 ROYCE NELLIGAN BOARD MEMBER 2.50 X 3515 0 0 SHELLEY PETERSON BOARD MEMBER 1.50 X 1805 0 0 STEVE POWELL BOARD MEMBER 1.50 X 1735 0 0 MIKE SCHOLL BOARD MEMBER 1.50 X 1770 0 0 LEVI SMITH BOARD MEMBER 1.50 X 2050 0 0 BRYAN TOFT BOARD MEMBER 1.50 X 1665 0 0 DAVID WASMUTH BOARD MEMBER 2.50 X 3620 0 0 DENNIS WELCH BOARD MEMBER 2.50 X 3270 0 0 DEBORAH GUSTAFSON - SENIOR LENDER/SENIOR VICE PRESIDENT 45.00 X 265345 0 44352 SHEIL NELSON SENIOR LENDER 45.00 X 223887 0 46682 MICHAEL KINNINGER LOAN OFFICER 45.00 X 166952 0 26609 MELISSA MILLER LOAN OFFICER 45.00 X 153987 0 6704 MICHAEL KINDERMAN LOAN OFFICER 45.00 X 147826 0 15679 1496171 0 219241 7 0 1 0 0 LOAN SERVICING FEES 525990 2182278 2182278 LOAN PROCESSING FEES 525990 1041525 1041525 LOAN FLOAT REVENUE 525990 528281 528281 3752084 172558 172558 MISCELLANEOUS INCOME 525990 13694 13694 13694 3938336 3765778 0 172558 100000 100000 665233 291928 373305 1972089 1898754 73335 53350 52027 1323 315107 294309 20798 169091 143558 25533 53363 53300 63 20500 20500 95644 40253 55391 16488 16488 113070 102780 10290 29481 29481 96976 88151 8825 109078 98497 10581 38375 34883 3492 32680 29700 2980 STAFF EXPENSE 30711 27732 2979 CREDIT LOSSES 20521 0 20521 DONATIONS 16069 16069 MISCELLANEOUS 12227 11041 1186 3960053 3328951 631102 0 18591 62893 4905236 4934059 1017728 1057264 20333 42985 1907239 796958 1148656 1110281 318640 286372 7429184 7493854 1166866 1076278 2023749 2200724 3190615 3277002 X 4238569 4216852 4238569 4216852 7429184 7493854 -21717 0 X 0 1 X 1 0 401533 401533 1378477 674104 704373 127229 122854 4375 1110281 DEFERRED COMPENSATION PLAN 2200724 2200724 X 3938336 0 3938336 0 3938336 3960053 0 3960053 0 3960053 PART X, LINE 2: TWIN CITIES-METRO IS CLASSIFIED AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE AND RELATED STATE STATUTES. U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY TWIN CITIES-METRO AND RECOGNIZE A TAX LIABILITY IF TWIN CITIES-METRO HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY TWIN CITIES-METRO AND HAS CONCLUDED THAT AS OF SEPTEMBER 30, 2025, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. 1 NEIGHBORHOOD DEVELOPMENT CENTER 625 UNIVERSITY AVENUE SAINT PAUL MN 55104 411738791 501(C)(3) 25000 0 GENERAL OPERATING GRANT METROPOLITAN ECONOMIC DEVELOPMENT ASSOCIATION 1256 PENN AVENUE N SUITE 4800 MINNEAPOLIS MN 55411 410977257 501(C)(3) 25000 0 GENERAL OPERATING GRANT METROPOLITAN CONSORTIUM OF COMMUNITY DEVELOPERS 3137 CHICAGO AVENUE MINNEAPOLIS MN 55407 411658654 501(C)(3) 25000 0 GENERAL OPERATING GRANT ST CROIX ECONOMIC DEVELOPMENT CORPORATION 2424 MONETARY BLVD SUITE 117 HUDSON WI 54016 391758489 501(C)(3) 10000 0 GENERAL OPERATING GRANT WOMEN VENTURE 165 WESTERN AVENUE SUITE 8 ST PAUL MN 55102 411463426 501(C)(3) 15000 0 GENERAL OPERATING GRANT 5 PART I, LINE 2: THERE IS NO MONITORING OF THE GRANT FUNDS ONCE THEY HAVE BEEN AWARDED OTHER THAN RECEIVING THE GRANTEE'S ANNUAL REPORT. X X X 0 1 0 0 0 0 0 0 0 PETE INGEBRAND PRESIDENT 245111 0 30000 0 15300 0 8864 0 31659 0 330934 0 0 0 PAUL LAMBERT - SECRETARY SENIOR VICE PRESIDENT 160884 0 32000 0 17754 0 5457 0 33235 0 249330 0 0 0 DEBORAH GUSTAFSON - SENIOR LENDER/SENIOR VICE PRESIDENT 206396 0 40122 0 18827 0 7015 0 37337 0 309697 0 0 0 SHEIL NELSON SENIOR LENDER 189464 0 23434 0 10989 0 6269 0 40413 0 270569 0 0 0 MICHAEL KINNINGER LOAN OFFICER 150452 0 16500 0 0 0 4487 0 22122 0 193561 0 0 0 MELISSA MILLER LOAN OFFICER 124266 0 16000 0 13721 0 3884 0 2820 0 160691 0 0 0 MICHAEL KINDERMAN LOAN OFFICER 133826 0 14000 0 0 0 4344 0 11335 0 163505 0 0 0 PART I, LINE 4B THE ORGANIZATION HAS A DEFERRED COMPENSATION PLAN FOR ITS EMPLOYEES. UNDER THE TERMS OF THE PLAN, ALL FULL-TIME EMPLOYEES ARE ELIGIBLE TO PARTICIPATE AND ACCRUE 5% FOR EACH YEAR OF EMPLOYMENT, BUT ARE NOT VESTED UNTIL THEY HAVE COMPLETED TEN YEARS OF EMPLOYMENT. ONCE THE EMPLOYEE IS VESTED, THE VESTED PORTION OF THE PLAN AND SUBSEQUENT YEARS OF VESTING ARE REPORTED AS WAGES SUBJECT TO SOCIAL SECURITY AND MEDICARE ON BOXES 3 AND 5 OF THE EMPLOYEE'S W-2. THE FOLLOWING EMPLOYEES LISTED ON 990 PAGE 7, PART VII HAVE ACCRUED AMOUNTS UNDER THE DEFERRED COMPENSATION PLAN DURING FISCAL YEAR 2025: PETE INGEBRAND $15,300 PAUL LAMBERT $20,028 DEBORAH GUSTAFSON $16,740 SHEIL NELSON $30,049 MELISSA MILLER $14,665 UPON TERMINATION, IF THE EMPLOYEE IS VESTED, THEY RECEIVE A BENEFIT EQUAL TO A PERCENTAGE OF THEIR HIGHEST COMPENSATION DURING THE PRIOR FIVE FISCAL YEARS. AN EMPLOYEE CAN ACCRUE UP TO A MAXIMUM BENEFIT OF 200%. BENEFIT PAYMENTS ARE TO BE PAID OUT EQUALLY OVER TWELVE MONTHS. WHEN THE BENEFITS ARE PAID, THEY ARE REPORTED AS TAXABLE COMPENSATION ON BOX 1 OF THE EMPLOYEE'S W-2. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE AND MANAGEMENT PERFORM A DETAILED REVIEW OF THE 990 RETURN PRIOR TO ITS FINALIZATION. ONCE THE AUDIT COMMITTE APPROVES THE 990 FOR FILING, THE BOARD OF DIRECTORS RATIFIES THE ACTION. THE BOARD OF DIRECTORS IS PROVIDED A DRAFT OF THE 990 RETURN PRIOR TO RATIFICATION. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS MONITORED AND ENFORCED ON AN ONGOING BASIS. BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST PRIOR TO VOTING ON MATTERS AND MUST THEN ABSTAIN FROM VOTING IF THEY HAVE A CONFLICT OF INTEREST. THE BOARD MINUTES NOTE THE BOARD MEMBERS WHO ABSTAINED FROM VOTING DUE TO A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE COMPENSATION PACKAGE FOR THE PRESIDENT/EXECUTIVE DIRECTOR AND ALL STAFF MEMBERS OF THE CORPORATION. THE COMPENSATION PACKAGES ARE EVALUATED BASED ON INDUSTRY COMPENSATION SURVEYS, 990 COMPARISONS, AND ANALYSIS OF EXISTING ECONOMIC CONDITIONS AFFECTING THE LOCAL EMPLOYMENT MARKET. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.