Milwaukee Economic Development Corp
Milwaukee Economic Development Corp
Want to make a donation using Daffy?
Lower your income taxes with a charitable deduction this year when you donate to this non-profit via Daffy.
Do you work for Milwaukee Economic Development Corp? Learn more here.
By donating on this page you are making an irrevocable contribution to Daffy Charitable Fund, a 501(c)(3) public charity, and a subsequent donation recommendation to the charity listed above, subject to our Member Agreement. Contributions are generally eligible for a charitable tax-deduction and a yearly consolidated receipt will be provided by Daffy. Processing fees may be applied and will reduce the value available to send to the end charity. The recipient organizations have not provided permission for this listing and have not reviewed the content.
Donations to organizations are distributed as soon as the donation is approved and the funds are available. In the rare event that Daffy is unable to fulfill the donation request to this charity, you will be notified and given the opportunity to choose another charity. This may occur if the charity is unresponsive or if the charity is no longer in good standing with regulatory authorities.
About this organization
Mission
MEDC provides gap financing to businesses in order to create employment opportunities and increase local incomes through the retention, expansion and development of manufacturing, service and other commercial establishments located in Milwaukee, Waukesha, Washington, Walworth, Racine, Kenosha and Ozaukee counties (collectively M7 region).
About
Lending: MEDC provides below market interest rate loans to Milwaukee businesses working in partnership with a bank. MEDC's approach to lending revolves around two fundamental principles: sharing risk with all participants in a project and lending in partnership with private sector financial institutions. Excluded from expenses are $798,713 of distributions of 99.99% of net income to investor members related to the new markets tax credit subsidiaries. MEDC only owns .01% of these funds. See also schedules O and R for further information.
Interesting data from their 2019 990 filing
According to the filing, the non-profit's mission is “Medc provides gap financing to businesses in order to create employment opportunities and increase local incomes through the retention, expansion and development of manufacturing, service and other commercial establishments located in milwaukee, waukesha, washington, walworth, racine, kenosha and ozaukee counties (collectively m7 region).”.
When referring to its actions, they were described as: “Medc provides gap financing to businesses in order to create employment opportunities and increase local incomes through the retention, expansion and development of manufacturing, service and other commercial establishments located in milwaukee, waukesha, washington, walworth, racine, kenosha and ozaukee counties (collectively m7 region).”.
- According to the law, the state of operation reported by the non-profit is WI.
- As per the filing, the address of the non-profit for 2019 is 757 NORTH BROADWAY NO 600, MILWAUKEE, WI, 53202.
- According to their form, the non-profit as of 2019 has a total of 19 employees.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is -$3,252,414.
- The organization has 25 independent voting members.
- The organization was formed in 1971.
- The organization pays $1,454,759 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.