2024-02-15T11:34:45-06:00 2023-09-30 411334380 MILLER WELLE HEISER & CO LTD 4170 THIELMAN LANE PO BOX 159 ST CLOUD MN 563020159 990 2022-10-01 411846655 MINNESOTA BUSINESS FINANCE CORPORATION MINN 3202585000 616 ROOSEVELT RD 200 ST CLOUD MN 56301 NADENE KRUIZE PRESIDENT & CEO 3202585000 2024-02-15 1 NADENE KRUIZE 999009999 0 TRINA PEETERS CPA P01625727 3202539505 2024-02-12 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z NADENE KRUIZE 616 ROOSEVELT RD 200 ST CLOUD MN 56301 4410012 0 X WWW.MBFC.ORG X 1996 MN TO PROMOTE SMALL BUSINESS & JOBS 12 11 20 0 -17196 0 0 0 3657206 4170655 8899 117561 7332 -42873 3673437 4245343 37696 68711 0 0 2552987 2759504 0 0 0 945990 1093347 3536673 3921562 136764 323781 6710385 6667308 1642450 1275592 5067935 5391716 TO PROMOTE SMALL BUSINESS & JOBS 0 0 3041631 68711 4288216 TO PROMOTE SMALL BUSINESS & JOB CREATION IN MINESOTA THROUGH THE U.S. SMALL BUSINESS ADMINISTRATION, ZERO SUBSIDY, SECTION 504 LOAN PROGRAM AUTHORIZED BY TITLE V OF THE SMALL BUSINESS INVESTMENT ACT, TITLE 15 U.S.C. CHAPTER 14B. 3041631 1 0 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 32 0 1 20 1 1 1 0 0 0 0 0 0 0 0 0 X 12 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X NADENE KRUIZE 3202585000 616 ROOSEVELT RD 200 ST CLOUD MN 56301 DUSTEN JOHNSON BOARD MEMBER 1.00 X 4800 0 0 JAMES VRCHOTA BOARD MEMBER 1.00 X 3600 0 0 NANCY HOFFMAN BOARD MEMBER 1.00 X 3600 0 0 DAN NYGAARD BOARD MEMBER 1.00 X 3600 0 0 MARK SCHIK BOARD MEMBER 1.00 X 3600 0 0 CHAD SYLTIE BOARD MEMBER 1.00 X 3600 0 0 JOHN HERGES BOARD MEMBER 1.00 X 3000 0 0 MATTHEW DOROTHY BOARD MEMBER 1.00 X 3600 0 0 JASON MURRAY BOARD MEMBER 1.00 X 3000 0 0 MAURICE DURHEIM CHAIRMAN 1.00 X 7200 0 0 NADENE KRUIZE PRESIDENT & CEO 40.00 X 265474 0 45743 THOMAS SAEHR FORMER PRESIDENT & CEO/BOARD MEMBER 40.00 X 312815 0 49206 DALE UMLAUF SECRETARY 1.00 X 4800 0 0 BOB PALMQUIST TREASURER 1.00 X 4800 0 0 CAROL ANDERSON VICE CHAIR 1.00 X 4800 0 0 JENNIFER FITZPATRICK VICE PRESIDENT, LOAN PORTFOLIO OFFICER 40.00 X 105877 0 30100 SARAH BORGMAN CHIEF CREDIT OFFICER 40.00 X 101185 0 24111 MICHELLE MUELLER VICE PRESIDENT BUSINESS DE 40.00 X 112737 0 6764 TERRY STEIN VICE PRESIDENT BUSINESS DE 40.00 X 152144 0 34414 JOSEPH KAMMERMEIER VICE PRESIDENT BUSINESS DE 40.00 X 159657 0 40016 MICHAEL STEARNS VICE PRESIDENT BUSINESS DE 40.00 X 143981 0 38143 PAMELA BURNSIDE VICE PRESIDENT BUSINESS DE 40.00 X 135604 0 29093 1543474 0 297590 9 0 1 0 0 LOAN SERVICING FEES 3728602 3728602 INTEREST ON ESCROW 442099 442099 FORFEITED DEPOSITS -46 -46 4170655 117561 117561 121796 164669 -42873 -42873 -17196 -25677 4245343 4288216 -17196 -25677 68711 68711 659347 512085 147262 1512317 1151340 360977 447590 340169 107421 140250 106590 33660 110786 90844 19942 34484 28277 6207 88836 88836 222706 191502 31204 138705 113739 24966 138432 138432 24795 24795 32915 26990 5925 39056 32026 7030 REPAIRS AND MAINTENANCE 121375 121375 OUTSIDE SERVICES 77569 63607 13962 MEALS 63688 63688 3921562 3041631 879931 0 342901 600643 2906475 2125089 1946 1464 120124 96655 3735373 2130849 1670086 1604524 1668853 2238933 6710385 6667308 66577 52637 1077486 898504 498387 324451 1642450 1275592 X 4933537 5336945 134398 54771 5067935 5391716 6710385 6667308 323781 0 X 0 1 X 1 0 X 2800763 2914312 3027157 3657206 4170655 16570093 2800763 2914312 3027157 3657206 4170655 16570093 0 0 0 16570093 149130 149633 138408 133617 239357 810145 149130 149633 138408 133617 239357 810145 2949893 3063945 3165565 3790823 4410012 17380238 0.95340 0.95590 0.04660 0.04480 X 239538 160426 399964 1521156 1018760 1399735 1140181 49158 49158 0 746335 681956 64379 1604524 INTEREST RECEIVABLE 233880 CERTIFICATES OF DEPOSIT 1352314 NOTES RECEIVABLE, NET 652739 2238933 ACCRUED WAGES AND PAYROLL TAXES 197677 REIMBURSABLE FEES 16382 SECURITY DEPOSIT 1500 ACCRUED ITNEREST 3161 UNFUNDED LOAN REVENUE 105731 324451 X PART X, LINE 2: THE ORGANIZATION IS SUBJECT TO THE ACCOUNTING STANDARDS ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENT. UNDER THIS GUIDANCE, THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS THE GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE TAX POSITIONS FOR THE ORGANIZATION AND CONCLUDED THAT THE ORGANIZATION HAD TAKEN NO UNCERTAIN INCOME TAX POSITIONS THAT REQUIRE ADJUSTMENTS TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. WITH FEW EXCEPTIONS, THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2019, WHICH IS THE STANDARDS STATUTE OF LIMITATIONS LOOK-BACK PERIOD. 1 ND SMALL BUSINESS DEVELOPMENT CENTERS 1854 NDSU RESEARCH CIR N STE 7 FARGO ND 58102 10000 0 TO ASSIST ND SBDC WITH FUNDING 1 1 PART I, LINE 2: THE GRANTS ARE UNRESTRICTED AND UNMONITORED. X X 0 0 0 0 0 0 0 0 0 THOMAS SAEHR FORMER PRESIDENT & CEO/BOARD MEMBER 252860 0 59955 0 0 0 18769 0 30437 0 362021 0 0 0 NADENE KRUIZE PRESIDENT & CEO 228652 0 36822 0 0 0 15928 0 29815 0 311217 0 0 0 JOSEPH KAMMERMEIER VICE PRESIDENT BUSINESS DE 145426 0 14231 0 0 0 9579 0 30437 0 199673 0 0 0 TERRY STEIN VICE PRESIDENT BUSINESS DE 138344 0 13800 0 0 0 9129 0 25285 0 186558 0 0 0 MICHAEL STEARNS VICE PRESIDENT BUSINESS DE 131199 0 12782 0 0 0 8639 0 29504 0 182124 0 0 0 PAMELA BURNSIDE VICE PRESIDENT BUSINESS DE 124469 0 11135 0 0 0 8136 0 20957 0 164697 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR PRESENTS THE 990 TO THE BOARD MEMBERS. THE BOARD REVIEWS THE 990 AS A GROUP. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ALL EMPLOYEES TO SIGN A CONFLICT OF INTEREST POLICY. THE SIGNED COPIES ARE KEPT AT THE ST CLOUD OFFICE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS APPROVES THE CEO'S COPMENSATION. THE BOARD HAS AVAILABLE THE COMPENSATION SURVEY FROM THE MINNESOTA BANKERS ASSOCIATION AND ALSO THE SALARY SURVEY FROM NADCO. OTHER OFFICERS AND KEY EMPLOYEES ARE REVIEWED BY THEIR DIRECT SUPERVISOR OR MANAGER. THE CEO, BASED ON THE REVIEWS AND THE APPROVED BUDGET FOR COMPENSATION, APPROVES CHANGES IN COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST MINNESOTA CENTER FOR BUSINESS DEVELOPMENT LLC 616 ROOSEVELT ROAD 200 ST CLOUD MN 56301 411966562 RENTAL REAL ESTATE MN N/A