2024-05-15T08:56:19-05:00 2023-12-31 410879566 JOHN A KNUTSON & CO PLLP 1781 PRIOR AVENUE NORTH FALCON HEIGHTS MN 55113 990 2023-01-01 411577185 AMPLIO ECONOMIC DEVELOPMENT CORPORATION AMPL 6516314900 3900 NORTHWOODS DRIVE ARDEN HILLS MN 55112 JONATHAN SAGE-MARTINSON CHIEF EXECUTIVE OFFICER 6516314900 2024-05-14 1 JONATHAN SAGE-MARTINSON 999009999 0 JASON J LOVEN CPA P00745574 6516411099 2024-05-14 0 AAL1 IAL1 2023 2023-04-26 12:10:37Z JONATHAN SAGE-MARTINSON 3900 NORTHWOODS DRIVE ARDEN HILLS MN 55112 1921360 0 X WWW.AMPLIOEDC.COM X 1981 MN THIS CORPORATION ELECTS TO BE GOVERNED UNDER THE PROVISIONS OF MINNESOTA STATUTES CHAPTER 317A. AMPLIO ECONOMIC DEVELOPMENT CORPORATION FURTHERS THE ECONOMIC DEVELOPMENT OF THE STATE OF MINNESOTA AND THE ADJOINING ECONOMIC DEVELOPMENT AREA BY ASSISTING THE GROWTH OF SMALL BUSINESSES AND THERBY CONTRIBUTING TO THE ECONOMIC WELL-BEING OF THE AREA. THE CORPORATION IS CERTIFIED AS A CERTIFIED DEVELOPMENT COMPANY BY THE U.S. SMALL BUSINESS ADMINISTRATION. 12 11 1 48 0 0 0 0 1716443 1896491 8346 24869 0 0 1724789 1921360 45900 850 0 0 110122 114527 0 0 0 1620942 1602569 1776964 1717946 -52175 203414 2286785 2373398 671220 554419 1615565 1818979 THE ORGANIZATION'S MISSION IS TO PROVIDE INNOVATIVE FINANCING RESOURCES THAT FOSTER BUSINESS GROWTH. 0 0 1432507 850 1896491 THE 504 PROGRAM INCLUDES 503/504 LOANS FOR THE PURPOSE OF FURTHERING THE ECONOMIC DEVELOPMENT FOR THE STATE OF MINNESOTA. APPROXIMATELY 38 LOANS WERE CLOSED IN 2023. 1432507 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 9 0 1 1 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 X JONATHAN SAGE-MARTINSON 6516314900 3900 NORTHWOODS DRIVE SUITE 225 ARDEN HILLS MN 55112 JONATHAN SAGE-MARTINSON CHIEF EXECUTIVE OFFICER 44.00 X X 390164 0 38525 JAMES TERRELL CHAIR 1.00 X X 0 0 0 KARI COLLINS VICE CHAIR/ DIRECTOR 1.00 X X 0 0 0 KIM STOREY SECRETARY/ TREASURER 1.00 X X 0 0 0 JOE BAUER DIRECTOR 1.00 X 0 0 0 RAOUL BOOTON DIRECTOR 1.00 X 0 0 0 TONY DUBAY DIRECTOR 1.00 X 0 0 0 JOHN EDSON DIRECTOR 1.00 X 0 0 0 WENDY ETHEN DIRECTOR/ VICE CHAIR 1.00 X X 0 0 0 JOHN FRITZ DIRECTOR 1.00 X 0 0 0 JAY GIKAS DIRECTOR 1.00 X 0 0 0 CHET MASSERANO DIRECTOR 1.00 X 0 0 0 KARI SCHURMANN DIRECTOR 1.00 X 0 0 0 MICHAEL GAY DIRECTOR 1.00 X 0 0 0 JULIE KIMBLE DIRECTOR 1.00 X 0 0 0 JIMMY LOYD DIRECTOR 1.00 X 0 0 0 MARY STOICK DIRECTOR 1.00 X 0 0 0 ANDY CLAUSEN ASSISTANT TREASURER 44.00 X 188180 0 41256 SCOTT HOESCHEN LOAN OFFICER 44.00 X 114768 0 7474 CHRIS KAYE LOAN OFFICER 44.00 X 109918 0 38852 803030 0 126107 4 0 1 0 0 SERVICING FEES 522200 1088474 1088474 ORIGINATION FEES 522200 454580 454580 FLOAT REVENUE 522200 336293 336293 OTHER INCOME 522200 17144 17144 1896491 24869 24869 1921360 1921360 0 0 850 850 102577 102577 4103 4103 7847 7847 27713 27713 49378 15570 33808 44323 44323 29611 24281 5330 89269 83913 5356 20764 20764 26286 26286 13138 12394 744 20848 12509 8339 PERSONNEL COSTS 1184305 990033 194272 GENERAL CONSULTING 45817 38884 6933 TELEPHONES 10412 8538 1874 TRAINING 10349 10349 30356 29286 1070 1717946 1432507 285439 0 334127 252199 1531079 1433488 143267 152771 10000 24918 30717 106387 81486 38296 24901 6090 5359 209008 463963 2286785 2373398 176861 86813 34365 0 459994 467606 671220 554419 X 1615565 1818979 1615565 1818979 2286785 2373398 203414 0 X 0 1 X 1 0 106387 81486 24901 24901 DEPOSITS 41824 COSTS ON LOAN CONTRACTS 31000 DESIGNATED RESERVE FUNDS 73855 OPERATING LEASE RIGHT-OF-USE-ASSET 317284 463963 CLIENT DEPOSITS 29500 ACCRUED PERSONNEL COSTS 119397 OPERATING LEASE - CURRENT 35432 OPERATING LEASE LIABILITY- LONG-TERM 283277 467606 1921360 0 1921360 0 1921360 1717946 0 1717946 0 1717946 X X X X X 0 0 0 0 0 1 0 1 0 JONATHAN SAGE-MARTINSON CHIEF EXECUTIVE OFFICER 191165 0 198999 0 0 0 17759 0 20766 0 428689 0 150908 0 ANDY CLAUSEN ASSISTANT TREASURER 163913 0 24267 0 0 0 10041 0 31215 0 229436 0 0 0 PART I, LINE 6 BONUSES ARE CALCULATED AS A PERCENTAGE OF SALARY BASED ON BENCHMARKS DETERMINED ANNUALLY BY THE BOARD OF DIRECTORS. BONUSES ARE CONTINGENT, IN PART, ON NET INCOME TARGETS ADJUSTED FOR CHARITABLE CONTRIBUTIONS, BONUSES, AND CERTAIN OTHER EXPENSES AT THE DISCRETION OF THE BOARD OF DIRECTORS. PART I, LINE 7 LOANS APPROVED AND CLOSED BY THE ORGANIZATION ARE NON-FINANCIAL BENCHMARKS USED TO CALCULATE THE ANNUAL BONUSES. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED FORM 990 IS REVIEWED AND APPROVED BY THE FULL BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE EXECUTIVE COMMITTEE MONITORS COMPLIANCE BY ANNUALLY ASKING TO REVIEW A SIGNED COPY OF THE CONFLICT OF INTEREST DISCLOSURE STATEMENT SIGNED BY EACH EMPLOYEE AND BOARD MEMBER. FORM 990, PART VI, SECTION B, LINE 15 THE CHIEF EXECUTIVE OFFICER PERFORMS SERVICES FOR THE ORGANIZATION AS AN EMPLOYEE AND AS A LEASED EMPLOYEE. ALL OTHER PERSONNEL ARE LEASED EMPLOYEES. LEASED EMPLOYEE EXPENSES ARE REPORTED ON LINE 24A OF PART IX. A FIVE PERSON COMPENSATION COMMITTEE REVIEWED INDUSTRY DATA AND MADE COMPENSATION RECOMMENDATIONS TO THE FULL BOARD OF DIRECTORS. THE BOARD OF DIRECTORS APPROVED FINAL COMPENSATION DECISIONS FOR EMPLOYEES AND LEASED EMPLOYEES. 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. AMPLIO LENDING CORPORATION 3900 NORTHWOODS DRIVE SUITE 225 ARDEN HILLS MN 55112 923805090 LENDING TO SMALL BUSINESSES MN 501(C)(3) LINE 10 AMPLIO ECONOMIC DEVELOPMENT CORPORATION 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 AMPLIO LENDING CORPORATION D 10000 CASH TRANSFERRED