2025-02-17T17:25:16-06:00 2024-09-30 411489071 SMITH SCHAFER & ASSOCIATES LTD 7500 HIGHWAY 55 SUITE 350 MINNEAPOLIS MN 55427 990 2023-10-01 411345544 CENTRAL MINNESOTA DEVELOPMENT COMPANY CENT 7637843337 1885 STATION PARKWAY NW ANDOVER MN 55304 TIM WALKER EXECUTIVE DIRECTOR 7637843337 2025-02-17 1 DEAN RICHARDS P00029984 9529201455 2025-02-16 2023 2025-03-06 01:10:19Z TIM WALKER 1885 STATION PARKWAY NW ANDOVER MN 55304 1297238 0 X WWW.CMDCBUSINESSLOANS.COM X 1978 MN TO PROCESS AND MONITOR SBA LOAN PROGRAMS. 14 14 9 0 3758 0 0 0 1055723 1179689 48208 88247 94878 3758 1198809 1271694 0 0 0 0 759307 873099 0 0 0 208587 275436 967894 1148535 230915 123159 3077135 3012170 1080226 828224 1996909 2183946 CMDC IS COMMITTED TO PROMOTING ECONOMIC DEVELOPMENT BY CULTIVATING A FINANCING ENVIRONMENT THAT ALLOWS MINNESOTA SMALL BUSINESSES TO GROW AND PROSPER. 0 0 1035233 THE ORGANIZATION IS A SBA CERTIFIED DEVELOPMENT COMPANY ORGANIZED FOR THE PURPOSE OF PROMOTING ECONOMIC VIABILITY WITHIN CENTRAL MINNESOTA BY CULTIVATING A FINANCING ENVIRONMENT THAT ALLOWS SMALL BUSINESSES TO PROSPER. 1035233 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 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 0 1 2 0 1 9 1 1 1 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X TIM WALKER 7637843337 1885 STATION PARKWAY NW SUITE A ANDOVER MN 55304 CHRIS RANDALL CHAIRMAN 2.00 X X 0 0 0 JULIE LUX SECRETARY 2.00 X X 0 0 0 JOE PETERSON TREASURER 2.00 X X 0 0 0 DAVID RYMANOWSKI VICE CHAIRMAN 2.00 X X 0 0 0 MARTY FISHER DIRECTOR 2.00 X 0 0 0 STEVEN KALINA DIRECTOR 2.00 X 0 0 0 MAUREEN STEINWALL DIRECTOR 2.00 X 0 0 0 CLARK ARNESON DIRECTOR 2.00 X 0 0 0 CHRISTINE COSTELLO DIRECTOR 2.00 X 0 0 0 LARRY CRANE DIRECTOR 2.00 X 0 0 0 ERIK HEGG DIRECTOR 2.00 X 0 0 0 SEAN SULLIVAN DIRECTOR 2.00 X 0 0 0 PERRY RASSLER DIRECTOR 2.00 X 0 0 0 KRAIG KLIBER DIRECTOR 2.00 X 0 0 0 TIM WALKER EXECUTIVE DIRECTOR 40.00 X 164107 0 0 164107 0 0 1 0 1 0 0 LOAN ORIGINATION AND S 525990 1179689 1179689 1179689 88247 88247 29302 25544 3758 3758 3758 1271694 1179689 3758 88247 164107 139491 24616 532361 452507 79854 68653 65220 3433 56874 54030 2844 51104 48549 2555 95799 95799 26446 26446 21240 21240 4140 4140 26777 26777 4657 4657 3719 3719 11024 11024 COMMUNICATIONS 40413 40413 REAL ESTATE TAXES 16510 16510 MAINTENACE AND REPAIRS 5646 5646 EQUIPMENTAL RENTAL 5350 5350 13715 13715 1148535 1035233 113302 0 864311 871905 733434 760866 67377 93344 78974 2675 2839 944613 560705 402155 383908 981216 846301 3077135 3012170 244177 134829 591133 503438 244916 189957 1080226 828224 X 1996909 2183946 1996909 2183946 3077135 3012170 X 123159 63878 X X 0 1 X 1 0 114500 114500 676689 415027 261662 150781 143035 7746 2643 2643 0 383908 ILP NOTES RECEIVABLE 532956 RESERVE ACCOUNT 103012 REVOLVING LOAN FUND 174967 MINNESOTA EMERGING ENTREPRENEUR LOAN 27964 OPERATING RIGHT OF USE ASSET 7402 846301 REVOLVING LOAN FUND 174967 DEFERRED LOAN FEES 7588 OPERATING LEASE LIABILITY 7402 189957 X 1297238 0 1297238 -25544 -25544 1271694 1174079 0 1174079 -25544 -25544 1148535 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. CERTAIN ORGANIZATIONAL ACTIVITIES ARE TAXABLE AS UNRELATED BUSINESS INCOME. THERE IS NO PROVISION OR LIABILITY FOR FEDERAL INCOME TAXES FOR THE YEAR PRESENTED, AS THOSE ACTIVITIES DID NOT RESULT IN TAXABLE INCOME. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS AND ASSOCIATED UNRECOGNIZED BENEFITS THAT MATERIALLY IMPACT THE FINANCIAL STATEMENTS OR RELATED DISCLOSURES. THE ORGANIZATION'S FEDERAL INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES X X X 0 0 0 TIM WALKER EXECUTIVE DIRECTOR 164107 0 0 0 0 0 0 0 0 0 164107 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR FIRST REVIEWS THE 990 RECEIVED FROM THE ACCOUNTANT, THEN IS REVIEWED BY THE EXECUTIVE COMMITTEE WHO PRESENTS IT TO THE BOARD FOR REVIEW AND APPROVAL PRIOR TO MAILING. FORM 990, PART VI, SECTION B, LINE 12C DISCUSSED AT LEAST ANNUALLY AT THE BOARD MEETING TO KEEP MEMBERS AWARE. FORM 990, PART VI, SECTION B, LINE 15 ANNUAL REVIEWS ARE COMPLETED WITH CONSIDERATION OF ACCOMPLISHMENTS OF PERSONAL AND BUISNESS GOALS. INDUSTRY STANDARDS ARE USED IN CONJUNCTION WITH ACCOMPLISHMENTS. ALL COMPENSATION RATES ARE REVIEWED AND APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE AT THE OFFICE UPON REQUEST. FORM 990, PART XI, LINE 9: PY RESTATEMENT 63,878. FORM 990, PART XII, LINE 2C: ORGANIZATION'S BOARD OF DIRECTORS IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. AUDITED FINANCIAL STATEMENTS AND 990 ARE REVIEWED BY THE BOARD PRIOR TO ISSUANCE.