2025-06-05T09:36:05-05:00 2024-12-31 410879566 JOHN A KNUTSON & CO PLLP 1781 PRIOR AVENUE NORTH FALCON HEIGHTS MN 55113 990 2024-01-01 411577185 AMPLIO ECONOMIC DEVELOPMENT CORPORATION AMPL 6516314900 3900 NORTHWOODS DRIVE ARDEN HILLS MN 55112 JONATHAN SAGE-MARTINSON CHIEF EXECUTIVE OFFICER 6516314900 2025-06-03 1 0 JASON J LOVEN CPA P00745574 6516411099 2025-06-03 2024 2025-03-06 01:10:19Z JONATHAN SAGE-MARTINSON 3900 NORTHWOODS DRIVE ARDEN HILLS MN 55112 1945185 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. 14 13 1 54 0 0 0 0 1896491 1876697 24869 68488 0 0 1921360 1945185 850 700 0 0 114527 122764 0 0 0 1602569 1540952 1717946 1664416 203414 280769 2373398 2583861 554419 484113 1818979 2099748 THE ORGANIZATION'S MISSION IS TO PROVIDE INNOVATIVE FINANCING RESOURCES THAT FOSTER BUSINESS GROWTH. 0 0 1401972 700 1945185 THE 504 PROGRAM INCLUDES 503/504 LOANS FOR THE PURPOSE OF FURTHERING THE ECONOMIC DEVELOPMENT FOR THE STATE OF MINNESOTA. APPROXIMATELY 31 LOANS WERE CLOSED IN 2024. 1401972 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 0 0 1 10 0 1 1 0 0 0 0 0 0 0 0 X 14 13 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 ASSISTANT SECRETARY/ CEO 44.00 X X 237208 0 35019 JAMES TERRELL 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 WENDY ETHEN VICE CHAIR/ CHAIR 1.00 X X 0 0 0 JOHN FRITZ DIRECTOR 1.00 X 0 0 0 CHET MASSERANO 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/ VICE CHAIR 1.00 X X 0 0 0 ANDREW SWAMMI SECRETARY/ TREASURER 1.00 X 0 0 0 STEVE ERCHUL DIRECTOR 1.00 X 0 0 0 ANDREW CLAUSEN ASSISTANT TREASURER 44.00 X 180373 0 36162 CHRIS KAYE LOAN OFFICER 44.00 X 100771 0 39121 518352 0 110302 3 0 1 0 0 SERVICING FEES 522200 1145159 1145159 ORIGINATION FEES 522200 376753 376753 FLOAT REVENUE 522200 335088 335088 OTHER INCOME 522200 19697 19697 1876697 68488 68488 1945185 1945185 0 0 700 700 109954 109954 4398 4398 8412 8412 2576 2576 30832 30832 31093 31093 52410 45527 6883 96928 91054 5874 18024 18024 22536 22536 11097 10469 628 19413 11648 7765 PERSONNEL COSTS 1131472 932787 198685 GENERAL CONSULTING 65141 57949 7192 TRAINING 20408 20408 DUES & PUBLICATIONS 18376 18376 20646 18637 2009 1664416 1401972 262444 0 252199 195014 1433488 1676341 152771 188674 10000 22739 30717 44556 94016 68420 24901 25596 5359 4628 463963 426313 2373398 2583861 86813 38216 467606 445897 554419 484113 X 1818979 2099748 1818979 2099748 2373398 2583861 280769 0 X X 0 1 X 1 0 94016 68420 25596 25596 DEPOSITS 41824 COSTS ON LOAN CONTRACTS 32500 DESIGNATED RESERVE FUNDS 74409 OPERATING LEASE RIGHT-OF-USE-ASSET 277580 426313 CLIENT DEPOSITS 31000 ACCRUED PERSONNEL COSTS 131620 OPERATING LEASE - CURRENT 38352 OPERATING LEASE LIABILITY- LONG-TERM 244925 445897 X X X X X 0 0 0 0 0 1 0 1 0 JONATHAN SAGE-MARTINSON ASSISTANT SECRETARY/ CEO 204057 0 33151 0 0 0 11389 0 23630 0 272227 0 0 0 ANDREW CLAUSEN ASSISTANT TREASURER 172795 0 7578 0 0 0 9544 0 26618 0 216535 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. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR. 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 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0