2026-04-14T13:13:17-05:00 2025-12-31 390747409 REILLY PENNER & BENTON LLP 1233 NORTH MAYFAIR RD SUITE 302 MILWAUKEE WI 532263255 990 2025-01-01 203851261 WASHINGTON COUNTY ECONOMIC DEVELOPMENT CORPORATION WASH 2623355769 2200 GREEN TREE ROAD WEST BEND WI 53090 CHRISTIAN TSCHESCHLOK CHIEF EXECUTIVE OFFICER 2623355769 2026-04-08 1 CARRIE GINDT P00997435 4142717800 2026-04-08 2025 2025-03-06 01:10:19Z CHRISTIAN TSCHESCHLOK 2200 GREEN TREE ROAD WEST BEND WI 53090 1086822 0 X WWW.EDWC.ORG X 2006 WI FUELING GROWTH COMPANIES FOR THE CREATION OF QUALITY JOBS AND ECONOMIC PROSPERITY COUNTYWIDE. 15 14 0 22 0 0 40225 37260 1139483 996949 27131 52613 0 0 1206839 1086822 0 7845 0 0 490012 519250 0 0 0 441467 430259 931479 957354 275360 129468 1557525 2299565 768643 1381215 788882 918350 X FUELING GROWTH COMPANIES FOR THE CREATION OF QUALITY JOBS AND ECONOMIC PROSPERITY COUNTYWIDE. IN SO DOING, THE ORGANIZATION EMPOWERS COMPANIES AND RESIDENTS WITH THE TOOLS, RESOURCES ANDSTRATEGIC GUIDANCE THEY NEED TO GROW, INNOVATE, AND CREATE LASTING ECONOMIC IMPACT. THEY LEVERAGE NEWPRIVATE SECTOR INVESTMENT TO SUCCESSFULLY ACCELERATE BUSINESS GROWTH IN WASHINGTON COUNTY, PROVIDE CATALYTICIMPACT WITHIN COMMUNITIES AND GENERATE QUALITY OPPORTUNITIES FOR WORKERS. 1 0 879130 996949 EDWC WORKS TO SHAPE A PROSPEROUS FUTURE FOR WASHINGTON COUNTY BY SUPPORTING BUSINESS AND RESIDENT SUCCESS ONE INVESTMENT, ONE JOB, AND ONE OPPORTUNITY AT A TIME. MORE SPECIFICALLY, THE ORGANIZATION PROVIDES DEVELOPMENT CONSULTING TO BUSINESSES AND COMMUNITIES THROUGH THE DEEP EXPERTISE OF HIGHLY EXPERIENCED PROFESSIONALS, STRUCTURES DEALS, UNDERWRITES AND CLOSES ON INCENTIVE FINANCING TO BUSINESSES, ENGAGES IN HIGHIMPACT DEVELOPMENT AND REDEVELOPMENT WORK, ADMINISTERS AND MANAGES VARIOUS INCENTIVE PROGRAMS, ENCOURAGES ENTREPRENEURSHIP, OFFERS POWERFUL INSIGHTS THROUGH DATA ANALYTICS AND PROVIDES RESIDENTS, WORKERS AND DEVELOPERS WITH RESOURCES TO MAKE ACHIEVEMENT OF THE AMERICAN DREAM THROUGH HOMEOWNERSHIP MORE ATTAINABLE. EDWC MEASURES THE IMPACT OF ITS WORK THROUGH VARIOUS MEASURABLES THAT INCLUDE BUT ARE NOT LIMITED TO JOBS (CREATED, UPSKILLED AND RETAINED), PRIVATE CAPITAL INVESTMENT, ACRES OF REDEVELOPMENT, DEALS WON AND NET PUBLIC FISCAL BENEFIT. 7845 7845 NEW FRONTIERS - EXPLORE INNOVATION AND STRATEGIC OPPORTUNITIES.- COLLABORATE ON AI MANUFACTURING PILOT - JOINTLY LAUNCH AN AI ADOPTION PILOT WITH THE MILWAUKEE TECH HUB COALITION TO SUPPORT MID-SIZED MANUFACTURERS IN INTEGRATING AI SOLUTIONS THROUGH HANDS-ON CONSULTING, EDUCATION, AND FINANCING SUPPORT THROUGH THE IMPACT LOAN FUND.- LAUNCH A FLAGSHIP REAL ESTATE DEVELOPMENT PROJECT - SELECT AND INVEST IN A HIGH-IMPACT SITE, SUCH AS A COMMUNITY-CENTERED FLEX SPACE OR A STRATEGIC REDEVELOPMENT OPPORTUNITY, AND PARTNER WITH LOCAL STAKEHOLDERS TO TRANSFORM IT INTO A VIBRANT COMMUNITY ASSET THAT EDWC MAY EITHER RETAIN OR SPIN OFF.- CATALYZE CHILDCARE ACCESS SOLUTIONS - CONVENE AND ENABLE PARTNERSHIPS AMONG EMPLOYERS, PROVIDERS, AND LOCAL GOVERNMENTS TO EXPAND LICENSED CHILDCARE CAPACITY , PILOT INNOVATION STAFFING AND FUNDING MODELS, AND ADDRESS THE WORKFORCE NEEDS AT BOTH ENDS OF THE SPECTURM - SUPPORTING WORKING FAMILIES WHILE STRENGTHENING THE PIPELINE OF CHILDCARE PROFESSIONALS. 886975 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 8 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 0 0 WI X CHRISTIAN TSCHESCHLOK 2623355769 2200 GREEN TREE ROAD WEST BEND WI 53090 DAVE GOODNO PRESIDENT 1.00 X X 0 0 0 ISAIAH RICHIE PAST PRESIDENT 1.00 X X 0 0 0 FRED RECKNER TREASURER 1.00 X X 0 0 0 TAMI WINKLER SECRETARY 1.00 X X 0 0 0 ADAM KUJATH MEMBER AT LARGE 1.00 X 0 0 0 BONNIE BAERWALD BOARD MEMBER 1.00 X 0 0 0 AARON DAUL BOARD MEMBER 1.00 X 0 0 0 MARGARET WILBER BOARD MEMBER 1.00 X 0 0 0 WENDY LECHUSZ BOARD MEMBER 1.00 X 0 0 0 PAT THOMEY BOARD MEMBER 1.00 X 0 0 0 STEVE VOLKERT BOARD MEMBER 1.00 X 0 0 0 ANALIESE SMITH BOARD MEMBER 1.00 X 0 0 0 DAVID ERTMER BOARD MEMBER 1.00 X 0 0 0 ALLEN ERICSON BOARD MEMBER 1.00 X 0 0 0 ASHLEY SONSTHAGEN BOARD MEMBER 1.00 X 0 0 0 CHRISTIAN TSCHESCHLOK CHIEF EXECUTIVE OFFICER 40.00 X 168211 0 17142 168211 0 17142 1 0 1 0 0 37260 37260 REVOLVING LOAN FUND FE 900099 803144 803144 CONSULTING 900099 144282 144282 REVOLVING LOAN FUNDS R 900099 29398 29398 SUBSCRIPTION REVENUE 900099 20125 20125 996949 52613 52613 1086822 996949 0 52613 1845 1845 6000 6000 185353 176085 9268 253738 221273 32465 10063 8769 1294 34798 30942 3856 35298 31879 3419 12622 12622 11045 8836 2209 77505 69033 8472 35019 35019 7195 4759 2436 5570 5031 539 9859 8904 955 4098 3701 397 6396 5776 620 14988 13536 1452 2689 2689 LOAN LOSS RESERVE 189111 189111 DEEPENING THE TOOLBOX P 30807 30807 RLF EXPENSES 17424 17424 SPECIAL PROJECTS AND WO 2758 2758 3173 2865 308 957354 886975 70379 0 331069 221050 1083032 1666487 93361 58402 24686 21784 230838 14988 0 215850 25377 115992 1557525 2299565 86604 79720 253941 167150 66545 514889 981009 768643 1381215 X 788882 918350 788882 918350 1557525 2299565 129468 0 X X 1 X 0 1 0 0 1 X 165358 5512 159846 65480 9476 56004 215850 OPERATING LEASE RIGHT OF USE ASSET 115992 115992 LOAN LOSS RESERVE 704000 OPERATING LEASE LIABILITY 277009 981009 X PART IV, LINE 2B: EDWC HOLDS FUNDS IN AN AGENCY CAPACITY FOR WASHINGTON COUNTY FOR THE HEART & HOMESTEAD EARNED DOWN PAYMENT INCENTIVE PROGRAM. THESE FUNDS ARE NOT ASSETS OF EDWC BUT ARE HELD FOR THE BENEFIT OF THE DESIGNATED BENEFICIARIES IN ACCORDANCE WITH SPECIFIC AGREEMENTS. EDWC'S ROLE IS THAT OF AN AGENT, AND IT HAS NO DISCRETION OVER THE USE OF THE FUNDS BEYOND THE TERMS SPECIFIED BY THE AGREEMENTS. AS OF DECEMBER 31, 2025 AND 2024, EDWC HOLDS $66,545 AND $167,150, RESPECTIVELY, IN AGENCY FUNDS, WHICH ARE RECORDED AS A LIABILITY AND CASH - RESTRICTED ON THE STATEMENT OF FINANCIAL POSITION. THESE FUNDS ARE NOT CONSIDERED PART OF EDWC'S NET ASSETS AS THEY ARE NOT AVAILABLE FOR GENERAL USE. THE LIABILITY WILL BE SETTLED WHEN THE FUNDS ARE DISTRIBUTED TO THE ELIGIBLE APPLICANTS, IN ACCORDANCE WITH THE TERMS OF THE AGENCY ARRANGEMENTS PART X, LINE 2: EDWC OPERATES AS A NOT-FOR-PROFIT ORGANIZATION EXEMPT UNDER SECTION 501(C)(4) OF THE U.S. INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. EDWC HAS IMPLEMENTED ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THIS STANDARD DESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND PROVIDES GUIDANCE ON VARIOUS RELATED MATTERS SUCH AS DERECOGNIZING, INTEREST, PENALTIES AND DISCLOSURE REQUIRED. MANAGEMENT EVALUATES THE UNCERTAIN TAX POSITIONS TAKEN, IF ANY, AND CONSULTS WITH OUTSIDE COUNSEL AS DEEMED NECESSARY. EDWC RECOGNIZES INTEREST AND PENALTIES, IF ANY, RELATED TO UNRECOGNIZED TAX LIABILITIES IN INCOME TAX EXPENSE. MANAGEMENT DOES NOT BELIEVE THERE ARE ANY UNCERTAIN TAX POSITIONS. 0 SCHOLARSHIPS 9 6000 X 0 0 0 1 0 1 0 0 0 CHRISTIAN TSCHESCHLOK CHIEF EXECUTIVE OFFICER 136182 0 32029 0 0 0 6807 0 10335 0 185353 0 0 0 PART I, LINE 5 ALL EMPLOYEES PARTICIPATE IN A BONUS PROGRAM THAT SETS MISSION-CENTERED PERFORMANCE METRICS ON A QUARTERLY BASIS AND REWARDS EMPLOYEES WITH ADDITIONAL CONTINGENT COMPENSATION WHEN ACHIEVING OR EXCEEDING THOSE MEASURES. THE METRICS CAN VARY QUARTER-TO-QUARTER AND DO INCLUDE BOTH INDIVIDUAL AND ORGANIZATIONAL OBJECTIVES. MEASURES BASED ON REVENUES AND/OR REVENUE CATEGORIES WERE INCLUDED IN THE PERFORMANCE METRICS. PART I, LINE 6 ALL EMPLOYEES PARTICIPATE IN A BONUS PROGRAM THAT SETS MISSION-CENTERED PERFORMANCE METRICS ON A QUARTERLY BASIS AND REWARDS EMPLOYEES WITH ADDITIONAL CONTINGENT COMPENSATION WHEN ACHIEVING OR EXCEEDING THOSE MEASURES. THE METRICS CAN VARY QUARTER-TO-QUARTER AND DO INCLUDE BOTH INDIVIDUAL AND ORGANIZATIONAL OBJECTIVES. MEASURES BASED ON NET EARNINGS WERE INCLUDED IN THE PERFORMANCE METRICS. PAT THOMEY BOARD MEMBER 16600 RLF PROCESSING 0 SCHEDULE L PART IV A BOARD MEMBER IS A SHAREHOLDER OF CFO PLUS AND THROUGH THAT COMPANY, HE OVERSEES ALL REVOLVING LOAN FUND (RLF) PROCESSES FOR THE ORGANIZATION. FORM 990, PART III, LINE 2 NEW FRONTIERS - EXPLORE INNOVATION AND STRATEGIC OPPORTUNITIES. - COLLABORATE ON AI MANUFACTURING PILOT - JOINTLY LAUNCH AN AI ADOPTION PILOT WITH THE MILWAUKEE TECH HUB COALITION TO SUPPORT MID-SIZED MANUFACTURERS IN INTEGRATING AI SOLUTIONS THROUGH HANDS-ON CONSULTING, EDUCATION, AND FINANCING SUPPORT THROUGH THE IMPACT LOAN FUND. - LAUNCH A FLAGSHIP REAL ESTATE DEVELOPMENT PROJECT - SELECT AND INVEST IN A HIGH-IMPACT SITE, SUCH AS A COMMUNITY-CENTERED FLEX SPACE OR A STRATEGIC REDEVELOPMENT OPPORTUNITY, AND PARTNER WITH LOCAL STAKEHOLDERS TO TRANSFORM IT INTO A VIBRANT COMMUNITY ASSET THAT EDWC MAY EITHER RETAIN OR SPIN OFF. - CATALYZE CHILDCARE ACCESS SOLUTIONS - CONVENE AND ENABLE PARTNERSHIPS AMONG EMPLOYERS, PROVIDERS, AND LOCAL GOVERNMENTS TO EXPAND LICENSED CHILDCARE CAPACITY , PILOT INNOVATION STAFFING AND FUNDING MODELS, AND ADDRESS THE WORKFORCE NEEDS AT BOTH ENDS OF THE SPECTURM - SUPPORTING WORKING FAMILIES WHILE STRENGTHENING THE PIPELINE OF CHILDCARE PROFESSIONALS. FORM 990, PART VI, SECTION A, LINE 4 IN FEBRUARY 2025, EDWC'S BOARD OF DIRECTORS APPROVED SUBSTANTIVE REVISIONS TO ITS BYLAWS. THOSE REVISIONS WERE LATER INCORPORATED INTO THE AMENDED BYLAWS SIGNED ON APRIL 24, 2025. THE REVISIONS UPDATED EDWC'S TERMINOLOGY, GOVERNANCE STRUCTURE, EXECUTIVE ROLE DEFINITIONS, COMMITTEE STRUCTURE, AND FINANCIAL OVERSIGHT PROVISIONS SO THE DOCUMENT BETTER REFLECTS EDWC'S CURRENT OPERATIONS. BELOW IS THE SUMMARY OF MATERIAL CHANGES THAT WERE MADE: - BRANDING/TERMINOLOGY. CHANGED THE D/B/A FROM "ECONOMIC DEVELOPMENT WASHINGTON COUNTY" TO "EDWC AND CHANGED MEMBER TERMINOLOGY FROM "INVESTORS" IN THE PRIOR BY-LAWS TO "CONTRIBUTORS" IN THE FINAL REVISED BY-LAWS. - BOARD AUTHORITY. EXPRESSLY ADDED BOARD RESPONSIBILTY TO APPROVE THE ANNUAL BUDGET AND ANNUAL STRATEGIC ACTION PLAN, OVERSEE ADVANCEMENT OF EDWC'S MISSION, AND SUPERVICE THE CHIEF EXECUTIVE ROLE. - OFFICER TERMS. REVISED OFFICER TENURE SO THE PRESIDENT AND VICE-PRESIDENT MAY SERVE UP TO TWO CONSECUTIVE TWO-YEAR TERMS, PLUS A ONE-YEAR EXTENSION IF ANOTHER PRESIDENT IS NOT ELECTED; ALSO FORMALIZED THE PAST PRESIDENT ROLE. - EXECUTIVE COMMITTEE. REWORKED THE COMMITTEE'S COMPOSITION AND DUTIES BY ADDING THE PAST PRESIDENT IF AVAILABLE, ALLOWING UP TO TWO AT-LARGE BOARD MEMBERS, AND EMPHASIZING BOARD SUPPORT, CEO OVERSIGHT, AND CONTINUITY OF OPERATIONS WHEN NO CEO IS IN PLACE OR AVAILABLE. - STANDING COMMITTEE. CHANGED STANDING COMMITTEE FROM MANDATORY TO DISCRETIONARY AND UPDATED EXHIBIT C TO STATE THAT NO STANDING COMMITTEES WERE ESTABLISHED AS OF APRIL 24, 2025 UNLESS CREATED BY BOARD RESOLUTION. - LOAN COMMITTEE. RENAMED THE REVOLVING LOAN FUND COMMITTEE AS THE IMPACT LOAN FUND COMMITTEE WHILE CONTINUING ITS SPECIALIZED, QUASI-INDEPENDENT LENDING ROLE. - FINANCIAL OVERSIGHT. BROADENED THE FINANCIAL OVERSIGHT PROVISION SO EDWC MAY HAVE EITHER AN ANNUAL AUDIT OR AN ANNUAL REVIEW, AS DETERMINED BY THE BOARD, RATHER THAN REQUIRING AN AUDIT IN ALL CASES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED PRIOR TO ISSUANCE BY MANAGEMENT AND THE TREASURER. THE BOARD WILL RECEIVE THE FORM 990 PRIOR TO ISSUANCE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY AT THE BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE PERFORMANCE OF THE EXECUTIVE DIRECTOR EACH YEAR. HIS PERFORMANCE IS ASSESSED AGAINST GOALS PREVIOUSLY SET AND HIS COMPENSATION IS COMPARED TO DATA RECEIVED. FORM 990, PART VI, SECTION C, LINE 19 FORM 990, GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FROM THE BUSINESS OFFICE WITHIN 24 HOURS. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM PRIOR YEARS.