2026-09-16T16:28:31-05:00 2025-12-31 390974031 WEGNER CPAS LLP 101 E MILWAUKEE STREET JANESVILLE WI 53545 990 2025-01-01 391981445 THE GREATER BELOIT ECONOMIC DEVELOPMENT CORPORATION GREA 6083646610 100 STATE STREET BELOIT WI 53511 DREW PENNINGTON PRESIDENT/CEO 6083646610 2026-09-16 1 MIKE HABLEWITZ CPA P01259157 6087564020 2026-09-16 2025 DREW PENNINGTON 100 STATE STREET BELOIT WI 53511 549476 0 X GREATERBELOITWORKS.COM X 1999 WI TO FURTHER THE ECONOMIC DEVELOPMENT OF GREATER BELOIT EXCLUSIVELY THROUGH CHARITABLE & EDUCATIONAL ACTIVITIES. 41 41 0 44 8009 5765 0 0 131150 127400 7778 35182 22861 26058 161789 188640 0 0 0 0 0 0 0 0 5154 177560 161123 177560 161123 -15771 27517 1261016 1288533 0 0 1261016 1288533 THE MISSION OF THE GREATER BELOIT ECONOMIC DEVELOPMENT CORPORATION ("CORPORATION") IS TO FOSTER INVESTMENT AND JOB GROWTH IN THE ECONOMY THEREBY IMPROVING THE QUALITY OF LIFE, EDUCATIONAL ATTAINMENT, HOUSING AVAILABILITY AND PROSPERITY FOR ALL IN THE GREATER BELOIT REGION. 0 0 92990 0 127400 THE GREATER BELOIT ECONOMIC DEVELOPMENT CORPORATION'S PROGRAM SERVICES ARE ORGANIZED TO FOSTER INVESTMENT AND JOB GROWTH IN THE ECONOMY THEREBY IMPROVING THE QUALITY OF LIFE, EDUCATIONAL ATTAINMENT, HOUSING AVAILABILITY AND PROSPERITY FOR ALL IN THE GREATER BELOIT REGION. 92990 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 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 1 0 0 0 1 4 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 41 41 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 0 0 0 WI X DREW PENNINGTON 6083646748 100 STATE STREET BELOIT WI 53511 TIM OSWALD CHAIR 1.00 X X 0 0 0 ANN HANKINS VICE-CHAIR 1.00 X X 0 0 0 MIKE POKEL SECRETARY/TREASURER 1.00 X X 0 0 0 REGINA DUNKIN IMMEDIATE PAST CHAIR 1.00 X 0 0 0 ALISON HESS DIRECTOR 1.00 X 0 0 0 ELIZABETH HORVATH DIRECTOR 1.00 X 0 0 0 SETH FRISBEE DIRECTOR 1.00 X 0 0 0 DR TRACY PIERNER DIRECTOR 1.00 X 0 0 0 JERRY KLOBUCAR DIRECTOR 1.00 X 0 0 0 COLLIN KEETON DIRECTOR 1.00 X 0 0 0 ROB RAMER DIRECTOR 1.00 X 0 0 0 JERRY RITZERT DIRECTOR 1.00 X 0 0 0 DR KRISTI COLE DIRECTOR 1.00 X 0 0 0 COLE WEISER DIRECTOR 1.00 X 0 0 0 SHAWN SULLIVAN DIRECTOR 1.00 X 0 0 0 DR WILLIE GARRISON II DIRECTOR 1.00 X 0 0 0 DR DENNIS MCCARTHY DIRECTOR 1.00 X 0 0 0 SONYA HOPPES DIRECTOR 1.00 X 0 0 0 JEFF VOHS DIRECTOR 1.00 X 0 0 0 HOMER AUGE DIRECTOR 1.00 X 0 0 0 NANCY CLARK-MATHER DIRECTOR 1.00 X 0 0 0 KEVIN KING DIRECTOR 1.00 X 0 0 0 DAN RISSE DIRECTOR 1.00 X 0 0 0 TIM WELLNITZ DIRECTOR 1.00 X 0 0 0 NICK DIMASSIS DIRECTOR 1.00 X 0 0 0 SCOTT KUNES DIRECTOR 1.00 X 0 0 0 MARC PERRY DIRECTOR 1.00 X 0 0 0 MARK RAND DIRECTOR 1.00 X 0 0 0 TARA TINDER DIRECTOR 1.00 X 0 0 0 JERRY GABRIELATOS DIRECTOR 1.00 X 0 0 0 TAMI SCARPETTA DIRECTOR 1.00 X 0 0 0 SHELBY VISINTIN DIRECTOR 1.00 X 0 0 0 ANDREW ROGERS DIRECTOR 1.00 X 0 0 0 ROSEANN HAEDT DIRECTOR 1.00 X 0 0 0 FRANK MCKEARN DIRECTOR 1.00 X 0 0 0 JARON COMBS DIRECTOR 1.00 X 0 0 0 LAURA BENISCH DIRECTOR 1.00 X 0 0 0 TIM LESLIE DIRECTOR 1.00 X 0 0 0 NIK BUTENHOFF DIRECTOR 1.00 X 0 0 0 DR WAYNE ANDERSON DIRECTOR 1.00 X 0 0 0 ELIZABETH KRUEGER DIRECTOR 1.00 X 0 0 0 DREW PENNINGTON PRESIDENT/CEO 20.00 20.00 X 0 144522 40442 0 144522 40442 0 0 1 0 0 INVESTOR DUES 900099 127400 127400 127400 7935 7935 18049 8500 0 491 18049 8009 26058 8009 18049 387592 360345 27247 27247 27247 188640 127400 8009 53231 39999 27999 10000 2000 10500 10500 14276 14276 3238 3238 47118 32982 11780 2356 848 594 212 42 8004 5602 2001 401 10 7 3 4068 2849 1015 204 2198 2198 3027 2119 757 151 LAND DEVELOPMENT COST 20838 20838 DUES & SUBSCRIPTIONS 5835 5835 TAX EXPENSE 638 638 526 526 161123 92990 62979 5154 49018 181148 242881 500811 615366 8792 969117 606574 1261016 1288533 0 0 X 1261016 1288533 1261016 1288533 1261016 1288533 27517 0 X 0 1 X 1 0 X X 1 CITY OF BELOIT 396005397 6 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART IV, SECTION C, LINE 1 THE GREATER BELOIT ECONOMIC DEVELOPMENT CORPORATION UTILIZES CITY OF BELOIT EMPLOYEES SUCH AS THE CHIEF EXECUTIVE OFFICER, THE ADMINISTRATIVE ASSISTANT, AND OTHERS AS NEEDED FOR SPECIFIC ACTIVITIES. THE BOARD OF DIRECTORS, JOINTLY WITH THE CITY OF BELOIT CITY MANAGER, SHALL SELECT A PRESIDENT/CEO OF THE CORPORATION, THROUGH EMPLOYMENT OR CONTRACT FOR SERVICES. THE PRESIDENT/CEO SHALL BE THE CHIEF EXECUTIVE OFFICER OF THE CORPORATION WITH ALL OF THE AUTHORITY COMMON TO THE OFFICE OF THE PRESIDENT OF A BUSINESS CORPORATION. THE PRESIDENT/CEO SHALL SERVE AT THE PLEASURE OF AND REPORT TO THE BOARD OF DIRECTORS AND CITY OF BELOIT CITY MANAGER. 606574 606574 8792 8792 0 606574 238980 49849 49849 189131 -491 -491 188640 211463 49849 491 50340 161123 0 161123 PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT EXPENSES REPORTED ON 990, PART VII, LINE 6B -491. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES REPORTED ON 990, PART VII, LINE 6B 491. 0 0 0 0 0 0 0 0 0 DREW PENNINGTON PRESIDENT/CEO 0 143890 0 0 0 632 0 10452 0 29990 0 184964 0 0 SCHEDULE J, PART I, LINE 3: THE COMPENSATION, TERMS AND CONDITIONS OF APPOINTMENT AND SERVICES TO BE RENDERED TO THE CORPORATION, OF THE PRESIDENT/CEO, SHALL BE ESTABLISHED BY THE BOARD OF DIRECTORS, JOINTLY WITH THE CITY OF BELOIT CITY MANAGER, AND UPDATED ANNUALLY, OR MORE FREQUENTLY AS DEEMED APPROPRIATE BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 ANY INDIVIDUAL OR ENTITY HAVING AN INTEREST IN ECONOMIC DEVELOPMENT ACTIVITIES WITHIN THE GREATER BELOIT REGION MAY BECOME AN INVESTOR OF THIS CORPORATION, INCLUDING BUT NOT LIMITED TO INDIVIDUALS, REPRESENTATIVES FROM BUSINESS, INDUSTRY, REAL ESTATE, DEVELOPERS, CONTRACTORS, FINANCIAL INSTITUTIONS, ECONOMIC DEVELOPMENT PARTNERS, EDUCATION PARTNERS, NOT-FOR-PROFIT ORGANIZATIONS, AND LOCAL GOVERNMENT JURISDICTIONS. INDIVIDUAL INVESTORS ARE ALLOWED IF THEY ARE ABLE TO DEMONSTRATE THEIR PRIOR CONTRIBUTIONS AS A REGULAR INVESTOR REPRESENTATIVE, OR HAVE A HISTORY IN ECONOMIC DEVELOPMENT, OR SKILLS AND RESOURCES TO CONTRIBUTE TO THE BETTERMENT OF THE INVESTORSHIP. NON-INDIVIDUAL INVESTORS SHOULD BE ABLE TO DEMONSTRATE THAT THEY ARE AN ENTITY IN GOOD STANDING WITH THE WISCONSIN DEPARTMENT OF FINANCIAL INSTITUTIONS OR THE ILLINOIS OFFICE OF THE SECRETARY OF STATE BUSINESS SERVICES DEPARTMENT. INVESTMENT APPLICATIONS SHALL BE PROVIDED BY THE CORPORATION TO ANY INTERESTED APPLICANT, AND THE COMPLETED APPLICATION SUBMITTED TO THE EXECUTIVE COMMITTEE FOR REVIEW AND FINAL APPROVAL. EACH DUES PAYING INDIVIDUAL INVESTOR SHALL HAVE ONE (1) VOTE ON ALL ISSUES COMING BEFORE ANY GBEDC COMMITTEES THAT HE/SHE SERVES ON BUT WILL NOT BE ELIGIBLE FOR A VOTE ON THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A DIRECTORS: DIRECTORS SHALL BE ELECTED FROM THE NON-PROFIT, PUBLIC SECTOR OR PRIVATE SECTOR INVESTORS AND SHALL NOT EXCEED TWENTY-FIVE (25) ELECTED DIRECTORS. DIRECTORS SHALL BE ELECTED FOR A THREE (3) YEAR TERM OF OFFICE AT THE ANNUAL MEETING BY THE INVESTORSHIP PRESENT. NO PERSON SHALL SERVE MORE THAN TWO (2) CONSECUTIVE TERMS OF OFFICE. FOLLOWING THE EXPIRATION OF ONE (1) YEAR AFTER HIS/HER LAST TERM OF OFFICE, SHALL AGAIN BE ELIGIBLE FOR REELECTION TO THE BOARD OF DIRECTORS. GOVERNMENT JURISDICTION DIRECTORS: ONE (1) ADDITIONAL DIRECTOR SHALL BE APPOINTED BY EACH LOCAL GOVERNMENT JURISDICTION INVESTOR AND SERVES AN INDEFINITE TERM OR UNTIL HE/SHE NO LONGER REPRESENTS THE GOVERNMENT JURISDICTION. COMMUNITY PARTNER DIRECTORS: THE BOARD CHAIR MAY ANNUALLY APPOINT NO MORE THAN FIVE (5) COMMUNITY PARTNER DIRECTORS, AS SUBJECT MATTER EXPERTS BASED ON THE CURRENT NEEDS OF THE CORPORATION. EDUCATION DIRECTORS: ONE (1) ADDITIONAL DIRECTOR SHALL BE APPOINTED BY EACH EDUCATION INVESTOR AND SERVES AN INDEFINITE TERM OR UNTIL HE/SHE NO LONGER REPRESENTS THE EDUCATION INVESTOR. EX-OFFICIO, NON-VOTING, MEMBERS: THE BOARD CHAIR MAY ANNUALLY APPOINT NO MORE THAN THREE (3) EX-OFFICIO, NON-VOTING MEMBERS REPRESENTING VISIT BELOIT, GREATER BELOIT CHAMBER OF COMMERCE AND DOWNTOWN BELOIT ASSOCIATION. FORM 990, PART VI, SECTION A, LINE 7B THE BYLAWS AND ARTICLES OF INCORPORATION MAY BE AMENDED BY TWO-THIRDS VOTE AT THE ANNUAL INVESTORSHIP MEETING, BUT NO AMENDMENT SHALL BE IN ORDER AT ANY MEETING UNLESS NOT LESS THAN FIFTEEN DAYS PREVIOUS NOTICE OF THE NATURE OF THE PROPOSED AMENDMENT SHALL HAVE BEEN GIVEN BY MAIL TO ALL INVESTORS. FORM 990, PART VI, SECTION B, LINE 11B STAFF REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C NO CONTRACT OR OTHER TRANSACTION BETWEEN THE GBEDC AND A DIRECTOR, OR ANY ENTITY IN WHICH A DIRECTOR OF THE DIRECTOR'S CLOSE RELATIVE IS A DIRECTOR OR OFFICER OR HAS A MATERIAL FINANCIAL INTEREST, IS VOID OR VOIDABLE BECAUSE OF THE RELATIONSHIP OR INTEREST OR BECAUSE THE DIRECTOR IS PRESENT AT THE MEETING OF THE BOARD OR A COMMITTEE THAT AUTHORIZES, APPROVES OR RATIFIES THE CONTRACT OR TRANSACTION OR BECAUSE THE DIRECTOR'S VOTE IS COUNTED FOR THAT PURPOSE, IF ANY ONE OF THE FOLLOWING APPLIES: A. THE RELATIONSHIP OR INTEREST IS DISCLOSED OR KNOWN TO THE BOARD OR COMMITTEE THAT AUTHORIZES, APPROVES OR RATIFIES THE CONTRACT OR TRANSACTION AND THE CONTRACT OR TRANSACTION WAS AUTHORIZED, APPROVED OR RATIFIED BY A VOTE OR CONSENT SUFFICIENT FOR THE PURPOSE WITHOUT COUNTING THE VOTES OR CONSENTS OF THE INTERESTED DIRECTORS. B. THE FACT OF SUCH RELATIONSHIP OR INTEREST IS DISCLOSED OR KNOWN TO THE MEMBERS ENTITLED TO VOTE AND THEY AUTHORIZE, APPROVE OR RATIFY THAT CONTRACT OR TRANSACTION BY VOTE OR WRITTEN CONSENT. C. THE CONTRACT OR TRANSACTION IS FAIR AND REASONABLE TO THE CORPORATION. IF THE MATTER IS THE ITEM OF BUSINESS FOR WHICH A SPECIAL MEETING OF THE BOARD OF DIRECTORS WAS CALLED, THE AFFECTED MEMBER SHALL NOT BE COUNTED TO ESTABLISH A QUORUM, NOR SHALL THE AFFECTED MEMBER PARTICIPATE IN THE DELIBERATIONS OR VOTE ON IT. FOR PURPOSES OF THIS POLICY, THE TERM "CLOSE RELATIVE" AS USED HEREIN SHALL MEAN ANY BROTHER OR SISTER OF ANY INDIVIDUAL COVERED BY THIS POLICY, THE FOREBEARS AND DESCENDANTS OF ANY PERSON COVERED BY THIS POLICY, OR OF SUCH INDIVIDUAL'S BROTHERS AND SISTERS, AND ANY SPOUSE OF ANY AFORESAID PERSONS. 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. CITY OF BELOIT 100 STATE STREET BELOIT WI 53511 396005397 CITY GOVERNMENT WI 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0