Nonprofit · EIN 36-3414363
ROCHESTER AREA ECONOMIC DEVELOPMENT INC REDI
Tax-exempt · ROCHESTER, MN 55902
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,412,451 | $1,390,037 | $22,414 | $4,648,769 | $41,823 | $4,606,946 |
| December 31, 2023 | 990 | $1,659,191 | $1,374,984 | $284,207 | $4,653,364 | $68,832 | $4,584,532 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $913,104
- of which government grants
- $150,000
- Membership dues
- $591,324
- Program service revenue
- $400,954
- Investment income
- $91,190
- Net rental income
- $7,203
- Other revenue
- $7,203
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $214,436
- Other salaries and wages
- $584,524
- Salaries, compensation and benefits (total)
- $1,011,086
- Professional fundraising fees
- $0
- Legal fees
- $1,866
- Accounting fees
- $36,855
- Occupancy
- $744
- Travel
- $18,619
- Depreciation
- $40,510
Balance sheet and other
- Total assets, start of year
- $4,653,364
- Total assets, end of year
- $4,648,769
- Total liabilities, end of year
- $41,823
- Net assets, end of year
- $4,606,946
- Land, buildings and equipment
- $142,816
- Net assets without donor restrictions
- $4,158,736
- Net assets with donor restrictions
- $448,210
- Gross receipts
- $1,630,677
- Employees
- 8
- Volunteers
- 20
- Year formed
- 1986
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOHN WADE | PRESIDENT Trustee or director, Officer | 40 | $185,049 | $29,387 |
| TAWONDA BURKS | DIRECTOR OF OPERATIONS Highest-paid employee | 40 | $123,600 | $18,945 |
| KIRK BUSTROM | DIRECTOR OF ECONOMIC DEVELOPMENT Highest-paid employee | 40 | $102,377 | $20,432 |
| ADAM BENIKE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JARETT JONES | CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| MELISSA BRINKMAN | PAST CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| JOHN BEATTY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ANGIE BOWMAN-MALLOY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JULIE HENRY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| SAM SLIGHTAM | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CHAD DECOOK | DIRECTOR Trustee or director | 2 | $0 | $0 |
| NORM DOTY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| BRUCE GUDLIN | DIRECTOR Trustee or director | 2 | $0 | $0 |
| TIM MCCOLLOUGH | DIRECTOR Trustee or director | 2 | $0 | $0 |
| HEIDI WELSCH | DIRECTOR Trustee or director | 2 | $0 | $0 |
8 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ALISON ZELMS | DIRECTOR Trustee or director | 2 | $0 |
| MICHELLE PYFFEROEN | DIRECTOR Trustee or director | 2 | $0 |
| DIANNA ROBINSON | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| PATRICK SEEB | DIRECTOR Trustee or director | 2 | $0 |
| ERIN SEXTON | SECRETARY/TREASURER Trustee or director, Officer | 2 | $0 |
| MIKE HENKE | DIRECTOR Trustee or director | 2 | $0 |
| DHARANI RAMAMOORTHY | DIRECTOR Trustee or director | 2 | $0 |
| JOHN REED | DIRECTOR Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 22 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOHN WADE | PRESIDENT Trustee or director, Officer | 40 | $169,950 | $28,502 |
| ADAM BENIKE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JARET JONES | CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| MELISSA BRINKMAN | PAST CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| JOHN BEATTY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ANGIE BOWMAN-MALLOY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JULIE HENRY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| SAM SLIGHTAM | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CHAD DECOOK | DIRECTOR Trustee or director | 2 | $0 | $0 |
| NORM DOTY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| BRUCE GUDLIN | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JOYA STETSON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ELIZABETH HOWARD | DIRECTOR Trustee or director | 2 | $0 | $0 |
| TIM MCCOLLOUGH | DIRECTOR Trustee or director | 2 | $0 | $0 |
| HEIDI WELSCH | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ALISON ZELMS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JANNA MONOSMITH RESIGNED | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MICHELLE PYFFEROEN | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DIANNA ROBINSON | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| PATRICK SEEB | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ERIN SEXTON | SECRETARY/TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| JOEL YOUNG | DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 221 1ST AVE SW STE 600, ROCHESTER, MN 55902-3295
- Principal officer (990 for 2024)
- JOHN WADE, 221 FIRST AVENUE SW SUITE 600, ROCHESTER, MN 55902
- Signed the 990
- JOHN WADE, PRESIDENT
- Phone
- (507) 288-0208
- Website
- WWW.RAEDI.COM
- Return prepared by
- SMITH SCHAFER AND ASSOC LTD
Mission
RAEDI'S MISSION IS TO LEAD AND SUPPORT ECONOMIC, COMMUNITY, AND WORKFORCE DEVELOPMENT INITIATIVES THAT GROW, AND DIVERSIFY THE GREATER ROCHESTER AREA ECONOMY.
Program accomplishments
- PROMOTE AND FACILITATE BUSINESSES CONSIDERING ROCHESTER MSA AS A PLACE TO DO BUSINESS.
- OPERATE THE BUSINESS ACCELERATOR PROGRAM.
- INVEST IN COMPANIES WHO HELP GROW AND DIVERSIFY THE ECONOMIC BASE.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 36-3414363
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1986
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $4,648,769
- Income (IRS master file)
- $1,630,677
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,412,451 | $1,390,037 | $4,648,769 | XML |
| 990 | December 2023 | $1,659,191 | $1,374,984 | $4,653,364 | XML |
| 990 | December 2022 | $925,215 | $1,287,835 | $4,399,928 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 36-3414363).
Questions about ROCHESTER AREA ECONOMIC DEVELOPMENT INC REDI
- What is the EIN of ROCHESTER AREA ECONOMIC DEVELOPMENT INC REDI?
- The employer identification number (EIN) of ROCHESTER AREA ECONOMIC DEVELOPMENT INC REDI is 36-3414363.
- Is ROCHESTER AREA ECONOMIC DEVELOPMENT INC REDI tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1986.
- Are donations to ROCHESTER AREA ECONOMIC DEVELOPMENT INC REDI tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does ROCHESTER AREA ECONOMIC DEVELOPMENT INC REDI file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ROCHESTER AREA ECONOMIC DEVELOPMENT INC REDI due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ROCHESTER AREA ECONOMIC DEVELOPMENT INC REDI last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of ROCHESTER AREA ECONOMIC DEVELOPMENT INC REDI?
- The 990 for the year ended December 31, 2024 names JOHN WADE.
- Who are the officers and directors of ROCHESTER AREA ECONOMIC DEVELOPMENT INC REDI?
- The 990 for the year ended December 31, 2024 lists 23 people; 3 received compensation from the organization, the highest $185,049 (JOHN WADE, PRESIDENT).
- How much revenue does ROCHESTER AREA ECONOMIC DEVELOPMENT INC REDI have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,412,451, expenses of $1,390,037 and total assets of $4,648,769 at year end.
Other nonprofits in ROCHESTER
- MAYO CLINIC GROUP RETURN EIN 38-3952644 · last filed 990 for 2024
- MAYO CLINIC EIN 41-6011702 · last filed 990 for 2024
- OLMSTED MEDICAL CENTER EIN 41-0855367 · last filed 990 for 2024
- INDEPENDENT SCHOOL DISTRICT NO 535 HEALTH & DENTAL CARE EIN 41-6255919 · last filed 990 for 2025
- CHANNEL ONE INC EIN 41-1379713 · last filed 990 for 2025
- ZUMBRO VALLEY HEALTH CENTER INC EIN 41-6052022 · last filed 990 for 2024
- CHILD CARE RESOURCE AND REFERRAL INC EIN 41-0987753 · last filed 990 for 2024
- FIRST ALLIANCE CREDIT UNION EIN 41-0429399 · last filed 990 for 2024