Nonprofit · EIN 41-1678990
SOUTHEASTERN MINNESOTA 504 DEVELOPMENT INC
Tax-exempt · ROCHESTER, MN 55904
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,092,839 | $578,264 | $514,575 | $1,958,238 | $29,011 | $1,929,227 |
| December 31, 2023 | 990 | $615,052 | $517,414 | $97,638 | $1,451,435 | $36,783 | $1,414,652 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $960,125
- Investment income
- $132,714
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $197,999
- Other salaries and wages
- $200,765
- Salaries, compensation and benefits (total)
- $439,281
- Professional fundraising fees
- $0
- Legal fees
- $6,430
- Accounting fees
- $16,500
- Occupancy
- $4,564
- Travel
- $14,936
- Depreciation
- $324
- Program services (functional)
- $497,635
- Management and general (functional)
- $80,629
Balance sheet and other
- Total assets, start of year
- $1,451,435
- Total assets, end of year
- $1,958,238
- Total liabilities, end of year
- $29,011
- Net assets, end of year
- $1,929,227
- Land, buildings and equipment
- $4,757
- Net assets without donor restrictions
- $1,929,227
- Gross receipts
- $1,092,839
- Employees
- 3
- Year formed
- 1990
- 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 |
|---|---|---|---|---|
| DWAYNE LEE | DIRECTOR OF Officer | 40 | $153,000 | $5,940 |
| DANIEL VLASAK | PRESIDENT Trustee or director, Officer | 2 | $0 | $0 |
| LUANN VANDERWERF | VICE PRESIDE Trustee or director, Officer | 2 | $0 | $0 |
| AARON CASTERTON | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| RICHARD WEGNER | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| TIM CLAWSON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| RON ZIEGLER | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MARK MONSON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DESIREE STROM | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DIANE LEWIS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| GARY TIMM | DIRECTOR Trustee or director | 2 | $0 | $0 |
| WENDELL SANDE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CHAD ANDERSON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| KYLE BENISH | DIRECTOR Trustee or director | 2 | $0 | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DWAYNE LEE | DIRECTOR OF Officer | 40 | $148,200 | $5,049 |
| DANIEL VLASAK | PRESIDENT Trustee or director, Officer | 2 | $0 | $0 |
| LUANN VANDERWERF | VICE PRESIDE Trustee or director, Officer | 2 | $0 | $0 |
| AARON CASTERTON | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| RICHARD WEGNER | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| TIM CLAWSON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| RON ZIEGLER | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MARK MONSON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DESIREE STROM | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DIANE LEWIS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| GARY TIMM | DIRECTOR Trustee or director | 2 | $0 | $0 |
| WENDELL SANDE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CHAD ANDERSON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| KYLE BENISH | DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1926 COLLEGE VIEW RD E, ROCHESTER, MN 55904-8201
- Principal officer (990 for 2024)
- DANIEL VLASAK
- Signed the 990
- DWAYNE LEE, DIRECTOR OF BUSINESS
- Phone
- (507) 288-6442
- Website
- WWW.504CORPORATION.COM
- Return prepared by
- JEFFREY D REIMER CPA PLLC
Mission
ASSIST SMALL BUSINESSES TO SECURE GOVERNMENT FINANCING FOR THE PURCHASE OF LAND, BUILDINGS, AND EQUIPMENT WHICH WILL CREATE AND/OR RETAIN JOBS IN MINNESOTA AND IN WISCONSIN.
Program accomplishments
- ASSIST SMALL BUSINESSES TO SECURE GOVERNMENT FINANCING FOR THE PURCHASE OF LAND, BUILDINGS, AND EQUIPMENT WHICH WILL CREATE AND/OR RETAIN JOBS IN MINNESOTA AND IN WISCONSIN.
- ASSIST SMALL BUSINESSES TO SECURE GOVERNMENT FINANCING FOR THE PURCHASE OF LAND, BUILDINGS, AND EQUIPMENT WHICH WILL CREATE AND/OR RETAIN JOBS IN MINNESOTA AND IN WISCONSIN.
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
- 41-1678990
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1991
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,958,238
- Income (IRS master file)
- $1,092,839
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,092,839 | $578,264 | $1,958,238 | IRS |
| 990 | December 2023 | $615,052 | $517,414 | $1,451,435 | XML |
| 990 | December 2022 | $649,867 | $538,484 | $1,378,886 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | 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 41-1678990).
Questions about SOUTHEASTERN MINNESOTA 504 DEVELOPMENT INC
- What is the EIN of SOUTHEASTERN MINNESOTA 504 DEVELOPMENT INC?
- The employer identification number (EIN) of SOUTHEASTERN MINNESOTA 504 DEVELOPMENT INC is 41-1678990.
- Is SOUTHEASTERN MINNESOTA 504 DEVELOPMENT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1991.
- Are donations to SOUTHEASTERN MINNESOTA 504 DEVELOPMENT INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does SOUTHEASTERN MINNESOTA 504 DEVELOPMENT INC 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 SOUTHEASTERN MINNESOTA 504 DEVELOPMENT INC 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 SOUTHEASTERN MINNESOTA 504 DEVELOPMENT INC 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 SOUTHEASTERN MINNESOTA 504 DEVELOPMENT INC?
- The 990 for the year ended December 31, 2024 names DANIEL VLASAK.
- Who are the officers and directors of SOUTHEASTERN MINNESOTA 504 DEVELOPMENT INC?
- The 990 for the year ended December 31, 2024 lists 14 people; 1 received compensation from the organization, the highest $153,000 (DWAYNE LEE, DIRECTOR OF).
- How much revenue does SOUTHEASTERN MINNESOTA 504 DEVELOPMENT INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,092,839, expenses of $578,264 and total assets of $1,958,238 at year end.
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