Nonprofit · EIN 41-1826572
NEW ULM ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · NEW ULM, MN 56073
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $75,985 | $193,402 | -$117,417 | $718,612 | $0 | $718,612 |
| December 31, 2023 | 990 | -$32,356 | $38,391 | -$70,747 | $836,029 | $0 | $836,029 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $55,790
- of which government grants
- $50,000
- Program service revenue
- $0
- Investment income
- $20,195
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $74,882
- Salaries, compensation and benefits (total)
- $93,937
- Professional fundraising fees
- $0
- Legal fees
- $5,785
- Accounting fees
- $1,385
- Occupancy
- $1,100
- Travel
- $4,667
- Depreciation
- $544
- Program services (functional)
- $170,548
- Management and general (functional)
- $22,854
Balance sheet and other
- Total assets, start of year
- $836,029
- Total assets, end of year
- $718,612
- Total liabilities, end of year
- $0
- Net assets, end of year
- $718,612
- Land, buildings and equipment
- $2,177
- Gross receipts
- $75,985
- Employees
- 1
- Volunteers
- 15
- Year formed
- 1995
- 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 |
|---|---|---|---|
| TIM KNAAK | PRESIDENT Trustee or director, Officer | 2 | $0 |
| SHANNON HILLESHEIM | VICE PRESIDENT Trustee or director, Officer | 2 | $0 |
| MIKE LIEB | TREASURER Trustee or director, Officer | 2 | $0 |
| CHRIS BOWLER | SECRETARY Trustee or director, Officer | 2 | $0 |
| JACE MARTI | DIRECTOR Trustee or director | 1 | $0 |
| REBECCA DEMARAIS | DIRECTOR Trustee or director | 1 | $0 |
| MARK DENN | DIRECTOR Trustee or director | 1 | $0 |
| MOJRA HAUENSTEIN | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHRIS BOWLER | SECRETARY Trustee or director, Officer | 2 | $0 |
| AARON BUDGE | DIRECTOR Trustee or director | 1 | $0 |
| REBECCA DEMARAIS | DIRECTOR Trustee or director | 1 | $0 |
| MARK DENN | DIRECTOR Trustee or director | 1 | $0 |
| MOJRA HAUENSTEIN | DIRECTOR Trustee or director | 1 | $0 |
| SHANNON HILLESHEIM | VICE PRESIDE Trustee or director, Officer | 2 | $0 |
| TIM KNAAK | BOARD CHAIR Trustee or director, Officer | 2 | $0 |
| MIKE LIEB | TREASURER Trustee or director, Officer | 2 | $0 |
| JACE MARTI | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1604 HAUENSTEIN DR, NEW ULM, MN 56073-3792
- In care of
- % ROGER SCHULTZ
- Principal officer (990 for 2024)
- MIKE LIEB, PO BOX 442, NEW ULM, MN 56073
- Signed the 990
- MIKE LIEB, TREASURER
- Phone
- (775) 771-5280
- Website
- WWW.NUBRIC.ORG
- Return prepared by
- KARLA HAVEMEIER LTD
Mission
TO ACT AS A CATALYST FOR PROMOTION OF THE ECONOMIC WELL-BEING OF NEW ULM, MINNESOTA.
Program accomplishments
- IN 2024, THE ORGANIZATION CONTINUED ITS PURSUIT OF SUPPORTING ECONOMIC DEVELOPMENT IN NEW ULM, MINNESOTA. THE ORGANIZATION CONTINUED TO EDUCATE THE COMMUNITY ON THE VARIOUS FACETS OF ECONOMIC DEVELOPMENT AND OPPURTUNITIES THAT EXIST, INCLUDING A CONTINUED RELATIONSHIP WITH THE CTE CENTER AT ISD #88, WHICH WAS FUNDED IN 2021 AS A WAY TO PROVIDE CURRENT STUDENTS TRAINING FOR JOBS REQUIRING TECHNICAL CERTIFICATION AS ANOTHER WAY TO IMPROVE ECONOMIC DEVELOPMENT BY INCREASING NEEDED WORKFORCE SKILLS.Expenses $170,548
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 | Check at the IRS |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-1826572
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible
- No
- Exempt since
- 1996
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $681,906
- Income (IRS master file)
- $70,927
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $75,985 | $193,402 | $718,612 | XML |
| 990 | December 2023 | -$32,356 | $38,391 | $836,029 | XML |
| 990 | December 2022 | -$38,317 | $87,315 | $946,954 | 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 41-1826572).
Questions about NEW ULM ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of NEW ULM ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of NEW ULM ECONOMIC DEVELOPMENT CORPORATION is 41-1826572.
- Is NEW ULM ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1996.
- Are donations to NEW ULM ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does NEW ULM ECONOMIC DEVELOPMENT CORPORATION 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 NEW ULM ECONOMIC DEVELOPMENT CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEW ULM ECONOMIC DEVELOPMENT CORPORATION 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 NEW ULM ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 names MIKE LIEB.
- Who are the officers and directors of NEW ULM ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 8 people; 0 received compensation from the organization.
- How much revenue does NEW ULM ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $75,985, expenses of $193,402 and total assets of $718,612 at year end.
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