2025-11-17T15:20:39-06:00 2024-12-31 390919055 RITZ HOLMAN LLP 330 E KILBOURN AVE SUITE 222 MILWAUKEE WI 53202 990 2024-01-01 311724109 LEGACY REDEVELOPMENT CORPORATION LEGA 4143430163 1915 N MARTIN LUTHER KING DR 202 MILWAUKEE WI 53212 TERESE CARO CEO/PRESIDENT 4143430163 2025-11-17 1 0 RENEE MESSING P01872384 4142711451 2025-11-15 2024 2025-03-06 01:10:19Z X TERESE CARO 1915 N DR MARTIN LUTHER KING DRIVE MILWAUKEE WI 53212 2366182 0 X WWW.LRCMKE.COM/ X 2000 WI TO ENHANCE NEIGHBORHOOD VITALITY, FACILITATE A SUSTAINABLE AND ECONOMICALLY DIVERSE COMMUNITY, AND BUILD WEALTH THROUGH THE DESIGN AND IMPLEMENTATION OF INNOVATIVE FINANCE PROGRAMS IN THE CITY OF MILWAUKEE. 8 8 0 15 0 0 2042917 1796026 83080 72802 433347 496811 425 543 2559769 2366182 322971 771733 0 0 469434 441275 0 0 8563 573228 698916 1365633 1911924 1194136 454258 13951507 11440598 11300551 8335384 2650956 3105214 X LEGACY REDEVELOPMENT CORPORATION (LRC) IS A NON-PROFIT COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) REVOLVING LOAN FUND WHOSE MISSION IS TO ENHANCE NEIGHBORHOOD VITALITY, FACILITATE A SUSTAINABLE AND ECONOMICALLY DIVERSE COMMUNITY, AND BUILD WEALTH THROUGH THE DESIGN AND IMPLEMENTATION OF INNOVATIVE FINANCE PROGRAMS IN THE CITY OF MILWAUKEE. 0 0 1711895 771733 531201 LEGACY REDEVELOPMENT CORPORATION (LRC) CONTINUED TO PROVIDE LOAN CAPITAL AND TECHNICAL ASSISTANCE TO ITS LOAN CLIENTS WITH THE GOAL TO STRENGTHEN THE BUSINESSES IN THE AREAS WHERE IMPROVEMENTS WERE IDENTIFIED. JOB RETENTION AND CREATION WAS ATTAINED IN ADDITION TO WORKING WITH MINORITY OWNED BUSINESSES AS A FOCUS OF OUR MISSION. THE GOAL IS TO GET THE LOAN CLIENTS BANKABLE. IN 2024,LRC PROVIDED LOANS TO SMALL BUSINESSES AND NON-PROFIT ORGANIZATIONS INJECTED INTO DISADVANTAGED COMMUNITIES AND TO SOCIALLY AND ECONOMICALLY DISADVANTAGED INDIVIDUALS (SEDI). THE LOAN PORTFOLIO IS COMPRISED OF DIRECT LENDING TO DIVERSE INDUSTRIES OF SMALL BUSINESSES INCLUDING THE EXPANSION INTO THE RACINE MARKET. LRC HAS CONTINUED TO BE A COMMUNITY PARTNER WITH THE GREATER MILWAUKEE FOUNDATION, EXPANDING OUR REACH TO EARLY CHILDHOOD EDUCATION SMALL BUSINESSES. IN ADDITION, WE'VE PARTNERED WITH ANOTHER LOCAL CDFI ON A PROJECT THAT WILL PROVIDE AFFORDABLE GROCERIES IN A FOOD DESERT IN A CHALLENGED AREA OF MILWAUKEE. THE PROJECT WILL PROVIDE JOB'S AND HOUSING. OVER 95% OF THE LOANS SERVE THE LOW TO MODERATE INCOME COMMUNITY. WE PROVIDED ONE-ON-ONE TECHNICAL ASSISTANCE (TA) TO BUSINESS STARTUPS AND EXPANSIONS THAT ARE CUSTOMIZED TO THE NEEDS OF THE BORROWERS. THE TA PROVIDED RANGED FROM FINANCIAL EDUCATION TO SUCCESSION PLANNING. 1711895 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 WI X LAKEYTHEIA STRIBLING-DANTZLER 4143430163 1915 N DR MARTIN LUTHER KING DRIVE MILWAUKEE WI 53212 TROY L REESE CHAIR 1.00 X X 0 0 0 MARJORIE RUCKER SECRETARY 1.00 X X 0 0 0 TERESE CARO CEO 40.00 X 125000 0 18607 RICHARD W LINCOLN DIRECTOR 1.00 X 0 0 0 NICOLE L ROBBINS DIRECTOR 1.00 X 0 0 0 NIKKI PURVIS DIRECTOR 1.00 X 0 0 0 BRIAN MAYS DIRECTOR 1.00 X 0 0 0 DARIAN LUCKETT DIRECTOR 1.00 X 0 0 0 SALLY R PELTZ DIRECTOR 1.00 X 0 0 0 125000 0 18607 1 0 0 0 0 1210285 585741 1796026 LOAN SERVICE FEES 561499 72802 72802 72802 496811 458399 38412 MISCELLANEOUS REVENUE 900099 543 543 543 2366182 531201 0 38955 736436 736436 35297 35297 361178 338191 20001 2986 53552 54599 -1636 589 26545 25958 243 344 13341 13341 104690 27648 77042 20668 5930 14738 28483 28483 6202 614 5391 197 17388 3220 14168 24587 23710 531 346 1608 1000 608 23281 12447 7084 3750 254664 254664 1020 1020 8883 5178 3643 62 LOAN LOSS RESERVE 110000 110000 BAD DEBT 40000 40000 OTHER EXPENSES 14505 4485 9895 125 DUES & SUBSCRIPTIONS 10992 9807 1021 164 18604 9370 9234 1911924 1711895 191466 8563 2708154 4845855 1525216 1510753 52391 127647 9464512 4769512 20925 11147 14757 13625 2152 1132 178157 174552 13951507 11440598 38932 3376441 2899646 1785419 32544 425124 8329429 2748400 11300551 8335384 X 2621189 3078105 29767 27109 2650956 3105214 13951507 11440598 454258 0 X 0 1 X 1 0 X 488823 471378 1240449 2042917 1796026 6039593 488823 471378 1240449 2042917 1796026 6039593 6039593 424 88 193 9747 38412 48864 375 854 600 425 333 2587 6091044 2460253 0.99160 0.90300 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 14757 13625 1132 1132 X 2366182 0 2366182 0 2366182 1911924 0 1911924 0 1911924 PART IV, LINE 2B: THE ORGANIZATION HOLDS ESCROW BALANCES IN CONNECTION WITH LOAN ACCOUNTS FOR PAYMENT OF REAL ESTATE TAXES. PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION. MANAGEMENT HAS REVIEWED ALL TAX POSITIONS RECOGNIZED IN PREVIOUSLY FILED TAX RETURNS AND THOSE EXPECTED TO BE TAKEN IN FUTURE TAX RETURNS. AS OF DECEMBER 31, 2024, THE ORGANIZATION HAD NO AMOUNTS RELATED TO UNRECOGNIZED INCOME TAX BENEFITS AND NO AMOUNTS RELATED TO ACCRUED INTEREST AND PENALTIES. THE ORGANIZATION DOES NOT ANTICIPATE ANY SIGNIFICANT CHANGES TO UNRECOGNIZED INCOME TAX BENEFITS OVER THE NEXT YEAR. 1 IVORY HILLS FAMILY CHILD CARE CENTER LLC 3872 N 7TH STREEY MILWAUKEE WI 53212 815488022 18287 0 SMALL BUSINESS ASSISTANCE GRANT ZDH HOLDINGS LLC 1626 W FOND DU LAC AV MILWAUKEE WI 53205 922221115 79133 0 SMALL BUSINESS ASSISTANCE GRANT 1700 PULLUP LLC 1848 W FOND DU LAC AVE MILWAUKEE WI 53205 850653147 30266 0 SMALL BUSINESS ASSISTANCE GRANT ZIM KNIVES LLC 4404 W NORTH AVE MILWAUKEE WI 53208 463438298 40000 0 SMALL BUSINESS ASSISTANCE GRANT TRILOGY BEHAVIORAL HEALTH SERVICES 2741 W FOND DU LAC AVE MILWAUKEE WI 53210 883919472 26667 0 SMALL BUSINESS ASSISTANCE GRANT I & CJ'S LLC 4821 W BURLEIGH ST MILWAUKEE WI 53210 612035952 28845 0 SMALL BUSINESS ASSISTANCE GRANT FAVORITES LLC 1810 W FOND DU LAC AVE MILWAUKEE WI 53205 843994777 34744 0 SMALL BUSINESS ASSISTANCE GRANT COURIER COMMUNICATIONS CORPORATION 2003 W CAPITOL DR MILWAUKEE WI 53206 391172338 34744 0 SMALL BUSINESS ASSISTANCE GRANT BUFFALO BOSS MIDWEST LLC 540 N 27TH STREET MILWAUKEE WI 53208 873341196 20000 0 SMALL BUSINESS ASSISTANCE GRANT CYNDY JOHNSON LLC 3803 W FOND DU LAC AVE MILWAUKEE WI 53216 934275266 100000 0 SMALL BUSINESS ASSISTANCE GRANT COFFEE MAKES YOU BLACK 2803 N TEUTONIA AVE MILWAUKEE WI 53206 810599567 62314 0 SMALL BUSINESS ASSISTANCE GRANT AFRICAN AMERICAN CHAMBER OF COMMERCE 1920 N MARTIN LUTHER KING JR DRIVE MILWAUKEE WI 53212 391768969 26436 0 SMALL BUSINESS ASSISTANCE GRANT ART BY APRIL 1013 HARMONY DRIVE RACINE WI 53402 832121990 15000 0 SMALL BUSINESS ASSISTANCE GRANT BEAUTIFULLY BOLD INC 1402 WASHINGTON AVENUE RACINE WI 53403 822237575 15000 0 SMALL BUSINESS ASSISTANCE GRANT BONIFIED NUTRITION 408 6TH STREET RACINE WI 53403 842204075 15000 0 SMALL BUSINESS ASSISTANCE GRANT OUTREACH 4 HEALTHY TEETH 500 COLLEGE AVENUE RACINE WI 53403 842242837 15000 0 SMALL BUSINESS ASSISTANCE GRANT PETALS BY FELICIA LLC 1337 WASHINGTON AVE RACINE WI 53403 465656258 15000 0 SMALL BUSINESS ASSISTANCE GRANT PLUSH CLOTHING LLC 409 MAIN STREET RACINE WI 53403 050634937 15000 0 SMALL BUSINESS ASSISTANCE GRANT 2SWIFTSUITS LLC 411 MAIN ST RACINE WI 53403 453617556 15000 0 SMALL BUSINESS ASSISTANCE GRANT X&S BEAUTY BAR LLC 1118 GROVE AVE RACINE WI 53405 853215871 15000 0 SMALL BUSINESS ASSISTANCE GRANT SERVANTEZ LAW OFFICES 4101 WASHINGTON AVE RACINE WI 53405 311779837 15000 0 SMALL BUSINESS ASSISTANCE GRANT LASHES DE YAMI LLC 3015 DOUGLAS AVE RACINE WI 53402 393886394 15000 0 SMALL BUSINESS ASSISTANCE GRANT DEAD FLY LLC 1325 THURSTON AVENUE RACINE WI 53405 851528130 10000 0 SMALL BUSINESS ASSISTANCE GRANT MRS BETTY'S KITCHEN 327 MAIN ST RACINE WI 53403 820927049 15000 0 SMALL BUSINESS ASSISTANCE GRANT I LOVE TAMALES LLC 1501 WASHINGTON AVE RACINE WI 53403 472326493 15000 0 SMALL BUSINESS ASSISTANCE GRANT THE PLANT LADY LLC 1402 WASHINGTON AVE RACINE WI 53403 862622782 15000 0 SMALL BUSINESS ASSISTANCE GRANT THE BRANCH AT 1501 LLC 1501 WASHINGTON AVE RACINE WI 53403 814726168 15000 0 SMALL BUSINESS ASSISTANCE GRANT GRIND SEASON LLC 2919 DURAND AVE RACINE WI 53403 811652706 15000 0 SMALL BUSINESS ASSISTANCE GRANT 1 27 SCHOLARSHIP AWARDS 10 35297 PART I, LINE 2: FORGIVABLE LOANS ARE MADE TO SMALL BUSINESSES BASED ON ESTABLISHED CRITERIA. WHEN ALL CRITERIA FOR FORGIVENESS IS MET, THE LOAN IS CONSIDERED PAID AND CONVERTED TO A GRANT. FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - THE BOARD REVIEWED THE 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR ALL BOARD MEMBERS REVIEW THE CONFLICT OF INTEREST POLICY, AND CERTIFICATION FORMS. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE CEO IS REVIEWED BY THE BOARD ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST LEGACY MIDWEST REDEVELOPMENT CORP 1536 W NORTH AVENUE MILWAUKEE WI 53205 371487714 TO PURCHASE/DEVELOP LAND/ PROPERTY IN DEV WI 501(C)(3) LINE 11 YES 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0