Nonprofit · EIN 41-1672450
TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY
Tax-exempt · VADNAIS HTS, MN 55110
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $3,938,336 | $3,960,053 | -$21,717 | $7,493,854 | $3,277,002 | $4,216,852 |
| September 30, 2024 | 990 | $3,600,147 | $3,682,503 | -$82,356 | $7,429,184 | $3,190,615 | $4,238,569 |
| September 30, 2023 | 990 | $3,331,044 | $3,585,188 | -$254,144 | $7,320,907 | $2,999,982 | $4,320,925 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $3,752,084
- Investment income
- $172,558
- Other revenue
- $13,694
Expenses
- Grants and similar amounts paid
- $100,000
- Compensation of officers, directors and key employees
- $665,233
- Other salaries and wages
- $1,972,089
- Salaries, compensation and benefits (total)
- $3,174,870
- Professional fundraising fees
- $0
- Legal fees
- $53,363
- Accounting fees
- $20,500
- Occupancy
- $96,976
- Depreciation
- $38,375
- Program services (functional)
- $3,328,951
- Management and general (functional)
- $631,102
Balance sheet and other
- Total assets, start of year
- $7,429,184
- Total assets, end of year
- $7,493,854
- Total liabilities, end of year
- $3,277,002
- Net assets, end of year
- $4,216,852
- Land, buildings and equipment
- $1,110,281
- Net assets without donor restrictions
- $4,216,852
- Gross receipts
- $3,938,336
- Employees
- 17
- Volunteers
- 0
- 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 September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| PETE INGEBRAND | PRESIDENT Officer | 45 | $290,411 | $40,523 |
| DEBORAH GUSTAFSON - SENIOR | LENDER/SENIOR VICE PRESIDENT Highest-paid employee | 45 | $265,345 | $44,352 |
| SHEIL NELSON | SENIOR LENDER Highest-paid employee | 45 | $223,887 | $46,682 |
| PAUL LAMBERT - SECRETARY | SENIOR VICE PRESIDENT Officer | 45 | $210,638 | $38,692 |
| MICHAEL KINNINGER | LOAN OFFICER Highest-paid employee | 45 | $166,952 | $26,609 |
| MICHAEL KINDERMAN | LOAN OFFICER Highest-paid employee | 45 | $147,826 | $15,679 |
| MELISSA MILLER | LOAN OFFICER Highest-paid employee | 45 | $153,987 | $6,704 |
| JIM LOUWAGIE | BOARD MEMBER/CHAIR Trustee or director, Officer | 2.5 | $5,835 | $0 |
| KEVIN MAAS - BOARD MEMBER | TREASURER/SECRETARY Trustee or director, Officer | 2.5 | $4,875 | $0 |
| DAVID WASMUTH | BOARD MEMBER Trustee or director | 2.5 | $3,620 | $0 |
| ROYCE NELLIGAN | BOARD MEMBER Trustee or director | 2.5 | $3,515 | $0 |
| JONATHAN DOLPHIN | BOARD MEMBER Trustee or director | 1.5 | $3,480 | $0 |
| DENNIS WELCH | BOARD MEMBER Trustee or director | 2.5 | $3,270 | $0 |
| LEVI SMITH | BOARD MEMBER Trustee or director | 1.5 | $2,050 | $0 |
| BRAD BENESH | BOARD MEMBER Trustee or director | 1.5 | $1,840 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SHELLEY PETERSON | BOARD MEMBER Trustee or director | 1.5 | $1,805 |
| MIKE SCHOLL | BOARD MEMBER Trustee or director | 1.5 | $1,770 |
| STEVE POWELL | BOARD MEMBER Trustee or director | 1.5 | $1,735 |
| MIKE BRASS | BOARD MEMBER Trustee or director | 1.5 | $1,665 |
| BRYAN TOFT | BOARD MEMBER Trustee or director | 1.5 | $1,665 |
| KATE CROW | BOARD MEMBER Trustee or director | 1.5 | $0 |
| DEBORAH MALMBERG SMITH | BOARD MEMBER Trustee or director | 1.5 | $0 |
990 for the year ended September 30, 2024: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| PETE INGEBRAND | PRESIDENT Officer | 45 | $343,762 | $38,738 |
| DEBORAH GUSTAFSON | SENIOR LENDER/SENIOR VICE PRESIDENT Highest-paid employee | 45 | $260,034 | $41,281 |
| SHEIL NELSON | SENIOR LENDER Highest-paid employee | 45 | $214,788 | $43,462 |
| PAUL LAMBERT | SECRETARY/SENIOR VICE PRESIDENT Officer | 45 | $196,711 | $36,534 |
| MICHAEL KINNINGER | LOAN OFFICER Highest-paid employee | 45 | $165,473 | $15,435 |
| MELISSA MILLER | LOAN OFFICER Highest-paid employee | 45 | $153,060 | $6,603 |
| MICHAEL KINDERMAN | LOAN OFFICER Highest-paid employee | 45 | $143,672 | $15,032 |
| DENNIS WELCH | BOARD MEMBER Trustee or director | 2.5 | $5,800 | $0 |
| DAVID WASMUTH | BOARD MEMBER Trustee or director | 2.5 | $4,875 | $0 |
| JIM LOUWAGIE | BOARD MEMBER/CHAIR Trustee or director, Officer | 2.5 | $4,405 | $0 |
| KEVIN MAAS - BOARD MEMBER | TREASURER/SECRETARY Trustee or director, Officer | 2.5 | $4,020 | $0 |
| ROYCE NELLIGAN | BOARD MEMBER Trustee or director | 2.5 | $3,340 | $0 |
| JONATHAN DOLPHIN | BOARD MEMBER Trustee or director | 1.5 | $2,015 | $0 |
| CAROL MALONEY | BOARD MEMBER Trustee or director | 1.5 | $1,945 | $0 |
| BRYAN TOFT | BOARD MEMBER Trustee or director | 1.5 | $1,945 | $0 |
| SHELLEY PETERSON | BOARD MEMBER Trustee or director | 1.5 | $1,910 | $0 |
| MIKE BRASS | BOARD MEMBER Trustee or director | 1.5 | $1,805 | $0 |
| LEVI SMITH | BOARD MEMBER Trustee or director | 1.5 | $1,805 | $0 |
| BRAD BENESH | BOARD MEMBER Trustee or director | 1.5 | $0 | $0 |
| STEVE POWELL | BOARD MEMBER Trustee or director | 1.5 | $0 | $0 |
| MIKE SCHOLL | BOARD MEMBER Trustee or director | 1.5 | $0 | $0 |
990 for the year ended September 30, 2023: 22 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| PETE INGEBRAND | PRESIDENT Officer | 45 | $330,282 | $42,312 |
| DEBORAH GUSTAFSON | SENIOR LENDER/VP Highest-paid employee | 45 | $243,268 | $38,429 |
| SHEIL NELSON | SENIOR LENDER Highest-paid employee | 45 | $215,192 | $40,515 |
| PAUL LAMBERT | SECRETARY/VICE PRESIDENT Officer | 45 | $201,071 | $33,931 |
| MICHAEL KINDERMAN | LOAN OFFICER Highest-paid employee | 45 | $144,147 | $14,177 |
| TERRIE ORLOFF | LOAN OFFICER Highest-paid employee | 45 | $134,819 | $18,057 |
| MELISSA MILLER | LOAN OFFICER Highest-paid employee | 45 | $142,167 | $6,360 |
| DENNIS WELCH | BOARD MEMBER/CHAIR Trustee or director, Officer | 2.5 | $6,290 | $0 |
| DAVID WASMUTH | BOARD MEMBER Trustee or director | 2.5 | $5,260 | $0 |
| JIM LOUWAGIE | BOARD MEMBER/VICE CHAIR Trustee or director, Officer | 2.5 | $4,965 | $0 |
| KEVIN MAAS | BOARD MEMBER/TREASURER Trustee or director, Officer | 2.5 | $4,545 | $0 |
| ROYCE NELLIGAN | BOARD MEMBER Trustee or director | 2.5 | $3,830 | $0 |
| LEONARD KIRSCHT | BOARD MEMBER Trustee or director | 1.5 | $2,470 | $0 |
| JONATHAN DOLPHIN | BOARD MEMBER Trustee or director | 1.5 | $2,295 | $0 |
| BRYAN TOFT | BOARD MEMBER Trustee or director | 1.5 | $2,295 | $0 |
| BRUCE HALBASCH | BOARD MEMBER Trustee or director | 1.5 | $2,260 | $0 |
| CAROL MALONEY | BOARD MEMBER Trustee or director | 1.5 | $2,260 | $0 |
| LEVI SMITH | BOARD MEMBER Trustee or director | 1.5 | $2,260 | $0 |
| SHELLEY PETERSON | BOARD MEMBER Trustee or director | 1.5 | $2,225 | $0 |
| ROBERT HECK | BOARD MEMBER Trustee or director | 1.5 | $2,190 | $0 |
| MIKE BRASS | BOARD MEMBER Trustee or director | 1.5 | $2,085 | $0 |
| AL MADSEN | BOARD MEMBER Trustee or director | 1.5 | $2,015 | $0 |
Address and contacts
- Address (IRS master file)
- 3495 VADNAIS CENTER DR, VADNAIS HTS, MN 55110-5194
- Principal officer (990 for 2024)
- PETER D INGEBRAND, 3495 VADNAIS CENTER DRIVE, VADNAIS HEIGHTS, MN 55110
- Signed the 990
- PETER D INGEBRAND, PRESIDENT
- Phone
- (651) 481-8081
- Website
- WWW.504LENDING.COM
- Return prepared by
- AKINS HENKE AND COMPANY
Mission
TO STIMULATE PRIVATE SECTOR INVESTMENT BY PROVIDING FUNDING FOR SMALL BUSINESS EXPANSIONS IN MINNESOTA AND WESTERN WISCONSIN THROUGH THE UTILIZATION OF THE SMALL BUSINESS ADMINISTRATION'S 504 LOAN PROGRAM.
Program accomplishments
- TO STIMULATE PRIVATE SECTOR INVESTMENT BY PROVIDING FUNDING FOR SMALL BUSINESS EXPANSIONS IN MINNESOTA AND WESTERN WISCONSIN THROUGH THE UTILIZATION OF THE SMALL BUSINESS ADMINISTRATION'S 504 LOAN PROGRAM. BUSINESSES ARE ELIGIBLE FOR THE LOANS BASED ON THEIR PURCHASE OF FIXED ASSETS, PRIMARILY REAL ESTATE, FOR THEIR BUSINESS USE. THE ELIGIBLE BUSINESSES SHOULD RETAIN AND CREATE AT LEAST ONE JOB FOR EVERY $90,000 (OR $140,000 FOR SMALL MANUFACTURERS) IN SBA GUARANTEED FUNDS OR MEET A PUBLIC POLICY GOAL AS DICTATED BY THE SBA. THE ORGANIZATION HAD 55 LOAN APPROVALS AND 51 LOAN FUNDINGS FOR APPROXIMATELY $55.7 MILLION DURING FISCAL YEAR 2025. IT IS ANTICIPATED THAT WITHIN TWO YEARS OF FUNDING, 513 JOBS WILL BE CREATED AND/OR RETAINED AS A RESULT OF THESE LOANS.Expenses $3,328,951 · grants $100,000 · revenue $3,765,778
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 September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 41-1672450
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible
- No
- Exempt since
- 1995
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $7,493,854
- Income (IRS master file)
- $3,938,336
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $3,938,336 | $3,960,053 | $7,493,854 | XML |
| 990 | September 2024 | $3,600,147 | $3,682,503 | $7,429,184 | XML |
| 990 | September 2023 | $3,331,044 | $3,585,188 | $7,320,907 | XML |
| 990 | September 2022 | $3,463,785 | $3,232,304 | $7,176,468 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 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 41-1672450).
Questions about TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY
- What is the EIN of TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY?
- The employer identification number (EIN) of TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY is 41-1672450.
- Is TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1995.
- Are donations to TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY 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 TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY?
- The 990 for the year ended September 30, 2025 names PETER D INGEBRAND.
- Who are the officers and directors of TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY?
- The 990 for the year ended September 30, 2025 lists 22 people; 20 received compensation from the organization, the highest $290,411 (PETE INGEBRAND, PRESIDENT).
- How much revenue does TWIN CITIES-METRO CERTIFIED DEVELOPMENT COMPANY have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $3,938,336, expenses of $3,960,053 and total assets of $7,493,854 at year end.
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