# EDGAR Filing Document

**Accession Number:** 0001604197
**File Stem:** 0001604197-23-000001
**Filing Date:** 2023-1
**Character Count:** 12952
**Document Hash:** a74ba5865f8abba8db0c2b2d0a3a228e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001604197-23-000001.hdr.sgml**: 20230215

**ACCESSION NUMBER**: 0001604197-23-000001

**CONFORMED SUBMISSION TYPE**: MA/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230110

**DATE AS OF CHANGE**: 20230215

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ehlers & Associates, Inc.
- **CENTRAL INDEX KEY:** 0001604197
- **IRS NUMBER:** 410837545
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** MA/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 867-00219
- **FILM NUMBER:** 23634626

**BUSINESS ADDRESS:**
- **STREET 1:** 3060 CENTRE POINTE DRIVE
- **CITY:** ROSEVILLE
- **STATE:** MN
- **ZIP:** 55113
- **BUSINESS PHONE:** 651-697-8500

**MAIL ADDRESS:**
- **STREET 1:** 3060 CENTRE POINTE DRIVE
- **CITY:** ROSEVILLE
- **STATE:** MN
- **ZIP:** 55113

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM MA: UNIFORM APPLICATION FOR MUNICIPAL ADVISOR REGISTRATION

### Filer and Contact Information

**Filer CIK:** 0001604197

**Filer CCC:** XXXXXXXX

**Contact Name:** Greg Crowe

**Contact Phone:** 651-697-8522

**Contact Email:** gcrowe@ehlers-inc.com

**Notification Emails:** naly@ehlers-inc.com

### Type of Filing

**Selected Filing Type:** Amendment

### Item 1: Identifying Information

**A. Full Legal Name of the Firm:** Ehlers & Associates, Inc.

**&nbsp;&nbsp;&nbsp;Is applicant a Sole Proprietor?:** No

**&nbsp;&nbsp;&nbsp;Has the municipal legal name changed since the last filing?:** No

**B. Doing-Business-As (DBA) Name:** Ehlers

**&nbsp;&nbsp;&nbsp;Has the applicant had any previous DBA names?:** No

**&nbsp;&nbsp;&nbsp;Does the applicant have any additional DBA names?:** No

**C. IRS Employer Identification Number:** 41-0837545

**D. Registrations:**

- **Municipal Advisor (Temporary):** SEC File No: 866-00266-00

- **Municipal Advisor:** SEC File No: 867-00219

**E. Principal Office and Place of Business:** 3060 CENTRE POINTE DRIVE, ROSEVILLE, MN, 55113

**Telephone Number:** 651-697-8500

**Additional Offices of Employment:**

- **Office #1 (Amend):** N19W24400 Riverwood Drive, Suite 100, Waukesha, WI, 53188 | Phone: 262-785-1520

**Mailing Address is Different from Principal Office:** No

**F. Website:** www.ehlers-inc.com

**G. Chief Compliance Officer (CCO):**

**Name:** PAMELA KAY REINITZ ZIERMANN

**Titles:** Chief Compliance Officer

**Address:** 3060 Centre Pointe Drive, Roseville, MN, 55113

**Phone Number:** 651-697-8576

**Email:** pziermann@ehlers-inc.com

**H. Business Affiliates:**

- **Name:** Bond Trust Services Corporation

  - **Issuing Agency:** Minnesota Department of Commerce

  - **Jurisdiction:** MN

- **Name:** Ehlers Investment Partners, LLC

  - **Issuing Agency:** Securties Exchange Commission

  - **Jurisdiction:** 

**I. Location of Books and Records:** No

### Item 2: Form of Organization

**A. Applicant's form of organization:** Corporation

**B. Month of Applicant's Annual Fiscal Year End:** June

**C. State, Other U.S. Jurisdiction, or Foreign Jurisdiction Under Which Applicant is Organized:** MN

**D. Date of Organization:** 01-01-1955

**E. Is the applicant a public reporting company?:** No

### Item 3: Successions

**Is the applicant succeeding to the business of a registered municipal advisor?** No

### Item 4: Information About Applicant's Business

**A. Number of Employees:** 53

**B. Municipal Advisory Activities - Employees:** 39

**C. Registered Representatives - MAA Employees also registered reps of a broker-dealer:** 0

**&nbsp;&nbsp;&nbsp;MAA Employees also associated with an investment adviser:** 2

**D. Public Relations Company?:** No

**E. Soliciting on Behalf of an Affiliate - Number of firms:** 0

**F. Types of Clients - Number of clients served as municipal advisor:** 856

**&nbsp;&nbsp;&nbsp;Types of Clients:** Municipal Entities, Non-profit organizations, Corporations or other businesses

**G. Solicitation of Municipal Entities and Obligated Persons - Municipal Entities:** 0

**&nbsp;&nbsp;&nbsp;Obligated Persons:** 0

**&nbsp;&nbsp;&nbsp;Total Solicited:** 0

**H. Types of Persons Solicited:** 
Not Applicable
, Not Applicable

**I. Compensation Arrangements (Municipal Advisory):** 
Hourly Charges
Fixed Fees
Contingent Fees
, Hourly Charges, Fixed Fees, Contingent Fees

**J. Compensation Arrangements (Solicitation):** 
Not Applicable
, Not Applicable

**K. Does the applicant receive compensation in the context of its municipal advisory business from other than its municipal entity or obligated person clients?:** No

**L. Applicant Business Relating to Municipal Securities:** Advice Insurance Of MS, Advice Investment Of Proceeds MS, Advice ME Investments, Advice Use Of MD, Advice On Selection, Other

### Item 5: Other Business Activities

**Is applicant engaged in any other non-municipal advisor business?** No

### Item 6: Financial Industry and Other Activities of Associated Persons

**Types of associated persons:** Investment Adviser, Trust Company, Investment Adviser, Trust Company, Investment Company, Trust Company, Other municipal advisor, Investment Adviser, Investment Adviser

**Total Associated Persons:** 5

### Item 7: Participation or Interest in Client Transactions

- **Buy or sell municipal securities from or to municipal advisory clients for the firm's own account?:** No

- **Buy or sell municipal securities from or to third-parties on behalf of clients?:** No

- **Enter into derivatives transactions with clients for the firm's own account?:** No

- **Recommend to clients to buy/sell securities in which the firm has a financial interest?:** No

- **Recommend to clients products/services of an affiliated person?:** No

- **Recommend to clients securities of an issuer with which the firm has other relationships?:** No

- **Have discretionary authority to buy/sell municipal securities for clients?:** No

- **Have discretionary authority to buy/sell any other securities or investments for clients?:** No

- **Have discretionary authority to determine the broker-dealer to be used for client transactions?:** No

- **Have discretionary authority to determine the commission paid to a broker-dealer?:** No

- **Recommend broker-dealers to clients?:** Yes

- **&nbsp;&nbsp;&nbsp;If yes, are any of these broker-dealers an associated person of the applicant?:** Yes

- **Compensate any person for client referrals?:** No

- **Receive compensation from any person for client referrals?:** No

### Item 8: Owners, Officers, and Other Control Persons

**A. (2) Does any person not named in Item 1-A or Schedules A, B, or C, directly or indirectly, control the applicant's management or policies?** No

**B. (1) Is any person in Schedule A, B, or C, or in Section 8-A of Schedule D a public reporting company?** No

### Item 9: Disclosure Information

**Criminal Disclosure:**

- **Applicant/Advisory Affiliate Convicted/Pled Guilty to Felony?:** No

- **Applicant/Advisory Affiliate Charged with Felony?:** No

- **Organization Convicted/Pled Guilty to Felony?:** No

- **Organization Charged with Felony?:** No

**Regulatory Disclosure:**

- **SEC/CFTC Found False Statement?:** No

- **SEC/CFTC Found Violation?:** No

- **SEC/CFTC Found Cause of Denial/Suspension?:** No

- **SEC/CFTC Entered Order?:** No

- **SEC/CFTC Imposed Civil Penalty?:** No

- **SRO Found Unethical Conduct?:** No

- **SRO Found Violation?:** No

- **SRO Found Cause of Denial/Suspension?:** No

- **SRO Barred/Suspended/Fined > $2,500?:** No

- **SRO Denied/Suspended/Revoked Registration?:** No

- **Foreign Authority Found False Statement?:** No

- **Foreign Authority Found Violation?:** No

- **Foreign Authority Found Cause of Suspension?:** No

- **Foreign Authority Disciplined?:** No

- **Authorization to Act as Attorney/Accountant Revoked?:** No

- **Subject of a Regulatory Complaint?:** No

**Civil Disclosure:**

- **Enjoined in Connection with Municipal Advisory Activity?:** No

- **Found to Have Violated Regulations?:** No

- **Civil Proceeding Dismissed Pursuant to Settlement?:** No

- **Named in Civil Proceeding Alleging Violation?:** No

### Item 10: Small Businesses

**Does the applicant have annual receipts of less than $7,000,000?** No

**Is the applicant affiliated with a person that has annual receipts of more than $7,000,000?** No

### Schedule A: Direct Owners and Executive Officers

| Name                        | Title/Status               | Date Acquired   | Ownership Code    | Control Person?   | IRS Number   | CRD Number   |
|:---|:---|:---|:---|:---|:---|:---|
| Ehlers Companies            | Corporation                | 02-01-2012      | E - 75% or more   | Yes               |  |  |
| Greg Owen Crowe             | Ehlers Companies President | 01-01-2022      | NA - less than 5% | No                |  | 000000000    |
| Samuel Ainsworth Mahn       | CFO                        | 07-01-2021      | NA - less than 5% | No                |  | 000000000    |
| Pamela Kay Reinitz Ziermann | Chief Compliance Officer   | 05-31-2021      | NA - less than 5% | No                |  | 2083562      |

### Schedule B: Indirect Owners

| Owning Entity    | Name                                                     | Title/Status   | Date Acquired   | Ownership Code                                          | Control Person?   | IRS Number   |
|:---|:---|:---|:---|:---|:---|:---|
| Ehlers Companies | Ehlers and Associates, Inc Employee Stock Ownership Plan | ESOP Trust     | 02-01-2012      | E - 75% or more                                         | Yes               |  |
| ESOP             | Jessica Maeve Cook                                       | Trustee        | 12-16-2016      | F - Other (general partner, trustee, or elected member) | Yes               |  |
| ESOP             | Stacie Lynn Kvilvang                                     | Trustee        | 02-01-2022      | F - Other (general partner, trustee, or elected member) | Yes               |  |
| ESOP             | Kristin Ann Cummings                                     | Trustee        | 02-01-2022      | F - Other (general partner, trustee, or elected member) | Yes               |  |
| ESOP             | Jonathan Paul Cameron                                    | Trustee        | 02-01-2022      | F - Other (general partner, trustee, or elected member) | Yes               |  |

### Schedule C: Amendments to Schedules A and B

| Type   | Ownership   | Owning Entity    | Name                                                     | Title/Status               | Date Acquired   | Ownership Code                                          | Control Person?   | IRS Number   | CRD Number   |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Direct      |  | Ehlers Companies                                         | Corporation                | 02-01-2012      | E - 75% or more                                         | Yes               |  |  |
|  | Indirect    | Ehlers Companies | Ehlers and Associates, Inc Employee Stock Ownership Plan | ESOP Trust                 | 02-01-2012      | E - 75% or more                                         | Yes               |  |  |
|  | Direct      |  | Greg Owen Crowe                                          | Ehlers Companies President | 01-01-2022      | NA - less than 5%                                       | No                |  | 000000000    |
|  | Direct      |  | Samuel Ainsworth Mahn                                    | CFO                        | 07-01-2021      | NA - less than 5%                                       | No                |  | 000000000    |
|  | Direct      |  | Pamela Kay Reinitz Ziermann                              | Chief Compliance Officer   | 05-31-2021      | NA - less than 5%                                       | No                |  | 2083562      |
|  | Indirect    | ESOP             | Jessica Maeve Cook                                       | Trustee                    | 12-16-2016      | F - Other (general partner, trustee, or elected member) | Yes               |  | 000000000    |
|  | Indirect    | ESOP             | Stacie Lynn Kvilvang                                     | Trustee                    | 02-01-2022      | F - Other (general partner, trustee, or elected member) | Yes               |  | 000000000    |
|  | Indirect    | ESOP             | Kristin Ann Cummings                                     | Trustee                    | 02-01-2022      | F - Other (general partner, trustee, or elected member) | Yes               |  | 000000000    |
|  | Indirect    | ESOP             | Jonathan Paul Cameron                                    | Trustee                    | 02-01-2022      | F - Other (general partner, trustee, or elected member) | Yes               |  | 000000000    |

### Execution Page

**Signature:** Greg Crowe

**Signer Name:** Greg Crowe

**Title:** President

**Date:** 01-10-2023