Invest Nebraska Corp
- Assets
- $47.9m
- Revenue
- $10.3m
- Investments
- $0.0
- Employees
- 9
- Location
- Lincoln, NE
- Founding
- 08/2002
- Data as of
- 12/2021
- EIN
- 46-0469145
Organization Overview
Invest Nebraska Corp is located in Lincoln, NE. The organization was established in 2002. According to its NTEE Classification (W22) the organization is classified as: Public Finance, Taxation & Monetary Policy, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Invest Nebraska Corp employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Invest Nebraska Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Invest Nebraska Corp generated $10.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 16.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
INVEST NEBRASKA CORPORATION GROWS NEBRASKA'S ECONOMY BY PROVIDING CAPITAL AND OPERATIONAL ASSISTANCE TO EARLY STAGE STARTUPS, DEVELOPING HIGH GROWTH INFRASTRUCTURE FOR INNOVATORS AND ENTREPRENEURS, AND ATTRACTING OUT-OF-STATE CAPITAL THROUGH ITS NETWORK OF VENTURE CAPITAL FUNDS. AS A NONPROFIT VENTURE DEVELOPMENT ORGANIZATION, INVEST NEBRASKA CORPORATION HAS BECOME A KEY LEADER IN THE ENTREPRENEURIAL ECOSYSTEM; FUNDING PROGRAMS, ORGANIZING SERVICES, AND BUILDING INFRASTRUCTURE TO SUPPORT BUSINESSES ACROSS THE STATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEED FUND PROGRAM - THE ORGANIZATION CONTRACTS WITH THE STATE OF NEBRASKA'S DEPARTMENT OF ECONOMIC DEVELOPMENT TO PROVIDE CAPITAL TO EARLY-STAGE BUSINESSES THROUGH THE BUSINESS INNOVATION ACT. THESE BUSINESSES ARE STATUTORILY ELIGIBLE FOR FINANCING BASED ON A SERIES OF QUALIFYING FACTORS. THE ORGANIZATION ALSO PROVIDES CAPITAL TO EARLY-STAGE BUSINESSES THROUGH FEDERALLY DESIGNATED GRANT FUNDS.
THE COMBINE - AN AGRIFOOD TECH INCUBATOR LOCATED ON NEBRASKA INNOVATION CAMPUS TO INCUBATE HIGH-GROWTH, EARLY-STAGE BUSINESS IN THE AG AND FOOD TECHNOLOGY SPACE.
ANGEL NETWORK DEVELOPMENT AND EDUCATION - DEVELOP REGIONAL ANGEL NETWORKS ACROSS THE STATE BY EDUCATING POTENTIAL INVESTORS ON THE IMPORTANCE OF ANGEL FUNDING FOR A SUCCESSFUL ENTREPRENEURIAL CLIMATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Hoffman Chief Executive Officer | Officer | 53 | $190,684 |
Ben Williamson General Counsel | 43.5 | $134,200 | |
Joseph Young Chairman | OfficerTrustee | 0.5 | $0 |
Richard Baier Treasurer | OfficerTrustee | 0.5 | $0 |
Phil Bakken Secretary | OfficerTrustee | 0.5 | $0 |
Paul Eurek Ex-Officionon-Voting Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,489,774 |
| All other contributions, gifts, grants, and similar amounts not included above | $272,734 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,762,508 |
| Total Program Service Revenue | $107,248 |
| Investment income | $289,062 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,253,547 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $333,495 |
| Compensation of current officers, directors, key employees. | $54,322 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $376,879 |
| Pension plan accruals and contributions | $37,465 |
| Other employee benefits | $83,806 |
| Payroll taxes | $40,450 |
| Fees for services: Management | $9,264 |
| Fees for services: Legal | $134 |
| Fees for services: Accounting | $27,543 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,664 |
| Advertising and promotion | $34,233 |
| Office expenses | $75,844 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $75,268 |
| Travel | $33,282 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,196 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,768 |
| Insurance | $9,299 |
| All other expenses | $0 |
| Total functional expenses | $1,755,935 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,759,113 |
| Savings and temporary cash investments | $2,183,171 |
| Pledges and grants receivable | $143,739 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,163,014 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $31,831 |
| Investments—publicly traded securities | $1,322,521 |
| Investments—other securities | $0 |
| Investments—program-related | $30,735,077 |
| Intangible assets | $0 |
| Other assets | $555,418 |
| Total assets | $47,893,884 |
| Accounts payable and accrued expenses | $315,993 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $315,993 |
| Net assets without donor restrictions | $162,844 |
| Net assets with donor restrictions | $47,415,047 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $47,893,884 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Invest Nebraska Corp has recieved totaling $290,000.
| Awarding Organization | Amount |
|---|---|
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT FOR THE LAUNCH OF A PRECISION AGRICULTURE ENTREPRENEURSHIP EDUCATION PROGRAM DESIGNED TO SUPPORT THE CREATION AND GROWTH OF AGRICULTURE RELATED STARTUPS IN THE NORFOLK, NEBRASKA REGION. 202105-10655 | $125,000 |
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT FOR THE LAUNCH OF A PRECISION AGRICULTURE ENTREPRENEURSHIP EDUCATION PROGRAM DESIGNED TO SUPPORT THE CREATION AND GROWTH OF AGRICULTURE RELATED STARTUPS IN THE NORFOLK, NEBRASKA REGION. 202105-10655 | $125,000 |
Peter Kiewit Foundation Omaha, NE PURPOSE: TO PROVIDE THREE YEARS OF PROGRAM SUPPORT FOR THE COMBINE. | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Low Income Family Enrichment Corporation Aspen, CO | $22,265,612 | $3,165,701 |
Invest Nebraska Corp Lincoln, NE | $47,893,884 | $10,253,547 |
Opensky Policy Institute Lincoln, NE | $1,977,382 | $1,072,633 |
Iowa Taxpayers Association Des Moines, IA | $404,736 | $328,664 |
Pharmacy Agent Corporation Jefferson City, MO | $27,152,130 | $686,100 |
United For Missouris Future Jefferson City, MO | $24,232 | $0 |
Great Plains Federal Tax Institute Inc Lincoln, NE | $282,878 | $0 |
Taxpayers Association Of Central Iowa Des Moines, IA | $101,183 | $0 |
Advanced Strategies Ltd Denver, CO | $27,519 | $0 |
Heart Of America Tax Institute Kansas City, MO | $89,889 | $0 |