Invest Nebraska Corp
- Assets
- $61.6m
- Revenue
- $9.8m
- Investments
- $0.0
- Employees
- 11
- Location
- Lincoln, NE
- Founding
- 08/2002
- Data as of
- 12/2023
- 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 12/2023, Invest Nebraska Corp employed 11 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 12/2023, Invest Nebraska Corp generated $9.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $2.2m during the year ending 12/2023. While expenses have increased by 15.2% per year over the past 9 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
2023
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 INFRASTRUCTURE FOR TECHNOLOGY ENTREPRENEURS, AND ATTRACTING OUT-OF-STATE CAPITAL THROUGH ITS NETWORK OF VENTURE CAPITAL FUNDS. AS A STATEWIDE 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.
OPERATIONAL ASSISTANCE PROGRAM - PROVIDE OPERATIONAL ASSISTANCE TO THOSE STARTUP BUSINESSES THAT NEED TO COMPLETE ADDITIONAL PROJECTS IN ORDER TO ATTRACT OUTSIDE CAPITAL.
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.
NEBRASKA EMERGING GROWTH - THE ORGANIZATION ADMINISTERS FUNDS THE NEBRASKA DEPARTMENT OF ECONOMIC DEVELOPMENT RECEIVED UNDER THE STATE SMALL BUSINESS CREDIT INITIATIVE (SSBCI) PROGRAM OF THE U.S. TREASURY DEPARTMENT. CONVERTIBLE DEBT AND EQUITY INVESTMENTS FROM $100,000- $1,000,000 CAN BE USED FOR WORKING CAPITAL, AND INVENTORY/EQUIPMENT PURCHASES. FUNDS MUST BE MATCHED BY PRIVATE FUNDS AS OUTLINED IN THE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Young Director | Trustee | 0.5 | $0 |
Phil Bakken Chairman | OfficerTrustee | 0.5 | $0 |
Amy Johnson Director | Trustee | 0.5 | $0 |
Vishal Singh Director | Trustee | 0.5 | $0 |
Donna Kush Secretary | OfficerTrustee | 0.5 | $0 |
Craig Tuttle Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,133,571 |
| All other contributions, gifts, grants, and similar amounts not included above | $174,129 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,307,700 |
| Total Program Service Revenue | $178,613 |
| Investment income | $605,956 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,528,119 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,811,517 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $29,920 |
| 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. | $282,994 |
| Compensation of current officers, directors, key employees. | $99,018 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $574,387 |
| Pension plan accruals and contributions | $56,557 |
| Other employee benefits | $24,759 |
| Payroll taxes | $55,396 |
| Fees for services: Management | $40,032 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,957 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $70,692 |
| Advertising and promotion | $39,144 |
| Office expenses | $62,468 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $118,827 |
| Travel | $61,462 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50,395 |
| Interest | $1,052 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $58,255 |
| Insurance | $14,404 |
| All other expenses | $0 |
| Total functional expenses | $2,169,256 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,093,924 |
| Savings and temporary cash investments | $1,498,711 |
| Pledges and grants receivable | $306,520 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,163,320 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $67,669 |
| Investments—publicly traded securities | $1,210,340 |
| Investments—other securities | $0 |
| Investments—program-related | $41,087,032 |
| Intangible assets | $0 |
| Other assets | $1,151,116 |
| Total assets | $61,578,632 |
| Accounts payable and accrued expenses | $494,110 |
| 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 | $81,405 |
| Total liabilities | $575,515 |
| Net assets without donor restrictions | $285,400 |
| Net assets with donor restrictions | $60,717,717 |
| 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 | $61,578,632 |
Grants Awarded
Over the last fiscal year, Invest Nebraska Corp has awarded $27,609 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
METROPOLITAN COMMUNITY COLLEGE PURPOSE: ROBOTICS AND AUTOMATION RESEARCH | $12,609 |
NORTHEAST COMMUNITY COLLEGE PURPOSE: ROBOTICS AND AUTOMATION RESEARCH | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Low Income Family Enrichment Corporation Aspen, CO | $20,447,438 | $3,152,873 |
Invest Nebraska Corp Lincoln, NE | $61,578,632 | $9,811,517 |
Opensky Policy Institute Lincoln, NE | $2,039,491 | $1,109,497 |
Pharmacy Agent Corporation Jefferson City, MO | $7,676,071 | $646,866 |
Iowa Taxpayers Association Des Moines, IA | $400,609 | $339,882 |
United For Missouris Future Jefferson City, MO | $24,232 | $0 |
Great Plains Federal Tax Institute Inc Lincoln, NE | $284,058 | $0 |
Taxpayers Association Of Central Iowa Des Moines, IA | $160,238 | $0 |
Heart Of America Tax Institute Kansas City, MO | $126,063 | $0 |