Omaha Economic Development Corp
- Assets
- $19.6m
- Revenue
- $5.2m
- Investments
- $459.9k
- Employees
- 0
- Location
- Omaha, NE
- Founding
- 03/1979
- Data as of
- 12/2022
- EIN
- 47-0597743
Organization Overview
Omaha Economic Development Corp is located in Omaha, NE. The organization was established in 1979. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Omaha Economic Development 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 12/2022, Omaha Economic Development Corp generated $5.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $4.3m during the year ending 12/2022. While expenses have increased by 1.9% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY MANAGEMENT OF AFFORDABLE HOUSING UNITS WHICH ARE RENTED TO LOW/MODERATE INCOME FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cort Bonner Chair | OfficerTrustee | 1 | $0 |
Ernest Jwhite Treasurer | OfficerTrustee | 1 | $0 |
John Pierce Secretary | OfficerTrustee | 1 | $0 |
Brenda Council Vice Chair | OfficerTrustee | 1 | $0 |
Patricia Tooles-Dyer Director | Trustee | 1 | $0 |
Alisa Parmer Director | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,683,572 |
| All other contributions, gifts, grants, and similar amounts not included above | $296,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,980,072 |
| Total Program Service Revenue | $2,770,864 |
| Investment income | $9,008 |
| 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 | $5,224,740 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $634,448 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $164,531 |
| Payroll taxes | $47,234 |
| Fees for services: Management | $55,912 |
| Fees for services: Legal | $10,092 |
| Fees for services: Accounting | $82,137 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $203,500 |
| Advertising and promotion | $8,211 |
| Office expenses | $2,934 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $230,215 |
| Travel | $16,953 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $57,441 |
| Interest | $164,703 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $828,031 |
| Insurance | $209,887 |
| All other expenses | $128,091 |
| Total functional expenses | $4,339,892 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,325,130 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $436,875 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $126,815 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $29,509 |
| Net Land, buildings, and equipment | $10,708,534 |
| Investments—publicly traded securities | $1,322,160 |
| Investments—other securities | $459,860 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,151,350 |
| Total assets | $19,560,233 |
| Accounts payable and accrued expenses | $758,845 |
| Grants payable | $0 |
| Deferred revenue | $33,858 |
| 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 | $6,593,569 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $42,242 |
| Total liabilities | $7,428,514 |
| Net assets without donor restrictions | $9,244,648 |
| Net assets with donor restrictions | $2,887,071 |
| 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 | $19,560,233 |