Nebraska Economic Development Corporation
- Assets
- $6.3m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 7
- Location
- Lincoln, NE
- Founding
- 08/1996
- Data as of
- 09/2023
- EIN
- 47-0721052
Organization Overview
Nebraska Economic Development Corporation is located in Lincoln, NE. The organization was established in 1996. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Nebraska Economic Development Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nebraska Economic Development Corporation 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 09/2023, Nebraska Economic Development Corporation generated $2.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $1.6m during the year ending 09/2023. 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
TO FURTHER THE ECONOMIC DEVELOPMENT AND SOCIAL WELFARE OF NEBRASKA BY FOSTERING INCREASED EMPLOYMENT OPPORTUNITIES AND EXPANSION OF BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROCESSING AND SERVICING EXPENSES INCURRED AS A STATEWIDE CERTIFIED DEVELOPMENT CORPORATION PURSUANT TO SECTION 504 OF TITLE V OF THE SMALL BUSINESS INVESTMENT ACT OF 1958.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Sailors Executive Di | OfficerTrustee | 40 | $239,555 |
Todd Mulliner President Of | 40 | $192,465 | |
Jason Culver Chief Credit | 40 | $116,956 | |
Will Sailors VP Lending | 40 | $109,327 | |
Dennis Grams Chair | OfficerTrustee | 5 | $21,000 |
Stephen Amundson Vice Chair | OfficerTrustee | 5 | $16,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,003,678 |
| Investment income | $233,453 |
| 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 | $2,237,131 |
| 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. | $244,334 |
| Compensation of current officers, directors, key employees. | $219,900 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $649,624 |
| Pension plan accruals and contributions | $40,463 |
| Other employee benefits | $56,086 |
| Payroll taxes | $60,347 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $174,313 |
| Fees for services: Accounting | $30,954 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,576 |
| Office expenses | $32,380 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,671 |
| Travel | $15,283 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $129,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,700 |
| Insurance | $24,305 |
| All other expenses | $0 |
| Total functional expenses | $1,583,265 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$277,476 |
| Savings and temporary cash investments | $951,055 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $338,229 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,507 |
| Net Land, buildings, and equipment | $127,633 |
| Investments—publicly traded securities | $4,906,326 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $199,693 |
| Total assets | $6,258,967 |
| Accounts payable and accrued expenses | $38,062 |
| 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 | $199,693 |
| Total liabilities | $237,755 |
| Net assets without donor restrictions | $6,021,212 |
| Net assets with donor restrictions | $0 |
| 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 | $6,258,967 |