Nebraska Economic Development Corporation
- Assets
- $5.5m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Lincoln, NE
- Founding
- 08/1996
- Data as of
- 09/2021
- 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. 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 09/2021, Nebraska Economic Development Corporation generated $1.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $1.5m during the year ending 09/2021. 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
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.
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 Director | OfficerTrustee | 40 | $500,951 |
Todd Mulliner President Of Operations | 40 | $169,981 | |
Jason Culver Chief Credit Officer | 40 | $146,737 | |
Will Sailors Loan Officer | 40 | $120,935 | |
Dennis Grams Chair | OfficerTrustee | 5 | $26,250 |
Jeff Reifschneider Director | Trustee | 5 | $24,000 |
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 | $1,904,305 |
| Investment income | $14,437 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$671 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,918,071 |
| 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. | $254,334 |
| Compensation of current officers, directors, key employees. | $228,901 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $663,295 |
| Pension plan accruals and contributions | $42,610 |
| Other employee benefits | $56,924 |
| Payroll taxes | $55,544 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $148,934 |
| Fees for services: Accounting | $19,188 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $33,789 |
| Office expenses | $28,523 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,277 |
| Travel | $5,788 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $113,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,258 |
| Insurance | $11,509 |
| All other expenses | $0 |
| Total functional expenses | $1,535,624 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,925 |
| Savings and temporary cash investments | $5,244,659 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $68,908 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $20,028 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,526 |
| Net Land, buildings, and equipment | $144,282 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,498,328 |
| Accounts payable and accrued expenses | $54,821 |
| 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 | $54,821 |
| Net assets without donor restrictions | $5,443,507 |
| 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 | $5,498,328 |
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