Northeast Economic Development Inc

Organization Overview

Northeast Economic Development Inc is located in Norfolk, NE. The organization was established in 2002. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeast Economic Development Inc 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 06/2023, Northeast Economic Development Inc generated $775.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $351.2k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (9.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

ADDRESS COMMUNITY AND ECONOMIC DEVELOPMENT OPPORTUNITIES IN NORTHEAST NEBRASKA, AND TO SEEK FUNDS, GRANTS, CONTRIBUTIONS AND ANY OTHER TYPE OF FUNDING TO ATTAIN THESE GOALS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE NO INTEREST, LOW INTEREST AND FORGIVABLE LOANS TO LOW INCOME FAMILIES AS DOWN PAYMENT MONIES FOR THE PURCHASE OF A HOME, OR FOR RESTORATION AND REHABILITATION OF THEIR HOME.


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Board, Officers & Key Employees

Name (title)Compensation
Kurt Dostal
Director
$0
Jerry Engdahl
Vice Preside
$0
Tina M Engelbart
Deputy Direc
$0
Sally Ganem
Director
$0
Rich Jablonski
Director
$0
Thomas Higginbotham Jr
Executive Di
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $412,596
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$412,596
Total Program Service Revenue$241,588
Investment income $63,290
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 $775,884

Grants Awarded

Over the last fiscal year, Northeast Economic Development Inc has awarded $750,686 in support to 3 organizations.

Grant RecipientAmount

VILLAGE OF THURSTON

PURPOSE: CDBG

$15,600

CITY OF HARTINGTON

PURPOSE: CDBG

$498,686

NORTHEAST NE ECONOMIC DEV DISTRICT

PURPOSE: CDBG

$236,400
View Grant Profile

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