Grand Island Area Economic Development Corporation

Organization Overview

Grand Island Area Economic Development Corporation, operating under the name Corporation, is located in Grand Island, NE. The organization was established in 1957. 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 12/2023, Corporation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2023, Corporation generated $714.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $514.3k during the year ending 12/2023. 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

TO FURTHER GENERAL BUSINESS INTEREST.

Describe the Organization's Program Activity:

Part 3 - Line 4a

RECRUITING OF POTENTIAL INDUSTRIAL ENTITIES AND AIDING IN THE EXPANSION OF EXISTING INDUSTRIAL COMPANIES.


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Board, Officers & Key Employees

Name (title)Compensation
Mary Berlie
President
$170,549
Will Armstrong
Trustee
$0
Jerry Heidelk
Chairman
$0
Jack Henry
Vice-Chairma
$0
Jason Hornady
Trustee
$0
Bruce Lux
Secretary/tr
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$108,500
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$443,995
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$552,495
Total Program Service Revenue$109,290
Investment income $52,433
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 $714,218

Grants Awarded

Over the last fiscal year, Grand Island Area Economic Development Corporation has awarded $221,000 in support to 3 organizations.

Grant RecipientAmount

CENTAL NEBRASKA GROWTH FOUNDATION

PURPOSE: FOSTER ECONOMIC GROWTH IN CENTRAL NEBRASKA

$21,000

GRAND ISLAND LIVESTOCK COMPLEX AUTHORITY

PURPOSE: FOSTER ECONOMIC GROWTH IN CENTRAL NEBRASKA

$50,000

HENDRIX GENETICS

PURPOSE: FOSTER ECONOMIC GROWTH IN CENTRAL NEBRASKA

$150,000
View Grant Profile

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