Lincoln Chamber Economic Development Corporation
- Assets
- $1.1m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 24
- Location
- Lincoln, NE
- Founding
- 08/1965
- Data as of
- 12/2023
- EIN
- 47-6036618
Organization Overview
Lincoln Chamber Economic Development Corporation is located in Lincoln, NE. The organization was established in 1965. 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, Lincoln Chamber Economic Development Corporation employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lincoln Chamber Economic Development 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, Lincoln Chamber Economic Development Corporation generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $2.8m during the year ending 12/2023. While expenses have increased by 9.7% per year over the past 9 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.
Since 2017, Lincoln Chamber Economic Development Corporation has awarded 43 individual grants totaling $4,112,667. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE RETENTION, EXPANSION, AND LOCATION OF HIGH-INCOME JOBS AND NEW ECONOMY INDUSTRIES TO THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF INDUSTRIAL DEVELOPMENT IN THE CITY OF LINCOLN, NEBRASKA AND SERVING ALL CITIZENS OF THE CITY THROUGH THE "CONTINUE BUSINESS SURVEY PROGRAM," BY COORDINATING CORPORATE HEADQUARTER VISITS, INSTITUTING/PARTICIPATING IN KEY INDUSTRY COUNCILS AND PROMOTING UNIVERSITY-INDUSTRY LINKAGES.
MANUFACTURING TECH CERTIFICATION PROGRAM PROVIDES A UNIQUE OPPORTUNITY FOR THOSE WITH NO PRIOR EXPERIENCE IN THE MANUFACTURING INDUSTRY TO RECEIVE THE TRAINING NEEDED TO STEP INTO NEW CAREERS THAT OFFER EXCELLENT PAY AND BENEFITS. TRAINING INCLUDES BASIC MANUFACTURING PRINCIPLES AND FUNDAMENTALS OF SAFETY AS WELL AS SOFT SKILLS AND PROBLEM SOLVING. THE CLASS IS CREATED AND LED BY LINCOLN MANUFACTURING EMPLOYERS TO PROVIDE THE SKILLS AND CONFIDENCE NECESSARY FOR EMPLOYMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Caldwell Treasurer | OfficerTrustee | 1 | $0 |
Terry Heimes Board Chair | OfficerTrustee | 1 | $0 |
Bob Balfany Director | Trustee | 1 | $0 |
Tyler Dejong Director (part-Year) | Trustee | 1 | $0 |
Doug Duis Director | Trustee | 1 | $0 |
Kyle Fischer Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $189,293 |
| Government grants | $1,760,049 |
| All other contributions, gifts, grants, and similar amounts not included above | $45,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,994,842 |
| Total Program Service Revenue | $722,785 |
| Investment income | $4,067 |
| 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 | $2,724,244 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,287,500 |
| 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. | $144,219 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $711,658 |
| Pension plan accruals and contributions | $39,874 |
| Other employee benefits | $93,982 |
| Payroll taxes | $55,065 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,535 |
| Advertising and promotion | $169,528 |
| Office expenses | $6,764 |
| Information technology | $17,013 |
| Royalties | $0 |
| Occupancy | $82,264 |
| Travel | $34,738 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $69,157 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,851 |
| All other expenses | $32,124 |
| Total functional expenses | $2,824,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,118,686 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,118,686 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $650,916 |
| Net assets with donor restrictions | $467,770 |
| 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 | $1,118,686 |
Grants Awarded
Over the last fiscal year, Lincoln Chamber Economic Development Corporation has awarded $1,287,500 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
DUNCAN AVIATION PURPOSE: SBDF GRANT | $200,000 |
BESTORQ INC PURPOSE: SBDF GRANT | $75,000 |
FLYOVER VENTURES LLC PURPOSE: LAUNCH LNK | $25,000 |
MI INDUSTRIES INC PURPOSE: SBDF GRANT | $500,000 |
LINCOLN COMMUNITY FOUNDATION INC PURPOSE: INVESTMENT IN GENER8TOR SERIES | $300,000 |
NAVE ANALYTICS PURPOSE: LAUNCH LNK | $25,000 |