Sherman County Economic Development Inc
- Assets
- $1.5m
- Revenue
- $267.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Loup City, NE
- Founding
- 06/2010
- Data as of
- 09/2022
- EIN
- 26-4618722
Organization Overview
Sherman County Economic Development Inc is located in Loup City, NE. The organization was established in 2010. According to its NTEE Classification (S30) the organization is classified as: Economic 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. Sherman County 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 09/2022, Sherman County Economic Development Inc generated $267.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $182.3k during the year ending 09/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ECONOMIC DEVELOPMENT OPPORTUNITIES WITHIN SHERMAN COUNTY, NEBRASKA IN ORDER TO INCREASE HOUSING, BUSINESS GROWTH, AND POPULATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADMINISTRATION OF REVOLVING LOAN PROGRAM AND LB 840 PROGRAM TO IMPROVE COMMUNITY THROUGH ECONOMIC DEVELOPMENT INCENTIVES ULTIMATELY BENEFITING APPROX. 3,200 PERSONS.
TO PROVIDE ECONOMIC DEVELOPMENT OPPORTUNITIES WITHIN SHERMAN COUNTY, NEBRASKA IN ORDER TO INCREASE HOUSING, BUSINESS GROWTH, AND POPULATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Bandur Secretary | Officer | 1 | $0 |
Mark Krueger Vice Preside | Officer | 1 | $0 |
Clayton Suckstorf President | Officer | 1 | $0 |
Kyle Kowalski Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $217,429 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,907 |
| Noncash contributions included in lines 1a–1f | $118,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $225,336 |
| Total Program Service Revenue | $43,210 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,138 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $267,410 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,769 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,967 |
| Fees for services: Management | $33,336 |
| Fees for services: Legal | $4,377 |
| Fees for services: Accounting | $4,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,396 |
| Advertising and promotion | $1,092 |
| Office expenses | $797 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,227 |
| Travel | $693 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $363 |
| Interest | $17,495 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,777 |
| Insurance | $10,379 |
| All other expenses | $301 |
| Total functional expenses | $182,349 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,474 |
| Savings and temporary cash investments | $0 |
| 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 | $724,476 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $663,076 |
| Total assets | $1,455,026 |
| 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 | $602,230 |
| Total liabilities | $602,230 |
| Net assets without donor restrictions | $796,087 |
| Net assets with donor restrictions | $56,709 |
| 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 | $1,455,026 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sherman County Economic Development Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Greater Grand Island Community Foundation Grand Island, NE PURPOSE: COMMUNITY IMPROVE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Entertainment & Omaha, NE | $158,635,208 | $95,451,675 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |
Region 10 League For Economic Assistance & Planning Inc Montrose, CO | $16,331,779 | $8,034,942 |
Wichita Convention & Tourism Bureau Wichita, KS | $3,697,930 | $5,439,635 |
South Central Kansas Economic Development District Inc Sckedd Bel Aire, KS | $6,963,572 | $7,360,259 |
Omaha Economic Development Corp Omaha, NE | $18,549,776 | $6,962,293 |
Economic Development Corporation Of Kansas City Missouri Kansas City, MO | $4,885,634 | $3,918,676 |
Grow South Dakota Sisseton, SD | $70,205,734 | $6,159,440 |