Omaha Economic Development Corp
- Assets
- $18.5m
- Revenue
- $7.0m
- Investments
- $122.3k
- Employees
- 10
- Location
- Omaha, NE
- Founding
- 03/1979
- Data as of
- 12/2021
- EIN
- 47-0597743
Organization Overview
Omaha Economic Development Corp is located in Omaha, NE. The organization was established in 1979. 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. As of 12/2021, Omaha Economic Development Corp employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Omaha Economic Development Corp 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 12/2021, Omaha Economic Development Corp generated $7.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $5.4m during the year ending 12/2021. While expenses have increased by 5.3% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY MANAGEMENT OF AFFORDABLE HOUSING UNITS WHICH ARE RENTED TO LOW/MODERATE INCOME FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael B Maroney President | Officer | 40 | $164,148 |
Alisa Parmer Director | OfficerTrustee | 1 | $0 |
Brenda Council Vice Chair | OfficerTrustee | 1 | $0 |
John Pierce Secretary | OfficerTrustee | 1 | $0 |
Cort Bonner Chair | OfficerTrustee | 1 | $0 |
Ernest Jwhite Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $430,464 |
| All other contributions, gifts, grants, and similar amounts not included above | $919,532 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,349,996 |
| Total Program Service Revenue | $2,809,588 |
| Investment income | $14,584 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $96,142 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,962,293 |
| 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. | $295,454 |
| Compensation of current officers, directors, key employees. | $48,602 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $444,034 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $138,251 |
| Payroll taxes | $51,955 |
| Fees for services: Management | $75,484 |
| Fees for services: Legal | $24,219 |
| Fees for services: Accounting | $90,306 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $544,842 |
| Advertising and promotion | $11,231 |
| Office expenses | $539,317 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $230,817 |
| Travel | $8,388 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,794 |
| Interest | $223,392 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $910,956 |
| Insurance | $246,389 |
| All other expenses | $105,172 |
| Total functional expenses | $5,363,265 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,957,240 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $306,913 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $132,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $33,252 |
| Net Land, buildings, and equipment | $11,755,382 |
| Investments—publicly traded securities | $1,579,159 |
| Investments—other securities | $122,328 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $663,502 |
| Total assets | $18,549,776 |
| Accounts payable and accrued expenses | $663,015 |
| Grants payable | $0 |
| Deferred revenue | $41,029 |
| 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 | $6,557,462 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $41,399 |
| Total liabilities | $7,302,905 |
| Net assets without donor restrictions | $10,182,831 |
| Net assets with donor restrictions | $1,064,040 |
| 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 | $18,549,776 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Omaha Economic Development Corp has recieved totaling $29,433.
| Awarding Organization | Amount |
|---|---|
Union Pacific Foundation Omaha, NE PURPOSE: ECONOMIC DEVELOPMENT | $29,433 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Entrepreneur Startup Business Development Corporation St Louis, MO | $30,546,182 | $5,633,965 |