Omaha Economic Development Corp

Analysis

Omaha Economic Development Corp is a registered charity in United States, based in Omaha, NE. It received its IRS tax-exemption ruling in March 1979, 47 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Omaha Economic Development Corp reported income of $4.7m and spending of $5.4m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.8m to $4.7m (+25%), an average of +5.7% a year. The sharpest change came in the year to December 2021, when income rose by 49%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Omaha Economic Development Corp sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within NE. Charities of a similar size with the same main cause include Girl Scouts - Diamonds of Arkansas Oklahoma and Texas ($4.7m), Churches United in Ministry ($4.7m) and Access Reproductive Justice ($4.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $341k (6.4% of expenses). Other salaries and wages came to $298k. At year end it held assets of $20.9m against liabilities of $9.5m, net assets of $11.4m. It reported 10 employees.