Nebraska Economic Development Corporation

Analysis

Nebraska Economic Development Corporation is a registered charity in United States, based in Lincoln, NE. It received its IRS tax-exemption ruling in August 1996, 30 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Nebraska Economic Development Corporation reported income of $2.2m and spending of $1.6m, leaving 29% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.3m to $2.2m (+66%), an average of +14% a year. The sharpest change came in the year to September 2021, when income rose by 45%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Nebraska Economic Development Corporation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within NE. Charities of a similar size with the same main cause include Community Enhancement Services ($2.2m), Central Carolina Economic Development Alliance ($2.2m) and Greater Seattle Partners ($2.2m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 90% of the total. Compensation of current officers, directors and key employees was $244k (15% of expenses). Other salaries and wages came to $650k. At year end it held assets of $6.3m against liabilities of $238k, net assets of $6.0m. It reported 7 employees.