Palmer Economic Development Corp: FY2022 Nonprofit Profile & Form 990 (EIN 27-0960193)

Revenue by fiscal year
FY2022	$18K
FY2023	$7K
FY2024	$16K

Expenses by fiscal year
FY2022	$14K
FY2023	$37K
FY2024	$27K

Net assets by fiscal year
FY2022	$62K
FY2023	$31K
FY2024	$21K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $14K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation

Tyler Wichmann

Director

$0Pt VII · Sec A

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Palmer Economic Development Corp is a nonprofit organization based in Palmer, NE.

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Provided by the organization

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1 program · in their own filed words · FY2022

01

Local economic development corporation receiving funds from sales tax dollars with a focus to provide single family affordable housing

Pt IX · col B

By the numbers

The FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$18K

Ln 12

Fees for servicesLn 2g$45K

Investment incomeLn 3−$27K

Money outPt IX

$14K

Ln 25

Programscol B$14K

Owns and owesPt X

$62K

net assets · Ln 32

Cash and savingsLn 1–2$83K

Total assetsLn 16$712K

LiabilitiesLn 26$650K

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a5

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$45K

Investment incomeLn 3−$27K

Total revenueLn 12$18K

Assets in detailPt X, end of year

CashLn 1$83K

Cash and savings togetherLn 1–2$83K

Total assetsLn 16$712K

LiabilitiesLn 26$650K

Net assetsLn 32$62K

OperationsPt I, VI

EmployeesI 50

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY22	End FY22
Cash and savingsLn 1–2		$83K
Total assetsLn 16	$0	$712K
LiabilitiesLn 26	$0	$650K
Net assetsLn 32	$0	$62K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other fees for servicesLn 11g	$396	$396
Office expensesLn 13	$180	$180
OccupancyLn 16	$716	$716
InterestLn 20	$5K	$5K
Other expenses (24a–d)Ln 24	$9K	$9K
Total functional expensesLn 25	$14K	$14K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$16K	$27K	−$11K	$21K	990 PDF
FY2023	$7K	$37K	−$30K	$31K	990 PDF
FY2022 Viewing	$18K	$14K	$4K	$62K	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2022 990 (6 parts)

Part I · Summary $18,365 revenue, 12 lines filed

I-8 Contributions and grants$0

I-9 Program service revenue$45,000

I-10 Investment income−$26,635

I-11 Other revenue$0

I-12 Total revenue$18,365

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expenses$14,481

I-18 Total expenses$14,481

I-19 Revenue less expenses$3,884

Part VI · Governance 5 of 5 board members independent, 4 to look at

VI-1a Voting members of the governing body5

VI-1b Independent voting members5

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $18,365 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $45,000$45,000

VIII-3 Investment incomeRelated to mission −$26,635−$26,635

VIII-12 Total revenueRelated to mission $18,365$18,365

Part IX · Statement of functional expenses $14,481 across 5 lines filed

IX-11g Other fees for servicesPrograms $396$396

IX-13 Office expensesPrograms $180$180

IX-16 OccupancyPrograms $716$716

IX-20 InterestPrograms $4,589$4,589

IX-24 Other expenses (24a–d)Programs $8,600$8,600

IX-25 Total functional expensesPrograms $14,481 · Management $0 · Fundraising $0$14,481

Part X · Balance sheet $711,564 assets, 8 lines filed

X-1 Cash, non-interest-bearing$82,716

X-8 Inventories for sale or use$628,848

X-16 Total assetsStart of year $0$711,564

X-25 Other liabilities$650,000

X-26 Total liabilitiesStart of year $0$650,000

X-27 Net assets without donor restrictions$61,564

X-32 Total net assets or fund balancesStart of year $0$61,564

X-33 Total liabilities and net assetsStart of year $0$711,564

Part XI · Reconciliation of net assets $61,564 net assets at year end

XI-1 Total revenue$18,365

XI-2 Total expenses$14,481

XI-3 Revenue less expenses$3,884

XI-9 Other changes in net assets$57,680

XI-10 Net assets at end of year$61,564

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Palmer Economic Development Corp FY2022 filing

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