Palmer Economic Development Corp: FY2023 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% · $37K

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 · FY2023

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 FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$7K

Ln 12

Other incomeLn 4–11$6K

Fees for servicesLn 2g$1K

Money outPt IX

$37K

Ln 25

Programscol B$37K

Owns and owesPt X

$31K

net assets · Ln 32

Cash and savingsLn 1–2$27K

Total assetsLn 16$351K

LiabilitiesLn 26$320K

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$1K

Other incomeLn 4–11$6K

Total revenueLn 12$7K

Assets in detailPt X, end of year

CashLn 1$27K

Cash and savings togetherLn 1–2$27K

Total assetsLn 16$351K

LiabilitiesLn 26$320K

Net assetsLn 32$31K

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 FY23	End FY23
Cash and savingsLn 1–2	$83K	$27K
Total assetsLn 16	$712K	$351K
LiabilitiesLn 26	$650K	$320K
Net assetsLn 32	$62K	$31K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Accounting feesLn 11c	$810	$810
OccupancyLn 16	$2K	$2K
InterestLn 20	$17K	$17K
InsuranceLn 23	$3K	$3K
Other expenses (24a–d)Ln 24	$14K	$14K
Total functional expensesLn 25	$37K	$37K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$16K	$27K	−$11K	$21K	990 PDF
FY2023 Viewing	$7K	$37K	−$30K	$31K	990 PDF
FY2022	$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 FY2023 990 (6 parts)

Part I · Summary $6,550 revenue, 12 lines filed

I-8 Contributions and grants$0

I-9 Program service revenuePrior year $45,000$1,000

I-10 Investment incomePrior year −$26,635$0

I-11 Other revenue$5,550

I-12 Total revenuePrior year $18,365$6,550

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 expensesPrior year $14,481$36,793

I-18 Total expensesPrior year $14,481$36,793

I-19 Revenue less expensesPrior year $3,884−$30,243

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 $6,550 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,000$1,000

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $5,550$5,550

VIII-12 Total revenueRelated to mission $6,550$6,550

Part IX · Statement of functional expenses $36,793 across 5 lines filed

IX-11c Accounting feesPrograms $810$810

IX-16 OccupancyPrograms $1,804$1,804

IX-20 InterestPrograms $16,846$16,846

IX-23 InsurancePrograms $3,265$3,265

IX-24 Other expenses (24a–d)Programs $14,068$14,068

IX-25 Total functional expensesPrograms $36,793 · Management $0 · Fundraising $0$36,793

Part X · Balance sheet $351,321 assets, 8 lines filed

X-1 Cash, non-interest-bearingStart of year $82,716$26,566

X-8 Inventories for sale or useStart of year $628,848$324,755

X-16 Total assetsStart of year $711,564$351,321

X-25 Other liabilitiesStart of year $650,000$320,000

X-26 Total liabilitiesStart of year $650,000$320,000

X-27 Net assets without donor restrictionsStart of year $61,564$31,321

X-32 Total net assets or fund balancesStart of year $61,564$31,321

X-33 Total liabilities and net assetsStart of year $711,564$351,321

Part XI · Reconciliation of net assets $31,321 net assets at year end

XI-1 Total revenue$6,550

XI-2 Total expenses$36,793

XI-3 Revenue less expenses−$30,243

XI-4 Net assets at start of year$61,564

XI-10 Net assets at end of year$31,321

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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Palmer Economic Development Corp FY2023 filing

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