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Southeast Nebraska Development INC FY2024 filing

Tax-deductible

Lincoln, NE501(c)(3)Community DevelopmentEIN 46-2902632Revenue $35K in FY2024

On file with the IRS7407 O St, 68510-2444 · Lincoln, NETax-exempt since Mar 2023Publicly supported charity — 170(b)(1)(A)(vi)

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To address community and economic Development opportunities in Southeast Nebraska, with attention to the needs of persons with low income, and to seek funds, grants, contributions, and any other type of funding to obtain these goals.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $56K a year · 26% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
141 mo
of spending, in cash
Looks good: 141.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$65K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$35K
-91% vs prior year
Spent
$161K
To programs
72%
Net assets
$3.3M
By yearFY2022–FY2025
Revenue
$35K
FY2024▼ -91%
Tap a bar for its year
Revenue by fiscal year
FY2022$388K
FY2023$374K
FY2024$35K
FY2025$65K
Expenses
$161K
FY2024▲ +192%
Tap a bar for its year
Expenses by fiscal year
FY2022$23K
FY2023$55K
FY2024$161K
FY2025$399K
Net assets
$3.3M
FY2024▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2022$3.2M
FY2023$3.5M
FY2024$3.3M
FY2025$2.9M

From the FY2024 Form 990 (year ending June 2024) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2021-11-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Mar 2023.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $116K Management & general 28% · $45K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Doug Goracke
President
$0Pt VII · Sec A
Rod Reisen
Vice President
$0Pt VII · Sec A
Pat Kenner
Treasurer
$0Pt VII · Sec A
Ann Jansky
Secretary
$0Pt VII · Sec A
Amy Behrends
At-Large
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Southeast Nebraska Development INC executive salaries →

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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

Improves community and economic development for low-income Southeast Nebraskans, seeking funding for these goals.

Questions for Southeast Nebraska Development INC

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Provided by the organization

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1 program · $116K · in their own filed words · FY2023
01

To address community and economic development opportunities in southeast nebraska, with attention to the needs of persons with low income, and to seek funds, grants, contributions, and any other type of funding to obtain these goals.

$116Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2020
Nebraska Community FoundationFY2020$15K
Total grants receivedfrom 1 funder$15K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$35K
Ln 12
Investment incomeLn 3$22K
Fees for servicesLn 2g$13K
Money outPt IX
$161K
Ln 25
Programscol B$116K
Managementcol C$45K
Owns and owesPt X
$3.3M
net assets · Ln 32
Cash and savingsLn 1–2$1.9M
Total assetsLn 16$3.3M
LiabilitiesLn 26$65K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$13K
Investment incomeLn 3$22K
Gains on assetsLn 7$5K
Total revenueLn 12$35K
Assets in detailPt X, end of year
SavingsLn 2$1.9M
Cash and savings togetherLn 1–2$1.9M
Other assetsLn 15$0
Total assetsLn 16$3.3M
LiabilitiesLn 26$65K
Net assetsLn 32$3.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderJune
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
LineStart FY24End FY24
Cash and savingsLn 1–2$1.8M$1.9M
Total assetsLn 16$3.5M$3.3M
LiabilitiesLn 26$12K$65K
Net assetsLn 32$3.5M$3.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$24K$24K
Other expenses (24a–d)Ln 24$148K$127K$21K
All other expensesLn 24e−$11K−$11K$97
Total functional expensesLn 25$161K$116K$45K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $65K$399K−$334K$2.9M 990 PDF
FY2024 Viewing $35K$161K−$126K$3.3M 990 PDF
FY2023 $374K$55K$319K$3.5M 990 PDF
FY2022 $388K$23K$365K$3.2M 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 FY2024 990 (6 parts)
Part I · Summary $34,776 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $297,282$0
I-9 Program service revenuePrior year $11,076$13,259
I-10 Investment incomePrior year $65,583$21,517
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $373,941$34,776
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $55,132$161,213
I-18 Total expensesPrior year $55,132$161,213
I-19 Revenue less expensesPrior year $318,809−$126,437
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $34,776 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $13,259$13,259
VIII-3 Investment incomeExcluded from tax $16,517$16,517
VIII-7 Net gain or loss on sales of assetsRelated to mission $5,000$5,000
VIII-12 Total revenueRelated to mission $18,259 · Unrelated business $0 · Excluded from tax $16,517$34,776
Part IX · Statement of functional expenses $161,213 across 3 lines filed
IX-11c Accounting feesManagement $24,215$24,215
IX-24 Other expenses (24a–d)Programs $127,060 · Management $20,815$147,875
IX-24e All other expensesPrograms −$10,974 · Management $97−$10,877
IX-25 Total functional expensesPrograms $116,086 · Management $45,127 · Fundraising $0$161,213
Part X · Balance sheet $3,341,353 assets, 7 lines filed
Asset lines not itemized here account for $1,446,959; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $1,754,962$1,894,394
X-15 Other assetsStart of year $630,000$0
X-16 Total assetsStart of year $3,522,412$3,341,353
X-17 Accounts payable and accrued expensesStart of year $12,207$64,875
X-26 Total liabilitiesStart of year $12,207$64,875
X-32 Total net assets or fund balancesStart of year $3,510,205$3,276,478
X-33 Total liabilities and net assetsStart of year $3,522,412$3,341,353
Part XI · Reconciliation of net assets $3,276,478 net assets at year end
XI-1 Total revenue$34,776
XI-2 Total expenses$161,213
XI-3 Revenue less expenses−$126,437
XI-4 Net assets at start of year$3,510,205
XI-8 Prior period adjustments−$107,290
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,276,478

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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