Cuming County Economic Development INC FY2022 filing

Tax-deductible

West Point, NE501(c)(3)Since 2014Community DevelopmentEIN 46-3184689Revenue $542K in FY2022

On file with the IRSsweethomecumingcounty.comPo Box 17, 68788-0017 · West Point, NETax-exempt since Oct 2016Publicly supported charity — 170(b)(1)(A)(vi)

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Encourage the retention and attraction of business in the area to help alleviate the depressed Economic status and low income throughout Cuming County

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
5 of 6
filings with a surplus
Average surplus $393K a year · 41% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
16 mo
of spending, in cash
Looks good: 15.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $175K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$52K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$542K
-52% vs prior year
Spent
$709K
To programs
100%
Net assets
$862K
By yearFY2020–FY2025
Revenue
$542K
FY2022▼ -52%
Tap a bar for its year
Revenue by fiscal year
FY2020$323K
FY2021$1.1M
FY2022$542K
FY2023$1.1M
FY2024$724K
FY2025$2.0M
Expenses
$709K
FY2022▲ +130%
Tap a bar for its year
Expenses by fiscal year
FY2020$108K
FY2021$308K
FY2022$709K
FY2023$952K
FY2024$445K
FY2025$884K
Net assets
$862K
FY2022▼ -16%
Tap a bar for its year
Net assets by fiscal year
FY2020$220K
FY2021$1.0M
FY2022$862K
FY2023$976K
FY2024$1.3M
FY2025$2.4M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2016-05-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Oct 2016.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $709K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
Officer
$0Pt VII · Sec A
Officer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Chairperson
$0Pt VII · Sec A
Secretary Tr
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Cuming County Economic 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

Provides grants for building demolition and business improvements in Cuming County, Nebraska.

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Provided by the organization

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3 programs · $677K · in their own filed words · FY2022
01

Owner

Occupied housing grants, provides support for substantial repairs and improvements to housing units owned by low-to-moderate income residents.

$415Kprogram expense
02

Rural workforce housing fund. It's purpose is to increase the supply and reduce the cost of workforce housing in nebraska rural communities.

$194Kprogram expense
03

Business Improvement Grant

It's purpose is to encourage local businesses to invest in their infrastructure. The grant funds pay for signage and exterior upgrades demo grant - it's purpose is to encourgage the demolition of local homes and buildings the have reached thier functional life and to encourage redevelopment.

$68Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$175K
Grants paid · 27 grants · $3.3M · 2020–2025
Unitemized GrantFY2025$375,637
Unitemized GrantFY2025$204,175
Unitemized GrantFY2025$100,000
Unitemized GrantFY2025$55,741
Unitemized GrantFY2025$36,207
Unitemized GrantFY2025$26,907
Unitemized GrantFY2025$19,934
Unitemized GrantFY2024$339,034
Unitemized GrantFY2024$71,050
Unitemized GrantFY2024$12,125
Unitemized GrantFY2023$380,278
Unitemized GrantFY2023$356,163
Unitemized GrantFY2023$107,074
Unitemized GrantFY2023$75,106
Unitemized GrantFY2023$12,290
Unitemized GrantFY2022$414,922
Unitemized GrantFY2022$194,232
Unitemized GrantFY2022$68,280
See all 27 grants →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$542K
Ln 12
Gifts and grantsLn 1h$542K
Money outPt IX
$709K
Ln 25
Programscol B$709K
Owns and owesPt X
$862K
net assets · Ln 32
Cash and savingsLn 1–2$914K
Total assetsLn 16$914K
LiabilitiesLn 26$52K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$542K
Government grantsLn 1e$519K
Total revenueLn 12$542K
Assets in detailPt X, end of year
CashLn 1$914K
Cash and savings togetherLn 1–2$914K
Total assetsLn 16$914K
LiabilitiesLn 26$52K
Net assetsLn 32$862K
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$1.1M$914K
Total assetsLn 16$1.1M$914K
LiabilitiesLn 26$81K$52K
Net assetsLn 32$1.0M$862K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$678K$678K
Management feesLn 11a$4K$4K
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$4K$4K
Advertising and promotionLn 12$203$203
Office expensesLn 13$15K$15K
Total functional expensesLn 25$709K$709K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.0M$884K$1.1M$2.4M 990 PDF
FY2024 $724K$445K$279K$1.3M 990 PDF
FY2023 $1.1M$952K$114K$976K 990 PDF
FY2022 Viewing $542K$709K−$168K$862K 990 PDF
FY2021 $1.1M$308K$809K$1.0M 990 PDF
FY2020 $323K$108K$215K$220K 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 $541,797 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,114,235$541,797
I-9 Program service revenue$0
I-10 Investment incomePrior year $43$0
I-11 Other revenuePrior year $3,350$0
I-12 Total revenuePrior year $1,117,628$541,797
I-13 Grants and similar amounts paidPrior year $300,379$678,373
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $8,076$31,124
I-18 Total expensesPrior year $308,455$709,497
I-19 Revenue less expensesPrior year $809,173−$167,700
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $541,797 across 4 lines filed
VIII-1a Federated campaigns$22,938
VIII-1e Government grants$518,859
VIII-1h Total contributions, gifts and grants$541,797
VIII-12 Total revenue$541,797
Part IX · Statement of functional expenses $709,497 across 6 lines filed
IX-2 Grants to domestic individualsPrograms $678,373$678,373
IX-11a Management feesPrograms $3,900$3,900
IX-11c Accounting feesPrograms $8,314$8,314
IX-11g Other fees for servicesPrograms $3,725$3,725
IX-12 Advertising and promotionPrograms $203$203
IX-13 Office expensesPrograms $14,982$14,982
IX-25 Total functional expensesPrograms $709,497 · Management $0 · Fundraising $0$709,497
Part X · Balance sheet $913,560 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $1,110,995$913,560
X-16 Total assetsStart of year $1,110,995$913,560
X-24 Unsecured notes and loans payableStart of year $81,396$51,661
X-26 Total liabilitiesStart of year $81,396$51,661
X-32 Total net assets or fund balancesStart of year $1,029,599$861,899
X-33 Total liabilities and net assetsStart of year $1,110,995$913,560
Part XI · Reconciliation of net assets $861,899 net assets at year end
XI-1 Total revenue$541,797
XI-2 Total expenses$709,497
XI-3 Revenue less expenses−$167,700
XI-4 Net assets at start of year$1,029,599
XI-10 Net assets at end of year$861,899

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

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