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The Builder Foundation FY2024 filing

Tax-deductible

Omaha, NE501(c)(3)Community Development EIN 47-0844890Revenue $202K in FY2024Latest return filed Oct 27, 2025

On file with the IRSthebuilderfoundation.org17445 Arbor St Ste 200, 68130-4645 · Omaha, NETax-exempt since May 2002Publicly supported charity — 170(b)(1)(A)(vi)

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Charitable and educational organization to encourage young individuals to enter the construction trade by providing education, training, and practical experience.

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

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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 6
filings with a surplus
Average deficit $3K a year · 2% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 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
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$9K
0.9% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$202K
+47% vs prior year
Spent
$222K
To programs
72%
Net assets
$929K
By yearFY2020–FY2025
Revenue
$202K
FY2024▲ +47%
Tap a bar for its year
Revenue by fiscal year
FY2020$96K
FY2021$109K
FY2022$189K
FY2023$137K
FY2024$202K
FY2025$348K
Expenses
$222K
FY2024▲ +23%
Tap a bar for its year
Expenses by fiscal year
FY2020$126K
FY2021$130K
FY2022$149K
FY2023$181K
FY2024$222K
FY2025$289K
Net assets
$929K
FY2024▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$974K
FY2021$953K
FY2022$992K
FY2023$948K
FY2024$929K
FY2025$987K

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

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

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2002.

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% · $160K Management & general 25% · $55K Fundraising 3% · $7K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Ken Sorensen
President
$0Pt VII · Sec A
Ted Grace
Board Member
$0Pt VII · Sec A
Mark Westergard
Board Member
$0Pt VII · Sec A
Sara Hansen
Board Member
$0Pt VII · Sec A
Mike Riedmann
Board Member
$0Pt VII · Sec A
Maline Staben
Treasurer
$0Pt VII · Sec A
Tom Christensen
Vice President
$0Pt VII · Sec A
Mark Bowder
Executive Director
$0Pt VII · Sec A
See The Builder Foundation 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

Trains young people for construction careers through education and hands-on experience.

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Provided by the organization

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3 programs · $160K · in their own filed words · FY2023
01

The builder foundation sponsors high school students at a local community college in the construction courses as well as providing scholarships to those young individuals who are seeking degrees in the construction industry

$160Kprogram expense
02

The board has developed 48 affordable rental units which produced developer fees and potentially an ongoing income stream from rental agreements in an effort to support and expand the mission of the builder foundation to help assist individuals entering into the construction trade.

Pt IX · col B
03

The builder foundation provides grants to instructors who provide training to high school students with interest in the construction industry

Pt IX · col B

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 · FY2025
Parker Family FoundationFY2025$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 4 grants · $88K · 2023–2024
Unitemized GrantFY2024$31,406
Unitemized GrantFY2024$10,000
Unitemized GrantFY2023$35,610
Unitemized GrantFY2023$10,500

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$202K
Ln 12
Gifts and grantsLn 1h$171K
Other incomeLn 4–11$30K
Fees for servicesLn 2g$1K
Money outPt IX
$222K
Ln 25
Programscol B$160K
Managementcol C$55K
Fundraisingcol D$7K
Owns and owesPt X
$929K
net assets · Ln 32
Cash and savingsLn 1–2$2K
Total assetsLn 16$937K
LiabilitiesLn 26$9K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$171K
Fundraising eventsLn 1c$22K
Fees for servicesLn 2g$1K
Other incomeLn 4–11$30K
Total revenueLn 12$202K
Assets in detailPt X, end of year
CashLn 1$2K
Cash and savings togetherLn 1–2$2K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$2K
Total assetsLn 16$937K
LiabilitiesLn 26$9K
Net assetsLn 32$929K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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$9K$2K
Land, buildings, equipmentLn 10c$379$0
Total assetsLn 16$950K$937K
LiabilitiesLn 26$2K$9K
Net assetsLn 32$948K$929K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$46K$46K
Legal feesLn 11b$60$60
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$123K$68K$48K$7K
Advertising and promotionLn 12$471$471
Office expensesLn 13$2K$2K
Depreciation, depletion and amortizationLn 22$379$379
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$46K$45K$667
Total functional expensesLn 25$222K$160K$55K$7K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Oct 27, 2025 $348K$289K$59K$987K 990 PDF
FY2024 ViewingFiled with the IRS Aug 14, 2024 $202K$222K−$20K$929K 990 PDF
FY2023Filed with the IRS Aug 8, 2023 $137K$181K−$43K$948K 990 PDF
FY2022Filed with the IRS May 16, 2023 $189K$149K$39K$992K 990 PDF
FY2021Filed with the IRS Sep 23, 2021 $109K$130K−$21K$953K 990 PDF
FY2020Filed with the IRS May 17, 2021 $96K$126K−$30K$974K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $202,449 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $135,466$171,422
I-9 Program service revenuePrior year $0$1,474
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $1,892$29,553
I-12 Total revenuePrior year $137,358$202,449
I-13 Grants and similar amounts paidPrior year $34,406$46,110
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 $146,315$176,106
I-18 Total expensesPrior year $180,721$222,216
I-19 Revenue less expensesPrior year −$43,363−$19,767
Part VI · Governance 11 of 11 board members independent, 4 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
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 $202,449 across 6 lines filed
VIII-1c Fundraising events$22,500
VIII-1f All other contributions, gifts and grants$148,922
VIII-1h Total contributions, gifts and grants$171,422
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,474$1,474
VIII-8 Net income from fundraising eventsExcluded from tax $29,553$29,553
VIII-12 Total revenueRelated to mission $1,474 · Unrelated business $0 · Excluded from tax $29,553$202,449
Part IX · Statement of functional expenses $222,216 across 9 lines filed
IX-2 Grants to domestic individualsPrograms $46,110$46,110
IX-11b Legal feesManagement $60$60
IX-11c Accounting feesManagement $2,500$2,500
IX-11g Other fees for servicesPrograms $68,405 · Management $48,203 · Fundraising $6,715$123,323
IX-12 Advertising and promotionManagement $471$471
IX-13 Office expensesManagement $1,784$1,784
IX-22 Depreciation, depletion and amortizationPrograms $379$379
IX-23 InsuranceManagement $1,660$1,660
IX-24 Other expenses (24a–d)Programs $45,262 · Management $667$45,929
IX-25 Total functional expensesPrograms $160,156 · Management $55,345 · Fundraising $6,715$222,216
Part X · Balance sheet $937,184 assets, 11 lines filed
Asset lines not itemized here account for $932,772; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $8,917$2,243
X-9 Prepaid expenses and deferred chargesStart of year $6,036$0
X-10c Land, buildings and equipment, netStart of year $379$0
X-15 Other assetsStart of year $2,189$2,169
X-16 Total assetsStart of year $950,293$937,184
X-17 Accounts payable and accrued expensesStart of year $1,970$8,648
X-26 Total liabilitiesStart of year $1,970$8,648
X-27 Net assets without donor restrictionsStart of year $498,323$471,036
X-28 Net assets with donor restrictionsStart of year $450,000$457,500
X-32 Total net assets or fund balancesStart of year $948,323$928,536
X-33 Total liabilities and net assetsStart of year $950,293$937,184
Part XI · Reconciliation of net assets $928,536 net assets at year end
XI-1 Total revenue$202,449
XI-2 Total expenses$222,216
XI-3 Revenue less expenses−$19,767
XI-4 Net assets at start of year$948,323
XI-5 Net unrealized gains (losses) on investments−$20
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$928,536

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

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