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Merrick County Entertainment Corp

IRS exemption revoked

Central City, NEUnknown exempt organizationEIN 47-5222187Revenue $66K in FY2020

On file with the IRSP O Box 103 · Central City, NE

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To construct and operate a non-profit Entertainment facility for the central city community.

63¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
63%
of spending
Worth a look: 63% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.1M
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$66K
Spent
$175K
To programs
63%
Net assets
$105K

From the FY2020 Form 990 · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2024

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2020.

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

Where the money goes

63 cents of each dollar spent went to programs.

Program services 63% · $111K Management & general 37% · $64K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
Brian Buhlke
Board Member
$0Pt VII · Sec A
Chuck Griffith
Board Member
$0Pt VII · Sec A
Brian Krosch
Board Member
$0Pt VII · Sec A
Cody Lawson
Board Member
$0Pt VII · Sec A
Dale Soll
Board Member
$0Pt VII · Sec A
Darrell Widman
Board Member
$0Pt VII · Sec A
Norm Balliet
President
$0Pt VII · Sec A
$0Pt VII · Sec A
See Merrick County Entertainment Corp 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

Builds and runs a community entertainment center.

Questions for Merrick County Entertainment Corp

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Provided by the organization

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1 program · in their own filed words · FY2020
01

To construct and operate a non-profit entertainment facility for the central city area.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$66K
Ln 12
Gifts and grantsLn 1h$36K
Other incomeLn 4–11$30K
Investment incomeLn 3$166
Money outPt IX
$175K
Ln 25
Programscol B$111K
Managementcol C$64K
Owns and owesPt X
$105K
net assets · Ln 32
Cash and savingsLn 1–2$2
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$36K
Government grantsLn 1e$18K
Investment incomeLn 3$166
Other incomeLn 4–11$30K
Gains on assetsLn 7−$2
Total revenueLn 12$66K
Assets in detailPt X, end of year
CashLn 1$2
Cash and savings togetherLn 1–2$2
Land, buildings, equipmentLn 10c$1.2M
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.1M
Net assetsLn 32$105K
OperationsPt I, VI
EmployeesI 56
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
LineStart FY20End FY20
Cash and savingsLn 1–2$33K$2
Land, buildings, equipmentLn 10c$1.3M$1.2M
Total assetsLn 16$1.3M$1.2M
LiabilitiesLn 26$1.1M$1.1M
Net assetsLn 32$214K$105K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$12K$12K
Payroll taxesLn 10$942$942
Management feesLn 11a$8$8
Legal feesLn 11b$825$825
Accounting feesLn 11c$4K$4K
Other fees for servicesLn 11g$6K$6K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$1K$1K
OccupancyLn 16$29K$29K
InterestLn 20$45K$45K
Depreciation, depletion and amortizationLn 22$65K$758$64K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$3K$3K
Total functional expensesLn 25$175K$111K$64K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $66K$175K−$109K$105K 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 FY2020 990 (6 parts)
Part I · Summary $65,997 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $63,650$36,041
I-9 Program service revenue$0
I-10 Investment incomePrior year $1,730$166
I-11 Other revenuePrior year $119,838$29,790
I-12 Total revenuePrior year $185,218$65,997
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $43,467$13,261
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $186,993$161,681
I-18 Total expensesPrior year $230,460$174,942
I-19 Revenue less expensesPrior year −$45,242−$108,945
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $65,997 across 7 lines filed
Lines not itemized here account for $150 of total revenue; see the IRS return.
VIII-1e Government grants$18,273
VIII-1f All other contributions, gifts and grants$17,768
VIII-1h Total contributions, gifts and grants$36,041
VIII-3 Investment incomeRelated to mission $168$168
VIII-7 Net gain or loss on sales of assetsRelated to mission −$2−$2
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $29,640$29,640
VIII-12 Total revenueRelated to mission $29,956$65,997
Part IX · Statement of functional expenses $174,942 across 13 lines filed
IX-7 Other salaries and wagesPrograms $12,319$12,319
IX-10 Payroll taxesPrograms $942$942
IX-11a Management feesPrograms $8$8
IX-11b Legal feesPrograms $825$825
IX-11c Accounting feesPrograms $3,830$3,830
IX-11g Other fees for servicesPrograms $6,120$6,120
IX-12 Advertising and promotionPrograms $2,935$2,935
IX-13 Office expensesPrograms $1,304$1,304
IX-16 OccupancyPrograms $28,596$28,596
IX-20 InterestPrograms $44,929$44,929
IX-22 Depreciation, depletion and amortizationPrograms $758 · Management $64,362$65,120
IX-23 InsurancePrograms $4,989$4,989
IX-24 Other expenses (24a–d)Programs $3,025$3,025
IX-25 Total functional expensesPrograms $110,580 · Management $64,362 · Fundraising $0$174,942
Part X · Balance sheet $1,193,817 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $32,688$2
X-10c Land, buildings and equipment, netStart of year $1,258,935$1,193,815
X-16 Total assetsStart of year $1,301,980$1,193,817
X-26 Total liabilitiesStart of year $1,087,835$1,088,617
X-27 Net assets without donor restrictionsStart of year $214,145$105,200
X-32 Total net assets or fund balancesStart of year $214,145$105,200
X-33 Total liabilities and net assetsStart of year $1,301,980$1,193,817
Part XI · Reconciliation of net assets $105,200 net assets at year end
XI-1 Total revenue$65,997
XI-2 Total expenses$174,942
XI-3 Revenue less expenses−$108,945
XI-4 Net assets at start of year$214,145
XI-10 Net assets at end of year$105,200

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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