Civic Intelligence

Falls City Economic Development &

990 • Fiscal year 2024 • EIN 20-4688422

Jan 01, 2024 to Dec 31, 2024 • Filed on Jun 30, 2025

Organization ProfileWWW.FALLSCITYEDGE.COM
1705 Stone StreetFalls City, NE 68355

(402) 245-2105

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

32nd percentile

0.05x

Higher debt load relative to assets than 32% of similar nonprofits.

2024 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

52nd percentile

0.19x

Higher debt load relative to revenue than 52% of similar nonprofits.

2024 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2024

Net Margin

82nd percentile

18%

Higher net margin than 82% of similar nonprofits.

2024 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

29th percentile

$0

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2024

Asset Growth

9th percentile

-15%

Faster asset growth than 9% of similar nonprofits.

2024 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

32nd percentile

0.2%

Faster revenue growth than 32% of similar nonprofits.

2024 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Down

$1,250,083

Down $226,926 (-15%) from 2023

Net Assets

Up

$1,188,233

Up $110,829 (+10%) from 2023

Liabilities

Down

$61,850

Down $337,755 (-85%) from 2023

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin82nd percentile

Revenue

Up

$330,308

Up $733 (+0.2%) from 2023

Expenses

Up

$269,879

Up $34,189 (+15%) from 2023

Net Income

Down

$60,429

Down $33,456 (-36%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2011: $330,997Liabilities 2011: $54,950Net Assets 2011: $276,0472011Assets 2012: $162,196Liabilities 2012: $0Net Assets 2012: $162,1962012Assets 2013: $191,919Liabilities 2013: $21,000Net Assets 2013: $170,9192013Assets 2014: $305,024Liabilities 2014: $71,327Net Assets 2014: $233,6972014Assets 2015: $376,477Liabilities 2015: $43,900Net Assets 2015: $332,5772015Assets 2016: $434,158Liabilities 2016: $54,700Net Assets 2016: $379,4582016Assets 2017: $386,298Liabilities 2017: $40,250Net Assets 2017: $346,0482017Assets 2018: $416,996Liabilities 2018: $35,850Net Assets 2018: $381,1462018Assets 2019: $582,799Liabilities 2019: $163,534Net Assets 2019: $419,2652019Assets 2020: $1,021,549Liabilities 2020: $575,834Net Assets 2020: $445,7152020Assets 2021: $1,225,382Liabilities 2021: $571,584Net Assets 2021: $653,7982021Assets 2022: $880,769Liabilities 2022: $157,484Net Assets 2022: $723,2852022Assets 2023: $1,477,009Liabilities 2023: $399,605Net Assets 2023: $1,077,4042023Assets 2024: $1,250,083Liabilities 2024: $61,850Net Assets 2024: $1,188,2332024

Highlighted filing

2024

Assets$1,250,083
Liabilities$61,850
Net Assets$1,188,233
Open 2024 Filing

Operations Trend

Revenue Growth32nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2011: $219,490Expenses 2011: $310,876Net Income 2011: -$91,3862011Revenue 2012: $215,225Expenses 2012: $409,154Net Income 2012: -$193,9292012Revenue 2013: $239,521Expenses 2013: $239,521Net Income 2013: $02013Revenue 2014: $257,003Expenses 2014: $263,726Net Income 2014: -$6,7232014Revenue 2015: $253,329Expenses 2015: $253,329Net Income 2015: $02015Revenue 2016: $225,601Expenses 2016: $227,441Net Income 2016: -$1,8402016Revenue 2017: $217,238Expenses 2017: $291,958Net Income 2017: -$74,7202017Revenue 2018: $194,703Expenses 2018: $197,365Net Income 2018: -$2,6622018Revenue 2019: $225,349Expenses 2019: $225,349Net Income 2019: $02019Revenue 2020: $284,155Expenses 2020: $297,705Net Income 2020: -$13,5502020Revenue 2021: $519,784Expenses 2021: $337,964Net Income 2021: $181,8202021Revenue 2022: $232,585Expenses 2022: $214,098Net Income 2022: $18,4872022Revenue 2023: $329,575Expenses 2023: $235,690Net Income 2023: $93,8852023Revenue 2024: $330,308Expenses 2024: $269,879Net Income 2024: $60,4292024

Highlighted filing

2024

Revenue$330,308
Expenses$269,879
Net Income$60,429
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jun 30, 2025
Return Version
2024v5.0
Gross Receipts
$330,308
Mission and Program Overview

Mission

To recruit new businesses to the falls city area and assist existing businesses as needed in an effort to boost the local economy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$969,307--
Savings and Temporary Cash Investments$428,931$445,091▲ $16,160
Other Notes and Loans Receivable, Net$4,500$62,500▲ $58,000
Cash and Non-Interest-Bearing Accounts$74,271$16,175▼ $58,096
Total Assets$1,477,009$1,250,083▼ $226,926
Other Assets Total-$726,317-
Liabilities
Mortgage Notes Payable Secured by Investment Property$337,380--
Deferred Revenue$62,225$61,850▼ $375
Total Liabilities$399,605$61,850▼ $337,755
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,077,404$1,188,233▲ $110,829
Total Net Assets Fund Balance$1,077,404$1,188,233▲ $110,829
Total Liabilities and Net Assets / Fund Balance$1,477,009$1,250,083▼ $226,926

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$323,426--
Compensation and Service Providers
Top Officer Pay29th percentile

Board Members and Trustees

NameTitle
Kevin MalonePresident
Amber HolleDirector
Anthony NussbaumDirector
Brian DaakeDirector
Chris HalbertDirector
David GoffDirector
David SickelDirector
Derrick LeydenDirector
Joe RectorDirector
Kelly BletscherDirector
Kristen PoppeDirector
Mark HarkendorffDirector
Samantha ScheitelDirector
Steve SeverinDirector
Tim HeckenlivelyDirector
Bart KellerExecutive Co
Mitch MerzExecutive Co
Ray JoyExecutive Co
Ryan LarsenExecutive Co
Steve KottichExecutive Co
Lucas FroeschlExecutive Di
Rod RowlandVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$291,305
Program Service Revenue
$0
Investment Income
$13,170
Other Revenue
$25,833
All Other Contributions
$40,000
Change in Net Assets
$60,429
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$187,593
Salaries, Compensation, and Employee Benefits$82,286
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$74,716
All Other Expenses---$10,984
Other Expenses---$7,108
Conferences and Meetings---$5,756
Payroll Taxes---$5,660
Occupancy---$5,097
Fees for Services Accounting---$3,885
Office Expenses---$3,865
Insurance---$3,793
Other Employee Benefits---$1,910
Information Technology---$1,832
Total Functional Expenses$0$0$0$269,879
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Rod rowland all officers & directors bank officer banking adam morris all officers & directors inv. Rep. Investments kevin malone all officers & directors loan officer banking steve kottich all officers & directors ins. Agent insurance”

Form 990, Page 6, Part VI, Line 6

“The organization has six levels of members: visionary champion catalyst advocate supporter public investor”

Form 990, Page 6, Part VI, Line 7A

“The organization has members who may elect one or more members of the governing body, which is referred to as the board of directors. At the organization's annual meeting, all members present cast votes for members to be on the board of directors. The selection of members of the board of directors is based on the percentage of members who attend the annual meeting. The board of directors make all decisions of the organization. An executive committee is in place to streamline some of the decision- making process.”

Form 990, Page 6, Part VI, Line 11B

“The executive director compiles information necessary for a local cpa firm to prepare the form 990. The local cpa firm provides monthly bookkeeping services, payroll preparation services, and the year-end form 990 filing. Once the cpa has completed a rough draft of the form 990, it is reviewed with the executive director and a final form 990 is produced. The executive director reviews the 990 with the cpa and they file it with the internal revenue service. The form 990 is then available for inspection upon request by the governing board and all members of the organization.”

Form 990, Page 6, Part VI, Line 19

“The governing documents and financial statements are made availble to the membership of the organization through a secured website.”

Filing and Contact Details

Filer

Filer Name
Falls City Economic Development &
EIN
20-4688422
Phone
4022452105
Address
1705 STONE STREET, FALLS CITY, NE 68355

Signing Officer

Name
Kevin Malone
Title
President
Phone
4022452015
Signed
2025-06-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lucas Froeschl
Formed
2006
Legal Domicile
Ne
Voting Board Members
19
Independent Board Members
19
Employees
2
Volunteers
20

Preparer

Firm
Robert W Aitken CPA Pc
Address
1621 STONE STREET PO BOX 429, FALLS CITY, NE 68355
Preparer
Robert W Aitken
Phone
4022455566
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“CONTINGENCY FUNDS 50,400”

Raw XML AppendixShowing 400 of 414 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4EXECUTIVE CO
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IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt0136
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt0136
IRS990/MissionDesc0TO RECRUIT NEW BUSINESSES TO THE FALLS CITY AREA AND ASSIST EXISTING BUSINESSES AS NEEDED IN AN EFFORT TO BOOST THE LOCAL ECONOMY.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt05097
IRS990/OfficeExpensesGrp/TotalAmt03865
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IRS990/OtherChangesInNetAssetsAmt050400
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01910
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IRS990/OtherExpensesGrp/Desc1PRODUCT DEVELOPMENT
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IRS990/OtherExpensesGrp/TotalAmt071572
IRS990/OtherExpensesGrp/TotalAmt162481
IRS990/OtherExpensesGrp/TotalAmt211220
IRS990/OtherExpensesGrp/TotalAmt37108
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IRS990/OtherRevenueMiscGrp/Desc1CHAMPIONS CROSSING FARM RENT
IRS990/OtherRevenueMiscGrp/Desc2NORTH COMMERCIAL CORRIDOR
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt023045
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt11402
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt21250
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt11402
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt21250
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IRS990/OtherSalariesAndWagesGrp/TotalAmt074716
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt04500
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt062500
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/TotalAmt05660
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0LUCAS FROESCHL
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0241768
IRS990/PYInvestmentIncomeAmt07772
IRS990/PYOtherExpensesAmt0158338
IRS990/PYOtherRevenueAmt080035
IRS990/PYRevenuesLessExpensesAmt093885
IRS990/PYSalariesCompEmpBnftPaidAmt077352
IRS990/PYTotalExpensesAmt0235690
IRS990/PYTotalRevenueAmt0329575
IRS990/ReconcilationRevenueExpnssAmt060429
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0428931
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IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1323426
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INVESTMENT IN CHAMPIONS CROSSING LLC
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1INVESTMENT IN FC AREA PROPERTIES LLC
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ROD ROWLAND ALL OFFICERS & DIRECTORS BANK OFFICER BANKING ADAM MORRIS ALL OFFICERS & DIRECTORS INV. REP. INVESTMENTS KEVIN MALONE ALL OFFICERS & DIRECTORS LOAN OFFICER BANKING STEVE KOTTICH ALL OFFICERS & DIRECTORS INS. AGENT INSURANCE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS SIX LEVELS OF MEMBERS: VISIONARY CHAMPION CATALYST ADVOCATE SUPPORTER PUBLIC INVESTOR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS MEMBERS WHO MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY, WHICH IS REFERRED TO AS THE BOARD OF DIRECTORS. AT THE ORGANIZATION'S ANNUAL MEETING, ALL MEMBERS PRESENT CAST VOTES FOR MEMBERS TO BE ON THE BOARD OF DIRECTORS. THE SELECTION OF MEMBERS OF THE BOARD OF DIRECTORS IS BASED ON THE PERCENTAGE OF MEMBERS WHO ATTEND THE ANNUAL MEETING. THE BOARD OF DIRECTORS MAKE ALL DECISIONS OF THE ORGANIZATION. AN EXECUTIVE COMMITTEE IS IN PLACE TO STREAMLINE SOME OF THE DECISION- MAKING PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE DIRECTOR COMPILES INFORMATION NECESSARY FOR A LOCAL CPA FIRM TO PREPARE THE FORM 990. THE LOCAL CPA FIRM PROVIDES MONTHLY BOOKKEEPING SERVICES, PAYROLL PREPARATION SERVICES, AND THE YEAR-END FORM 990 FILING. ONCE THE CPA HAS COMPLETED A ROUGH DRAFT OF THE FORM 990, IT IS REVIEWED WITH THE EXECUTIVE DIRECTOR AND A FINAL FORM 990 IS PRODUCED. THE EXECUTIVE DIRECTOR REVIEWS THE 990 WITH THE CPA AND THEY FILE IT WITH THE INTERNAL REVENUE SERVICE. THE FORM 990 IS THEN AVAILABLE FOR INSPECTION UPON REQUEST BY THE GOVERNING BOARD AND ALL MEMBERS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILBLE TO THE MEMBERSHIP OF THE ORGANIZATION THROUGH A SECURED WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONTINGENCY FUNDS 50,400
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0330308
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01250083
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt019
IRS990/VotingMembersIndependentCnt019
IRS990/WebsiteAddressTxt0HTTPS://WWW.FALLSCITYEDGE.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN MALONE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04022452015
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-06-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FALLS CITY ECONOMIC DEVELOPMENT &
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0GROWTH ENTERPRISE INC
ReturnHeader/Filer/BusinessNameControlTxt0FALL
ReturnHeader/Filer/EIN0204688422
ReturnHeader/Filer/PhoneNum04022452105
ReturnHeader/Filer/USAddress/AddressLine1Txt01705 STONE STREET
ReturnHeader/Filer/USAddress/CityNm0FALLS CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NE
ReturnHeader/Filer/USAddress/ZIPCd068355

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,250,083
Liabilities
$61,850
Net assets
$1,188,233
Revenue
$330,308
Expenses
$269,879
Net income
$60,429
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.25$0.06$1.19$0.33$0.27$0.06
2023Detailed filing. Detailed filing data is available for this year.$1.48$0.40$1.08$0.33$0.24$0.09
2022Detailed filing. Detailed filing data is available for this year.$0.88$0.16$0.72$0.23$0.21$0.02
2021Detailed filing. Detailed filing data is available for this year.$1.23$0.57$0.65$0.52$0.34$0.18
2020Detailed filing. Detailed filing data is available for this year.$1.02$0.58$0.45$0.28$0.30$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.58$0.16$0.42$0.23$0.23$0.00
2018Summary only. Only limited summary data is available for this year.$0.42$0.04$0.38$0.19$0.20$0.00
2017Summary only. Only limited summary data is available for this year.$0.39$0.04$0.35$0.22$0.29$0.07
2016Summary only. Only limited summary data is available for this year.$0.43$0.05$0.38$0.23$0.23$0.00
2015Summary only. Only limited summary data is available for this year.$0.38$0.04$0.33$0.25$0.25$0.00
2014Summary only. Only limited summary data is available for this year.$0.31$0.07$0.23$0.26$0.26$0.01
2013Summary only. Only limited summary data is available for this year.$0.19$0.02$0.17$0.24$0.24$0.00
2012Summary only. Only limited summary data is available for this year.$0.16$0.00$0.16$0.22$0.41$0.19
2011Summary only. Only limited summary data is available for this year.$0.33$0.05$0.28$0.22$0.31$0.09