Civic Intelligence

Albion Economic Development Corporation

990 • Fiscal year 2020 • EIN 32-0108328

Apr 01, 2019 to Mar 31, 2020 • Filed on Jul 15, 2020

Organization ProfileN/A
PO Box 471Albion, NE 68620

(402) 395-6004

Siviq Scores

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

Liabilities / Assets

21st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

21st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Net Margin

1st percentile

-200%

Higher net margin than 1% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2020

Asset Growth

13th percentile

-13%

Faster asset growth than 13% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

1st percentile

-83%

Faster revenue growth than 1% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets21st percentile

Assets

Down

$515,658

Down $76,126 (-13%) from 2019

Net Assets

Down

$515,658

Down $76,126 (-13%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin1st percentile

Revenue

Down

$38,014

Down $182,052 (-83%) from 2019

Expenses

Up

$114,140

Up $37,164 (+48%) from 2019

Net Income

Down

-$76,126

Down $219,216 (-153%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$3.0M$2.0M$1.0M$0Assets 2014: $338,251Liabilities 2014: $0Net Assets 2014: $338,2512014Assets 2015: $565,574Liabilities 2015: $0Net Assets 2015: $565,5742015Assets 2016: $449,699Liabilities 2016: $0Net Assets 2016: $449,6992016Assets 2017: $308,167Liabilities 2017: $0Net Assets 2017: $308,1672017Assets 2018: $448,694Liabilities 2018: $0Net Assets 2018: $448,6942018Assets 2019: $591,784Liabilities 2019: $0Net Assets 2019: $591,7842019Assets 2020: $515,658Liabilities 2020: $0Net Assets 2020: $515,6582020Assets 2021: $547,379Liabilities 2021: $0Net Assets 2021: $547,3792021Assets 2022: $588,274Liabilities 2022: $0Net Assets 2022: $588,2742022Assets 2023: $809,384Liabilities 2023: $0Net Assets 2023: $809,3842023Assets 2024: $2,308,179Liabilities 2024: $184,746Net Assets 2024: $2,123,4332024Assets 2025: $2,317,314Liabilities 2025: $184,746Net Assets 2025: $2,132,5682025

Highlighted filing

2020

Assets$515,658
Liabilities$0
Net Assets$515,658
Open 2020 Filing

Operations Trend

Revenue Growth1st percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $5,011Expenses 2014: $53,218Net Income 2014: -$48,2072014Revenue 2015: $307,267Expenses 2015: $79,944Net Income 2015: $227,3232015Revenue 2016: $8,322Expenses 2016: $124,197Net Income 2016: -$115,8752016Revenue 2017: $5,205Expenses 2017: $146,737Net Income 2017: -$141,5322017Revenue 2018: $255,827Expenses 2018: $115,300Net Income 2018: $140,5272018Revenue 2019: $220,066Expenses 2019: $76,976Net Income 2019: $143,0902019Revenue 2020: $38,014Expenses 2020: $114,140Net Income 2020: -$76,1262020Revenue 2021: $99,844Expenses 2021: $68,123Net Income 2021: $31,7212021Revenue 2022: $157,458Expenses 2022: $116,563Net Income 2022: $40,8952022Revenue 2023: $402,607Expenses 2023: $181,497Net Income 2023: $221,1102023Revenue 2024: $1,498,759Expenses 2024: $184,710Net Income 2024: $1,314,0492024Revenue 2025: $150,700Expenses 2025: $141,565Net Income 2025: $9,1352025

Highlighted filing

2020

Revenue$38,014
Expenses$114,140
Net Income-$76,126
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2019 to Mar 31, 2020
Signed
Jul 15, 2020
Return Version
2019v5.0
Gross Receipts
$38,014
Mission and Program Overview

Mission

Organization's mission is to promote development in the albion trade area by loaning funds or furnishing sites and buildings for industries interested in locating in albion and its trade territory.

Organization's purpose is to promote development in the albion trade area by loaning funds and/or providing economic assistance

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$573,420$497,294▼ $76,126
Savings and Temporary Cash Investments$319,172$242,532▼ $76,640
Cap Stk Tr Prin Current Funds$16,380$16,380→ $0
Cash and Non-Interest-Bearing Accounts$2,111$2,925▲ $814
Pd in Cap Srpls Land Bldg Eqp Fund$1,984$1,984→ $0
Total Assets$591,784$515,658▼ $76,126
Other Assets Total$270,501$270,201▼ $300
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$591,784$515,658▼ $76,126
Total Liabilities and Net Assets / Fund Balance$591,784$515,658▼ $76,126

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$6,679--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Jeffrey C JareckiPresident/di
Brock KuesterDirector
DANI O'BRIENDirector
John MoellerDirector
Tanya SharpDirector
Tony LevanderDirector
Steven RuzekTreasurer/di
Andy RobertsVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$33,276
Program Service Revenue
$0
Investment Income
$4,738
Other Revenue
$0
All Other Contributions
$31,176
Change in Net Assets
$-76,126
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$107,252
Other Expenses$6,888
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals---$77,252
Grants to Domestic Orgs---$30,000
Fees for Services Other---$3,395
Fees for Services Accounting---$950
Advertising---$675
Occupancy---$604
Insurance---$525
Office Expenses---$439
Information Technology---$300
Total Functional Expenses$0$0$0$114,140
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Bcda IncAlbion, NE-Promote Boone County$20,000
Bo Co Ag Ed CenterAlbion, NE-Fairground Project$10,000
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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 11B

“A copy of the form 990 is available to the board prior to the form 990 being filed.”

Form 990, Page 6, Part VI, Line 19

“Governing documents & financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Albion Economic Development
EIN
32-0108328
Phone
4023956004
Address
PO BOX 471, ALBION, NE 68620

Signing Officer

Name
Jeffrey C Jarecki
Title
President/director
Phone
4023956004
Signed
2020-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey C Jarecki
Formed
2003
Legal Domicile
Ne
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Schmeits Mueller & Martinsen Pc
Address
2204 14TH ST, COLUMBUS, NE 68601
Preparer
Jordan Mueller CPA
Phone
4025633538
Raw XML Appendix374 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/Desc0THE ALBION ECONOMIC DEVELOPMENT CORPORATION (AEDC)GAVE DOWNTOWN REVITALIZATION GRANTS TO 21 LOCAL BUSINESSES AND INDIVIDUALS TOTALING 45,834, 1,418 TO THE CITY OF ALBION FOR PROJECT ASSISTANCE ON A SPORT COMPLEX AND 30,000 TO EK HOLDINGS, LLC FOR A FACADE GRANT. THE AEDC ALSO PROVIDES FUNDS OF 20,000 TO THE BOONE COUNTY DEVELOPMENT ASSOCIATION (BCDA), INC TO PROMOTE THE ALBION TRADE AREA, AND 10,000 TO THE BOONE COUNTY AG SOCIETY TO HELP FND A FAIRGROUND PROJECT.
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0PROJECT ASSISTANCE
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt3DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt4DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt5DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt6DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt7DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt8DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt9DOWNTOWN REVITALZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt10DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt11DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt12DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt13DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt14DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt15DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt16DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt17DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt18DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt19DOWNTOWN REVITALIZATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt20DOWNTOWN REVITALIZATION
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IRS990ScheduleI/RecipientTable/CashGrantAmt110000
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1FAIRGROUND PROJECT
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS AVAILABLE TO THE BOARD PRIOR TO THE FORM 990 BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS & FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/FilingSecurityInformation/IPTm008:37:06
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ReturnHeader/PreparerPersonGrp/PhoneNum04025633538
ReturnHeader/PreparerPersonGrp/PreparationDt02020-07-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JORDAN MUELLER CPA
ReturnHeader/ReturnTs02020-07-21T08:37:06-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-04-01
ReturnHeader/TaxPeriodEndDt02020-03-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$515,658
Liabilities
$0
Net assets
$515,658
Revenue
$38,014
Expenses
$114,140
Net income
-$76,126
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.32$0.18$2.13$0.15$0.14$0.01
2024Detailed filing. Detailed filing data is available for this year.$2.31$0.18$2.12$1.50$0.18$1.31
2023Detailed filing. Detailed filing data is available for this year.$0.81$0.00$0.81$0.40$0.18$0.22
2022Detailed filing. Detailed filing data is available for this year.$0.59$0.00$0.59$0.16$0.12$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.55$0.00$0.55$0.10$0.07$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.52$0.00$0.52$0.04$0.11$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.59$0.00$0.59$0.22$0.08$0.14
2018Detailed filing. Detailed filing data is available for this year.$0.45$0.00$0.45$0.26$0.12$0.14
2017Detailed filing. Detailed filing data is available for this year.$0.31$0.00$0.31$0.01$0.15$0.14
2016Detailed filing. Detailed filing data is available for this year.$0.45$0.00$0.45$0.01$0.12$0.12
2015Detailed filing. Detailed filing data is available for this year.$0.57$0.00$0.57$0.31$0.08$0.23
2014Detailed filing. Detailed filing data is available for this year.$0.34$0.00$0.34$0.01$0.05$0.05