Civic Intelligence

Albion Economic Development Corporation

990 • Fiscal year 2021 • EIN 32-0108328

Apr 01, 2020 to Mar 31, 2021 • Filed on Jun 30, 2021

Organization ProfileN/A
233 S 4th StreetAlbion, 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.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

22nd percentile

0.00x

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

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Net Margin

85th percentile

32%

Higher net margin than 85% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

46th percentile

$0

Higher top officer pay than 46% of similar nonprofits.

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

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Asset Growth

37th percentile

6.2%

Faster asset growth than 37% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

96th percentile

163%

Faster revenue growth than 96% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$547,379

Up $31,721 (+6.2%) from 2020

Net Assets

Up

$547,379

Up $31,721 (+6.2%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue22nd percentileNet Margin85th percentile

Revenue

Up

$99,844

Up $61,830 (+163%) from 2020

Expenses

Down

$68,123

Down $46,017 (-40%) from 2020

Net Income

Up

$31,721

Up $107,847 (+142%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth37th 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

2021

Assets$547,379
Liabilities$0
Net Assets$547,379
Open 2021 Filing

Operations Trend

Revenue Growth96th 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

2021

Revenue$99,844
Expenses$68,123
Net Income$31,721
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2020 to Mar 31, 2021
Signed
Jun 30, 2021
Return Version
2020v4.0
Gross Receipts
$99,844
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$497,294$529,015▲ $31,721
Savings and Temporary Cash Investments$242,532$276,872▲ $34,340
Cap Stk Tr Prin Current Funds$16,380$16,380→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$1,984$1,984→ $0
Cash and Non-Interest-Bearing Accounts$2,925$306▼ $2,619
Total Assets$515,658$547,379▲ $31,721
Other Assets Total$270,201$270,201→ $0
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$515,658$547,379▲ $31,721
Total Liabilities and Net Assets / Fund Balance$515,658$547,379▲ $31,721

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$6,679--
Compensation and Service Providers
Top Officer Pay46th percentile

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
$97,503
Program Service Revenue
$0
Investment Income
$2,341
Other Revenue
$0
All Other Contributions
$3
Change in Net Assets
$31,721
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$63,882
Other Expenses$4,241
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$45,000
Grants to Domestic Individuals---$18,882
Fees for Services Other---$1,460
Fees for Services Accounting---$1,085
Occupancy---$765
Insurance---$525
Information Technology---$300
Advertising---$106
Total Functional Expenses$0$0$0$68,123
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
Boone BeginningsAlbion, NE-Early Childhood Dev$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
233 S 4TH STREET, ALBION, NE 68620

Signing Officer

Name
Jeffrey C Jarecki
Title
President/director
Phone
4023956004
Signed
2021-06-30
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 Appendix363 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 & COVID 19 RELIEF GRANTS TO 14 LOCAL BUSINESSES AND INDIVIDUALS TOTALING 18,882 AND 5,000 TO THE CITY OF ALBION FOR PROJECT ASSISTANCE ON A MINI PARK. THE AEDC ALSO PROVIDES FUNDS OF 20,000 TO THE BOONE COUNTY DEVELOPMENT ASSOCIATION (BCDA), INC TO PROMOTE THE ALBION TRADE AREA, 10,000 TO THE BOONE COUNTY AG SOCIETY TO HELP FUND A FAIRGROUND PROJECT AND 10,000 TO THE BOONE BEGINNINGS TO HELP FUND EARLY CHILDHOOD DEVELOPMENT.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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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/GrantTypeTxt7COVID 19 GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt8COVID 19 GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt9COVID 19 GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt10COVID 19 GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt11COVID 19 GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt12COVID 19 GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt13COVID 19 GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt14COVID 19 GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt15COVID 19 GRANT
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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/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/PreparerPersonGrp/PreparationDt02021-07-12
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ReturnHeader/ReturnTs02021-07-12T09:17:44-05:00
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ReturnHeader/TaxPeriodBeginDt02020-04-01
ReturnHeader/TaxPeriodEndDt02021-03-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$547,379
Liabilities
$0
Net assets
$547,379
Revenue
$99,844
Expenses
$68,123
Net income
$31,721
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