Civic Intelligence

Albion Economic Development Corporation

990 • Fiscal year 2023 • EIN 32-0108328

Apr 01, 2022 to Mar 31, 2023 • Filed on May 10, 2023

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

24th percentile

0.00x

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

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

24th percentile

0.00x

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

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Net Margin

98th percentile

55%

Higher net margin than 98% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Asset Growth

91st percentile

38%

Faster asset growth than 91% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

98th percentile

156%

Faster revenue growth than 98% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets24th percentile

Assets

Up

$809,384

Up $221,110 (+38%) from 2022

Net Assets

Up

$809,384

Up $221,110 (+38%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin98th percentile

Revenue

Up

$402,607

Up $245,149 (+156%) from 2022

Expenses

Up

$181,497

Up $64,934 (+56%) from 2022

Net Income

Up

$221,110

Up $180,215 (+441%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth91st 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

2023

Assets$809,384
Liabilities$0
Net Assets$809,384
Open 2023 Filing

Operations Trend

Revenue Growth98th 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

2023

Revenue$402,607
Expenses$181,497
Net Income$221,110
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2022 to Mar 31, 2023
Signed
May 10, 2023
Return Version
2022v5.0
Gross Receipts
$402,607
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$569,910$809,384▲ $239,474
Savings and Temporary Cash Investments$262,240$481,030▲ $218,790
Land, Buildings, and Equipment, Net-$171,643-
Cap Stk Tr Prin Current Funds$16,380--
Cash and Non-Interest-Bearing Accounts$3,070$2,016▼ $1,054
Pd in Cap Srpls Land Bldg Eqp Fund$1,984--
Other Notes and Loans Receivable, Net$1,250--
Total Assets$588,274$809,384▲ $221,110
Other Assets Total$321,714$154,695▼ $167,019
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$588,274$809,384▲ $221,110
Total Liabilities and Net Assets / Fund Balance$588,274$809,384▲ $221,110

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$161,643$3,566$165,209
Land$10,000-$10,000
Other Assets Org$6,679--
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Jeffrey C JareckiPresident/di
Brock KuesterDirector
John MoellerDirector
Michelle GragertDirector
Samantha KlevelandDirector
Tony LevanderDirector
Steven RuzekTreasurer
Andy RobertsVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$329,651
Program Service Revenue
$68,590
Investment Income
$4,366
Other Revenue
$0
All Other Contributions
$6,080
Change in Net Assets
$221,110
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$136,756
Other Expenses$44,741
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$135,506--$135,506
Occupancy$21,482$7,161-$28,643
Depreciation Depletion$2,674$892-$3,566
Insurance$1,485$495-$1,980
Grants to Domestic Individuals$1,250--$1,250
Advertising$1,142--$1,142
Fees for Services Legal$803$268-$1,071
Fees for Services Other-$940-$940
Fees for Services Accounting$679$226-$905
Conferences and Meetings$839--$839
Information Technology$487$163-$650
Office Expenses$81$27-$108
Other Expenses$24--$24
Total Functional Expenses$171,325$10,172$0$181,497
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
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
2023-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey C Jarecki
Formed
2003
Legal Domicile
Ne
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
1

Preparer

Firm
Mueller & Honcik Pc
Address
1365 24TH AVENUE STE 100, COLUMBUS, NE 68601-5025
Preparer
Jordan Mueller CPA
Phone
4025633538
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS & FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
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ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$809,384
Liabilities
$0
Net assets
$809,384
Revenue
$402,607
Expenses
$181,497
Net income
$221,110
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