Civic Intelligence

Albion Economic Development Corporation

990 • Fiscal year 2024 • EIN 32-0108328

Apr 01, 2023 to Mar 31, 2024 • Filed on Aug 05, 2024

Organization ProfileN/A
127 S 4th StreetAlbion, NE 68620

(402) 395-4453

Siviq Scores

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

Liabilities / Assets

38th percentile

0.08x

Higher debt load relative to assets than 38% of similar nonprofits.

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

Liabilities / Revenue

43rd percentile

0.12x

Higher debt load relative to revenue than 43% of similar nonprofits.

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

Net Margin

99th percentile

88%

Higher net margin than 99% 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

99th percentile

185%

Faster asset growth than 99% of similar nonprofits.

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

Revenue Growth

99th percentile

272%

Faster revenue growth than 99% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$2,308,179

Up $1,498,795 (+185%) from 2023

Net Assets

Up

$2,123,433

Up $1,314,049 (+162%) from 2023

Liabilities

Up

$184,746

Up $184,746 from 2023

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin99th percentile

Revenue

Up

$1,498,759

Up $1,096,152 (+272%) from 2023

Expenses

Up

$184,710

Up $3,213 (+1.8%) from 2023

Net Income

Up

$1,314,049

Up $1,092,939 (+494%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth99th 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

2024

Assets$2,308,179
Liabilities$184,746
Net Assets$2,123,433
Open 2024 Filing

Operations Trend

Revenue Growth99th 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

2024

Revenue$1,498,759
Expenses$184,710
Net Income$1,314,049
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2023 to Mar 31, 2024
Signed
Aug 5, 2024
Return Version
2023v5.0
Gross Receipts
$1,498,759
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$809,384$2,123,433▲ $1,314,049
Savings and Temporary Cash Investments$481,030$1,108,434▲ $627,404
Land, Buildings, and Equipment, Net$171,643$207,413▲ $35,770
Other Notes and Loans Receivable, Net-$100,627-
Cash and Non-Interest-Bearing Accounts$2,016$24,603▲ $22,587
Total Assets$809,384$2,308,179▲ $1,498,795
Other Assets Total$154,695$867,102▲ $712,407
Liabilities
Other Liabilities-$184,746-
Total Liabilities$0$184,746▲ $184,746
Net Assets / Fund Balance
Total Net Assets Fund Balance$809,384$2,123,433▲ $1,314,049
Total Liabilities and Net Assets / Fund Balance$809,384$2,308,179▲ $1,498,795

Asset Categories

AssetBook ValueDepreciationBasis
Land$10,000-$10,000
Other Assets Org$6,679--
Compensation and Service Providers
Top Officer Pay29th 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
$1,309,110
Program Service Revenue
$152,605
Investment Income
$37,044
Other Revenue
$0
All Other Contributions
$41,240
Change in Net Assets
$1,314,049
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$103,372
Other Expenses$81,338
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$96,050--$96,050
Occupancy$33,621$11,208-$44,829
Interest$13,112--$13,112
Depreciation Depletion$6,572$2,191-$8,763
Grants to Domestic Individuals$7,322--$7,322
Fees for Services Accounting$4,162$1,388-$5,550
Office Expenses$2,398$800-$3,198
Insurance$1,915$638-$2,553
Fees for Services Other-$1,080-$1,080
Conferences and Meetings$738--$738
Advertising$577--$577
Travel$517--$517
Fees for Services Legal$96$32-$128
Other Expenses$43$100-$43
Total Functional Expenses$167,123$17,587$0$184,710
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Levander Funeral HomeAlbion, NE-Infrastructure Grant$39,050
Vet Properties LLCAlbion, NE-Infrastructure Grant$30,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Note Payable-cornerstone Bank$184,746
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
4023954453
Address
127 S 4TH STREET, ALBION, NE 68620

Signing Officer

Name
Jeffrey C Jarecki
Title
President/director
Phone
4023956004
Signed
2024-08-05
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
Volunteers
1

Preparer

Firm
Mueller & Honcik Pc
Address
1365 24TH AVENUE STE 100, COLUMBUS, NE 68601-5025
Preparer
Jordan Mueller CPA
Phone
4025633538
Raw XML Appendix383 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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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0867102
IRS990ScheduleD/TotalLiabilityAmt0184746
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt05000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt1822
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt21500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0FACADE IMPROVEMENT GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1SIGN GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2DEMO ASSISTANCE
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt11
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt21
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IRS990ScheduleI/RecipientTable/CashGrantAmt110000
IRS990ScheduleI/RecipientTable/CashGrantAmt239050
IRS990ScheduleI/RecipientTable/CashGrantAmt330000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0FAIRGROUND PROJECT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1EARLY CHILDHOOD DEV
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2INFRASTRUCTURE GRANT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3INFRASTRUCTURE GRANT
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2LEVANDER FUNERAL HOME
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3VET PROPERTIES LLC
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IRS990ScheduleI/RecipientTable/RecipientEIN1833102498
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1PO BOX 66
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt21555 S 6TH STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3PO BOX 310
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ALBION
IRS990ScheduleI/RecipientTable/USAddress/CityNm1ALBION
IRS990ScheduleI/RecipientTable/USAddress/CityNm2ALBION
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3NE
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd068620
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd168620
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd268620
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd368620
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IRS990/ScheduleORequiredInd0true
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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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0809384
IRS990/TotalAssetsEOYAmt02308179
IRS990/TotalAssetsGrp/BOYAmt0809384
IRS990/TotalAssetsGrp/EOYAmt02308179
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01309110
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017587
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0167123
IRS990/TotalFunctionalExpensesGrp/TotalAmt0184710
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0184746
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0809384
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02123433
IRS990/TotalProgramServiceRevenueAmt0152605
IRS990/TotalRevenueGrp/ExclusionAmt037044
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0152605
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01498759
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0809384
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02308179
IRS990/TravelGrp/ProgramServicesAmt0517
IRS990/TravelGrp/TotalAmt0517
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/ZIPCd068620
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JEFFREY C JARECKI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04023956004
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ALBION ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0ALBI
ReturnHeader/Filer/EIN0320108328
ReturnHeader/Filer/PhoneNum04023954453
ReturnHeader/Filer/USAddress/AddressLine1Txt0127 S 4TH STREET
ReturnHeader/Filer/USAddress/CityNm0ALBION
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NE
ReturnHeader/Filer/USAddress/ZIPCd068620
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0470628029
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MUELLER & HONCIK PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01365 24TH AVENUE STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COLUMBUS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0686015025
ReturnHeader/PreparerPersonGrp/PhoneNum04025633538
ReturnHeader/PreparerPersonGrp/PreparationDt02024-08-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JORDAN MUELLER CPA
ReturnHeader/ReturnTs02024-08-15T11:05:07-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-04-01
ReturnHeader/TaxPeriodEndDt02024-03-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,308,179
Liabilities
$184,746
Net assets
$2,123,433
Revenue
$1,498,759
Expenses
$184,710
Net income
$1,314,049
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