Civic Intelligence

Greater Norfolk Economic Development Foundation Inc.

990 • Fiscal year 2022 • EIN 36-3441719

Jan 01, 2022 to Dec 31, 2022 • Filed on May 09, 2023

609 W Norfolk AveNorfolk, NE 68701

(402) 844-2264

Siviq Scores

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

Liabilities / Assets

89th percentile

0.80x

Higher debt load relative to assets than 89% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

9.42x

Higher debt load relative to revenue than 97% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

2nd percentile

-173%

Higher net margin than 2% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

11th percentile

-15%

Faster asset growth than 11% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

7th percentile

-50%

Faster revenue growth than 7% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Down

$9,485,734

Down $1,681,511 (-15%) from 2021

Net Assets

Down

$1,941,206

Down $1,384,778 (-42%) from 2021

Liabilities

Down

$7,544,528

Down $296,733 (-3.8%) from 2021

Revenue

Down

$800,725

Down $816,778 (-50%) from 2021

Expenses

Up

$2,185,125

Up $1,754,384 (+407%) from 2021

Net Income

Down

-$1,384,400

Down $2,571,162 (-217%) from 2021

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $1,841,571Liabilities 2010: $1,483,051Net Assets 2010: $358,5202010Assets 2011: $1,567,743Liabilities 2011: $1,123,854Net Assets 2011: $443,8892011Assets 2012: $1,576,081Liabilities 2012: $1,119,933Net Assets 2012: $456,1482012Assets 2013: $1,587,548Liabilities 2013: $1,122,194Net Assets 2013: $465,3542013Assets 2014: $1,554,891Liabilities 2014: $1,111,505Net Assets 2014: $443,3862014Assets 2015: $1,770,111Liabilities 2015: $915,246Net Assets 2015: $854,8652015Assets 2016: $1,698,437Liabilities 2016: $678,731Net Assets 2016: $1,019,7062016Assets 2017: $1,797,206Liabilities 2017: $600,000Net Assets 2017: $1,197,2062017Assets 2018: $1,948,856Liabilities 2018: $602,532Net Assets 2018: $1,346,3242018Assets 2019: $5,838,815Liabilities 2019: $4,060,844Net Assets 2019: $1,777,9712019Assets 2020: $6,705,552Liabilities 2020: $4,566,187Net Assets 2020: $2,139,3652020Assets 2021: $11,167,245Liabilities 2021: $7,841,261Net Assets 2021: $3,325,9842021Assets 2022: $9,485,734Liabilities 2022: $7,544,528Net Assets 2022: $1,941,2062022Assets 2023: $9,312,439Liabilities 2023: $7,461,344Net Assets 2023: $1,851,0952023Assets 2024: $8,974,752Liabilities 2024: $7,381,375Net Assets 2024: $1,593,3772024

Highlighted filing

2022

Assets$9,485,734
Liabilities$7,544,528
Net Assets$1,941,206

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2010: $710,8792010Expenses 2011: $558,6172011Expenses 2012: $194,6172012Revenue 2013: $190,035Expenses 2013: $180,829Net Income 2013: $9,2062013Revenue 2014: $266,368Expenses 2014: $288,337Net Income 2014: -$21,9692014Revenue 2015: $666,352Expenses 2015: $254,874Net Income 2015: $411,4782015Revenue 2016: $390,719Expenses 2016: $225,877Net Income 2016: $164,8422016Revenue 2017: $235,667Expenses 2017: $58,169Net Income 2017: $177,4982017Revenue 2018: $196,011Expenses 2018: $46,893Net Income 2018: $149,1182018Revenue 2019: $616,545Expenses 2019: $184,899Net Income 2019: $431,6462019Revenue 2020: $952,985Expenses 2020: $591,594Net Income 2020: $361,3912020Revenue 2021: $1,617,503Expenses 2021: $430,741Net Income 2021: $1,186,7622021Revenue 2022: $800,725Expenses 2022: $2,185,125Net Income 2022: -$1,384,4002022Revenue 2023: $1,274,311Expenses 2023: $1,364,423Net Income 2023: -$90,1122023Revenue 2024: $549,096Expenses 2024: $806,815Net Income 2024: -$257,7192024

Highlighted filing

2022

Revenue$800,725
Expenses$2,185,125
Net Income-$1,384,400
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 9, 2023
Return Version
2022v5.0
Gross Receipts
$805,835
Mission and Program Overview

Mission

Provide support to develop education, recreation, the local economy and other issues affecting the community in the future.

Provide programs to promote development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$6,249,374$6,079,046▼ $170,328
Land, Buildings, and Equipment, Net$3,704,052$2,900,289▼ $803,763
Cash and Non-Interest-Bearing Accounts$1,219,070$521,775▼ $697,295
Investments in Publicly Traded Securities$10,344$0▼ $10,344
Accounts Receivable$-15,595$-15,376▲ $219
Total Assets$11,167,245$9,485,734▼ $1,681,511
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,835,615$7,536,916▼ $298,699
Accounts Payable and Accrued Expenses$5,646$7,612▲ $1,966
Total Liabilities$7,841,261$7,544,528▼ $296,733
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,325,984$1,941,206▼ $1,384,778
Total Net Assets Fund Balance$3,325,984$1,941,206▼ $1,384,778
Total Liabilities and Net Assets / Fund Balance$11,167,245$9,485,734▼ $1,681,511

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,246,091$206,978$2,453,069
Land$654,198-$654,198
Compensation and Service Providers

Board Members and Trustees

NameTitle
Russ WilcoxPast President
Stephen SundermanPresident
Mike SousekVice-President
Andy ColvinDirector
Dan SprayDirector
Josh MoenningDirector
Mike FloodDirector
Ron SchmidtDirector
Thomas Higginbotham JrDirector
Tim TigheDirector
Jim Bradford JrSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$451,309
Program Service Revenue
$346,045
Investment Income
$3,371
Other Revenue
$0
All Other Contributions
$451,309
Change in Net Assets
$-1,384,400
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,541,379
Other Expenses$643,746
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,541,379--$1,541,379
Occupancy$92,938--$92,938
Interest$86,465--$86,465
Depreciation Depletion$62,606--$62,606
Other Expenses$35,957--$35,957
Fees for Services Accounting-$27,174-$27,174
Fees for Services Management$6,000--$6,000
Office Expenses-$222-$222
Fees for Services Other-$150-$150
Total Functional Expenses$2,157,579$27,546$0$2,185,125
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of NorfolkNorfolk, NE-Provide support to community for downtown construction and growth$805,330
MP Global Products LLCNorfolk, NE-Provide support to local economy$0
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
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

A copy of the Form 990 was given to the governing body to review before it was filed.

Form 990, Part VI, Section C, line 19

The governing documents are made available upon request at the organization's office.

Filing and Contact Details

Filer

Filer Name
Greater Norfolk Economic Development
EIN
36-3441719
Phone
4028442264
Address
609 W Norfolk Ave, Norfolk, NE 68701

Signing Officer

Name
Stephen Sunderman
Title
President
Phone
4028442264
Signed
2023-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Sunderman
Formed
1986
Legal Domicile
Ne
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
0

Preparer

Firm
McMill CPA PC
Address
125 South 4th Street, Norfolk, NE 68701
Preparer
Melissa Holan CPA
Phone
4023711160
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Rounding 2.

Raw XML AppendixShowing 400 of 480 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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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01147437
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0111989
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0312250
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02022985
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt03371
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0375
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt03746
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0346045
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0469691
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0840996
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0304295
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0196011
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02157038
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt03371
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0375
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt03746
IRS990ScheduleA/InvestmentIncomeCYPct00.00090
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99910
IRS990ScheduleA/PublicSupportPY509Pct00.99830
IRS990ScheduleA/PublicSupportTotal509Amt04180023
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0797354
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01617128
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0952985
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0616545
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0196011
IRS990ScheduleA/Total509Grp/TotalAmt04180023
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0800725
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01617503
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0952985
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0616545
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0196011
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04183769
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt02246091
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0206978
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02453069
IRS990ScheduleD/LandGrp/BookValueAmt0654198
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0654198
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02900289
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0805330
IRS990ScheduleI/RecipientTable/CashGrantAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt1736049
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0Building
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Provide support to community for downtown construction and growth
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Provide support to local economy
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0City of Norfolk
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1MP Global Products LLC
IRS990ScheduleI/RecipientTable/RecipientEIN0476006293
IRS990ScheduleI/RecipientTable/RecipientEIN1911838266
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0309 N 5th St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt12500 Old Hadar Rd
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Norfolk
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Norfolk
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NE
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd068701
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd168701
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0Book
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The organization received donations through "Growing Together" initiative specifically for the downtown Riverfront project so it then distributed the funds to the city for this purpose.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990ScheduleI/TotalOtherOrgCnt02
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A copy of the Form 990 was given to the governing body to review before it was filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The governing documents are made available upon request at the organization's office.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Rounding 2.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part XI, line 9:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Norfolk Area Chamber of Commerce
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1Norfolk Area Chamber of Commerce Foundation
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0470253970
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1271441871
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Benefit members through various programs.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1Dedication to charitable activities and community development activities
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0609 W Norfolk Ave
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1609 W Norfolk Ave
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Norfolk
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Norfolk
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1NE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd068701
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd168701
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.97$7.38$1.59$0.55$0.81$0.26
2023Detailed filing. Detailed filing data is available for this year.$9.31$7.46$1.85$1.27$1.36$0.09
2022Detailed filing. Detailed filing data is available for this year.$9.49$7.54$1.94$0.80$2.19$1.38
2021Detailed filing. Detailed filing data is available for this year.$11.2$7.84$3.33$1.62$0.43$1.19
2020Detailed filing. Detailed filing data is available for this year.$6.71$4.57$2.14$0.95$0.59$0.36
2019Detailed filing. Detailed filing data is available for this year.$5.84$4.06$1.78$0.62$0.18$0.43
2018Detailed filing. Detailed filing data is available for this year.$1.95$0.60$1.35$0.20$0.05$0.15
2017Detailed filing. Detailed filing data is available for this year.$1.80$0.60$1.20$0.24$0.06$0.18
2016Detailed filing. Detailed filing data is available for this year.$1.70$0.68$1.02$0.39$0.23$0.16
2015Detailed filing. Detailed filing data is available for this year.$1.77$0.92$0.85$0.67$0.25$0.41
2014Detailed filing. Detailed filing data is available for this year.$1.55$1.11$0.44$0.27$0.29$0.02
2013Detailed filing. Detailed filing data is available for this year.$1.59$1.12$0.47$0.19$0.18$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.58$1.12$0.46$0.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.57$1.12$0.44$0.56
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.84$1.48$0.36$0.71