Civic Intelligence

Greater Norfolk Economic Development Foundation Inc.

990 • Fiscal year 2023 • EIN 36-3441719

Jan 01, 2023 to Dec 31, 2023 • Filed on May 21, 2024

Organization ProfileN/A
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

90th percentile

0.80x

Higher debt load relative to assets than 90% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

5.86x

Higher debt load relative to revenue than 95% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

25th percentile

-7.1%

Higher net margin than 25% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

26th percentile

-1.8%

Faster asset growth than 26% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

87th percentile

59%

Faster revenue growth than 87% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$9,312,439

Down $173,295 (-1.8%) from 2022

Net Assets

Down

$1,851,095

Down $90,111 (-4.6%) from 2022

Liabilities

Down

$7,461,344

Down $83,184 (-1.1%) from 2022

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin25th percentile

Revenue

Up

$1,274,311

Up $473,586 (+59%) from 2022

Expenses

Down

$1,364,423

Down $820,702 (-38%) from 2022

Net Income

Up

-$90,112

Up $1,294,288 (+93%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

2023

Assets$9,312,439
Liabilities$7,461,344
Net Assets$1,851,095
Open 2023 Filing

Operations Trend

Revenue Growth87th percentile

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

2023

Revenue$1,274,311
Expenses$1,364,423
Net Income-$90,112
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 21, 2024
Return Version
2023v5.0
Gross Receipts
$1,274,311
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$6,079,046$6,208,215▲ $129,169
Land, Buildings, and Equipment, Net$2,900,289$2,838,962▼ $61,327
Cash and Non-Interest-Bearing Accounts$521,775$274,740▼ $247,035
Accounts Receivable$-15,376$-9,478▲ $5,898
Total Assets$9,485,734$9,312,439▼ $173,295
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,536,916$7,450,851▼ $86,065
Accounts Payable and Accrued Expenses$7,612$10,493▲ $2,881
Total Liabilities$7,544,528$7,461,344▼ $83,184
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,941,206$1,851,095▼ $90,111
Total Net Assets Fund Balance$1,941,206$1,851,095▼ $90,111
Total Liabilities and Net Assets / Fund Balance$9,485,734$9,312,439▼ $173,295

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,184,764$268,305$2,453,069
Land$654,198-$654,198
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Russ WilcoxPast President
Stephen SundermanPresident
Arnold RobinsonVice-President
Andy ColvinDirector
Dan SprayDirector
Doug JohnsonDirector
Josh MoenningDirector
Ron SchmidtDirector
Tim TigheDirector
Jim Bradford JrSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,017,151
Program Service Revenue
$253,859
Investment Income
$3,301
Other Revenue
$0
All Other Contributions
$1,017,151
Change in Net Assets
$-90,112
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,112,250
Other Expenses$252,173
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,110,000--$1,110,000
Occupancy$88,146--$88,146
Interest$83,086--$83,086
Depreciation Depletion$61,327--$61,327
Fees for Services Accounting-$13,005-$13,005
Fees for Services Management$6,000--$6,000
Grants to Domestic Individuals$2,250--$2,250
Office Expenses-$431-$431
Fees for Services Other-$150-$150
Other Expenses-$28-$28
Total Functional Expenses$1,350,809$13,614$0$1,364,423
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of NorfolkNorfolk, NE-Provide support to community for downtown construction and growth$1,110,000
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
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
2024-05-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Sunderman
Formed
1986
Legal Domicile
Ne
Voting Board Members
10
Independent Board Members
10
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 1.”

Raw XML AppendixShowing 400 of 452 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/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt03301
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt03371
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0375
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt07047
IRS990ScheduleA/InvestmentIncomeCYPct00.00130
IRS990ScheduleA/InvestmentIncomePYPct00.00090
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99870
IRS990ScheduleA/PublicSupportPY509Pct00.99910
IRS990ScheduleA/PublicSupportTotal509Amt05255022
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01271010
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0797354
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01617128
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0952985
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0616545
IRS990ScheduleA/Total509Grp/TotalAmt05255022
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01274311
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0800725
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01617503
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0952985
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0616545
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05262069
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/BookValueAmt02184764
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0268305
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02453069
IRS990ScheduleD/LandGrp/BookValueAmt0654198
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0654198
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02838962
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt01110000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Provide support to community for downtown construction and growth
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0City of Norfolk
IRS990ScheduleI/RecipientTable/RecipientEIN0476006293
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0309 N 5th St
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Norfolk
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NE
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd068701
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/TotalOtherOrgCnt01
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 1.
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
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt09485734
IRS990/TotalAssetsEOYAmt09312439
IRS990/TotalAssetsGrp/BOYAmt09485734
IRS990/TotalAssetsGrp/EOYAmt09312439
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01017151
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt013614
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01350809
IRS990/TotalFunctionalExpensesGrp/TotalAmt01364423
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07544528
IRS990/TotalLiabilitiesEOYAmt07461344
IRS990/TotalLiabilitiesGrp/BOYAmt07544528
IRS990/TotalLiabilitiesGrp/EOYAmt07461344
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01941206
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01851095
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01350809
IRS990/TotalProgramServiceRevenueAmt0253859
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt03301
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0253859

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$9,312,439
Liabilities
$7,461,344
Net assets
$1,851,095
Revenue
$1,274,311
Expenses
$1,364,423
Net income
-$90,112
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