Civic Intelligence

Omaha Development Foundation

990 • Fiscal year 2019 • EIN 47-0629134

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

Organization ProfileN/A
808 Conagra Dr Ste 400Omaha, NE 68102

(402) 346-5000

Siviq Scores

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

Liabilities / Assets

15th percentile

0.00x

Higher debt load relative to assets than 15% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

15th percentile

0.00x

Higher debt load relative to revenue than 15% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

7th percentile

-39%

Higher net margin than 7% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

15th percentile

-7.3%

Faster asset growth than 15% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

98th percentile

414%

Faster revenue growth than 98% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets15th percentile

Assets

Down

$1,052,427

Down $82,653 (-7.3%) from 2018

Net Assets

Down

$1,052,404

Down $77,099 (-6.8%) from 2018

Liabilities

Down

$23

Down $5,554 (-100%) from 2018

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin7th percentile

Revenue

Up

$197,028

Up $158,722 (+414%) from 2018

Expenses

Down

$274,127

Down $766,737 (-74%) from 2018

Net Income

Up

-$77,099

Up $925,459 (+92%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $2,311,749Liabilities 2010: $52,832Net Assets 2010: $2,258,9172010Assets 2011: $2,200,273Liabilities 2011: $2,600Net Assets 2011: $2,197,6732011Assets 2012: $2,200,025Liabilities 2012: $3,012Net Assets 2012: $2,197,0132012Assets 2013: $2,631,411Liabilities 2013: $7,566Net Assets 2013: $2,623,8452013Assets 2014: $2,126,647Liabilities 2014: $7Net Assets 2014: $2,126,6402014Assets 2015: $2,189,613Liabilities 2015: $30Net Assets 2015: $2,189,5832015Assets 2016: $2,231,797Liabilities 2016: $3,500Net Assets 2016: $2,228,2972016Assets 2017: $2,134,121Liabilities 2017: $2,060Net Assets 2017: $2,132,0612017Assets 2018: $1,135,080Liabilities 2018: $5,577Net Assets 2018: $1,129,5032018Assets 2019: $1,052,427Liabilities 2019: $23Net Assets 2019: $1,052,4042019Assets 2020: $2,022,671Liabilities 2020: $312Net Assets 2020: $2,022,3592020Assets 2021: $2,972,337Liabilities 2021: $0Net Assets 2021: $2,972,3372021Assets 2022: $3,352,168Liabilities 2022: $50,702Net Assets 2022: $3,301,4662022Assets 2023: $3,149,051Liabilities 2023: $7,886Net Assets 2023: $3,141,1652023Assets 2024: $3,386,849Liabilities 2024: $0Net Assets 2024: $3,386,8492024

Highlighted filing

2019

Assets$1,052,427
Liabilities$23
Net Assets$1,052,404
Open 2019 Filing

Operations Trend

Revenue Growth98th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2010: $90,062Expenses 2010: $283,879Net Income 2010: -$193,8172010Revenue 2011: $51,296Expenses 2011: $112,540Net Income 2011: -$61,2442011Revenue 2012: $19,911Expenses 2012: $20,571Net Income 2012: -$6602012Revenue 2013: $528,183Expenses 2013: $101,351Net Income 2013: $426,8322013Revenue 2014: $32,598Expenses 2014: $529,803Net Income 2014: -$497,2052014Revenue 2015: $145,134Expenses 2015: $82,191Net Income 2015: $62,9432015Revenue 2016: $159,596Expenses 2016: $120,882Net Income 2016: $38,7142016Revenue 2017: $78,685Expenses 2017: $174,921Net Income 2017: -$96,2362017Revenue 2018: $38,306Expenses 2018: $1,040,864Net Income 2018: -$1,002,5582018Revenue 2019: $197,028Expenses 2019: $274,127Net Income 2019: -$77,0992019Revenue 2020: $1,277,435Expenses 2020: $307,480Net Income 2020: $969,9552020Revenue 2021: $1,272,721Expenses 2021: $322,743Net Income 2021: $949,9782021Revenue 2022: $754,695Expenses 2022: $425,566Net Income 2022: $329,1292022Revenue 2023: $551,850Expenses 2023: $712,151Net Income 2023: -$160,3012023Revenue 2024: $666,454Expenses 2024: $420,770Net Income 2024: $245,6842024

Highlighted filing

2019

Revenue$197,028
Expenses$274,127
Net Income-$77,099
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$197,028
Mission and Program Overview

Mission

Redevelopment of the omaha metropolitan area

Redevlopment of the omaha metropolitan area

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$808,682$808,682→ $0
Savings and Temporary Cash Investments$326,398$243,745▼ $82,653
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$1,135,080$1,052,427▼ $82,653
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$5,577$23▼ $5,554
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$5,577$23▼ $5,554
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,113,170$1,052,404▼ $60,766
Net Assets With Donor Restrictions$16,333$0▼ $16,333
Total Net Assets Fund Balance$1,129,503$1,052,404▼ $77,099
Total Liabilities and Net Assets / Fund Balance$1,135,080$1,052,427▼ $82,653

Asset Categories

AssetBook ValueDepreciationBasis
Land$808,682-$808,682
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Bruce LauritzenChairman
Bruce GrewcockDirector
Dana BradfordDirector
David BrownDirector
Derek LeathersDirector
George LittleDirector
James BlackledgeDirector
Jerry CrouseDirector
John BoyerDirector
Lance FritzDirector
Nate DodgeDirector
Robert ReedDirector
Steven SelineDirector
Tim BurkeDirector
Dee BairdSecretary
Mike MccarthyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$175,000
Program Service Revenue
$0
Investment Income
$1,714
Other Revenue
$20,314
All Other Contributions
$175,000
Change in Net Assets
$-77,099
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$235,000
Other Expenses$39,127
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$235,000--$235,000
Fees for Services Accounting$11,300--$11,300
Fees for Services Legal$4,154--$4,154
Other Expenses$2,500--$2,500
Total Functional Expenses$274,127$0$0$274,127
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Greater Omaha Chamber FoundationOmaha, NE501(c)(3)Kitchen Council and Military Programming$160,000
Advance Southwest Iowa CorporationCouncil Bluffs, IA501(c)(6)-$75,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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 A, Line 2

“MIKE MCCARTHY AND BRUCE GREWCOCK - Business Relationship Mike McCarthy and Lance Fritz - Business Relationship”

Form 990, Part VI, SECTION A, Line 8B

“NO COMMITTEES EXIST.”

Form 990, Part VI, SECTION B, Line 12A

“Each board member is asked to sign an annual statement affirming that they understand the policy and agree to it. They are also asked to disclose potential conflicts.”

Form 990, Part VI, SECTION C, Line 19

“The information is available upon request from the chief financial officer.”

Filing and Contact Details

Filer

Filer Name
Omaha Development Foundation
EIN
47-0629134
In Care Of
% AUDRA SCHAWANG
Phone
4023465000
Address
808 CONAGRA DR STE 400, OMAHA, NE 68102

Signing Officer

Name
Audra Schawang
Title
CFO
Phone
4029787944
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Randy J Thelen
Formed
1980
Legal Domicile
Ne
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
25

Preparer

Firm
Kpmg Llp
Address
1212 North 96th Street Suite 300, Omaha, NE 68114
Preparer
Donald Neal Jr
Phone
4023481450
Supplemental Narrative

Financial Statement Notes

Form 990, Schedule D, Part X, Line 2

“The Foundation has been recognized by the Internal Revenue Service as a tax-exempt entity and, accordingly, is exempt from federal income taxes in accordance with Section 501(c)(3) of the Internal Revenue Code. The Foundation applies the provisions of Accounting Standards Codification (ASC) Subtopic 740-10, Income Taxes - Overall, which provides specific guidance on how to address uncertainty in accounting for income tax assets and liabilities, prescribing recognition thresholds and measurement attributes. As of December 31, 2019 and 2018, the Foundation had no uncertain tax positions.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15SECRETARY
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IRS990/PrincipalOfficerNm0RANDY J THELEN
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0The Omaha development foundation was formed to combat community deterioration in the Omaha, Nebraska metropolitan area by identifying and studying community development needs, conducting or financing research with respect to those needs, furnishing the information obtained to the local government involved, assisting them with planning, formulating and implementing community development programs and activities including but not limited to the acquisition, construction, reconstruction, rehabilitation, installation, furnishing or expansion of public works, facilities and services of all kinds, aiding local governments in applying for and receiving grants as well as securing private investments when suitable, making contributions to and helping get matching funds for local governments, and thus lessening the burdens of government. For the past couple of years, one of the projects the Omaha Development Foundation has been working on is acquiring a piece of land that is adjacent to Offutt Air Force Base. The Omaha Development Foundation already owns a similar property. The reason this is so important is because it provides an opportunity for future growth and expansion of the base. Offutt Air Force Base is one of Nebraska's largest employers, with 8,000 military and civilian personnel. Nearly 32,000 military, civilians, contractors, dependents and retirees make their home in the area. The base generates almost 4,400 secondary jobs regionally and is a vital part of the economy with an annual economic impact of nearly $2.7 billion. Keeping the base, providing opportunities for growth, and the potential for new missions is always a priority for community leaders. The Omaha Development Foundation is working with the government and local community organizations to make this happen. As with many of the projects the Omaha Development Foundation has been involved in, the process often takes a lot of time in order to ensure that a due diligence process has been followed and all parties in agreement of the plan. Another project that the Omaha Development Foundation was involved with was bringing Toast, Inc. to Omaha. This company was attractive to Omaha leaders for several reasons. Toast, Inc. is a tech company who was growing quickly and gaining momentum. The company was interested in locating in downtown Omaha and expected to employ a few hundred people within the first few years. Normally in a situation like this, the Nebraska Department of Economic Development would offer incentives to bring this type of project to the state. Unfortunately, they did not have funds available to offer Toast, Inc. at the time. Projects like this take a long time to land do not come along every day. Omaha did not want to miss out on this opportunity. This was a case where the Omaha Development Foundation was able to lessen the burdens of government and also bring in a company to downtown Omaha, an area that is always vulnerable. Specific criteria had to be met such as locating in downtown Omaha, meeting certain employment and wage thresholds, on-the-job training, and building improvements.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc010% FACTS AND CIRCUMSTANCES SUPPORT TEST:
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,052,427
Liabilities
$23
Net assets
$1,052,404
Revenue
$197,028
Expenses
$274,127
Net income
-$77,099
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.39$0.00$3.39$0.67$0.42$0.25
2023Detailed filing. Detailed filing data is available for this year.$3.15$0.01$3.14$0.55$0.71$0.16
2022Detailed filing. Detailed filing data is available for this year.$3.35$0.05$3.30$0.75$0.43$0.33
2021Detailed filing. Detailed filing data is available for this year.$2.97$0.00$2.97$1.27$0.32$0.95
2020Detailed filing. Detailed filing data is available for this year.$2.02$0.00$2.02$1.28$0.31$0.97
2019Detailed filing. Detailed filing data is available for this year.$1.05$0.00$1.05$0.20$0.27$0.08
2018Summary only. Only limited summary data is available for this year.$1.14$0.01$1.13$0.04$1.04$1.00
2017Summary only. Only limited summary data is available for this year.$2.13$0.00$2.13$0.08$0.17$0.10
2016Summary only. Only limited summary data is available for this year.$2.23$0.00$2.23$0.16$0.12$0.04
2015Summary only. Only limited summary data is available for this year.$2.19$0.00$2.19$0.15$0.08$0.06
2014Summary only. Only limited summary data is available for this year.$2.13$0.00$2.13$0.03$0.53$0.50
2013Summary only. Only limited summary data is available for this year.$2.63$0.01$2.62$0.53$0.10$0.43
2012Summary only. Only limited summary data is available for this year.$2.20$0.00$2.20$0.02$0.02$0.00
2011Summary only. Only limited summary data is available for this year.$2.20$0.00$2.20$0.05$0.11$0.06
2010Summary only. Only limited summary data is available for this year.$2.31$0.05$2.26$0.09$0.28$0.19