Civic Intelligence

Northeast Economic Development Inc.

990 • Fiscal year 2022 • EIN 47-0841633

Jul 01, 2021 to Jun 30, 2022 • Filed on Oct 31, 2022

Organization ProfileWWW.NENEDD.ORG
111 S 1st StreetNorfolk, NE 68701

(402) 379-1150

Siviq Scores

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

Liabilities / Assets

47th percentile

0.10x

Higher debt load relative to assets than 47% of similar nonprofits.

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

Liabilities / Revenue

78th percentile

0.64x

Higher debt load relative to revenue than 78% of similar nonprofits.

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

Net Margin

92nd percentile

61%

Higher net margin than 92% 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

69th percentile

10%

Faster asset growth than 69% of similar nonprofits.

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

Revenue Growth

22nd percentile

-15%

Faster revenue growth than 22% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$9,868,632

Up $922,986 (+10%) from 2021

Net Assets

Up

$8,853,081

Up $974,736 (+12%) from 2021

Liabilities

Down

$1,015,551

Down $51,750 (-4.8%) from 2021

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin92nd percentile

Revenue

Down

$1,587,221

Down $279,402 (-15%) from 2021

Expenses

Down

$612,485

Down $383,592 (-39%) from 2021

Net Income

Up

$974,736

Up $104,190 (+12%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth69th percentile

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

$15M$10M$5.0M$0Assets 2011: $3,892,651Liabilities 2011: $863,088Net Assets 2011: $3,029,5632011Assets 2012: $5,403,047Liabilities 2012: $1,379,817Net Assets 2012: $4,023,2302012Assets 2013: $5,601,857Liabilities 2013: $1,630,772Net Assets 2013: $3,971,0852013Assets 2014: $5,921,205Liabilities 2014: $1,724,783Net Assets 2014: $4,196,4222014Assets 2015: $7,202,777Liabilities 2015: $1,713,666Net Assets 2015: $5,489,1112015Assets 2016: $7,689,304Liabilities 2016: $1,781,521Net Assets 2016: $5,907,7832016Assets 2017: $7,481,156Liabilities 2017: $1,515,650Net Assets 2017: $5,965,5062017Assets 2018: $6,921,099Liabilities 2018: $1,337,295Net Assets 2018: $5,583,8042018Assets 2019: $7,198,990Liabilities 2019: $1,238,479Net Assets 2019: $5,960,5112019Assets 2020: $8,158,211Liabilities 2020: $1,150,412Net Assets 2020: $7,007,7992020Assets 2021: $8,945,646Liabilities 2021: $1,067,301Net Assets 2021: $7,878,3452021Assets 2022: $9,868,632Liabilities 2022: $1,015,551Net Assets 2022: $8,853,0812022Assets 2023: $10,227,527Liabilities 2023: $949,714Net Assets 2023: $9,277,8132023Assets 2024: $10,390,305Liabilities 2024: $860,147Net Assets 2024: $9,530,1582024Assets 2025: $11,135,686Liabilities 2025: $1,053,244Net Assets 2025: $10,082,4422025

Highlighted filing

2022

Assets$9,868,632
Liabilities$1,015,551
Net Assets$8,853,081
Open 2022 Filing

Operations Trend

Revenue Growth22nd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,362,790Expenses 2011: $1,162,029Net Income 2011: $200,7612011Revenue 2012: $2,878,971Expenses 2012: $1,885,304Net Income 2012: $993,6672012Expenses 2013: $750,3022013Revenue 2014: $874,334Expenses 2014: $648,997Net Income 2014: $225,3372014Revenue 2015: $2,100,382Expenses 2015: $807,693Net Income 2015: $1,292,6892015Revenue 2016: $1,185,960Expenses 2016: $767,288Net Income 2016: $418,6722016Revenue 2017: $911,440Expenses 2017: $853,717Net Income 2017: $57,7232017Revenue 2018: $1,127,933Expenses 2018: $1,509,635Net Income 2018: -$381,7022018Revenue 2019: $972,885Expenses 2019: $596,178Net Income 2019: $376,7072019Revenue 2020: $2,155,430Expenses 2020: $1,108,142Net Income 2020: $1,047,2882020Revenue 2021: $1,866,623Expenses 2021: $996,077Net Income 2021: $870,5462021Revenue 2022: $1,587,221Expenses 2022: $612,485Net Income 2022: $974,7362022Revenue 2023: $775,884Expenses 2023: $351,152Net Income 2023: $424,7322023Revenue 2024: $1,088,618Expenses 2024: $836,273Net Income 2024: $252,3452024Revenue 2025: $1,015,034Expenses 2025: $462,750Net Income 2025: $552,2842025

Highlighted filing

2022

Revenue$1,587,221
Expenses$612,485
Net Income$974,736
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Oct 31, 2022
Return Version
2021v4.0
Gross Receipts
$1,587,221
Mission and Program Overview

Mission

Address community and economic development opportunities in northeast nebraska, and to seek funds, grants, contributions and any other type of funding to attain these goals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$8,990,497$5,375,670▼ $3,614,827
Savings and Temporary Cash Investments$3,201,309$4,362,265▲ $1,160,956
Pledges and Grants Receivable-$71,573-
Cash and Non-Interest-Bearing Accounts$1,524$59,124▲ $57,600
Total Assets$8,945,646$9,868,632▲ $922,986
Other Assets Total$-3,247,684--
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,029,589$966,118▼ $63,471
Accounts Payable and Accrued Expenses$37,712$49,433▲ $11,721
Total Liabilities$1,067,301$1,015,551▼ $51,750
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$8,843,390-
Net Assets Without Donor Restrictions$7,878,345$9,691▼ $7,868,654
Total Net Assets Fund Balance$7,878,345$8,853,081▲ $974,736
Total Liabilities and Net Assets / Fund Balance$8,945,646$9,868,632▲ $922,986

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$2,250$2,250
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Brad AlbersPresident
Jim MccarvilleDirector
Megan WeaverDirector
Rich JablonskiDirector
Tina M EngelbartDeputy Direc
Thomas Higginbotham JrExecutive Di
Jerry EngdahlSecretary/tr
Shannon StuchlikVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$890,920
Program Service Revenue
$222,006
Investment Income
$9,767
Other Revenue
$464,528
Change in Net Assets
$974,736

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,587,221
Total Revenue per Audited Statements
$1,587,221
Total Revenue per Form 990
$1,587,221
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$566,381
Grants and Similar Amounts Paid$46,104
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$100,194$134,050-$234,244
Grants to Domestic Individuals$46,104--$46,104
Interest-$13,075-$13,075
Fees for Services Accounting-$7,500-$7,500
Other Expenses$11,794$2,368-$2,368
Total Functional Expenses$455,492$156,993$0$612,485

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$612,485
Total Expenses per Audited Statements$612,485
Total Expenses per Form 990$612,485
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
No
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Northeast economic development, inc., (ned, inc.) has contracted with northeast nebraska economic development district (nenedd), to provide professional services and support for loan closings, grant applications, and managing projects and programs.”

Form 990, Page 6, Part VI, Line 11B

“The organization's executive director and fiscal officer review the form 990 prior to its submission to the irs.”

Form 990, Page 6, Part VI, Line 12C

“Currently, the board of directors and the executive director reviews the "conflict of interest policy" annually.”

Form 990, Page 6, Part VI, Line 19

“Currently, governing documents, conflict of interest policy, and financial statements are made available to the public on the organization's website.”

Filing and Contact Details

Filer

Filer Name
Northeast Economic Development Inc
EIN
47-0841633
Phone
4023791150
Address
111 S 1ST STREET, NORFOLK, NE 68701

Signing Officer

Name
Brad Albers
Title
President
Phone
4023791150
Signed
2022-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brad Albers
Formed
2000
Legal Domicile
Ne
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
7

Preparer

Firm
Herley & Reinke Accounting Pc
Address
508 W PROSPECT AVE, NORFOLK, NE 68701
Preparer
Brendee Reinke
Phone
4023792722
Raw XML Appendix363 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/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt010398
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt027078
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt039338
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt024368
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0110949
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt02720137
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.97780
IRS990ScheduleA/PublicSupportPY170Pct00.97510
IRS990ScheduleA/PublicSupportTotal170Amt04879006
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0890920
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0880126
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01784320
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0539254
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0784386
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04879006
IRS990ScheduleA/TotalSupportAmt04989955
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02250
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02250
IRS990ScheduleD/ExpensesSubtotalAmt0612485
IRS990ScheduleD/RevenueSubtotalAmt01587221
IRS990ScheduleD/TotalExpensesPerForm990Amt0612485
IRS990ScheduleD/TotalRevenuePerForm990Amt01587221
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01587221
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0612485
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt046104
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0AMORT. OF LOANS FORGIVEN
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt016
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NORTHEAST ECONOMIC DEVELOPMENT, INC., (NED, INC.) HAS CONTRACTED WITH NORTHEAST NEBRASKA ECONOMIC DEVELOPMENT DISTRICT (NENEDD), TO PROVIDE PROFESSIONAL SERVICES AND SUPPORT FOR LOAN CLOSINGS, GRANT APPLICATIONS, AND MANAGING PROJECTS AND PROGRAMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S EXECUTIVE DIRECTOR AND FISCAL OFFICER REVIEW THE FORM 990 PRIOR TO ITS SUBMISSION TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CURRENTLY, THE BOARD OF DIRECTORS AND THE EXECUTIVE DIRECTOR REVIEWS THE "CONFLICT OF INTEREST POLICY" ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CURRENTLY, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08945646
IRS990/TotalAssetsEOYAmt09868632
IRS990/TotalAssetsGrp/BOYAmt08945646
IRS990/TotalAssetsGrp/EOYAmt09868632
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0890920
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0156993
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0455492
IRS990/TotalFunctionalExpensesGrp/TotalAmt0612485
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01067301
IRS990/TotalLiabilitiesEOYAmt01015551
IRS990/TotalLiabilitiesGrp/BOYAmt01067301
IRS990/TotalLiabilitiesGrp/EOYAmt01015551
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07878345
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08853081
IRS990/TotalProgramServiceExpensesAmt0455492
IRS990/TotalProgramServiceRevenueAmt0222006
IRS990/TotalRevenueGrp/ExclusionAmt09767
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0686534
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01587221
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08945646
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09868632
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.NENEDD.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRAD ALBERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04023791150
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-10-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NORTHEAST ECONOMIC DEVELOPMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0NORT
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ReturnHeader/Filer/PhoneNum04023791150
ReturnHeader/Filer/USAddress/AddressLine1Txt0111 S 1ST STREET
ReturnHeader/Filer/USAddress/CityNm0NORFOLK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NE
ReturnHeader/Filer/USAddress/ZIPCd068701
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0372017297
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HERLEY & REINKE ACCOUNTING PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0508 W PROSPECT AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORFOLK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd068701
ReturnHeader/PreparerPersonGrp/PhoneNum04023792722
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENDEE REINKE
ReturnHeader/ReturnTs02022-11-08T10:26:35-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BRAD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ALBERS
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,868,632
Liabilities
$1,015,551
Net assets
$8,853,081
Revenue
$1,587,221
Expenses
$612,485
Net income
$974,736
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$11.1$1.05$10.1$1.02$0.46$0.55
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.4$0.86$9.53$1.09$0.84$0.25
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.2$0.95$9.28$0.78$0.35$0.42
2022Detailed filing. Detailed filing data is available for this year.$9.87$1.02$8.85$1.59$0.61$0.97
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.95$1.07$7.88$1.87$1.00$0.87
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.16$1.15$7.01$2.16$1.11$1.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.20$1.24$5.96$0.97$0.60$0.38
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.92$1.34$5.58$1.13$1.51$0.38
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.48$1.52$5.97$0.91$0.85$0.06
2016Detailed filing. Detailed filing data is available for this year.$7.69$1.78$5.91$1.19$0.77$0.42
2015Detailed filing. Detailed filing data is available for this year.$7.20$1.71$5.49$2.10$0.81$1.29
2014Detailed filing. Detailed filing data is available for this year.$5.92$1.72$4.20$0.87$0.65$0.23
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.60$1.63$3.97$0.75
2012Summary only. Only limited summary data is available for this year.$5.40$1.38$4.02$2.88$1.89$0.99
2011Summary only. Only limited summary data is available for this year.$3.89$0.86$3.03$1.36$1.16$0.20