Civic Intelligence

Nebraska Art Association

EIN 47-6026671 • 501(c)3 • Lincoln, NE

Profile

To advance and promote art and art appreciation by promoting art exhibits, acquiring works of art and promoting art education to the public.

Sheldon Museum Of Art 12 And R StLincoln, NE 68501

www.sheldonartgallery.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

14th percentile

0.00x

Higher debt load relative to assets than 14% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

20th percentile

0.02x

Higher debt load relative to revenue than 20% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

79th percentile

28%

Higher net margin than 79% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

73rd percentile

14%

Faster asset growth than 73% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

7th percentile

-39%

Faster revenue growth than 7% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets14th percentile

Assets

Up

$5,117,977

Up $619,230 (+14%) from 2023

Liabilities

Up

$12,268

Up $8,306 (+210%) from 2023

Net Assets

Up

$5,105,709

Up $610,924 (+14%) from 2023

Operations
Liabilities / Revenue20th percentileNet Margin79th percentile

Revenue

Down

$506,423

Down $317,283 (-39%) from 2023

Expenses

Up

$366,976

Up $21,648 (+6.3%) from 2023

Net Income

Down

$139,447

Down $338,931 (-71%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth73rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2010: $1,305,476Liabilities 2010: $18,460Net Assets 2010: $1,287,0162010Assets 2011: $1,291,655Liabilities 2011: $61,558Net Assets 2011: $1,230,0972011Assets 2012: $1,120,155Liabilities 2012: $35,630Net Assets 2012: $1,084,5252012Assets 2013: $1,301,949Liabilities 2013: $75,064Net Assets 2013: $1,226,8852013Assets 2014: $1,272,263Liabilities 2014: $29,055Net Assets 2014: $1,243,2082014Assets 2015: $1,391,613Liabilities 2015: $20,014Net Assets 2015: $1,371,5992015Assets 2016: $1,464,884Liabilities 2016: $40,851Net Assets 2016: $1,424,0332016Assets 2017: $1,716,112Liabilities 2017: $61,251Net Assets 2017: $1,654,8612017Assets 2018: $2,203,206Liabilities 2018: $107,214Net Assets 2018: $2,095,9922018Assets 2019: $2,820,567Liabilities 2019: $10,375Net Assets 2019: $2,810,1922019Assets 2020: $2,943,937Liabilities 2020: $64,561Net Assets 2020: $2,879,3762020Assets 2021: $3,442,538Liabilities 2021: $6,317Net Assets 2021: $3,436,2212021Assets 2022: $3,718,592Liabilities 2022: $7,097Net Assets 2022: $3,711,4952022Assets 2023: $4,498,747Liabilities 2023: $3,962Net Assets 2023: $4,494,7852023Assets 2024: $5,117,977Liabilities 2024: $12,268Net Assets 2024: $5,105,7092024

Highlighted filing

2024

Assets$5,117,977
Liabilities$12,268
Net Assets$5,105,709
Open 2024 Filing

Operations Trend

Revenue Growth7th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2010: $364,5112010Expenses 2011: $548,7742011Expenses 2012: $560,2872012Expenses 2013: $415,9192013Revenue 2014: $414,228Expenses 2014: $465,136Net Income 2014: -$50,9082014Revenue 2015: $560,704Expenses 2015: $343,487Net Income 2015: $217,2172015Revenue 2016: $457,470Expenses 2016: $367,073Net Income 2016: $90,3972016Revenue 2017: $599,659Expenses 2017: $431,154Net Income 2017: $168,5052017Revenue 2018: $1,076,218Expenses 2018: $623,456Net Income 2018: $452,7622018Revenue 2019: $1,144,372Expenses 2019: $430,161Net Income 2019: $714,2112019Revenue 2020: $406,320Expenses 2020: $358,376Net Income 2020: $47,9442020Revenue 2021: $535,421Expenses 2021: $292,734Net Income 2021: $242,6872021Revenue 2022: $1,254,336Expenses 2022: $414,604Net Income 2022: $839,7322022Revenue 2023: $823,706Expenses 2023: $345,328Net Income 2023: $478,3782023Revenue 2024: $506,423Expenses 2024: $366,976Net Income 2024: $139,4472024

Highlighted filing

2024

Revenue$506,423
Expenses$366,976
Net Income$139,447
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$5,117,977
Liabilities
$12,268
Net assets
$5,105,709
Revenue
$506,423
Expenses
$366,976
Net income
$139,447
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.12$0.01$5.11$0.51$0.37$0.14
2023Detailed filing. Detailed filing data is available for this year.$4.50$0.00$4.49$0.82$0.35$0.48
2022Detailed filing. Detailed filing data is available for this year.$3.72$0.01$3.71$1.25$0.41$0.84
2021Detailed filing. Detailed filing data is available for this year.$3.44$0.01$3.44$0.54$0.29$0.24
2020Detailed filing. Detailed filing data is available for this year.$2.94$0.06$2.88$0.41$0.36$0.05
2019Detailed filing. Detailed filing data is available for this year.$2.82$0.01$2.81$1.14$0.43$0.71
2018Detailed filing. Detailed filing data is available for this year.$2.20$0.11$2.10$1.08$0.62$0.45
2017Detailed filing. Detailed filing data is available for this year.$1.72$0.06$1.65$0.60$0.43$0.17
2016Detailed filing. Detailed filing data is available for this year.$1.46$0.04$1.42$0.46$0.37$0.09
2015Detailed filing. Detailed filing data is available for this year.$1.39$0.02$1.37$0.56$0.34$0.22
2014Detailed filing. Detailed filing data is available for this year.$1.27$0.03$1.24$0.41$0.47$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.30$0.08$1.23$0.42
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.12$0.04$1.08$0.56
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.29$0.06$1.23$0.55
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.31$0.02$1.29$0.36
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$1,041,162
Mission and Program Overview

Mission

Through stewardship of our collection and financial resources, the sheldon art association supports the sheldon museum of arts mission to inspire inquiry and discovery, serving the university of nebraska, the state, and beyond.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,340,847$4,868,963▲ $528,116
Savings and Temporary Cash Investments$155,067$247,790▲ $92,723
Land, Buildings, and Equipment, Net$2,833$1,224▼ $1,609
Total Assets$4,498,747$5,117,977▲ $619,230
Liabilities
Accounts Payable and Accrued Expenses$3,962$12,268▲ $8,306
Total Liabilities$3,962$12,268▲ $8,306
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,273,156$3,628,914▲ $355,758
Net Assets With Donor Restrictions$1,221,629$1,476,795▲ $255,166
Total Net Assets Fund Balance$4,494,785$5,105,709▲ $610,924
Total Liabilities and Net Assets / Fund Balance$4,498,747$5,117,977▲ $619,230

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,224$50,792$52,016
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Cindy MorrisPresident
Geoffrey ClinePresident
Annie CrimminsTrustee
Bart DillashawTrustee
Brennen MillerTrustee
Clay SmithTrustee
David ClarkTrustee
Jennifer CintaniTrustee
Julie JacobsonTrustee
Kara BrostromTrustee
Nelle JamisonTrustee
Sarah Biggs-wudelTrustee
Tamara BarberTrustee
Terry WittlerTrustee
Jon GrossPast Preside
Jason BombeckTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$404,041
Program Service Revenue
$0
Investment Income
$99,092
Other Revenue
$3,290
All Other Contributions
$321,005
Change in Net Assets
$139,447

Audited Revenue Reconciliation

Revenue per Audited Statements
$506,423
Revenue Not Reported on Form 990
$472,085
Total Revenue per Audited Statements
$978,508
Total Revenue per Form 990
$506,423
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$366,976
Total Fundraising Expense$153,722
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$45,797-$45,797
All Other Expenses$16,115$9,156-$25,271
Fees for Services Other$16,743--$16,743
Other Expenses$26,356$7,592$38,862$7,592
Travel$1,814$4,703-$6,517
Office Expenses$3,322--$3,322
Insurance-$2,527-$2,527
Depreciation Depletion-$1,609-$1,609
Total Functional Expenses$81,003$132,251$153,722$366,976

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$367,584
Expenses per Audited Statements$366,976
Total Expenses per Form 990$366,976
Expenses Not Reported on Form 990$608
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
Audit committee
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
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 6

“The association offers memberships to individuals and corporations. The membership fees help to support the activities of the association.”

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

“The form 990 is reviewed by the association's treasurer and presented to the board before filing.”

Form 990, Page 6, Part VI, Line 19

“The governing documents, conflict of interest policy, and the financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Nebraska Art Association
EIN
47-6026671
Phone
4024722461
Address
SHELDON MUSEUM OF ART 12 AND R ST, LINCOLN, NE 68501
Doing Business As
Sheldon Art Association

Signing Officer

Name
Jason Bombeck
Title
Treasurer
Phone
4024722540
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Bombeck
Formed
1888
Legal Domicile
Ne
Voting Board Members
16
Independent Board Members
16
Employees
0

Preparer

Firm
Dana F Cole & Company Llp
Address
1248 O ST STE 500, LINCOLN, NE 68508-1424
Preparer
Kerry Gustafsson
Phone
4024799300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Through stewardship of our collection and financial resources, the sheldon art association supports the sheldon museum of arts mission to inspire inquiry and discovery, serving the university of nebraska, the state, and beyond.”

Form 990, Page 2, Part III, Line 4D

“Other programs include education, exibitions, museum store, membership. Special events, and statewide education.”

Form 990, Part XI, Line 9

“Inventory cogs 608 inventory cogs -608”

Form 990, Page 12, Part XII, Line 2C

“The audit process is overseen by the board of directors. This process has not changed from prior years.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The association utilizes the provisions of fasb asc 740-10, "accounting for uncertain tax positions." the organization continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. The association believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax position that would be material to the financial statements.”

Schedule D, Page 4, Part XI, Line 2D

“INVENTORY COGS 608”

Schedule D, Page 4, Part XII, Line 2D

“INVENTORY COGS 608”

Raw XML AppendixShowing 400 of 473 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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IRS990/MissionDesc0THROUGH STEWARDSHIP OF OUR COLLECTION AND FINANCIAL RESOURCES, THE SHELDON ART ASSOCIATION SUPPORTS THE SHELDON MUSEUM OF ARTS MISSION TO INSPIRE INQUIRY AND DISCOVERY, SERVING THE UNIVERSITY OF NEBRASKA, THE STATE, AND BEYOND.
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IRS990/ProgSrvcAccomActy2Grp/Desc0CONSERVATION. SUPPORT IN THE CONSERVATION OF SHEDON'S COLLECTION OF ART.
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IRS990/ProgSrvcAccomActy3Grp/Desc0EDUCATION PROGRAMS. ENGAGEMENT AND OUTREACH PROGRAMS CREATE OPPORTUNITIES TO ADVANCE CREATIVE, CRITICAL THINKING. THROUGH PUBLIC PROGRAMS, K-12 AND HIGHER EDUCATION COLLABORATION, AND PARTNERSHIPS FOR TEACHING AND RESEARCH, THE MUSEUM SUPPORTS EDUCATIONAL ENRICHMENT AND COMMUNITY ENGAGEMENT. SINCE 1964, SHELDON HAS PROVIDED CURRICULUM-BASED TOURS FOR ALL FIFTH-GRADE STUDENTS IN LINCOLN PUBLIC SCHOOLS.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0OTHER PROGRAMS INCLUDE EDUCATION, EXIBITIONS, MUSEUM STORE, MEMBERSHIP. SPECIAL EVENTS, AND STATEWIDE EDUCATION.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION UTILIZES THE PROVISIONS OF FASB ASC 740-10, "ACCOUNTING FOR UNCERTAIN TAX POSITIONS." THE ORGANIZATION CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. THE ASSOCIATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITION THAT WOULD BE MATERIAL TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INVENTORY COGS 608
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2INVENTORY COGS 608
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THROUGH STEWARDSHIP OF OUR COLLECTION AND FINANCIAL RESOURCES, THE SHELDON ART ASSOCIATION SUPPORTS THE SHELDON MUSEUM OF ARTS MISSION TO INSPIRE INQUIRY AND DISCOVERY, SERVING THE UNIVERSITY OF NEBRASKA, THE STATE, AND BEYOND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OTHER PROGRAMS INCLUDE EDUCATION, EXIBITIONS, MUSEUM STORE, MEMBERSHIP. SPECIAL EVENTS, AND STATEWIDE EDUCATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ASSOCIATION OFFERS MEMBERSHIPS TO INDIVIDUALS AND CORPORATIONS. THE MEMBERSHIP FEES HELP TO SUPPORT THE ACTIVITIES OF THE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS REVIEWED BY THE ASSOCIATION'S TREASURER AND PRESENTED TO THE BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5INVENTORY COGS 608 INVENTORY COGS -608
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE AUDIT PROCESS IS OVERSEEN BY THE BOARD OF DIRECTORS. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 12, PART XII, LINE 2C
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