OMAHA ECONOMIC DEVELOPMENT CORPORATION

EIN: 470597743 501(c)(3)

OMAHA, NE

Total Revenue
$4,706,173
Total Expenses
$5,362,198
Total Assets
$20,894,179
Net Assets
$11,356,873
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
NE
Principal Officer
MICHAEL MARONEY
Phone
4023462300
Tax Period
2023-01-01 to 2023-12-31

OMAHA ECONOMIC DEVELOPMENT CORPORATION, founded in 1977, is a community nonprofit that reported $4.7M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $5.4M exceeded revenue, resulting in a 14% operating deficit.

Mission

THE MISSION OF OEDC IS TO IMPLEMENT ECONOMIC DEVELOPMENT PROJECTS, HOUSING, AND COMMUNITY REVITALIZATION PROGRAMS THAT CREATE JOBS, BUSINESS OWNERSHIP OPPORTUNITIES AND OTHER ECONOMIC BENEFITS FOR AREA RESIDENTS.

Program Service Accomplishments

Program 1
Expenses: $4,232,304 Revenue: $3,172,993

PROPERTY MANAGEMENT OF AFFORDABLE HOUSING UNITS WHICH ARE RENTED TO LOW/MODERATE INCOME FAMILIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $891,320
Program Service Revenue $3,172,993
Investment Income $88,841
Other Revenue $553,019
TOTAL REVENUE $4,706,173

Expense Breakdown

Grants Paid $0
Salaries & Benefits $830,913
Fundraising Expenses $0
Program Expenses $4,232,304
Other Expenses $4,531,285
TOTAL EXPENSES $5,362,198

Year-over-Year Comparison

2023 2022 Change
Revenue $4,706,173 $5,224,740 -0.1%
Expenses $5,362,198 $4,339,892 +0.2%
Net Income $-656,025 $884,848 -1.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
6
Independent Members
6
Employees
10
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
7
$0
Key Employees
2
$341,410
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CORT BONNER CHAIR 1.00
Officer Director
$0 $0 $0
ERNEST JWHITE TREASURER 1.00
Officer Director
$0 $0 $0
JOHN PIERCE SECRETARY 1.00
Officer Director
$0 $0 $0
BRENDA COUNCIL VICE CHAIR 1.00
Officer Director
$0 $0 $0
PATRICIA TOOLES-DYER DIRECTOR 1.00
Director
$0 $0 $0
ALISA PARMER DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL BEVERLY DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL B MARONEY PRESIDENT 40.00
Key Emp
$187,898 $0 $187,898
MICHAEL H SCHULZ VICE PRESIDENT/CONTROLLER 40.00
Key Emp
$153,512 $0 $153,512
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $4,706,173 $5,362,198 $20,894,179 $-656,025
2022 $5,224,740 $4,339,892 $19,560,233 $884,848
2021 $6,962,293 $5,363,265 $18,549,776 $1,599,028
2020 $4,662,459 $4,581,953 $19,884,039 $80,506
2019 $3,763,744 $4,531,902 $20,305,868 $-768,158
2018 $4,460,538 $4,001,324 $20,233,056 $459,214
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