NAC DEVELOPMENT CORPORATION

EIN: 476039543 501(c)(3)

OMAHA, NE

Total Revenue
$789,323
Total Expenses
$722,880
Total Assets
$1,600,066
Net Assets
$1,559,190
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1974
Legal Domicile
NE
Principal Officer
MIKE MARKEY
Phone
4025952195
Tax Period
2023-07-01 to 2024-06-30

NAC DEVELOPMENT CORPORATION, founded in 1974, is a small nonprofit that reported $789K in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $723K left a modest 8% surplus.

Mission

TO STIMULATE AND ENCOURAGE THE STUDY AND PRESENTATION OF FINE AND PERFORMING ARTS THROUGHOUT THE STATE.

Program Service Accomplishments

Program 1
Expenses: $379,999 Revenue: $0

CULTURAL PRESERVATION ENDOWMENT - CPEF FUNDS ARE USED IN ONE OF THE FOLLOWING THREE CATEGORIES STABILIZATION OF NEBRASKA'S ARTS ORGANIZATIONS - STABILIZATION CAN TAKE MANY FORMS, FROM UTILIZING A...

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CULTURAL PRESERVATION ENDOWMENT - CPEF FUNDS ARE USED IN ONE OF THE FOLLOWING THREE CATEGORIES STABILIZATION OF NEBRASKA'S ARTS ORGANIZATIONS - STABILIZATION CAN TAKE MANY FORMS, FROM UTILIZING A GRANT PROGRAM DESIGNED TO STIMULATE ENDOWMENT BUILDING, OR AS A SUPPLEMENT TO ANNUAL GENERAL OPERATIONAL SUPPORT GRANTS ARTS EDUCATION PROGRAMS THAT PROVIDE STATEWIDE IMPACT - PROJECTS MUST DEMONSTRATE A SUSTAINED EFFORT THAT HAS BROAD APPLICATION MOST RECENTLY, THE NEBRASKA ARTS COUNCIL UNDERTOOK A COMPREHENSIVE STUDY THAT WILL INVOLVE A TASK FORCE AND AN OUTSIDE CONSULTANT TO REDESIGN PRAIRIE VISIONS, A SUMMER INSTITUTE FOR NEBRASKA TEACHERS THAT PROVIDES TOOLS TO IMPLEMENT COMPREHENSIVE ARTS EDUCATION INTO THE ENTIRE CURRICULUM SPECTRUM ARTS ADVOCACY PROMOTES THE ARTS IN NEBRASKA - THE ARTS ARE IMPORTANT TO THE STATE'S ECONOMY, QUALITY OF LIFE, AND EDUCATION OF ITS CITIZENS THE SCOPE OF THE ARTS ADVOCACY PROJECT CAN INCLUDE THE RESEARCH, DEVELOPMENT, AND PRODUCTION OF INFORMATIONAL MATERIALS AND SUPPLIES INFORMATIONAL PIECES THAT PROVIDE DATA REGARDING THE POSITIVE IMPACT OF ARTS EDUCATION CAN BE DISTRIBUTED AT EVENTS AND COMMUNITY MEETINGS THROUGHOUT THE STATE

Program 2
Expenses: $15,000 Revenue: $0

NEBRASKA CULTURAL ENDOWMENT PRIVATE FUND - NEBRASKA CULTURAL ENDOWMENT DISBURSEMENTS SUPPORT OBJECTIVES OF THE NEBRASKA ARTS COUNCIL'S MISSION AND GOALS AS OUTLINED IN THE NEBRASKA ARTS COUNCIL'S...

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NEBRASKA CULTURAL ENDOWMENT PRIVATE FUND - NEBRASKA CULTURAL ENDOWMENT DISBURSEMENTS SUPPORT OBJECTIVES OF THE NEBRASKA ARTS COUNCIL'S MISSION AND GOALS AS OUTLINED IN THE NEBRASKA ARTS COUNCIL'S STRATEGIC PLAN AND AN ANNUAL RECOMMENDATION FOR THE JOHN W CARSON DONOR-ADVISED FUND

Program 3
Expenses: $253,558 Revenue: $0

SPECIAL INITIATIVES - THESE PROJECTS AND SERVICES ARE DESIGNED TO INCREASE AWARENESS OF, AND PARTICIPATION IN, ARTS AND CULTURE THIS PROGRAM SUPPORTS FEES PAID TO CONSULTANTS WHO WORK WITH TARGETED...

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SPECIAL INITIATIVES - THESE PROJECTS AND SERVICES ARE DESIGNED TO INCREASE AWARENESS OF, AND PARTICIPATION IN, ARTS AND CULTURE THIS PROGRAM SUPPORTS FEES PAID TO CONSULTANTS WHO WORK WITH TARGETED ARTS ORGANIZATIONS AND ARTISTS AS WELL AS OTHER AREAS OF ORGANIZATIONAL AND PROFESSIONAL DEVELOPMENT SERVICES INCLUDED TRAINING FOR ARTISTS AND ORGANIZATIONS IN THE FOLLOWING AREAS TRENDS IN PERFORMING, TOURING, ARTS EDUCATION, MARKETING, STRATEGIC PLANNING, CONTRACTS AND LEGAL MANERS THE INITIATIVE SUPPORTS AND PROMOTES ARTISTS FOR REGIONAL PROJECTS AND ADMINISTERS THE ARTIST FELLOWSHIP PROGRAM

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $702,096
Program Service Revenue $0
Investment Income $61,331
Other Revenue $25,896
TOTAL REVENUE $789,323

Expense Breakdown

Grants Paid $556,393
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $667,361
Other Expenses $166,487
TOTAL EXPENSES $722,880

Year-over-Year Comparison

2023 2022 Change
Revenue $789,323 $689,375 +0.1%
Expenses $722,880 $1,039,628 -0.3%
Net Income $66,443 $-350,253 -1.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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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
7
Independent Members
7
Employees
N/A
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
6
$93,939
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SARAH PEETZ PRESIDENT 1.00
Officer Director
$0 $0 $0
MARK LAUGHLIN VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
JANA GORANSON SECRETARY 1.00
Officer Director
$0 $0 $0
ZACHARY CHEEK TREASURER 1.00
Officer Director
$0 $0 $0
JON GROSS AT LARGE 1.00
Director
$0 $0 $0
WALTER SEILER AT LARGE 1.00
Director
$0 $0 $0
SHARI HOFSCHIRE EX OFFICIO - CHAIR OF NE A 1.00
Officer Director
$0 $0 $0
MIKE MARKEY EX OFFICIO 5.00
Officer
$93,939 $0 $93,939
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
2025 No data No data No data No data
2024 $789,323 $722,880 $1,600,066 $66,443
2023 $689,375 $1,039,628 $1,498,147 $-350,253
2022 $976,250 $953,510 $1,869,769 $22,740
2021 $979,250 $772,257 $1,861,422 $206,993
2020 $800,798 $565,736 $1,647,821 $235,062
2019 $563,762 $704,289 $1,418,825 $-140,527
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