Metropolitan Entertainment & Convention Authority in Omaha, Nebraska (NE)

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Metropolitan Entertainment & Convention Authority
Employer Identification Number (EIN)911846837
Name of OrganizationMetropolitan Entertainment & Convention Authority
In Care of NameRoger A Dixon President/Ce
Address455 N 10th St, Omaha, NE 68102-1151
ActivitiesDescribed in section 170(b)1)(a)(vi) of the Code, Area development, redevelopment of renewal
SubsectionCharitable Organization
Ruling Date12/1997
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2013
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$54,110,574
Amount of Income$42,926,249
Form 990 Revenue Amount$42,926,249
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Economic Development


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Amount of income in 2013: $42,926,249
Metropolitan Entertainment & Convention Authority: 

 $42,926,249
Other organizations performing similar types of work: 

 $135,279

Assets in 2013: $54,110,574
Metropolitan Entertainment & Convention Authority: 

 $54,110,574
Other organizations performing similar types of work: 

 $114,906

Expenses in 2013: $40,970,547
Metropolitan Entertainment & Convention Authority: 

 $40,970,547
Other organizations performing similar types of work: 

 $121,073

Income to expenses ratio in 2013: 1.0
Metropolitan Entertainment & Convention Authority: 

 1.0
Other organizations performing similar types of work: 

 1.4

Expenses allocated to program services in 2007: 81.3%
Metropolitan Entertainment & Convention Authority: 

 81.3%
Other organizations performing similar types of work: 

 62.9%

Number of employees in 2013: 758
This organization: 

 758
Other organizations performing similar types of work: 

 1

Employees paid over $100,000 in 2013: 2.8%
Metropolitan Entertainment & Convention Authority: 

 2.8%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 12.6%
This organization: 

 12.6%
Other organizations performing similar types of work: 

 8.8%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoNo
Is the organization required to complete Schedule B, Schedule of Contributors?NoNo
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?YesYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?NoNo
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?YesYes
Did the organization receive more than $25,000 in non-cash contributions?NoNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 10962424
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return754758
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNo
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYes
Did the organization notify the donor of the value of the goods or services provided?YesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$953,744$909,513
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$136,185$142,020
Total number of individuals who received more than $100,000 of reportable compensation from the organization56
Total number of independent contractors who received more than $100,000 of compensation from the organization1715
Statement of Revenue
201120122013
Total revenue$40,266,959$42,811,850$42,926,249
Contributions, Gifts, Grants and Other Similar Amounts$5,805,522$5,474,203$5,406,079
Program Service Revenue$34,366,824$37,199,078$36,903,164
0$2,655,958$2,952,885
0$7,709,280$7,900,389
0$1,060,682$1,116,267
0$15,818,968$15,819,073
0$9,155,748$8,463,418
All other program service revenue$798,442$651,132
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$89,415$91,439$115,488
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$0$0$0
Net income/loss from fundraising events$0$0$0
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$5,198$47,130$501,518
0$47,130$501,518
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$39,835,331$41,609,556$40,970,547
Grants and other assistance to domestic organizations and domestic governments$13,333$160,213
Grants and other assistance to domestic individuals$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$446,456$456,832$466,924
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$6,209,754$6,714,408$6,253,662
Pension plan accruals and contributions$123,373$122,199
Other employee benefits$911,573$655,545
Payroll taxes$563,725$569,212$520,724
Fees for services (non-employees)
Management$0$0
Legal$125,214$146,370
Accounting$31,750$31,950
Lobbying$36,000$39,500
Professional fundraising services$0$0$0
Investment management fees$2,625$0
Other$176,352$101,246
Advertising and promotion$494,531$555,603
Office expenses$239,756$223,818
Information technology$158,992$145,769
Royalties$0$0
Occupancy$0$0
Travel$43,166$43,261
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$18,070$19,310
Interest$160,663$200,352
Payments to affiliates$0$0
Depreciation, depletion, and amortization$1,832,096$2,052,738
Insurance$343,881$290,845
Other expenses$9,586,565$9,445,376
Other expenses$3,726,577$3,434,123
Other expenses$3,157,117$3,519,644
Other expenses$2,659,275$2,511,025
Other expenses$10,028,195$10,030,350
Balance Sheet
201120122013
Total assets$58,146,054$59,914,362$54,110,574
Cash - non-interest-bearing$473,073$850,654
Savings and temporary cash investments$14,770,072$8,128,140
Pledges and grants receivable, net$0$0
Accounts receivable, net$3,902,382$3,434,492
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$2,290,863$2,707,835
Land, buildings, and equipment: cost or other basis$17,301,895$17,433,100
Investments - publicly traded securities$0$0
Investments - other securities$21,167,800$21,548,076
Investments - program-related$0$0
Intangible assets$0$0
Other assets$8,277$8,277
Total liabilities$28,196,388$28,770,991$21,011,501
Accounts payable and accrued expenses$16,225,698$10,503,805
Grants payable$0$0
Deferred revenue$3,346,241$2,717,908
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$3,808,078$2,805,837
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$5,390,974$4,983,951
Total net assets or fund balances$29,949,666$31,143,371$33,099,073
Unrestricted net assets$0$0
Temporarily restricted net assets$0$0
Permanently restricted net assets$0$0
Capital stock or trust principal, or current funds$-2,029,151$-5,821,079
Paid-in or capital surplus, or land, building, or equipment fund$13,493,817$16,667,698
Retained earnings, endowment, accumulated income, or other funds$21,344,652$19,678,705$22,252,454
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$184,762,598
Subtotal$184,762,598
Gifts, grants, contributions, and membership fees received$19,747,594
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$165,015,004
Gross receipts from activities that are not an unrelated trade or business under section 513$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$185,679,070
Public support$184,762,598
Subtotal$916,472
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$916,472
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
200220032004200520062007
Total revenue$2,583,025$23,444,000$24,332,156$27,712,283$29,747,309$32,664,527
Contributions, gifts, grants, and similar amounts received$2,568,223$3,741,032$3,348,013$3,629,239$4,062,289$3,402,891
Contributions to donor advised funds$0$0
Direct public support$901,556$1,074,365$1,848,013$2,129,239$2,562,289$1,587,891
Indirect public support$0$0$0$0$0$0
Government contributions (grants)$1,666,667$2,666,667$1,500,000$1,500,000$1,500,000$1,815,000
Program service revenue including government fees and contracts$0$19,418,410$20,754,599$23,467,353$24,863,872$28,277,128
Membership dues and assessments$0$0$0$0$0$0
Interest on savings and temporary cash investments$15,708$60,361$229,544$615,691$821,148$984,508
Dividends and interest from securities$0$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-906$0$0$0$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$0
Less: cost or other basis and sales expenses$906$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0
Other revenue$0$224,197$0$0$0$0
Total expenses$2,465,865$20,025,872$20,532,090$22,635,388$25,011,972$27,177,309
Program services$1,868,933$15,975,893$16,233,147$18,358,628$20,307,204$22,097,332
Management and general$493,171$3,836,498$3,965,021$3,972,510$4,380,371$4,745,715
Fundraising$103,761$213,481$333,922$304,250$324,397$334,262
Payments to affiliates$0$0$0$0$0$0
Net assets or fund balances at end of year$974,240$4,392,368$8,192,434$13,257,056$17,968,381$23,421,712
Excess or (deficit) for the year$117,160$3,418,128$3,800,066$5,076,895$4,735,337$5,487,218
Net assets or fund balances at beginning of year$857,080$974,240$4,392,368$8,192,434$13,257,056$17,968,381
Other changes in net assets or fund balances$0$0$0$-12,273$-24,012$-33,886
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$27,177,309$22,097,332$4,745,715$334,262
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$262,824$0$262,824$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$7,234,408$4,807,399$2,192,949$234,060
Pension plan contributions not included above$88,864$47,291$37,532$4,041
Employee benefits not included above$576,790$306,950$243,611$26,229
Payroll taxes$438,111$241,488$178,840$17,783
Professional fundraising fees$0$0$0$0
Accounting fees$48,825$0$48,825$0
Legal fees$242,496$0$242,496$0
Supplies$482,783$423,494$59,289$0
Telephone$88,360$0$88,360$0
Postage and shipping$22,177$0$19,090$3,087
Occupancy$2,821,023$2,821,023$0$0
Equipment rental and maintenance$531,677$402,798$128,187$692
Printing and publications$31,089$0$30,379$710
Travel$44,186$0$40,470$3,716
Conferences, conventions, and meetings$11,417$0$10,491$926
Interest$149,054$149,054$0$0
Depreciation, depletion, etc.$1,788,599$1,788,599$0$0
Other expenses not covered above$12,314,626$11,109,236$1,162,372$43,018
Balance Sheets
200220032004200520062007
Total assets$6,852,455$24,851,243$27,048,678$29,984,904$38,226,313$44,302,098
Cash - non-interest-bearing$105,391$602,336$534,528$685,073$442,440$473,947
Savings and temporary cash investments$3,890,402$7,387,128$5,021,580$2,511,387$6,387,997$9,872,140
Accounts receivable less allowance for doubtful accounts$1,063,329$314,651$298,092$407,310$160,363$553,177
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0
Prepaid expenses and deferred charges$53,199$219,498$241,927$323,403$1,776,874$1,693,524
Investments - publicly-traded securities$0$0
Investments - other securities$0$2,500,000$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$1,739,959$13,824,630$12,932,618$0$0$0
Investments - other$0$0$8,016,933$12,037,047$11,064,755$14,476,883
Land, buildings, and equipment less accumulated depreciation$0$0$0$14,017,684$18,390,884$17,229,427
Other assets, including program-related investments$175$3,000$3,000$3,000$3,000$3,000
Total liabilities$5,878,215$20,458,875$18,856,244$16,727,848$20,257,932$20,880,385
Accounts payable and accrued expenses$270,450$1,176,132$1,428,006$1,871,719$3,044,965$2,855,337
Grants payable$0$0$0$0$0$0
Deferred revenue$2,093,746$1,773,593$2,021,488$2,876,658$2,912,001$2,181,644
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0
Mortgages and other notes payable$0$0$10,578,851$10,108,859$8,962,921$7,816,983
Other liabilities$3,514,019$17,509,150$4,827,899$1,870,612$5,338,045$8,026,421
Total liabilities and net assets/fund balances$6,852,455$24,851,243$27,048,678$29,984,904$38,226,313$44,302,098
Total net assets or fund balances$974,240$4,392,368$8,192,434$13,257,056$17,968,381$23,421,713
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200220032004200520062007
Total revenue$2,583,025$23,444,000$24,332,156$27,712,283$29,747,309$32,664,527
Total revenue, gains, and other support per audited financial statements$2,583,025$23,444,000$24,332,156$27,712,283$29,747,309$32,664,527
Other expenses$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0
Other$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200220032004200520062007
Total expenses$2,465,865$20,025,872$20,532,090$22,635,388$25,011,972$27,177,309
Total expenses and losses per audited financial statements$2,465,865$20,025,872$20,532,090$22,647,661$25,035,984$27,211,195
Other revenue$0$0$0$12,273$24,012$33,886
Donated services and use of facilities$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0
Losses$0$0$0$0$0$0
Other$0$0$0$12,273$24,012$33,886
Other expenses$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
45$226,154$21,307$15,363
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings5
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006453
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$984,508$28,277,128
Program service revenue
Program service revenue 1000000$000$0$3,652,724
Program service revenue 2000000$000$0$4,121,421
Program service revenue 3000000$000$0$935,701
Program service revenue 4000000$000$0$11,376,381
Program service revenue 5000000$000$0$8,190,901
000000$000$0$3,652,724
000000$000$0$4,121,421
000000$000$0$935,701
000000$000$0$11,376,381
000000$000$0$7,714,077
000000$000$0$476,824
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$984,508$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$137,139$13,773$0
$113,720$13,711$0
$95,665$13,797$0
$95,975$5,815$0
$85,703$9,158$0
Total number of other employees paid over $50,00012
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$33,886
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
200120022003200420052006
Total$829,816$3,415,662$23,872,523$24,596,610$28,458,235$30,039,075
Gifts, grants, and contributions received$817,345$2,568,223$3,741,032$3,348,013$3,629,239$4,062,289
Membership fees received$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$5,567$831,731$19,846,935$21,019,053$24,213,305$25,155,638
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$6,904$15,708$60,361$229,544$615,691$821,148
Net income from unrelated business activities not included above$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0
Other income$0$0$224,197$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$27,211,195
Total lobbying expenditures$33,886
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$33,886
Other exempt purpose expenditures$27,177,309
Lobbying nontaxable amount$1,000,000
Grassroots nontaxable amount$250,000
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$0$0$0
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$0
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$0
Unrelated business taxable income$0
Unrelated business taxable income before net operating loss deduction$0
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$0
Specific deduction$1,000
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Metropolitan Entertainment & Convention Authority455 N 10th St, Omaha, NE 68102-1151NE1997-12$42,926,249
2Columbus Downtown Development Corporation150 S Front St Ste 210, Columbus, OH 43215-7105OH2002-10$37,620,584
3Structured Employment Economic Development Corporation22 Cortlandt Street 33rd Floor, New York, NY 10007-3107NY1977-01$21,151,237
4Delaware River Waterfront Corporation121 N Columbus Blvd, Philadelphia, PA 19106-1403PA2009-10$11,762,015
5Lubbock Economic Development Alliance Inc1500 Broadway 6th Floor, Lubbock, TX 79401-3117TX2005-01$8,625,518
6Market Lubbock Economic Development Corporation1500 Broadway Ste 600, Lubbock, TX 79401-3100TX1999-04$6,821,251
7Trufund Financial Services Inc1440 Broadway Rm 23, New York, NY 10018-2326NY2005-12$6,686,524
8Wake Forest Innovation Quarter CdcMedical Center Blvd, Winston Salem, NC 27157-0001NC2005-02$5,772,439
9Phelps County Development Corporation502 East Avenue Suite 201 Suite 201, Holdrege, NE 68949-2217NE1999-03$577,803
10Medicine Valley Economic Development IncPo Box 437, Curtis, NE 69025NE2013-11$79,676
11Development Corporation Of North Platte502 S Dewey St, North Platte, NE 69101-5517NE1974-10$620,138
12Gateway Development Corporation1301 Harney St, Omaha, NE 68102-1832NE1991-11$186,580
13Keith County Area Development IncPO BOX 418, Ogallala, NE 69153-0418NE2002-05$170,711
14Nebraska City Area Economic Development Corporation123 S 8th St Ste 7, Nebraska City, NE 68410-2463NE2001-02$146,907
15Cass County Nebraska Economic Development Council918 Washington Ave, Plattsmouth, NE 68048-1146NE2003-12$102,826
16Nebraska Northwest Development Corporation706 W 3rd St, Chadron, NE 69337-2297NE1992-05$87,043
17Greater Lincoln Chamber Foundation1135 M Street Ste 200, Lincoln, NE 68508-2196NE1998-04$79,557
18Butler County Development Board Inc457 D Street, David City, NE 68632NE2000-12$56,000
19Collateral Guarantee Fund Inc1313 Cuming Street, Omaha, NE 68102-4422NE2005-02$50,100
20Bassett Development CorporationPO BOX 548, Bassett, NE 68714-0548NE2006-09$10,516
Number of organizations performing similar types of work
Alaska23
Alabama64
Arkansas29
Arizona41
California299
Colorado47
Connecticut39
District of Columbia35
Delaware8
Florida134
Georgia71
Hawaii27
Iowa63
Idaho15
Illinois108
Indiana79
Kansas46
Kentucky50
Louisiana73
Massachusetts46
Maryland54
Maine37
Michigan101
Minnesota55
Missouri99
Mississippi38
Montana36
North Carolina125
North Dakota13
Nebraska37
New Hampshire25
New Jersey61
New Mexico41
Nevada16
New York213
Ohio149
Oklahoma39
Oregon51
Pennsylvania173
Rhode Island6
South Carolina63
South Dakota34
Tennessee56
Texas168
Utah17
Virginia62
Vermont16
Washington47
Wisconsin61
West Virginia39
Wyoming14
International10
Total3,253

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