Nonprofit · EIN 47-0597743
OMAHA ECONOMIC DEVELOPMENT CORP
Tax-exempt · OMAHA, NE 68110
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $12,625,428 | $5,827,229 | $6,798,199 | $26,521,656 | $8,356,744 | $18,164,912 |
| December 31, 2023 | 990 | $4,706,173 | $5,362,198 | -$656,025 | $20,894,179 | $9,537,306 | $11,356,873 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $5,958,259
- of which government grants
- $5,958,259
- Program service revenue
- $5,614,605
- Investment income
- $181,266
- Other revenue
- $871,298
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $693,164
- Salaries, compensation and benefits (total)
- $913,298
- Professional fundraising fees
- $0
- Legal fees
- $61,756
- Accounting fees
- $119,398
- Occupancy
- $265,727
- Travel
- $19,727
- Depreciation
- $840,198
- Program services (functional)
- $4,490,702
- Management and general (functional)
- $1,336,527
Balance sheet and other
- Total assets, start of year
- $20,894,179
- Total assets, end of year
- $26,521,656
- Total liabilities, end of year
- $8,356,744
- Net assets, end of year
- $18,164,912
- Land, buildings and equipment
- $10,692,299
- Publicly traded securities
- $1,278,680
- Net assets without donor restrictions
- $11,163,488
- Net assets with donor restrictions
- $7,001,424
- Gross receipts
- $12,625,428
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1977
- State of legal domicile
- NE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHAEL B MARONEY | PRESIDENT Key employee | 40 | $194,315 | $30,828 |
| MICHAEL H SCHULZ | VICE PRESIDENT/CONTROLLER Key employee | 40 | $158,084 | $30,791 |
| CORT BONNER | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ERNEST JWHITE | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JOHN PIERCE | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| BRENDA COUNCIL | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| PATRICIA TOOLES-DYER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALISA PARMER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL BEVERLY | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL B MARONEY | PRESIDENT Key employee | 40 | $187,898 |
| MICHAEL H SCHULZ | VICE PRESIDENT/CONTROLLER Key employee | 40 | $153,512 |
| CORT BONNER | CHAIR Trustee or director, Officer | 1 | $0 |
| ERNEST JWHITE | TREASURER Trustee or director, Officer | 1 | $0 |
| JOHN PIERCE | SECRETARY Trustee or director, Officer | 1 | $0 |
| BRENDA COUNCIL | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| PATRICIA TOOLES-DYER | DIRECTOR Trustee or director | 1 | $0 |
| ALISA PARMER | DIRECTOR Trustee or director | 1 | $0 |
| MICHAEL BEVERLY | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 2221 N 24TH ST STE 200, OMAHA, NE 68110-2200
- Principal officer (990 for 2024)
- MICHAEL MARONEY, 2221 N 24TH STREET 200, OMAHA, NE 68110
- Signed the 990
- MICHAEL MARONEY, PRESIDENT
- Phone
- (402) 346-2300
- Website
- WWW.OMAHAECONOMIC.COM
- Return prepared by
- HAYES & ASSOCIATES LLC
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 accomplishments
- PROPERTY MANAGEMENT OF AFFORDABLE HOUSING UNITS WHICH ARE RENTED TO LOW/MODERATE INCOME FAMILIES.Expenses $4,490,702 · revenue $6,667,169
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 47-0597743
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1979
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $26,521,656
- Income (IRS master file)
- $12,625,428
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $12,625,428 | $5,827,229 | $26,521,656 | IRS |
| 990 | December 2023 | $4,706,173 | $5,362,198 | $20,894,179 | XML |
| 990 | December 2022 | $5,224,740 | $4,339,892 | $19,560,233 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 47-0597743).
Questions about OMAHA ECONOMIC DEVELOPMENT CORP
- What is the EIN of OMAHA ECONOMIC DEVELOPMENT CORP?
- The employer identification number (EIN) of OMAHA ECONOMIC DEVELOPMENT CORP is 47-0597743.
- Is OMAHA ECONOMIC DEVELOPMENT CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1979.
- Are donations to OMAHA ECONOMIC DEVELOPMENT CORP tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does OMAHA ECONOMIC DEVELOPMENT CORP file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of OMAHA ECONOMIC DEVELOPMENT CORP due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did OMAHA ECONOMIC DEVELOPMENT CORP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of OMAHA ECONOMIC DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2024 names MICHAEL MARONEY.
- Who are the officers and directors of OMAHA ECONOMIC DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2024 lists 9 people; 2 received compensation from the organization, the highest $194,315 (MICHAEL B MARONEY, PRESIDENT).
- How much revenue does OMAHA ECONOMIC DEVELOPMENT CORP have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $12,625,428, expenses of $5,827,229 and total assets of $26,521,656 at year end.
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