Overview
What is Omaha Economic Development Corporation?
The Omaha Economic Development Corporation, situated in Omaha, Nebraska, serves as a nonprofit organization with a mission to stimulate economic growth and development. They achieve this by executing projects, promoting housing, and facilitating community revitalization initiatives. The primary focus of their activities is to generate employment opportunities, foster business ownership, and overall, enhance economic benefits for the local community. One of their key roles involves managing affordable housing units, which are primarily rented to families with moderate to low income levels.
Official website here: www.omahaeconomic.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Stars)
The Omaha Economic Development Corporation has received a Three-Star rating from Charity Navigator, indicating a solid level of performance in terms of accountability and finance. The organization's strong points include a fully independent board, excellent financial statement audits, and no material diversion of assets. Their program expense ratio is also commendable, showing that a significant portion of their funds is directed towards their programs.
However, some areas for improvement have been identified. The organization is missing critical policies such as a whistleblower policy and document retention and destruction policy, which may affect transparency and accountability practices. Additionally, the tax form is not posted on the nonprofit's website, which could limit accessibility for stakeholders seeking financial information.
In summary, while the Omaha Economic Development Corporation demonstrates strong financial practices and governance, addressing its policy deficiencies could enhance its overall accountability and transparency, fostering greater trust among donors and the community.
This AI summary has been generated from information found on Charity Navigator.
Is Omaha Economic Development Corporation legitimate?
Omaha Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Omaha Economic Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Other Salaries and Wages: $634,448
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Official website here: www.omahaeconomic.com
What is the mission statement of Omaha Economic Development Corporation?
The Omaha Economic Development Corporation's mission is centered around implementing economic development projects, housing initiatives, and community revitalization programs. The primary objective is to create job opportunities, foster business ownership, and provide various economic benefits for the local community's residents. Their activities extend to managing affordable housing units, which are rented out to families with moderate to low incomes.
Official website here: www.omahaeconomic.com
Who is the CEO of Omaha Economic Development Corporation?
Michael Maroney is the Chair of Omaha Economic Development Corporation.
Official website here: www.omahaeconomic.com
What is the revenue of Omaha Economic Development Corporation?
Omaha Economic Development Corporation's revenue in 2022 was $5,224,740.
Official website here: www.omahaeconomic.com
Who are the executives of Omaha Economic Development Corporation and what are their salaries?
Here are 9 key members and their salaries:
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Official website here: www.omahaeconomic.com
Where can I find the form 990 for Omaha Economic Development Corporation?
Omaha Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.omahaeconomic.com
Learn more at the official website: www.omahaeconomic.com
Mission Statement of Omaha Economic Development Corporation
The Omaha Economic Development Corporation (OEDC) is an organization dedicated to implementing economic development projects, housing, and community revitalization programs. Its mission is geared towards creating job opportunities, fostering business ownership, and providing various economic benefits for the local community's residents. By implementing these initiatives, OEDC aims to improve the overall economic well-being of the area's low and moderate-income families. One of the ways OEDC achieves this is through the property management of affordable housing units, which are rented out to these families in need.
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Impact
July, 2024
Omaha Economic Development Corporation's impact can be seen in the revitalization and improvement of the Omaha community through economic development projects and affordable housing initiatives. By managing affordable housing units and renting them to low and moderate-income families, OEDC is directly contributing to the well-being of residents. Additionally, their focus on creating job opportunities and promoting business ownership in the area further enhances economic benefits for the community. Overall, OEDC plays a crucial role in promoting community improvement and fostering economic growth in Omaha.
This information is meant to be a general summary of Omaha Economic Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $9,008
- Program Service Revenue: $2,770,864
- Gross Receipts: $5,224,740
Assets and Liabilities:
- Total Assets: $19,560,233
- Total Liabilities: $7,428,514
- Net Assets: $12,131,719
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,770,864
Organization Details
Founding Year
1977
Phone
(402) 346-2300Principal Officer
Michael Maroney
Main Address
2221 N 24TH STREET 200, OMAHA, NE, 68110
Website
www.omahaeconomic.comNTEE Category
Code: S30 - Community improvement
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