Nac Development Corporation

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 476039543 ✦ Omaha, NE ✦ Designated as a 501(c)(3)

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Overview

What is Nac Development Corporation?

Nac Development Corporation, located in Omaha, Nebraska, is a nonprofit organization dedicated to preserving and promoting the arts in the state. They accomplish this through various means, including funding stabilization for Nebraska's arts organizations, supporting arts education programs with broad statewide impact, and advocating for the importance of the arts in Nebraska's economy, quality of life, and education. Their advocacy efforts may involve producing informational materials and supplies, sharing data on the positive impact of arts education, and participating in community meetings. The organization's mission is to stimulate and encourage the study and presentation of fine and performing arts throughout the state.


Official website here: www.nebraskaartscouncil.org

What are the reviews and ratings of this charity?

Charity Navigator Rating: 96%, Four-Star out of Four Star rating.

Nac Development Corporation has received a commendable score of 96%, earning a Four-Star rating based on its Accountability and Finance practices. This high rating reflects the organization’s strong governance and financial health, with key metrics indicating effective management of resources. The charity boasts a fully independent board, which enhances accountability and transparency.

The organization has demonstrated excellence in financial oversight, with a low liabilities-to-assets ratio of 0.36%, indicating strong financial stability. Additionally, the program expense ratio is notably high at 94.52%, showcasing a significant commitment to directing funds towards its programs rather than administrative costs. The presence of various policies, such as conflict of interest and whistleblower policies, further indicates a robust ethical framework.

Overall, Nac Development Corporation stands out for its governance and operational efficiency, with no reported material diversion of assets. Such attributes contribute to its strong reputation within the nonprofit sector, making it a reliable choice for potential donors looking to support an organization committed to accountability and effective resource use.


This AI summary has been generated from information found on Charity Navigator.

Is Nac Development Corporation legitimate?

Nac Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nac 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:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here


Official website here: www.nebraskaartscouncil.org

What is the mission statement of Nac Development Corporation?

The Nac Development Corporation's mission is centered around stimulating and encouraging the study and presentation of fine and performing arts across the state. They achieve this by utilizing various methods, such as grant programs to stimulate endowment building and annual operational support grants. The corporation also supports arts education programs that have a statewide impact, ensuring a sustained effort with broad application. Recently, they undertook a comprehensive study to redesign Prairie Visions, a summer institute for Nebraska teachers, aiming to implement comprehensive arts education into the entire curriculum spectrum. Furthermore, the corporation promotes the arts in Nebraska, recognizing their importance to the state's economy, quality of life, and education of its citizens. This promotion can involve the research, development, and production of informational materials highlighting the positive impact of arts education, which are then distributed at events and community meetings throughout the state.


Official website here: www.nebraskaartscouncil.org

Who is the CEO of Nac Development Corporation?

Mike Markey is the President of Nac Development Corporation.


Official website here: www.nebraskaartscouncil.org

What is the revenue of Nac Development Corporation?

Nac Development Corporation's revenue in 2023 was $689,375.


Official website here: www.nebraskaartscouncil.org

Who are the executives of Nac Development Corporation and what are their salaries?


Here are 7 key members and their salaries:


Alec Gorynski (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mark Laughlin (Vice President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Walter Seiler (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Shari Hofschire (Ex Officio - Chair Of Ne Arts)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jana Goranson (At Large)
  • Compensation: $0
  • Related: $0
  • Other: $0
Sarah Peetz (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mike Markey (Executive Director)
  • Compensation: $0
  • Related: $80,733
  • Other: $0


Official website here: www.nebraskaartscouncil.org

Where can I find the form 990 for Nac Development Corporation?

Nac Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.


Official website here: www.nebraskaartscouncil.org

Learn more at the official website: www.nebraskaartscouncil.org

Mission Statement of Nac Development Corporation

Nac Development Corporation, a dedicated nonprofit organization, aims to stimulate and encourage the study and presentation of fine and performing arts throughout the state. Their mission is centered around preserving the cultural heritage of the arts, recognizing its significant role in the state's economy, quality of life, and education. To achieve this, Nac Development Corporation undertakes various initiatives.

Firstly, the organization plays a crucial role in stabilizing Nebraska's arts organizations. This can be done through grants designed to stimulate endowment building or as a supplement to annual operational support grants. By doing so, Nac Development Corporation helps secure the future of these arts organizations, ensuring that they can continue to enrich the community with their offerings.

Secondly, the corporation supports arts education programs that have a statewide impact. These projects must demonstrate a sustained effort with broad application. For instance, the Nebraska Arts Council recently undertook a comprehensive study to redesign Prairie Visions, a summer institute for Nebraska teachers. The goal is to provide them with tools to implement comprehensive arts education into the entire curriculum spectrum, thereby fostering a deep appreciation for the arts among the youth.

Lastly, Nac Development Corporation promotes arts advocacy. They believe that the arts are crucial to Nebraska's economy, quality of life, and education of its citizens. The scope of their arts advocacy project includes research, development, and production of informational materials and supplies. These materials can be distributed at events and community meetings throughout the state, highlighting the positive impact of arts education.

In essence, Nac Development Corporation works tirelessly to preserve and promote the fine and performing arts within Nebraska, recognizing their value to the state's overall wellbeing.

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Impact




July, 2024

Nac Development Corporation's impact lies in stimulating and encouraging the study and presentation of fine and performing arts throughout the state of Nebraska. Through its Cultural Preservation Endowment Fund (CPEF), Nac Development Corporation supports arts organizations by offering stabilization grants that help build endowments and provide operational support. Additionally, the corporation invests in arts education programs that have a statewide impact, ensuring that the arts are integrated into the curriculum across various institutions. Furthermore, Nac Development Corporation advocates for the arts in Nebraska, highlighting their importance to the state's economy, quality of life, and education system. By producing informational materials and promoting the positive impact of arts education, Nac Development Corporation contributes significantly to fostering a thriving arts community in Nebraska.




This information is meant to be a general summary of Nac 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.

Revenue
$689,375 (2023)
Expenses
$1,039,628 (2023)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2023.

  • Investment Income: $15,384
  • Gross Receipts: $689,375

Assets and Liabilities:

  • Total Assets: $1,498,147
  • Total Liabilities: $5,400
  • Net Assets: $1,492,747

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Organization Details

Founding Year

1974

Principal Officer

Mike Markey

Main Address

1004 FARNAM STREET PLAZA LEVEL, OMAHA, NE, 68102

NTEE Category

Code: A20 - Arts

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