Is Central Nebraska Economic Development Inc Legit?
Quick charity verification for Central Nebraska Economic Development Inc (EIN: 202470844)
Verdict: Central Nebraska Economic Development Inc shows mixed signals
65/100Mission Score
$0Revenue
$0Assets
3Red Flags
3Strengths
Red Flags
Sudden drop to $0 revenue and expenses in the latest filing (202306) while holding significant assets ($1,691,011).
Consistent 0% officer compensation across all filings, which is unusual for an organization with substantial assets and fluctuating operational budgets.
Lack of detailed program spending information in the provided summary, making it difficult to assess true program efficiency.
Strengths
Consistent filing of IRS 990s, indicating a commitment to regulatory transparency.
Maintained a substantial asset base, reaching over $1.6 million, which could provide stability for future operations.
Zero reported officer compensation suggests a lean administrative structure, potentially maximizing funds for mission-related activities if programs are active.
Spending Breakdown
How Central Nebraska Economic Development Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Central Nebraska Economic Development Inc
Is Central Nebraska Economic Development Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Central Nebraska Economic Development Inc (EIN: 202470844) shows mixed signals. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
Is Central Nebraska Economic Development Inc a good charity to donate to?
Central Nebraska Economic Development Inc has a Mission Score of 65/100. Revenue: $0. Assets: $0. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Central Nebraska Economic Development Inc?
The Employer Identification Number (EIN) for Central Nebraska Economic Development Inc is 202470844. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Central Nebraska Economic Development Inc spend its money?
Central Nebraska Economic Development Inc allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Central Nebraska Economic Development Inc's tax-exempt status?
You can verify Central Nebraska Economic Development Inc's tax-exempt status using EIN 202470844 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Central Nebraska Economic Development Inc (CNED) exhibits a mixed financial picture based on its IRS 990 filings. While the organization has consistently reported assets, reaching over $1.6 million in recent years, its revenue and expense figures show significant fluctuations. For instance, revenue dropped from $919,791 in 2021 to $411,900 in 2022, and then to $0 in 2023, with corresponding zero expenses. This suggests a period of dormancy or a significant change in operational reporting, which warrants further investigation for a complete understanding of its current financial health. The consistent reporting of zero officer compensation across all available filings indicates a volunteer-led or very lean executive structure, which can be a positive for spending efficiency, assuming program delivery is not compromised.
The organization's financial transparency appears to be good in terms of filing its 990s consistently. However, the sudden drop to zero revenue and expenses in the latest filing (202306) while maintaining substantial assets raises questions about its ongoing activities and financial strategy. Without detailed program spending breakdowns, it's challenging to fully assess spending efficiency, but the absence of officer compensation suggests a focus on minimizing administrative overhead. The significant asset base, particularly in light of recent zero revenue, implies the organization may be holding substantial reserves or has shifted its operational model.