Economic Empowerment Center

Nonprofit profile at a glance

EIN
832198837
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Omaha, NE, USA
Phone
4025021069
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Financial Counseling

Official website

Reported finances

Revenue
$4,315,945
Expenses
$1,132,017
Assets
$8,974,734
Liabilities
$321,029

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • Daniel Padilla (Executive Director)

Highest reported compensation

  • Daniel Padilla (Executive Director): $149,319 total reported compensation
  • Rhonda Byers (Finance Director): $68,037 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission is to give people a path to financial stability and improved financial health by offering financial education and low-cost loans with favorable terms to residents and small businesses in Omaha, who otherwise would have difficulty accessing loans from traditional lenders.

What it reported doing in 2024

Give people a path to financial stability and improved financial health by offering low-cost loans with longer repayment terms to residents and small businesses in Omaha, who have difficulty in accessing loans from traditional lenders. This is accomplished by providing financial coaching and helping people transition away from payday and other predatory lenders with the ultimate goal being to help people achieve long-term financial health.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 88% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 92
  • Accountability: 91
  • Sustainability: 82
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 26.2%; rating input score 26
  • Program expense ratio: 91.1%; rating input score 91
  • Fundraising efficiency: $389.69 raised per $1 spent on fundraising; rating input score 95; 95th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 73.8%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 7.93; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 19.2%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: -26.2% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -9% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 30.7% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 26.2% of revenue deployed · 91.1% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $149K · 13 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 26/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 13/100.