Heritage Services
Nonprofit profile at a glance
- EIN
- 470731254
- IRS 990 coverage
- 2018–2024
- Forms available
- Form 990 2024
- Location
- Omaha, NE, USA
- Phone
- 4023913190
- Rating
- 67
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Fund Raising and/or Fund Distribution
Reported finances
- Revenue
- $1,705,344
- Expenses
- $1,620,114
- Assets
- $7,157,696
- Liabilities
- $538,727
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- RACHEL JACOBSON (PRESIDENT)
- SHANNON GILROY (VICE PRESIDENT OF DEVELOPMENT)
Highest reported compensation
- RACHEL JACOBSON (PRESIDENT): $375,585 total reported compensation
- SHANNON GILROY (VICE PRESIDENT OF DEVELOPMENT): $228,527 total reported compensation
- RANAE KECKEISEN (TREASURER): $162,708 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Heritage services is committed to developing impactful philanthropic projects designed to enrich the omaha community. Heritage services identifies substantial needs or opportunities with high community impact and supports the realization of viable and sustainable civic projects. Heritage was involved in the fundraising and management of certain projects in 2024 including the new omaha central library and a new omaha children's museum at the riverfront in downtown omaha.
What it reported doing in 2024
Heritage services incurs certain operating costs in connection with fulfilling its mission of fundraising and management of nonprofit projects in the omaha metropolitan area. These costs include certain salaries and benefits, and certain operating and office expenses.
Operating model
- Revenue model
- Earned-program. 72% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% 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.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 60
- Transparency & Controls: 70
- Accountability: 95
- Sustainability: 53
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 65.2%; rating input score 65
- Program expense ratio: 73.3%; rating input score 73
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- 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: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 5%; rating input score 50; 50th percentile among comparable filings
- Total-asset coverage ratio: 4.42; rating input score 83; 83rd percentile among comparable filings
- Liabilities to assets ratio: 0.08; rating input score 46; 46th percentile among comparable filings
- Officer compensation ratio: 55.1%; rating input score 1; 1st percentile among comparable filings
Growth
- Program expense growth: -9% per year; rating input score 0; 5th percentile among comparable filings
- Revenue growth: -6.1% per year; rating input score 0; 4th percentile among comparable filings
- Asset growth: -17.1% per year; rating input score 0; 2nd percentile among comparable filings
Details
- Where the money goes: 65.2% of revenue deployed · 73.3% of spending went to programs
- Governance: 11 of 11 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.2M in reported program spending
- Leadership: top reported pay $376K · 16 people listed · 1 of 6 pay-setting controls reported
- Consistency: 19 of 19 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 7 filing years from 2018 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Related organizations: 2 filed related-organization links
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Sustainability: Operating margin scored 50/100.
- High — Growth: Asset growth scored 0/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Sustainability: Officer compensation ratio scored 1/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 46/100.