Med Center Development Corporation

Nonprofit profile at a glance

EIN
822904691
IRS 990 coverage
2018–2022
Forms available
Form 990 2022
Location
Omaha, NE, USA
Phone
4023971700
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations

Reported finances

Revenue
$119,009
Expenses
$119,009
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

9 people listed

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Med Center Development Corporation (MCDC) shall develop campus property essential to sustain and maintain a healthy future for the campus's character, heritage, and quality of life - all while accommodating development of facilities needed to uphold our academic mission, extraordinary patient care, innovative research, and creation of a livable community that is truly world class in urban development. We will redefine community standards by providing an exceptional residential, retail, and commercial experience for our midtown community, and indeed, to the benefit of all Nebraskans as our programs grow on the campus, in the community, and around the world.

What it reported doing in 2022

The Med Center Development Corporation (MCDC) provides support and assistance for the development of properties owned by the University of Nebraska and enhancement of the Mid-Town Omaha, NE area near the University of Nebraska Medical Center (UNMC) campus.

Operating model

Revenue model
Affiliate-supported. 100% of the money available for current operations came from contributions from related organizations.
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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 65
  • Accountability: 74
  • Sustainability: 20
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.2%; rating input score 99
  • Program expense ratio: 99.2%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 22nd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 0%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 116.2%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -32.8% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -32.8% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: Limited

Details

  • Where the money goes: 99.2% of revenue deployed · 99.2% of spending went to programs
  • Governance: 5 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $118K in reported program spending
  • Leadership: top reported pay $1M · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 5 filing years from 2018 to 2022
  • Contacts: How to reach this organization
  • Related organizations: 14 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.

Key Signals

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

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.