Nebraska Innovation Campus Development Corporation

Nonprofit profile at a glance

EIN
275334174
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Lincoln, NE, USA
Phone
4024722881
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$3,471,005
Expenses
$1,158,994
Assets
$4,714,829
Liabilities
$2,424,016

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

Leadership & pay

16 people listed

Executive titles in this filing

  • Kate Engel (Executive Director/Secretary)

Highest reported compensation

  • Rodney Bennett (Director): $781,918 total reported compensation
  • Michael Boehm (Director): $435,043 total reported compensation
  • Michael Zeleny (Treasurer): $430,581 total reported compensation

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

Overview

Mission

Nebraska Innovation Campus Development Corporation's mission is the development of a sustainable research campus which capitalizes on research growth and expertise of University of Nebraska - Lincoln (UNL) faculty.

What it reported doing in 2024

Nebraska Innovation Campus Development Corporation's mission is the development and revitalization of the former State Fair into a sustainable research campus which capitalizes on research growth and expertise of University of Nebraska - Lincoln (UNL) faculty.

Operating model

Revenue model
Affiliate-supported. 66% 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 - 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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 69
  • Accountability: 70
  • Sustainability: 72
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 27.6%; rating input score 28
  • Program expense ratio: 80.1%; rating input score 80
  • 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: 63.6%; rating input score 64; 10th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: 66.6%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 4.07; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.51; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 29%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 26.6% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 29.7% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 39.1% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 27.6% of revenue deployed · 80.1% of spending went to programs
  • Governance: 7 of 11 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $928K in reported program spending
  • Leadership: top reported pay $782K · 16 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $522K reported
  • Consistency: 42 of 42 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
  • Related organizations: 11 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 — Financial Efficiency: Mission deployment rate scored 28/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.