Skip to content
Nonprofiteer
← SEVENTY-FIVE NORTH REVITALIZATION CORPORATION

Form 990 for tax year 2022

Filed by SEVENTY-FIVE NORTH REVITALIZATION CORPORATION.

Totals

Total revenue
$5,180,265
Total expenses
$7,978,701
Contributions and grants received
$3,440,201
Grants paid
$0
Program service revenue
$554,585
Investment income
$1,123,241
Other revenue
$62,238
Total assets, end of year
$50,146,343
Total liabilities, end of year
$5,627,438
Net assets or fund balances, end of year
$44,518,905
Program services expenses (Part IX)
$7,511,731
Management and general expenses
$358,157
Fundraising expenses
$108,813
Program service expenses (Part III)
$7,511,731

Program services were 94.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $1,079,946

  • 1f · All other contributions, gifts and grants

    $2,360,255

  • 1g · Noncash contributions included above

    $47,457

  • 2a · Program service revenue: ACCELERATOR- COMMUNITY

    total $253,079 · related or exempt $253,079

  • 2b · Program service revenue: ACCELERATOR- EDUCATION

    total $119,096 · related or exempt $119,096

  • 2c · Program service revenue: EVENT HALL REVENUE

    total $112,040 · unrelated business $112,040

  • 2d · Program service revenue: DEVELOPMENT FEES

    total $70,370 · related or exempt $70,370

  • 3 · Investment income

    total $1,123,241 · excluded $1,123,241

  • 6a · Gross rents

    real property $15,720

  • 6b · Less rental expenses

    real property $18,644

  • 6c · Rental income or loss

    real property -$2,924

  • 6d · Net rental income or loss

    total -$2,924 · excluded -$2,924

  • 11a · Other revenue: MISCELLANEOUS

    total $65,162 · related or exempt $65,162

  • 11e · Other revenue, total

    $65,162

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $199,814 · program services $112,763 · management and general $20,232 · fundraising $66,819

  • 7 · Other salaries and wages

    total $312,816 · program services $260,361 · management and general $38,579 · fundraising $13,876

  • 8 · Pension plan contributions

    total $5,717 · program services $4,158 · management and general $660 · fundraising $899

  • 9 · Other employee benefits

    total $55,029 · program services $40,006 · management and general $6,368 · fundraising $8,655

  • 10 · Payroll taxes

    total $35,576 · program services $26,078 · management and general $4,516 · fundraising $4,982

  • 11b · Fees: legal

    total $2,508 · program services $2,508

  • 11c · Fees: accounting

    total $101,332 · management and general $101,332

  • 11g · Fees: other

    total $301,972 · program services $258,662 · management and general $43,256 · fundraising $54

  • 12 · Advertising and promotion

    total $63,954 · program services $52,649 · management and general $396 · fundraising $10,909

  • 13 · Office expenses

    total $68,135 · program services $30,500 · management and general $35,016 · fundraising $2,619

  • 16 · Occupancy

    total $1,029,922 · program services $985,789 · management and general $44,133

  • 17 · Travel

    total $12,406 · program services $2,583 · management and general $9,823

  • 20 · Interest

    total $11,250 · program services $11,250

  • 21 · Payments to affiliates

    total $5,090,765 · program services $5,090,765

  • 22 · Depreciation, depletion and amortization

    total $85,624 · program services $76,713 · management and general $8,911

  • 23 · Insurance

    total $30,823 · program services $9,804 · management and general $21,019

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $248,455 · program services $240,528 · management and general $7,927

  • 24b · Other expenses: PROGRAM SUPPLIES

    total $204,572 · program services $204,572

  • 24c · Other expenses: SECURITY

    total $92,818 · program services $91,828 · management and general $990

  • 24d · Other expenses: OTHER

    total $25,213 · program services $10,214 · management and general $14,999

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,582,522 · end of year $693,759

  • 2 · Savings and temporary cash investments

    beginning of year $3,937,905 · end of year $11,338,431

  • 3 · Pledges and grants receivable

    beginning of year $6,834,636 · end of year $1,300,000

  • 7 · Other notes and loans receivable

    beginning of year $28,269,667 · end of year $30,151,278

  • 10a · Land, buildings and equipment: cost or other basis

    $1,800,392

  • 10b · Land, buildings and equipment: accumulated depreciation

    $513,792

  • 10c · Land, buildings and equipment, net

    beginning of year $1,479,219 · end of year $1,286,600

  • 13 · Investments: program-related

    beginning of year -$513,637 · end of year -$491,031

  • 15 · Other assets

    beginning of year $3,913,651 · end of year $5,867,306

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,193,143 · end of year $1,873,026

  • 19 · Deferred revenue

    beginning of year $12,537 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $389,567 · end of year $349,567

  • 25 · Other liabilities

    beginning of year $2,911,370 · end of year $3,404,845

  • 27 · Net assets without donor restrictions

    beginning of year $30,182,803 · end of year $32,177,000

  • 28 · Net assets with donor restrictions

    beginning of year $17,814,543 · end of year $12,341,905

Mission and programs · 2022

Mission

THE MISSION OF THE SEVENTY-FIVE NORTH REVITALIZATION CORPORATION IS TO FACILITATE A HEALTHY, SUSTAINABLE, MIXED-INCOME COMMUNITY IN THE HIGHLANDER NEIGHBORHOOD IN NORTH OMAHA.

Activities or mission (Part I)

TO FACILITATE A HEALTHY, SUSTAINABLE, MIXED-INCOME COMMUNITY IN THE HIGHLANDER NEIGHBORHOOD IN NORTH OMAHA. WE WORK TO BREAK THE CYCLE OF POVERTY AND COMMUNITY DETERIORATION BY PARTNERING TO CREATE HIGH-QUALITY HOUSING, THRIVING SCHOOLS, RECREATIONAL FACILITIES AND OTHER NEIGHBORHOOD ENRICHMENT AMENITIES.

  • HOUSING - ACQUISITION AND STRATEGIC PLANNING FOR PROPERTIES IN NORTH OMAHA IN ORDER TO REVITALIZE THE AREA THROUGH REPURPOSING OF VACANT, ABANDONED, CONDEMNED, AND UNCLAIMED STRUCTURES AND KEY PARCELS OF LAND THROUGHOUT THE NORTHEAST SECTION OF THE CITY. THE DEVELOPMENT PROJECT IS LOCATED IN THE HIGHLANDER NEIGHBORHOOD.

    Expenses $5,421,424 · Revenue $135,532

  • EDUCATION - SUPPORT AND BUILD THRIVING SCHOOLS IN THE HIGHLANDER NEIGHBORHOOD AREA, INCLUDING HOWARD KENNEDY ELEMENTARY SCHOOL.

    Expenses $532,110 · Revenue $119,096

  • COMMUNITY - SUPPORT AND ENRICH THE RESIDENTS OF THE HIGHLANDER NEIGHBORHOOD AND SURROUNDING AREA BY OFFERING PROGRAMS TO ADVANCE SKILLS AND OTHER AMENITIES.

    Expenses $1,558,197 · Revenue $253,079

As filed on the 2022 return.

Listed in Part VII

  • DANA WASHINGTON

    CHAIRMAN/PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • MEREDITH DILLON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ADAM STEFFEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DANA BRADFORD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KENNY ROCKER

    BOARD MEMBER UNTIL MARCH 2022

    Total calculated
    $0
    Hours/week
    1

  • BRADLEY EKWEREKWU

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DAVID ARNOLD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • STEVEN JENSEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ERIN BOCK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CYDNEY FRANKLIN

    PRESIDENT/CEO

    Total calculated
    $199,814
    From this org
    $183,645
    From related orgs
    $0
    Other
    $16,169
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $183,645
    Bonus
    $0
    Other
    $0
    Deferred
    $8,264
    Nontaxable benefits
    $7,905
    Filer's total
    $199,814

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • HIGHLANDER PHASE I QALICB INC

    501(C)(2) · TITLE HOLDING CORPORATION · NE · controlled entity

    Directly controlled by SEVENTY-FIVE NORTH REVITALIZATION CORPORATION

  • HIGHLANDER DEVELOPMENT CO

    501(C)(3) · FINANCE, DEVELOP AND OPERATE LOW INCOME HOUSING DEVELOPMENTS · NE · controlled entity

    Directly controlled by SEVENTY-FIVE NORTH REVITALIZATION CORPORATION

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 3200 NORTH 30TH LLC

    PROPERTY TITLE HOLDER · NE · income $0 · assets $76,600

    Directly controlled by SEVENTY-FIVE NORTH REVITALIZATION CORPORATION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • 75NHP1 LLC

    C · MANAGEMENT OF PROGRAM HOUSING · NE · 100% owned · share of income -$43 · share of assets -$208 · controlled entity

    Directly controlled by SEVENTY-FIVE NORTH REVITALIZATION CORPORATION

  • 75NHP4 LLC

    C · MANAGEMENT OF PROGRAM HOUSING · NE · 100% owned · share of assets $80 · controlled entity

    Directly controlled by SEVENTY-FIVE NORTH REVITALIZATION CORPORATION

  • 75NKSE LLC

    C · MANAGEMENT OF PROGRAM HOUSING · NE · 100% owned · share of assets $20 · controlled entity

    Directly controlled by SEVENTY-FIVE NORTH REVITALIZATION CORPORATION

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202333199349313228

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.