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← NEBRASKA INNOVATION CAMPUS DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by NEBRASKA INNOVATION CAMPUS DEVELOPMENT CORPORATION.

Totals

Total revenue
$3,471,005
Total expenses
$1,158,994
Contributions and grants received
$2,300,000
Grants paid
$0
Program service revenue
$0
Investment income
$41,065
Other revenue
$1,129,940
Total assets, end of year
$4,714,829
Total liabilities, end of year
$2,424,016
Net assets or fund balances, end of year
$2,290,813
Program services expenses (Part IX)
$928,137
Management and general expenses
$230,857
Fundraising expenses
$0
Program service expenses (Part III)
$928,137

Program services were 80.1% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $2,300,000

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2b · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2c · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2d · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2e · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $41,065 · related or exempt $0 · unrelated business $0 · excluded $41,065

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $1,193,748

  • 6b · Less rental expenses

    real property $68,076

  • 6c · Rental income or loss

    real property $1,125,672 · personal property $0

  • 6d · Net rental income or loss

    total $1,125,672 · excluded $1,125,672

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Miscellaneous Revenue

    total $2,591 · excluded $2,591

  • 11b · Other revenue: Sponsorship Income

    total $1,677 · related or exempt $1,677

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $4,268

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $7,265 · program services $0 · management and general $7,265 · fundraising $0

  • 11c · Fees: accounting

    total $3,821 · program services $0 · management and general $3,821 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $17,460 · program services $17,460 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $15,871 · program services $35 · management and general $15,836 · fundraising $0

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $10,070 · program services $10,070 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $45,126 · program services $45,126 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $42,726 · program services $0 · management and general $42,726 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Contractual Services

    total $557,333 · program services $428,546 · management and general $128,787 · fundraising $0

  • 24b · Other expenses: Leased Employees

    total $317,512 · program services $304,758 · management and general $12,754 · fundraising $0

  • 24c · Other expenses: NIC Parking Fund Expenses

    total $121,842 · program services $121,842 · management and general $0 · fundraising $0

  • 24d · Other expenses: Membership & Subscription

    total $13,502 · program services $0 · management and general $13,502 · fundraising $0

  • 24e · All other expenses

    total $6,466 · program services $300 · management and general $6,166 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,633,589 · end of year $2,738,684

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $2,013,639 · end of year $341,648

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,242,339 · end of year $1,224,302

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,586 · end of year $14,975

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $437,947 · end of year $395,220

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,348,229 · end of year $487,656

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $1,204,668 · end of year $1,166,733

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $798,401 · end of year $769,627

  • 27 · Net assets without donor restrictions

    beginning of year -$21,198 · end of year $2,290,813

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2024

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.

  • 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.

    Expenses $928,137 · Revenue $1,677

As filed on the 2024 return.

Listed in Part VII

  • Matt Williams

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Michael Zeleny

    Treasurer

    Total calculated
    $430,581
    From this org
    $0
    From related orgs
    $366,688
    Other
    $63,893
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $366,375 related
    Bonus
    $0
    Other
    $0 + $313 related
    Deferred
    $0 + $30,365 related
    Nontaxable benefits
    $0 + $33,528 related
    Filer's total
    $0 + $430,581 related

  • Tonn Ostergard

    Vice Chairman

    Total calculated
    $0
    Hours/week
    1

  • Dan Hoffman

    Director (Beg 03/2025)

    Total calculated
    $0
    Hours/week
    1

  • Dana Bradford

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Nelson

    Director (BEG 11/2024)

    Total calculated
    $274,695
    From this org
    $0
    From related orgs
    $233,424
    Other
    $41,271
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $232,878 related
    Bonus
    $0
    Other
    $0 + $546 related
    Deferred
    $0 + $18,850 related
    Nontaxable benefits
    $0 + $22,421 related
    Filer's total
    $0 + $274,695 related

  • Jessica Korinek

    Director (Beg 03/2025)

    Total calculated
    $0
    Hours/week
    1

  • Larry Miller

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michael Boehm

    Director

    Total calculated
    $435,043
    From this org
    $0
    From related orgs
    $385,552
    Other
    $49,491
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $385,191 related
    Bonus
    $0
    Other
    $0 + $361 related
    Deferred
    $0 + $26,796 related
    Nontaxable benefits
    $0 + $22,695 related
    Filer's total
    $0 + $435,043 related

  • Preeta Banasal

    Director (THRU 06/2024)

    Total calculated
    $0
    Hours/week
    1

  • Rodney Bennett

    Director

    Total calculated
    $781,918
    From this org
    $0
    From related orgs
    $719,582
    Other
    $62,336
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $718,801 related
    Bonus
    $0
    Other
    $0 + $781 related
    Deferred
    $0 + $34,800 related
    Nontaxable benefits
    $0 + $27,536 related
    Filer's total
    $0 + $781,918 related

  • Sherri Jones

    Director (THRU 11/2024)

    Total calculated
    $372,449
    From this org
    $0
    From related orgs
    $323,846
    Other
    $48,603
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $323,292 related
    Bonus
    $0
    Other
    $0 + $554 related
    Deferred
    $0 + $26,091 related
    Nontaxable benefits
    $0 + $22,512 related
    Filer's total
    $0 + $372,449 related

  • Tom Henning

    Director

    Total calculated
    $0
    Hours/week
    1

  • Vishal Singh

    Director (THRU 06/2024)

    Total calculated
    $0
    Hours/week
    1

  • Kate Engel

    Executive Director/Secretary

    Total calculated
    $200,189
    From this org
    $0
    From related orgs
    $176,177
    Other
    $24,012
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $153,009 related
    Bonus
    $0 + $23,060 related
    Other
    $0 + $108 related
    Deferred
    $0 + $14,394 related
    Nontaxable benefits
    $0 + $9,618 related
    Filer's total
    $0 + $200,189 related

  • Lacey Rohe

    Assistant Treasurer

    Total calculated
    $228,569
    From this org
    $0
    From related orgs
    $182,108
    Other
    $46,461
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $181,964 related
    Bonus
    $0
    Other
    $0 + $144 related
    Deferred
    $0 + $15,406 related
    Nontaxable benefits
    $0 + $31,055 related
    Filer's total
    $0 + $228,569 related

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

  • 5a · Pay contingent on this organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
UNIVERSITY OF NEBRASKA'S COMPENSATION COMMITTEE APPROVES THE COMPENSATION AND BENEFITS OF NICDC'S EXECUTIVE DIRECTOR.
Schedule J, Part I, Line 5a Compensation contingent on revenues of the organization
Nebraska Innovation Campus Development Corporation (NICDC) provides a bonus for Kate Engel based on quantitative and qualitative metrics for the year; including number of start-up companies formed and critically-assisted, advancement of strategic partnerships, funding for infrastructure, internships and training programs established, development of partners and champions, and outside industry sponsorship. The metric contingent upon revenue is a relatively small determinant in the overall review process.

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.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • HD GROUP LLC

    Unrelated · HEALTHCARE TE · NE · share of income $0 · share of assets $0

    Directly controlled by UNMC SRF

Provenance

Return type
form_990
Tax year
2024
Filed
19 January 2026
IRS schema version
2024v5.1
Source object
202600199349300680

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