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Nonprofiteer
← GREATER LINCOLN CHAMBER FOUNDATION

Form 990 for tax year 2022

Filed by GREATER LINCOLN CHAMBER FOUNDATION.

Totals

Total revenue
$253,830
Total expenses
$250,737
Contributions and grants received
$239,000
Grants paid
$55,000
Program service revenue
$0
Investment income
$14,830
Other revenue
$0
Total assets, end of year
$1,243,489
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,243,489
Program services expenses (Part IX)
$234,577
Management and general expenses
$16,160
Fundraising expenses
$0
Program service expenses (Part III)
$234,577

Program services were 93.6% 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.

  • 1f · All other contributions, gifts and grants

    $239,000

  • 3 · Investment income

    total $14,830 · excluded $14,830

  • 7a · Gross sales of assets other than inventory

    securities $25,000

  • 7b · Less cost or other basis and sales expenses

    securities $25,000

  • 7c · Gain or loss

    securities $0

  • 7d · Net gain or loss

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $55,000 · program services $55,000

  • 7 · Other salaries and wages

    total $18,868 · program services $9,434 · management and general $9,434

  • 9 · Other employee benefits

    total $5,212 · program services $2,606 · management and general $2,606

  • 10 · Payroll taxes

    total $1,426 · program services $713 · management and general $713

  • 11c · Fees: accounting

    total $2,625 · program services $1,313 · management and general $1,312

  • 11f · Fees: investment management

    total $1,010 · management and general $1,010

  • 11g · Fees: other

    total $39,426 · program services $39,426

  • 23 · Insurance

    total $2,170 · program services $1,085 · management and general $1,085

  • 24a · Other expenses: ECONOMIC DEVELOPMENT

    total $125,000 · program services $125,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $301,460 · end of year $39,248

  • 2 · Savings and temporary cash investments

    beginning of year $75,508 · end of year $320,524

  • 11 · Investments: publicly traded securities

    beginning of year $1,038,646 · end of year $883,717

  • 27 · Net assets without donor restrictions

    beginning of year $1,117,974 · end of year $894,645

  • 28 · Net assets with donor restrictions

    beginning of year $297,640 · end of year $348,844

Mission and programs · 2022

Mission

TO ENGAGE IN THE PROMOTION AND SUPPORT OF THE RETENTION AND EXPANSION OF LOCAL BUSINESSES.

  • TO FACILITATE THE ACCUMULATION AND PRESENTATION OF INFORMATION REGARDING THE LINCOLN AREA TO BUSINESSES. TO ASSIST IN IMPLEMENTING AND INTEGRATING PROACTIVE ECONOMIC DEVELOPMENT INITIATIVES AND TO ACTIVELY MARKET TO ATTRACT NEW EMPLOYERS. TO IMPROVE THE BUSINESS ENVIRONMENT FOR RETAILERS.

    Expenses $234,577 · Grants $55,000

As filed on the 2022 return.

Listed in Part VII

  • Terry Heimes

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mark Hesser

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Sue Wilkinson

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Bob Balfany

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Russ Gronewold

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Susan Keisler-Munro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Marc Lebaron

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John Miles

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lg Searcey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jason Ball

    SECRETARY

    Total calculated
    $292,194
    From this org
    $0
    From related orgs
    $251,108
    Other
    $41,086
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $194,745 related
    Bonus
    $0 + $25,000 related
    Other
    $0 + $31,363 related
    Deferred
    $0 + $14,620 related
    Nontaxable benefits
    $0 + $26,466 related
    Filer's total
    $0 + $292,194 related

  • Bruce Bohrer

    VP & GENERAL COUNCIL

    Total calculated
    $194,891
    From this org
    $14,315
    From related orgs
    $135,455
    Other
    $45,121
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $13,252 + $119,270 related
    Bonus
    $0 + $6,616 related
    Other
    $1,063 + $9,569 related
    Deferred
    $1,054 + $9,482 related
    Nontaxable benefits
    $3,459 + $31,126 related
    Filer's total
    $18,828 + $176,063 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

None.

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

The filer's explanations (Part III)

PART I, LINE 3
A COMPENSATION COMMITTEE WAS USED BY THE CHAMBER OF COMMERCE.
FORM 990, SCH J, PART III
THE PRESIDENT OF THE FOUNDATION'S SALARY IS DETERMINED BY THE LINCOLN CHAMBER OF COMMERCE, AN AFFILIATED ORGANIZATION. THE AFFILIATED ORGANIZATION USES A COMPENSATION COMMITTEE, WRITTEN EMPLOYMENT CONTRACT, AND COMPENSATION STUDY TO DETERMINE THE SALARY AMOUNT. THE SALARY IS ALSO APPROVED BY THE BOARD OF DIRECTORS.

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202323199349307452

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