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← UNIVERSITY VILLAGE DEVELOPMENT COROPORATION OF KEARNEY

Form 990 for tax year 2022

Filed by UNIVERSITY VILLAGE DEVELOPMENT COROPORATION OF KEARNEY.

Totals

Total revenue
$462,985
Total expenses
$653,011
Contributions and grants received
$239,907
Grants paid
$327,500
Program service revenue
$0
Investment income
$338
Other revenue
$222,740
Total assets, end of year
$9,546,641
Total liabilities, end of year
$9,689,347
Net assets or fund balances, end of year
-$142,706
Program services expenses (Part IX)
$647,856
Management and general expenses
$5,155
Fundraising expenses
$0
Program service expenses (Part III)
$647,856

Program services were 99.2% 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.

  • 1d · Related organizations

    $239,907

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $338 · excluded $338

  • 6a · Gross rents

    real property $222,740

  • 6c · Rental income or loss

    real property $222,740 · personal property $0

  • 6d · Net rental income or loss

    total $222,740 · excluded $222,740

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $327,500 · program services $327,500

  • 11c · Fees: accounting

    total $1,236 · management and general $1,236

  • 11g · Fees: other

    total $268,051 · program services $268,051 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $2,099 · program services $2,099

  • 13 · Office expenses

    total $44 · program services $44

  • 24a · Other expenses: LEASED EMPLOYEES

    total $51,939 · program services $48,020 · management and general $3,919

  • 24b · Other expenses: Food & Meal Expense

    total $1,935 · program services $1,935

  • 24c · Other expenses: Tax & Licensing for Non-Capital Equip

    total $32 · program services $32

  • 24e · All other expenses

    total $175 · program services $175 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $38,257 · end of year $108,874

  • 4 · Accounts receivable

    beginning of year $15,470 · end of year $61,351

  • 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 $1,473,755 · end of year $9,376,416

  • 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

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $1,480,162 · end of year $9,689,347

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $24,007 · end of year -$185,879

  • 28 · Net assets with donor restrictions

    beginning of year $23,313 · end of year $43,173

Mission and programs · 2022

Mission

University Village Development Corporation of Kearney (UVDCK) is focused on improvement, development, and operation of underutilized land near the University of Nebraska - Kearney (UNK) campus to unite the university and community into one integrated experience.

  • University Village Development Corporation of Kearney (UVDCK) is focused on improvement, development, and operation of underutilized land near the University of Nebraska - Kearney (UNK) campus to unite the university and community into one integrated experience.

    Expenses $647,856 · Grants $327,500

As filed on the 2022 return.

Listed in Part VII

  • Joey Cochran

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Jon Watts

    TREASURER

    Total calculated
    $242,299
    From this org
    $0
    From related orgs
    $203,391
    Other
    $38,908
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $203,127 related
    Bonus
    $0
    Other
    $0 + $264 related
    Deferred
    $0 + $16,646 related
    Nontaxable benefits
    $0 + $22,262 related
    Filer's total
    $0 + $242,299 related

  • Reed Miller

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Doug Kristensen

    DIRECTOR

    Total calculated
    $392,129
    From this org
    $0
    From related orgs
    $363,589
    Other
    $28,540
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $325,386 related
    Bonus
    $0
    Other
    $0 + $38,203 related
    Deferred
    $0 + $23,590 related
    Nontaxable benefits
    $0 + $4,950 related
    Filer's total
    $0 + $392,129 related

  • Megan Goeke

    DIRECTOR

    Total calculated
    $76,432
    From this org
    $0
    From related orgs
    $53,928
    Other
    $22,504
    Hours/week
    1 + 39 related

  • Michael Christen

    EXECUTIVE DIRECTOR/SECRETARY

    Total calculated
    $122,829
    From this org
    $0
    From related orgs
    $106,251
    Other
    $16,578
    Hours/week
    19 + 21 related

  • Alan Wedige

    PROJECT MANAGER

    Total calculated
    $141,767
    From this org
    $0
    From related orgs
    $115,951
    Other
    $25,816
    Hours/week
    4 + 36 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)

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 UVDCK's executive director.

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.

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

Related corporations and trusts

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

  • NE ENTERPRISES INC

    C Corporation · BIO TECH · NE · share of income $0 · share of assets $0

    Directly controlled by UNIV TECH

Provenance

Return type
form_990
Tax year
2022
Filed
20 February 2024
IRS schema version
2022v5.0
Source object
202400519349301430

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