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← MONA REAL ESTATE HOLDINGS

Form 990 for tax year 2024

Filed by MONA REAL ESTATE HOLDINGS.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2024 , filed 13 March 2026. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$25,912,560 changed to $98,141
Total expenses
$4,337,285 changed to $506,311
Contributions and grants received
$25,804,914 changed to $10,000
Grants paid
$4,257,780 changed to $0
Investment income
$51,396 changed to $13,515
Other revenue
$56,250 changed to $74,626
Total assets, end of year
$27,952,615 changed to $27,574,945
Total liabilities, end of year
$7,002,540 changed to $7,033,040
Net assets or fund balances, end of year
$20,950,075 changed to $20,541,905
Program services expenses
$4,337,285 changed to $506,311
Program service expenses (Part III)
$4,337,285 changed to $506,311

Listed only on the earlier return

  • Jon Watts
  • Margaret Hornady

Listed only on the later return

  • John Hell
  • John Wiederspan

Listed under a different title

  • Jan Einspahr: CHAIR then PRESIDENT
  • Jon Abegglen: ASSISTANT TREASURER then TREASURER
  • Sue Quambusch: PRESIDENT then PAST PRESIDENT

Totals

Total revenue
$25,912,560
Total expenses
$4,337,285
Contributions and grants received
$25,804,914
Grants paid
$4,257,780
Program service revenue
$0
Investment income
$51,396
Other revenue
$56,250
Total assets, end of year
$27,952,615
Total liabilities, end of year
$7,002,540
Net assets or fund balances, end of year
$20,950,075
Program services expenses (Part IX)
$4,337,285
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$4,337,285

Program services were 100.0% 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

    $25,804,914

  • 1g · Noncash contributions included above

    $25,804,914

  • 3 · Investment income

    total $51,396 · excluded $51,396

  • 6a · Gross rents

    real property $56,250

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $56,250

  • 6d · Net rental income or loss

    total $56,250 · related or exempt $56,250

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,257,780 · program services $4,257,780

  • 11b · Fees: legal

    total $20,484 · program services $20,484

  • 16 · Occupancy

    total $1 · program services $1

  • 20 · Interest

    total $55,806 · program services $55,806

  • 24a · Other expenses: BANK FEES

    total $3,081 · program services $3,081

  • 24b · Other expenses: AMORTIZATION OF CLOSING

    total $133 · program services $133

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $358,000 · end of year $340,500

  • 2 · Savings and temporary cash investments

    beginning of year $6,010,196 · end of year $1,800,731

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

    $25,804,914

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $25,804,914

  • 15 · Other assets

    beginning of year $6,604 · end of year $6,470

  • 23 · Secured mortgages and notes payable

    beginning of year $7,000,000 · end of year $7,000,000

  • 24 · Unsecured notes and loans payable

    end of year $2,540

  • 27 · Net assets without donor restrictions

    beginning of year -$625,200 · end of year $20,950,075

Mission and programs · 2024

Mission

TO PROVIDE ENJOYMENT AND EDUCATION OF NEBRASKA-CONNECTED ARTISTS AND ART. THIS ORGANIZATION'S EXCLUSIVE PURPOSE IS TO OPERATE AS A SUPPORTING ORGANIZATION BY CONDUCTING OR SUPPORTING ACTIVITIES FOR THE BENEFIT OR TO PERFORM THE FUNCTION OF, OR TO CARRY OUT THE PURPOSES OF, MUSEUM OF NEBRASKA ART, A NEBRASKA NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3), 509(A)(3)(B)(I) OF THE INTERNAL REVENUE CODE.KS THAT REFLECT THE CULTURE OF NEBRASKA.

Activities or mission (Part I)

TO PROVIDE ENJOYMENT AND EDUCATION OF NEBRASKA-CONNECTED ARTISTS AND ART. THIS ORGANIZATION'S EXCLUSIVE PURPOSE IS TO OPERATE AS A SUPPORTING ORGANIZATION BY CONDUCTING OR SUPPORTING ACTIVITIES FOR THE BENEFIT OR TO PERFORM THE FUNCTION OF, OR TO CARRY OUT THE PURPOSES OF, MUSEUM OF NEBRASKA ART, A NEBRASKA NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3), 509(A)(3)(B)(I) OF THE INTERNAL REVENUE CODE.

  • THE ORGANIZATION EXISTS SOLELY TO PROVIDE SUPPORT TO MUSEUM OF NEBRASKA ART (MONA) AND ITS PROGRAMS, INCLUDING THE PROJECT. THE ORGANIZATION'S FACILITATION OF THE PROJECT WILL RELIEVE MONA OF THE BURDEN OF FINANCING ALL CONSTRUCTION COSTS FOR THE PROJECT, BY UTILIZING THE NMTC PROGRAM (AS DESCRIBED BELOW). IN CONDUCTING THE PROJECT, THE ORGANIZATION IS ACTING TO MATERIALLY ASSIST MONA, AND IS ALLOWING RESOURCES OF MONA THAT WOULD OTHERWISE BE DEVOTED TO THE PROJECT TO BE REALLOCATED ELSEWHERE. FURTHER, THE ORGANIZATION'S ACTIVITIES WILL ASSIST MONA IN ADVANCING EDUCATIONAL ANDCHARITABLE PURPOSES BY FACILITATING THE FUNDING AND CONSTRUCTION OF THE PROJECT, WHICH WILL ULTIMATELY HOUSE AN ART MUSEUM FOR THE BENEFIT OF THE GENERAL PUBLIC. THE ORGANIZATION WILL OBTAIN FUNDING FOR CONSTRUCTION OF THE PROJECT BY OBTAINING LOW-INTEREST LOANS IN THE FORM OF ''QUALIFIED LOW-INCOME COMMUNITY INVESTMENTS'' THROUGH THE FEDERAL NEW MARKET TAX CREDITS PROGRAM (THE ''NMTC PROGRAM''). THE NMTC PROGRAM IS A FEDERAL ECONOMIC INCENTIVE TO ENCOURAGE INVESTMENT IN LOW-INCOME COMMUNITIES. THE FUNDS OBTAINED BY THE ORGANIZATION THROUGH THE NMTC PROGRAM WILL BE USED TO DEVELOP AND CONSTRUCT THE PROJECT. THE ORGANIZATION WILL SATISFY THE REQUIREMENTS OF A ''QUALIFIED ACTIVE LOW INCOME BUSINESS'' (ALSO KNOWN AS A ''QALICB'') UNDER THE NMTC PROGRAM. THE NMTC PROGRAM IS AVAILABLE TO THE ORGANIZATION IF IT SATISFIES THE APPLICABLE REQUIREMENTS OF A QALICB UNDER SECTION 45D OF THE CODE. IT IS ANTICIPATED THAT THE FINANCING SUBSIDY PROVIDED BY THE NMTC PROGRAM WILL LOWER DEVELOPMENT COSTS OF THE PROJECT SIGNIFICANTLY-- BY AS MUCH AS $2,730,000. THE AVAILABILITY OF THIS FINANCING WILL LESSEN MONA'S FINANCIAL BURDEN FOR THE PROJECT. ONE HUNDRED PERCENT OF THE ORGANIZATION'S TOTAL TIME WILL BE DEVOTED TO THE PROJECT. ONE HUNDRED PERCENT OF THE ORGANIZATION'S TOTAL EXPENSES WILL BE ALLOCATED TO THE PROJECT.

    Expenses $4,337,285 · Grants $4,257,780

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jon Abegglen

    ASSISTANT TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Jon Watts

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Jan Einspahr

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Sue Quambusch

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Margaret Hornady

    MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Andrew Dunehoo

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 40 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.

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
2024
Filed
7 May 2025
IRS schema version
2024v5.1
Source object
202541339349302024

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