Form 990 for tax year 2024

Filed by MONA REAL ESTATE HOLDINGS.

What the amendment changed

Compared with the return it replaced , filed 7 May 2025. matched by us Only the Part I totals and the names listed in Part VII 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 WattsJON WATTS
Margaret HornadyMARGARET HORNADY

Listed only on the later return

John HellJOHN HELL
John WiederspanJOHN WIEDERSPAN

Listed under a different title

Jan EinspahrJAN EINSPAHR: CHAIR then PRESIDENT
Jon AbegglenJON ABEGGLEN: ASSISTANT TREASURER then TREASURER
Sue QuambuschSUE QUAMBUSCH: PRESIDENT then PAST PRESIDENT

Totals

Total revenue: $98,141
Total expenses: $506,311
Contributions and grants received: $10,000
Grants paid: $0
Program service revenue: $0
Investment income: $13,515
Other revenue: $74,626
Total assets, end of year: $27,574,945
Total liabilities, end of year: $7,033,040
Net assets or fund balances, end of year: $20,541,905
Program services expenses (Part IX): $506,311
Management and general expenses: $0
Fundraising expenses: $0
Program service expenses (Part III): $506,311

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.

1f · All other contributions, gifts and grants

$10,000
3 · Investment income

total $13,515 · excluded $13,515
6a · Gross rents

real property $75,000
6b · Less rental expenses

real property $374
6c · Rental income or loss

real property $74,626
6d · Net rental income or loss

total $74,626 · related or exempt $74,626

Functional expenses

Part IX, the statement of functional expenses.

11g · Fees: other

total $76,408 · program services $76,408
13 · Office expenses

total $1,700 · program services $1,700
16 · Occupancy

total $1 · program services $1
20 · Interest

total $70,000 · program services $70,000
22 · Depreciation, depletion and amortization

total $358,202 · program services $358,202

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $340,500 · end of year $271,881
2 · Savings and temporary cash investments

beginning of year $1,800,731 · end of year $13,331
9 · Prepaid expenses and deferred charges

end of year $73
10a · Land, buildings and equipment: cost or other basis

$27,641,466
10b · Land, buildings and equipment: accumulated depreciation

$358,035
10c · Land, buildings and equipment, net

beginning of year $25,804,914 · end of year $27,283,431
15 · Other assets

beginning of year $6,470 · end of year $6,229
23 · Secured mortgages and notes payable

beginning of year $7,000,000 · end of year $7,000,000
24 · Unsecured notes and loans payable

beginning of year $2,540 · end of year $33,040
27 · Net assets without donor restrictions

beginning of year $20,950,075 · end of year $20,541,905

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)

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 AND CHARITABLE 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 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 AVAILABLETO 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 $506,311 · Revenue $74,626

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

Listed in Part VII

Jon AbegglenJON ABEGGLEN

TREASURER

Total calculated

$0

Hours/week

2
John HellJOHN HELL

SECRETARY

Total calculated

$0

Hours/week

2
Jan EinspahrJAN EINSPAHR

PRESIDENT

Total calculated

$0

Hours/week

2
Sue QuambuschSUE QUAMBUSCH

PAST PRESIDENT

Total calculated

$0

Hours/week

2 + 2 related
John WiederspanJOHN WIEDERSPAN

MEMBER

Total calculated

$0

Hours/week

2 + 2 related
Andrew DunehooANDREW 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

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.

MUSEUM OF NEBRASKA ART

501(C)(3) · MUSEUM · NE

Provenance

Return type: form_990
Tax year: 2024
Filed: 13 March 2026
IRS schema version: 2024v5.5
Source object: 202600729349301765

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