2024-11-15T00:16:22-06:00 2023-12-31 470677245 HBE LLP 7140 STEPHANIE LANE PO BOX 23110 LINCOLN NE 685423110 990 2023-06-01 932353930 MONA REAL ESTATE HOLDINGS MONA 3088658559 2401 CENTRAL AVE KEARNEY NE 68847 JANET EINSPAHR CHAIR 3088658559 2024-11-13 1 1 ASHLEY S BELL CPA P02166499 4024234343 2024-11-13 2023 2024-10-15 13:58:12Z X JANET EINSPAHR 2401 CENTRAL AVE KEARNEY NE 68847 29896 0 X MONA.UNK.EDU X 2023 NE 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. 5 5 0 5 0 0 0 0 29896 0 29896 0 0 0 0 0 655096 655096 -625200 6374800 7000000 -625200 X 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. 0 0 654291 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. 654291 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 X MCFARLIN & BROKKE PC 4023419441 14400 BRANCH ST SUITE 501 OMAHA NE 68154 JON ABEGGLEN ASSISTANT TREASURER 2.00 X X 0 0 0 JON WATTS TREASURER 2.00 X X 0 0 0 JAN EINSPAHR CHAIR 2.00 X X 0 0 0 SUE QUAMBUSCH MEMBER 2.00 2.00 X 0 0 0 MARGARET HORNADY MEMBER 2.00 2.00 X 0 0 0 ANDREW DUNEHOO EXECUTIVE DIRECTOR 2.00 40.00 X 0 34279 0 0 34279 0 0 0 0 0 0 29896 29896 29896 0 0 29896 X 283081 283081 38000 38000 333210 333210 805 0 805 655096 654291 805 0 358000 6010196 0 6604 0 6374800 7000000 0 7000000 X -625200 0 0 -625200 0 6374800 -625200 0 X X 0 1 X 1 0 X X X 1 MUSEUM OF NEBRASKA ART 470608588 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 X PART X, LINE 2: MONA REAL ESTATE HOLDINGS IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES. FOR THE YEAR ENDED DECEMBER 31, 2023, MONA REAL ESTATE HOLDINGS HAD NO TAX LIABILITY ON UNRELATED BUSINESS ACTIVITY. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 11B MUSEUM DIRECTOR COMPLETES EXTENSIVE REVIEW AND SUBMITS COMMENTS AND SUGGESTED CHANGES TO THE TAX PREPARER. ANY NEEDED CHANGES ARE THEN MADE. AFTER THE MUSEUM DIRECTOR REVIEWS THE NEEDED CHANGES, THE RETURN IS THEN REVIEWED BY THE BOARD PRESIDENT. ANY FURTHER CHANGES REQUIRED AFTER THAT REVIEW ARE THEN COMPLETED BY THE TAX PREPARER. THE RETURN IS THEN REVIEWED AND SIGNED BY THE PRESIDENT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, BOARD MEMBERS ARE GIVEN A NEW ANNUAL DISCLOSURE FORM TO FILL OUT. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE ON FILE AT THE MUSEUM OFFICE AND THEY ARE AVAILABLE ONLINE AT GUIDESTAR.ORG. FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 333,210. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 333,210. PART XII LINE 2C NEWLY FORMED ENTITY WILL BE AUDITED ON THE CONSOLIDATED BASIS WITH SUPPORTING ORGANIZATION MUSEUM OF NEBRASKA ART MUSEUM OF NEBRASKA ART 2401 CENTRAL AVENUE KEARNEY NE 68847 470608588 MUSEUM NE 501(C)(3) LINE 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 MUSEUM OF NEBRASKA ART P 0 ACTUAL THE TAX YEAR PER THE IRS DETERMINATION LETTER WAS 12/31/ THE BYLAWS STATE THE YEAR-END SHOULD BE 6/30 TO ALIGN WITH THE SUPPORTING ORGANIZATION. SINCE THIS A FIRST YEAR RETURN THE ORGANIZATION FAILED TO REALIZE THIS UNTIL THEY STARTED PREPARING THE RETURN AS IF THE YEAR END WAS 6/30. GOING FORWARD THE ORGANIZATION IS WORKING ON GETTING THE YEAR END UPDATED AND THE 990S WILL BE FILED TIMELY WITH THE HELP OF AN ACCOUNTING FIRM. MUSEUM OF NEBRASKA ART'S 990 HAS ALWAYS BEEN FILED TIMELY.