Velocity Entreprenurial Drive in Folsom, California (CA)

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Velocity Entreprenurial Drive
Employer Identification Number (EIN)260382616
Name of OrganizationVelocity Entreprenurial Drive
In Care of NameJack G Crawford Jr
Address181 Blue Ravine Road No 120, Folsom, CA 95630
SubsectionCharitable Organization
Ruling Date09/2008
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
Exempt Organization StatusUnconditional Exemption
Tax Period2012
Assets$25,000 to $99,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$40,000
Amount of Income$139,314
Form 990 Revenue Amount$139,314
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Public Foundations

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Amount of income in 2012: $139,314 (it was $139,314 in 2013)
This organization: 

Other organizations performing similar types of work: 


Assets in 2012: $40,000 (it was $40,000 in 2013)
This organization: 

Other organizations performing similar types of work: 


Expenses in 2013: $99,314
Velocity Entreprenurial Drive: 

Other organizations performing similar types of work: 


Income to expenses ratio in 2013: 1.4
This organization: 

Other organizations performing similar types of work: 


Grants share in income in 2013: 100.0%
Velocity Entreprenurial Drive: 

Other organizations performing similar types of work: 


Financial snapshot ($)

Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue$139,314
Contributions, gifts, grants, and similar amounts received$139,314
Program service revenue including government fees and contracts$0
Membership dues and assessments$0
Investment income$0
Gain/Loss from sale of assets other than inventory$0
Net income/loss from gaming and fundraising events$0
Gross profit/loss from sales of inventory$0
Other revenue$0
Total expenses$99,314
Total net assets$40,000
Excess/Deficit for the year$40,000
Net assets or fund balances at beginning of year$0
Other changes in net assets or fund balances$0
Net assets or fund balances at end of year$40,000
Balance Sheets
Total assets$40,000
Total liabilities$0
Net assets or fund balances$40,000
Other Information
Did the organization engage in any significant activity not previously reported to the IRS?No
Were any significant changes made to the organizing or governing documents?No
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNo
Has the organization filed a Form 990-T for the year?No
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?No
Amount of political expenditures, direct or indirect$0
Did the organization file Form 1120-POL for this year?No
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?No
Total amount involved$0
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?No
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$139,314
Gifts, grants, contributions, and membership fees received$139,314
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$0
Gross receipts from activities that are not an unrelated trade or business under section 513$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$139,314
Public support$139,314
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$0
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
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Number of organizations performing similar types of work
District of Columbia1
New Hampshire1
New Jersey3
New Mexico1
New York14
Rhode Island1
South Carolina1
West Virginia1
Total109 is not associated with, endorsed by, or sponsored by Velocity Entreprenurial Drive and has no official or unofficial affiliation with Velocity Entreprenurial Drive