Alton Economic Development Corporation in Alton, Iowa (IA)
Table of contents:
| Alton Economic Development Corporation | |
| Employer Identification Number (EIN) | 421523453 |
| Name of Organization | Alton Economic Development Corporation |
| Address | 905 3rd Ave, Alton, IA 51003-7738 |
| Subsection | Charitable Organization |
| Ruling Date | 05/2011 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2014 |
| Assets | $100,000 to $499,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $435,308 |
| Amount of Income | $50,897 |
| Form 990 Revenue Amount | $50,897 |
| National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Urban, Community Economic Development |
Non-representatives - add comments:
Amount of income in 2014: $50,897 (it was $71,539 in 2013)
| This organization: | $50,897 |
| Other organizations performing similar types of work: | $141,217 |
Assets in 2014: $435,308 (it was $429,014 in 2013)
| This organization: | $435,308 |
| Other organizations performing similar types of work: | $121,026 |
Expenses in 2013: $59,833
| This organization: | $59,833 |
| Other organizations performing similar types of work: | $118,087 |
Income to expenses ratio in 2013: 0.9
| Alton Economic Development Corporation: | 0.9 |
| Other organizations performing similar types of work: | 1.6 |
Grants share in income in 2013: 5.6%
| Alton Economic Development Corporation: | 5.6% |
| Other organizations performing similar types of work: | 87.4% |
Revenue for 2013
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $142,000 | $29,860 | $71,539 |
| Contributions, gifts, grants, and similar amounts received | $0 | $110 | $4,039 |
| Program service revenue including government fees and contracts | $142,000 | $29,750 | $67,500 |
| Membership dues and assessments | $0 | $0 | $0 |
| Investment income | $0 | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 |
| Other revenue | $0 | $0 | $0 |
| Total expenses | $144,296 | $33,410 | $59,833 |
| Total net assets | $410,858 | $407,309 | $419,014 |
| Excess/Deficit for the year | $-2,296 | $-3,550 | $11,706 |
| Net assets or fund balances at beginning of year | $413,154 | $410,859 | $407,308 |
| Other changes in net assets or fund balances | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $407,309 | $419,014 | |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $481,484 | $447,493 | $429,014 |
| Total liabilities | $70,626 | $40,184 | $10,000 |
| Net assets or fund balances | $410,858 | $407,309 | $419,014 |
| Other Information | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | |
| Were any significant changes made to the organizing or governing documents? | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | No | 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 | No | |
| Total amount involved | $0 | $0 | |
| Initiation fees and capital contributions | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 | $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 | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi) |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public Support | $427,064 |
| Subtotal Support | $427,064 |
| Gifts, grants, contributions, and membership fees received | $427,064 |
| 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 |
| The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support | $0 |
| Total Support | $427,064 |
| Public Support | $427,064 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income. Do not include gain or loss from the sale of capital assets | $0 |
| Gross receipts from related activities, etc. | $67,500 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Ventura County Community Development Corporation | 2231 Sturgis Rd Unit A, Oxnard, CA 93030-7813 | CA | 2003-05 | $5,683,551 |
| 2 | The Center Of Workforce Innovations Inc | 2804 Boilermaker Ct Ste E, Valparaiso, IN 46383-8418 | IN | 2000-06 | $8,642,806 |
| 3 | Black Hawk County Gaming Assoc | 229 E Park Ave, Waterloo, IA 50703-4621 | IA | 2004-11 | $4,961,683 |
| 4 | Ocdc Inc | 121 Albany Ave Ne, Orange City, IA 51041 | IA | 2008-04 | $2,618,002 |
| 5 | Cedar Rapids City Market Inc, Newbo City Market | Po Box 667, Cedar Rapids, IA 52406-0667 | IA | 2010-08 | $550,303 |
| 6 | Iowa Progress Project | 6750 Westown Pkwy Ste 200-158, Wdm, IA 50266-7723 | IA | 2008-09 | $294,000 |
| 7 | Lee County Economic Development Group Inc | 2700 Kindustry Park Rd, Keokuk, IA 52632-9705 | IA | 2003-05 | $217,217 |
| 8 | Bedford Area Economic Development Corp | 601 Madison St, Bedford, IA 50833-1214 | IA | 1996-03 | $137,675 |
| 9 | 6th Avenue Corridor | PO BOX 8225, Des Moines, IA 50301-8225 | IA | 2010-06 | $85,458 |
| 10 | Friends Of Historic Downtown West Branch | PO BOX 786, West Branch, IA 52358-0786 | IA | 2005-10 | $81,606 |
| 11 | Emmetsburg Community Developmentcorporation | 2101 10th St, Emmetsburg, IA 50536-2411 | IA | 2008-11 | $62,893 |
| 12 | Alton Economic Development Corporation | 905 3rd Ave, Alton, IA 51003-7738 | IA | 2011-05 | $50,897 |
| 13 | Maharishi Vedic City Development Foundation | 1750 Maharishi Center Ave, Vedic City, IA 52556-9123 | IA | 2014-03 | $13,192 |
| 14 | Marcus For Progress Inc | 111 S Oak St, Marcus, IA 51035 | IA | 1998-10 | $11,966 |
| 15 | Absolutely Indee | 2349 Jamestown Ave Suite 4b, Independence, IA 50644 | IA | 2014-06 | $0 |
| 16 | Community Legacy Mattersincorporated | 3824 Lincoln Place Dr, Des Moines, IA 50312-3016 | IA | 2012-03 | $0 |
| 17 | Keokuk Economic Development Corporation | 501 Main Street, Keokuk, IA 52632 | IA | 1999-04 | $0 |
| 18 | Life Microlending | 129 9th St, Columbus Junction, IA 52738 | IA | 2011-06 | $0 |
| 19 | Southside Investment Board | 1821 Grand Ave Se, Cedar Rapids, IA 52403 | IA | 2010-05 | $0 |
| 20 | Urbana Area Development Corporation | PO BOX 248, Urbana, IA 52345-0248 | IA | 2001-01 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 1,538 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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