Galva Economic Development Corporation in Galva, Iowa (IA)
Table of contents:
| Galva Economic Development Corporation | |
| Employer Identification Number (EIN) | 421506393 |
| Name of Organization | Galva Economic Development Corporation |
| In Care of Name | ALAN BENNETT |
| Address | 1681 Market Ave, Galva, IA 51020 |
| Subsection | Charitable Organization |
| Ruling Date | 04/2005 |
| 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 | 2014 |
| Assets | $0 |
| Income | $0 |
| Filing Requirement | 990 - Required to file Form 990-N - Income less than $25,000 per year |
| Asset Amount | $29,119 |
| Amount of Income | $49,102 |
| Form 990 Revenue Amount | $49,102 |
| National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Economic Development |
Non-representatives - add comments:
Amount of income in 2014: $49,102 (it was $0 in 2012)
| Galva Economic Development Corporation: | $49,102 |
| Other organizations performing similar types of work: | $135,279 |
Assets in 2014: $29,119 (it was $0 in 2012)
| Galva Economic Development Corporation: | $29,119 |
| Other organizations performing similar types of work: | $114,906 |
Expenses in 2011: $51,188
| Galva Economic Development Corporation: | $51,188 |
| Other organizations performing similar types of work: | $121,073 |
Income to expenses ratio in 2011: 1.0
| This organization: | 1.0 |
| Other organizations performing similar types of work: | 1.4 |
Grants share in income in 2011: 89.3%
| This organization: | 89.3% |
| Other organizations performing similar types of work: | 8.8% |
Revenue for 2011
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances (for 2011) | |
| Total revenue | $49,102 |
| Contributions, gifts, grants, and similar amounts received | $43,857 |
| Program service revenue including government fees and contracts | $0 |
| Membership dues and assessments | $0 |
| Investment income | $60 |
| Gain from sale of assets other than inventory | $0 |
| Gross amount from sale of assets other than inventory | $11,400 |
| Less: cost or other basis and sales expenses | $11,400 |
| Net income from gaming and fundraising events | $2,257 |
| Gross income from gaming | $0 |
| Gross income from fundraising events | $3,371 |
| Less: direct expenses from gaming and fundraising events | $1,114 |
| Gross profit from sales of inventory | $0 |
| Other revenue | $2,928 |
| Total expenses | $51,188 |
| Total net assets | $9,119 |
| Deficit for the year | $-2,086 |
| Net assets or fund balances at beginning of year | $11,205 |
| Other changes in net assets or fund balances | $0 |
| Balance Sheets (for 2011) | |
| Total assets | $29,119 |
| Total liabilities | $20,000 |
| Net assets or fund balances | $9,119 |
| Other Information (for 2011) | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No |
| Initiation fees and capital contributions | $0 |
| Gross receipts for public use of club facilities | $0 |
| Reason for Public Charity Status (for 2011) | |
| 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) |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011) | |
| 2007 - 2011 Total | |
|---|---|
| Total Support | $45,584 |
| Gifts, grants, contributions, and membership fees received | $45,519 |
| 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 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $65 |
| Gross receipts from related activities, etc. | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | West River Foundation For Economic And Community Development | PO BOX 605, Sturgis, SD 57785-0605 | SD | 2000-10 | $1,093,865 |
| 2 | Vocational Development Center Inc | 612 S Main St, Council Blfs, IA 51503-6509 | IA | 1968-09 | $10,713,154 |
| 3 | Waterloo Development Corporation | 10 W 4th St Ste 310, Waterloo, IA 50701-5428 | IA | 2000-09 | $3,851,397 |
| 4 | Altoona Economic Development Corporation | 200 1st Ave S, Altoona, IA 50009-1704 | IA | 2010-10 | $651,587 |
| 5 | Technology Association Of Iowa Educational Foundation | Capitol Center Ii 500 East Court, Des Moines, IA 50309 | IA | 2008-05 | $225,880 |
| 6 | Moulton Economic Development Association Inc | Po Box 52, Moulton, IA 52572 | IA | 2011-07 | $166,432 |
| 7 | Hope Community Development Association Inc | 5925 Council Street Ne Suite 130, Cedar Rapids, IA 52402 | IA | 2011-11 | $154,895 |
| 8 | Shelby County Developsource | 1901 Hawkeye Ave Ste 101, Harlan, IA 51537-2425 | IA | 2002-03 | $122,752 |
| 9 | Northwest Iowa Economic Development Corporation | PO BOX 126, Sibley, IA 51249-0126 | IA | 2011-02 | $113,609 |
| 10 | Main Street Washington Inc | 205 W Main St, Washington, IA 52353-1722 | IA | 2013-03 | $97,577 |
| 11 | We Lead | 112 E 3rd St, West Liberty, IA 52776-1402 | IA | 2007-10 | $97,279 |
| 12 | Corning Community School Education Foundation | 904 8th St, Corning, IA 50841-1412 | IA | 2014-02 | $90,614 |
| 13 | Riverloop Association Inc | 225 Commercial St, Waterloo, IA 50701-1313 | IA | 2014-07 | $80,459 |
| 14 | Ogden Legacy | 513 W Walnut St, Ogden, IA 50212-7708 | IA | 2014-03 | $70,979 |
| 15 | Galva Economic Development Corporation | 1681 Market Ave, Galva, IA 51020 | IA | 2005-04 | $49,102 |
| 16 | Keokuk Vision | 501 Main Street, Keokuk, IA 52632 | IA | 2009-07 | $28,111 |
| 17 | Holstein Development Authority | PO BOX 500, Holstein, IA 51025-0500 | IA | 2015-01 | $4,000 |
| 18 | Riada Inc | 306 Audubon St, Adair, IA 50002 | IA | 2000-02 | $3,299 |
| 19 | Asbury Area Development Corporation | 5080 Asbury Road, Asbury, IA 52002 | IA | 1999-11 | $0 |
| 20 | Avoca Betterment Association | 201 N Elm St, Avoca, IA 51521-3507 | IA | 2014-11 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 3,253 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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