Downtown Morehead Inc, Morehead Tomorrow in Morehead, Kentucky (KY)
Table of contents:
| Downtown Morehead Inc, Morehead Tomorrow | |
| Employer Identification Number (EIN) | 611353599 |
| Name of Organization | Downtown Morehead Inc |
| Secondary Name | Morehead Tomorrow |
| In Care of Name | Randall Wells |
| Address | 111 E Main St, Morehead, KY 40351 |
| Subsection | Social Welfare Organization |
| Ruling Date | 03/2000 |
| Deductibility | Contributions are not deductible |
| Foundation | All organizations except 501(c)(3) |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 06/2014 |
| Assets | $100,000 to $499,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $148,422 |
| Amount of Income | $92,003 |
| Form 990 Revenue Amount | $92,003 |
| National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Economic Development |
Non-representatives - add comments:
Amount of income in 2014: $92,003 (it was $39,451 in 2013)
| This organization: | $92,003 |
| Other organizations performing similar types of work: | $135,279 |
Assets in 2014: $148,422 (it was $110,935 in 2013)
| This organization: | $148,422 |
| Other organizations performing similar types of work: | $114,906 |
Expenses in 2014: $54,516
| Downtown Morehead Inc, Morehead Tomorrow: | $54,516 |
| Other organizations performing similar types of work: | $121,073 |
Income to expenses ratio in 2014: 1.7
| This organization: | 1.7 |
| Other organizations performing similar types of work: | 1.4 |
Grants share in income in 2014: 13.9%
| This organization: | 13.9% |
| Other organizations performing similar types of work: | 8.8% |
Revenue for 2014
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| Total revenue | $52,140 | $70,757 | $39,451 | $92,003 |
| Contributions, gifts, grants, and similar amounts received | $27,500 | $27,615 | $0 | $12,791 |
| Program service revenue including government fees and contracts | $22,148 | $18,836 | $18,804 | $12,500 |
| Membership dues and assessments | $0 | $0 | $0 | $0 |
| Investment income | $0 | $0 | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 | $0 |
| Other revenue | $2,492 | $24,306 | $20,647 | $66,712 |
| Total expenses | $65,637 | $69,932 | $42,257 | $54,516 |
| Total net assets | $38,402 | $39,227 | $36,421 | $148,422 |
| Excess/Deficit for the year | $-13,497 | $825 | $-2,806 | $37,487 |
| Net assets or fund balances at beginning of year | $51,899 | $38,402 | $39,227 | $110,935 |
| Other changes in net assets or fund balances | $0 | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $39,227 | $36,421 | $148,422 | |
| Balance Sheets | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| Total assets | $120,623 | $117,870 | $110,935 | $148,422 |
| Total liabilities | $82,221 | $78,643 | $74,514 | $0 |
| Net assets or fund balances | $38,402 | $39,227 | $36,421 | $148,422 |
| Other Information | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | No | |
| Were any significant changes made to the organizing or governing documents? | No | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | Yes | Yes | Yes | Yes |
| Has the organization filed a Form 990-T for the year? | Yes | Yes | Yes | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | No | 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 | No | |
| Total amount involved | $0 | $0 | $0 | |
| Initiation fees and capital contributions | $0 | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $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 | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | No | |
| Reason for Public Charity Status (for 2014) | |
| The organization is not a private foundation because it is: | Not provided |
| Number of organizations supported | 0 |
| Sum of amounts of support | $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 | The Center For Kentucky Rural Economic Development Inc | 2292 S Highway 27 Ste 300, Somerset, KY 42501-2905 | KY | 1996-03 | $5,651,161 |
| 3 | Southern & Eastern Kentucky Tourism Development Association Inc | 2292 S, Somerset, KY 42501 | KY | 2002-05 | $463,223 |
| 4 | Lexenomics Group | 2620 Braden Way, Lexington, KY 40509-8571 | KY | 2014-01 | $387,036 |
| 5 | South Bank Partners Inc | 425 York St, Newport, KY 41071-1639 | KY | 1998-08 | $316,211 |
| 6 | Xleratehealth Non-Profit Inc | 201 East Jefferson Street, Louisville, KY 40202-1246 | KY | 2014-07 | $146,000 |
| 7 | Minority Economic Development Initiative Of Western Kentucky Inc, Medi-Wk | 521 Weber St, Hopkinsville, KY 42240-2323 | KY | 2009-12 | $87,041 |
| 8 | Taylorsville Main St 501 C, Taylorsville Main Street 501c | Po Box 506, Taylorsville, KY 40071 | KY | 2010-10 | $12,915 |
| 9 | Third St Developement Corp Inc | 304 S 4th St, Danville, KY 40422-2081 | KY | 2004-04 | $10,050 |
| 10 | Buffalo Trace Area Development District Inc | Po Box 460, Maysville, KY 41056 | KY | 1997-02 | $0 |
| 11 | Burnside Tourist And Recreation Commission | PO BOX 8, Burnside, KY 42519-0008 | KY | 2007-02 | $0 |
| 12 | Downtown Beattyville Alliance Incorporated | Po Box 307, Beattyville, KY 41311 | KY | 2007-03 | $0 |
| 13 | East Kentucky Community Action Partnership Inc | Po Box 490, Barbourville, KY 40906 | KY | 2012-05 | $0 |
| 14 | East Kentucky Leadership Foundation Inc | PO BOX 783, Hindman, KY 41822-0783 | KY | 2010-11 | $0 |
| 15 | Elliott County Heritage & Tourism Council Inc | Po Box 653, Sandy Hook, KY 41171 | KY | 2014-05 | $0 |
| 16 | Harlan County Industries Inc | 112 Railroad St, Harlan, KY 40831-2361 | KY | 1998-04 | $0 |
| 17 | Harlan County Outdoor Recreation Board Authority Inc | 201 S Main St, Harlan, KY 40831-2111 | KY | 2010-01 | $0 |
| 18 | Hopewell Community Development Corporation | 9609 Hudson Ln, Louisville, KY 40291-1158 | KY | 2008-12 | $0 |
| 19 | Kyndle Industrial Foundation Inc | 145 N Main Street - Suite 500, Henderson, KY 42420-3155 | KY | 2015-03 | $0 |
| 20 | Limestone Economic Development Inc | P O Box 614, Maysville, KY 41056-0614 | KY | 2000-02 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 3,253 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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