Madison County Economic Development Council in Virginia City, Montana (MT)

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Madison County Economic Development Council
Employer Identification Number (EIN)300158854
Name of OrganizationMadison County Economic Development Council
In Care of NameDavid Schulz
AddressPO BOX 365, Virginia City, MT 59755-0365
SubsectionCharitable Organization
Ruling Date12/2003
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2014
Assets$1 to $9,999
Income$25,000 to $99,999
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$2,753
Amount of Income$29,749
Form 990 Revenue Amount$15,370
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Promotion of Business


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Amount of income in 2014: $29,749 (it was $72,025 in 2013)
Madison County Economic Development Council: 

 $29,749
Other organizations performing similar types of work: 

 $88,861

Assets in 2014: $2,753 (it was $13,001 in 2013)
Madison County Economic Development Council: 

 $2,753
Other organizations performing similar types of work: 

 $51,691

Expenses in 2013: $63,590
This organization: 

 $63,590
Other organizations performing similar types of work: 

 $80,127

Income to expenses ratio in 2013: 0.5
This organization: 

 0.5
Other organizations performing similar types of work: 

 0.8

Grants share in income in 2013: 74.9%
Madison County Economic Development Council: 

 74.9%
Other organizations performing similar types of work: 

 1.0%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2010201120122013
Total revenue$60,034$61,694$62,172$72,025
Contributions, gifts, grants, and similar amounts received$20,000$20,000$28,760$53,913
Program service revenue including government fees and contracts$34,833$39,050$30,000$18,500
Membership dues and assessments$0$0$0$0
Investment income$66$13$0$0
Gain/Loss from sale of assets other than inventory$0$0$0$0
Net income/loss from gaming and fundraising events$5,135$2,631$3,412$-388
Gross income from gaming$0$0$0$0
Gross income from fundraising events$7,080$11,065$18,767$15,277
Less: direct expenses from gaming and fundraising events$1,945$8,434$15,355$15,665
Gross profit/loss from sales of inventory$0$0$0$0
Other revenue$0$0$0$0
Total expenses$66,432$60,737$70,512$63,590
Total net assets$10,849$11,806$3,466$11,901
Excess/Deficit for the year$-6,398$957$-8,340$8,435
Net assets or fund balances at beginning of year$21,763$10,849$11,806$3,466
Other changes in net assets or fund balances$-4,516$0$0$0
Net assets or fund balances at end of year$10,849$3,466$11,901
Balance Sheets
2010201120122013
Total assets$12,013$13,405$5,038$13,001
Total liabilities$1,164$1,599$1,572$1,100
Net assets or fund balances$10,849$11,806$3,466$11,901
Other Information
2010201120122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNoNo
Were any significant changes made to the organizing or governing documents?NoNoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNoNo
Has the organization filed a Form 990-T for the year?NoNoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNoNo
Amount of political expenditures, direct or indirect$0$0$0
Did the organization file Form 1120-POL for this year?NoNoNo
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?NoNoNo
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?NoNoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNoNo
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$451,320
Subtotal$451,320
Gifts, grants, contributions, and membership fees received$187,673
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$263,647
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
Less$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$451,481
Public support$451,320
Subtotal$161
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$161
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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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Retail Merchant Assn Of Tidewater Va Inc, Ta Retail Alliance838 Granby St, Norfolk, VA 23510-2051VA2008-09$17,149,516
2San Joaquin Valley Winegrowers Association7030 N Fruit Avenue, Fresno, CA 93711-0782CA2008-11$175,202
3441 Heritage Corridor Inc300 North Thomas Street, Athens, GA 30601GA2000-07$56,377
4Montanas Custer CountryPO BOX 31177, Billings, MT 59107-1177MT2011-08$583,955
5Whitefish Convention And Visitorbureau IncPO BOX 4232, Whitefish, MT 59937-4232MT2006-06$521,689
6West Yellowstone Tourist Business Improvement District IncPO BOX 1633, W Yellowstone, MT 59758-1633MT2014-03$278,570
7Great Falls Convention And Visitors Bureau, Great Falls Cvb15 Overlook Dr, Great Falls, MT 59405-4178MT2008-05$225,888
8Missoula Economic Partnership, John Engen Gen Ptr2501 S Catlin St Ste 205, Missoula, MT 59801-7815MT2012-02$170,012
9Society Of Pelvic Reconstructivesurgeons Inc307 Vlanchard Hollow, Whitefish, MT 59937MT2009-06$164,649
10Cut Bank Area Chamber Of Commerce118 East Main, Cut Bank, MT 59427-2956MT2007-03$130,503
11Whitehall Chamber Of CommercePo Box 72, Whitehall, MT 59759-0072MT2001-02$99,319
12Montana Red Angus Association Incorporated93 Redland Ranch Ln, Hysham, MT 59038-9415MT2009-11$84,308
13Pegasus Fixed Base Operators1940 Airport Ct, Great Falls, MT 59404-5542MT2011-07$81,977
14Ultrasound Guidelines CouncilPO BOX 5097, Bozeman, MT 59717-5097MT2002-03$79,725
15Baker Chamber Of Commerce & Agriculture IncPo Box 849, Baker, MT 59313MT2010-03$72,068
16Sheridan County Chamber Of Commerce And AgriculturePO BOX 104, Plentywood, MT 59254-0104MT1999-11$71,960
17The Stillwater County Chamber Of CommercePo Box 783, Columbus, MT 59019MT2004-04$69,999
18Evergreen Chamber Of CommercePO BOX 5604, Kalispell, MT 59903-5604MT2014-09$48,426
19Chinook Area Chamber Of CommercePo Box 744, Chinook, MT 59523MT2008-10$43,687
20Montana Beverage AssociationPO BOX 4182, Helena, MT 59604-4182MT2009-09$35,529
Number of organizations performing similar types of work
Alaska94
Alabama235
Arkansas185
Arizona346
California1,926
Colorado437
Connecticut191
District of Columbia411
Delaware63
Florida987
Georgia500
Hawaii127
Iowa226
Idaho137
Illinois781
Indiana331
Kansas211
Kentucky222
Louisiana232
Massachusetts358
Maryland360
Maine108
Michigan504
Minnesota341
Missouri377
Mississippi119
Montana114
North Carolina452
North Dakota65
Nebraska146
New Hampshire92
New Jersey401
New Mexico156
Nevada171
New York967
Ohio640
Oklahoma208
Oregon366
Pennsylvania679
Rhode Island73
South Carolina192
South Dakota91
Tennessee282
Texas1,208
Utah166
Virginia613
Vermont69
Washington451
Wisconsin359
West Virginia109
Wyoming44
International34
Total17,957

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