Mount Gilead Redevelopment Corporation in Mount Gilead, North Carolina (NC)

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Mount Gilead Redevelopment Corporation
Employer Identification Number (EIN)202821682
Name of OrganizationMount Gilead Redevelopment Corporation
In Care of NameBernice Price
AddressPo Box 32, Mount Gilead, NC 27306
SubsectionCharitable Organization, Educational Organization
Ruling Date03/2006
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 Period2013
Assets$0
Income$0
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$59,202
Amount of Income$30,971
Form 990 Revenue Amount$30,971
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Housing Development, Construction, Management


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Amount of income in 2013: $30,971 (it was $28,803 in 2013)
This organization: 

 $30,971
Other organizations performing similar types of work: 

 $141,278

Assets in 2013: $59,202 (it was $55,874 in 2013)
This organization: 

 $59,202
Other organizations performing similar types of work: 

 $740,093

Expenses in 2013: $32,431
Mount Gilead Redevelopment Corporation: 

 $32,431
Other organizations performing similar types of work: 

 $124,074

Income to expenses ratio in 2013: 1.0
Mount Gilead Redevelopment Corporation: 

 1.0
Other organizations performing similar types of work: 

 0.7

Grants share in income in 2013: 10.0%
Mount Gilead Redevelopment Corporation: 

 10.0%
Other organizations performing similar types of work: 

 3.7%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
Total revenue$29,371$30,971$28,803
Contributions, gifts, grants, and similar amounts received$1,100$3,450$2,888
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$23,908$22,541$20,835
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$4,363$4,980$5,080
Total expenses$34,339$35,170$32,431
Total net assets$61,981$57,782$54,154
Excess/Deficit for the year$-4,968$-4,199$-3,628
Net assets or fund balances at beginning of year$66,949$61,981$57,782
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$61,981$54,154
Balance Sheets
201120122013
Total assets$62,962$59,202$55,874
Total liabilities$981$1,420$1,720
Net assets or fund balances$61,981$57,782$54,154
Other Information
201120122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
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?NoNo
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?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
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$122,689
Subtotal$122,689
Gifts, grants, contributions, and membership fees received$122,689
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
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$146,766
Public support$122,689
Subtotal$24,077
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$24,077
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
1Vf Affordable Housing Inc448 Depot St Ne, Christiansbrg, VA 24073-2050VA2000-11$716,864
2Vine Street Manor Housing Corp2300 Flora, Kansas City, MO 64108MO2004-03$366,819
3Skill Creations IncPO BOX 1636, Goldsboro, NC 27533-1636NC2005-05$31,294,249
4Commons Of Forsyth County Inc750 Bethesda Rd, Winston Salem, NC 27103-3302NC2014-06$1,743,962
5Metropolitan Property ManagementPO BOX 1706, Washington, NC 27889NC2011-12$973,521
6You-Turn IncPO BOX 570, Troutman, NC 28166-0570NC2008-12$915,735
7St John Village Inc, St John Village Apts912 E Highland Ave, Kinston, NC 28501-3155NC2006-11$700,644
8Vhvh Inc750 Bethesda Rd, Winston Salem, NC 27103-3302NC2011-06$458,804
9Mountain Housing Opportunities Loan Fund IncPO BOX 2278, Asheville, NC 28802-2278NC2013-03$345,609
10Yancey Mitchell Pillars Inc305 Robertson St, Burnsville, NC 28714NC2009-08$147,557
11Southeast Durham Development CorporationPO BOX 3335, Durham, NC 27702-3335NC1993-07$146,144
12Youth Tradesmen Inc5512 Business Dr, Wilmington, NC 28405-8446NC2005-10$121,089
13Hunters Hill Inc750 Bethesda Rd, Winston Salem, NC 27103-3302NC2009-03$67,689
14Rutherford County Housing Initiative IncPo Box 286, Spindale, NC 28160NC2000-06$42,657
15Cape Fear Community Land Trust Inc, Erin E Diener TteePO BOX 12424, Wilmington, NC 28405-0119NC2009-08$38,377
16Mount Gilead Redevelopment CorporationPo Box 32, Mount Gilead, NC 27306NC2006-03$30,971
17Lexington Housing Redevelopment Corporation Inc1 Jamaica Dr, Lexington, NC 27292-2571NC2011-08$15,736
18Little Rock Cdc401 N Mcdowell St, Charlotte, NC 28202NC2007-08$10,790
192g5 Bridging The Gaps156 Springdale Dr, Troy, NC 27371-8370NC2007-12$0
20Alpha Gardens Community Development CorporationPO BOX 1162, Burgaw, NC 28425-1162NC2002-07$0
Number of organizations performing similar types of work
Alaska15
Alabama79
Arkansas52
Arizona71
California590
Colorado62
Connecticut70
District of Columbia39
Delaware21
Florida278
Georgia199
Hawaii37
Iowa49
Idaho18
Illinois189
Indiana97
Kansas30
Kentucky63
Louisiana165
Massachusetts149
Maryland116
Maine37
Michigan201
Minnesota80
Missouri91
Mississippi47
Montana28
North Carolina133
North Dakota11
Nebraska34
New Hampshire15
New Jersey159
New Mexico19
Nevada27
New York431
Ohio189
Oklahoma55
Oregon47
Pennsylvania186
Rhode Island30
South Carolina70
South Dakota22
Tennessee105
Texas313
Utah33
Virginia114
Vermont10
Washington71
Wisconsin64
West Virginia23
Wyoming10
International36
Total5,080

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