Western Economic Development Organization Inc in Waynesville, North Carolina (NC)
Table of contents:
| Western Economic Development Organization Inc | |
| Employer Identification Number (EIN) | 560953427 |
| Name of Organization | Western Economic Development Organization Inc |
| Address | 144 Industrial Park Dr Ste C, Waynesville, NC 28786-9708 |
| Activities | Business promotion (chamber of commerce, business league, etc.), Endowment fund or financial services, Loans or credit reporting |
| Subsection | Charitable Organization |
| Ruling Date | 05/1971 |
| 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 | 06/2014 |
| Assets | $1 to $9,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $9,873 |
| Amount of Income | $92,084 |
| Form 990 Revenue Amount | $92,084 |
| National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Economic Development |
Non-representatives - add comments:
Amount of income in 2014: $92,084 (it was $87,689 in 2013)
| This organization: | $92,084 |
| Other organizations performing similar types of work: | $219,690 |
Assets in 2014: $9,873 (it was $3,648 in 2013)
| Western Economic Development Organization Inc: | $9,873 |
| Other organizations performing similar types of work: | $475,649 |
Expenses in 2014: $86,290
| Western Economic Development Organization Inc: | $86,290 |
| Other organizations performing similar types of work: | $225,641 |
Income to expenses ratio in 2014: 1.1
| This organization: | 1.1 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2014: 95.2%
| Western Economic Development Organization Inc: | 95.2% |
| Other organizations performing similar types of work: | 35.8% |
Revenue for 2014
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| Total revenue | $87,578 | $87,689 | $87,689 | $92,084 |
| Contributions, gifts, grants, and similar amounts received | $87,578 | $87,689 | $87,689 | $87,689 |
| Program service revenue including government fees and contracts | $0 | $0 | $0 | $0 |
| 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 | $0 | $0 | $0 | $4,395 |
| Total expenses | $85,578 | $87,689 | $87,689 | $86,290 |
| Total net assets | $951 | $951 | $1,276 | $7,070 |
| Excess/Deficit for the year | $2,000 | $0 | $0 | $5,794 |
| Net assets or fund balances at beginning of year | $-1,049 | $951 | $951 | $1,276 |
| Other changes in net assets or fund balances | $0 | $0 | $325 | $0 |
| Net assets or fund balances at end of year | $951 | $1,276 | $7,070 | |
| Balance Sheets | ||||
| 2011 | 2012 | 2013 | 2014 | |
|---|---|---|---|---|
| Total assets | $4,411 | $3,274 | $3,648 | $9,873 |
| Total liabilities | $3,460 | $2,323 | $2,372 | $2,803 |
| Net assets or fund balances | $951 | $951 | $1,276 | $7,070 |
| 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 | No | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | No | |
| 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: | 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 2010 - 2014) | |
| 2010 - 2014 Total | |
|---|---|
| Public Support | $438,308 |
| Subtotal Support | $438,308 |
| Gifts, grants, contributions, and membership fees received | $438,308 |
| 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 | $442,703 |
| Public Support | $438,308 |
| 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 | $4,395 |
| 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 | University Heights Science And Technology Park Inc | 65 Bergen Street, Newark, NJ 07107-3001 | NJ | 1993-09 | $1,678,020 |
| 2 | Southeast Ark Economic Development Dist Inc | PO BOX 6806, Pine Bluff, AR 71611-6806 | AR | 1978-01 | $6,823,915 |
| 3 | Self-Help Community Development Corp | 301 W Main St, Durham, NC 27701-3215 | NC | 1996-12 | $3,666,008 |
| 4 | South Central Kansas Economic Development District Inc Sckedd | 200 W Douglas Ave Ste 710, Wichita, KS 67202-3075 | KS | 1974-01 | $2,989,393 |
| 5 | Superior California Economic Development Inc | 350 Hartnell Ave Ste A, Redding, CA 96002-1875 | CA | 1995-07 | $2,395,022 |
| 6 | Tacolcy Economic Development Corporation Inc | 675 Nw 56th St Ste C, Miami, FL 33127-1569 | FL | 1983-01 | $2,292,829 |
| 7 | Real Estate Council Foundation | 5430 Lbj Freeway, Dallas, TX 75240-2601 | TX | 1994-07 | $2,089,137 |
| 8 | Staten Island Economic Development Corporation | 900 South Ave Ste 402, Staten Island, NY 10314-3429 | NY | 1994-03 | $1,657,591 |
| 9 | Catawba County Economic Development Corporation | 1960b 13th Avenue Dr Se, Hickory, NC 28602-5186 | NC | 1983-10 | $858,114 |
| 10 | Coharie Intra Tribal Inc | 7531 N Us 421 Hwy, Clinton, NC 28328-7971 | NC | 1978-04 | $570,972 |
| 11 | Friends Of The Wake County Guardian Ad Litem Program | Po Box 4941, Cary, NC 27512 | NC | 1991-04 | $219,690 |
| 12 | Downtown Oxford Economic Development Corporation | Attn Julia Overton, Oxford, NC 27565 | NC | 1997-11 | $105,312 |
| 13 | Western Economic Development Organization Inc | 144 Industrial Park Dr Ste C, Waynesville, NC 28786-9708 | NC | 1971-05 | $92,084 |
| 14 | Region D Development Corporation Inc | 468 New Market Blvd, Boone, NC 28607-3943 | NC | 1993-09 | $25,838 |
| 15 | Franklin County Committee Of 100 | 112-D Wheaton Drive, Youngsville, NC 27596 | NC | 1995-05 | $17,348 |
| 16 | The Friends Of Carl Sandburg At Connemara Inc | PO BOX 16, Flat Rock, NC 28731-0016 | NC | 1990-11 | $16,055 |
| 17 | Haywood Advancement Foundation Inc | 28 Walnut St Ste 4, Waynesville, NC 28786-3246 | NC | 1994-11 | $14,270 |
| 18 | Olde Fayetteville Association Inc | PO BOX 926, Fayetteville, NC 28302-0926 | NC | 1981-06 | $0 |
| 19 | Rockingham Industrial Properties In C | PO BOX 205, Wentworth, NC 27375-0205 | NC | 1998-05 | $0 |
| 20 | Sister Cities Of Durham Inc | Po Box 767, Durham, NC 27701 | NC | 1989-09 | $0 |
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