Bassett Development Corporation in Bassett, Nebraska (NE)
Table of contents:
| Bassett Development Corporation | |
| Employer Identification Number (EIN) | 481266296 |
| Name of Organization | Bassett Development Corporation |
| In Care of Name | David Gale |
| Address | PO BOX 548, Bassett, NE 68714-0548 |
| Subsection | Charitable Organization |
| Ruling Date | 09/2006 |
| 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 | 12/2013 |
| Assets | $1 to $9,999 |
| Income | $10,000 to $24,999 |
| Filing Requirement | 990 - Required to file Form 990-N - Income less than $25,000 per year |
| Asset Amount | $5,243 |
| Amount of Income | $10,516 |
| Form 990 Revenue Amount | $4,081 |
| National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Economic Development |
Non-representatives - add comments:
Amount of income in 2013: $10,516 (it was $94,592 in 2012)
| This organization: | $10,516 |
| Other organizations performing similar types of work: | $135,279 |
Assets in 2013: $5,243 (it was $2,134 in 2012)
| Bassett Development Corporation: | $5,243 |
| Other organizations performing similar types of work: | $114,906 |
Expenses in 2013: $972
| This organization: | $972 |
| Other organizations performing similar types of work: | $121,073 |
Income to expenses ratio in 2013: 10.8
| This organization: | 10.8 |
| Other organizations performing similar types of work: | 1.4 |
Grants share in income in 2013: 38.8%
| Bassett Development Corporation: | 38.8% |
| Other organizations performing similar types of work: | 8.8% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||||
| 2010 | 2011 | 2012 | 2013 | |
|---|---|---|---|---|
| Total revenue | $13,903 | $21,474 | $-268,151 | $4,081 |
| Contributions, gifts, grants, and similar amounts received | $4,000 | $10,000 | $65,369 | $1,584 |
| 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 | $-336,022 | $0 |
| Net income/loss from gaming and fundraising events | $9,898 | $5,129 | $2,499 | $2,495 |
| Gross income from gaming | $0 | $0 | $0 | $0 |
| Gross income from fundraising events | $10,020 | $11,250 | $9,220 | $8,930 |
| Less: direct expenses from gaming and fundraising events | $122 | $6,121 | $6,721 | $6,435 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 | $0 |
| Other revenue | $5 | $6,345 | $3 | $2 |
| Total expenses | $16,086 | $14,566 | $23,737 | $972 |
| Total net assets | $364,944 | $367,545 | $2,134 | $5,243 |
| Excess/Deficit for the year | $-2,183 | $6,908 | $-291,888 | $3,109 |
| Net assets or fund balances at beginning of year | $367,127 | $364,944 | $367,545 | $2,134 |
| Other changes in net assets or fund balances | $0 | $-4,307 | $-73,523 | $0 |
| Net assets or fund balances at end of year | $2,134 | $5,243 | ||
| Balance Sheets | ||||
| 2010 | 2011 | 2012 | 2013 | |
|---|---|---|---|---|
| Total assets | $429,944 | $432,545 | $2,134 | $5,243 |
| Total liabilities | $65,000 | $65,000 | $0 | $0 |
| Net assets or fund balances | $364,944 | $367,545 | $2,134 | $5,243 |
| Other Information | ||||
| 2010 | 2011 | 2012 | 2013 | |
|---|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | ||
| Were any significant changes made to the organizing or governing documents? | No | No | ||
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | Yes | Yes | Yes | No |
| Has the organization filed a Form 990-T for the year? | Yes | No | ||
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | ||
| Amount of political expenditures, direct or indirect | $0 | $0 | ||
| Did the organization file Form 1120-POL for this year? | 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 | ||
| Total amount involved | $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 | ||
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | ||
| 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 supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $114,258 |
| Subtotal | $114,258 |
| Gifts, grants, contributions, and membership fees received | $82,112 |
| 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 | $32,146 |
| 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 | $47,488 |
| Public support | $114,258 |
| Subtotal | $13 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $13 |
| 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 | $-91,070 |
| Other income | $24,287 |
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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 | West Central Nebraska Dev District | 333 E 2nd St, Ogallala, NE 69153-2630 | NE | 2000-01 | $412,988 |
| 3 | South Central Economic Development District Inc, Scedd | PO BOX 79, Holdrege, NE 68949-0079 | NE | 2007-04 | $304,783 |
| 4 | Sherman County Economic Development Inc | PO BOX 428, Loup City, NE 68853-0428 | NE | 2010-06 | $111,098 |
| 5 | Nebraska Main Street Network Inc | PO BOX 6808, Lincoln, NE 68506-0808 | NE | 2014-01 | $95,314 |
| 6 | Nebraska Junk Jaunt | 801 S Street, Ord, NE 68862 | NE | 2010-11 | $60,817 |
| 7 | Cowboy Grit Inc | 36388 Ford Rd, Cody, NE 69211 | NE | 2012-08 | $60,100 |
| 8 | Union United Inc | PO BOX 61, Union, NE 68455-0061 | NE | 2010-08 | $4,991 |
| 9 | Joy Street Ministries | 12711 South 81st Ave, Papillion, NE 68046 | NE | 2005-03 | $307 |
| 10 | Central Nebraska Growth Foundation | 233 S 13th St Ste 1900, Lincoln, NE 68508-2000 | NE | 2014-09 | $0 |
| 11 | Cuming County Economic Development Inc | PO BOX 17, West Point, NE 68788-0017 | NE | 2014-05 | $0 |
| 12 | Family Sake Inc | PO BOX 111473, Omaha, NE 68111-5473 | NE | 2013-04 | $0 |
| 13 | Farnam Economic Development Corporation | 1120 Main St, Farnam, NE 69029 | NE | 2005-02 | $0 |
| 14 | Great Growing Regional Economic Activity Today | 123 South 8th Street Suite 7, Nebraska City, NE 68410 | NE | 2014-11 | $0 |
| 15 | H C S Development Corporation | PO BOX 409, Sutton, NE 68979-0409 | NE | 2004-08 | $0 |
| 16 | Howells Community Club Inc | Po Box 143, Howells, NE 68641 | NE | 2014-11 | $0 |
| 17 | Lower Republican River Visionaries | 605 N Webster St, Red Cloud, NE 68970-2423 | NE | 2003-07 | $0 |
| 18 | Midwest Economic Development Corporation | 978 S 110th Plz, Omaha, NE 68154-3372 | NE | 2010-06 | $0 |
| 19 | Nebraska Business-Higher Education Forum Inc | 1230 Fall Creek Rd, Lincoln, NE 68510 | NE | 2002-05 | $0 |
| 20 | Nebraska Military Support Coalition | Kiewit Plz, Omaha, NE 68131-3311 | NE | 2010-04 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 3,253 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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