Bassett Development Corporation in Bassett, Nebraska (NE)

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Bassett Development Corporation
Employer Identification Number (EIN)481266296
Name of OrganizationBassett Development Corporation
In Care of NameDavid Gale
AddressPO BOX 548, Bassett, NE 68714-0548
SubsectionCharitable Organization
Ruling Date09/2006
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 Period12/2013
Assets$1 to $9,999
Income$10,000 to $24,999
Filing Requirement990 - 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


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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%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2010201120122013
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
2010201120122013
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
2010201120122013
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 activitiesYesYesYesNo
Has the organization filed a Form 990-T for the year?YesNo
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$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?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$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
IdNameAddressStateEstablishedTotal Income
1West River Foundation For Economic And Community DevelopmentPO BOX 605, Sturgis, SD 57785-0605SD2000-10$1,093,865
2West Central Nebraska Dev District333 E 2nd St, Ogallala, NE 69153-2630NE2000-01$412,988
3South Central Economic Development District Inc, SceddPO BOX 79, Holdrege, NE 68949-0079NE2007-04$304,783
4Sherman County Economic Development IncPO BOX 428, Loup City, NE 68853-0428NE2010-06$111,098
5Nebraska Main Street Network IncPO BOX 6808, Lincoln, NE 68506-0808NE2014-01$95,314
6Nebraska Junk Jaunt801 S Street, Ord, NE 68862NE2010-11$60,817
7Cowboy Grit Inc36388 Ford Rd, Cody, NE 69211NE2012-08$60,100
8Union United IncPO BOX 61, Union, NE 68455-0061NE2010-08$4,991
9Joy Street Ministries12711 South 81st Ave, Papillion, NE 68046NE2005-03$307
10Central Nebraska Growth Foundation233 S 13th St Ste 1900, Lincoln, NE 68508-2000NE2014-09$0
11Cuming County Economic Development IncPO BOX 17, West Point, NE 68788-0017NE2014-05$0
12Family Sake IncPO BOX 111473, Omaha, NE 68111-5473NE2013-04$0
13Farnam Economic Development Corporation1120 Main St, Farnam, NE 69029NE2005-02$0
14Great Growing Regional Economic Activity Today123 South 8th Street Suite 7, Nebraska City, NE 68410NE2014-11$0
15H C S Development CorporationPO BOX 409, Sutton, NE 68979-0409NE2004-08$0
16Howells Community Club IncPo Box 143, Howells, NE 68641NE2014-11$0
17Lower Republican River Visionaries605 N Webster St, Red Cloud, NE 68970-2423NE2003-07$0
18Midwest Economic Development Corporation978 S 110th Plz, Omaha, NE 68154-3372NE2010-06$0
19Nebraska Business-Higher Education Forum Inc1230 Fall Creek Rd, Lincoln, NE 68510NE2002-05$0
20Nebraska Military Support CoalitionKiewit Plz, Omaha, NE 68131-3311NE2010-04$0
Number of organizations performing similar types of work
Alaska23
Alabama64
Arkansas29
Arizona41
California299
Colorado47
Connecticut39
District of Columbia35
Delaware8
Florida134
Georgia71
Hawaii27
Iowa63
Idaho15
Illinois108
Indiana79
Kansas46
Kentucky50
Louisiana73
Massachusetts46
Maryland54
Maine37
Michigan101
Minnesota55
Missouri99
Mississippi38
Montana36
North Carolina125
North Dakota13
Nebraska37
New Hampshire25
New Jersey61
New Mexico41
Nevada16
New York213
Ohio149
Oklahoma39
Oregon51
Pennsylvania173
Rhode Island6
South Carolina63
South Dakota34
Tennessee56
Texas168
Utah17
Virginia62
Vermont16
Washington47
Wisconsin61
West Virginia39
Wyoming14
International10
Total3,253

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