Main Street Mathews Inc in Mathews, Virginia (VA)

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Main Street Mathews Inc
Employer Identification Number (EIN)542026358
Name of OrganizationMain Street Mathews Inc
In Care of NameRobert A May
Address1030 Pine Hall Rd, Mathews, VA 23109-2213
SubsectionCharitable Organization
Ruling Date08/2001
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$25,000 to $99,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$48,754
Amount of Income$103,819
Form 990 Revenue Amount$103,819
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Economic Development

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Amount of income in 2013: $103,819 (it was $147,352 in 2012)
This organization: 

Other organizations performing similar types of work: 


Assets in 2013: $48,754 (it was $80,648 in 2012)
This organization: 

Other organizations performing similar types of work: 


Expenses in 2013: $135,213
Main Street Mathews Inc: 

Other organizations performing similar types of work: 


Income to expenses ratio in 2013: 0.8
This organization: 

Other organizations performing similar types of work: 


Grants share in income in 2013: 98.0%
This organization: 

Other organizations performing similar types of work: 


Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue$35,260$132,940$103,819
Contributions, gifts, grants, and similar amounts received$32,938$107,013$101,776
Program service revenue including government fees and contracts$1,827$1,540$1,927
Membership dues and assessments$0$0$0
Investment income$495$0$116
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$0$24,125$0
Gross profit/loss from sales of inventory$0$0$0
Other revenue$0$262$0
Total expenses$38,135$136,729$135,213
Total net assets$83,937$80,148$48,754
Excess/Deficit for the year$-2,875$-3,789$-31,394
Net assets or fund balances at beginning of year$86,812$83,937$80,148
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$80,148$48,754
Balance Sheets
Total assets$83,937$80,648$48,754
Total liabilities$0$500$0
Net assets or fund balances$83,937$80,148$48,754
Other Information
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$380,392
Gifts, grants, contributions, and membership fees received$343,549
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$36,843
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
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$387,665
Public support$380,392
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$7,273
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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IdNameAddressStateEstablishedTotal Income
1West River Foundation For Economic And Community DevelopmentPO BOX 605, Sturgis, SD 57785-0605SD2000-10$1,093,865
2West Piedmont Workforce Investment Board300 Franklin St Ste 241, Martinsville, VA 24112-2176VA2003-03$2,896,810
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9Community Investment CollaborativePO BOX 2976, Charlottesvle, VA 22902-2976VA2012-06$350,043
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13Hopewell Downtown Partnership Inc205 1/2 E Broadway Ave Ste 1, Hopewell, VA 23860VA2010-09$72,500
14Shenandoah Valley Incubator Technology Center Inc50 Lodge Ln Ste 114, Verona, VA 24482-9400VA2000-06$69,544
15Southwest Regional Enterprise Center Inc1117 E Stuart Drive, Galax, VA 24333-2656VA2002-04$48,511
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17Virginias River CountryPO BOX 286, Saluda, VA 23149-0286VA1999-07$30,339
18Virginia Downtown Development Association2231 Dale Bay Ln, Henrico, VA 23233VA1997-11$18,912
19United Professionals Inc1078 N Turnberry, Williamsburg, VA 23188VA2008-08$11,994
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Number of organizations performing similar types of work
District of Columbia35
North Carolina125
North Dakota13
New Hampshire25
New Jersey61
New Mexico41
New York213
Rhode Island6
South Carolina63
South Dakota34
West Virginia39
Total3,253 is not associated with, endorsed by, or sponsored by Main Street Mathews Inc and has no official or unofficial affiliation with Main Street Mathews Inc