The Launch Place in Danville, Virginia (VA)

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The Launch Place
Employer Identification Number (EIN)202917301
Name of OrganizationThe Launch Place
In Care of NamePhyllis Karvatakis
Address300 Ringgold Industrial Pkwy Ste 10, Danville, VA 24540-5548
SubsectionCharitable Organization
Ruling Date11/2005
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 Period06/2012
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$120,300
Amount of Income$362,087
Form 990 Revenue Amount$362,087
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Economic Development


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Amount of income in 2012: $362,087 (it was $399,630 in 2011)
The Launch Place: 

 $362,087
Other organizations performing similar types of work: 

 $152,071

Assets in 2012: $120,300 (it was $153,546 in 2011)
This organization: 

 $120,300
Other organizations performing similar types of work: 

 $145,197

Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$362,087
Contributions, Gifts, Grants and Other Similar Amounts$305,363
Program Service Revenue$54,887
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$0
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$1,837
Statement of Functional Expenses (for 2012)
Total functional expenses$399,176
Compensation of current officers, directors, trustees, and key employees$109,274
Other salaries and wages$152,971
Payroll taxes$20,332
Professional fundraising services$0
Other$116,599
Balance Sheet (for 2012)
Total assets$120,300
Total liabilities$4,208
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$4,208
Total net assets or fund balances$116,092
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
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
Support Schedule for Organizations Described in Section 509(a)(2) (for 2012)
2008 - 2012 Total
Total support$2,081,190
Gifts, grants, contributions, and membership fees received$1,603,496
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$477,694
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
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
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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$819,247
2West Piedmont Workforce Investment BoardPO BOX 4043, Martinsville, VA 24115VA2003-03$3,287,472
3Martinsvill-Henry County Economic Development CorporationPO BOX 631, Martinsville, VA 24114-0631VA2008-09$2,107,581
4Local Food HubPO BOX 4647, Charlottesvle, VA 22905-4647VA2010-06$1,233,881
5Round The Mountain Southwest Virginias Artisan Network1 Heartwood Cir, Abingdon, VA 24210-8398VA2006-03$1,054,938
6Virginias Gateway Region Inc256 E Ellerslie Ave Ste D, Colonial Hgts, VA 23834-1407VA2005-01$957,454
7Virginia Highlands Small Business Incubator851 French Moore Jr Blvd, Abingdon, VA 24210-4738VA2002-06$508,093
8The Launch Place300 Ringgold Industrial Pkwy Ste 10, Danville, VA 24540-5548VA2005-11$362,087
9Community Investment CollaborativePO BOX 2976, Charlottesvle, VA 22902-2976VA2012-06$171,005
10Virginia Economic Bridge26 Crestview Dr, Radford, VA 24141-3617VA1996-01$155,532
11Abingdon Main Street IncPO BOX 1231, Abingdon, VA 24212-1231VA2008-09$102,904
12Shenandoah Valley Incubator Technology Center Inc50 Lodge Ln Ste 114, Verona, VA 24482-9400VA2000-06$69,544
13Southwest Regional Enterprise Center Inc1117 E Stuart Dr, Galax, VA 24333-2656VA2002-04$60,212
14Virginias River CountryPO BOX 286, Saluda, VA 23149-0286VA1999-07$30,339
15Virginia Downtown Development Association2231 Dale Bay Ln, Henrico, VA 23233VA1997-11$18,912
16Downtown Danville Association635 Main St, Danville, VA 24541VA2002-03$13,669
17United Professionals Inc1078 N Turnberry, Williamsburg, VA 23188VA2008-08$11,994
18Cape Charles Renewal ProgramPO BOX 461, Cape Charles, VA 23310VA2004-05$0
19Central Shenandoah Development Corporation112 Mactanly Place, Staunton, VA 24401VA1998-08$0
20Eastern Shore Of Virginia Chamber Of Commerce Foundation, Esva Chamber FoundationPo Box 460, Melfa, VA 23410VA2012-04$0
Number of organizations performing similar types of work
Alaska21
Alabama54
Arkansas25
Arizona31
California261
Colorado37
Connecticut34
District of Columbia26
Delaware6
Florida103
Georgia58
Hawaii25
Iowa53
Idaho11
Illinois91
Indiana71
Kansas41
Kentucky44
Louisiana61
Massachusetts41
Maryland40
Maine25
Michigan84
Minnesota44
Missouri82
Mississippi33
Montana31
North Carolina116
North Dakota10
Nebraska29
New Hampshire22
New Jersey49
New Mexico37
Nevada13
New York189
Ohio130
Oklahoma36
Oregon40
Pennsylvania158
Rhode Island5
South Carolina55
South Dakota31
Tennessee49
Texas152
Utah16
Virginia56
Vermont15
Washington43
Wisconsin56
West Virginia33
Wyoming15
International9
Total2,797

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