Folsom Economic Development Corporation in Folsom, California (CA)
Table of contents:
Folsom Economic Development Corporation | |
Employer Identification Number (EIN) | 680377492 |
Name of Organization | Folsom Economic Development Corporation |
Address | 200 Wool St, Folsom, CA 95630-2549 |
Activities | Described in section 509(a)(2) of the Code, Area development, redevelopment of renewal |
Subsection | Charitable Organization |
Ruling Date | 11/1996 |
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 | 06/2013 |
Assets | $10,000 to $24,999 |
Income | $25,000 to $99,999 |
Filing Requirement | 990 - Not required to file (all other) |
Asset Amount | $19,595 |
Amount of Income | $62,252 |
Form 990 Revenue Amount | $62,252 |
National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Economic Development |
Non-representatives - add comments:
Amount of income in 2013: $62,252 (it was $185,206 in 2012)
Folsom Economic Development Corporation: | $62,252 |
Other organizations performing similar types of work: | $135,279 |
Assets in 2013: $19,595 (it was $4,071 in 2012)
This organization: | $19,595 |
Other organizations performing similar types of work: | $114,906 |
Expenses in 2013: $45,230
Folsom Economic Development Corporation: | $45,230 |
Other organizations performing similar types of work: | $121,073 |
Income to expenses ratio in 2013: 1.4
Folsom Economic Development Corporation: | 1.4 |
Other organizations performing similar types of work: | 1.4 |
Grants share in income in 2013: 62.6%
Folsom Economic Development Corporation: | 62.6% |
Other organizations performing similar types of work: | 8.8% |
Revenue for 2013
Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
2011 | 2012 | 2013 | |
---|---|---|---|
Total revenue | $162,167 | $185,206 | $62,252 |
Contributions, gifts, grants, and similar amounts received | $110,400 | $98,776 | $39,000 |
Program service revenue including government fees and contracts | $0 | $0 | $0 |
Membership dues and assessments | $42,650 | $5,250 | $23,250 |
Investment income | $0 | $0 | $0 |
Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 |
Net income/loss from gaming and fundraising events | $0 | $0 | $0 |
Gross profit/loss from sales of inventory | $0 | $0 | $0 |
Other revenue | $9,117 | $81,180 | $2 |
Total expenses | $197,399 | $132,070 | $45,230 |
Total net assets | $-55,465 | $-2,329 | $14,693 |
Excess/Deficit for the year | $-35,232 | $53,136 | $17,022 |
Net assets or fund balances at beginning of year | $-20,233 | $-55,465 | $-2,329 |
Other changes in net assets or fund balances | $0 | $0 | $0 |
Net assets or fund balances at end of year | $-2,329 | $14,693 |
Balance Sheets | |||
2011 | 2012 | 2013 | |
---|---|---|---|
Total assets | $47,075 | $4,071 | $19,595 |
Total liabilities | $102,540 | $6,400 | $4,902 |
Net assets or fund balances | $-55,465 | $-2,329 | $14,693 |
Other Information | |||
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 | Yes | |
Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
Has the organization filed a Form 990-T for the year? | No | 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 |
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? | 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 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 2009 - 2013) | |
2009 - 2013 Total | |
---|---|
Public Support | $518,506 |
Subtotal Support | $518,506 |
Gifts, grants, contributions, and membership fees received | $518,506 |
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 | $705,105 |
Public Support | $518,506 |
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 | $186,599 |
Gross receipts from related activities, etc. | $0 |
Unrelated Trade or Business Income (for 2008) | |||
Income | Expenses | Net | |
---|---|---|---|
Total | $0 | $0 | $0 |
Gross receipts or sales less returns and allowances | $0 | $0 | $0 |
Cost of goods sold | $0 | $0 | $0 |
Gross profit | $0 | $0 | $0 |
Capital gain net income | $0 | $0 | $0 |
Net gain | $0 | $0 | $0 |
Capital loss deduction for trusts | $0 | $0 | $0 |
Income (loss) from partnerships and S corporations | $0 | $0 | $0 |
Rent income | $0 | $0 | $0 |
Unrelated debt-financed income | $0 | $0 | $0 |
Interest, annuities, royalties, and rents from controlled organizations | $0 | $0 | $0 |
Investment income of a section 501(c)(7), (9), or (17) organization | $0 | $0 | $0 |
Exploited exempt activity income | $0 | $0 | $0 |
Advertising income | $0 | $0 | $0 |
Other income | $0 | $0 | $0 |
Deductions Not Taken Elsewhere (for 2008) | |
Total deductions | $0 |
Compensation of officers, directors, and trustees | $0 |
Salaries and wages | $0 |
Repairs and maintenance | $0 |
Bad debts | $0 |
Interest | $0 |
Taxes and licenses | $0 |
Charitable contributions | $0 |
Depreciation | $0 |
Depletion | $0 |
Contributions to deferred compensation plans | $0 |
Employee benefit programs | $0 |
Excess exempt expenses | $0 |
Excess readership costs | $0 |
Other deductions | $0 |
Unrelated business taxable income | $0 |
Unrelated business taxable income before net operating loss deduction | $0 |
Net operating loss deduction | $0 |
Unrelated business taxable income before specific deduction | $0 |
Specific deduction | $1,000 |
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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 | The Community Partnership For Families Of San Joaquin | PO BOX 1569, Stockton, CA 95201-1569 | CA | 2001-06 | $3,271,207 |
3 | South Lake Tahoe Tourism District | 3535 Lake Tahoe Blvd, S Lake Tahoe, CA 96150-8947 | CA | 2008-09 | $2,111,751 |
4 | Citadel Economic Development Corporation | 937 Via Lata Ste 500, Colton, CA 92324-3940 | CA | 2013-11 | $1,765,963 |
5 | Advance Redding | 700 Auditorium Dr, Redding, CA 96001-0919 | CA | 2012-09 | $1,412,247 |
6 | Promote La Trade - Iaph 2013 | 425 S Palos Verdes St, San Pedro, CA 90731-3309 | CA | 2012-06 | $1,396,151 |
7 | Downtown Oakland Association | 388 19th St, Oakland, CA 94612-3425 | CA | 2010-08 | $914,938 |
8 | Civic San Diego Economic Growth And Neighborhood Investment Fund | 401 B St Ste 400, San Diego, CA 92101-4298 | CA | 2014-11 | $784,625 |
9 | Santa Clarita Valley Economic Development Corporation | 26455 Rockwell Canyon Rd Ste 263, Santa Clarita, CA 91355-1803 | CA | 2009-12 | $758,287 |
10 | Downtown Ventura Property Owners Association, Downtown Ventura Partners | 374 P, Ventura, CA 93001 | CA | 2010-10 | $740,235 |
11 | San Pedro Bay Port Technologies Development Center Inc | 302 W 5th St Ste 201, San Pedro, CA 90731-2749 | CA | 2009-09 | $670,964 |
12 | Lincoln Heights Benefit Assoc Of Los Angeles | 5651 Fallston St Ste 207, Los Angeles, CA 90042-1967 | CA | 2011-03 | $666,809 |
13 | The Los Angeles Development Fund | 1200 W 7th St, Los Angeles, CA 90017-2349 | CA | 2008-06 | $555,904 |
14 | Small Business Development Corporation Of Orange County | 217 N Main St Ste 115, Santa Ana, CA 92701-4849 | CA | 2002-10 | $518,407 |
15 | San Diego North Economic Development Council | 950 Boardwalk Ste 303, San Marcos, CA 92078-2639 | CA | 2002-07 | $469,580 |
16 | World Trade Center Association Los Angeles-Long Beach | 444 S Flower St Fl 37, Los Angeles, CA 90071-2972 | CA | 2007-03 | $426,239 |
17 | Teamcalifornia Economic Development Corporation | 8789 Auburn Folsom Rd 108, Granite Bay, CA 95746-6287 | CA | 2009-02 | $420,297 |
18 | So Cal Corporate Growth Partners | 25186 Hancock Ave Ste 220, Murrieta, CA 92562-5998 | CA | 2011-08 | $402,698 |
19 | Cudahy Economic Development Corporation | 5220 Santa Ana St, Cudahy, CA 90201-6024 | CA | 2013-04 | $376,994 |
20 | Connect The World Inc | 11407 Julius Ave, Downey, CA 90241-4431 | CA | 2010-10 | $301,185 |
Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total | 3,253 |
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