Greater Newtown Community Redevelopment Corporation in Sarasota, Florida (FL)

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Greater Newtown Community Redevelopment Corporation
Employer Identification Number (EIN)650800942
Name of OrganizationGreater Newtown Community Redevelopment Corporation
In Care of NameJetson Grimes
Address1751 Dr Martin Luther King Jr Wa, Sarasota, FL 34234
Websitehttp://gncrc.org
ActivitiesDescribed in section 170(b)1)(a)(vi) of the Code, Supplying money, goods or services to the poor
SubsectionCharitable Organization
Ruling Date06/1998
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 Period2013
Assets$0
Income$0
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$1,329,869
Amount of Income$65,695
Form 990 Revenue Amount$65,695
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Community, Neighborhood Development, Improvement (General)


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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$68,526
Contributions, Gifts, Grants and Other Similar Amounts$26,211
Program Service Revenue$42,315
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$0
Statement of Functional Expenses (for 2012)
Total functional expenses$37,250
Compensation of current officers, directors, trustees, and key employees$4,544
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$32,706
Balance Sheet (for 2012)
Total assets$345,296
Total liabilities$388,038
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$345,647
Unsecured notes and loans payable to unrelated third parties$42,391
Total net assets or fund balances$-42,742
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$477,421
Gifts, grants, contributions, and membership fees received$140,667
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$264,735
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
Other$72,019
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