Guthrie Center Area Development Corporation in Guthrie Ctr, Iowa (IA)

Guthrie Center Area Development Corporation
Employer Identification Number (EIN)	421275758
Name of Organization	Guthrie Center Area Development Corporation
Address	306 State St, Guthrie Ctr, IA 50115-1352
Activities	Attracting new industry or retaining industry in an area
Subsection	Social Welfare Organization
Ruling Date	11/1986
Deductibility	Contributions are not deductible
Foundation	All organizations except 501(c)(3)
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	12/2013
Assets	$100,000 to $499,999
Income	$25,000 to $99,999
Filing Requirement	990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount	$402,741
Amount of Income	$49,513
Form 990 Revenue Amount	$49,513
National Taxonomy of Exempt Entities (NTEE)	Community Improvement, Capacity Building: Economic Development

Non-representatives - add comments:

Amount of income in 2013: $49,513

This organization:	$49,513
Other organizations performing similar types of work:	$623,666

Assets in 2013: $402,741

This organization:	$402,741
Other organizations performing similar types of work:	$2,159,711

Expenses in 2013: $37,716

Guthrie Center Area Development Corporation:	$37,716
Other organizations performing similar types of work:	$483,294

Income to expenses ratio in 2013: 1.3

Guthrie Center Area Development Corporation:	1.3
Other organizations performing similar types of work:	1.1

Expenses allocated to program services in 2007: 98.8%

Guthrie Center Area Development Corporation:	98.8%
Other organizations performing similar types of work:	25.8%

Grants share in income in 2013: 13.8%

This organization:	13.8%
Other organizations performing similar types of work:	28.9%

Financial snapshot ($)

Revenue for 2013

	2011	2012	2013
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$23,878	$30,615	$49,513
Contributions, gifts, grants, and similar amounts received	$0	$17,225	$6,825
Program service revenue including government fees and contracts	$18,000	$12,300	$42,400
Membership dues and assessments	$0	$0	$0
Investment income	$5	$2	$2
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	$5,873	$1,088	$286
Total expenses	$33,805	$30,574	$37,716
Total net assets	$62,027	$62,068	$73,865
Excess/Deficit for the year	$-9,927	$41	$11,797
Net assets or fund balances at beginning of year	$71,954	$62,027	$62,068
Other changes in net assets or fund balances	$0	$0	$0
Net assets or fund balances at end of year		$62,068	$73,865

	2011	2012	2013
Balance Sheets
Total assets	$73,639	$178,083	$402,741
Total liabilities	$11,612	$116,015	$328,876
Net assets or fund balances	$62,027	$62,068	$73,865

	2011	2012	2013
Other Information
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	No
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:	Not provided
Number of organizations supported	0
Sum of amounts of support	$0

	2000	2002	2006	2007
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$32,600	$45,847	$40,728	$40,356
Contributions, gifts, grants, and similar amounts received	$1,400	$11,895	$950	$125
Contributions to donor advised funds			$0	$0
Direct public support	$0	$0	$950	$125
Indirect public support	$0	$0	$0	$0
Government contributions (grants)	$0	$0	$0	$0
Program service revenue including government fees and contracts	$0	$0	$38,466	$39,118
Membership dues and assessments	$0	$0	$0	$0
Interest on savings and temporary cash investments	$0	$0	$0	$0
Dividends and interest from securities	$0	$0	$0	$0
Net rental income or (loss)	$0	$0	$0	$0
Gross rents	$0	$0	$0	$0
Less: rental expenses	$0	$0	$0	$0
Other investment income	$0	$0	$1,312	$1,113
Gain or (loss) from sales of assets other than inventory	$0	$0	$0	$0
Gross amount from sales of assets other than inventory	$0	$0	$0	$7,500
Less: cost or other basis and sales expenses	$0	$0	$0	$7,500
Net income or (loss) from special events and activities	$0	$0	$0	$0
Gross revenue	$0	$0	$0	$0
Less: direct expenses other than fundraising expenses	$0	$0	$0	$0
Gross profit or (loss) from sales of inventory	$0	$0	$0	$0
Gross sales of inventory, less returns and allowances	$0	$0	$0	$0
Less: cost of goods sold	$0	$0	$0	$0
Other revenue	$31,200	$33,600	$0	$0
Total expenses	$26,407	$24,819	$43,833	$53,078
Program services	$0	$0	$42,893	$52,447
Management and general	$0	$0	$940	$631
Fundraising	$0	$0	$0	$0
Payments to affiliates	$0	$0	$0	$0
Net assets or fund balances at end of year	$87,505	$109,924	$144,806	$132,084
Excess or (deficit) for the year	$6,193	$21,028	$-3,105	$-12,722
Net assets or fund balances at beginning of year	$81,312	$88,896	$147,912	$144,806
Other changes in net assets or fund balances	$0	$0	$-1	$0

	Total	Program services	Management and general	Fundraising
Statement of Functional Expenses (for 2007)
Total functional expenses	$53,078	$52,447	$631	$0
Grants paid from donor advised funds		$0
Other grants and allocations		$0
Specific assistance to individuals		$0
Benefits paid to or for members		$0
Compensation of current officers, directors, key employees, etc.	$0	$0	$0	$0
Compensation of former officers, directors, key employees, etc.	$0	$0	$0	$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)	$0	$0	$0	$0
Salaries and wages of employees not included above	$0	$0	$0	$0
Pension plan contributions not included above	$0	$0	$0	$0
Employee benefits not included above	$0	$0	$0	$0
Payroll taxes	$0	$0	$0	$0
Professional fundraising fees	$0	$0	$0	$0
Accounting fees	$562	$0	$562	$0
Legal fees	$0	$0	$0	$0
Supplies	$0	$0	$0	$0
Telephone	$0	$0	$0	$0
Postage and shipping	$0	$0	$0	$0
Occupancy	$14,822	$14,822	$0	$0
Equipment rental and maintenance	$0	$0	$0	$0
Printing and publications	$0	$0	$0	$0
Travel	$0	$0	$0	$0
Conferences, conventions, and meetings	$0	$0	$0	$0
Interest	$17,928	$17,928	$0	$0
Depreciation, depletion, etc.	$5,341	$5,341	$0	$0
Other expenses not covered above	$14,425	$14,356	$69	$0

	2000	2002	2006	2007
Balance Sheets
Total assets	$125,585	$135,280	$380,177	$361,143
Cash - non-interest-bearing	$0	$0	$1,602	$586
Savings and temporary cash investments	$0	$0	$50,694	$40,018
Accounts receivable less allowance for doubtful accounts	$0	$0	$0	$0
Pledges receivable less allowance for doubtful accounts	$0	$0	$0	$0
Grants receivable	$0	$0	$0	$0
Receivables from current and former officers, directors, trustees, and key employees	$0	$0	$0	$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)			$0	$0
Other notes and loans receivable less allowance for doubtful accounts	$0	$0	$5,056	$3,056
Inventories for sale or use	$0	$0	$0	$0
Prepaid expenses and deferred charges	$0	$0	$0	$0
Investments - publicly-traded securities			$0	$0
Investments - other securities	$0	$0	$0	$0
Investments - land, buildings, and equipment less accumulated depreciation	$0	$0	$0	$0
Investments - other	$0	$0	$0	$0
Land, buildings, and equipment less accumulated depreciation	$108,603	$97,941	$322,824	$317,483
Other assets, including program-related investments	$0	$0	$1	$0
Total liabilities	$38,080	$25,356	$235,371	$229,059
Accounts payable and accrued expenses	$0	$0	$0	$0
Grants payable	$0	$0	$0	$0
Deferred revenue	$0	$0	$0	$0
Loans from officers, directors, trustees, and key employees	$0	$0	$0	$0
Tax-exempt bond liabilities	$0	$0	$0	$0
Mortgages and other notes payable	$0	$0	$235,371	$229,059
Other liabilities	$0	$0	$0	$0
Total liabilities and net assets/fund balances	$0	$0	$380,177	$361,143
Total net assets or fund balances	$87,505	$109,924	$144,806	$132,084

	2000	2002	2006	2007
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
Total revenue	$0	$0	$40,728	$40,356
Total revenue, gains, and other support per audited financial statements	$0	$0	$40,728	$40,356
Other expenses	$0	$0	$0	$0
Net unrealized gains on investments	$0	$0	$0	$0
Donated services and use of facilities	$0	$0	$0	$0
Recoveries of prior year grants	$0	$0	$0	$0
Other	$0	$0	$0	$0
Other revenue	$0	$0	$0	$0
Investment expenses	$0	$0	$0	$0
Other	$0	$0	$0	$0

	2000	2002	2006	2007
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
Total expenses	$0	$0	$43,833	$53,078
Total expenses and losses per audited financial statements	$0	$0	$43,833	$53,078
Other revenue	$0	$0	$0	$0
Donated services and use of facilities	$0	$0	$0	$0
Prior year adjustments	$0	$0	$0	$0
Losses	$0	$0	$0	$0
Other	$0	$0	$0	$0
Other expenses	$0	$0	$0	$0
Investment expenses	$0	$0	$0	$0
Other	$0	$0	$0	$0

Current Officers, Directors, Trustees, and Key Employees

Total number of officers, directors, and trustees permitted to vote on organization business at board meetings	8
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?	No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?	No
Does the organization have a written conflict of interest policy?	Yes

Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?	No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?	No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?	No
Direct and indirect political expenditures	$0
Did the organization file Form 1120-POL for this year?	No
Were substantially all dues nondeductible by members?	No
Did the organization make only in-house lobbying expenditures of $2,000 or less?	No
Dues, assessments, and similar amounts from members	$0
Section 162(e) lobbying and political expenditures	$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices	$0
Taxable amount of lobbying and political expenditures	$0
Does the organization elect to pay the section 6033(e) tax on the amount above?	No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?	No
Initiation fees and capital contributions	$0
Gross receipts for public use of club facilities	$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?	No
Amount of tax imposed on the organization during the year under: section 4911	$0
Amount of tax imposed on the organization during the year under: section 4912	$0
Amount of tax imposed on the organization during the year under: section 4955	$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?	No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958	$0
Amount of tax above, reimbursed by the organization	$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?	No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?	No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?	No
Number of employees employed in the pay period that includes March 12, 2006	0

	Unrelated business income		Excluded by section 512, 513, or 514		Related or exempt function income
Analysis of Income-Producing Activities (for 2007)
	Business code	Amount	Exclusion code	Amount	Related or exempt function income
Total		$0		$1,113	$39,118
Program service revenue
Program service revenue 1	000000	$0	00	$0	$39,118
Program service revenue 2	000000	$0	00	$0	$0
Program service revenue 3	000000	$0	00	$0	$0
Program service revenue 4	000000	$0	00	$0	$0
Program service revenue 5	000000	$0	00	$0	$0
Medicare/Medicaid payments	000000	$0	00	$0	$0
Fees and contracts from government agencies	000000	$0	00	$0	$0
Membership dues and assessments	000000	$0	00	$0	$0
Interest on savings and temporary cash investments	000000	$0	00	$0	$0
Dividends and interest from securities	000000	$0	00	$0	$0
Net rental income or (loss) from real estate
debt-financed property	000000	$0	00	$0	$0
not debt-financed property	000000	$0	00	$0	$0
Net rental income or (loss) from personal property	000000	$0	00	$0	$0
Other investment income	000000	$0	Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)	$1,113	$0
Gain or (loss) from sales of assets other than inventory	000000	$0	00	$0	$0
Net income or (loss) from special events	000000	$0	00	$0	$0
Gross profit or (loss) from sales of inventory	000000	$0	00	$0	$0
Other revenue	000000	$0	00	$0	$0

EIN of corporation, partnership, or disregarded entity	Percentage of ownership interest	Total income	End-of-year assets
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
	0%	$0	$0
	0%	$0	$0
	0%	$0	$0
	0%	$0	$0

Compensation	Contributions to employee benefit plans & deferred compensation	Expense account and other allowances
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0

Total number of other employees paid over $50,000	0

Total number of other employees paid over $50,000

Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities	$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year	$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year	$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts	$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year	$0

Reason for Non-Private Foundation Status
The organization is not a private foundation because it is

	1999	2001	2005	2006
Support Schedule
Total	$0	$0	$0	$0
Gifts, grants, and contributions received	$0	$0	$0	$0
Membership fees received	$0	$0	$0	$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose	$0	$0	$0	$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975	$0	$0	$0	$0
Net income from unrelated business activities not included above	$0	$0	$0	$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf	$0	$0	$0	$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge	$0	$0	$0	$0
Other income	$0	$0	$0	$0

Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures	$0
Total lobbying expenditures	$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)	$0
Total lobbying expenditures to influence a legislative body (direct lobbying)	$0
Other exempt purpose expenditures	$0
Lobbying nontaxable amount	$0
Grassroots nontaxable amount	$0

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Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	Siouxland Economic Development Corporation	617 Pierce Street Suite 202, Sioux City, IA 51101-1205	IA	1981-06	$1,104,042
2	Spirit Of 76 Inc	PO BOX 1876, Junction City, KS 66441-6876	KS	1976-07	$1,102,440
3	Black Hawk Economic Development Inc	3835 W 9th St, Waterloo, IA 50702-5913	IA	1979-08	$553,660
4	Manilla Economic Development Corporation	341 4th Street, Manilla, IA 51454	IA	1988-11	$205,073
5	Manchester Enterprises Inc	217 N Franklin St, Manchester, IA 52057-1538	IA	1992-02	$179,095
6	Crawford County Development Corp	Denison, IA 51442	IA		$160,832
7	Fremont County Economic Development Corporation Inc	PO BOX 736, Sidney, IA 51652-0736	IA	1998-10	$57,635
8	Guthrie Center Area Development Corporation	306 State St, Guthrie Ctr, IA 50115-1352	IA	1986-11	$49,513
9	Hubbard Economic Development Corp Nfo	Po Box 265, Hubbard, IA 50122	IA		$32,100
10	Harlan Industrial Foundation	C/O Muxfeldt Associates-Cpa Pc Po B, Harlan, IA 51537	IA	1987-10	$17,478
11	Council Bluffs Industrial Foundation Incorporated	149 W Broadway, Council Bluffs, IA 51503-4355	IA	1958-09	$15,906
12	Wisconsin Business Development Finance Corporation	100 River Pl1 Board Walkll, Monona, WI 53716	WI	1982-07	$6,747,667
13	Tri-County Council For Southern Maryland	PO BOX 745, Hughesville, MD 20637-0745	MD	1983-05	$6,090,097
14	City Urban Revitalization Corporation	68-700 Avenida Lalo Guerrero, Cathedral City, CA 92234-1208	CA	2002-06	$6,002,442
15	Iron County Action Plan Committee	PO BOX 108, Ironton, MO 63650	MO	2000-02	$5,517,378
16	West Central Arkansas Planning & Development District Inc	PO BOX 6409, Hot Springs, AR 71902-6409	AR	1996-03	$4,534,357
17	Southwest Arkansas Planning &	101 Harvey Couch Blvd, Magnolia, AR 71754	AR	1978-02	$3,421,370
18	Washington County Economic Development Partnership, Washington County Economic Development Inc	20 E Beau Street, Washington, PA 15301	PA	2006-12	$2,476,170
19	The Resource Inc	PO BOX 36, North Eastham, MA 02651-0036	MA	1994-05	$2,025,775
20	La Cocina Inc	2948 Folsom St, San Francisco, CA 94110-4028	CA	2007-08	$1,958,553

Number of organizations performing similar types of work

Alaska	7
Alabama	4
Arkansas	8
Arizona	5
California	16
Colorado	7
Connecticut	3
District of Columbia	3
Delaware	3
Florida	7
Georgia	2
Iowa	13
Idaho	2
Illinois	10
Indiana	11
Kansas	5
Kentucky	8
Louisiana	11
Massachusetts	4
Maryland	9
Maine	3
Michigan	11
Minnesota	5
Missouri	5

Mississippi	5
Montana	3
North Carolina	13
North Dakota	2
Nebraska	3
New Hampshire	3
New Jersey	8
New Mexico	2
New York	18
Ohio	10
Oklahoma	2
Oregon	1
Pennsylvania	39
South Carolina	5
South Dakota	4
Tennessee	3
Texas	25
Utah	3
Virginia	8
Vermont	5
Washington	6
Wisconsin	12
West Virginia	6
International	1

Total

349

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