Argentine Betterment Corporation in Kansas City, Kansas (KS)

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Argentine Betterment Corporation
Employer Identification Number (EIN)271406579
Name of OrganizationArgentine Betterment Corporation
In Care of NameMario Escobar
AddressPo Box 6613, Kansas City, KS 66106
Websitehttp://abckck.org
SubsectionCharitable Organization, Educational Organization
Ruling Date07/2010
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 Period2011
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$3,684,026
Amount of Income$1,947,454
Form 990 Revenue Amount$1,947,454
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Economic Development


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Amount of income in 2011: $1,947,454 (it was $1,947,454 in 2013)
Argentine Betterment Corporation: 

 $1,947,454
Other organizations performing similar types of work: 

 $135,279

Assets in 2011: $3,684,026 (it was $3,684,026 in 2013)
Argentine Betterment Corporation: 

 $3,684,026
Other organizations performing similar types of work: 

 $114,906

Expenses in 2013: $79,397
Argentine Betterment Corporation: 

 $79,397
Other organizations performing similar types of work: 

 $121,073

Income to expenses ratio in 2013: 24.5
Argentine Betterment Corporation: 

 24.5
Other organizations performing similar types of work: 

 1.4

Number of employees in 2013: 3
This organization: 

 3
Other organizations performing similar types of work: 

 1

Employees paid over $100,000 in 2013: 33.3%
This organization: 

 33.3%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 99.8%
Argentine Betterment Corporation: 

 99.8%
Other organizations performing similar types of work: 

 8.8%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?Yes
Is the organization required to complete Schedule B, Schedule of Contributors?Yes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?No
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?No
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?No
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?No
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?No
Did the organization maintain collections of works of art, historical treasures, or other similar assets?No
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?No
Did the organization report an amount for land, buildings, and equipment?Yes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?No
Did the organization report an amount for investments-program related that is 5% or more of its total assets?No
Did the organization report an amount for other assets that is 5% or more of its total assets?No
Did the organization report an amount for other liabilities?No
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?Yes
Did the organization obtain separate, independent audited financial statements for the tax year?Yes
Was the organization included in consolidated, independent audited financial statements for the tax year?No
Is the organization a school described in section 170(b)(1)(A)(ii)?No
Did the organization maintain an office, employees, or agents outside of the United States?No
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?No
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?No
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?No
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?No
Did the organization report more than $15,000 total of fundraising event gross income and contributions?No
Did the organization report more than $15,000 of gross income from gaming activities?No
Did the organization operate one or more hospital facilities?No
Did the organization attach a copy of its audited financial statements?No
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?No
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?No
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?Yes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?No
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?No
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?No
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?No
Did the organization engage in an excess benefit transaction with a disqualified person during the year?No
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?No
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?Yes
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?No
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?No
A family member of a current or former officer, director, trustee, or key employee?No
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?No
Did the organization receive more than $25,000 in non-cash contributions?No
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?No
Did the organization liquidate, terminate, or dissolve and cease operations?No
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?No
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?No
Was the organization related to any tax-exempt or taxable entity?No
Did the organization have a controlled entity within the meaning of section 512(b)(13)?No
Did the organization make any transfers to an exempt non-charitable related organization?No
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?No
Statements Regarding Other IRS Filings and Tax Compliance
20122013
The number reported in Box 3 of Form 10963
The number of Forms W-2G0
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?Yes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return3
Did the organization file all required federal employment tax returns?Yes
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?No
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?No
Did the organization file Form 8886-T?No
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?No
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?No
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?No
Did the organization notify the donor of the value of the goods or services provided?No
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?No
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?No
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?No
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?No
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?No
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?No
Did the sponsoring organization make any taxable distributions under section 4966?No
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?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
Is the organization filing Form 990 in lieu of Form 1041?No
The amount of tax-exempt interest received or accrued during the year$0
Is the organization licensed to issue qualified health plans in more than one state?No
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0
The amount of reserves on hand$0
Did the organization receive any payments for indoor tanning services during the tax year?No
Has it filed a Form 720 to report these payments?No
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$33,441
Total reportable compensation from related organizations$0
Total estimated amount of other compensation from the organization and related organizations$0
Total number of individuals who received more than $100,000 of reportable compensation from the organization0
Total number of independent contractors who received more than $100,000 of compensation from the organization1
Statement of Revenue
20122013
Total revenue$1,947,454
Contributions, Gifts, Grants and Other Similar Amounts$1,943,728
Program Service Revenue$3,726
900099$1,581
900099$2,145
All other program service revenue$0
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/loss from sales of assets other than inventory$0
Net income/loss from fundraising events$0$0
Net income/loss from gaming activities$0
Net income/loss from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses
20122013
Total functional expenses$79,397
Grants and other assistance to domestic organizations and domestic governments$0
Grants and other assistance to domestic individuals$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, trustees, and key employees$24,771
Compensation not included above, to disqualified persons$0
Other salaries and wages$9,745
Pension plan accruals and contributions$0
Other employee benefits$0
Payroll taxes$4,049
Fees for services (non-employees)
Management$0
Legal$0
Accounting$6,890
Lobbying$0
Professional fundraising services$0
Investment management fees$0
Other$1,405
Advertising and promotion$0
Office expenses$1,432
Information technology$240
Royalties$0
Occupancy$0
Travel$625
Payments of travel or entertainment expenses for any federal, state, or local public officials$0
Conferences, conventions, and meetings$0
Interest$7,425
Payments to affiliates$0
Depreciation, depletion, and amortization$6,503
Insurance$463
Other expenses$7,911
Other expenses$5,029
Other expenses$2,200
Other expenses$709
Balance Sheet
20122013
Total assets$553,273$3,684,026
Cash - non-interest-bearing$82,108
Savings and temporary cash investments$189,052
Pledges and grants receivable, net$0
Accounts receivable, net$10,874
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0
Notes and loans receivable, net$0
Inventories for sale or use$0
Prepaid expenses and deferred charges$0
Land, buildings, and equipment: cost or other basis$3,377,298
Investments - publicly traded securities$0
Investments - other securities$0
Investments - program-related$0
Intangible assets$0
Other assets$24,694
Total liabilities$374,107$1,496,703
Accounts payable and accrued expenses$340,620
Grants payable$0
Deferred revenue$0
Tax-exempt bond liabilities$0
Escrow or custodial account liability$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$9,000
Secured mortgages and notes payable to unrelated third parties$1,147,083
Unsecured notes and loans payable to unrelated third parties$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$0
Total net assets or fund balances$2,187,323
Unrestricted net assets$1,998,271
Temporarily restricted net assets$189,052
Permanently restricted net assets$0
Capital stock or trust principal, or current funds$0
Paid-in or capital surplus, or land, building, or equipment fund$0
Retained earnings, endowment, accumulated income, or other funds$0
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 supported0
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$2,319,363
Subtotal Support$2,319,363
Gifts, grants, contributions, and membership fees received$2,319,363
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$2,319,363
Public Support$2,319,363
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$0
Gross receipts from related activities, etc.$3,726
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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$1,093,865
2Argentine Betterment CorporationPo Box 6613, Kansas City, KS 66106KS2010-07$1,947,454
3Wakarusa Valley Development Inc4321 W 6th Street Suite B, Lawrence, KS 66049-3692KS2000-06$300,847
4Stafford County Economic Development Inc310 E 3rd Courthouse Annex, St John, KS 67576KS2013-01$268,372
5Smoky Solomon Resource Enhancement Inc119b S Pennsylvania Ave, Ness City, KS 67560-1907KS2002-07$150,784
6Chanute Regional Development Authority Inc1 S Lincoln Ave, Chanute, KS 66720-2429KS2013-12$123,109
7Governors Annual One Shot Turkey Hunt Inc200 S Main St Ste 2, El Dorado, KS 67042-3415KS2011-05$115,466
8Kiowa County Economic Development IncRural Route, Mullinville, KS 67109KS2009-03$91,113
9Altamont Community Improvement Association1290 HUSTON PO BOX 144, Altamont, KS 67330KS2012-03$87,559
1027 Committee Inc1100 N 4th Street, Leavenworth, KS 66048KS2013-11$51,020
11Southeast Kansas Prosperity Foundation Inc1701 S Broadway Shirk Hall, Pittsburg, KS 66762KS2007-01$35,653
12Southwest Passage Initiative For Regional And Interstate TraPO BOX 158, Liberal, KS 67905-0158KS2008-04$28,867
13Baldwin City Economic Development Corp802 Ames, Baldwin City, KS 66006KS2009-01$0
14Edwards County Community Development FoundationPo Box 161, Kinsley, KS 67547KS2011-03$0
15Elk City Kansas Pride IncPO BOX 4, Elk City, KS 67344-0004KS1997-06$0
16First City Development Corporation100 S 5th Street, Leavenworth, KS 66048KS2014-02$0
17Hodgeman County Economic Development IncPo Box 121, Jetmore, KS 67854KS2001-05$0
18Innovative Technologies Development Foundation Inc8527 Bluejacket St, Lenexa, KS 66214KS2004-08$0
19Kansas Blue Hills Foundation202 S 4th St, Osborne, KS 67473-1925KS2005-01$0
20L A B S Inc1740 South Fabrique, Wichita, KS 67208KS2007-03$0
Number of organizations performing similar types of work
Alaska23
Alabama64
Arkansas29
Arizona41
California299
Colorado47
Connecticut39
District of Columbia35
Delaware8
Florida134
Georgia71
Hawaii27
Iowa63
Idaho15
Illinois108
Indiana79
Kansas46
Kentucky50
Louisiana73
Massachusetts46
Maryland54
Maine37
Michigan101
Minnesota55
Missouri99
Mississippi38
Montana36
North Carolina125
North Dakota13
Nebraska37
New Hampshire25
New Jersey61
New Mexico41
Nevada16
New York213
Ohio149
Oklahoma39
Oregon51
Pennsylvania173
Rhode Island6
South Carolina63
South Dakota34
Tennessee56
Texas168
Utah17
Virginia62
Vermont16
Washington47
Wisconsin61
West Virginia39
Wyoming14
International10
Total3,253

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