Midcoast Magnet in Camden, Maine (ME)

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Midcoast Magnet
Employer Identification Number (EIN)202706715
Name of OrganizationMidcoast Magnet
AddressPO BOX 1044, Camden, ME 04843-1044
SubsectionCharitable Organization
Ruling Date11/2011
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$25,000 to $99,999
Income$10,000 to $24,999
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$98,304
Amount of Income$16,098
Form 990 Revenue Amount$16,098
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Business and Industry


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Amount of income in 2013: $16,098 (it was $73,313 in 2012)
This organization: 

 $16,098
Other organizations performing similar types of work: 

 $85,710

Assets in 2013: $98,304 (it was $105,149 in 2012)
Midcoast Magnet: 

 $98,304
Other organizations performing similar types of work: 

 $49,958

Expenses in 2013: $27,726
Midcoast Magnet: 

 $27,726
Other organizations performing similar types of work: 

 $75,630

Income to expenses ratio in 2013: 0.6
Midcoast Magnet: 

 0.6
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2013: 99.3%
This organization: 

 99.3%
Other organizations performing similar types of work: 

 0.0%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20122013
Total revenue$73,313$16,098
Contributions, gifts, grants, and similar amounts received$65,605$15,993
Program service revenue including government fees and contracts$5,895$0
Membership dues and assessments$0$0
Investment income$1,813$105
Gain/Loss from sale of assets other than inventory$0$0
Net income/loss from gaming and fundraising events$0$0
Gross profit/loss from sales of inventory$0$0
Other revenue$0$0
Total expenses$19,653$27,726
Total net assets$103,325$91,697
Excess/Deficit for the year$53,660$-11,628
Net assets or fund balances at beginning of year$50,035$103,325
Other changes in net assets or fund balances$-370$0
Net assets or fund balances at end of year$103,325$91,697
Balance Sheets
20122013
Total assets$105,149$98,304
Total liabilities$1,824$6,607
Net assets or fund balances$103,325$91,697
Other Information
20122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
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?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0
Gross receipts for public use of club facilities$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?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
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
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$211,938
Subtotal$266,547
Gifts, grants, contributions, and membership fees received$211,046
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$55,501
Gross receipts from activities that are not an unrelated trade or business under section 513$0
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
Less$54,609
Amounts received from disqualified persons$54,609
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$268,593
Public support$266,547
Subtotal$2,046
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$2,046
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1San Diego Tourism Marketing District8880 Rio San Diego Dr Fl 8, San Diego, CA 92108-1642CA2009-01$22,863,655
2American Natural Gas Alliance Inc701 8th St Nw Ste 800, Washington, DC 20001-3967DC2009-11$56,951,994
3United States Soybean Export Council Inc16305 Swingley Ridge Rd Ste 200, Chesterfield, MO 63017-1777MO2006-10$36,003,739
4Symbian Foundation LimitedCheapside House 138 Cheapside, Londoninternational2010-08$31,927,134
5Dallas Tourism Public Improvement District Corporation325 N Saint Paul St Ste 700, Dallas, TX 75201-3874TX2014-08$12,762,591
6Wv Regional Technology Park Corp1740 Union Carbide Dr, S Charleston, WV 25303-2732WV2012-05$8,438,326
7Orono Economic Development CorporationPO BOX 335, Orono, ME 04473-0335ME2001-09$509,781
8Maine Asphalt Pavement Association77 Sewall Street, Augusta, ME 04330-6328ME2014-03$98,252
9Maine Engineering Promotion Council37 Liberty Dr, Bangor, ME 04401-1130ME2003-04$50,440
10Central Maine Apartment Owners Association IncPO BOX 827, Waterville, ME 04903-0827ME2011-11$40,147
11Midcoast MagnetPO BOX 1044, Camden, ME 04843-1044ME2011-11$16,098
12Acf Casco Bay Culinary Association2 Fort Ave, South Portland, ME 04106ME2012-10$0
13Big MedicinePo Box 13, Kennebunkport, ME 04046ME2000-12$0
14Biobased Maine565 Congress Street Suite 204, Portland, ME 04112ME2011-10$0
15Central Maine Twirling Boosters100 Marine Lane, Whitefield, ME 04353ME2012-08$0
16Energy Supply Inc1 Old County Rd, Veazie, ME 04401-6972ME2000-08$0
17Greater Lincoln Area Chamber Of CommercePo Box 164, Lincoln, ME 04457ME2012-10$0
18International Society Of Coating Science And Technology Ltd5737 Jenness Hall University Of Maine, Orono, ME 04469ME1999-03$0
19Naifa-Eastern MainePo Box 2068, Bangor, ME 04402ME1999-02$0
20Southern Maine Regional Water Council17 State Road, Kittery, ME 03904ME2011-03$0
Number of organizations performing similar types of work
Alaska13
Alabama31
Arkansas22
Arizona43
California277
Colorado46
Connecticut33
District of Columbia50
Delaware9
Florida124
Georgia45
Hawaii13
Iowa31
Idaho13
Illinois65
Indiana42
Kansas26
Kentucky35
Louisiana28
Massachusetts48
Maryland37
Maine14
Michigan85
Minnesota47
Missouri43
Mississippi19
Montana15
North Carolina65
North Dakota13
Nebraska17
New Hampshire13
New Jersey58
New Mexico18
Nevada17
New York146
Ohio65
Oklahoma19
Oregon55
Pennsylvania82
Rhode Island8
South Carolina30
South Dakota10
Tennessee34
Texas146
Utah21
Virginia90
Vermont7
Washington66
Wisconsin42
West Virginia16
Wyoming10
International4
Total2,306

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