Owatonna Incubator Inc in Owatonna, Minnesota (MN)
Table of contents:
| Owatonna Incubator Inc | |
| Employer Identification Number (EIN) | 411644556 |
| Name of Organization | Owatonna Incubator Inc |
| Address | PO BOX 505, Owatonna, MN 55060-0505 |
| Activities | Attracting new industry or retaining industry in an area, Area development, redevelopment of renewal |
| Subsection | Charitable Organization |
| Ruling Date | 02/1990 |
| 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 | 12/2013 |
| Assets | $25,000 to $99,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $86,006 |
| Amount of Income | $91,212 |
| Form 990 Revenue Amount | $91,212 |
| National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Management Services for Small Business, Entrepreneurs |
Non-representatives - add comments:
Amount of income in 2013: $91,212 (it was $132,299 in 2012)
| Owatonna Incubator Inc: | $91,212 |
| Other organizations performing similar types of work: | $412,701 |
Assets in 2013: $86,006 (it was $150,342 in 2012)
| This organization: | $86,006 |
| Other organizations performing similar types of work: | $399,242 |
Expenses in 2013: $155,352
| Owatonna Incubator Inc: | $155,352 |
| Other organizations performing similar types of work: | $359,525 |
Income to expenses ratio in 2013: 0.6
| This organization: | 0.6 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2013: 45.9%
| This organization: | 45.9% |
| Other organizations performing similar types of work: | 72.8% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $183,671 | $132,299 | $91,212 |
| Contributions, gifts, grants, and similar amounts received | $49,888 | $44,710 | $41,905 |
| Program service revenue including government fees and contracts | $133,656 | $86,862 | $48,977 |
| Membership dues and assessments | $0 | $0 | $0 |
| Investment income | $127 | $727 | $330 |
| 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 | $0 | $0 | $0 |
| Total expenses | $159,372 | $155,281 | $155,352 |
| Total net assets | $180,081 | $148,099 | $83,960 |
| Excess/Deficit for the year | $24,299 | $-22,982 | $-64,140 |
| Net assets or fund balances at beginning of year | $155,782 | $180,081 | $148,100 |
| Other changes in net assets or fund balances | $0 | $-9,000 | $0 |
| Net assets or fund balances at end of year | $148,099 | $83,960 | |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $182,262 | $150,342 | $86,006 |
| Total liabilities | $2,181 | $2,243 | $2,047 |
| Net assets or fund balances | $180,081 | $148,099 | $83,960 |
| 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 | 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: | 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 supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $804,474 |
| Subtotal | $804,474 |
| Gifts, grants, contributions, and membership fees received | $219,616 |
| 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 | $584,858 |
| 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 | $0 |
| Amounts received from disqualified persons | $0 |
| Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support | $0 |
| Total support | $806,594 |
| Public support | $804,474 |
| Subtotal | $2,120 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $2,120 |
| 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 | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Spedd Inc | 1129 Industrial Park Ste119, Vandergrift, PA 15690-9646 | PA | 1971-01 | $3,010,381 |
| 2 | Womens Initiative For Self Employment | PO BOX 29181, San Francisco, CA 94129-0181 | CA | 1993-10 | $2,973,098 |
| 3 | Milestone Growth Fund Inc | 250 2nd Ave S Ste 106, Minneapolis, MN 55401-2168 | MN | 1994-11 | $2,513,667 |
| 4 | Trenton Business Assistance Corporation | 3111 Quakerbridge Rd 2nd Fl, Mercerville, NJ 08619-1634 | NJ | 1980-08 | $1,756,891 |
| 5 | Southeast Chicago Development Commission Inc | 2938 E 91st Street Suite 106, Chicago, IL 60617-4208 | IL | 1982-10 | $1,689,483 |
| 6 | Valley Small Business Development Corporation | 7035 N Fruit Ave, Fresno, CA 93711-0761 | CA | 1978-02 | $1,636,133 |
| 7 | Southern California Minority Supplier Development Council Inc, A Public Benefit Corporation | 800 W 6th St Ste 850, Los Angeles, CA 90017-2711 | CA | 1982-10 | $1,416,863 |
| 8 | Ohio Minority Supplier Development Council | 100 E Broad St, Columbus, OH 43215-3607 | OH | 1989-12 | $1,044,043 |
| 9 | South Of Market Foundation, Urban Solutions | 1167 Mission St Ste 200, San Francisco, CA 94103-1544 | CA | 1993-12 | $846,671 |
| 10 | South Central Ozark Council Of Governments | PO BOX 100, Pomona, MO 65789-0100 | MO | 1992-06 | $755,095 |
| 11 | Virginia Regional Minority Supplier Development Council Inc | 707 E Main St Ste 1375, Richmond, VA 23219-2807 | VA | 1990-08 | $648,285 |
| 12 | Tristate Minority Supplier Development Council Inc | 220 Athens Way Ste 105, Nashville, TN 37228-1300 | TN | 1984-09 | $616,287 |
| 13 | Starting-Gate | 2750 Constitution Blvd, Beaver Falls, PA 15010-1275 | PA | 1986-01 | $562,741 |
| 14 | Urban Empowerment Corporation | 1011 Ne 117th St, Biscayne Park, FL 33161-6749 | FL | 1984-07 | $401,045 |
| 15 | Treasury Management Association Of New England | 256 Essex St, Salem, MA 01970-3434 | MA | 1982-07 | $348,140 |
| 16 | South Dekalb Business Incubator Inc | 2632 Rainbow Way, Decatur, GA 30034-1402 | GA | 1994-05 | $291,954 |
| 17 | Youngstown Area Development Corp | 2123 Belmont Ave, Youngstown, OH 44505-2402 | OH | 1969-05 | $251,719 |
| 18 | The M & L Foundation Inc | 23001 Industrial Blvd, Rogers, MN 55374-9566 | MN | 1995-09 | $197,585 |
| 19 | South Mississippi Contract Procurement Center | 1636 Popps Ferry Rd Ste 203, Biloxi, MS 39532-2309 | MS | 1988-08 | $124,067 |
| 20 | Owatonna Incubator Inc | PO BOX 505, Owatonna, MN 55060-0505 | MN | 1990-02 | $91,212 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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