Crossroads Incubator Corporation in Johnstown, New York (NY)

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Crossroads Incubator Corporation
Employer Identification Number (EIN)141713435
Name of OrganizationCrossroads Incubator Corporation
In Care of NameJohnstown Prof Office Complex
Address110 Decker Drive, Johnstown, NY 12095-2157
ActivitiesAttracting new industry or retaining industry in an area, Described in section 170(b)1)(a)(vi) of the Code, Area development, redevelopment of renewal
SubsectionCharitable Organization
Ruling Date04/1991
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 Period12/2013
Assets$10,000,000 to $49,999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$15,582,055
Amount of Income$884,807
Form 990 Revenue Amount$884,807
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Rural Development


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Amount of income in 2013: $884,807
This organization: 

 $884,807
Other organizations performing similar types of work: 

 $320,667

Assets in 2013: $15,582,055
This organization: 

 $15,582,055
Other organizations performing similar types of work: 

 $2,309,217

Expenses in 2012: $1,977,683
Crossroads Incubator Corporation: 

 $1,977,683
Other organizations performing similar types of work: 

 $368,628

Income to expenses ratio in 2012: 0.4
Crossroads Incubator Corporation: 

 0.4
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2002: 90.3%
This organization: 

 90.3%
Other organizations performing similar types of work: 

 83.7%

Number of employees in 2012: 5
Crossroads Incubator Corporation: 

 5
Other organizations performing similar types of work: 

 4

Grants share in income in 2012: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 47.7%

Financial snapshot ($)

Revenue 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$827,696
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$993,757
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$465
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net loss from sales of assets other than inventory$-194,083
Gross amount from sales of assets other than inventory (Securities / Other)$827,327 / $0
Less: cost or other basis and sales expenses (Securities / Other)$1,021,410 / $0
Gain or (loss) (Securities / Other)$-194,083 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$27,557
Statement of Functional Expenses (for 2012)
Total functional expenses$1,977,683
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$48,069
Payroll taxes$7,668
Professional fundraising services$0
Other$1,921,946
Balance Sheet (for 2012)
Total assets$16,023,932
Total liabilities$11,823,418
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$2,368,674
Unsecured notes and loans payable to unrelated third parties$0
Other$9,454,744
Total net assets or fund balances$4,200,514
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$9,252,458
Gifts, grants, contributions, and membership fees received$0
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$9,196,309
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$56,149
Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002
Total revenue$277,382$-6,901$4,390,468
Contributions, gifts, grants, and similar amounts received$0$0$350,000
Contributions to donor advised funds
Direct public support$0$0$0
Indirect public support$0$0$0
Government contributions (grants)$0$0$350,000
Program service revenue including government fees and contracts$0$0$4,019,319
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$32,474$21,987$12,655
Dividends and interest from securities$0$0$0
Net rental income or (loss)$-128,946$-253,565$0
Gross rents$2,833,294$3,268,823$0
Less: rental expenses$2,962,240$3,522,388$0
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$0$1,600$0
Gross amount from sales of assets other than inventory$0$1,600$0
Less: cost or other basis and sales expenses$0$0$0
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$373,854$223,077$8,494
Total expenses$0$0$4,082,246
Program services$0$0$3,685,820
Management and general$0$0$396,426
Fundraising$0$0$0
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$543,366$536,465$844,687
Excess or (deficit) for the year$277,382$-6,901$308,222
Net assets or fund balances at beginning of year$265,984$543,366$536,465
Other changes in net assets or fund balances$0$0$0
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$4,082,246$3,685,820$396,426$0
Grants paid from donor advised funds
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.
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)
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$7,000$7,000$0$0
Legal fees$23,020$23,020$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$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$2,621,747$2,621,747$0$0
Depreciation, depletion, etc.$837,185$837,185$0$0
Other expenses not covered above$593,294$196,868$396,426$0
Balance Sheets
200020012002
Total assets$31,004,793$34,535,588$37,725,159
Cash - non-interest-bearing$0$0$0
Savings and temporary cash investments$1,658,375$1,019,191$1,098,554
Accounts receivable less allowance for doubtful accounts$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$234,876$312,067$452,145
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$0$0$0
Investments - publicly-traded securities
Investments - other securities$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$0$0$0
Land, buildings, and equipment less accumulated depreciation$29,075,135$33,074,690$36,029,634
Other assets, including program-related investments$36,407$129,640$144,826
Total liabilities$30,461,427$33,999,123$36,880,472
Accounts payable and accrued expenses$1,503,763$1,306,612$1,392,519
Grants payable$0$0$0
Deferred revenue$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$0$0$0
Mortgages and other notes payable$28,957,664$32,692,511$35,487,953
Other liabilities$0$0$0
Total liabilities and net assets/fund balances$31,004,793$34,535,588$37,725,159
Total net assets or fund balances$543,366$536,465$844,687
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002
Total revenue$0$-6,901$4,390,468
Total revenue, gains, and other support per audited financial statements$0$3,515,487$4,390,468
Other expenses$0$0$0
Net unrealized gains on investments$0$0$0
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$0$0$0
Other revenue$0$-3,522,388$0
Investment expenses$0$0$0
Other$0$-3,522,388$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002
Total expenses$0$0$4,082,246
Total expenses and losses per audited financial statements$0$3,522,388$4,082,246
Other revenue$0$0$0
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$0
Other expenses$0$-3,522,388$0
Investment expenses$0$0$0
Other$0$-3,522,388$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
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?
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?
Does the organization have a written conflict of interest policy?
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?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
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?
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?
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)?
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?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20064
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$12,655$4,027,813
Program service revenue
Program service revenue 1000000$000$0$3,843,500
Program service revenue 2000000$000$0$164,221
Program service revenue 3000000$000$0$11,598
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, 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)$12,655$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$8,494
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$187,887$0$0
$54,597$0$0
$89,810$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2002)
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
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
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
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
199920002001
Total$2,479,492$3,239,622$3,457,016
Gifts, grants, and contributions received$0$0$0
Membership fees received$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$2,230,576$2,833,294$3,268,823
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$22,365$32,474$21,987
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$226,551$373,854$166,206
Lobbying Expenditures by Electing Public Charities (for 2002)
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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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1National Rural Utilities Cooperative Finance Corp20701 Cooperative Way, Dulles, VA 20166-6691VA1969-10$1,094,861,665
2Rural Economic Development Center Inc4021 Carya Dr, Raleigh, NC 27610-2914NC1987-04$44,119,617
3North Dakota Rural Rehabilitation CorporationPO BOX 2485, Bismarck, ND 58502-2485ND1936-05$4,390,974
4Granary FoundationPO BOX 136, Lyons, NE 68038-0136NE1997-02$3,923,412
5Neighborhood Lending Partners Inc, West Florida3615 W Spruce St, Tampa, FL 33607-2504FL2002-09$2,918,670
6Crossroads Incubator Corporation110 Decker Drive, Johnstown, NY 12095-2157NY1991-04$884,807
7Sierra Economic Development Corporation560 Wall St Ste F, Auburn, CA 95603-3996CA1970-04$576,021
8Dixie Business Development Center Inc1810 S Range Ave, Denham Springs, LA 70726-5237LA1994-01$301,358
9Michigan Rural Rehabilitation CorporationPO BOX 188, Marshall, MI 49068-0188MI1945-06$296,027
10Harrison County Agriculture Society2991 Melrose Ln, Missouri Vly, IA 51555-8008IA2008-04$115,838
11Acadiana Resource Conservation & Development Council Inc703 Thoroughbred Dr, Lafayette, LA 70507-2573LA1995-09$65,402
12Santee-Wateree Area Resources Conservation & Development Inc215 Third Loop Road, Florence, SC 29505-4717SC1993-09$47,482
13Southern Mutual Help Association Inc3602 Old Jeanerette Rd, New Iberia, LA 70563-3131LA1972-02$4,514,566
14Rural Action Inc11350 Jackson Dr, The Plains, OH 45780-1229OH1985-06$2,109,155
15Region Xii Development CorporationPO BOX 768, Carroll, IA 51401-0768IA1995-12$903,989
16Jubilee House Community1019 Troy Medlin Rd, Monroe, NC 28112-9449NC1980-02$884,732
17Southtowns Rural Preservation Company IncPO BOX 153, Boston, NY 14025-0153NY1987-03$228,580
18Rockingham County Local Food Coalition Inc525 Hwy 65 Ste 200, Reidsville, NC 27320-9620NC2011-09$14,363
19Colorado Bioagriculture FoundationP O Box 432, Kiowa, CO 80117CO2007-06$0
20Waynorroad In Action123 Concord Court, Carthage, NC 28327NC2008-01$0
Number of organizations performing similar types of work
Alabama1
Arkansas1
California1
Colorado1
Florida1
Georgia1
Iowa2
Louisiana3
Michigan1
Montana1
North Carolina4
North Dakota1
Nebraska1
New York2
Ohio2
South Carolina1
South Dakota1
Virginia1
Wisconsin1
Total27

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