Vannguard Local Development Corporation in Brooklyn, New York (NY)
Table of contents:
| Vannguard Local Development Corporation | |
| Employer Identification Number (EIN) | 113113924 |
| Name of Organization | Vannguard Local Development Corporation |
| Address | 613-619 George Glee Jr Way 3fl, Brooklyn, NY 11216 |
| Subsection | Charitable Organization |
| Ruling Date | 05/1997 |
| Deductibility | Contributions are deductible |
| Foundation | Organization 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 |
| Organization | Corporation |
| Tax Period | 12/2012 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $10,000 to $24,999 |
| Filing Requirement | 990 - Required to file Form 990-N - Income less than $25,000 per year |
| Asset Amount | $1,066,704 |
| Amount of Income | $20,668 |
| Form 990 Revenue Amount | $20,668 |
| National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Economic Development |
Non-representatives - add comments:
Amount of income in 2012: $20,668 (it was $84,873 in 2011)
| Vannguard Local Development Corporation: | $20,668 |
| Other organizations performing similar types of work: | $219,690 |
Assets in 2012: $1,066,704 (it was $1,194,456 in 2011)
| This organization: | $1,066,704 |
| Other organizations performing similar types of work: | $475,649 |
Expenses in 2012: $202,403
| Vannguard Local Development Corporation: | $202,403 |
| Other organizations performing similar types of work: | $225,641 |
Income to expenses ratio in 2012: 0.1
| Vannguard Local Development Corporation: | 0.1 |
| Other organizations performing similar types of work: | 1.1 |
Number of employees in 2012: 12
| This organization: | 12 |
| Other organizations performing similar types of work: | 3 |
Grants share in income in 2012: 0.0%
| Vannguard Local Development Corporation: | 0.0% |
| Other organizations performing similar types of work: | 35.8% |
| 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 | $20,668 |
| Contributions, Gifts, Grants and Other Similar Amounts | $0 |
| 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 | $20,668 |
| Gross rents (Real / Personal) | $20,668 / $0 |
| Less: rental expenses (Real / Personal) | $0 / $0 |
| Rental income or (loss) (Real / Personal) | $20,668 / $0 |
| Net gain from sales of assets other than inventory | $0 |
| Net income from fundraising events | $0 |
| Net income from gaming activities | $0 |
| Net income from sales of inventory | $0 |
| Miscellaneous Revenue | $0 |
| Statement of Functional Expenses (for 2012) | |
| Total functional expenses | $202,403 |
| Compensation of current officers, directors, trustees, and key employees | $0 |
| Other salaries and wages | $0 |
| Payroll taxes | $0 |
| Professional fundraising services | $0 |
| Other | $202,403 |
| Balance Sheet (for 2012) | |
| Total assets | $1,066,704 |
| Total liabilities | $1,003,676 |
| Tax-exempt bond liabilities | $0 |
| Secured mortgages and notes payable to unrelated third parties | $0 |
| Unsecured notes and loans payable to unrelated third parties | $800,000 |
| Other | $203,676 |
| Total net assets or fund balances | $63,028 |
| 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 | $707,817 |
| 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 | $707,817 |
| 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 | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | University Heights Science And Technology Park Inc | 65 Bergen Street, Newark, NJ 07107-3001 | NJ | 1993-09 | $1,678,020 |
| 2 | Griffiss Local Development Corporation | 584 Phoenix Dr, Rome, NY 13441-4913 | NY | 1995-03 | $7,910,116 |
| 3 | Harlem Commonwealth Council Inc | 361 West 125th Street 4th Floor, New York, NY 10027-4843 | NY | 1997-04 | $2,348,159 |
| 4 | Staten Island Economic Development Corporation | 900 South Ave Ste 402, Staten Island, NY 10314-3429 | NY | 1994-03 | $1,657,591 |
| 5 | Queens Economic Development Corporation | 12055 Queens Blvd Rm 309, Kew Gardens, NY 11424-1015 | NY | 1977-12 | $1,603,459 |
| 6 | Village Alliance District Management Association Inc | 8 East 8th Street, New York, NY 10003-5915 | NY | 1994-11 | $1,065,643 |
| 7 | 82nd St District Management Association | 37-06 82 Street, Jackson Heights, NY 11372-7017 | NY | 1993-06 | $338,577 |
| 8 | Applied Technology Center Corporation | 510 Grumman Rd W, Bethpage, NY 11714-3631 | NY | 1997-09 | $121,473 |
| 9 | Empire State Advantage Inc | 98 Lomb Memorial Dr, Rochester, NY 14623-5604 | NY | 1993-07 | $84,112 |
| 10 | Owego Marketplace Inc | PO BOX 425, Owego, NY 13827-0425 | NY | 1978-04 | $68,465 |
| 11 | Regional Economic Development & Energy Corporation | 8 Denison Pkwy E Ste 403, Corning, NY 14830-2636 | NY | 1981-02 | $57,270 |
| 12 | Vannguard Local Development Corporation | 613-619 George Glee Jr Way 3fl, Brooklyn, NY 11216 | NY | 1997-05 | $20,668 |
| 13 | Hudson Development Corporation | 1 N Front St, Hudson, NY 12534-2001 | NY | 1984-12 | $7,320 |
| 14 | Brooklyn Goes Global Inc | 25 Elm Pl Ste 200, Brooklyn, NY 11201-5826 | NY | 1996-09 | $0 |
| 15 | Center For Neighborhood Economic Development Inc | 2910 Thomson Ave Fl 9, Long Is City, NY 11101-2940 | NY | 1994-03 | $0 |
| 16 | Flatbush East Community Development Corp | 1814 Nostrand Ave, Brooklyn, NY 11226-7132 | NY | 1982-11 | $0 |
| 17 | Flatbush Gateway Community Development Corp | 2211 Church Ave Ste 302, Brooklyn, NY 11226-3279 | NY | 1995-05 | $0 |
| 18 | New Rochelle Overall Economic Development Corp | 515 North Ave, New Rochelle, NY 10801-3405 | NY | 1995-10 | $0 |
| 19 | Oneida County Job Development Corporation | 153 Brooks Rd, Rome, NY 13441-4105 | NY | 1997-03 | $0 |
| 20 | Plattsburgh City Local Development Corporation Inc | 41 City Hall Place, Plattsburgh, NY 12901 | NY | 1997-01 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 235 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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