Acenet Ventures Inc in Athens, Ohio (OH)
Table of contents:
| Acenet Ventures Inc | |
| Employer Identification Number (EIN) | 311688567 |
| Name of Organization | Acenet Ventures Inc |
| In Care of Name | June Holley |
| Address | 94 Columbus Rd, Athens, OH 45701-1312 |
| Subsection | Charitable Organization |
| Ruling Date | 09/2002 |
| Deductibility | Contributions are deductible |
| Foundation | Organizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $100,000 to $499,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $375,789 |
| Amount of Income | $89,399 |
| Form 990 Revenue Amount | $89,399 |
| National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Urban, Community Economic Development |
Non-representatives - add comments:
Amount of income in 2013: $89,399 (it was $21,545 in 2012)
| This organization: | $89,399 |
| Other organizations performing similar types of work: | $738,131 |
Assets in 2013: $375,789 (it was $359,392 in 2012)
| This organization: | $375,789 |
| Other organizations performing similar types of work: | $2,863,992 |
Expenses in 2013: $70,006
| This organization: | $70,006 |
| Other organizations performing similar types of work: | $653,069 |
Income to expenses ratio in 2013: 1.3
| Acenet Ventures Inc: | 1.3 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2013: 82.8%
| Acenet Ventures Inc: | 82.8% |
| Other organizations performing similar types of work: | 37.7% |
Revenue for 2013
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||||
| 2010 | 2011 | 2012 | 2013 | |
|---|---|---|---|---|
| Total revenue | $33,987 | $23,327 | $21,545 | $89,399 |
| Contributions, gifts, grants, and similar amounts received | $0 | $0 | $0 | $74,000 |
| Program service revenue including government fees and contracts | $4,141 | $917 | $125 | $615 |
| Membership dues and assessments | $0 | $0 | $0 | $0 |
| Investment income | $29,846 | $22,410 | $21,420 | $14,784 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 | $0 |
| Other revenue | $0 | $0 | $0 | $0 |
| Total expenses | $129,894 | $46,543 | $27,704 | $70,006 |
| Total net assets | $-37,744 | $-60,960 | $-67,119 | $-47,726 |
| Excess/Deficit for the year | $-95,907 | $-23,216 | $-6,159 | $19,393 |
| Net assets or fund balances at beginning of year | $58,163 | $-37,744 | $-60,960 | $-67,119 |
| Other changes in net assets or fund balances | $0 | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $-67,119 | $-47,726 | ||
| Balance Sheets | ||||
| 2010 | 2011 | 2012 | 2013 | |
|---|---|---|---|---|
| Total assets | $425,404 | $404,140 | $359,392 | $375,789 |
| Total liabilities | $463,148 | $465,100 | $426,511 | $423,515 |
| Net assets or fund balances | $-37,744 | $-60,960 | $-67,119 | $-47,726 |
| Other Information | ||||
| 2010 | 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 | 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 | $0 |
| Gross receipts for public use of club facilities | $0 | $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 organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2) |
| Number of organizations supported | 1 |
| Sum of amounts of support | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Gateway Economic Development Corporation Of Greater Cleveland | 758 Bolivar Rd, Cleveland, OH 44115-1222 | OH | 1992-06 | $19,084,226 |
| 2 | Capitol South Community Urban Redevelopment Corporation | 150 S Front St Ste 210, Columbus, OH 43215-7105 | OH | 1976-03 | $9,254,727 |
| 3 | Hcdc Inc | 1776 Mentor Ave, Cincinnati, OH 45212-3554 | OH | 1988-06 | $2,418,455 |
| 4 | Bellvue Gardens Community Urban Redevelopment Corporation | 260 Stetson Street, Cincinnati, OH 45219-2498 | OH | 2000-01 | $1,687,512 |
| 5 | Shorebank Enterprise Group Cleveland | 540 E 105th Street, Cleveland, OH 44108-4301 | OH | 1994-05 | $738,131 |
| 6 | Community Improvement Corporation | 16 State St, Gallipolis, OH 45631-1104 | OH | 1979-09 | $66,084 |
| 7 | Community Improvement Corporation Of Cuyahoga Falls Ohio | 2310 2nd St, Cuyahoga Fls, OH 44221-2530 | OH | 1994-04 | $3,934 |
| 8 | Downtown Cincinnati Inc | 35 E 7th St Ste 202, Cincinnati, OH 45202-2420 | OH | 1994-08 | $3,009,531 |
| 9 | Union County Economic Development Corp | 75 Chestnut St, Cranford, NJ 07016-2937 | NJ | 1979-04 | $2,780,218 |
| 10 | Downtown Dayton Partnership Corp | 10 W 2nd St Ste 611, Dayton, OH 45402-1792 | OH | 1993-08 | $1,584,574 |
| 11 | Rock Hill Economic Development Corporation | PO BOX 11706, Rock Hill, SC 29731-1706 | SC | 1984-01 | $1,413,791 |
| 12 | Sobro Development Corporation | 555 Bergen Ave, Bronx, NY 10455-1368 | NY | 1983-06 | $671,663 |
| 13 | Midtown Cleveland | 5000 Euclid Ave Ste 100, Cleveland, OH 44103-3752 | OH | 1983-05 | $617,349 |
| 14 | Watertown Industrial Center Local Development Corporation | 800 Starbuck Avenue, Watertown, NY 13601-1659 | NY | 1995-02 | $470,496 |
| 15 | The Downtown Shareholders Of Kansas City Kansas Inc | 726 Armstrong Ave, Kansas City, KS 66101-2702 | KS | 2008-03 | $456,374 |
| 16 | Ulster County Development Corporation | 5 Development Ct, Kingston, NY 12401-1949 | NY | 1981-03 | $114,394 |
| 17 | Superior Development Corporation | 354 N Commercial Ave, Superior, NE 68978-1724 | NE | 2006-03 | $78,567 |
| 18 | Schenectady Local Development Corp | 105 Jay St, Schenectady, NY 12305-1905 | NY | 1991-03 | $71,135 |
| 19 | Rediscover Napoleon-Why Not | 733 N Perry St, Napoleon, OH 43545-1544 | OH | 2008-07 | $0 |
| 20 | Roselawn Community Urban Re-Development Corporation | Po Box 37609, Cincinnati, OH 45222 | OH | 2009-06 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 155 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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