Common Wealth Inc in Youngstown, Ohio (OH)
| Common Wealth Inc |
| Employer Identification Number (EIN) | 341517533 |
| Name of Organization | Common Wealth Inc |
| Address | 1221 Elm St, Youngstown, OH 44505-2849 |
| Activities | Attracting new industry or retaining industry in an area |
| Subsection | Charitable Organization |
| Ruling Date | 04/1987 |
| 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 | 12/2012 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $4,127,637 |
| Amount of Income | $423,008 |
| Form 990 Revenue Amount | $354,059 |
| National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Economic Development |
Amount of income in 2012: $423,008 (it was $1,609,314 in 2011)
| Common Wealth Inc: | $423,008 |
| Other organizations performing similar types of work: | $423,008 |
Assets in 2012: $4,127,637 (it was $2,339,660 in 2011)
| This organization: | $4,127,637 |
| Other organizations performing similar types of work: | $1,422,589 |
Expenses in 2012: $392,895
| This organization: | $392,895 |
| Other organizations performing similar types of work: | $392,895 |
Income to expenses ratio in 2012: 1.1
| This organization: | 1.1 |
| Other organizations performing similar types of work: | 1.7 |
Number of employees in 2012: 12
| This organization: | 12 |
| Other organizations performing similar types of work: | 28 |
Grants share in income in 2012: 36.0%
| Common Wealth Inc: | 36.0% |
| Other organizations performing similar types of work: | 36.0% |
Functional expenses for 2012
| 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 | $354,059 |
| Contributions, Gifts, Grants and Other Similar Amounts | $127,480 |
| Program Service Revenue | $230,564 |
| Other Revenue |
| Investment income (including dividends, interest, and other similar amounts) | $4,965 |
| Income from investment of tax-exempt bond proceeds | $0 |
| Royalties | $0 |
| Net rental loss | $-8,950 |
| Gross rents (Real / Personal) | $59,999 / $0 |
| Less: rental expenses (Real / Personal) | $68,949 / $0 |
| Rental income or (loss) (Real / Personal) | $-8,950 / $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 | $392,895 |
| Compensation of current officers, directors, trustees, and key employees | $88,604 |
| Other salaries and wages | $146,613 |
| Payroll taxes | $24,224 |
| Professional fundraising services | $0 |
| Other | $133,454 |
| Balance Sheet (for 2012) |
| Total assets | $4,127,637 |
| Total liabilities | $1,828,917 |
| Tax-exempt bond liabilities | $0 |
| Secured mortgages and notes payable to unrelated third parties | $0 |
| Unsecured notes and loans payable to unrelated third parties | $1,708,906 |
| Other | $120,011 |
| Total net assets or fund balances | $2,298,720 |
| 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 a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi) |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2012) |
| 2008 - 2012 Total |
|---|
| Total Support | $973,221 |
| Gifts, grants, contributions, and membership fees received | $883,844 |
| 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 | $89,377 |
| Gross receipts from related activities, etc. | $0 |
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| Organizations performing similar types of work |
| Id | Name | Address | State | Established | Total Income |
|---|
| 1 | Manning Betterment Foundation | PO BOX 325, Manning, IA 51455-0325 | IA | 1995-04 | $502,552 |
| 2 | Common Wealth Inc | 1221 Elm St, Youngstown, OH 44505-2849 | OH | 1987-04 | $423,008 |
| 3 | South Central Development Company | 135 N High St, Hillsboro, OH 45133-1157 | OH | 1998-01 | $67,938 |
| 4 | Lillian J Robinson Community Development Corporation | PO BOX 5956, Bryan, TX 77805-5956 | TX | 1995-10 | $0 |
| 5 | Pioneer Development Ltd | 620 5th Ave Fl 3, New York, NY 10020-2402 | NY | 1998-10 | $0 |
| Number of organizations performing similar types of work |
| |
| Total | 5 |
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