Central Oklahoma Business & Job Dev in Drumright, Oklahoma (OK)

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Central Oklahoma Business & Job Dev
Employer Identification Number (EIN)731336633
Name of OrganizationCentral Oklahoma Business & Job Dev
In Care of NameWALTER KRUSE
Address201 Settle Drive, Drumright, OK 74030
ActivitiesOther business or professional group
SubsectionCharitable Organization
Ruling Date11/1989
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period2011
Assets$500,000 to $999,999
Income$10,000 to $24,999
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$508,789
Amount of Income$23,617
Form 990 Revenue Amount$23,617
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Single Organization Support


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Amount of income in 2011: $23,617
Central Oklahoma Business & Job Dev: 

 $23,617
Other organizations performing similar types of work: 

 $7,370,772

Assets in 2011: $508,789
Central Oklahoma Business & Job Dev: 

 $508,789
Other organizations performing similar types of work: 

 $26,018,213

Expenses in 2012: $38,157
Central Oklahoma Business & Job Dev: 

 $38,157
Other organizations performing similar types of work: 

 $2,570,274

Income to expenses ratio in 2012: 0.6
Central Oklahoma Business & Job Dev: 

 0.6
Other organizations performing similar types of work: 

 2.5

Expenses allocated to program services in 2001: 80.6%
This organization: 

 80.6%
Other organizations performing similar types of work: 

 84.4%

Grants share in income in 2012: 0.0%
Central Oklahoma Business & Job Dev: 

 0.0%
Other organizations performing similar types of work: 

 27.0%

Financial snapshot ($)

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$36,297
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$-2,193
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$38,490
Gross rents (Real / Personal)$38,490 / $0
Less: rental expenses (Real / Personal)$0 / $0
Rental income or (loss) (Real / Personal)$38,490 / $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$38,157
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$38,157
Balance Sheet (for 2012)
Total assets$516,556
Total liabilities$0
Total net assets or fund balances$516,556
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$217,617
Gifts, grants, contributions, and membership fees received$212,200
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$5,417
Gross receipts from related activities, etc.$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001
Total revenue$19,619$31,516
Contributions, gifts, grants, and similar amounts received$0$0
Contributions to donor advised funds
Direct public support$0$0
Indirect public support$0$0
Government contributions (grants)$0$0
Program service revenue including government fees and contracts$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$6,697$2,516
Dividends and interest from securities$0$0
Net rental income or (loss)$12,922$29,000
Gross rents$39,040$29,000
Less: rental expenses$26,118$0
Other investment income$0$0
Gain or (loss) from sales of assets other than inventory$0$0
Gross amount from sales of assets other than inventory$0$0
Less: cost or other basis and sales expenses$0$0
Net income or (loss) from special events and activities$0$0
Gross revenue$0$0
Less: direct expenses other than fundraising expenses$0$0
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$0$0
Total expenses$23,272$52,225
Program services$21,420$42,083
Management and general$1,852$10,142
Fundraising$0$0
Payments to affiliates$0$0
Net assets or fund balances at end of year$634,250$613,541
Excess or (deficit) for the year$-3,653$-20,709
Net assets or fund balances at beginning of year$637,903$634,250
Other changes in net assets or fund balances$0$0
Statement of Functional Expenses (for 2001)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$52,225$42,083$10,142$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$6,869$6,869$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$525$525$0$0
Professional fundraising fees$1,450$0$1,450$0
Accounting fees$0$0$0$0
Legal fees$1,449$0$1,449$0
Supplies$272$36$236$0
Telephone$5,118$0$5,118$0
Postage and shipping$0$0$0$0
Occupancy$34,653$34,653$0$0
Equipment rental and maintenance$960$0$960$0
Printing and publications$0$0$0$0
Travel$26$0$26$0
Conferences, conventions, and meetings$668$0$668$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$235$0$235$0
Balance Sheets
20002001
Total assets$634,353$613,617
Cash - non-interest-bearing$1,369$2,378
Savings and temporary cash investments$125,558$116,324
Accounts receivable less allowance for doubtful accounts$0$0
Pledges receivable less allowance for doubtful accounts$0$0
Grants receivable$0$0
Receivables from current and former officers, directors, trustees, and key employees$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$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$0$0
Investments - publicly-traded securities
Investments - other securities$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$494,915
Investments - other$0$0
Land, buildings, and equipment less accumulated depreciation$507,426$0
Other assets, including program-related investments$0$0
Total liabilities$103$76
Accounts payable and accrued expenses$103$76
Grants payable$0$0
Deferred revenue$0$0
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$0$0
Other liabilities$0$0
Total liabilities and net assets/fund balances$634,353$613,617
Total net assets or fund balances$634,250$613,541
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001
Total revenue$0$0
Total revenue, gains, and other support per audited financial statements$0$0
Other expenses$0$0
Net unrealized gains on investments$0$0
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$0$0
Other revenue$0$0
Investment expenses$0$0
Other$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001
Total expenses$0$0
Total expenses and losses per audited financial statements$0$0
Other revenue$0$0
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$0$0
Other expenses$0$0
Investment expenses$0$0
Other$0$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?No
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, 20061
Analysis of Income-Producing Activities (for 2001)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$31,516
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
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$000$0$0
Dividends and interest from securities000000$000$0$2,516
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$29,000
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$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2001)
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 2001)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2001)
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 receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000
Total$44,303$45,737
Gifts, grants, and contributions received$0$0
Membership fees received$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$39,631$39,040
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$4,672$6,697
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$0$0
Lobbying Expenditures by Electing Public Charities (for 2001)
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
1Oklahoma State University Foundation400 S Monroe St, Stillwater, OK 74074-3322OK1963-01$462,368,130
2University Of Oklahoma Foundation Inc100 Timberdell Road, Norman, OK 73019-5016OK1955-12$267,719,491
3Southwestern Oklahoma State University Foundation Inc100 Campus Dr, Weatherford, OK 73096-3001OK1978-01$7,747,521
4Southeastern FoundationPO BOX 4187, Durant, OK 74701OK1968-01$6,496,440
5Rogers State University Foundation1701 W Will Rogers Blvd, Claremore, OK 74017-3259OK1974-06$4,164,949
6Sand Springs Education Foundation IncPO BOX 637, Sand Springs, OK 74063-0637OK1989-11$668,705
7Owasso Education Foundation Inc1501 N Ash St, Owasso, OK 74055-4920OK1991-05$151,326
8Central Oklahoma Business & Job Dev201 Settle Drive, Drumright, OK 74030OK1989-11$23,617
9Friends Of Imagine International Academy Of North Texas5100 W Eldorado Parkway Ste 102-589, Mckinney, TX 75070TX2009-09$7,669,453
10Cascia Hall Foundation2520 S Yorktown Ave, Tulsa, OK 74114-2809OK1999-09$6,866,926
11Royal Arch Research Assistance IncPO BOX 128, Greenfield, IN 46140-0128IN1975-02$3,764,269
12Langston University Foundation311 Page Hall, Langston, OK 73050OK2008-06$2,764,355
13University Metro Town Center Endowment Inc9201 University City Blvd, Charlotte, NC 28223-0001NC1982-11$1,563,501
14Fond Du Lac Area Catholic Education Foundation Inc255 County Road K, Fond Du Lac, WI 54937-8162WI2001-05$978,222
15Auld Public Library Foundation537 N Webster St, Red Cloud, NE 68970-2421NE1999-12$643,901
16Round Top Library Association IncPO BOX 245, Round Top, TX 78954-0245TX1999-10$221,005
17Uu World Of Children1135 State Park Rd, Greenville, SC 29609-1518SC2007-04$215,918
18Gandhi Medical College Global Alliance Inc540 Morningside Drive, Crown Point, IN 46307IN2006-04$149,058
19Rockenbaugh Elementary School Parent Teacher Organization700 Chaucer Ct, Southlake, TX 76092-8926TX1999-02$120,008
20Central Junior High Parent Teacher OrganizationPO BOX 970, Sand Springs, OK 74063-0970OK2000-10$0
Number of organizations performing similar types of work
Alaska1
Alabama13
Arkansas8
Arizona5
California78
Colorado11
Connecticut7
District of Columbia6
Delaware5
Florida38
Georgia18
Hawaii2
Iowa15
Idaho6
Illinois33
Indiana13
Kansas16
Kentucky17
Louisiana12
Massachusetts19
Maryland10
Maine2
Michigan15
Minnesota17
Missouri7
Mississippi4
Montana5
North Carolina30
North Dakota4
Nebraska5
New Hampshire2
New Jersey12
New Mexico6
Nevada2
New York42
Ohio32
Oklahoma11
Oregon7
Pennsylvania19
Rhode Island6
South Carolina8
South Dakota2
Tennessee8
Texas52
Utah4
Virginia29
Washington10
Wisconsin15
West Virginia6
Wyoming2
International4
Total701

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