Alto Economic Development Corporation in Alto, Texas (TX)

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Alto Economic Development Corporation
Employer Identification Number (EIN)270925328
Name of OrganizationAlto Economic Development Corporation
In Care of NameCarey Palmer
AddressPO BOX 7, Alto, TX 75925-0007
SubsectionCharitable Organization
Ruling Date08/2010
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$25,000 to $99,999
Income$25,000 to $99,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$98,024
Amount of Income$57,981
Form 990 Revenue Amount$57,981
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Economic Development


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Amount of income in 2013: $57,981 (it was $58,426 in 2012)
Alto Economic Development Corporation: 

 $57,981
Other organizations performing similar types of work: 

 $135,279

Assets in 2013: $98,024 (it was $86,760 in 2012)
This organization: 

 $98,024
Other organizations performing similar types of work: 

 $114,906

Expenses in 2013: $46,552
This organization: 

 $46,552
Other organizations performing similar types of work: 

 $121,073

Income to expenses ratio in 2013: 1.2
This organization: 

 1.2
Other organizations performing similar types of work: 

 1.4

Grants share in income in 2013: 100.0%
Alto Economic Development Corporation: 

 100.0%
Other organizations performing similar types of work: 

 8.8%

Financial snapshot ($)

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
Total revenue$58,448$58,426$57,981
Contributions, gifts, grants, and similar amounts received$17,986$58,426$57,981
Program service revenue including government fees and contracts$40,462$0$0
Membership dues and assessments$0$0$0
Investment income$0$0$0
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$0$0$0
Gross profit/loss from sales of inventory$0$0$0
Other revenue$0$0$0
Total expenses$34,480$54,885$46,552
Total net assets$81,191$85,803$97,928
Excess/Deficit for the year$23,968$3,541$11,429
Net assets or fund balances at beginning of year$57,415$81,191$85,803
Other changes in net assets or fund balances$-192$1,071$696
Net assets or fund balances at end of year$85,803$97,928
Balance Sheets
201120122013
Total assets$83,449$86,760$98,024
Total liabilities$2,258$957$96
Net assets or fund balances$81,191$85,803$97,928
Other Information
201120122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
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?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities$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?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
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)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$151,707
Subtotal Support$151,707
Gifts, grants, contributions, and membership fees received$151,707
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
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$0
Total Support$151,707
Public Support$151,707
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$0
Gross receipts from related activities, etc.$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1West River Foundation For Economic And Community DevelopmentPO BOX 605, Sturgis, SD 57785-0605SD2000-10$1,093,865
2Whole Planet Foundation550 Bowie St, Austin, TX 78703-4644TX2007-07$12,991,792
3Galveston Port Facilities Corporation123 Rosenberg 8th Flr, Galveston, TX 77550-1403TX2005-03$8,492,729
4San Antonio Economic Development Corporation100 Military Plz, San Antonio, TX 78205-2425TX2014-09$3,066,006
5Greater San Marcos Economic Development Corporation202 N C M Allen Pkwy, San Marcos, TX 78666-5732TX2010-08$1,147,239
6Taylor Economic DevelopmentPO BOX 975, Taylor, TX 76574-0975TX1995-04$918,059
7Wharton Economic Development Corp1944 N Fulton St, Wharton, TX 77488-2845TX2001-11$706,572
8Anna Community Development CorporationPO BOX 776, Anna, TX 75409-0776TX2011-06$394,370
9Anna Economic Development CorporationPO BOX 776, Anna, TX 75409-0776TX2011-03$372,375
10West Columbia Economic Development CorporationPO BOX 487, West Columbia, TX 77486-0487TX2002-10$343,479
11Promote Houston Ship Channel 2014 Inc111 East Loop N, Houston, TX 77029-4326TX2014-04$300,000
12Downtown Amarillo IncPO BOX 15108, Amarillo, TX 79105-5108TX2011-08$290,431
13Lake Highlands Improvement District Corporation9090 Skillman 182-A Pmb 101, Dallas, TX 75243-8278TX2011-01$261,566
14Row House Community DevelopmentPO BOX 14091, Houston, TX 77221-4091TX2004-01$240,562
15The City Of Refuge Of Houston Inc4170 W Greens Rd, Houston, TX 77066-4850TX2000-11$231,403
16Knox Street Improvement District Corporation8115 Preston Road, Dallas, TX 75225-6330TX2011-07$204,089
17United Brownsville Coordinating Board Inc1301 E Madison St, Brownsville, TX 78520-5757TX2012-01$203,095
18Mannaworks, Sharefest WacoPO BOX 5383, Waco, TX 76708-0383TX2010-02$185,765
19501 Procter Street Inc4173 39th St, Port Arthur, TX 77642-2227TX2014-09$183,286
20Tye Industrial Development Corporation Inc, TidcoPO BOX 125, Tye, TX 79563-0125TX2006-08$164,504
Number of organizations performing similar types of work
Alaska23
Alabama64
Arkansas29
Arizona41
California299
Colorado47
Connecticut39
District of Columbia35
Delaware8
Florida134
Georgia71
Hawaii27
Iowa63
Idaho15
Illinois108
Indiana79
Kansas46
Kentucky50
Louisiana73
Massachusetts46
Maryland54
Maine37
Michigan101
Minnesota55
Missouri99
Mississippi38
Montana36
North Carolina125
North Dakota13
Nebraska37
New Hampshire25
New Jersey61
New Mexico41
Nevada16
New York213
Ohio149
Oklahoma39
Oregon51
Pennsylvania173
Rhode Island6
South Carolina63
South Dakota34
Tennessee56
Texas168
Utah17
Virginia62
Vermont16
Washington47
Wisconsin61
West Virginia39
Wyoming14
International10
Total3,253

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