Abingdon Main Street Inc in Abingdon, Virginia (VA)

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Abingdon Main Street Inc
Employer Identification Number (EIN)260873176
Name of OrganizationAbingdon Main Street Inc
In Care of NameSusan Howard
AddressPO BOX 1231, Abingdon, VA 24212-1231
SubsectionCharitable Organization
Ruling Date09/2008
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 Period06/2014
Assets$10,000 to $24,999
Income$25,000 to $99,999
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$14,680
Amount of Income$42,156
Form 990 Revenue Amount$10,747
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Economic Development


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Amount of income in 2014: $42,156 (it was $68,316 in 2013)
Abingdon Main Street Inc: 

 $42,156
Other organizations performing similar types of work: 

 $135,279

Assets in 2014: $14,680 (it was $27,549 in 2013)
Abingdon Main Street Inc: 

 $14,680
Other organizations performing similar types of work: 

 $114,906

Expenses in 2013: $71,958
This organization: 

 $71,958
Other organizations performing similar types of work: 

 $121,073

Income to expenses ratio in 2013: 0.6
This organization: 

 0.6
Other organizations performing similar types of work: 

 1.4

Grants share in income in 2013: 97.2%
Abingdon Main Street Inc: 

 97.2%
Other organizations performing similar types of work: 

 8.8%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2010201120122013
Total revenue$41,169$56,202$94,103$68,316
Contributions, gifts, grants, and similar amounts received$10,250$55,085$90,995$66,402
Program service revenue including government fees and contracts$33,900$0$0$0
Membership dues and assessments$1,125$0$465$0
Investment income$0$0$0$0
Gain/Loss from sale of assets other than inventory$0$0$0$0
Net income/loss from gaming and fundraising events$-4,106$1,117$2,643$1,914
Gross income from gaming$0$0$0$0
Gross income from fundraising events$5,200$8,447$11,444$14,484
Less: direct expenses from gaming and fundraising events$9,306$7,330$8,801$12,570
Gross profit/loss from sales of inventory$0$0$0$0
Other revenue$0$0$0$0
Total expenses$15,866$60,261$95,485$71,958
Total net assets$33,112$29,053$29,972$26,330
Excess/Deficit for the year$25,303$-4,059$-1,382$-3,642
Net assets or fund balances at beginning of year$7,809$33,112$29,053$29,972
Other changes in net assets or fund balances$0$0$2,301$0
Net assets or fund balances at end of year$29,972$26,330
Balance Sheets
2010201120122013
Total assets$37,667$34,341$33,115$27,549
Total liabilities$4,555$5,288$3,143$1,219
Net assets or fund balances$33,112$29,053$29,972$26,330
Other Information
2010201120122013
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 activitiesNoNoNoNo
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$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?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: (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
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$317,843
Subtotal$317,843
Gifts, grants, contributions, and membership fees received$265,593
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$52,250
Gross receipts from activities that are not an unrelated trade or business under section 513$0
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
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$317,843
Public support$317,843
Subtotal$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$0
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$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
2West Piedmont Workforce Investment Board300 Franklin St Ste 241, Martinsville, VA 24112-2176VA2003-03$2,896,810
3Martinsvill-Henry County Economic Development CorporationPO BOX 631, Martinsville, VA 24114-0631VA2008-09$2,836,903
4Local Food HubPO BOX 4647, Charlottesvle, VA 22905-4647VA2010-06$1,662,908
5The Launch Place527 Bridge Street Suite 200, Danville, VA 24541-1405VA2005-11$1,433,070
6Virginias Gateway Region Inc256 E Ellerslie Ave Ste D, Colonial Hgts, VA 23834-1407VA2005-01$584,670
7Round The Mountain Southwest Virginias Artisan Network1 Heartwood Cir, Abingdon, VA 24210-8398VA2006-03$495,917
8Community Knights Inc7 Woodcreek Ct, Hampton, VA 23666-2189VA2013-01$470,322
9Community Investment CollaborativePO BOX 2976, Charlottesvle, VA 22902-2976VA2012-06$350,043
10Virginia Highlands Small Business Incubator851 French Moore Jr Blvd, Abingdon, VA 24210-4738VA2002-06$306,627
11Peninsula Technology Incubator100 Exploration Way, Hampton, VA 23666-6266VA2014-05$285,368
12Virginia Economic Bridge26 Crestview Dr, Radford, VA 24141-3617VA1996-01$155,532
13Hopewell Downtown Partnership Inc205 1/2 E Broadway Ave Ste 1, Hopewell, VA 23860VA2010-09$72,500
14Shenandoah Valley Incubator Technology Center Inc50 Lodge Ln Ste 114, Verona, VA 24482-9400VA2000-06$69,544
15Southwest Regional Enterprise Center Inc1117 E Stuart Drive, Galax, VA 24333-2656VA2002-04$48,511
16Abingdon Main Street IncPO BOX 1231, Abingdon, VA 24212-1231VA2008-09$42,156
17Virginias River CountryPO BOX 286, Saluda, VA 23149-0286VA1999-07$30,339
18Virginia Downtown Development Association2231 Dale Bay Ln, Henrico, VA 23233VA1997-11$18,912
19United Professionals Inc1078 N Turnberry, Williamsburg, VA 23188VA2008-08$11,994
20Downtown Danville Association635 Main St, Danville, VA 24541VA2002-03$5,966
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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