Downtown Farmville in Farmville, Virginia (VA)

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Downtown Farmville
Employer Identification Number (EIN)452018548
Name of OrganizationDowntown Farmville
In Care of NameJARROD FERGESON
Address121 E Third St, Farmville, VA 23901
SubsectionCharitable Organization
Ruling Date02/2014
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 Period2012
Assets$25,000 to $99,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$48,173
Amount of Income$111,966
Form 990 Revenue Amount$111,966
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Urban, Community Economic Development


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Amount of income in 2012: $111,966 (it was $111,966 in 2013)
This organization: 

 $111,966
Other organizations performing similar types of work: 

 $141,217

Assets in 2012: $48,173 (it was $48,173 in 2013)
This organization: 

 $48,173
Other organizations performing similar types of work: 

 $121,026

Expenses in 2013: $89,406
Downtown Farmville: 

 $89,406
Other organizations performing similar types of work: 

 $118,087

Income to expenses ratio in 2013: 1.3
This organization: 

 1.3
Other organizations performing similar types of work: 

 1.6

Grants share in income in 2013: 86.4%
This organization: 

 86.4%
Other organizations performing similar types of work: 

 87.4%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2013
Total revenue$111,966
Contributions, gifts, grants, and similar amounts received$96,770
Program service revenue including government fees and contracts$15,120
Membership dues and assessments$0
Investment income$76
Gain/Loss from sale of assets other than inventory$0
Net income/loss from gaming and fundraising events$0
Gross profit/loss from sales of inventory$0
Other revenue$0
Total expenses$89,406
Total net assets$47,333
Excess/Deficit for the year$22,560
Net assets or fund balances at beginning of year$24,773
Other changes in net assets or fund balances$0
Net assets or fund balances at end of year$47,333
Balance Sheets
2013
Total assets$48,173
Total liabilities$840
Net assets or fund balances$47,333
Other Information
2013
Did the organization engage in any significant activity not previously reported to the IRS?No
Were any significant changes made to the organizing or governing documents?No
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNo
Has the organization filed a Form 990-T for the year?No
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?No
Amount of political expenditures, direct or indirect$0
Did the organization file Form 1120-POL for this year?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
Total amount involved$0
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$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
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
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$148,825
Subtotal Support$148,825
Gifts, grants, contributions, and membership fees received$148,825
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$148,912
Public Support$148,825
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$87
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.$15,196
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Ventura County Community Development Corporation2231 Sturgis Rd Unit A, Oxnard, CA 93030-7813CA2003-05$5,683,551
2Venture Richmond Inc200 S 3rd St Ste 2 Ste 960, Richmond, VA 23219-3700VA1982-08$5,826,607
3Redc Community Capital Group Incorporated413 Stuart Cir Unit 320, Richmond, VA 23220-3754VA1995-08$767,907
4Staunton Creative Community Fund Inc10 Byers St, Staunton, VA 24401-4226VA2008-05$221,244
5Phoenix Community Development CorporationSuite A, Martinsville, VA 24112VA2011-01$194,087
6Downtown Farmville121 E Third St, Farmville, VA 23901VA2014-02$111,966
7Storefront For Community Design, Storefront1001 N 25th Street, Richmond, VA 23223VA2013-02$76,465
8Light Rail Now Inc5101 Cleveland Street Suite 202, Virginia Beach, VA 23462VA2010-08$10,627
939 East Inc887 Garrow Rd, Newport News, VA 23608-3387VA2004-05$1
10Meherrin Development Corp Inc13413 Prince George Dr, Disputanta, VA 23842VA2003-04$1
11African Peoples Action Congress, African Pac Inc14001c Saint Germain Drive Suite 423, Centreville, VA 20121VA2006-06$0
12Association For Small Business Entrepreneurs Of Chesterfield416 N Sycamore St, Petersburg, VA 23803-3232VA2004-04$0
13Business Seed Capital IncP O Box 2868, Roanoke, VA 24001VA2004-03$0
14Christian Community Development International Inc420 Glasgow St, Portsmouth, VA 23704-2504VA1999-07$0
15Community Assoc Of Resources Education And EnrichmentPo Box 6361, Arlington, VA 22206-0361VA1996-10$0
16Equal Share Inc2248 Holly Hill Farm, Crozet, VA 22932VA2003-09$0
17Galax Future Inc111 E Grayson St, Galax, VA 24333-2903VA2010-04$0
18Hampton Business Incentives Corporation1 Franklin St Ste 601, Hampton, VA 23669-3579VA1998-03$0
19Hampton Roads Economic Development Foundation, EdfPO BOX 7022, Chesapeake, VA 23323-0227VA2007-12$0
20Kingdom ResourcesPO BOX 9268, Hampton, VA 23670-0268VA2010-03$0
Number of organizations performing similar types of work
Alaska2
Alabama36
Arkansas9
Arizona16
California121
Colorado26
Connecticut22
District of Columbia16
Delaware6
Florida53
Georgia54
Hawaii10
Iowa18
Idaho7
Illinois68
Indiana30
Kansas9
Kentucky18
Louisiana32
Massachusetts22
Maryland45
Maine10
Michigan54
Minnesota10
Missouri35
Mississippi17
Montana9
North Carolina65
North Dakota5
Nebraska6
New Hampshire8
New Jersey38
New Mexico14
Nevada6
New York135
Ohio94
Oklahoma18
Oregon18
Pennsylvania93
Rhode Island2
South Carolina34
South Dakota10
Tennessee36
Texas74
Utah5
Virginia30
Vermont9
Washington29
Wisconsin30
West Virginia14
Wyoming3
International7
Total1,538

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