Lynchburg Area Development Corp Attn Richard Worthington in Lynchburg, Virginia (VA)

Lynchburg Area Development Corp Attn Richard Worthington
Employer Identification Number (EIN)	546052418
Name of Organization	Lynchburg Area Development Corp Attn Richard Worthington
In Care of Name	RICHARD WORTHINGTON
Address	919 Main Street, Lynchburg, VA 24504
Website	N/A
Activities	Attracting new industry or retaining industry in an area
Subsection	Business League
Ruling Date	06/1961
Deductibility	Contributions are not deductible
Foundation	All organizations except 501(c)(3)
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	2013
Assets	$0
Income	$0
Filing Requirement	990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount	$501,553
Amount of Income	$29,683
Form 990 Revenue Amount	$29,683
National Taxonomy of Exempt Entities (NTEE)	Community Improvement, Capacity Building: Economic Development

Non-representatives - add comments:

Amount of income in 2013: $29,683

This organization:	$29,683
Other organizations performing similar types of work:	$623,666

Assets in 2013: $501,553

This organization:	$501,553
Other organizations performing similar types of work:	$2,159,711

Expenses in 2007: $285,563

This organization:	$285,563
Other organizations performing similar types of work:	$483,294

Income to expenses ratio in 2007: 0.1

This organization:	0.1
Other organizations performing similar types of work:	1.1

Expenses allocated to program services in 2007: 0.0%

This organization:	0.0%
Other organizations performing similar types of work:	25.8%

Grants share in income in 2007: 0.0%

Lynchburg Area Development Corp Attn Richard Worthington:	0.0%
Other organizations performing similar types of work:	28.9%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Income-Producing Activities for 2007

	2000	2005	2006	2007
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$38,393	$27,780	$31,161	$29,683
Contributions, gifts, grants, and similar amounts received	$0	$0	$0	$0
Contributions to donor advised funds			$0	$0
Direct public support	$0	$0	$0	$0
Indirect public support	$0	$0	$0	$0
Government contributions (grants)	$0	$0	$0	$0
Program service revenue including government fees and contracts	$20,297	$0	$0	$0
Membership dues and assessments	$200	$170	$190	$190
Interest on savings and temporary cash investments	$17,896	$27,610	$30,971	$29,493
Dividends and interest from securities	$0	$0	$0	$0
Net rental income or (loss)	$0	$0	$0	$0
Gross rents	$0	$0	$0	$0
Less: rental expenses	$0	$0	$0	$0
Other investment income	$0	$0	$0	$0
Gain or (loss) from sales of assets other than inventory	$0	$0	$0	$0
Gross amount from sales of assets other than inventory	$0	$0	$0	$0
Less: cost or other basis and sales expenses	$0	$0	$0	$0
Net income or (loss) from special events and activities	$0	$0	$0	$0
Gross revenue	$0	$0	$0	$0
Less: direct expenses other than fundraising expenses	$0	$0	$0	$0
Gross profit or (loss) from sales of inventory	$0	$0	$0	$0
Gross sales of inventory, less returns and allowances	$0	$0	$0	$0
Less: cost of goods sold	$0	$0	$0	$0
Other revenue	$0	$0	$0	$0
Total expenses	$5,836	$6,549	$6,371	$285,563
Program services	$0	$0	$0	$0
Management and general	$0	$0	$0	$0
Fundraising	$0	$0	$0	$0
Payments to affiliates	$0	$0	$0	$0
Net assets or fund balances at end of year	$692,104	$732,643	$757,433	$501,553
Excess or (deficit) for the year	$32,557	$21,231	$24,790	$-255,880
Net assets or fund balances at beginning of year	$659,547	$711,412	$732,643	$757,433
Other changes in net assets or fund balances	$0	$0	$0	$0

	Total	Program services	Management and general	Fundraising
Statement of Functional Expenses (for 2007)
Total functional expenses	$285,563	$0	$0	$0
Grants paid from donor advised funds		$0
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.	$0	$0	$0	$0
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)	$0	$0	$0	$0
Salaries and wages of employees not included above	$0	$0	$0	$0
Pension plan contributions not included above	$0	$0	$0	$0
Employee benefits not included above	$0	$0	$0	$0
Payroll taxes	$0	$0	$0	$0
Professional fundraising fees	$0	$0	$0	$0
Accounting fees	$2,865	$0	$0	$0
Legal fees	$0	$0	$0	$0
Supplies	$20	$0	$0	$0
Telephone	$0	$0	$0	$0
Postage and shipping	$0	$0	$0	$0
Occupancy	$0	$0	$0	$0
Equipment rental and maintenance	$0	$0	$0	$0
Printing and publications	$313	$0	$0	$0
Travel	$0	$0	$0	$0
Conferences, conventions, and meetings	$0	$0	$0	$0
Interest	$0	$0	$0	$0
Depreciation, depletion, etc.	$0	$0	$0	$0
Other expenses not covered above	$282,365	$0	$0	$0

	2000	2005	2006	2007
Balance Sheets
Total assets	$692,219	$734,332	$759,683	$503,803
Cash - non-interest-bearing	$0	$0	$0	$0
Savings and temporary cash investments	$349,898	$475,113	$489,880	$503,373
Accounts receivable less allowance for doubtful accounts	$0	$0	$0	$0
Pledges receivable less allowance for doubtful accounts	$0	$0	$0	$0
Grants receivable	$0	$0	$0	$0
Receivables from current and former officers, directors, trustees, and key employees	$0	$0	$0	$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)			$0	$0
Other notes and loans receivable less allowance for doubtful accounts	$342,237	$250,000	$250,000	$0
Inventories for sale or use	$0	$0	$0	$0
Prepaid expenses and deferred charges	$84	$219	$664	$430
Investments - publicly-traded securities			$0	$0
Investments - other securities	$0	$0	$0	$0
Investments - land, buildings, and equipment less accumulated depreciation	$0	$0	$0	$0
Investments - other	$0	$0	$0	$0
Land, buildings, and equipment less accumulated depreciation	$0	$0	$0	$0
Other assets, including program-related investments	$0	$9,000	$19,139	$0
Total liabilities	$115	$1,689	$2,250	$2,250
Accounts payable and accrued expenses	$115	$1,689	$2,250	$2,250
Grants payable	$0	$0	$0	$0
Deferred revenue	$0	$0	$0	$0
Loans from officers, directors, trustees, and key employees	$0	$0	$0	$0
Tax-exempt bond liabilities	$0	$0	$0	$0
Mortgages and other notes payable	$0	$0	$0	$0
Other liabilities	$0	$0	$0	$0
Total liabilities and net assets/fund balances	$692,219	$734,332	$759,683	$503,803
Total net assets or fund balances	$692,104	$732,643	$757,433	$501,553

	2000	2005	2006	2007
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
Total revenue	$38,393	$27,780	$31,161	$29,683
Total revenue, gains, and other support per audited financial statements	$38,393	$27,780	$31,161	$29,683
Other expenses	$0	$0	$0	$0
Net unrealized gains on investments	$0	$0	$0	$0
Donated services and use of facilities	$0	$0	$0	$0
Recoveries of prior year grants	$0	$0	$0	$0
Other	$0	$0	$0	$0
Other revenue	$0	$0	$0	$0
Investment expenses	$0	$0	$0	$0
Other	$0	$0	$0	$0

	2000	2005	2006	2007
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
Total expenses	$5,836	$6,549	$6,371	$285,563
Total expenses and losses per audited financial statements	$5,836	$6,549	$6,371	$285,563
Other revenue	$0	$0	$0	$0
Donated services and use of facilities	$0	$0	$0	$0
Prior year adjustments	$0	$0	$0	$0
Losses	$0	$0	$0	$0
Other	$0	$0	$0	$0
Other expenses	$0	$0	$0	$0
Investment expenses	$0	$0	$0	$0
Other	$0	$0	$0	$0

Current Officers, Directors, Trustees, and Key Employees

Total number of officers, directors, and trustees permitted to vote on organization business at board meetings	16
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?	No
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?	No
Does the organization have a written conflict of interest policy?	No

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?	Yes
Did the organization make only in-house lobbying expenditures of $2,000 or less?	No
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?	No
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?	No
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)?	No
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?
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?	No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?	No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?	No
Number of employees employed in the pay period that includes March 12, 2006	0

	Unrelated business income		Excluded by section 512, 513, or 514		Related or exempt function income
Analysis of Income-Producing Activities (for 2007)
	Business code	Amount	Exclusion code	Amount	Related or exempt function income
Total		$0		$0	$29,683
Program service revenue
Program service revenue 1	000000	$0	00	$0	$0
Program service revenue 2	000000	$0	00	$0	$0
Program service revenue 3	000000	$0	00	$0	$0
Program service revenue 4	000000	$0	00	$0	$0
Program service revenue 5	000000	$0	00	$0	$0
Medicare/Medicaid payments	000000	$0	00	$0	$0
Fees and contracts from government agencies	000000	$0	00	$0	$0
Membership dues and assessments	000000	$0	00	$0	$190
Interest on savings and temporary cash investments	000000	$0	00	$0	$29,493
Dividends and interest from securities	000000	$0	00	$0	$0
Net rental income or (loss) from real estate
debt-financed property	000000	$0	00	$0	$0
not debt-financed property	000000	$0	00	$0	$0
Net rental income or (loss) from personal property	000000	$0	00	$0	$0
Other investment income	000000	$0	00	$0	$0
Gain or (loss) from sales of assets other than inventory	000000	$0	00	$0	$0
Net income or (loss) from special events	000000	$0	00	$0	$0
Gross profit or (loss) from sales of inventory	000000	$0	00	$0	$0
Other revenue	000000	$0	00	$0	$0

EIN of corporation, partnership, or disregarded entity	Percentage of ownership interest	Total income	End-of-year assets
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
000000000	0%	$0	$0
000000000	0%	$0	$0
000000000	0%	$0	$0
000000000	0%	$0	$0

Compensation	Contributions to employee benefit plans & deferred compensation	Expense account and other allowances
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0

Total number of other employees paid over $50,000	0

Total number of other employees paid over $50,000

Statements About Activities (for 2007)
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	$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year	$0
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	$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year	$0

Reason for Non-Private Foundation Status
The organization is not a private foundation because it is

	1999	2004	2005	2006
Support Schedule
Total	$0	$0	$0	$0
Gifts, grants, and contributions received	$0	$0	$0	$0
Membership fees received	$0	$0	$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	$0	$0	$0	$0
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	$0	$0	$0	$0
Net income from unrelated business activities not included above	$0	$0	$0	$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf	$0	$0	$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	$0	$0
Other income	$0	$0	$0	$0

Lobbying Expenditures by Electing Public Charities (for 2007)
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

Write your review!

Your Ratings

You can rate this nonprofit in different categories from 1 star (worst) to 5 stars (best) or leave category unrated

Program:
Fundraising:
Expenses:
Transparency:

Your Review

Would you recommend Lynchburg Area Development Corp Attn Richard Worthington to others? (optional)

Yes

Add photo of Lynchburg Area Development Corp Attn Richard Worthington (optional)

About You

Your nickname:
I have read, and agree to the Terms of Service

Optional Verification

(additional info to increase the weight and the placement of your review and ratings)

	Log in» \| Register - it's free and very quick!
Real Name:
Email (won't be published):
Date and time of your visit to this nonprofit:
Phone number (won't be published):
	Show my IP address (3.135.184.xxx) to everybody
	Leave your signature» Clear Make my signature public

Recently Added Reviews
Young Presidents Organization Inc, Ypo Northern Virginia Chapter Inc in Newport News, VA
Mountain Tails Animal Rescue in Dublin, VA
The Mcclinton Foundation in Covington, VA
Cooper Trash Parkout Inc in Mclean, VA
Virginia Beach Policemens Benevolent Association Inc in Virginia Bch, VA
Charlotte County Farm Bureau in Charlotte C H, VA
Carol W Pruner Charitable Remainder Unitrust, Pruner Todd W & Carol W Pruner Ttee in Roanoke, VA
Kempsville Volunteer Rescue Squad in Virginia Bch, VA
Dulles South Food Pantry in Dulles, VA
Pomegranate Library Inc in Virginia Beach, VA

Recently Added Reviews

Young Presidents Organization Inc, Ypo Northern Virginia Chapter Inc in Newport News, VA

Mountain Tails Animal Rescue in Dublin, VA

The Mcclinton Foundation in Covington, VA

Cooper Trash Parkout Inc in Mclean, VA

Virginia Beach Policemens Benevolent Association Inc in Virginia Bch, VA

Charlotte County Farm Bureau in Charlotte C H, VA

Carol W Pruner Charitable Remainder Unitrust, Pruner Todd W & Carol W Pruner Ttee in Roanoke, VA

Kempsville Volunteer Rescue Squad in Virginia Bch, VA

Dulles South Food Pantry in Dulles, VA

Pomegranate Library Inc in Virginia Beach, VA

Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	Spirit Of 76 Inc	PO BOX 1876, Junction City, KS 66441-6876	KS	1976-07	$1,102,440
2	Appomattox Basin Industrial Development Corp	Petersburg, VA 23805	VA		$882,623
3	Lynchburg Area Development Corp Attn Richard Worthington	919 Main Street, Lynchburg, VA 24504	VA	1961-06	$29,683
4	Wisconsin Business Development Finance Corporation	100 River Pl1 Board Walkll, Monona, WI 53716	WI	1982-07	$6,747,667
5	Tri-County Council For Southern Maryland	PO BOX 745, Hughesville, MD 20637-0745	MD	1983-05	$6,090,097
6	City Urban Revitalization Corporation	68-700 Avenida Lalo Guerrero, Cathedral City, CA 92234-1208	CA	2002-06	$6,002,442
7	Iron County Action Plan Committee	PO BOX 108, Ironton, MO 63650	MO	2000-02	$5,517,378
8	West Central Arkansas Planning & Development District Inc	PO BOX 6409, Hot Springs, AR 71902-6409	AR	1996-03	$4,534,357
9	Southwest Arkansas Planning &	101 Harvey Couch Blvd, Magnolia, AR 71754	AR	1978-02	$3,421,370
10	Hampton Roads Chamber Foundation	500 E Main St Ste 700, Norfolk, VA 23510-2214	VA	1985-07	$2,638,631
11	Washington County Economic Development Partnership, Washington County Economic Development Inc	20 E Beau Street, Washington, PA 15301	PA	2006-12	$2,476,170
12	The Resource Inc	PO BOX 36, North Eastham, MA 02651-0036	MA	1994-05	$2,025,775
13	La Cocina Inc	2948 Folsom St, San Francisco, CA 94110-4028	CA	2007-08	$1,958,553
14	Southwest Louisiana Alliance Foundation Inc	PO BOX 3110, Lake Charles, LA 70602-3110	LA	1985-06	$1,472,148
15	Special Improvement District Borough Of Redbank Inc	46 English Plz Ste 6, Red Bank, NJ 07701-1687	NJ	1993-02	$1,175,381
16	Incspire Inc	1886 Metro Center Dr Ste 230, Reston, VA 20190-5290	VA	2007-09	$71,575
17	Southwest Development Financing Inc	PO BOX 983, Abingdon, VA 24212-0983	VA	1997-03	$31,752
18	League For Hope Inc	Po Box 455, Marshall, VA 22016	VA	2007-08	$0
19	Mathews County Sustainable Environment & Economic Dev Inc	PO BOX 552, Mathews, VA 23109-0552	VA	1999-12	$0
20	National Community Development Organization	100 Baker Farm Drive, Hampton, VA 23666	VA	2007-08	$0

Number of organizations performing similar types of work

Alaska	7
Alabama	4
Arkansas	8
Arizona	5
California	16
Colorado	7
Connecticut	3
District of Columbia	3
Delaware	3
Florida	7
Georgia	2
Iowa	13
Idaho	2
Illinois	10
Indiana	11
Kansas	5
Kentucky	8
Louisiana	11
Massachusetts	4
Maryland	9
Maine	3
Michigan	11
Minnesota	5
Missouri	5

Mississippi	5
Montana	3
North Carolina	13
North Dakota	2
Nebraska	3
New Hampshire	3
New Jersey	8
New Mexico	2
New York	18
Ohio	10
Oklahoma	2
Oregon	1
Pennsylvania	39
South Carolina	5
South Dakota	4
Tennessee	3
Texas	25
Utah	3
Virginia	8
Vermont	5
Washington	6
Wisconsin	12
West Virginia	6
International	1

Total

349

NonProfitFacts.com is not associated with, endorsed by, or sponsored by Lynchburg Area Development Corp Attn Richard Worthington and has no official or unofficial affiliation with Lynchburg Area Development Corp Attn Richard Worthington