West Virginia High Technology Consortium Foundation in Fairmont, West Virginia (WV)

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West Virginia High Technology Consortium Foundation
Employer Identification Number (EIN)550727658
Name of OrganizationWest Virginia High Technology Consortium Foundation
Address1000 Technology Dr Ste 1000, Fairmont, WV 26554-8827
ActivitiesAttracting new industry or retaining industry in an area
SubsectionCharitable Organization
Ruling Date12/1994
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 Period03/2014
Assets$10,000,000 to $49,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$43,353,650
Amount of Income$8,401,754
Form 990 Revenue Amount$8,045,765
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Urban, Community Economic Development


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Amount of income in 2014: $8,401,754
West Virginia High Technology Consortium Foundation: 

 $8,401,754
Other organizations performing similar types of work: 

 $190,298

Assets in 2014: $43,353,650
This organization: 

 $43,353,650
Other organizations performing similar types of work: 

 $326,461

Expenses in 2014: $8,957,993
This organization: 

 $8,957,993
Other organizations performing similar types of work: 

 $231,022

Income to expenses ratio in 2014: 0.9
West Virginia High Technology Consortium Foundation: 

 0.9
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 83.5%
This organization: 

 83.5%
Other organizations performing similar types of work: 

 86.8%

Number of employees in 2014: 56
This organization: 

 56
Other organizations performing similar types of work: 

 2

Employees paid over $100,000 in 2014: 30.4%
This organization: 

 30.4%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2014: 7.6%
This organization: 

 7.6%
Other organizations performing similar types of work: 

 35.7%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Functional expenses for 2014

Support schedule

Checklist
201220132014
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNoNo
Did the organization report an amount for land, buildings, and equipment?YesYesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?YesYesYes
Did the organization report an amount for other liabilities?NoNoNo
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYesNo
Was the organization included in consolidated, independent audited financial statements for the tax year?YesYesYes
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNoNo
Did the organization operate one or more hospital facilities?NoNoNo
Did the organization attach a copy of its audited financial statements?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesYesYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNoNo
A family member of a current or former officer, director, trustee, or key employee?NoNoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNoNo
Did the organization receive more than $25,000 in non-cash contributions?NoNoNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?YesYesYes
Was the organization related to any tax-exempt or taxable entity?YesYesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?YesYesYes
Did the organization make any transfers to an exempt non-charitable related organization?NoNoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNoNo
Statements Regarding Other IRS Filings and Tax Compliance
2011201220132014
The number reported in Box 3 of Form 1096562630
The number of Forms W-2G000
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return756356
Did the organization file all required federal employment tax returns?YesYesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNoNo
Has it filed a Form 990-T for this year?NoNoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNoNo
Did the organization file Form 8886-T?NoNoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNoNo
Did the organization notify the donor of the value of the goods or services provided?NoNoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNoNo
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities $0$0$0$0
Gross income from members or shareholders$0$0$0$0
Gross income from other sources$0$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNoNo
The amount of tax-exempt interest received or accrued during the year$0$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0$0
The amount of reserves on hand$0$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNoNo
Has it filed a Form 720 to report these payments?NoNoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
201220132014
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$1,537,580$1,518,555$1,584,748
Total reportable compensation from related organizations$0$0$0
Total estimated amount of other compensation from the organization and related organizations$275,791$275,740$301,527
Total number of individuals who received more than $100,000 of reportable compensation from the organization111216
Total number of independent contractors who received more than $100,000 of compensation from the organization311
Statement of Revenue
2011201220132014
Total revenue$11,545,672$8,870,246$8,426,631$8,045,765
Contributions, Gifts, Grants and Other Similar Amounts$383,600$546,274$782,802$610,480
Program Service Revenue$11,113,957$8,303,257$7,585,739$7,045,280
541700$6,408,315$5,978,473$5,461,077
Lessors of Other Real Estate Property $1,836,230$1,547,960$1,517,721
Educational Support Services$58,712$59,306$66,482
All other program service revenue$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$24,461$11,861$17,547$16,624
Income from investment of tax-exempt bond proceeds$0$0$0$0
Royalties$0$0$0$0
Net rental income$0$0$0$0
Net gain/loss from sales of assets other than inventory$0$0$0$245,157
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $0$0 / $0$0 / $0$0 / $601,146
Less: cost or other basis and sales expenses (Securities / Other)$0 / $0$0 / $0$0 / $0$0 / $355,989
Gain or (loss) (Securities / Other)$0 / $0$0 / $0$0 / $0$0 / $245,157
Net income/loss from fundraising events$0$0$0$0
Net income/loss from gaming activities$0$0$0$0
Net income/loss from sales of inventory$0$0$0$0
Miscellaneous Revenue$23,654$8,854$40,543$128,224
900099$8,854$40,543$128,224
All other revenue$0$0$0
Statement of Functional Expenses
2011201220132014
Total functional expenses$11,512,603$10,014,046$9,297,552$8,957,993
Grants and other assistance to domestic organizations and domestic governments$20,183$37,535$38,102
Grants and other assistance to domestic individuals$0$0$2,500
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0$0
Benefits paid to or for members$0$0$0
Compensation of current officers, directors, trustees, and key employees$1,255,697$1,191,570$1,179,376$1,201,020
Compensation not included above, to disqualified persons$0$0$0
Other salaries and wages$3,079,244$2,713,854$2,546,511$2,604,768
Pension plan accruals and contributions$84,504$77,460$79,061
Other employee benefits$945,646$723,397$804,200
Payroll taxes$413,645$419,145$362,039$314,678
Fees for services (non-employees)
Management$0$0$0
Legal$10,194$15,998$40,859
Accounting$112,244$97,876$90,722
Lobbying$0$0$0
Professional fundraising services$0$0$0$0
Investment management fees$0$0$0
Other$87,531$151,827$105,427
Advertising and promotion$93,913$102,048$136,414
Office expenses$613,715$282$0
Information technology$131,518$204,297$83,835
Royalties$0$0$0
Occupancy$271,431$264,908$61,277
Travel$149,152$106,208$99,827
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0$0
Conferences, conventions, and meetings$46,683$32,658$27,371
Interest$136,180$133,148$303,956
Payments to affiliates$0$0$0
Depreciation, depletion, and amortization$679,134$631,788$579,512
Insurance$673,405$555,564$656,252
Other expenses$548,248$659,305$433,179
Other expenses$371,965$615,000$300,093
Other expenses$343,500$272,177$240,727
Other expenses$276,170$244,661$234,850
Other expenses$94,161$283,489$519,363
Balance Sheet
2011201220132014
Total assets$38,246,646$36,389,618$35,181,249$43,353,650
Cash - non-interest-bearing$5,948,321$5,200,341$5,295,283
Savings and temporary cash investments$0$0$0
Pledges and grants receivable, net$148,551$116,296$64,731
Accounts receivable, net$1,062,968$1,980,684$1,251,172
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0$0
Notes and loans receivable, net$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$296,625$236,297$342,506
Land, buildings, and equipment: cost or other basis$14,946,389$14,316,184$13,505,577
Investments - publicly traded securities$0$0$0
Investments - other securities$1,000$1,000$0
Investments - program-related$0$0$0
Intangible assets$0$0$0
Other assets$13,985,764$13,330,447$22,894,381
Total liabilities$4,410,525$3,692,080$3,353,079$12,544,182
Accounts payable and accrued expenses$687,241$602,355$577,092
Grants payable$0$0$0
Deferred revenue$1,161,488$861,168$926,896
Tax-exempt bond liabilities$0$0$0$0
Escrow or custodial account liability$0$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0$0
Secured mortgages and notes payable to unrelated third parties$2,408,348$1,843,351$1,889,556$11,040,194
Unsecured notes and loans payable to unrelated third parties$0$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$0$0$0
Total net assets or fund balances$33,836,121$32,697,538$31,828,170$30,809,468
Unrestricted net assets$32,697,538$31,828,170$30,809,468
Temporarily restricted net assets$0$0$0
Permanently restricted net assets$0$0$0
Capital stock or trust principal, or current funds$0$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0$0
Reason for Public Charity Status (for 2014)
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 2010 - 2014)
2010 - 2014 Total
Public support$49,650,891
Subtotal$49,650,891
Gifts, grants, contributions, and membership fees received$2,861,267
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$46,789,624
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$49,961,157
Public support$49,650,891
Subtotal$105,747
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$105,747
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$204,519
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20052007
Total revenue$38,380,341$36,724,443
Contributions, gifts, grants, and similar amounts received$4,838,098$6,981,048
Contributions to donor advised funds$0
Direct public support$202,263$256,859
Indirect public support$0$0
Government contributions (grants)$4,635,835$6,724,189
Program service revenue including government fees and contracts$33,424,017$29,539,567
Membership dues and assessments$14,752$0
Interest on savings and temporary cash investments$58,745$119,485
Dividends and interest from securities$0$0
Net rental income or (loss)$0$0
Gross rents$0$0
Less: rental expenses$0$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$32,710$23,430
Less: direct expenses other than fundraising expenses$32,710$23,430
Gross profit or (loss) from sales of inventory$27,879$39,341
Gross sales of inventory, less returns and allowances$66,535$339,449
Less: cost of goods sold$38,656$300,108
Other revenue$16,850$45,002
Total expenses$35,436,904$31,308,127
Program services$31,863,949$26,151,375
Management and general$3,022,928$4,341,722
Fundraising$550,027$815,030
Payments to affiliates$0$0
Net assets or fund balances at end of year$20,391,565$32,718,682
Excess or (deficit) for the year$2,943,437$5,416,316
Net assets or fund balances at beginning of year$17,277,395$27,961,102
Other changes in net assets or fund balances$170,733$-658,736
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$31,308,127$26,151,375$4,341,722$815,030
Grants paid from donor advised funds$0
Other grants and allocations$109,113
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$1,575,495$302,029$1,273,466$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$7,165,414$6,141,032$663,652$360,730
Pension plan contributions not included above$191,571$147,484$44,087$0
Employee benefits not included above$1,792,961$1,380,339$412,622$0
Payroll taxes$817,413$607,971$181,739$27,703
Professional fundraising fees$0$0$0$0
Accounting fees$138,556$34,132$104,424$0
Legal fees$135,856$33,475$102,381$0
Supplies$476,926$421,988$47,427$7,511
Telephone$244,001$234,708$0$9,293
Postage and shipping$38,515$37,306$0$1,209
Occupancy$1,256,128$1,215,632$40,496$0
Equipment rental and maintenance$164,786$158,913$5,873$0
Printing and publications$655$0$0$655
Travel$615,266$515,139$81,654$18,473
Conferences, conventions, and meetings$242,767$192,818$29,340$20,609
Interest$1,558,368$1,421,510$136,858$0
Depreciation, depletion, etc.$532,164$510,984$21,180$0
Other expenses not covered above$14,252,172$12,686,802$1,196,523$368,847
Balance Sheets
20052007
Total assets$50,817,374$57,470,795
Cash - non-interest-bearing$2,180,572$5,388,941
Savings and temporary cash investments$1,110,947$0
Accounts receivable less allowance for doubtful accounts$1,746,709$2,311,608
Pledges receivable less allowance for doubtful accounts$0$0
Grants receivable$15,214,271$2,288,876
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)$0
Other notes and loans receivable less allowance for doubtful accounts$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$375,803$397,089
Investments - publicly-traded securities$0
Investments - other securities$2,094$1,000
Investments - land, buildings, and equipment less accumulated depreciation$12,218,910$12,218,910
Investments - other$0$0
Land, buildings, and equipment less accumulated depreciation$17,623,627$34,780,884
Other assets, including program-related investments$344,441$83,487
Total liabilities$30,425,809$24,752,113
Accounts payable and accrued expenses$2,338,552$4,604,726
Grants payable$0$0
Deferred revenue$550,510$948,976
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$27,536,747$18,660,801
Other liabilities$0$537,610
Total liabilities and net assets/fund balances$50,817,374$57,470,795
Total net assets or fund balances$20,391,565$32,718,682
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20052007
Total revenue$38,380,341$36,724,443
Total revenue, gains, and other support per audited financial statements$38,439,198$37,047,981
Other expenses$0$323,538
Net unrealized gains on investments$0$0
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$0$323,538
Other revenue$-58,857$0
Investment expenses$0$0
Other$-58,857$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20052007
Total expenses$35,436,904$31,308,127
Total expenses and losses per audited financial statements$35,496,855$31,631,665
Other revenue$71,366$323,538
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$71,366$323,538
Other expenses$11,415$0
Investment expenses$0$0
Other$11,415$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$325,857$18,327$2,457
40$205,775$9,451$1,886
40$194,681$16,506$11,097
40$173,883$16,024$4,512
40$131,066$8,604$5,032
40$129,611$9,187$1,762
40$147,732$13,642$7,945
32$42,369$1,193$55
40$81,140$12,604$3,097
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings4
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?Yes
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?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?Yes
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?Yes
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)?Yes
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?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, 2006171
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$39,341$164,487$29,539,567
Program service revenue
Program service revenue 1000000$000$0$26,942,096
Program service revenue 2000000$000$0$2,573,382
Program service revenue 3000000$000$0$24,089
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$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$119,485$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
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 inventoryOther computer-related services$39,34100$0$0
Other revenue000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$45,002$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
203692939100%$179,436$3,446,314
203308876100%$-17,771$623,408
262294925100%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$136,275$15,594$2,583
$128,385$15,630$50
$120,875$15,547$2,408
$111,930$4,463$4,778
$109,611$9,046$854
Total number of other employees paid over $50,00083
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$4,200
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?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
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 isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
20042006
Total$16,800,988$46,658,670
Gifts, grants, and contributions received$5,109,294$19,310,198
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$11,594,259$27,087,349
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$21,347$114,438
Net income from unrelated business activities not included above$13,905$15,990
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$62,183$130,695
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
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$393,411$0$39,341
Gross receipts or sales less returns and allowances$339,449$0$0
Cost of goods sold$3,001,081$0$0
Gross profit$393,411$0$39,341
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$4,830
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$4,830
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$0
Unrelated business taxable income$0
Unrelated business taxable income before net operating loss deduction$34,511
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$34,511
Specific deduction$1,000
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1West Virginia High Technology Consortium Foundation1000 Technology Dr Ste 1000, Fairmont, WV 26554-8827WV1994-12$8,401,754
2Uptown Columbus IncPO BOX 1237, Columbus, GA 31902-1237GA1985-04$12,826,789
3South Bronx Overall Economic Development Corporation555 Bergen Ave, Bronx, NY 10455-1368NY1973-08$8,444,805
4West Central Indiana Economic Development District Inc1718 Wabash Ave, Terre Haute, IN 47807-3323IN1969-08$5,403,201
5South Georgia Regional Development CenterPO BOX 1223, Valdosta, GA 31603-1223GA1979-09$4,665,054
6Warriors Inc2733 Market St, Youngstown, OH 44507-1612OH1998-08$2,042,544
7Sierra Vista Economic Development750 Bartow, Sierra Vista, AZ 85635-1827AZ1987-06$1,835,033
8Stand Up For Salem IncFenwick Plaza Suite 7, Salem, NJ 08079NJ1989-09$1,714,895
9Tule River Economic Development Corporation2780 W Yowlumne Ave Ste A559, Porterville, CA 93257-9592CA1992-07$1,156,764
10Sunrise County Economic Council53 Prescott Dr Suite 3, Machias, ME 04654-3424ME1995-03$1,012,879
11Urban Enterprise Association Of Hammond Indiana Inc649 Conkey St, Hammond, IN 46324-1158IN1993-06$922,216
12Randolph Area Community Development CorporationPO BOX 7, Randolph, VT 05060-0007VT1994-05$913,807
13Saratoga Economic Development Corporation28 Clinton Ave, Saratoga Springs, NY 12866-2391NY1980-01$831,929
14Texas Economic Development CorporationPO BOX 684702, Austin, TX 78768-4702TX1993-05$765,896
15Washington Heights And Inwood Development Corporation57 Wadsworth Ave, New York, NY 10033-7048NY1979-02$633,423
16Tennessee Economic Partnership Inc217 5th Ave North 200, Nashville, TN 37219-1901TN1992-05$588,539
17Clayton Century Foundation50 Gay Avenue, Clayton, MO 63105MO1998-06$580,491
18Urban Vision749 Blaine Ave, Akron, OH 44310-3035OH1993-02$524,559
19Mcdowell County Action Network IncPO BOX 67, Thorpe, WV 24888-0067WV1995-11$58,554
20Mannington Main Street Inc206 E Main St, Mannington, WV 26582-1162WV1995-10$47,720
Number of organizations performing similar types of work
Alaska1
Alabama4
Arkansas6
Arizona6
California34
Colorado8
Connecticut9
District of Columbia7
Florida22
Georgia12
Hawaii1
Iowa18
Idaho3
Illinois30
Indiana20
Kansas1
Kentucky5
Louisiana8
Massachusetts17
Maryland11
Maine2
Michigan17
Minnesota11
Missouri17
Mississippi6
Montana4
North Carolina24
North Dakota3
Nebraska2
New Hampshire2
New Jersey17
New Mexico2
Nevada3
New York59
Ohio18
Oklahoma5
Oregon4
Pennsylvania32
South Carolina7
South Dakota3
Tennessee11
Texas21
Utah1
Virginia10
Vermont1
Washington6
Wisconsin14
West Virginia3
Wyoming2
International1
Total531

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