Mason City Chamber Of Commerce Foundation in Mason City, Iowa (IA)

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Mason City Chamber Of Commerce Foundation
Employer Identification Number (EIN)421505507
Name of OrganizationMason City Chamber Of Commerce Foundation
In Care of NameJacqueline R Conway
Address9 N Federal Ave, Mason City, IA 50401-3250
SubsectionLiterary Organization
Ruling Date10/2000
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period09/2014
Assets$25,000 to $99,999
Income$25,000 to $99,999
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$98,809
Amount of Income$43,577
Form 990 Revenue Amount$22,477
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Promotion of Business


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Amount of income in 2014: $43,577 (it was $20,987 in 2013)
Mason City Chamber Of Commerce Foundation: 

 $43,577
Other organizations performing similar types of work: 

 $88,861

Assets in 2014: $98,809 (it was $129,376 in 2013)
Mason City Chamber Of Commerce Foundation: 

 $98,809
Other organizations performing similar types of work: 

 $51,691

Expenses in 2014: $53,044
Mason City Chamber Of Commerce Foundation: 

 $53,044
Other organizations performing similar types of work: 

 $80,127

Income to expenses ratio in 2014: 0.8
This organization: 

 0.8
Other organizations performing similar types of work: 

 0.8

Grants share in income in 2014: 96.8%
Mason City Chamber Of Commerce Foundation: 

 96.8%
Other organizations performing similar types of work: 

 1.0%

Financial snapshot ($)

Revenue for 2014

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2011201220132014
Total revenue$135,064$20,987$22,477
Contributions, gifts, grants, and similar amounts received$134,034$19,999$21,768
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$0$0$0
Investment income$1,030$988$709
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$0$0$0$0
Gross income from gaming$0$0$0$21,100
Gross income from fundraising events$0$0$0
Less: direct expenses from gaming and fundraising events$0$0$21,100
Gross profit/loss from sales of inventory$0$0$0
Other revenue$0$0$0
Total expenses$323,329$46,004$53,044
Total net assets$154,393$129,376$98,809
Excess/Deficit for the year$-188,265$-25,017$-30,567
Net assets or fund balances at beginning of year$342,658$154,393$129,376
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$154,393$129,376$98,809
Balance Sheets
2011201220132014
Total assets$342,657$154,393$129,376$98,809
Total liabilities$0$0$0$0
Net assets or fund balances$154,393$129,376$98,809
Other Information
2011201220132014
Did the organization engage in any significant activity not previously reported to the IRS?NoNoNo
Were any significant changes made to the organizing or governing documents?NoNoNo
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?NoNoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNoNo
Amount of political expenditures, direct or indirect$0$0$0
Did the organization file Form 1120-POL for this year?NoNoNo
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?NoNoNo
Total amount involved$0$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?NoNoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNoNo
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$481,766
Subtotal$997,715
Gifts, grants, contributions, and membership fees received$997,715
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$0
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$515,949
Amounts received from disqualified persons$88,400
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$427,549
Total support$1,005,887
Public support$997,715
Subtotal$8,172
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$8,172
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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2Society For Human Resource Management, Wiregrass Hr Management AssociationP O Box 10361, Dothan, AL 36304AL1965-09$199,974,984
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4Edison Electric Institute701 Pennsylvania Avenue Nw, Washington, DC 20004-2608DC1942-07$154,319,211
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10Downtown Des Moines Self-Supported Municipal Improvement District601 Locust St Ste 700, Des Moines, IA 50309-3725IA2003-05$2,116,788
11Healthcare Quality Association On Accreditation Inc114 E 4th St, Waterloo, IA 50703-4714IA2005-12$2,928,066
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Number of organizations performing similar types of work
Alaska94
Alabama235
Arkansas185
Arizona346
California1,926
Colorado437
Connecticut191
District of Columbia411
Delaware63
Florida987
Georgia500
Hawaii127
Iowa226
Idaho137
Illinois781
Indiana331
Kansas211
Kentucky222
Louisiana232
Massachusetts358
Maryland360
Maine108
Michigan504
Minnesota341
Missouri377
Mississippi119
Montana114
North Carolina452
North Dakota65
Nebraska146
New Hampshire92
New Jersey401
New Mexico156
Nevada171
New York967
Ohio640
Oklahoma208
Oregon366
Pennsylvania679
Rhode Island73
South Carolina192
South Dakota91
Tennessee282
Texas1,208
Utah166
Virginia613
Vermont69
Washington451
Wisconsin359
West Virginia109
Wyoming44
International34
Total17,957

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