Gretna Economic Development Association Limited in Gretna, Louisiana (LA)

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Gretna Economic Development Association Limited
Employer Identification Number (EIN)721231534
Name of OrganizationGretna Economic Development Association Limited
In Care of NameAccounting Office
Address629 2nd St, Gretna, LA 70053-5826
ActivitiesDescribed in section 170(b)1)(a)(vi) of the Code, Attracting new industry or retaining industry in an area
SubsectionCharitable Organization
Ruling Date09/1994
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$500,000 to $999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$648,084
Amount of Income$4,039,127
Form 990 Revenue Amount$2,462,083

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Financial snapshot ($)

Revenue for 2010

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2010)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2010)
Total revenue$2,029,394
Contributions, Gifts, Grants and Other Similar Amounts$1,118,027
Program Service Revenue$825,948
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$437
Income from investment of tax-exempt bond proceeds$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$84,990
Gross income from gaming activities$1,185,632
Less: direct expenses$1,100,642
Net loss from sales of inventory$-8
Gross sales of inventory, less returns and allowances$1,712
Less: cost of goods sold$1,720
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2010)
Total functional expenses$1,916,529
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$21,546
Payroll taxes$3,193
Professional fundraising services$0
Balance Sheet (for 2010)
Total assets$422,744
Total liabilities$1,280
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Total net assets or fund balances$421,464
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2010)
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
Support Schedule for Organizations Described in Section 509(a)(2) (for 2010)
2006 - 2010 Total
Total support$7,460,370
Gifts, grants, contributions, and membership fees received$2,794,293
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$4,415,663
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
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$250,414
Unrelated Trade or Business Income (for 2008)
Gross receipts or sales less returns and allowances$481,614$0$0
Cost of goods sold$382,425$0$0
Gross profit$99,189$0$99,189
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$34,759
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Taxes and licenses$75
Charitable contributions$3,841
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$30,843
Unrelated business taxable income$63,430
Unrelated business taxable income before net operating loss deduction$64,430
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$64,430
Specific deduction$1,000
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