Medicine Valley Economic Development Inc in Curtis, Nebraska (NE)

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Medicine Valley Economic Development Inc
Employer Identification Number (EIN)470664239
Name of OrganizationMedicine Valley Economic Development Inc
In Care of NameDoug Schultz
AddressPo Box 437, Curtis, NE 69025
SubsectionCharitable Organization
Ruling Date11/2013
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 Period2014
Assets$10,000 to $24,999
Income$25,000 to $99,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$16,679
Amount of Income$79,676
Form 990 Revenue Amount$79,296
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Economic Development


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Amount of income in 2014: $79,676
Medicine Valley Economic Development Inc: 

 $79,676
Other organizations performing similar types of work: 

 $135,279

Assets in 2014: $16,679
Medicine Valley Economic Development Inc: 

 $16,679
Other organizations performing similar types of work: 

 $114,906

Expenses in 2003: $37,894
Medicine Valley Economic Development Inc: 

 $37,894
Other organizations performing similar types of work: 

 $121,073

Income to expenses ratio in 2003: 1.0
This organization: 

 1.0
Other organizations performing similar types of work: 

 1.4

Expenses allocated to program services in 2003: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 62.9%

Grants share in income in 2003: 71.3%
Medicine Valley Economic Development Inc: 

 71.3%
Other organizations performing similar types of work: 

 8.8%

Financial snapshot ($)

Revenue for 2003

Assets at end of 2003

Expenses for 2003

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200120022003
Total revenue$39,928$46,973$39,776
Contributions, gifts, grants, and similar amounts received$33,318$40,737$28,364
Program service revenue including government fees and contracts$4,142$5,000$10,000
Membership dues and assessments$2,430$1,225$1,400
Investment income$38$11$11
Gain or (loss) from sales of assets other than inventory$0$0$0
Gross amount from sales of assets other than inventory$0$0$0
Less: cost or other basis and sales expenses$0$0$0
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$0$0$0
Total expenses$36,507$38,383$37,894
Grants and similar amounts paid$0$0$0
Benefits paid to or for members$572$0$0
Salaries, other compensation, and employee benefits$22,083$27,501$27,946
Professional fees and other payments to independent contractors$2,500$1,372$1,845
Occupancy, rent, utilities, and maintenance$9,204$6,991$6,672
Printing, publications, postage, and shipping$1,313$806$932
Other expenses$835$1,711$498
Net assets or fund balances at end of year$-9,751$-1,161$720
Excess or (deficit) for the year$3,421$8,589$1,881
Net assets or fund balances at beginning of year$-13,156$-9,751$-1,161
Other changes in net assets or fund balances$-16$0$0
Balance Sheets
200120022003
Total assets$26,581$28,600$30,481
Cash, savings, and investments$1,181$3,200$5,081
Land and buildings$20,000$20,000$20,000
Other assets$5,400$5,400$5,400
Total liabilities$36,332$29,761$29,761
Net assets or fund balances$-9,751$-1,161$720
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
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this 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)?
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?
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2003)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2003)
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
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
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
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isCommunity Trust
Support Schedule
200020012002
Total$920$39,916$42,148
Gifts, grants, and contributions received$0$38,547$40,737
Membership fees received$900$1,330$1,400
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
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$20$39$11
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2003)
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
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Metropolitan Entertainment & Convention Authority455 N 10th St, Omaha, NE 68102-1151NE1997-12$42,926,249
2Columbus Downtown Development Corporation150 S Front St Ste 210, Columbus, OH 43215-7105OH2002-10$37,620,584
3Structured Employment Economic Development Corporation22 Cortlandt Street 33rd Floor, New York, NY 10007-3107NY1977-01$21,151,237
4Delaware River Waterfront Corporation121 N Columbus Blvd, Philadelphia, PA 19106-1403PA2009-10$11,762,015
5Lubbock Economic Development Alliance Inc1500 Broadway 6th Floor, Lubbock, TX 79401-3117TX2005-01$8,625,518
6Market Lubbock Economic Development Corporation1500 Broadway Ste 600, Lubbock, TX 79401-3100TX1999-04$6,821,251
7Trufund Financial Services Inc1440 Broadway Rm 23, New York, NY 10018-2326NY2005-12$6,686,524
8Wake Forest Innovation Quarter CdcMedical Center Blvd, Winston Salem, NC 27157-0001NC2005-02$5,772,439
9Phelps County Development Corporation502 East Avenue Suite 201 Suite 201, Holdrege, NE 68949-2217NE1999-03$577,803
10Medicine Valley Economic Development IncPo Box 437, Curtis, NE 69025NE2013-11$79,676
11Development Corporation Of North Platte502 S Dewey St, North Platte, NE 69101-5517NE1974-10$620,138
12Gateway Development Corporation1301 Harney St, Omaha, NE 68102-1832NE1991-11$186,580
13Keith County Area Development IncPO BOX 418, Ogallala, NE 69153-0418NE2002-05$170,711
14Nebraska City Area Economic Development Corporation123 S 8th St Ste 7, Nebraska City, NE 68410-2463NE2001-02$146,907
15Cass County Nebraska Economic Development Council918 Washington Ave, Plattsmouth, NE 68048-1146NE2003-12$102,826
16Nebraska Northwest Development Corporation706 W 3rd St, Chadron, NE 69337-2297NE1992-05$87,043
17Greater Lincoln Chamber Foundation1135 M Street Ste 200, Lincoln, NE 68508-2196NE1998-04$79,557
18Butler County Development Board Inc457 D Street, David City, NE 68632NE2000-12$56,000
19Collateral Guarantee Fund Inc1313 Cuming Street, Omaha, NE 68102-4422NE2005-02$50,100
20Bassett Development CorporationPO BOX 548, Bassett, NE 68714-0548NE2006-09$10,516
Number of organizations performing similar types of work
Alaska23
Alabama64
Arkansas29
Arizona41
California299
Colorado47
Connecticut39
District of Columbia35
Delaware8
Florida134
Georgia71
Hawaii27
Iowa63
Idaho15
Illinois108
Indiana79
Kansas46
Kentucky50
Louisiana73
Massachusetts46
Maryland54
Maine37
Michigan101
Minnesota55
Missouri99
Mississippi38
Montana36
North Carolina125
North Dakota13
Nebraska37
New Hampshire25
New Jersey61
New Mexico41
Nevada16
New York213
Ohio149
Oklahoma39
Oregon51
Pennsylvania173
Rhode Island6
South Carolina63
South Dakota34
Tennessee56
Texas168
Utah17
Virginia62
Vermont16
Washington47
Wisconsin61
West Virginia39
Wyoming14
International10
Total3,253

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