Acenet Ventures Inc in Athens, Ohio (OH)

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Acenet Ventures Inc
Employer Identification Number (EIN)311688567
Name of OrganizationAcenet Ventures Inc
In Care of NameJune Holley
Address94 Columbus Rd, Athens, OH 45701-1312
SubsectionCharitable Organization
Ruling Date09/2002
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$100,000 to $499,999
Income$25,000 to $99,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$375,789
Amount of Income$89,399
Form 990 Revenue Amount$89,399
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Urban, Community Economic Development


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Amount of income in 2013: $89,399 (it was $21,545 in 2012)
This organization: 

 $89,399
Other organizations performing similar types of work: 

 $738,131

Assets in 2013: $375,789 (it was $359,392 in 2012)
This organization: 

 $375,789
Other organizations performing similar types of work: 

 $2,863,992

Expenses in 2013: $70,006
This organization: 

 $70,006
Other organizations performing similar types of work: 

 $653,069

Income to expenses ratio in 2013: 1.3
Acenet Ventures Inc: 

 1.3
Other organizations performing similar types of work: 

 1.1

Grants share in income in 2013: 82.8%
Acenet Ventures Inc: 

 82.8%
Other organizations performing similar types of work: 

 37.7%

Financial snapshot ($)

Revenue for 2013

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2010201120122013
Total revenue$33,987$23,327$21,545$89,399
Contributions, gifts, grants, and similar amounts received$0$0$0$74,000
Program service revenue including government fees and contracts$4,141$917$125$615
Membership dues and assessments$0$0$0$0
Investment income$29,846$22,410$21,420$14,784
Gain/Loss from sale of assets other than inventory$0$0$0$0
Net income/loss from gaming and fundraising events$0$0$0$0
Gross profit/loss from sales of inventory$0$0$0$0
Other revenue$0$0$0$0
Total expenses$129,894$46,543$27,704$70,006
Total net assets$-37,744$-60,960$-67,119$-47,726
Excess/Deficit for the year$-95,907$-23,216$-6,159$19,393
Net assets or fund balances at beginning of year$58,163$-37,744$-60,960$-67,119
Other changes in net assets or fund balances$0$0$0$0
Net assets or fund balances at end of year$-67,119$-47,726
Balance Sheets
2010201120122013
Total assets$425,404$404,140$359,392$375,789
Total liabilities$463,148$465,100$426,511$423,515
Net assets or fund balances$-37,744$-60,960$-67,119$-47,726
Other Information
2010201120122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
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?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities$0$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?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
Number of organizations supported1
Sum of amounts of support$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1New York City Economic Development Corporation110 William St Lbby 5, New York, NY 10038-3912NY1985-03$664,016,417
2Self Help Ventures Fund, Englewood Investment Corporation301 W Main St, Durham, NC 27701-3215NC1984-05$50,728,605
3Community Reinvestment Fund Inc801 Nicollet Mall, Minneapolis, MN 55402-2500MN1989-03$28,108,299
4Gateway Economic Development Corporation Of Greater Cleveland758 Bolivar Rd, Cleveland, OH 44115-1222OH1992-06$19,084,226
5Watertown Development CompanyPO BOX 332, Watertown, SD 57201-0332SD1995-10$10,150,876
6Community Action Of South Eastern West Virginia, C A S E Of West Virginia307 Federal Street, Bluefield, WV 24701-3063WV1965-03$9,947,643
7Capitol South Community Urban Redevelopment Corporation150 S Front St Ste 210, Columbus, OH 43215-7105OH1976-03$9,254,727
8City Of Baltimore Development Corporation36 S Charles St Ste 1600, Baltimore, MD 21201-3015MD1992-01$7,940,981
9Monadnock Economic Development Corporation51 Railroad St 101, Keene, NH 03431-3987NH1986-09$6,746,284
10Enterprise Zone Development Corp Of Vineland And MillvilleMillville, NJ 08332NJ$6,451,451
11Granite State Economic Development Corp1 Cate St 5th Fl, Portsmouth, NH 03801-7108NH1989-07$5,654,277
12Hcdc Inc1776 Mentor Ave, Cincinnati, OH 45212-3554OH1988-06$2,418,455
13Bellvue Gardens Community Urban Redevelopment Corporation260 Stetson Street, Cincinnati, OH 45219-2498OH2000-01$1,687,512
14Shorebank Enterprise Group Cleveland540 E 105th Street, Cleveland, OH 44108-4301OH1994-05$738,131
15Community Improvement Corporation16 State St, Gallipolis, OH 45631-1104OH1979-09$66,084
16Community Improvement Corporation Of Cuyahoga Falls Ohio2310 2nd St, Cuyahoga Fls, OH 44221-2530OH1994-04$3,934
17Downtown Cincinnati Inc35 E 7th St Ste 202, Cincinnati, OH 45202-2420OH1994-08$3,009,531
18Downtown Dayton Partnership Corp10 W 2nd St Ste 611, Dayton, OH 45402-1792OH1993-08$1,584,574
19Midtown Cleveland5000 Euclid Ave Ste 100, Cleveland, OH 44103-3752OH1983-05$617,349
20Acenet Ventures Inc94 Columbus Rd, Athens, OH 45701-1312OH2002-09$89,399
Number of organizations performing similar types of work
Alaska1
Alabama2
Arizona1
California7
Connecticut4
Florida6
Georgia2
Hawaii1
Iowa2
Idaho2
Illinois1
Indiana8
Kansas1
Louisiana1
Massachusetts9
Maryland2
Maine1
Michigan6
Minnesota3
Missouri4
Montana1
North Carolina4
Nebraska1
New Hampshire2
New Jersey8
New York23
Ohio13
Oklahoma2
Pennsylvania16
Rhode Island1
South Carolina4
South Dakota3
Texas3
Vermont3
Washington1
Wisconsin4
West Virginia2
Total155

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