Maingate Business Development Corporation in Cleveland, Ohio (OH)

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Maingate Business Development Corporation
Employer Identification Number (EIN)341675133
Name of OrganizationMaingate Business Development Corporation
In Care of NameJoel I Newman
Address2700 E 40th Street, Cleveland, OH 44115-3500
ActivitiesOther business or professional group
SubsectionCharitable Organization
Ruling Date08/1992
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
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$100,000 to $499,999
Income$25,000 to $99,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$120,260
Amount of Income$96,890
Form 990 Revenue Amount$96,890
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Promotion of Business

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Amount of income in 2011: $96,890 (it was $83,603 in 2010)
Maingate Business Development Corporation: 

Other organizations performing similar types of work: 


Assets in 2011: $120,260 (it was $166,048 in 2010)
Maingate Business Development Corporation: 

Other organizations performing similar types of work: 


Expenses in 2011: $142,678
Maingate Business Development Corporation: 

Other organizations performing similar types of work: 


Income to expenses ratio in 2011: 0.7
Maingate Business Development Corporation: 

Other organizations performing similar types of work: 


Grants share in income in 2011: 94.9%
This organization: 

Other organizations performing similar types of work: 


Financial snapshot ($)

Revenue for 2011

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances (for 2011)
Total revenue$96,890
Contributions, gifts, grants, and similar amounts received$91,977
Program service revenue including government fees and contracts$575
Membership dues and assessments$0
Investment income$188
Gain from sale of assets other than inventory$0
Net income from gaming and fundraising events$0
Gross profit from sales of inventory$0
Other revenue$4,150
Total expenses$142,678
Total net assets$115,633
Deficit for the year$-45,788
Net assets or fund balances at beginning of year$161,421
Other changes in net assets or fund balances$0
Balance Sheets (for 2011)
Total assets$120,260
Total liabilities$4,627
Net assets or fund balances$115,633
Other Information (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNo
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
Reason for Public Charity Status (for 2011)
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 2011)
2007 - 2011 Total
Total support$929,377
Gifts, grants, contributions, and membership fees received$862,256
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$32,500
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$28,447
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Organizations performing similar types of work
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1Network Inc23 Route 6, Andover, CT 06232-1023CT1991-10$10,719,861
2Furniture Foundation IncPO BOX HP7, High Point, NC 27261-1860NC1951-05$1,660,659
3Educational Foundation Of The Georgia Society Of Cpas Inc6 Concourse Pkwy Ste 800, Atlanta, GA 30328-5369GA1959-10$256,311
4Greater Waterbury Chamber Of Commerce Foundation Inc83 Bank Street, Waterbury, CT 06702-2231CT1983-03$214,032
5Ct Douglas School Pto21 Elm St, Acton, MA 01720-2421MA1991-06$106,889
6Maingate Business Development Corporation2700 E 40th Street, Cleveland, OH 44115-3500OH1992-08$96,890
7Minnesota Ice Arena Managers Association8388 81st Street Ln S, Cottage Grove, MN 55016-3664MN1984-02$75,825
8Chest And Foundation Of The Fur Industry Of The City Of New York I40 W 37th St Rm 1200, New York, NY 10018-7324NY1938-09$34,437
9Illinois Bank Examiners Education Foundation320 W Washington, Springfield, IL 62786-0001IL1988-08$33,852
10Psychoanalytic Society Of New England East Inc22 Grosvenor Rd, Needham, MA 02492-4417MA1992-10$33,475
11Fort Worth Chamber Foundation Inc777 Taylor St Ste 900, Fort Worth, TX 76102-4997TX1982-04$29,484
12Huntsville-Madison County Chamber Of Commerce Foundation225 Church St Nw, Huntsville, AL 35801-5542AL1986-09$24,835
13International Dendrological Research Institute Inc, IdriPo Box 812910, Wellesley, MA 02482MA1991-03$1,451
14Burkesville-Cumberland County Development CorporationPo Box 720, Burkesville, KY 42717KY1992-03$0
Number of organizations performing similar types of work
North Carolina1
New York2
Rhode Island1
Total18 is not associated with, endorsed by, or sponsored by Maingate Business Development Corporation and has no official or unofficial affiliation with Maingate Business Development Corporation