Kingsport Residential Development Corporation in Gray, Tennessee (TN)

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Kingsport Residential Development Corporation
Employer Identification Number (EIN)581988707
Name of OrganizationKingsport Residential Development Corporation
In Care of NameRainbow Homes Inc
AddressPO BOX 9054, Gray, TN 37615-9054
ActivitiesLow income housing
SubsectionCharitable Organization
Ruling Date06/1992
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
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$100,000 to $499,999
Income$25,000 to $99,999
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$349,652
Amount of Income$42,974
Form 990 Revenue Amount$42,974
National Taxonomy of Exempt Entities (NTEE)Human Services - Multipurpose and Other: American Red Cross


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Amount of income in 2014: $42,974 (it was $44,332 in 2013)
Kingsport Residential Development Corporation: 

 $42,974
Other organizations performing similar types of work: 

 $221,627

Assets in 2014: $349,652 (it was $360,300 in 2013)
This organization: 

 $349,652
Other organizations performing similar types of work: 

 $349,652

Expenses in 2014: $59,123
This organization: 

 $59,123
Other organizations performing similar types of work: 

 $185,759

Income to expenses ratio in 2014: 0.7
Kingsport Residential Development Corporation: 

 0.7
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2014: 1.0%
Kingsport Residential Development Corporation: 

 1.0%
Other organizations performing similar types of work: 

 73.4%

Financial snapshot ($)

Revenue for 2014

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201220132014
Total revenue$44,790$44,332$42,974
Contributions, gifts, grants, and similar amounts received$716$452$420
Program service revenue including government fees and contracts$44,068$43,877$42,552
Membership dues and assessments$0$0$0
Investment income$6$3$2
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$0$0$0
Gross profit/loss from sales of inventory$0$0$0
Other revenue$0$0$0
Total expenses$63,773$60,309$59,123
Total net assets$289,156$273,179$257,030
Excess/Deficit for the year$-18,983$-15,977$-16,149
Net assets or fund balances at beginning of year$308,139$289,156$273,179
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$273,179$257,030
Balance Sheets
201220132014
Total assets$377,271$360,300$349,652
Total liabilities$88,115$87,121$92,622
Net assets or fund balances$289,156$273,179$257,030
Other Information
201220132014
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 activitiesNoNoNo
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
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?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 2014)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014)
2010 - 2014 Total
Public Support$211,505
Subtotal Support$211,505
Gifts, grants, contributions, and membership fees received$211,505
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
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$0
Total Support$213,444
Public Support$211,505
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$40
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$1,899
Gross receipts from related activities, etc.$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Cottingham Retirement Community330 Straight St Ste 330, Cincinnati, OH 45219-1193OH1993-04$9,734,674
2Neighborhood Development Center Inc663 University Ave W Ste 200, Saint Paul, MN 55104-5097MN1993-05$4,071,765
3Outreach Housing Corporation18208 Preston Rd Ste 9, Dallas, TX 75252TX1992-11$3,124,469
4Housing Development Corporation Of The Clinch Valley795 Womain St, Oak Ridge, TN 37830TN1993-02$1,600,053
5Center For Independent Living Of Southwest Florida Inc2321 Bruner Ln, Fort Myers, FL 33912-1904FL1992-10$607,996
6Construction Works Of Wv Inc600 Leon Sullivan Way, Charleston, WV 25301-1209WV1991-07$347,946
7Grandville Friendship Homes IncPO BOX 551, Grandville, MI 49468-0551MI1993-02$221,627
8Restore Hope Orlando IncPO BOX 568606, Orlando, FL 32856-8606FL1993-01$146,059
9Four Seasons Community Housing Inc, C-O Westminster Corporation328 Kellogg Blvd W, Saint Paul, MN 55102-1900MN1993-07$58,777
10Mcdowell Senior Citizens-Community Center IncPo Box 835, Mc Dowell, KY 41647KY1993-12$55,699
11Main Street Ozark Inc300 W Commercial St, Ozark, AR 72949-3108AR1993-07$45,244
12Kingsport Residential Development CorporationPO BOX 9054, Gray, TN 37615-9054TN1992-06$42,974
13Billings Community Housing Resource Board, Billings Community Housing Resource1643 24th St W, Billings, MT 59102-2677MT1993-07$0
14Mayberry Game Protective Association Scholorship Fund1715 Richardson Road, Westminster, MD 21158MD1990-10$0
Number of organizations performing similar types of work
Arkansas1
Colorado2
Florida3
Georgia1
Kansas1
Kentucky1
Maryland1
Michigan1
Minnesota2
Montana1
North Carolina2
Ohio1
Oregon1
South Carolina1
Tennessee2
Texas1
Virginia1
West Virginia1
Total24

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