Greater Laredo Development Foundation in Laredo, Texas (TX)

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Greater Laredo Development Foundation
Employer Identification Number (EIN)741623486
Name of OrganizationGreater Laredo Development Foundation
Address616 Leal St, Laredo, TX 78041-3874
ActivitiesAttracting new industry or retaining industry in an area, Business promotion (chamber of commerce, business league, etc.), Loans or credit reporting
SubsectionSocial Welfare Organization
Ruling Date09/1971
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
Exempt Organization StatusUnconditional Exemption
Tax Period09/2012
Assets$500,000 to $999,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$533,136
Amount of Income$409,674
Form 990 Revenue Amount$409,674

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Financial snapshot ($)

Revenue for 2011

Functional expenses for 2011

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
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 2011)
Total revenue$509,099
Contributions, Gifts, Grants and Other Similar Amounts$62,900
Program Service Revenue$429,807
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$4,340
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$0
Net income from sales of inventory$0
Miscellaneous Revenue$12,052
Statement of Functional Expenses (for 2011)
Total functional expenses$523,360
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$268,146
Payroll taxes$0
Professional fundraising services$0
Balance Sheet (for 2011)
Total assets$825,122
Total liabilities$8,889
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$816,233
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:Not provided
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30Greater Minds Inc2602 Cottage Creek Dr, Pearland, TX 77584-9836TX2005-11$10,959 is not associated with, endorsed by, or sponsored by Greater Laredo Development Foundation and has no official or unofficial affiliation with Greater Laredo Development Foundation