CUSTER ECONOMIC DEVELOPMENT CORP: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: CUSTER ECONOMIC DEVELOPMENT CORP (EIN 20-0422241)
Tax period: 2012-01-01 to 2012-12-31
Filed: 2013-08-15
IRS object ID: 201302279349300885
Schema version: 2012v2.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule D
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-08-15T16:22:07-05:00	Timestamp
Tax Period End Date	2012-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Field	Value	IRS element (for citing)
EIN	470526649	EIN

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	DANA F COLE & COMPANY LLP	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	705 SOUTH D STREET PO BOX 667	AddressLine1
City	BROKEN BOW	City
State	NE	State
ZIP Code	68822	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2012-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	200422241	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	CUSTER ECONOMIC DEVELOPMENT CORPORATION	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	CUST	NameControl
Phone	3088722757	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO Box 545	AddressLine1
City	BROKEN BOW	City
State	NE	State
ZIP Code	68822	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	JEFF VARNEY	Name
Title	TREASURER	Title
Phone	3089351175	Phone
Date Signed	2013-08-15	DateSigned
Authorize Third Party	1	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	Dan M Zach	Name
PTIN	P00249580	PTIN
Phone	3088722407	Phone

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2016-02-25 16:41:14Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	JEFF VARNEY	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	78795 RD 455	AddressLine1
City	ANSLEY	City
State	NE	State
ZIP Code	68814	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	294234	GrossReceipts
Group Return For Affiliates	0	GroupReturnForAffiliates
Organization501c3	X	Organization501c3
Web Site	N/A	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	2004	YearFormation
State Legal Domicile	NE	StateLegalDomicile
Activity Or Mission Description	ECONOMIC DEVELOPMENT FOR THE CUSTER COUNTY AREA	ActivityOrMissionDescription
Nbr Voting Members Governing Body	15	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	15	NbrIndependentVotingMembers
Total Nbr Employees	0	TotalNbrEmployees
Total Nbr Volunteers	0	TotalNbrVolunteers
Total Gross UBI	0	TotalGrossUBI
Net Unrelated Business Txbl Income	0	NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year	504201	ContributionsGrantsPriorYear
Contributions Grants Current Year	282188	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	0	ProgramServiceRevenuePriorYear
Program Service Revenue CY	0	ProgramServiceRevenueCY
Investment Income Prior Year	670	InvestmentIncomePriorYear
Investment Income Current Year	736	InvestmentIncomeCurrentYear
Other Revenue Prior Year	34978	OtherRevenuePriorYear
Other Revenue Current Year	11310	OtherRevenueCurrentYear
Total Revenue Prior Year	539849	TotalRevenuePriorYear
Total Revenue Current Year	294234	TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year	0	GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year	0	BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	50065	SalariesEtcPriorYear
Salaries Etc Current Year	48784	SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year	0	TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	444772	OtherExpensePriorYear
Other Expenses Current Year	242008	OtherExpensesCurrentYear
Total Expenses Prior Year	494837	TotalExpensesPriorYear
Total Expenses Current Year	290792	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	45012	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	3442	RevenuesLessExpensesCY
Total Assets BOY	811004	TotalAssetsBOY
Total Assets EOY	814448	TotalAssetsEOY
Total Liabilities BOY	38835	TotalLiabilitiesBOY
Total Liabilities EOY	38835	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	772169	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	775613	NetAssetsOrFundBalancesEOY
Mission Description	ECONOMIC DEVELOPMENT FOR THE CUSTER COUNTY AREA	MissionDescription
Significant New Program Services	0	SignificantNewProgramServices
Significant Change	0	SignificantChange
Expense	290792	Expense
Revenue	294234	Revenue
Description	ECONOMIC DEVELOPMENT	Description
Total Program Service Expense	290792	TotalProgramServiceExpense
Described In501 C3	1	DescribedIn501C3
Schedule B Required	0	ScheduleBRequired
Political Activities	0	PoliticalActivities
Lobbying Activities	0	LobbyingActivities
Subject To Proxy Tax	0	SubjectToProxyTax
Donor Advised Funds	0	DonorAdvisedFunds
Conservation Easements	0	ConservationEasements
Collections Of Art	0	CollectionsOfArt
Credit Counseling	0	CreditCounseling
Term Or Permanent Endowments	0	TermOrPermanentEndowments
Report Land Bldg Equip	1	ReportLandBldgEquip
Report Invest Oth Securities	0	ReportInvestOthSecurities
Report Prog Rel Invest	0	ReportProgRelInvest
Report Other Assets	0	ReportOtherAssets
Report Other Liabilities	1	ReportOtherLiabilities
Report Fin48 Footnote	0	ReportFin48Footnote
Independent Audit Financial Stmt	0	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	0	ConsolidatedAuditFinancialStmt
School	0	School
Foreign Office	0	ForeignOffice
Foreign Activities	0	ForeignActivities
More Than5000 K To Organizations	0	MoreThan5000KToOrganizations
More Than5000 K To Individuals	0	MoreThan5000KToIndividuals
Professional Fundraising	0	ProfessionalFundraising
Fundraising Activities	0	FundraisingActivities
Gaming	0	Gaming
Hospital	0	Hospital
Grants To Organizations	0	GrantsToOrganizations
Grants To Individuals	0	GrantsToIndividuals
Schedule J Required	0	ScheduleJRequired
Tax Exempt Bonds	0	TaxExemptBonds
Excess Benefit Transaction	0	ExcessBenefitTransaction
Prior Excess Benefit Transaction	0	PriorExcessBenefitTransaction
Loan To Officer Or DQP	0	LoanToOfficerOrDQP
Grant To Related Person	0	GrantToRelatedPerson
Bsnss Rltnshp With Organization	0	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	0	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	0	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	0	DeductibleNonCashContributions
Deductible Contributions Of Art	0	DeductibleContributionsOfArt
Terminated	0	Terminated
Partial Liquidation	0	PartialLiquidation
Disregarded Entity	0	DisregardedEntity
Related Entity	0	RelatedEntity
Related Org Controlled Entity	0	RelatedOrgControlledEntity
Transfers To Exempt Non Chrtbl Org	0	TransfersToExemptNonChrtblOrg
Activities Conducted Partnership	0	ActivitiesConductedPartnership
Schedule O Required	1	ScheduleORequired
Number Forms Transmitted With1096	0	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Number Of Employees	0	NumberOfEmployees
Unrelated Business Income	0	UnrelatedBusinessIncome
Foreign Financial Account	0	ForeignFinancialAccount
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTrans
Taxable Party Notification	0	TaxablePartyNotification
Non Deductible Contributions	0	NonDeductibleContributions
Quid Pro Quo Contributions	0	QuidProQuoContributions
Form8282 Property Disposed Of	0	Form8282PropertyDisposedOf
Indoor Tanning Services	0	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	15	NbrVotingGoverningBodyMembers
Number Independent Voting Members	15	NumberIndependentVotingMembers
Family Or Business Relationship	0	FamilyOrBusinessRelationship
Delegation Of Management Duties	0	DelegationOfManagementDuties
Changes To Organizing Docs	0	ChangesToOrganizingDocs
Material Diversion Or Misuse	0	MaterialDiversionOrMisuse
Members Or Stockholders	0	MembersOrStockholders
Election Of Board Members	0	ElectionOfBoardMembers
Decisions Subject To Approval	0	DecisionsSubjectToApproval
Minutes Of Governing Body	1	MinutesOfGoverningBody
Minutes Of Committees	1	MinutesOfCommittees
Officer Mailing Address	0	OfficerMailingAddress
Local Chapters	0	LocalChapters
Form990 Provided To Governing Body	0	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	0	ConflictOfInterestPolicy
Whistleblower Policy	0	WhistleblowerPolicy
Document Retention Policy	0	DocumentRetentionPolicy
Compensation Process CEO	0	CompensationProcessCEO
Compensation Process Other	0	CompensationProcessOther
Investment In Joint Venture	0	InvestmentInJointVenture
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	JIM SCOTT	BusinessNameLine1

Field	Value	IRS element (for citing)
Telephone Number	3088722757	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	PO BOX 545	AddressLine1
City	BROKEN BOW	City
State	NE	State
ZIP Code	68822	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (10 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	OfficerOfficer	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation
DON CANTRELL
CHAIRMAN	0.00	X	X	0	0	0
JERRY ADAMS
VICE CHAIRMAN	0.00	X	X	0	0	0
DEB MCCASLIN
SECRETARY	0.00	X	X	0	0	0
JEFF VARNEY
TREASURER	0.00	X	X	0	0	0
MELISSA GARCIA
CORP PRES	40.00	X		42667	0	0
JAMES SCOTT
EXECUTIVE DIRECTORS	0.00	X		0	0	0
JOHN SENNETT
EXECUTIVE DIRECTORS	0.00	X		0	0	0
LOREN TAYLOR
EXECUTIVE DIRECTORS	0.00	X		0	0	0
RJ THOMAS
EXECUTIVE DIRECTORS	0.00	X		0	0	0
MIKE FLINT
EXECUTIVE DIRECTORS	0.00	X		0	0	0

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	42667	TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs	0	TotalReportableCompFrmRltdOrgs
Total Other Compensation	0	TotalOtherCompensation
Number Individuals GT100 K	0	NumberIndividualsGT100K
Formers Listed	0	FormersListed
Total Comp GT150 K	0	TotalCompGT150K
Compensation From Other Sources	0	CompensationFromOtherSources
Number Of Contractors GT100 K	0	NumberOfContractorsGT100K
All Other Contributions	282188	AllOtherContributions
Total Contributions	282188	TotalContributions

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	736	TotalRevenueColumn
Related Or Exempt Function Income	736	RelatedOrExemptFunctionIncome

Other Revenue Misc OtherRevenueMisc

Field	Value	IRS element (for citing)
Description	MISC	Description
Total Revenue Column	11310	TotalRevenueColumn
Related Or Exempt Function Income	11310	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Other Revenue	11310	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	294234	TotalRevenueColumn
Related Or Exempt Function Income	12046	RelatedOrExemptFunctionIncome
Unrelated Business Revenue	0	UnrelatedBusinessRevenue
Exclusion	$0	ExclusionAmount

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	46375	Total
Program Services	46375	ProgramServices

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	2409	Total
Program Services	2409	ProgramServices

Advertising Advertising

Field	Value	IRS element (for citing)
Total	4117	Total
Program Services	4117	ProgramServices

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	1859	Total
Program Services	1859	ProgramServices

Insurance Insurance

Field	Value	IRS element (for citing)
Total	501	Total
Program Services	501	ProgramServices

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices
CUSTER CAMPUS	176450	176450
BB COUNTRY CLUB	28599	28599
OPERATING EXP - INTERP	10763	10763
FEES/DUES	10220	10220

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	9499	Total
Program Services	9499	ProgramServices

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	290792	Total
Program Services	290792	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	254149	BOY
EOY	259628	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	550552	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	0	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	550552	BOY
EOY	550552	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	6303	BOY
EOY	4268	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	811004	BOY
EOY	814448	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	38835	BOY
EOY	38835	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	38835	BOY
EOY	38835	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds

Field	Value	IRS element (for citing)
BOY	0	BOY
EOY	0	EOY

Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund

Field	Value	IRS element (for citing)
BOY	0	BOY
EOY	0	EOY

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

Field	Value	IRS element (for citing)
BOY	772169	BOY
EOY	775613	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	772169	BOY
EOY	775613	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	811004	BOY
EOY	814448	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	3442	ReconcilationRevenueExpenses
Reconcilation Other Changes	0	ReconcilationOtherChanges
Method Of Accounting Cash	X	MethodOfAccountingCash
Accountant Compile Or Review	0	AccountantCompileOrReview
FS Audited	0	FSAudited
Federal Grant Audit Required	0	FederalGrantAuditRequired

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Publicly Supported Org509a2	X	PubliclySupportedOrg509a2

Gifts Grants Contrib Received509 GiftsGrantsContribReceived509

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	79537	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	78075	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	1184254	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	504201	CurrentTaxYearMinus1Year
Current Tax Year	282188	CurrentTaxYear
Total	2128255	Total

Total509 Total509

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	79537	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	78075	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	1184254	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	504201	CurrentTaxYearMinus1Year
Current Tax Year	282188	CurrentTaxYear
Total	2128255	Total

Amts Recd From Disqual Persons AmtsRecdFromDisqualPersons

Field	Value	IRS element (for citing)
Total	0	Total

Amts From Subst Contributors AmtsFromSubstContributors

Field	Value	IRS element (for citing)
Total	0	Total

Support From DQ Ps Etc SupportFromDQPsEtc

Field	Value	IRS element (for citing)
Total	0	Total

Field	Value	IRS element (for citing)
Public Support Total509	2128255	PublicSupportTotal509

Gross Investment Income509 GrossInvestmentIncome509

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	2447	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	4424	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	2225	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	670	CurrentTaxYearMinus1Year
Current Tax Year	736	CurrentTaxYear
Total	10502	Total

Investment Income And UBTI InvestmentIncomeAndUBTI

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	2447	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	4424	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	2225	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	670	CurrentTaxYearMinus1Year
Current Tax Year	736	CurrentTaxYear
Total	10502	Total

Other Income509 OtherIncome509

Field	Value	IRS element (for citing)
Current Tax Year Minus1 Year	34978	CurrentTaxYearMinus1Year
Current Tax Year	11310	CurrentTaxYear
Total	46288	Total

Total Support Total TotalSupportTotal

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	81984	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	82499	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	1186479	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	539849	CurrentTaxYearMinus1Year
Current Tax Year	294234	CurrentTaxYear
Total	2185045	Total

Field	Value	IRS element (for citing)
Public Support Percentage509	0.97400	PublicSupportPercentage509
Prior Year Support Percentage	0.97460	PriorYearSupportPercentage
Investment Income Percentage	0.00480	InvestmentIncomePercentage
Prior Yr Invest Income Percentage	0.00770	PriorYrInvestIncomePercentage
Thirty Three Percnt Tests CY509	X	ThirtyThreePercntTestsCY509

Schedule D IRS990ScheduleD

Land Land

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	87320	OtherCostOrOtherBasis
Book Value	87320	BookValue

Other Land Buildings OtherLandBuildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	463232	OtherCostOrOtherBasis
Book Value	463232	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	550552	TotalOfBookValueLandBuildings

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
Description	CURRENT LIABILITIES	Description
Amount	$38,835	Amount

Field	Value	IRS element (for citing)
Total Of Amounts	38835	TotalOfAmounts

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (2 entries)

Return ReferenceReturnReference	ExplanationExplanation
Form 990, Part VI, Section B, line 11	THE FORM 990 WILL BE PRESENTED TO THE BOARD OF DIRECTORS AT A REGULARLY SCHEDULED BOARD MEETING PRIOR TO THE FILING OF THE FORM 990. DIRECTORS WILL BE ALLOWED TO REVIEW THE FORM AT THE MEETING. IF ADDITIONAL TIME IS NEEDED FOR REVIEW, NECESSARY TIME WILL BE ALLOTTED TO THEM PRIOR TO FILING.
Form 990, Part VI, Section C, line 19	CUSTER ECONOMIC DEVELOPMENT CORPORATION DOES NOT MAKE IT'S GOVERNING DOCUMENTS, CONFILCT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UNLESS REQUESTED OF A BOARD MEMBER.