CUSTER ECONOMIC DEVELOPMENT CORP: Form 990, tax year 2011

View the entire original 990 at ProPublica ↗

Organization: CUSTER ECONOMIC DEVELOPMENT CORP (EIN 20-0422241)
Tax period: 2011-01-01 to 2011-12-31
Filed: 2012-05-15
IRS object ID: 201201369349304895
Schema version: 2011v1.2
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	2012-05-15T16:06:01-05:00	Timestamp
Tax Period End Date	2011-12-31	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	2011-01-01	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	3088722757	Phone
Date Signed	2012-05-15	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	2011	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	JIM SCOTT	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	1130 NORTH 15TH AVE	AddressLine1
City	BROKEN BOW	City
State	NE	State
ZIP Code	68822	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	539849	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	1184254	ContributionsGrantsPriorYear
Contributions Grants Current Year	504201	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	0	ProgramServiceRevenuePriorYear
Program Service Revenue CY	0	ProgramServiceRevenueCY
Investment Income Prior Year	2225	InvestmentIncomePriorYear
Investment Income Current Year	670	InvestmentIncomeCurrentYear
Other Revenue Prior Year	0	OtherRevenuePriorYear
Other Revenue Current Year	34978	OtherRevenueCurrentYear
Total Revenue Prior Year	1186479	TotalRevenuePriorYear
Total Revenue Current Year	539849	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	39750	SalariesEtcPriorYear
Salaries Etc Current Year	50065	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	639277	OtherExpensePriorYear
Other Expenses Current Year	444772	OtherExpensesCurrentYear
Total Expenses Prior Year	679027	TotalExpensesPriorYear
Total Expenses Current Year	494837	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	507452	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	45012	RevenuesLessExpensesCY
Total Assets BOY	792375	TotalAssetsBOY
Total Assets EOY	811004	TotalAssetsEOY
Total Liabilities BOY	65217	TotalLiabilitiesBOY
Total Liabilities EOY	38835	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	727158	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	772169	NetAssetsOrFundBalancesEOY
Mission Description	ECONOMIC DEVELOPMENT FOR THE CUSTER COUNTY AREA	MissionDescription
Significant New Program Services	0	SignificantNewProgramServices
Significant Change	0	SignificantChange
Expense	494837	Expense
Revenue	539849	Revenue
Description	ECONOMIC DEVELOPMENT	Description
Total Program Service Expense	494837	TotalProgramServiceExpense
Described In501 C3	1	DescribedIn501C3
Schedule B Required	0	ScheduleBRequired
Political Activities	0	PoliticalActivities
Lobbying Activities	0	LobbyingActivities
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
Transaction Related Entity	0	TransactionRelatedEntity
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	Individual Trustee Or DirectorIndividualTrusteeOrDirector	OfficerOfficer	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	Average Hours Per WeekAverageHoursPerWeek
DON CANTRELL
CHAIRMAN	X	X	0	0	0
JERRY ADAMS
VICE CHAIRMAN	X	X	0	0	0
DEB MCCASLIN
SECRETARY	X	X	0	0	0
JEFF VARNEY
TREASURER	X	X	0	0	0
ELIZABETH BABCOCK
CORP PRES	X		46667	0	0	40.00
JAMES SCOTT
EXECUTIVE DIRECTORS	X		0	0	0
JOHN SENNETT
EXECUTIVE DIRECTORS	X		0	0	0
LOREN TAYLOR
EXECUTIVE DIRECTORS	X		0	0	0
RJ THOMAS
EXECUTIVE DIRECTORS	X		0	0	0
MIKE FLINT
EXECUTIVE DIRECTORS	X		0	0	0

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	46667	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	504201	AllOtherContributions
Total Contributions	504201	TotalContributions

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	670	TotalRevenueColumn
Related Or Exempt Function Income	670	RelatedOrExemptFunctionIncome

Other Revenue Misc OtherRevenueMisc (2 entries)

DescriptionDescription	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome
ETHANOL ESCROW - RELEA	26384	26384
MISC	8594	8594

Field	Value	IRS element (for citing)
Total Other Revenue	34978	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	539849	TotalRevenueColumn
Related Or Exempt Function Income	35648	RelatedOrExemptFunctionIncome
Unrelated Business Revenue	0	UnrelatedBusinessRevenue
Exclusion	$0	ExclusionAmount

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	46667	Total
Program Services	46667	ProgramServices

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	3398	Total
Program Services	3398	ProgramServices

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	20	Total
Program Services	20	ProgramServices

Advertising Advertising

Field	Value	IRS element (for citing)
Total	16	Total
Program Services	16	ProgramServices

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	2326	Total
Program Services	2326	ProgramServices

Insurance Insurance

Field	Value	IRS element (for citing)
Total	2595	Total
Program Services	2595	ProgramServices

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices
CUSTER CAMPUS	416600	416600
OPERATING EXP - INTERP	13168	13168
FEES	6666	6666
REIMBURSEMENTS	1847	1847

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	1534	Total
Program Services	1534	ProgramServices

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	494837	Total
Program Services	494837	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	233353	BOY
EOY	254149	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	550552	LandBuildingsEquipmentBasis

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	8470	BOY
EOY	6303	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	792375	BOY
EOY	811004	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	65217	BOY
EOY	38835	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	65217	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	727158	BOY
EOY	772169	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	727158	BOY
EOY	772169	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	792375	BOY
EOY	811004	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	45012	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	77500	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	79537	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	78075	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	1184254	CurrentTaxYearMinus1Year
Current Tax Year	504201	CurrentTaxYear
Total	1923567	Total

Total509 Total509

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	77500	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	79537	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	78075	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	1184254	CurrentTaxYearMinus1Year
Current Tax Year	504201	CurrentTaxYear
Total	1923567	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	1923567	PublicSupportTotal509

Gross Investment Income509 GrossInvestmentIncome509

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	5354	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	2447	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	4424	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	2225	CurrentTaxYearMinus1Year
Current Tax Year	670	CurrentTaxYear
Total	15120	Total

Investment Income And UBTI InvestmentIncomeAndUBTI

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	5354	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	2447	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	4424	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	2225	CurrentTaxYearMinus1Year
Current Tax Year	670	CurrentTaxYear
Total	15120	Total

Other Income509 OtherIncome509

Field	Value	IRS element (for citing)
Current Tax Year	34978	CurrentTaxYear
Total	34978	Total

Total Support Total TotalSupportTotal

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	82854	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	81984	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	82499	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	1186479	CurrentTaxYearMinus1Year
Current Tax Year	539849	CurrentTaxYear
Total	1973665	Total

Field	Value	IRS element (for citing)
Public Support Percentage509	0.97460	PublicSupportPercentage509
Investment Income Percentage	0.00770	InvestmentIncomePercentage
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

Buildings Buildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	458932	OtherCostOrOtherBasis
Book Value	458932	BookValue

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	4300	OtherCostOrOtherBasis
Book Value	4300	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
Total Revenue	539849	TotalRevenue
Total Expenses	494837	TotalExpenses
Excess Or Deficit For Year	45012	ExcessOrDeficitForYear
Excess Or Deficit Per FS	45012	ExcessOrDeficitPerFS

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.