St Bernard Economic Development Foundation
- Assets
- $712.4k
- Revenue
- $406.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Chalmette, LA
- Founding
- 08/2007
- Data as of
- 12/2021
- EIN
- 11-3712951
Organization Overview
St Bernard Economic Development Foundation is located in Chalmette, LA. The organization was established in 2007. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, St Bernard Economic Development Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Bernard Economic Development Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, St Bernard Economic Development Foundation generated $406.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $254.8k during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE AND RETAIN JOBS, BUILD PROSPERITY, AND IMPROVE QUALITY OF LIFE IN ST. BERNARD PARISH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF ECONOMIC DEVELOPMENT SUPPORT ACTIVITIES THROUGHOUT ST. BERNARD PARISH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meaghan Mccormack CEO | Officer | 40 | $90,000 |
Bill Haines Vice Chairman | OfficerTrustee | 2 | $0 |
Kim Keene Secretary | Officer | 2 | $0 |
Zeljko Franks Chairman | Officer | 2 | $0 |
Drew Heaphy Treasurer | Officer | 2 | $0 |
Sean Warner Past Chairman | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $405,815 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $405,815 |
| Total Program Service Revenue | $0 |
| Investment income | $509 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $406,324 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $101,964 |
| Compensation of current officers, directors, key employees. | $28,550 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,876 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,194 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,260 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,179 |
| Advertising and promotion | $0 |
| Office expenses | $2,189 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,000 |
| Travel | $2,998 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $392 |
| Insurance | $834 |
| All other expenses | $9,931 |
| Total functional expenses | $254,770 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $710,232 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,158 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $712,390 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,218 |
| Total liabilities | $1,218 |
| Net assets without donor restrictions | $711,172 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $712,390 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that St Bernard Economic Development Foundation has recieved totaling $95,158.
| Awarding Organization | Amount |
|---|---|
Arlene And Joseph Meraux Charitable Foundation Violet, LA PURPOSE: DONATION | $56,847 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $20,000 |
Ochsner Clinic Foundation New Orleans, LA PURPOSE: GENERAL ASSISTANCE | $10,000 |
The Greater New Orleans Foundation New Orleans, LA PURPOSE: ECONOMIC DEVELOPMENT | $8,265 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $46 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Old Spanish Trail-Almeda Corridors Redevelopment Authority Houston, TX | $78,272,041 | $12,203,610 |
Centro Public Improvement District San Antonio, TX | $1,647,971 | $6,189,889 |
Maple Avenue Economic Development Corporation Of Dallas Dallas, TX | $11,933,705 | $3,299,961 |
White River Planning & Development Dist Inc Batesville, AR | $13,868,468 | $4,307,468 |
Covenant Community Capital Corporation Houston, TX | $9,362,906 | $2,210,165 |
Divinc Austin, TX | $1,242,173 | $2,296,391 |
The Pyramid Community Development Corporation Houston, TX | $3,288,918 | -$1,072,522 |
Technology & Entrepreneurship Center Of Houston Inc Houston, TX | $3,649,151 | $380,691 |
Regional Community Finance Inc New Orleans, LA | $27,779,646 | $1,353,772 |
Jackson County Economic Development Foundation Inc Pascagoula, MS | $3,810,649 | $1,167,595 |
Austin Revitalization Authority Austin, TX | $2,910,002 | $1,225,921 |
North Delta Regional Planning And Development District Inc Monroe, LA | $2,329,154 | $1,514,261 |