Social Entrepreneurs Of New Orleans
- Assets
- $3.7m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 17
- Location
- New Orleans, LA
- Founding
- 02/2009
- Data as of
- 12/2022
- EIN
- 26-3223585
Organization Overview
Social Entrepreneurs Of New Orleans, operating under the name Propeller A Force For Social Innovation, is located in New Orleans, LA. The organization was established in 2009. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2022, Propeller A Force For Social Innovation employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Propeller A Force For Social Innovation 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 12/2022, Propeller A Force For Social Innovation generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 4 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROPELLER GROWS AND SUPPORTS ENTREPRENEURS TO TACKLE SOCIAL AND ENVIRONMENTAL DISPARITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMPACT ACCELERATOR PROGRAM - PROPELLER'S IMPACT ACCELERATOR IS AN INTERACTIVE 4-MONTH ACCELERATOR PROGRAM THAT PROVIDES STARTUP AND GROWTH ENTREPRENEURS WITH COACHING, COMMUNITY BUILDING, CURRICULUM, AND TECHNICAL ASSISTANCE. OUR PROGRAM ENABLES ENTREPRENEURS TO BUILD VENTURES THAT ARE GROUNDED IN FINANCIAL VIABILITY, SOCIAL IMPACT, RACIAL EQUITY, AND A DEMONSTRATED COMMITMENT TO THE PROSPERITY OF OUR CITY AND REGION.
PROPELLER EMPLOYS A MULTI-FACETED ACCESS TO CAPITAL STRATEGY ENCOMPASSING PROGRAMMATIC COMPONENTS AS WELL AS CAPITAL DEPLOYMENT. IN ADDITION TO CURRICULUM DELIVERED THROUGH THE IMPACT ACCELEREATOR, THE PROPELLER TEAM ALSO DELIVERS FREE AND OPEN-TO-THE-PUBLIC FINANCIAL WELLNESS PROGRAMMING. THIS IS DONE THROUGH A COMBINATION OF GROUP WORKSHOPS AND FOLLOW-ON 1:1 INDIVIDUAL SUPPORT TO HELP DISADVANTAGED ENTREPRENEURS IMPROVE THEIR BUSINESS'S FINANCIAL WELLNESS. WORKSHOP TOPICS ENCOMPASS ACCOUNTING FUNDAMENTALS, UNDERSTANDING FINANCIAL STATEMENTS FOR MANAGERIAL PURPOSES, AND DEBT PREPARATION/MANAGEMENT. INDIVIDUALIZED ASSISTANCE INCLUDES ASSEMBLING AND ANALYZING FINANCIAL STATEMENTS, CREATING BUDGETS AND PROJECTIONS AS WELL AS PREPARING LOAN PACKAGES.
ALUMNI PROGRAM - WITH OVER 250 BUSINESSES AND ORGANIZATIONS IN ITS NETWORK, PROPELLER STRIVES TO PROVIDE CONTINUING SUPPORT AND OPPORTUNITIES TO ENTREPRENEURS AFTER FINISHING THE IMPACT ACCELERATOR PROGRAM. SUPPORT TO ALUMNI VENTURES MAY INCLUDE BUT IS NOT LIMITED TO WORKSHOPS, ROUNDTABLES, COMMUNITY-BUILDING EVENTS, TECHNICAL SUPPORT, AND ACCESS TO NEW NETWORKS BASED ON NEED AND AVAILABLE RESOURCES. WITH RESULT OF THE PANDEMIC, PROPELLER AIMS TO BUILD OFF OF CURRENT ACTIVITIES TO DEVELOP A MORE ROBUST PROGRAM TO BETTER SERVE OUR ALUMNI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrea Chen Founder & CEO | Officer | 40 | $168,868 |
Deirdre Johnson Burel Board Member | Trustee | 0.5 | $0 |
Paula Estrada DE Martin Board Member | Trustee | 0 | $0 |
Jonas Chartock Board Member | Trustee | 0.5 | $0 |
Reuben Teague Board Member | Trustee | 0.5 | $0 |
Adrianne Jackson Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,632 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $231,250 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,657,439 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,890,321 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,032 |
| 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 | $2,230,470 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $130,000 |
| 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. | $168,867 |
| Compensation of current officers, directors, key employees. | $16,846 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $857,505 |
| Pension plan accruals and contributions | $23,259 |
| Other employee benefits | $70,503 |
| Payroll taxes | $72,892 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,332 |
| Fees for services: Accounting | $17,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $10,000 |
| Fees for services: Investment Management | $1,189 |
| Fees for services: Other | $303,877 |
| Advertising and promotion | $6,033 |
| Office expenses | $50,441 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $68,936 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,047 |
| Interest | $53,324 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,113 |
| Insurance | $16,906 |
| All other expenses | $30,592 |
| Total functional expenses | $1,981,751 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,053,805 |
| Savings and temporary cash investments | $354,921 |
| Pledges and grants receivable | $49,365 |
| 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 | $11,797 |
| Net Land, buildings, and equipment | $1,998,625 |
| Investments—publicly traded securities | $228,470 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,696,983 |
| Accounts payable and accrued expenses | $270,844 |
| 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 | $109,404 |
| Secured mortgages and notes payable | $1,153,767 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,984 |
| Total liabilities | $1,552,999 |
| Net assets without donor restrictions | $1,025,605 |
| Net assets with donor restrictions | $1,118,379 |
| 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 | $3,696,983 |
Grants Awarded
Over the last fiscal year, Social Entrepreneurs Of New Orleans has awarded $200,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
THRIVE NEW ORLEANS PURPOSE: THE OBJECTIVE OF THIS GRANT IS TO HELP SMALL BUSINESS OWNERS TO ADDRESS THE COMMON BARRIERS OF ACCESSING CAPITAL, INCLUDING CREDIT SCORES BELOW LENDER THRESHOLDS, INCOMPLETE OR INACCURATE FINANCIAL STATEMENTS, INCOMPLETE OR INACCURATE TAX FILINGS, AND INSUFFICIENT INTERNAL ACCOUNTING SYSTEMS. | $100,000 |
XAVIER UNIVERSITY PURPOSE: THE GRANT WAS PROVIDED TO SUPPORT RESEARCH ON THE IMPACTS OF COVID-19 ON SCHOOL FEEDING OPERATIONS; DETERMINE THE STEPS TAKEN BY ORLEANS PARISH SCHOOLS TO ENSURE THE CONTINUATION OF SCHOOL-BASED FEEDING PROGRAMS DURING COVID-19; ASSESS CHANGES IN MEAL COUNTS AND NUTRITIONAL QUALITY OF MEALS; AND TO COMPILE RECOMMENDATIONS AND BEST PRACTICES TO PREPARE SCHOOLS, FOOD SERVICE MANAGEMENT COMPANIES, AND RELEVANT AGENCIES FOR FUTURE CRISES. | $30,000 |
FUND 17 PURPOSE: THE PROJECT, IN COORDINATION WITH THRIVE NEW ORLEANS ("THRIVE") AND FUND 17, AIMS TO HELP BIPOC SMALL BUSINESS OWNERS ADDRESS COMMON BARRIERS TO ACCESSING CAPITAL, INCLUDING CREDIT SCORES BELOW LENDER THRESHOLDS, INCOMPLETE OR INACCURATE FINANCIAL STATEMENTS, INCOMPLETE OR INACCURATE TAX FILINGS, AND INSUFFICIENT INTERNAL ACCOUNTING SYSTEMS. RECIPIENTS WILL LAUNCH TWO PARALLEL SETS OF ACTIVITIES: 1) WORKSHOP SESSIONS DESIGNED AROUND CORE FINANCIAL MANAGEMENT CONCEPTS, AND 2) 1:1 EXPERT CONSULTING/COACHING PROVIDED TO SMALL BUSINESS OWNERS TO ASSIST WITH SPECIFIC LOAN PACKAGE COMPONENTS. THE ACTIVITIES WILL FOCUS ON KEY TOPICS (E.G. TAX FILING AND PREPARATION, BUSINESS CERTIFICATIONS, QUICKBOOKS TRAINING, CREDIT BUILDING AND COUNSELING, FINANCIAL MANAGERIAL ACCOUNTING, DEBT PREPAREDNESS AND MANAGEMENT, AND PREPARATION OF LOAN PACKAGE. | $70,000 |