Nola Business Alliance
- Assets
- $4.4m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 26
- Location
- New Orleans, LA
- Founding
- 06/2011
- Data as of
- 12/2022
- EIN
- 27-3654312
Organization Overview
Nola Business Alliance is located in New Orleans, LA. The organization was established in 2011. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Nola Business Alliance employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nola Business Alliance 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, Nola Business Alliance generated $4.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $5.6m during the year ending 12/2022. While expenses have increased by 11.2% 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.
Since 2016, Nola Business Alliance has awarded 36 individual grants totaling $2,152,454. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CHARGED BY THE CITY OF NEW ORLEANS WITH LEADING THE ECONOMIC RECOVERY AND DEVELOPMENT OF ORLEANS PARISH. THE ORGANIZATION'S FOCUS IS TO GROW THE JOB BASE AND SECURE PRIVATE INVESTMENT FOR ORLEANS PARISH BY ATTRACTING CORPORATIONS FOR RELOCATION, RETAINING EXISTING BUSINESS SUPPORTING EXPANSION OF EXISTING BUSINESSES AND DEVELOP RETAIL GROWTH. THE ORGANIZATION ACCOMPLISHES THIS BY CREATING TRANSPARENCY AND LOWERING THE BARRIERS TO MARKET ENTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOLA BUSINESS ALLIANCE IMPLEMENTATION OF THEIR STRATEGIC NEIGHBORHOOD DEVELOPMENT LAUNCHED A PILOT PROGRAM. THIS PROGRAM HELPS SUPPORT DISINVESTMENT COMMUNITIES OF BUSINESS AND COMMERCIAL CORRIDORS WITHIN SEVEN NEIGHBORHOOD IN ORLEANS PARISH. THE YOUTH DEMONSTRATION PROJECT IS ANOTHER PROGRAM THAT PREPARES AND CONNECTS INDIVIDUALS AGED 16 THROUGH 24 TO QUALITY EMPLOYMENT OPPORTUNITIES IN HIGHER WAGES, DEMAND, AND GROWTH INDUSTRIES. ADVANCING CITIES PROGRAM WORKS WITH MULTI-AGENCY COLLABORATIVE AGENCIES AND COMMUNITY STAKEHOLDERS TO DEVELOP INVESTMENT STRATEGIES IN THE BURGEONING BLUE-GREEN INFRASTRUCTURE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Normal Barnum President/ce | Officer | 40 | $261,969 |
Jeanette Weiland VP Bio Innov | 40 | $125,000 | |
Lynette White-Colin Senior VP Sm | 40 | $118,193 | |
Gregory Lawson Ser. Vp' Snd | 40 | $106,267 | |
Latoya Cantrell Mayor City O | Trustee | 2 | $0 |
Jean-Guy Celestin Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Poydras Properties Llc Rent | 12/30/22 | $347,389 |
City Of New Orleans Consulting | 12/30/22 | $258,000 |
Spears Consulting Group Llc Consulting | 12/30/22 | $179,920 |
Operation Spark Consulting | 12/30/22 | $113,904 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $861,940 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,532,593 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,394,533 |
| Total Program Service Revenue | $92,050 |
| Investment income | $4,895 |
| 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 | $4,026,850 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,493,025 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,885,436 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $364,611 |
| Office expenses | $57,786 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $353,094 |
| Travel | $75,550 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $296,856 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,898 |
| Insurance | $32,561 |
| All other expenses | $57,278 |
| Total functional expenses | $5,644,705 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,225,696 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $20,852 |
| Accounts receivable, net | $49,800 |
| 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 | $18,728 |
| Net Land, buildings, and equipment | $59,334 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,034 |
| Total assets | $4,394,444 |
| Accounts payable and accrued expenses | $202,100 |
| 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 | $300,000 |
| Other liabilities | $0 |
| Total liabilities | $502,100 |
| Net assets without donor restrictions | $3,892,344 |
| 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 | $4,394,444 |
Grants Awarded
Over the last fiscal year, Nola Business Alliance has awarded $1,369,593 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
MATHES BRIERRE ARCHITECTS APC PURPOSE: DEVELOPMENT | $29,139 |
BMM COMMUNICATION PURPOSE: DEVELOPMENT | $19,200 |
BUXTON PURPOSE: DEVELOPMENT | $65,000 |
KALEIDOSCOPE PATHWAYS PURPOSE: DEVELOPMENT | $72,000 |
METRO-SOURCE INC PURPOSE: DEVELOPMENT | $20,000 |
NEWCORP PURPOSE: DEVELOPMENT | $110,000 |