Nola Business Alliance
- Assets
- $6.6m
- Revenue
- $7.1m
- Investments
- $0.0
- Employees
- 23
- Location
- New Orleans, LA
- Founding
- 06/2011
- Data as of
- 12/2021
- 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 12/2021, Nola Business Alliance employed 23 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 12/2021, Nola Business Alliance generated $7.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $5.0m during the year ending 12/2021. While expenses have increased by 8.6% 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
THE NEW ORLEANS BUSINESS ALLIANCE WORKS TO ENSURE THE ECONOMIC SECURITY OF ALL NEW ORLEANIANS BY DIVERSIFYING THE LOCAL ECONOMY, DEVELOPING LOCAL TALENT, AND EXPANDING (CONTINUED ON SCHEDULE O, STATEMENT 2)
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 BUSINESSES AND COMMERCIAL CORRIDORS WITHIN SEVEN NEIGHBORHOODS 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 |
|---|---|---|---|
Norman E Barnum IV President And CEO | Officer | 40 | $220,547 |
Quentin Messer President And CEO | 40 | $157,641 | |
Jeannette Weiland Sr VP Bio Innovation & Special Projects | 40 | $110,292 | |
Thomas Mabon Treasurer | Officer | 2 | $0 |
Gilbert Montano Board Chair | Officer | 2 | $0 |
Adrea Chen Board Vice Chair | Officer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
City Of New Orleans Na | 12/30/21 | $258,000 |
Youthforce Nola Na | 12/30/21 | $200,000 |
Spears Consulting Group Llc Na | 12/30/21 | $165,783 |
Poydras Properties Llc Na | 12/30/21 | $188,629 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $554,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,854,114 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,408,114 |
| Total Program Service Revenue | $0 |
| Investment income | $4,133 |
| 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 | $7,098,750 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,178,954 |
| 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 | $1,979,093 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,755 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $779,107 |
| 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 | $301,732 |
| Office expenses | $1,005 |
| Information technology | $202,733 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $17,819 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,321 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $48,567 |
| Insurance | $30,444 |
| All other expenses | $69,939 |
| Total functional expenses | $4,997,365 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,922,945 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $519,554 |
| 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 | $17,314 |
| Net Land, buildings, and equipment | $75,539 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,034 |
| Total assets | $6,555,386 |
| Accounts payable and accrued expenses | $208,247 |
| 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 | $836,940 |
| Other liabilities | $0 |
| Total liabilities | $1,045,187 |
| Net assets without donor restrictions | $5,510,199 |
| 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 | $6,555,386 |
Grants Awarded
Over the last fiscal year, Nola Business Alliance has awarded $344,150 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
New Orleans, LA PURPOSE: Vocational Studies | $47,829 |
New Orleans, LA PURPOSE: Vocational Studies | $47,296 |
New Orleans, LA PURPOSE: Vocational Studies | $47,157 |
FRIENDSHIP CAPITOL HIGH SCHOOL PURPOSE: Vocational Studies | $42,000 |
New Orleans, LA PURPOSE: Vocational Studies | $40,000 |
New Orleans, LA PURPOSE: Vocational Studies | $34,868 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Nola Business Alliance has recieved totaling $4,610,050.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | $1,650,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | $1,650,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | $1,200,000 |
Conrad N Hilton Foundation Westlake Village, CA PURPOSE: TO SUPPORT A NEW PLANNING PROCESS FOR TALENT AND DATA SOLUTIONS FOR OPPORTUNITY YOUTH. | $100,000 |
United Way Of Southeast Louisiana New Orleans, LA PURPOSE: GRANT FUNDING | $10,000 |
Shell Oil Company Foundation Houston, TX PURPOSE: MG | $50 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Martin Iberia Lafayette Parishes Community Action Agency Lafayette, LA | $1,628,921 | $19,226,376 |
El Paso Community Action Program Project Bravo Inc El Paso, TX | $2,433,349 | $16,653,742 |
Abilene Improvement Corporation Abilene, TX | $4,300,132 | $16,087,347 |
Waterloo Greenway Conservancy Austin, TX | $14,294,713 | $19,654,960 |
Avance Inc San Antonio, TX | $3,341,095 | $14,922,059 |
Northwest Arkansas Council Foundation Springdale, AR | $9,473,428 | $13,530,717 |
Golden Triangle Planning & Development District Inc Starkville, MS | $16,192,589 | $11,220,298 |
First Colony Community Services Association Inc Sugar Land, TX | $19,403,817 | $10,458,068 |
Community Council Of South Central Seguin, TX | $2,045,180 | $10,473,350 |
Downtown Dallas Inc Dallas, TX | $7,773,347 | $10,211,090 |
Lakewest Revitalization Foundation Inc Dallas, TX | $0 | $14,279 |
Mid-Delta Community Services Inc Helena, AR | $2,889,498 | $10,056,138 |