The Idea Village

Organization Overview

The Idea Village is located in New Orleans, LA. The organization was established in 2003. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Idea Village employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Idea Village 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 06/2022, Idea Village generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (8.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

OUR MISSION IS TO IDENTIFY, SUPPORT, AND RETAIN ENTREPRENEURIAL TALENT IN NEW ORLEANS AND THE SURROUNDING REGION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE IDEA VILLAGE IS A NONPROFIT ACCELERATOR PROGRAM WHOSE CORE BELIEF IS THAT ENTREPRENEURSHIP IS AN AGENT OF SOCIAL AND ECONOMIC CHANGE. AS AN EARLY CHAMPION OF ENTREPRENEURSHIP IN NEW ORLEANS, THE ORGANIZATION HAS PLAYED AN INTEGRAL ROLE IN CATALYZING THE CITY'S ENTREPRENEURIAL MOVEMENT. IN ADDITION TO SUPPORTING OVER 14,955 ENTREPRENEURS, THE IDEA VILLAGE HAS SUCCESSFULLY ELEVATED NEW ORLEANS' REPUTATION AS A HUB OF INNOVATION, ENTREPRENEURSHIP, AND BUSINESS. BY SERVING AS A CATALYST AND DEVELOPING PROGRAMS THAT PROVIDE DIRECT SUPPORT AND EDUCATION TO FOUNDERS AND EARLY-STAGE COMPANIES, THE IDEA VILLAGE HELPS ENTREPRENEURS BUILD INNOVATIVE AND INDUSTRY-LEADING COMPANIES THAT GENERATE REVENUE AND JOBS TO HELP CREATE A MORE VIBRANT, INCLUSIVE, AND RESILIENT LOCAL ECONOMY.WE ALSO CULTIVATE INDUSTRIES OF THE FUTURE THAT WILL WITHSTAND THE TESTS OF NATURAL AND ECONOMIC CRISES. AS THE RESULT OF 20 YEARS OF SUSTAINED INVESTMENT, NEW ORLEANS WAS NAMED IN 2018 AS "ONE OF THE FASTEST GROWING TECH CLUSTERS IN AMERICA," A "TOP 10 CITY FOR AFRICAN AMERICANS AND WOMEN IN TECH, AND A PLACE THAT "LEADS THE USA BY 56% IN STARTUP GROWTH." IN 2022 WE EXPERIENCED 10+ MAJOR EXITS IN THE NEW ORLEANS STARTUP COMMUNITY RESULTING IN OVER $2.5B OF REALIZED VALUE AND OVER $500M IN DIRECT REINVESTMENT. TO FULLY REALIZE NEW ORLEANS' ECONOMIC POTENTIAL WE NEED A SUSTAINED INVESTMENT IN THE INFRASTRUCTURE OF INNOVATION. WE NEED TO ASSEMBLE WORLD CLASS RESOURCES TO CATALYZE AND SUPPORT OUR STARTUP COMPANIES THROUGH THE MOST CRITICAL EARLY STAGES OF DEVELOPMENT. NEW ORLEANS HAS A BROAD TALENT BASE, UNIQUE ACCESS TO CRITICAL INFRASTRUCTURE, AND A FRONT ROW SEAT TO INTERESTING PROBLEMS TO SOLVE. IT IS ALSO A PLACE THAT PEOPLE WANT TO LIVE IN AND WANT TO CALL HOME.PROGRAM HIGHLIGHTSIDEAINSTITUTE IS A 10-WEEK, SELECTIVE, HIGHLY STRUCTURED,IDEA-STAGE ACCELERATOR PROGRAM DESIGNED TO HELP FOUNDERS FROM DIVERSE BACKGROUNDS DEVELOP A CONCEPT INTO A VIABLE BUSINESS. IT FOCUSES ON BUILDING THE PIPELINE OF REPEATABLE, SCALABLE, HIGH-GROWTH POTENTIAL COMPANIES REPRESENTING THE SEEDS OF A HOMEGROWN ECONOMIC DEVELOPMENT STRATEGY THAT CAN MAKE OUR COMMUNITY STRONGER FOR GENERATIONS TO COME. BUILT AROUND THE LEAN STARTUP METHODOLOGY, IT HONES CRITICAL SKILLS IN OPPORTUNITY RECOGNITION, PROBLEM IDENTIFICATION, PROTOTYPING, CUSTOMER DISCOVERY, AND BUSINESS MODEL DEVELOPMENT. THE CURRICULUM IS BASED ON METHODS PILOTED IN THE MBA PROGRAM AT LOYOLA, AND IS TAUGHT BY FACULTY OF THE LOYOLA CENTER FOR ENTREPRENEURSHIP AND COMMUNITY DEVELOPMENT.IDEAINSTITUTE RUNS TWICE PER YEAR. OVER 220 PEOPLE HAVE ALREADY COMPLETED THE 10-WEEK PROGRAM ACROSS SIX COHORTS. THE PROGRAM MAINTAINS A STRONG NET PROMOTER SCORE AND HAS MATRICULATED MULTIPLE COMPANIES TO OUR LATE-STAGE ACCELERATOR, VILLAGEX.VILLAGEX IS OUR PREMIER PROGRAM, A LATE-STAGE ACCELERATOR THAT FOCUSES ON VENTURE PROFILE COMPANIES BRINGING AN INNOVATIVE TECHNOLOGY TO MARKET OR PROVING AN UNKNOWN BUSINESS MODEL. THESE ARE THE TYPES OF COMPANIES THAT CAN GROW TO SUBSTANTIAL SIZE AND SCOPE AND BECOME DOMINANT WITHIN AN INDUSTRY. THEY ARE DRIVERS OF MEANINGFUL ECONOMIC IMPACT AND JOB CREATION. THE TYPES OF BUSINESSES THAT, IF THEY ACHIEVE REAL MARKET TRACTION, CAN HIRE HUNDREDS OF PEOPLE PER YEAR. THE VILLAGEX ACCELERATOR IS FOCUSED ON HELPING COMPANIES CLOSE THE GAP BETWEEN SEED AND SERIES A FINANCING THROUGH A CUSTOMIZED FOCUS ON BUILDING STRENGTH ACROSS THE DIMENSIONS OF TEAM, PRODUCT, TRACTION, AND MARKET OPPORTUNITY. AS AN EXAMPLE, THE THIRTEEN ALUMNI COMPANIES FROM THE 2020 VILLAGEX CYCLE RAISED $9 MILLION IN CAPITAL IN ONLY AN 18-MONTH PERIOD. ACCELERATORS SUCH AS VILLAGEX PROVIDE OPPORTUNITIES FOR EDUCATION, EXPOSURE, CONNECTIONS, AND MOST IMPORTANTLY ACCESS TO NETWORKS AND MENTORSHIP THAT HELPS TO DEMOCRATIZE OPPORTUNITIES TO START AND SCALE HIGH-GROWTH VENTURES. VILLAGEX IS AN ANNUAL PROGRAM.NEW ORLEANS ENTREPRENEUR WEEK (NOEW), TAKES PLACE DURING THE SPRING OF EACH YEAR. AT NOEW, ATTENDEES GATHER TO LEARN FROM A GLOBALLY RECOGNIZED LINEUP OF PANELISTS AND KEYNOTE SPEAKERS AS WELL AS TAKE PART IN PITCH COMPETITIONS, NETWORKING OPPORTUNITIES, AND OTHER EXCITING EVENTS. NOEW IS FREE FOR ATTENDEES AND IS THE LEADING PLATFORM FOR CELEBRATING BUSINESS, INNOVATION, AND ENTREPRENEURIAL THINKING IN NEW ORLEANS AND THE GULF SOUTH. THE EVENT FACILITATES CONNECTIONS AND ELEVATES ENTREPRENEURSHIP THROUGH DISCUSSION, DEBATE, EDUCATION, COMPETITION, AND CELEBRATION. THOUSANDS OF INDIVIDUALS ATTEND NOEW EACH YEAR INCLUDING BUSINESS LEADERS, ENTREPRENEURS, AND EMERGING PROFESSIONALS. NOEW CULMINATES IN IDEAPITCH - A "SHARK TANK" STYLE PITCH COMPETITION AWARDING THE WINNER WITH CASH INVESTMENT.IN ADDITION TO THESE CORE PROGRAMS, THE IDEA VILLAGE'S STRATEGY TO INSPIRE, START, AND SCALE HIGH GROWTH VENTURES IS CONTINUALLY EVOLVING TO MEET THE NEEDS OF OUR FOUNDERS, STARTUP PIPELINE AND OUR COMMUNITY AT LARGE.


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Board, Officers & Key Employees

Name (title)Compensation
Patrick Comer
Former Chair
$0
Merritt Lane
Secretary
$0
Bill Hines
Director
$0
Margaret Beer
Director
$0
Timothy Williamson
Director
$0
Ti Adelaide Martin
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $108,878
All other contributions, gifts, grants, and similar amounts not included above$1,346,518
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,455,396
Total Program Service Revenue$16,264
Investment income $37
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 $1,474,698

Grants Awarded

Over the last fiscal year, The Idea Village has awarded $40,000 in support to 2 organizations.

Grant RecipientAmount

PUPULAR INC

PURPOSE: BUSINESS DEVELOPMENT

$15,000

MASHBALL LLC

PURPOSE: BUSINESS DEVELOPMENT

$25,000
View Grant Profile

Peer Organizations

Organization NameAssets
Dallas Tourism Public Improvement District Corporation
Dallas, TX
$21,845,494
American Productivity & Quality Center Inc
Houston, TX
$19,723,291
San Antonio Tourism Public Improvement District Corporation
San Antonio, TX
$10,625,213
Open Compute Project Foundation
Austin, TX
$10,212,562
Better Business Bureau Of North Central Texas Inc
Dallas, TX
$6,810,526
Arkanasas Pharmacist Association
Little Rock, AR
$6,255,561
Arkansas Capital Corporation
Little Rock, AR
$6,212,873
Dottie System Inc
Baton Rouge, LA
$3,833,862
William A Lawson Institute For Peace & Prosperity
Houston, TX
$3,363,457
Conference Of Consulting Actuaries
Bee Cave, TX
$2,970,056
La Fe Preparatory School Inc
El Paso, TX
$3,057,712
Midland Shared Spaces
Midland, TX
$981,926
Organization Of Hispanic Contractors Inc
Dallas, TX
$1,985,508
Better Business Bureau Of Arkansas Inc
Little Rock, AR
$1,539,020
East End Maker Hub Qalicb Inc
Houston, TX
$892,921
Dallas Chapter A I A
Dallas, TX
$1,686,214
Permian Basin Oil Show Inc
Odessa, TX
$1,794,578
Abret Neurodiagnostic Credentialing And Accreditation
Denton, TX
$1,441,217
The Idea Village
New Orleans, LA
$1,474,698
Better Buisness Bureau Of Central East Texas Inc
Tyler, TX
$1,190,375
Stadium Events Organizing Committee
Arlington, TX
$1,117,500
National Academy Of Construction
Austin, TX
$1,170,475
Arkansas Boll Weevil Eradication Foundation
West Helena, AR
$1,029,082
Louisiana Assessors Association
Baton Rouge, LA
$1,047,596
New Orleans Chamber Of Commerce
New Orleans, LA
$1,012,856

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