Norbcc Inc
- Assets
- $194.9k
- Revenue
- $453.0k
- Investments
- $0.0
- Employees
- 2
- Location
- New Orleans, LA
- Founding
- 07/2012
- Data as of
- 12/2021
- EIN
- 45-5108367
Organization Overview
Norbcc Inc is located in New Orleans, LA. The organization was established in 2012. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Norbcc Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norbcc Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Norbcc Inc generated $453.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 23.0% each year . All expenses for the organization totaled $376.1k during the year ending 12/2021. While expenses have increased by 16.2% per year over the past 4 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 SUPPORT, PROMOTE AND EDUCATE OUR MEMBERS FOR SUSTAINABLE GROWTH AND EXPANSION. ALSO TO EMPOWER AND AND SUSTAIN THE AFRICAN-AMERICAN BUSINESS COMMUNITY THROUGH ENTREPRENEURSHIP AND ECONOMIC ACTIVITY IN THE GREATER NEW ORLEANS AND GLOBAL ECONOMY AS A WHOLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL GOLF TOURNAMENT: NORBCCS ANNUAL GOLF TOURNAMENT IS A PREMIER NETWORKING EVENT HELD TO APPRECIATE THE LOAL NEW ORLEANS BUSINESS COMMUNITY. THIS EXCLUSIVE CHAMBER EVENT IS A GREAT WAY TO BOTH MARKET YOUR COMPANY AND ENJOY A DAY ON THE COURSE.
ANNUAL MEMBERSHIP CAPACITY BUILDING MEETING TO BRING TOGETHER BUSINESS OWNERS, CORPORATE EXECUTIVES, GOVERNMENT OFFICIALS AND OTHERS INTO A POWERFUL NETWORKING AND SKILLS BUILDING FORUM
ANNUAL MEMBERSHIP MEETING: OUR ANNUAL MEMBEHSIP MEETING BRINGS TOGETHER BUSINESS OWNERS, CORPORATE EXECUTIVES, GOVERNMENT OFFICIALS, AND OTHERS INTO A POWERFUL NETWORKING AND RELATIONSHIP-BUILDING FORUM. NORBCC OFFICERS AND BOARD OF DIRECTORS ARE PRESENTED TO MEMBERS AT THE EVENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laverne Toombs Executive Director | OfficerTrustee | 15 | $58,000 |
Arlanda Williams Board Member | Trustee | 2 | $0 |
Margaret Montgomery-Richard Board Member | Trustee | 2 | $0 |
Karl Weber Board Member | Trustee | 2 | $0 |
Ruby Brown Board Member | Trustee | 2 | $0 |
Inez Jordan Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $72,561 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $45,029 |
| All other contributions, gifts, grants, and similar amounts not included above | $335,050 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $452,640 |
| Total Program Service Revenue | $0 |
| Investment income | $342 |
| 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 | $452,982 |
| 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. | $58,000 |
| Compensation of current officers, directors, key employees. | $29,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $38,273 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $322 |
| Payroll taxes | $28,505 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,688 |
| Fees for services: Accounting | $26,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,950 |
| Advertising and promotion | $20,533 |
| Office expenses | $10,454 |
| Information technology | $2,604 |
| Royalties | $0 |
| Occupancy | $18,178 |
| Travel | $481 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,914 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,528 |
| All other expenses | $16,743 |
| Total functional expenses | $376,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $185,618 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,996 |
| 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 | $1,268 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,996 |
| Total assets | $194,878 |
| Accounts payable and accrued expenses | $2,049 |
| Grants payable | $0 |
| Deferred revenue | $5,000 |
| 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 | $90 |
| Other liabilities | $0 |
| Total liabilities | $7,139 |
| Net assets without donor restrictions | $187,739 |
| 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 | $194,878 |