Labi Foundation
- Assets
- $46.6k
- Revenue
- $475.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Baton Rouge, LA
- Founding
- 06/2016
- Data as of
- 12/2023
- EIN
- 46-4858854
Organization Overview
Labi Foundation is located in Baton Rouge, LA. The organization was established in 2016. According to its NTEE Classification (J19) the organization is classified as: Support N.E.C., under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Labi Foundation 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 12/2023, Labi Foundation generated $475.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $504.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PARTNER WITH BUSINESS LEADERS TO EDUCATE AND HELP DELIVER SUCCESSFUL STRATEGIES TO MAXIMIZE LOUISIANA'S ECONOMIC POTENTIAL BY OFFERING EDUCATIONAL MATERIALS AND PROGRAMS ON AREAS OF IMPORTANCE IN LOUISIANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OFFERED EDUCATIONAL MATERIALS AND PROGRAMS ON ISSUES OF IMPORTANCE IN THE STATE OF LOUISIANA. THESE ACTIVITIES INCLUDE, BUT ARE NOT LIMITED TO, PANEL DISCUSSIONS, CONFERENCES, PRESENTATIONS, RESEARCH AND COMMUNICATIONS THAT ARE BENEFICIAL TO THE MISSION OF LABI FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maura Donahue President | OfficerTrustee | 1 | $0 |
Reldon Owens Vice President | OfficerTrustee | 1 | $0 |
Clay Allen Treasurer | OfficerTrustee | 1 | $0 |
Christopher Kinsey Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $475,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $475,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $475,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $300,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $1,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $202,716 |
| Advertising and promotion | $0 |
| Office expenses | $164 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $400 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $34 |
| Total functional expenses | $504,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,104 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,520 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $46,624 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $46,624 |
| 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 | $46,624 |
Grants Awarded
Over the last fiscal year, Labi Foundation has awarded $325,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LOUISIANA ASSOCIATION OF BUSINESS AND INDUSTRY PURPOSE: To work with in partnership with business leaders to educate and help deliver successful strategies to maximize economic potential. | $275,000 |
THE COALITION TO RESTORE COASTAL LOUISIANA PURPOSE: To unite people in action to achieve a thriving, sustainable Louisiana coast. | $50,000 |