South Louisiana Economic Council Inc
- Assets
- $410.1k
- Revenue
- $631.2k
- Investments
- $0.0
- Employees
- 12
- Location
- Thibodaux, LA
- Founding
- 11/1985
- Data as of
- 12/2021
- EIN
- 58-1641910
Organization Overview
South Louisiana Economic Council Inc is located in Thibodaux, LA. The organization was established in 1985. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, South Louisiana Economic Council Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Louisiana Economic Council Inc 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, South Louisiana Economic Council Inc generated $631.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $584.1k during the year ending 12/2021. While expenses have increased by 3.2% 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, South Louisiana Economic Council Inc has awarded 16 individual grants totaling $236,307. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF ECONOMIC DEVELOPMENT BY ENCOURAGING AREA INDUSTRIES TO EXPAND AND ENTICE INDUSTRY FROM OUT-OF-AREA TO LOCATE IN SOUTH LOUISIANA, TECHNICAL TRAINING FOR EXISTING AND NEW BUSINESSES, AND PROMOTION OF LOUISIANA BUSINESSES IN MEDIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Giardina Vice Chairma | OfficerTrustee | $0 | |
Scott Melancon Chairman | OfficerTrustee | $0 | |
Dr Ken Rachal Secretary/tr | OfficerTrustee | $0 | |
Barry Dufrene Board Member | Trustee | $0 | |
Mark Folse Board Member | Trustee | $0 | |
Peter Louviere Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $46,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $551,611 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,537 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $631,148 |
| Total Program Service Revenue | $0 |
| Investment income | $25 |
| 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 | $631,173 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $26,875 |
| 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 | $226,802 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,166 |
| 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 | $161,144 |
| Advertising and promotion | $0 |
| Office expenses | $2,820 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $24,243 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,506 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,405 |
| Insurance | $38,368 |
| All other expenses | $4,933 |
| Total functional expenses | $584,145 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,917 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $42,132 |
| Accounts receivable, net | $6,130 |
| 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 | $4,373 |
| Net Land, buildings, and equipment | $86,703 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $236,823 |
| Total assets | $410,078 |
| Accounts payable and accrued expenses | $17,704 |
| Grants payable | $0 |
| Deferred revenue | $4,373 |
| 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 | $201,927 |
| Other liabilities | $0 |
| Total liabilities | $224,004 |
| Net assets without donor restrictions | -$103,485 |
| Net assets with donor restrictions | $289,559 |
| 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 | $410,078 |
Grants Awarded
Over the last fiscal year, South Louisiana Economic Council Inc has awarded $26,875 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Thibodaux, LA PURPOSE: ECONOMIC DEVELOPMENT | $16,875 |
RESTORE OR RETREAT PURPOSE: ECONOMIC DEVELOPMENT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that South Louisiana Economic Council Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
The Greater New Orleans Foundation New Orleans, LA PURPOSE: PUBLIC/SOCIETY BENEFIT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Arkansas Development Council Benton, AR | $22,711,775 | $63,852,394 |
Southern Mississippi Planning And Development District Inc Gulfport, MS | $44,385,657 | $33,837,059 |
Manned Space Flight Education Foundation Incorporated Houston, TX | $76,743,192 | $45,013,359 |
New Orleans & Company New Orleans, LA | $100,855,624 | $31,406,983 |
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
Saisd Historic Preservation Corporation San Antonio, TX | $3,795,273 | $2,962,141 |
Whole Planet Foundation Austin, TX | $10,584,602 | $6,202,281 |
East Central Planning & Development District Inc<410 Decatur St Newton, MS | $22,970,956 | $8,929,943 |
Frazier Revitalization Inc Dallas, TX | $12,774,298 | $14,569,658 |
Corpus Christi Area Convention And Tourist Bureau Inc Corpus Christi, TX | $2,305,137 | $5,577,829 |
Edinburg Economic Development Corporation Edinburg, TX | $67,135,031 | $9,281,578 |
Market Lubbock Economic Development Corporation Lubbock, TX | $8,726,484 | $8,303,064 |