Louisiana Debating & Literary Assn
- Assets
- $1.8m
- Revenue
- $709.7k
- Investments
- $0.0
- Employees
- 11
- Location
- New Orleans, LA
- Founding
- 09/1942
- Data as of
- 03/2022
- EIN
- 72-0244040
Organization Overview
Louisiana Debating & Literary Assn is located in New Orleans, LA. The organization was established in 1942. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 03/2022, Louisiana Debating & Literary Assn employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louisiana Debating & Literary Assn is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 03/2022, Louisiana Debating & Literary Assn generated $709.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $662.7k during the year ending 03/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
LITERARY, DEBATING AND SOCIAL ENJOYMENT FOR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LUNCHEON CLUB PRINCIPALLY PROVIDING LUNCH FOR APPROXIMATELY 400 MEMBERS.
CARNIVAL BALL FOR MEMBERS AND GUESTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy C Brennan Treasurer | OfficerTrustee | 2 | $0 |
Gerard A Plauche President | OfficerTrustee | 2 | $0 |
James P Favrot Vice President | OfficerTrustee | 2 | $0 |
David Cl Gibbons Jr Secretary | OfficerTrustee | 2 | $0 |
W David Sumrall III MD Captain | OfficerTrustee | 2 | $0 |
Richard B Montgomery IV Trustee | Trustee | 2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $522,329 |
| Investment income | $46,263 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $37,669 |
| Net Gain/Loss on Asset Sales | $67,280 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $26,721 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $709,710 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $177,325 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,942 |
| Payroll taxes | $22,542 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,136 |
| Fees for services: Other | $8,008 |
| Advertising and promotion | $0 |
| Office expenses | $9,290 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $92,729 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $358 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,650 |
| Insurance | $40,329 |
| All other expenses | $3,728 |
| Total functional expenses | $662,681 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $104,435 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $168,280 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $13,215 |
| Prepaid expenses and deferred charges | $126,651 |
| Net Land, buildings, and equipment | $235,108 |
| Investments—publicly traded securities | $1,117,736 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,765,425 |
| Accounts payable and accrued expenses | $30,913 |
| Grants payable | $0 |
| Deferred revenue | $167,233 |
| 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 | $198,146 |
| Net assets without donor restrictions | $1,567,279 |
| 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 | $1,765,425 |
Endowment Analysis
| Beg. Balance | $951,077 |
| Earnings | $68,472 |
| Admin Expense | $11,136 |
| Ending Balance | $1,008,413 |
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