St Tammany Economic Development Foundation Inc
- Assets
- $286.1k
- Revenue
- $822.8k
- Investments
- $0.0
- Employees
- 7
- Location
- Mandeville, LA
- Founding
- Data as of
- 12/2017
- EIN
- 72-0931286
Organization Overview
St Tammany Economic Development Foundation Inc is located in Mandeville, LA. As of 12/2017, St Tammany Economic Development Foundation Inc employed 7 individuals. St Tammany Economic Development Foundation 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 12/2017, St Tammany Economic Development Foundation Inc generated $822.8k in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $3.0m during the year ending 12/2017. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S PURPOSE IS TO PROMOTE A GROWING AND VIBRANT ECONOMY IN ST. TAMMANY BY PLACING PRIORITY ON BUSINESS RETENTION AND ATTRACTION; SUPPORTING ENTREPRENUERSHIP AND SMALL BUSINESS DEVELOPMENT; HELPING CREATE JOB OPPORTUNITIES; AND PRESERVING OUR EXCEPTIONAL QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE FOUNDATION IS TO PROVIDE FOR THE ECONOMIC AND INDUSTRIAL WELFARE OF ST TAMMANY PARISH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shelby Lasalle Jr Chairman | OfficerTrustee | 1 | $0 |
Eric Schouest Vice Chairman | OfficerTrustee | 1 | $0 |
John Ammerman Treasurer | OfficerTrustee | 1 | $0 |
Peter Link Secretary | OfficerTrustee | 1 | $0 |
Bruce Clement Past Chairman | Trustee | 1 | $0 |
Nixon Adams Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $54,700 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,000 |
| 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 | $94,700 |
| Total Program Service Revenue | $697,923 |
| Investment income | $2,988 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,576 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $822,801 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,032,557 |
| 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. | $195,203 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $296,078 |
| Pension plan accruals and contributions | $10,245 |
| Other employee benefits | $24,232 |
| Payroll taxes | $38,215 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $48,520 |
| Fees for services: Accounting | $24,869 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,869 |
| Advertising and promotion | $4,443 |
| Office expenses | $0 |
| Information technology | $9,669 |
| Royalties | $0 |
| Occupancy | $2,702 |
| Travel | $28,672 |
| 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 | $15,707 |
| Insurance | $2,925 |
| All other expenses | $32,251 |
| Total functional expenses | $2,980,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $281,272 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,824 |
| 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 | $286,096 |
| Accounts payable and accrued expenses | $286,096 |
| 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 | $286,096 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |
Grants Awarded
Over the last fiscal year, St Tammany Economic Development Foundation Inc has awarded $2,032,557 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NORTHSHORE COMMUNITY FOUNDATION PURPOSE: TO ASSIST IN THE CREATION OF THE ST. TAMMANY ECONOMIC PROSPERITY (STEP) FUND, WHICH SHALL SUPPORT THE EFFORTS OF ST. TAMMANY PARISH TO CREATE JOBS AND ENHANCE ECONOMIC PROSPERITY WHILE LESSENING THE BURDENS OF THE GOVERNMENT. ADDITIONALLY, TO ASSIST IN THE CREATION OF THE ST. TAMMANY INFRASTRUCTURE (STIF) FUND, WHICH SHALL BE USED TO LESSEN THE BURDENS OF GOVERNMENT BY SUPPORTING PROJECTS WHICH INCREASE AND/OR ENHANCE PUBLIC INFRASTRUCTURE ASSETS IN ST. TAMMANY PARISH. | $1,428,080 |
NORTHSHORE COMMUNITY FOUNDATION PURPOSE: TO ASSIST IN THE CREATION OF THE ST. TAMMANY PARISH DEVELOPMENT DISTRICT FACILITY FUND (STPDDFF), WHICH SHALL BE USED TO LESSEN THE BURDENS OF GOVERNMENT BY PROVIDING FINANCIAL SUPPORT TO ENHANCE AND MAINTAIN FACILITIES THAT ENABLE ST. TAMMANY PARISH DEVELOPMENT DISTRICT TO OPERATE IN A HIGHLY PROFESSIONAL AND EFFICIENT MANNER. | $360,447 |
ST TAMMANY PARISH DEVELOPMENT DISTRICT PURPOSE: TO ASSIST THE ORGANIZATION IN CONTINUING THE OPERATIONS PREVIOUSLY RAN BY THE ST. TAMMANY ECONOMIC DEVELOPMENT FOUNDATION. | $244,030 |