Iberia Industrial Development Sfoundation
- Assets
- $421.2k
- Revenue
- $417.8k
- Investments
- $0.0
- Employees
- 3
- Location
- New Iberia, LA
- Founding
- 01/1986
- Data as of
- 12/2022
- EIN
- 72-1027792
Organization Overview
Iberia Industrial Development Sfoundation is located in New Iberia, LA. The organization was established in 1986. According to its NTEE Classification (S02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Iberia Industrial Development Sfoundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iberia Industrial Development Sfoundation 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 12/2022, Iberia Industrial Development Sfoundation generated $417.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $389.4k during the year ending 12/2022. 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
PROMOTE INDUSTRIAL AND ECONOMIC DEVELOPMENT FOR EXISTING COMPANIES AND RECRUIT ADDITIONAL INDUSTRIES TO LOCATE IN IBERIA PARISH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RETAIL JOB/BUSINESS DEVELOPMENT SERVICES: WE ASSISTED IN AND FACILITATED THE DEVELOPMENT AND OPENING OF SEVERAL BUSINESSES THAT LOCATED IN IBERIA PARISH. EXAMPLES INCLUDE THE DEVELOPMENT OF A NEW OUTPARCEL AT THE "SHOPS IN NEW IBERIA" SHOPPING CENTER. THE OWNER SECURED A LEASE FOR MATTRESS FIRM TO RENT ONE OF THE THREE AVAILABLE SHOPS. WE HAVE ASSISTED CHURCH ALLEY CAFE AND BISTRO AND "BAMBINOS BURGERS" WITH OPENING NEW LOCATIONS IN NEW IBERIA. WE ALSO HELPED "CANE RIVER PECANS" IN THEIR CONTINUED EXPANSION OF THEIR DOWNTOWN NEW IBERIA FACILITY. WE HAVE ASSISTED WITH THE DEVELOPMENT AND CONSTRUCTION OF A NEW BED AND BREAKFAST BUSINESS IN NEW IBERIA "THE BAITS HOTEL", A NINEROOM MOTOR HOTEL LOCATED ON BAYOU TECHE. THE NEW BUSINESSES WE ASSISTED HAVE CREATED OVER 45 NEW JOBS IN IBERIA PARISH.
MISCELLANEOUS VARIOUS OTHER PROGRAM SERVICES
BUSINESS RETENTION AND EXPANSION SERVICES: WE CONTINUE TO ASSIST AVIATION EXTERIORS IN EXPANDING THE LINES OF SERVICES THEY OFFER IN NEW IBERIA TO INCLUDE AIRCRAFT INTERIOR OVERHAUL, REPAIR AND MAINTENANCE. WE ARE ASSISTING UL LAFAYETTE IN THE UPGRADE OF THEIR BIO-HAZARD LAB FACILITIES AT THE NEW IBERIA RESEARCH CAMPUS. IN ADDITION, WE ARE WORKING CLOSELY WITH THEM IN THE DEVELOPMENT AND CONSTRUCTION OF A NEW TECHNICAL CAMPUS AND GMP MANUFACTURING FACILITY AT PROGRESS POINT BUSINESS PARK. CONSTRUCTION ON THE BIO-HAZARD LAB IS ALMOST COMPLETE, AND THE DESIGN AND PRELIMINARY CONSTRUCTION TESTING ON THE PROPERTY FOR THE TECHNICAL CAMPUS AND GMP MANUFACTURING FACILITY SHOULD START SHORTLY AFTER THE FIRST OF THE YEAR. ANTICIPATED NET NEW JOBS CREATED DUE TO EXPANSION AND RETENTION: 562.
INDUSTRIAL PARK SUPPORT, MARKETING AND DEVELOPMENT SERVICES: WE DEVELOPED AND DISTRIBUTED INFORMATION ON AVAILABLE PROPERTIES AND COMMERCIAL BUILDINGS LOCATED IN IBERIA PARISH, INCLUDING THOSE LOCATED AT THE PORT OF IBERIA, ACADIANA REGIONAL AIRPORT, PROGRESS POINT BUSINESS PARK AND GENERAL PROPERTIES AROUND THE PARISH. WE MARKETED AVAILABLE SITES AND BUILDINGS THROUGH VIRTUAL TRADE SHOWS, WEB BASED SITES DIRECT MAILING TO REAL ESTATE AND SITE SELECTION FIRMS AND RESPONSES TO REQUESTS FOR LOUISIANA ECONOMIC DEVELOPMENT AND REGIONAL ECONOMIC DEVELOPMENT AGENCIES. WE ASSISTED INT EH CERTIFICATION OF ONE NEW CERTIFIED SITES AT ACADIANA REGIONAL AIRPORT INCREASING MARKETING CAPACITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Flash Past Chairperson | OfficerTrustee | 2 | $0 |
Chad Courtois Chairman | OfficerTrustee | 2 | $0 |
Kristie Mcmath-Hebert Vice Chairman | OfficerTrustee | 2 | $0 |
Fran Henderson Secretary/treasurer | OfficerTrustee | 2 | $0 |
Korey Kimball Ex. Cmte. Member At Large | OfficerTrustee | 2 | $0 |
Maurice Mo Songy Public Seat | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $33,250 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $4,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $49,250 |
| Total Program Service Revenue | $369,185 |
| Investment income | $8 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$664 |
| 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 | $417,779 |
| 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. | $157,460 |
| Compensation of current officers, directors, key employees. | $15,746 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $64,705 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,103 |
| Payroll taxes | $16,356 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,818 |
| Office expenses | $9,643 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,490 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,801 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,947 |
| Insurance | $6,645 |
| All other expenses | $8,847 |
| Total functional expenses | $389,430 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $301,235 |
| Savings and temporary cash investments | $29,778 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,318 |
| 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 | $14,146 |
| Net Land, buildings, and equipment | $36,935 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $14,806 |
| Other assets | $0 |
| Total assets | $421,218 |
| Accounts payable and accrued expenses | $2,222 |
| Grants payable | $0 |
| Deferred revenue | $450 |
| 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 | $153,241 |
| Other liabilities | $0 |
| Total liabilities | $155,913 |
| Net assets without donor restrictions | $265,305 |
| 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 | $421,218 |