Greater New Orleans Development Foundation
- Assets
- $2.9m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 12
- Location
- New Orleans, LA
- Founding
- 11/1991
- Data as of
- 12/2021
- EIN
- 72-1177207
Organization Overview
Greater New Orleans Development Foundation is located in New Orleans, LA. The organization was established in 1991. 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, Greater New Orleans Development Foundation employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater New Orleans Development 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 12/2021, Greater New Orleans Development Foundation generated $2.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $2.3m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER REGIONAL ECONOMIC DEVELOPMENT AND CREATE QUALITY JOBS WITHIN THE METROPOLITAN NEW ORLEANS AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION ACTS AS A CATALYST FOR ECONOMIC GROWTH AND THE ENHANCEMENT OF QUALITY OF LIFE IN THE TEN PARISHES OF SOUTHEAST LOUISIANA. THE FOUNDATION HAS COLLABORATED WITH ITS DEVELOPMENT ALLIES THROUGHOUT THE REGION TO HELP PROVIDE AN ADEQUATE BASE OF NEW EMPLOYMENT THROUGH JOB INITIATIVES, TO IMPROVE THE QUALITY AND QUANTITY OF EMPLOYMENT THROUGH WORKFORCE DEVELOPMENT AND TO FOSTER ECONOMIC PLANNING AND DEVELOPMENT THROUGH PUBLIC AWARENESS AND COMMUNICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elaine Garvey Secretary & Treasurer | OfficerTrustee | 1 | $0 |
Gay Le Breton Chairwoman Elect | OfficerTrustee | 1 | $0 |
Guy Williams Chairman | OfficerTrustee | 1 | $0 |
Michael Hecht President & CEO | Officer | 40 | $0 |
Dale Benoit Member | Trustee | 1 | $0 |
Patricia Leblanc Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $434,278 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,717,649 |
| Noncash contributions included in lines 1a–1f | $19,035 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,151,927 |
| Total Program Service Revenue | $214,415 |
| Investment income | $2,881 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $57,410 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,426,633 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $32,500 |
| Grants and other assistance to domestic individuals. | $24,000 |
| 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 | $419,093 |
| Pension plan accruals and contributions | $9,187 |
| Other employee benefits | $24,379 |
| Payroll taxes | $29,932 |
| Fees for services: Management | $1,310,459 |
| Fees for services: Legal | $163 |
| Fees for services: Accounting | $2,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $164,995 |
| Advertising and promotion | $6,000 |
| Office expenses | $7,405 |
| Information technology | $68,885 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,088 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,366 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $158 |
| Total functional expenses | $2,295,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $600,431 |
| Savings and temporary cash investments | $573,418 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $656,387 |
| 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 | $1,057,410 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,887,646 |
| Accounts payable and accrued expenses | $513,899 |
| Grants payable | $0 |
| Deferred revenue | $9,500 |
| 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 | $523,399 |
| Net assets without donor restrictions | $1,939,765 |
| Net assets with donor restrictions | $424,482 |
| 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 | $2,887,646 |
Grants Awarded
Over the last fiscal year, Greater New Orleans Development Foundation has awarded $32,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
New Orleans, LA PURPOSE: USDA GNO FOOD AND BEVERAGE ENTREPRENEUR ECOSYSTEM GRANT - 1ST INSTALLMENT | $12,500 |
New Orleans, LA PURPOSE: ROSAMARY FOUNDATION SUBGRANT AWARD FOR CORPORATE INTERNSHIP LEADERSHIP INSTITUTE (CILI). CILI IS DEDICATED TO CULTIVATING EXCELLENCE IN ALL STUDENTS ENROLLED IN 4-YEAR OR GRADUATE PROGRAMS BY CONNECTING THEM TO PAID INTERNSHIPS WHICH PROVIDES A QUALIFIED EXPERIENCE EXCHANGE WITH SKILL-BUILDING AND COMPETENCY DEVELOPMENT ROOTED IN THE FUTURE SUCCESS OF THE NEW ORLEANS REGION AND LOUISIANA TO TRANSFORM AND FACILITATE ECONOMIC GROWTH BY AND FOR ITS OWN PEOPLE. | $10,000 |
New Orleans, LA PURPOSE: PROGRAM FUNDING TO SUPPORT CSED'S COASTAL RESTORATION SUMMER WORKSHOPS IN LOWER 9TH WARD | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Greater New Orleans Development Foundation has recieved totaling $442,604.
| Awarding Organization | Amount |
|---|---|
Walton Family Foundation Inc Bentonville, AR PURPOSE: TO SUPPORT THE GREATER NEW ORLEANS' BUSINESS COMMUNITY'S UNDERSTANDING OF AND PARTICIPATION IN THE COASTAL RESTORATION CONVERSATION. | $225,000 |
The Greater New Orleans Foundation New Orleans, LA PURPOSE: ECONOMIC DEVELOPMENT | $132,271 |
Youth Force Nola New Orleans, LA PURPOSE: CAREER-CONNECTED LEARNING | $52,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $20,000 |
Skillup Coalition San Francisco, CA PURPOSE: ACCELERATE INNOVATION TO SUPPORT STUDENT PARENTS AND BREAK DOWN THE BARRIERS THEY FACE IN ACHIEVING SUCCESS IN POST-SECONDARY EDUCATION. | $13,333 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Lubbock Economic Development Alliance Inc Lubbock, TX | $29,508,777 | $13,680,218 |
Northwest Arkansas Economic Development District Inc Harrison, AR | $3,285,809 | $5,390,544 |
Mcallen Economic Development Corporation Mcallen, TX | $25,789,547 | $5,490,638 |
Greater Brownsville Incentives Corporation Brownsville, TX | $32,068,237 | $6,507,551 |