Gretna Economic Development Association Limited
- Assets
- $451.4k
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 26
- Location
- Gretna, LA
- Founding
- 09/1994
- Data as of
- 12/2023
- EIN
- 72-1231534
Organization Overview
Gretna Economic Development Association Limited is located in Gretna, LA. The organization was established in 1994. 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 12/2023, Gretna Economic Development Association Limited employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gretna Economic Development Association Limited 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 12/2023, Gretna Economic Development Association Limited generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 24.0% each year . All expenses for the organization totaled $5.2m during the year ending 12/2023. While expenses have increased by 25.0% per year over the past 4 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE BUSINESS CLIMATE WITHIN THE CITY OF GRETNA AS WELL AS PROVIDE A VEHICLE TO ASSIST IN THE DEVELOPMENT OF NEW BUSINESSES.
Describe the Organization's Program Activity:
GRETNA HERITAGE FESTIVAL IN HISTORIC DOWNTOWN GRETNA - FOOD SOLD BY OTHER NON-PROFITS AND RESTAURANTS IN GRETNA, CRAFTS ARE SOLD. ENTERTAINMENT IS PROVIDED BY LOCAL AND NATIONALLY KNOWN BANDS AND PERFORMERS. THE ORGANIZATION USES THE MONEY RAISED FROM TICKETS AND SALES TO FUND OTHER ECONOMIC DEVELOPMENT ACTIVITIES.
FARMERS MARKET - HELD EVERY SATURDAY MORNING. FARMERS/VENDORS RENT BOOTHS TO SELL VARIOUS FRUITS AND VEGETABLES. THE ORGANIZATION USES THE MONEY RAISED FROM THE BOOTH RENTALS TO FUND OTHER ECONOMIC DEVELOPMENT ACTIVITIES.
ITALIAN IRISH PARADE - HELD ANNUALLY IN THE CITY OF GRETNA. THE ORGANIZATION USES THE MONEY RAISED FROM THE PARADE TO FUND OTHER ECONOMIC DEVELOPMENT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teri B Tucker President | Officer | 4 | $0 |
Renee Ferrera Vice President | Officer | 4 | $0 |
Laura Ferrera Secretary | Officer | 4 | $0 |
James Blazek Treasurer | Officer | 4 | $0 |
Kyle Gregore Member At Large | Officer | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lee Brice - Wme Entertainer Contract | 12/30/23 | $200,000 |
Lukas Nelson Creative Artists Entertainer Contract | 12/30/23 | $150,000 |
Trombone Shorty - Wme Entertainer Contract | 12/30/23 | $150,000 |
Lynyrd Skynyrd - Wme Entertainer Contract | 12/30/23 | $425,000 |
Kool The Gang - Pyramid Entertain Entertainer Contract | 12/30/23 | $125,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $16,100 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,583,990 |
| All other contributions, gifts, grants, and similar amounts not included above | $108,559 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,708,649 |
| Total Program Service Revenue | $2,291,772 |
| Investment income | $5,938 |
| 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 | $79,807 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,086,166 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,843 |
| 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. | $56,940 |
| Compensation of current officers, directors, key employees. | $56,940 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,682 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,682 |
| Office expenses | $7,644 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,039 |
| Interest | $159 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $16,525 |
| All other expenses | $5,089,198 |
| Total functional expenses | $5,239,176 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $291,365 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $1,523 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $158,500 |
| Total assets | $451,388 |
| Accounts payable and accrued expenses | $0 |
| 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 | $278,739 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $489,615 |
| Total liabilities | $768,354 |
| Net assets without donor restrictions | -$316,966 |
| 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 | $451,388 |
Grants Awarded
Over the last fiscal year, Gretna Economic Development Association Limited has awarded $60,612 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WEST JEFFERSON MEDICAL CENTER | | | $23,000 |
TOWN OF JEAN LAFITTE | | | $23,806 |
TOWN OF GRAND ISLE | | | $13,806 |