Felicity Street Redevelopment Inc
- Assets
- $1.1m
- Revenue
- $15.7k
- Investments
- $0.0
- Employees
- 1
- Location
- New Orleans, LA
- Founding
- 01/1999
- Data as of
- 12/2023
- EIN
- 72-1421721
Organization Overview
Felicity Street Redevelopment Inc is located in New Orleans, LA. The organization was established in 1999. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Felicity Street Redevelopment Inc 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, Felicity Street Redevelopment Inc generated $15.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (19.0%) each year. All expenses for the organization totaled $38.7k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO REVITALIZE, BY PRESERVING AND RENOVATING A PORTION OF THE CENTRAL CITY OF NEW ORLEANS
Describe the Organization's Program Activity:
Part 3 - Line 4a
REVITALIZATION OF BLIGHTED PROPERTIES: IN ADDITION TO THE PROGRAM EXPENSES REFERENCED ABOVE, IN 2023, THE ORGANIZATION INVESTED $52,492 FOR THE PURCHASE AND REVITALIZATION OF BLIGHTED PROPERTIES IN ITS PORTFOLIO. SUCH EXPENDITURES ARE REFLECTED IN BUILDING AND LAND COSTS REPORTED ON THE BALANCE SHEET (PART X, LINE 10).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paula George President | OfficerTrustee | 10 | $0 |
Colleen Lusignan Secretary | OfficerTrustee | 3 | $0 |
Ouida Laudumiey Director | Trustee | 3 | $0 |
Merlin Jackson Director | Trustee | 3 | $0 |
Kendall Clayton Director | Trustee | 3 | $0 |
Michael Rouchell Director | Trustee | 3 | $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 | $7,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,500 |
| Total Program Service Revenue | $0 |
| Investment income | $1,013 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,150 |
| 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 | $15,663 |
| 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 | $5,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,041 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,097 |
| Fees for services: Accounting | $3,460 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,700 |
| Advertising and promotion | $0 |
| Office expenses | $878 |
| Information technology | $873 |
| Royalties | $0 |
| Occupancy | $6,733 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $3,978 |
| All other expenses | $0 |
| Total functional expenses | $38,704 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $171,444 |
| 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 | $10,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $920,929 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,233 |
| Total assets | $1,113,606 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,125 |
| Total liabilities | $2,125 |
| Net assets without donor restrictions | $1,111,481 |
| 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 | $1,113,606 |