Vietnamese Initiatives In Economic Training
- Assets
- $199.2k
- Revenue
- $442.6k
- Investments
- $0.0
- Employees
- 13
- Location
- New Orleans, LA
- Founding
- 04/2002
- Data as of
- 12/2021
- EIN
- 72-1496796
Organization Overview
Vietnamese Initiatives In Economic Training is located in New Orleans, LA. The organization was established in 2002. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Vietnamese Initiatives In Economic Training employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vietnamese Initiatives In Economic Training 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, Vietnamese Initiatives In Economic Training generated $442.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $398.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.9%) per year over the past 7 years. 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
VIETNAMESE INITIATIVES IN ECONOMIC TRAINING WORKS TO DEVELOP EDUCATIONAL AND ECONOMIC TRAINING PROGRAMS, AND ACTS AS A RESOURCE CENTER FOR MINORITY RESIDENTS IN LOUISIANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VOCA - OFFICE FOR VICTIMS OF CRIME/LOUISIANA COMMISSION ON LAW ENFORCEMENT:THROUGH THE VOCA PROGRAM, THE PROGRAM PROVIDES ADVOCACY AND DIRECT SERVICES TO OUR TARGETED NON-ENGLISH SPEAKING UNDERSERVED AND UNDERREPRESENTED INDIVIDUALS AND COMMUNITIES. VIETNAMESE INITIATIVES IN ECONOMIC TRAINING (VIET) PROVIDED DIRECT SERVICES TO THIER CLIENTS DURING THE YEAR.
THE FAMILY FIRST PROGRAM RECEIVES FUNDING FROM THE LOUISIANA DEPT. OF CHILDREN & FAMILY SERVICES (DCFS), UNDER THE FAMILY VIOLENCE PREVENTION & INTERVENTION PROGRAM TO PROVIDE OUTREACH AND EDUCATION SERVICES, INTERPRETING & TRANSLATION, EMPLOYMENT, COUNSELING & REFERRAL SERVICES - TO VICTIMS OF VIOLENCE, SEXUAL ASSAULT AND DATING VIOLENCE.
SNAP-SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM - ASSISTED WITH APPLYING FOR FOOD STAMPS ONLINE,AND PERSONAL OR PHONE ASSISTANCE. ASSISTED WITH APPEALING PROCESS, TRANSLATION AND INTERPRETING SERVICES. PROVIDED EDUCATION AND OUTREACH ON HEALTHY LIFESTYLE CHANGES AND WELLNESS AND PROVIDED HEALTHY COOKING DEMONSTRATIONS. PARTNERED WITH ORGANIZATIONS TO HELP PROMOTE SNAP PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lang Le Executive Direc | Officer | 40 | $63,270 |
Vickie Nguyen Secretarytreas Secretary | Trustee | 2 | $0 |
Terrie Guerin Chairperson Chairman | Trustee | 2 | $0 |
Andrew Le Board Member Board Member | Trustee | 2 | $0 |
Samantha Tran Board Member Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $403,347 |
| All other contributions, gifts, grants, and similar amounts not included above | $30,098 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $433,445 |
| Total Program Service Revenue | $9,187 |
| Investment income | $0 |
| 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 | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $442,632 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $63,270 |
| Compensation of current officers, directors, key employees. | $26,859 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $173,041 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,986 |
| Payroll taxes | $16,896 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,075 |
| Advertising and promotion | $1,775 |
| Office expenses | $3,985 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,900 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,019 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,500 |
| Insurance | $7,332 |
| All other expenses | $20,127 |
| Total functional expenses | $398,104 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,163 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $151,029 |
| 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 | $2,500 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,500 |
| Total assets | $199,192 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $20,269 |
| Deferred revenue | $25,000 |
| 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 | $43,849 |
| Other liabilities | $0 |
| Total liabilities | $89,118 |
| Net assets without donor restrictions | $110,074 |
| 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 | $199,192 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Vietnamese Initiatives In Economic Training has recieved totaling $116,417.
| Awarding Organization | Amount |
|---|---|
Kresge Foundation Troy, MI PURPOSE: THIS GRANT PROVIDES GENERAL OPERATING SUPPORT TO VIETNAMESE INITIATIVES IN ECONOMIC TRAINING (VIET) FOR PROVIDING DIRECT SERVICES TO THE UNDESERVED AND TO LIMITED ENGLISH PROFICIENCY COMMUNITIES IN NEW ORLEANS AS PART OF THE FOUNDATIONS RACIAL JUSTICE RESPONSE PLAN. THIS GRANT FALLS UNDER THE FRONTLINE ORGANIZATIONS STRATEGY WHICH AIMS TO STRENGTHEN PLACE-BASED ORGANIZATIONS FOCUSED ON RACIAL JUSTICE AND LED BY PEOPLE OF COLOR. | $90,000 |
Rockefeller Philanthropy Advisors Inc New York, NY PURPOSE: GENERAL | $20,000 |
The Greater New Orleans Foundation New Orleans, LA PURPOSE: ECONOMIC DEVELOPMENT | $6,417 |
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