Ujamaa Economic Development Corporation
- Assets
- $740.0k
- Revenue
- $803.0k
- Investments
- $0.0
- Employees
- 1
- Location
- New Orleans, LA
- Founding
- 04/2019
- Data as of
- 12/2021
- EIN
- 82-5254066
Organization Overview
Ujamaa Economic Development Corporation is located in New Orleans, LA. The organization was established in 2019. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., 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. Ujamaa Economic Development Corporation 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, Ujamaa Economic Development Corporation generated $803.0k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 41.6% each year . All expenses for the organization totaled $182.3k during the year ending 12/2021. While expenses have increased by 19.3% per year over the past 3 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE UJAMAA ECONOMIC DEVELOPMENT CORPORATION WAS ORGANIZED WITH A MISSION OF EQUITABLE REDEVELOPMENT OF THE CLAIBORNE CORRIDOR AND ADJACENT COMMUNITIES, AND WITH A COMMITMENT BY THE ORGANIZATION'S LEADERSHIP TO ENSURE THE RESIDENT-LED INITIATIVES OF CULTURAL PRESERVATION, ECONOMIC OPPORTUNITY, HOUSING AFFORDABILITY, ENVIRONMENTAL SUSTAINABILITY, AND SAFE AND HEALTHY NEIGHBORHOODS FOR THIS HISTORIC CLAIBORNE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENSURE THE RESIDENT-LED INITIATIVES OF CULTURAL PRESERVATION, ECONOMIC OPPORTUNITY, HOUSING AFFORDABILITY, ENVIRONMENTAL SUSTAINABILITY, AND SAFE AND HEALTHY NEIGHBORHOODS FOR THIS HISTORIC CLAIBORNE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristyna Jones Vice Chair | OfficerTrustee | 2 | $0 |
Jean Guy Celestine Member | Trustee | 1 | $0 |
Beverly Andry Secretary | OfficerTrustee | 1 | $0 |
D Joan Brown Member | Trustee | 1 | $0 |
Fred Johnson Member | Trustee | 1 | $0 |
Judith Dangerfield Chair | Trustee | 2 | $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 | $800,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $800,000 |
| Total Program Service Revenue | $0 |
| 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 | $802,986 |
| 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 | $80,769 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,516 |
| Fees for services: Management | $17,600 |
| Fees for services: Legal | $7,551 |
| Fees for services: Accounting | $2,380 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,050 |
| Advertising and promotion | $1,692 |
| Office expenses | $8,295 |
| Information technology | $1,704 |
| Royalties | $0 |
| Occupancy | $2,088 |
| 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 | $4,782 |
| All other expenses | $9 |
| Total functional expenses | $182,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $734,154 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,863 |
| Total assets | $740,017 |
| 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 | $4,394 |
| Total liabilities | $4,394 |
| Net assets without donor restrictions | $735,623 |
| 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 | $740,017 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Ujamaa Economic Development Corporation has recieved totaling $627,453.
| Awarding Organization | Amount |
|---|---|
Kresge Foundation Troy, MI PURPOSE: OPERATING SUPPORT TO CONTINUE TO BOLSTER UJAMAA ECONOMIC DEVELOPMENT CORPORATION'S CREATIVE PLACEMAKING ACTIVITIES AND PARTICIPATION IN KRESGE'S BUILDING AND SUPPORTING EQUITABLE DEVELOPMENT (BASED) INITIATIVE. | $250,000 |
Ford Foundation New York, NY PURPOSE: GENERAL SUPPORT | $150,000 |
Enterprise Community Partners Inc Columbia, MD PURPOSE: ACQUISITION AND REHAB OF AFFORDABLE HOUSING | $100,000 |
Kresge Foundation Troy, MI PURPOSE: OPERATING SUPPORT TO CONTINUE TO BOLSTER UJAMAA ECONOMIC DEVELOPMENT CORPORATION'S CREATIVE PLACEMAKING ACTIVITIES AND PARTICIPATION IN KRESGE'S BUILDING AND SUPPORTING EQUITABLE DEVELOPMENT (BASED) INITIATIVE. | $100,000 |
The Greater New Orleans Foundation New Orleans, LA PURPOSE: ECONOMIC DEVELOPMENT | $27,453 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pearl River Valley Opportunity Inc Columbia, MS | $20,914,937 | $25,197,406 |
Southern States Millwright Regional Council-Ubcja Russellville, AR | $38,325,316 | $11,623,005 |
Communities In Schools Of Brazoria County Inc Alvin, TX | $741,807 | $4,918,013 |
Gleannloch Farms Community Association Inc Houston, TX | $4,874,124 | $3,880,378 |
Rice-Land Lumber Company Houston, TX | $95,161,715 | $3,705,155 |
Wholesale Beer Distributors Of Texas Inc Austin, TX | $8,362,490 | $3,890,764 |
United Association Of Journeymen & Apprentices Of The Plumbing & Pipe Lubbock, TX | $3,575,076 | $4,109,109 |
Homeless Network Of Texas Austin, TX | $911,580 | $2,708,161 |
Psychotherapeutic Services Of America Dallas, TX | $64,561 | $2,258,175 |
Mississippi Municipal Association Jackson, MS | $3,393,555 | $2,072,518 |
South Central Houston Action Council Inc Houston, TX | $1,936,095 | $988,810 |
Upper Kirby District Foundation Houston, TX | $3,113,175 | $1,280,635 |