Form 990 for tax year 2023
Filed by LOUISIANA BUSINESS INCUBATOR ASSOCIATION INCORPORATED.
Totals
- Total revenue
- $202,559
- Total expenses
- $207,253
- Contributions and grants received
- $202,559
- Grants paid
- $180,160
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $243,133
- Total liabilities, end of year
- $185,860
- Net assets or fund balances, end of year
- $57,273
- Program services expenses (Part IX)
- $180,160
- Management and general expenses
- $27,093
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $180,160
Program services were 86.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1b · Membership dues
$2,399
-
1e · Government grants (contributions)
$200,160
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $180,160 · program services $180,160
-
11c · Fees: accounting
total $26,000 · management and general $26,000
-
24a · Other expenses: DUES & SUBSCRIPTIONS
total $1,063 · management and general $1,063
-
24b · Other expenses: BANK CHARGES
total $30 · management and general $30
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $83,767 · end of year $50,713
-
4 · Accounts receivable
beginning of year $60,681 · end of year $192,420
-
17 · Accounts payable and accrued expenses
beginning of year $82,481 · end of year $185,160
-
25 · Other liabilities
beginning of year $0 · end of year $700
-
27 · Net assets without donor restrictions
beginning of year $61,967 · end of year $57,273
Mission and programs · 2023
Mission
TO SUPPORT AND STRENGTHEN BUSINESS INCUBATION (BUSINESS START-UPS) IN LOUISIANA BY HELPING THE 20+ BUSINESS INCUBATORS IN THE STATE PROVIDE THE MOST EFFECTIVE HANDS-ON MANAGEMENT PRINCIPLES AVAILABLE TO HELP ACCELERATE THE GROWTH AND DEVELOPMENT OF NEW BUSINESSES, THEREBY CREATING NEW AND BETTER PAYING JOBS FOR THE CITIZENS OF LOUISIANA.
Activities or mission (Part I)
THE LOUISIANA INCUBATION ASSOCIATION IS COMPRISED OF THE STATE'S PREMIER BUSINESS INCUBATORS AND IS FOCUSED ON ENHANCING THE GROWTH AND DIVERSIFICATION OF BUSINESSES AND ECONOMY IN LOUISIANA.
-
LBIA, UNDER A COOPERATIVE AGREEMENT (CEA) WITH THE LOUISIANA DEPARTMENT OF ECONOMIC DEVELOPMENT (LED), ADMINISTERS A GRANT PROGRAM ENTITLED LED/LBIA BUSINESS INCUBATOR SUPPORT PROGRAM. THE AWARDS MUST BE MATCHED BY A 20% CONTRIBUTION BY THE SELECTED GRANT RECIPIENTS. GRANTS MAY ONLY BE USED FOR CAPITAL ASSETS THAT LAST AT LEAST THREE YEARS AS WELL AS MEET THE FOLLOWING CRITERIA: 1) HELP THE RECIPIENT MEET STATED GOALS OF SERVING THE INCUBATORS' TENANTS/CLIENTS, 2) SAVE OR CREATE JOBS, 3) EXPAND/MODIFY/RENOVATE AN INCUBATOR FACILITY SO THAT THE INCUBATOR CAN PROVIDE ADDITIONAL SERVICES TO ITS TENANTS/CLIENTS, AND 4) INCREASE FUNDING SOURCES FOR ITS TENANTS/CLIENTS. IT IS A REIMBURSEMENT GRANT, PAID BY LED ONLY AFTER DOCUMENTATION IS PROVIDED TO LED THAT FUNDS HAVE BEEN APPROPRIATELY SPENT. A REVIEW COMMITTEE OF 3 MEMBERS REVIEWS GRANT APPLICATIONS AND SCORE THE APPLICATIONS USING REVIEW CRITERIA APPROVED BY LED. UNDER THE CEA, LBIA IS REQUIRED TO HAVE A STATE CERTIFIED CPA FIRM CONDUCT AN ANNUAL REVIEW AND ATTESTATION WHICH MUST BE SUBMITTED TO THE LOUISIANA LEGISLATIVE AUDITORS' OFFICE.
Expenses $180,160 · Grants $180,160 · Revenue $202,559
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Jessica SchieleJESSICA SCHIELE
PRESIDENT
- Total calculated
- $0
- Hours/week
- 6
-
Jason BoudreauxJASON BOUDREAUX
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Vic LafontVIC LAFONT
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Kristi ElliottKRISTI ELLIOTT
TREASURER
- Total calculated
- $0
- Hours/week
- 4
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
-
SUPPORT INCUBATORS IN THEIR MISSION OF CREATING, DEVELOPING, AND MENTORING SMALL BUSINESSES.
-
ST LANDRY PARISH ECONOMIC DEVELOPMENT
$23,984
SUPPORT INCUBATORS IN THEIR MISSION OF CREATING, DEVELOPING, AND MENTORING SMALL BUSINESSES.
-
$23,379
SUPPORT INCUBATORS IN THEIR MISSION OF CREATING, DEVELOPING, AND MENTORING SMALL BUSINESSES.
-
$17,783
SUPPORT INCUBATORS IN THEIR MISSION OF CREATING, DEVELOPING, AND MENTORING SMALL BUSINESSES.
-
LOUISIANA TECHNOLOGY PARK
$17,337
SUPPORT INCUBATORS IN THEIR MISSION OF CREATING, DEVELOPING, AND MENTORING SMALL BUSINESSES.
-
$15,140
SUPPORT INCUBATORS IN THEIR MISSION OF CREATING, DEVELOPING, AND MENTORING SMALL BUSINESSES.
-
ANDRESS ARTIST AND ENTREPRENEUR CENTER
$15,000
SUPPORT INCUBATORS IN THEIR MISSION OF CREATING, DEVELOPING, AND MENTORING SMALL BUSINESSES.
-
$14,976
SUPPORT INCUBATORS IN THEIR MISSION OF CREATING, DEVELOPING, AND MENTORING SMALL BUSINESSES.
-
SUNO SBDMI
$14,021
SUPPORT INCUBATORS IN THEIR MISSION OF CREATING, DEVELOPING, AND MENTORING SMALL BUSINESSES.
-
$8,340
SUPPORT INCUBATORS IN THEIR MISSION OF CREATING, DEVELOPING, AND MENTORING SMALL BUSINESSES.
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 5 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202530949349300013
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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