Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $204,946

• 1d · Related organizations

  $1,167,336

• 1e · Government grants (contributions)

  $80,333

• 1f · All other contributions, gifts and grants

  $761,452

• 1g · Noncash contributions included above

  $50,460

• 2a · Program service revenue: TUITION

  total $1,627,345 · related or exempt $1,627,345

• 2b · Program service revenue: LEVERAGE LOAN INTEREST - NMTC

  total $233,288 · related or exempt $233,288

• 2c · Program service revenue: POP-UP CAPSTONE

  total $73,199 · related or exempt $73,199

• 3 · Investment income

  total $91 · excluded $91

• 6a · Gross rents

  real property $1,421,963

• 6b · Less rental expenses

  real property $921,532

• 6c · Rental income or loss

  real property $500,431

• 6d · Net rental income or loss

  total $500,431 · unrelated business -$36,447 · excluded $536,878

• 7a · Gross sales of assets other than inventory

  other assets $2,050

• 7b · Less cost or other basis and sales expenses

  other assets $0

• 7c · Gain or loss

  other assets $2,050

• 7d · Net gain or loss

  total $2,050 · excluded $2,050

• 8a · Fundraising events: gross income

  $59,302

• 8a · Fundraising events: contributions included on line 1c

  $204,946

• 8b · Fundraising events: direct expenses

  $93,892

• 8c · Net income from fundraising events

  total -$34,590 · excluded -$34,590

• 10a · Gross sales of inventory

  $199

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $199 · unrelated business $199

• 11a · Other revenue: VENDING MACHINE

  total $1,413 · related or exempt $1,413

• 11e · Other revenue, total

  $1,413

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $290,017 · program services $290,017

• 5 · Compensation of officers, directors and key employees

  total $302,014 · program services $89,518 · management and general $212,496

• 7 · Other salaries and wages

  total $1,184,912 · program services $792,799 · management and general $286,150 · fundraising $105,963

• 9 · Other employee benefits

  total $118,937 · program services $63,398 · management and general $40,473 · fundraising $15,066

• 10 · Payroll taxes

  total $77,488 · program services $29,307 · management and general $37,434 · fundraising $10,747

• 11b · Fees: legal

  total $7,308 · management and general $7,308

• 11c · Fees: accounting

  total $45,318 · management and general $45,318

• 11e · Fees: professional fundraising services

  total $66,955 · fundraising $66,955

• 11g · Fees: other

  total $28,938 · management and general $28,938

• 12 · Advertising and promotion

  total $72,089 · program services $530 · management and general $71,559

• 13 · Office expenses

  total $83,447 · program services $14,657 · management and general $68,223 · fundraising $567

• 14 · Information technology

  total $155,688 · program services $54,823 · management and general $98,144 · fundraising $2,721

• 16 · Occupancy

  total $2,099,493 · program services $1,714,830 · management and general $384,663

• 17 · Travel

  total $29,674 · program services $15,114 · management and general $13,299 · fundraising $1,261

• 19 · Conferences, conventions and meetings

  total $14,903 · program services $7,720 · management and general $6,485 · fundraising $698

• 20 · Interest

  total $81,821 · program services $71,381 · management and general $10,440

• 22 · Depreciation, depletion and amortization

  total $24,359 · program services $21,251 · management and general $3,108

• 23 · Insurance

  total $30,117 · program services $18,070 · management and general $12,047

• 24a · Other expenses: BAD DEBT EXPENSE

  total $825,041 · program services $197,917 · management and general $626,824 · fundraising $300

• 24b · Other expenses: COOKING SUPPLIES

  total $382,733 · program services $379,908 · management and general $2,825

• 24c · Other expenses: TAXES & LICENSES

  total $2,059 · program services $100 · management and general $1,959

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $157,722 · end of year $281,562

• 2 · Savings and temporary cash investments

  beginning of year $736 · end of year $1,732

• 3 · Pledges and grants receivable

  beginning of year $976,041 · end of year $211,762

• 4 · Accounts receivable

  beginning of year $307,320 · end of year $209,606

• 7 · Other notes and loans receivable

  beginning of year $13,281,500 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $50,380 · end of year $82,347

• 10a · Land, buildings and equipment: cost or other basis

  $608,871

• 10b · Land, buildings and equipment: accumulated depreciation

  $92,992

• 10c · Land, buildings and equipment, net

  beginning of year $109,202 · end of year $515,879

• 15 · Other assets

  beginning of year $2,357,556 · end of year $1,179,841

• 17 · Accounts payable and accrued expenses

  beginning of year $219,870 · end of year $665,090

• 19 · Deferred revenue

  beginning of year $152,188 · end of year $238,330

• 22 · Loans and payables to officers and key people

  beginning of year $392,000 · end of year $890,000

• 23 · Secured mortgages and notes payable

  beginning of year $2,006,454 · end of year $2,068,037

• 25 · Other liabilities

  beginning of year $1,568,336 · end of year $306,981

• 27 · Net assets without donor restrictions

  beginning of year $11,767,110 · end of year -$2,089,178

• 28 · Net assets with donor restrictions

  beginning of year $1,134,499 · end of year $403,469

The filer's explanations (Part III)

PART I, LINE 7

THE ORGANIZATION PROVIDED BONUSES FOR 2024.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• NOCHI IMPACT FUND I LLC

  NMTC TRANSACTION · LA

  Directly controlled by NEW ORLEANS CULINARY & HOSPITALITY INSTITUTE