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Nonprofiteer
← NEW ORLEANS STARTUP FUND INC

Form 990 for tax year 2022

Filed by NEW ORLEANS STARTUP FUND INC.

Totals

Total revenue
$220,287
Total expenses
$734,405
Contributions and grants received
$204,360
Grants paid
$0
Program service revenue
$0
Investment income
$15,927
Other revenue
$0
Total assets, end of year
$2,328,588
Total liabilities, end of year
$9,355
Net assets or fund balances, end of year
$2,319,233
Program services expenses (Part IX)
$514,687
Management and general expenses
$219,718
Fundraising expenses
$0
Program service expenses (Part III)
$514,687

Program services were 70.1% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $204,360

  • 1g · Noncash contributions included above

    $11,793

  • 3 · Investment income

    total $15,927 · related or exempt $15,927 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

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

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $150,000 · management and general $150,000

  • 10 · Payroll taxes

    total $11,296 · management and general $11,296

  • 11a · Fees: management

    total $11,793 · program services $11,793

  • 11c · Fees: accounting

    total $10,033 · program services $3,601 · management and general $6,432

  • 11g · Fees: other

    total $55,654 · program services $19,065 · management and general $36,589

  • 13 · Office expenses

    total $262 · program services $47 · management and general $215

  • 14 · Information technology

    total $357 · program services $357

  • 23 · Insurance

    total $11,623 · management and general $11,623

  • 24a · Other expenses: DUES & SUBSCRIPTIONS

    total $3,650 · program services $1,037 · management and general $2,613 · fundraising $0

  • 24b · Other expenses: PROGRAM DEVELOPMENT & OUTREACH

    total $950 · program services $0 · management and general $950 · fundraising $0

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $70,000 · program services $70,000 · management and general $0 · fundraising $0

  • 24d · Other expenses: PROVISION FOR INVESTMENT LOSS

    total $408,787 · program services $408,787 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $892,219 · end of year $852,507

  • 3 · Pledges and grants receivable

    beginning of year $160,000 · end of year $59,567

  • 7 · Other notes and loans receivable

    beginning of year $25,827 · end of year $25,418

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,105 · end of year $1,500

  • 13 · Investments: program-related

    beginning of year $1,754,450 · end of year $1,389,596

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,250 · end of year $9,355

  • 27 · Net assets without donor restrictions

    beginning of year $2,733,351 · end of year $2,319,233

  • 28 · Net assets with donor restrictions

    beginning of year $100,000 · end of year $0

Mission and programs · 2022

Mission

The N.O. Startup Fund is a seed capital fund established by Greater New Orleans businesses and financial leaders to accelerate the growth of early-stage, innovative businesses into venture-ready companies. The Startup Fund's mission is to create jobs and economic prosperity for the ten parish region of Greater N.O. by providing seed capital and business assistance to early-stage firms.

Activities or mission (Part I)

The New Orleans Startup Fund Inc. is a seed capital fund established by Greater New Orleans businesses and financial leaders to accelerate the growth of early-stage, innovative businesses into venture-ready companies. The Startup Fund's mission is to create jobs and economic prosperity for the ten parish regions of Greater N.O. by providing seed capital and business assistance to early-stage firms.

  • Conducted market research and business support to early stage companies demonstrating the potential for job creation and positive economic development on the Greater New Orleans area.

    Expenses $514,687 · Revenue $204,360

As filed on the 2022 return.

Listed in Part VII

  • James Roussel

    President & CEO

    Total calculated
    $150,000
    From this org
    $150,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Matt Wisdom

    Director (Chairman)

    Total calculated
    $0
    Hours/week
    2

  • Ben Allen

    Director (Vice-Chairman)

    Total calculated
    $0
    Hours/week
    2

  • George Wilson

    Director

    Total calculated
    $0
    Hours/week
    2

  • Michael Hecht

    Director

    Total calculated
    $0
    Hours/week
    2

  • Allen Square

    Director

    Total calculated
    $0
    Hours/week
    2

  • Leslie Jacobs

    Director

    Total calculated
    $0
    Hours/week
    2

  • Peyton Bush

    Director (Treasurer)

    Total calculated
    $0
    Hours/week
    2

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
3 November 2023
IRS schema version
2022v5.0
Source object
202303109349302610

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