Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $3,244,686

• 1f · All other contributions, gifts and grants

  $1,840,364

• 1g · Noncash contributions included above

  $252

• 2a · Program service revenue: SPONSORSHIP

  total $113,000 · related or exempt $113,000

• 2b · Program service revenue: MANAGEMENT FEES

  total $112,880 · related or exempt $112,880

• 2c · Program service revenue: WORKFORCE SUMMIT

  total $19,641 · related or exempt $19,641

• 3 · Investment income

  total $13,128 · excluded $13,128

• 7a · Gross sales of assets other than inventory

  securities $121,549

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

  securities $0

• 7c · Gain or loss

  securities $121,549

• 7d · Net gain or loss

  total $121,549 · excluded $121,549

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,767,486 · program services $1,767,486

• 7 · Other salaries and wages

  total $1,102,850 · management and general $1,102,850

• 8 · Pension plan contributions

  total $25,924 · management and general $25,924

• 9 · Other employee benefits

  total $61,361 · management and general $61,361

• 10 · Payroll taxes

  total $75,943 · management and general $75,943

• 11a · Fees: management

  total $1,174,634 · program services $806,074 · management and general $368,560

• 11b · Fees: legal

  total $992 · program services $992

• 11c · Fees: accounting

  total $3,000 · management and general $3,000

• 11g · Fees: other

  total $810,898 · program services $734,477 · management and general $76,421

• 12 · Advertising and promotion

  total $1,873 · program services $1,873

• 13 · Office expenses

  total $12,892 · program services $5,916 · management and general $6,976

• 14 · Information technology

  total $70,876 · program services $70,876

• 17 · Travel

  total $69,223 · program services $61,629 · management and general $7,594

• 19 · Conferences, conventions and meetings

  total $148,214 · program services $145,417 · management and general $2,797

• 24a · Other expenses: DUES & SUBSCRIPTIONS

  total $25,045 · program services $19,285 · management and general $5,760

• 24b · Other expenses: DEVELOPMENT

  total $24,851 · program services $24,851

• 24c · Other expenses: PARKING

  total $20,385 · management and general $20,385

• 24d · Other expenses: TRAINING & DEVELOPMENT

  total $5,909 · program services $5,909

• 24e · All other expenses

  total $1,144 · program services $1,283,389 · management and general -$1,282,245

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $194,898 · end of year $42,585

• 2 · Savings and temporary cash investments

  beginning of year $862,587 · end of year $1,000,965

• 4 · Accounts receivable

  beginning of year $695,229 · end of year $1,511,655

• 11 · Investments: publicly traded securities

  beginning of year $894,565 · end of year $1,016,114

• 17 · Accounts payable and accrued expenses

  beginning of year $514,479 · end of year $1,171,732

• 19 · Deferred revenue

  beginning of year $54,758 · end of year $259,797

• 27 · Net assets without donor restrictions

  beginning of year $1,708,135 · end of year $1,502,907

• 28 · Net assets with donor restrictions

  beginning of year $369,907 · end of year $636,883

The filer's explanations (Part III)

PART I, LINE 8

THE CEO AND PRESIDENT OF THE ORGANIZATION, MICHAEL HECHT, HAS AN EMPLOYMENT CONTRACT WITH THE RELATED ORGANIZATION, GREATER NEW ORLEANS, INC. HIS BASE SALARY WAS APPROVED IN ADVANCE BY THE ORGANIZATION'S GOVERNING BODY THAT IS COMPOSED OF PERSONS WHO DO NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE ARRANGEMENT. THE GOVERNING BODY RELIED ON APPROPRIATE COMPARABLE DATA WHEN APPROVING THE COMPENSATION AND THE GOVERNING BODY ADEQUATELY DOCUMENTED ITS ACTIONS AT THE TIME. IN ADDITION, THE CONTRACT PROVIDES THAT HE HAS THE OPPORTUNITY FOR A BONUS AT THE DISCRETION OF THE BOARD OF DIRECTORS. WHEN DETERMINING THE AMOUNT OF THE BONUS, THE BOARD OF DIRECTORS TAKES INTO ACCOUNT HIS ACCOMPLISHMENTS THROUGHOUT THE YEAR AND RELIES ON APPROPRIATE COMPARABLE DATA. THE BOARD OF DIRECTORS IS COMPOSED OF PERSONS WHO DO NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE ARRANGEMENT AND THEY ADEQUATELY DOCUMENT THEIR ACTIONS AT THE TIME.