New Orleans Bioinnovation Center Inc

Analysis

New Orleans Bioinnovation Center Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in February 2004, 22 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Orleans Bioinnovation Center Inc reported income of $2.8m and spending of $3.4m, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.8m to $2.8m (+0.6%), an average of +0.1% a year. The sharpest change came in the year to June 2021, when income rose by 72%. Over the whole period it spent 130% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Orleans Bioinnovation Center Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within LA. Charities of a similar size with the same main cause include Hui Malama I Ke Ala Ulili ($2.8m), Women Business Leaders of the U S Health Care Industry Foundation ($2.8m) and Leadership Florida Statewide Community Foundation Inc ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 38% and program service revenue 3.3% of the total. Compensation of current officers, directors and key employees was $188k (5.4% of expenses). Other salaries and wages came to $435k. At year end it held assets of $36.0m against liabilities of $755k, net assets of $35.2m. It reported 14 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.