Friends of Lafitte Corridor Inc

Analysis

Friends of Lafitte Corridor Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in April 2008, 18 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 December 2023, Friends of Lafitte Corridor Inc reported income of $523k and spending of $519k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $269k to $523k (+95%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 50%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Friends of Lafitte Corridor Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within LA. Charities of a similar size with the same main cause include Mind the Gapp ($522k), Renew Moline Inc ($523k) and Passion LA ($522k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $83k (16% of expenses). Other salaries and wages came to $119k. At year end it held assets of $438k against liabilities of $80k, net assets of $358k. It reported 4 employees.