Loop Nola

Analysis

Loop Nola is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in November 2015, 11 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Loop Nola reported income of $234k and spending of $300k, spending 128% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $270k to $234k (-13%), an average of -3.5% a year. The sharpest change came in the year to June 2023, when income dropped by 23%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Loop Nola sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 56th percentile within LA. Charities of a similar size with the same main cause include Woodford County High School Athletics Boosters Club Inc ($234k), Roxbury Scholarship Foundation Inc ($234k) and Friends of Jefferson-Madison Regional Library Inc ($234k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 51% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $71k (24% of expenses). Other salaries and wages came to $104k. At year end it held assets of $88k against liabilities of $33k, net assets of $55k. It reported 13 employees.