New Orleans Jazz & Heritage Foundation Inc

Analysis

New Orleans Jazz & Heritage Foundation Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in April 1971, 55 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 August 2023, New Orleans Jazz & Heritage Foundation Inc reported income of $53.2m and spending of $52.3m, spending 98% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $50.5m to $53.2m (+5.2%), an average of +1.3% a year. The sharpest change came in the year to August 2022, when income rose by 387%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New Orleans Jazz & Heritage Foundation Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within LA. Charities of a similar size with the same main cause include Adrienne Arsht Center Trust Inc ($53.1m), Innovations for Poverty Action ($53.3m) and Kaizen Educational Foundation ($52.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 1.8% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $601k (1.1% of expenses). Other salaries and wages came to $6.5m. At year end it held assets of $45.0m against liabilities of $3.6m, net assets of $41.5m. It reported 995 employees.