Louisiana Minority Business Council Inc

Analysis

Louisiana Minority Business Council Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in October 1985, 41 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 2022, Louisiana Minority Business Council Inc reported income of $1.0m and spending of $906k, spending 90% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $752k to $1.0m (+33%), an average of +10% a year. The sharpest change came in the year to December 2022, when income rose by 35%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Louisiana Minority Business Council Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within LA. Charities of a similar size with the same main cause include Castle Rock Senior Center Incorporated ($1.0m), Soho Broaadway District Management Association ($1.0m) and Street Lab Inc ($1.0m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 78% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $94k (10% of expenses). Other salaries and wages came to $201k. At year end it held assets of $595k against liabilities of $83k, net assets of $512k. It reported 8 employees.