Greater New Orleans Development Foundation

Analysis

Greater New Orleans Development Foundation is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in November 1991, 35 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, Greater New Orleans Development Foundation reported income of $2.8m and spending of $3.1m, spending 110% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.8m to $2.8m (+60%), an average of +17% a year. The sharpest change came in the year to December 2020, when income rose by 20%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater New Orleans Development Foundation 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 89th percentile, and in the 88th percentile within LA. Charities of a similar size with the same main cause include Riverworks Development Corporation ($2.8m), Cooperative Business Assistance Corporation ($2.8m) and Community Option Resource Enterprises Inc ($2.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 99% and program service revenue 6.5% of the total. Other salaries and wages came to $669k. At year end it held assets of $2.6m against liabilities of $569k, net assets of $2.1m. It reported 12 employees.