New Orleans Sponsoring Committee -Together New Orleans

Analysis

New Orleans Sponsoring Committee -Together New Orleans is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in May 2021, 5 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New Orleans Sponsoring Committee -Together New Orleans reported income of $3.7m and spending of $1.1m, leaving 69% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $340k to $3.7m (+986%), an average of +122% a year. The sharpest change came in the year to December 2022, when income rose by 231%. Over the whole period it spent 37% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Orleans Sponsoring Committee -Together New Orleans sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within LA. Charities of a similar size with the same main cause include Texas Preparatory School ($3.7m), Anne Arundel Economic Development Corporation ($3.7m) and Opportunity Junction Inc ($3.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $296k. At year end it held assets of $5.6m against liabilities of $1.7m, net assets of $3.9m. It reported 5 employees.