Civic Intelligence

New Orleans Redevelopment Unlimited Inc

990 • Fiscal year 2018 • EIN 03-0517961

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 30, 2019

Refreshing map…

1409 Oretha Castle Haley BlvdNew Orleans, LA 70113

(504) 658-4400

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.97x

Higher debt load relative to assets than 91% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

90th percentile

1.73x

Higher debt load relative to revenue than 90% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

47th percentile

2.0%

Higher net margin than 47% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

93rd percentile

63%

Faster asset growth than 93% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

84th percentile

38%

Faster revenue growth than 84% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$3,224,038

Up $1,250,611 (+63%) from 2017

Net Assets

Up

$91,733

Up $36,585 (+66%) from 2017

Liabilities

Up

$3,132,305

Up $1,214,026 (+63%) from 2017

Revenue

Up

$1,813,785

Up $494,804 (+38%) from 2017

Expenses

Down

$1,777,200

Down $492,315 (-22%) from 2017

Net Income

Up

$36,585

Up $987,119 (+104%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2011: $713,938Liabilities 2011: $37,706Net Assets 2011: $676,2322011Assets 2012: $2,106,154Liabilities 2012: $772,082Net Assets 2012: $1,334,0722012Assets 2013: $1,957,600Liabilities 2013: $335,463Net Assets 2013: $1,622,1372013Assets 2014: $1,810,145Liabilities 2014: $501,721Net Assets 2014: $1,308,4242014Assets 2015: $2,513,488Liabilities 2015: $1,351,861Net Assets 2015: $1,161,6272015Assets 2016: $3,524,803Liabilities 2016: $2,519,121Net Assets 2016: $1,005,6822016Assets 2017: $1,973,427Liabilities 2017: $1,918,279Net Assets 2017: $55,1482017Assets 2018: $3,224,038Liabilities 2018: $3,132,305Net Assets 2018: $91,7332018Assets 2019: $4,298,417Liabilities 2019: $4,185,528Net Assets 2019: $112,8892019Assets 2020: $5,340,736Liabilities 2020: $5,230,735Net Assets 2020: $110,0012020Assets 2021: $5,774,655Liabilities 2021: $5,671,017Net Assets 2021: $103,6382021Assets 2022: $6,803,233Liabilities 2022: $6,653,272Net Assets 2022: $149,9612022Assets 2023: $8,712,509Liabilities 2023: $8,357,625Net Assets 2023: $354,8842023Assets 2024: $8,275,068Liabilities 2024: $7,660,359Net Assets 2024: $614,7092024

Highlighted filing

2018

Assets$3,224,038
Liabilities$3,132,305
Net Assets$91,733

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $82,262Expenses 2011: $19,274Net Income 2011: $62,9882011Revenue 2012: $624,427Expenses 2012: $185,433Net Income 2012: $438,9942012Revenue 2013: $623,545Expenses 2013: $335,480Net Income 2013: $288,0652013Revenue 2014: $853,743Expenses 2014: $1,164,823Net Income 2014: -$311,0802014Revenue 2015: $1,039,814Expenses 2015: $1,208,612Net Income 2015: -$168,7982015Revenue 2016: $1,621,590Expenses 2016: $1,755,535Net Income 2016: -$133,9452016Revenue 2017: $1,318,981Expenses 2017: $2,269,515Net Income 2017: -$950,5342017Revenue 2018: $1,813,785Expenses 2018: $1,777,200Net Income 2018: $36,5852018Revenue 2019: $1,660,853Expenses 2019: $1,639,697Net Income 2019: $21,1562019Revenue 2020: $1,787,998Expenses 2020: $1,790,886Net Income 2020: -$2,8882020Revenue 2021: $1,361,992Expenses 2021: $1,368,355Net Income 2021: -$6,3632021Revenue 2022: $2,084,618Expenses 2022: $2,038,295Net Income 2022: $46,3232022Revenue 2023: $2,468,836Expenses 2023: $2,263,913Net Income 2023: $204,9232023Revenue 2024: $854,629Expenses 2024: $594,804Net Income 2024: $259,8252024

Highlighted filing

2018

Revenue$1,813,785
Expenses$1,777,200
Net Income$36,585
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 30, 2019
Return Version
2018v3.1
Gross Receipts
$1,813,785
Mission and Program Overview

Mission

New orleans redevelopment unlimited, inc. (noru) was founded in 2004 to: - eliminate and prevent the development or spread of slums. - promote neighborhood revitalization, blight removal, community development and construction of affordable housing that is decent, safe and sanitary for low and moderate income families, including support of efforts of entities so engaged through loans with repayments. - allow the rehabilitation, clearance and redevelopment of slums and blighted areas in the city of new orleans to include but not limited to community improvement plans or projects approved by the governing body of the city of new orleans. - acquire property by negotiation or gift. - dispose of property by sale, lease or gift. - own real estate, to buy or sell, develop or lease, and generally handle, moveable and immovable property of every nature and kind. - do any and all things necessary with full authority to perform all acts necessary or proper to accomplish the purpose expressed or i

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$722,041$1,178,642▲ $456,601
Pledges and Grants Receivable$264,910$947,075▲ $682,165
Investments Other Securities$782,736$841,780▲ $59,044
Cash and Non-Interest-Bearing Accounts$201,565$254,388▲ $52,823
Accounts Receivable$1,688$1,688→ $0
Prepaid Expenses and Deferred Charges$487$465▼ $22
Total Assets$1,973,427$3,224,038▲ $1,250,611
Liabilities
Unsecured Notes Loans Payable$1,271,320$1,724,500▲ $453,180
Accounts Payable and Accrued Expenses$183,398$698,761▲ $515,363
Deferred Revenue$407,035$588,642▲ $181,607
Other Liabilities$56,526$120,402▲ $63,876
Total Liabilities$1,918,279$3,132,305▲ $1,214,026
Net Assets / Fund Balance
Unrestricted Net Assets$55,148$91,733▲ $36,585
Total Net Assets Fund Balance$55,148$91,733▲ $36,585
Total Liabilities and Net Assets / Fund Balance$1,973,427$3,224,038▲ $1,250,611

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$841,780--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Wayne WoodsPresident
Ben TillerMember
Chewy Dang LeMember
James SingletonMember
Lynette ColinMember
Richard CortizasMember
Darrick LeboeufSecretary Tr
Al PetrieVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,777,200
Program Service Revenue
$0
Investment Income
$20,032
Other Revenue
$16,553
Change in Net Assets
$36,585

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,813,785
Total Revenue per Audited Statements
$1,813,785
Total Revenue per Form 990
$1,813,785
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,777,200
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$133,455$6,765-$140,220
Other Expenses$15,588$17,153-$32,741
Occupancy-$3,293-$3,293
Insurance$1,032$1,899-$2,931
Total Functional Expenses$1,748,090$29,110$0$1,777,200

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,777,200
Total Expenses per Audited Statements$1,777,200
Total Expenses per Form 990$1,777,200
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Primary Government$120,402
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The 990 return is reviewed by a member of the finance department of nora, and compared to the general ledger & financial statements, the return is then submitted to the noru board members either by mail or in person for their review and comments.

Form 990, Page 6, Part VI, Line 19

Public information request.

Filing and Contact Details

Filer

Filer Name
New Orleans Redevelopment Unlimited
EIN
03-0517961
Phone
5046584400
Address
1409 ORETHA CASTLE HALEY BLVD, NEW ORLEANS, LA 70113

Signing Officer

Name
Wayne Woods
Title
President
Phone
5046584400
Signed
2019-07-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wayne Woods
Formed
2007
Legal Domicile
La
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Bruno & Tervalon Llp Cpas
Address
4298 ELYSIAN FIELDS AVE, NEW ORLEANS, LA 70122
Preparer
Paul Andoh Sr
Phone
5042848733
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

New orleans redevelopment unlimited, inc. (noru) was founded in 2004 to: - eliminate and prevent the development or spread of slums. - promote neighborhood revitalization, blight removal, community development and construction of affordable housing that is decent, safe and sanitary for low and moderate income families, including support of efforts of entities so engaged through loans with repayments. - allow the rehabilitation, clearance and redevelopment of slums and blighted areas in the city of new orleans to include but not limited to community improvement plans or projects approved by the governing body of the city of new orleans. - acquire property by negotiation or gift. - dispose of property by sale, lease or gift. - own real estate, to buy or sell, develop or lease, and generally handle, moveable and immovable property of every nature and kind. - do any and all things necessary with full authority to perform all acts necessary or proper to accomplish the purpose expressed or implied in these articles, or that may be incidental thereto.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/RevenueSubtotalAmt01813785
IRS990ScheduleD/TotalBookValueSecuritiesAmt0841780
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IRS990ScheduleD/TotalLiabilityAmt0120402
IRS990ScheduleD/TotalRevenuePerForm990Amt01813785
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NEW ORLEANS REDEVELOPMENT UNLIMITED, INC. (NORU) WAS FOUNDED IN 2004 TO: - ELIMINATE AND PREVENT THE DEVELOPMENT OR SPREAD OF SLUMS. - PROMOTE NEIGHBORHOOD REVITALIZATION, BLIGHT REMOVAL, COMMUNITY DEVELOPMENT AND CONSTRUCTION OF AFFORDABLE HOUSING THAT IS DECENT, SAFE AND SANITARY FOR LOW AND MODERATE INCOME FAMILIES, INCLUDING SUPPORT OF EFFORTS OF ENTITIES SO ENGAGED THROUGH LOANS WITH REPAYMENTS. - ALLOW THE REHABILITATION, CLEARANCE AND REDEVELOPMENT OF SLUMS AND BLIGHTED AREAS IN THE CITY OF NEW ORLEANS TO INCLUDE BUT NOT LIMITED TO COMMUNITY IMPROVEMENT PLANS OR PROJECTS APPROVED BY THE GOVERNING BODY OF THE CITY OF NEW ORLEANS. - ACQUIRE PROPERTY BY NEGOTIATION OR GIFT. - DISPOSE OF PROPERTY BY SALE, LEASE OR GIFT. - OWN REAL ESTATE, TO BUY OR SELL, DEVELOP OR LEASE, AND GENERALLY HANDLE, MOVEABLE AND IMMOVABLE PROPERTY OF EVERY NATURE AND KIND. - DO ANY AND ALL THINGS NECESSARY WITH FULL AUTHORITY TO PERFORM ALL ACTS NECESSARY OR PROPER TO ACCOMPLISH THE PURPOSE EXPRESSED OR IMPLIED IN THESE ARTICLES, OR THAT MAY BE INCIDENTAL THERETO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 RETURN IS REVIEWED BY A MEMBER OF THE FINANCE DEPARTMENT OF NORA, AND COMPARED TO THE GENERAL LEDGER & FINANCIAL STATEMENTS, THE RETURN IS THEN SUBMITTED TO THE NORU BOARD MEMBERS EITHER BY MAIL OR IN PERSON FOR THEIR REVIEW AND COMMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PUBLIC INFORMATION REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0179185
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt11770200
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt016553
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IRS990/UponRequestInd0X
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02019-07-30
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ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:34:24
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0720877929
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ReturnHeader/PreparerPersonGrp/PreparationDt02019-07-30
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ReturnHeader/ReturnTs02019-08-20T10:34:24-05:00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.28$7.66$0.61$0.85$0.59$0.26
2023Detailed filing. Detailed filing data is available for this year.$8.71$8.36$0.35$2.47$2.26$0.20
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.80$6.65$0.15$2.08$2.04$0.05
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.77$5.67$0.10$1.36$1.37$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.34$5.23$0.11$1.79$1.79$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.30$4.19$0.11$1.66$1.64$0.02
2018Detailed filing. Detailed filing data is available for this year.$3.22$3.13$0.09$1.81$1.78$0.04
2017Detailed filing. Detailed filing data is available for this year.$1.97$1.92$0.06$1.32$2.27$0.95
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.52$2.52$1.01$1.62$1.76$0.13
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$2.51$1.35$1.16$1.04$1.21$0.17
2014Detailed filing. Detailed filing data is available for this year.$1.81$0.50$1.31$0.85$1.16$0.31
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$1.96$0.34$1.62$0.62$0.34$0.29
2012Summary only. Only limited summary data is available for this year.$2.11$0.77$1.33$0.62$0.19$0.44
2011Summary only. Only limited summary data is available for this year.$0.71$0.04$0.68$0.08$0.02$0.06