Liabilities / Assets
61st percentile
Higher debt load relative to assets than 61% of similar nonprofits.
Bayou District Foundation
990 • Fiscal year 2012 • EIN 26-0833850
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.34x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
99th percentile
Faster asset growth than 99% of similar nonprofits.
Revenue Growth
Score unavailable
No valid filing value is available for this score.
Balance Sheet
Assets
Up$9,353,506
Up $6,777,245 (+263%) from 2011
Net Assets
Up$6,129,226
Up $3,566,248 (+139%) from 2011
Liabilities
Up$3,224,280
Up $3,210,997 (+24174%) from 2011
Revenue And Expenses
Revenue
-
No earlier filing loaded for comparison.
Expenses
Down$377,802
Down $428,160 (-53%) from 2011
Net Income
-
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2012 to Dec 31, 2012
- Signed
- Nov 15, 2013
- Return Version
- 2012v2.1
- Gross Receipts
- $4,011,554
Mission and Program Overview
Mission
Bayou district foundation's mission is to raise funds to facilitate the reconstruction of the neighborhood and infrastructure of the former st. Bernard housing project damaged by hurricane katrina and to help its residents break their cycle of poverty.
Filing and Contact Details
Filer
- EIN
- 26-0833850
Raw XML AppendixShowing 400 of 445 raw XML fields
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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| IRS990/ActivityOrMissionDescription | 0 | BAYOU DISTRICT FOUNDATION'S MISSION IS TO RAISE FUNDS TO FACILITATE THE RECONSTRUCTION OF THE NEIGHBORHOOD AND INFRASTRUCTURE OF THE FORMER ST. BERNARD HOUSING PROJECT DAMAGED BY HURRICANE KATRINA AND TO HELP ITS RESIDENTS BREAK THEIR CYCLE OF POVERTY. |
| IRS990/AddressPrincipalOfficerUS/AddressLine1 | 0 | 320 JULIA STREET |
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| IRS990/Description | 0 | THE BAYOU DISTRICT FOUNDATION ("BDF") WORKS TO REVITALIZE THE FORMER ST. BERNARD HOUSING PROJECT, THE LOW-INCOME HOUSING THAT WAS DESTROYED BY HURRICANE KATRINA, AND THE SURROUNDING NEIGHBORHOOD. BDF'S MISSION IS TO RAISE FUNDS TO FACILITATE THE RECONSTRUCTION OF THE NEIGHBORHOOD AND ITS INFRASTRUCTURE. IT HAS ENCOURAGED THE CONSTRUCTION OF MIXED-INCOME HOUSING, A HIGH QUALITY SCHOOL, WORKFORCE TRAINING, AND THE REDEVELOPMENT OF RECREATIONAL FACILITIES IN CITY PARK. BY FUNDING THESE PROJECTS BDF HOPES TO REVITALIZE THE COMMUNITY SO THAT RESIDENTS CAN RETURN TO A THRIVING NEIGHBORHOOD AND ENJOY A HIGH QUALITY OF LIFE, WHICH WILL HELP BREAK THEIR CYCLE OF POVERTY. |
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| IRS990/MissionDescription | 0 | BAYOU DISTRICT FOUNDATION'S MISSION IS TO RAISE FUNDS TO FACILITATE THE RECONSTRUCTION OF THE NEIGHBORHOOD AND INFRASTRUCTURE OF THE FORMER ST. BERNARD HOUSING PROJECT DAMAGED BY HURRICANE KATRINA AND TO HELP ITS RESIDENTS BREAK THEIR CYCLE OF POVERTY. |
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| IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation | 0 | THE FOUNDATION FOLLOWS THE PROVISIONS OF THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION. ALL TAX RETURNS HAVE BEEN APPROPRIATELY FILED BY THE FOUNDATION. THE FOUNDATION RECOGNIZES INTEREST AND PENALTIES, IF ANY, RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE. THE FOUNDATION'S TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. TAX YEARS THAT REMAIN OPEN FOR EXAMINATION BY TAX JURISDICTIONS INCLUDE 2009 THROUGH 2011. MANAGEMENT EVALUATED THE FOUNDATION'S TAX POSITIONS AND CONCLUDED THAT THE FOUNDATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. |
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| IRS990ScheduleO/GeneralExplanation/Explanation | 0 | UPON COMPLETION OF THE FORM 990, A COPY IS SENT TO THE BOARD OF DIRECTORS FOR THEIR REVIEW. MEMBERS OF THE BOARD APPROVE THE 990 EITHER VIA A BOARD MEETING OR ELECTRONICALLY. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 1 | BOARD MEETINGS ARE HELD MONTHLY, WITH BDF STAFF PARTICIPATING IN BOARD PRESENTATION. ALL AGREEMENTS AND CONTRACTS ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 2 | BOARD OF DIRECTORS, OFFICERS AND TRUSTEES ARE NOT COMPENSATED. ANY COMPENSATION OF THESE INDIVIDUALS WOULD BE APPROVED BY THE BOARD OF DIRECTORS. KEY EMPLOYEE COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS, WITH COMPENSATION REVIEWED ANNUALLY AT THE BOARD LEVEL. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 3 | THE FOUNDATION INSERTS A LINK ON ITS WEBSITE THAT OPENS THE CURRENT FORM 990. THIS FORM AS WELL AS VARIOUS POLICIES ARE ALSO MADE AVAILABLE TO THE THE GENERAL PUBLIC UPON REQUEST. THE FOUNDATION NOTIFIES THE PUBLIC OF THIS OPTION IN VARIOUS MAILING AND PUBLICATIONS THROUGHOUT THE YEAR. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 4 | CONSULTING: PROGRAM SERVICE EXPENSES 630. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 630. ARCHITECT: PROGRAM SERVICE EXPENSES 38,139. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 38,139. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 5 | THERE HAS BEEN NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS FROM LAST YEAR. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 6 | DURING 2012, THE FOUNDATION WAS A PARTY TO NEW MARKET TAX CREDITS ISSUED FOR THE BENEFIT OF EDUCARE NEW ORLEANS (EDUCARE), A LOUISIANA NONPROFIT CORPORATION, TO FINANCE THE CONSTRUCTION OF AN EARLY EDUCATION FACILITY FOR EDUCARE. AS PART OF THE TRANSACTION, THE FOUNDATION ADVANCED FUNDS THROUGH A LEVERAGE LOAN TOTALING $7,031,000 TO COCRF INVESTOR XI, LLC, THE INVESTOR FUND. THE LOAN HAS A CURRENT RATE OF 4.4% PER ANNUM AND COLLATERALIZED BY A SECURITY INTEREST IN COCRF INVESTOR XI, LLC'S DEPOSIT ACCOUNT WITH CAPITAL ONE, NATIONAL ASSOCIATION. THE LOAN MATURES ON JULY 24, 2019, AT WHICH POINT ALL PRINCIPAL IS DUE. THE FOUNDATION OBTAINED A BRIDGE LOAN AS PARTIAL FUNDING FOR THE ADVANCES TO COCRF INVESTOR XI, LLC. ON JULY 24, 2012, THE FOUNDATION ENTERED INTO A LOAN AGREEMENT WITH CAPITAL ONE, NATIONAL ASSOCIATION AS PART OF THE NEW MARKET TAX CREDIT AGREEMENT FOR THE FUNDING OF A BUILDING FOR EDUCARE. THE ORIGINAL AMOUNT OF THE LOAN WAS $3,564,228. THE PROCEEDS WERE USED TO FUND THE INVESTMENT FUND LEVERAGE LOAN. THE INTEREST RATE ON THE LOAN IS 2.25% PER ANNUM. THE LOAN IS SECURED BY PLEDGES AND CONTRIBUTIONS RECEIVED BY THE FOUNDATION FOR THE CONSTRUCTION OF THE EARLY EDUCATION FACILITY. THE LOAN IS INTEREST-ONLY PAYABLE MONTHLY IN ARREARS. THE NOTE MATURES ON JULY 24, 2014, AT WHICH POINT THE ENTIRE PRINCIPAL BALANCE AND ANY ACCRUED INTEREST IS DUE IN FULL. PAYMENT OF PRINCIPAL IS ALLOWED PRIOR TO THE MATURITY DATE. AS OF DECEMBER 31, 2012, THE OUTSTANDING BALANCE ON THE LOAN WAS $2,916,986. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 7 | (B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: ON THE BOARD OF DIRECTORS OF BAYOU DISTRICT FOUNDATION AND CEO AND CHAIRMAN OF CRESCENT BANK & TRUST (D) DESCRIPTION OF TRANSACTION: BANK, A PUBLICLY TRADED FINANCIAL INSTITUTION. BAYOU DISTRICT FOUNDATION UTILIZES THE BANKING SERVICES PROVIDED BY CRESCENT BANK & TRUST. MR. SOLOMON IS NOT COMPENSATED BY BAYOU DISTRICT FOUNDATION AND THIS ARRANGEMENT HAS BEEN APPROVED BY THE BOARD OF BAYOU DISTRICT FOUNDATION. THE SERVICES PROVIDED AND FEES CHARGED BY CRESCENT BANK & TRUST ARE COMPARABLE TO SERVICES AND FEES AVAILABLE FROM OTHER LOCAL FINANCIAL INSTITUTIONS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 8 | (B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: ON THE BOARD OF DIRECTORS OF BAYOU DISTRICT FOUNDATION AND A DIRECTOR AT BDF HOUSING, INC. (D) DESCRIPTION OF TRANSACTION: BAYOU DISTRICT FOUNDATION OBTAINED A LOAN FROM BDF HOUSING, INC. MR. BAROUSSE IS NOT COMPENSATED BY BAYOU DISTRICT FOUNDATION AND THIS ARRANGEMENT HAS BEEN APPROVED BY THE BOARD OF BAYOU DISTRICT FOUNDATION. THE SERVICES PROVIDED AND FEES CHARGED BY BDF HOUSING, INC. ARE COMPARABLE TO SERVICES AND FEES AVAILABLE FROM OTHER LOCAL REAL ESTATE COMPANIES. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 9 | A WHISTLEBLOWER POLICY WAS NOT ADOPTED IN 2012; HOWEVER, THE POLICY WILL BE IMPLEMENTED IN 2013. |
| IRS990ScheduleO/GeneralExplanation/Identifier | 0 | OTHER FEES |
| IRS990ScheduleO/GeneralExplanation/Identifier | 1 | (A) NAME OF PERSON: GARY SOLOMON |
| IRS990ScheduleO/GeneralExplanation/Identifier | 2 | (A) NAME OF PERSON: GERRY BAROUSSE |
| IRS990ScheduleO/GeneralExplanation/Identifier | 3 | WHISTLEBLOWER POLICY |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 0 | FORM 990, PART VI, SECTION B, LINE 11 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 1 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 2 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 3 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 4 | FORM 990, PART IX, LINE 11G |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 5 | FORM 990, PART XI, LINE 2C: |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 6 | FORM 990, SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSON |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 7 | FORM 990, SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSON |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 8 | FORM 990, PART VI, SECTION B, LINE 13: |
| IRS990/ScheduleORequired | 0 | 1 |
| IRS990/School | 0 | 0 |
| IRS990/SignificantChange | 0 | 0 |
| IRS990/SignificantNewProgramServices | 0 | 0 |
| IRS990/StateLegalDomicile | 0 | LA |
| IRS990/SubjectToProxyTax | 0 | 0 |
| IRS990/TaxablePartyNotification | 0 | 0 |
| IRS990/TaxExemptBonds | 0 | 0 |
| IRS990/TemporarilyRestrictedNetAssets/BOY | 0 | 1960131 |
| IRS990/TemporarilyRestrictedNetAssets/EOY | 0 | 1839099 |
| IRS990/Terminated | 0 | 0 |
| IRS990/TermOrPermanentEndowments | 0 | 0 |
| IRS990/TheBooksAreInCareOf/AddressUS/AddressLine1 | 0 | 320 JULIA STREET |
| IRS990/TheBooksAreInCareOf/AddressUS/City | 0 | NEW ORLEANS |
| IRS990/TheBooksAreInCareOf/AddressUS/State | 0 | LA |
| IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode | 0 | 70130 |
| IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine1 | 0 | GERARD BAROUSSE |
| IRS990/TheBooksAreInCareOf/TelephoneNumber | 0 | 5045231701 |
| IRS990/TotalAssets/BOY | 0 | 2576261 |
| IRS990/TotalAssetsBOY | 0 | 2576261 |
| IRS990/TotalAssets/EOY | 0 | 9353506 |
| IRS990/TotalAssetsEOY | 0 | 9353506 |
| IRS990/TotalCompGT150K | 0 | 0 |
| IRS990/TotalContributions | 0 | 3901385 |
| IRS990/TotalExpensesCurrentYear | 0 | 377802 |
| IRS990/TotalExpensesPriorYear | 0 | 805962 |
| IRS990/TotalFunctionalExpenses/Fundraising | 0 | 28720 |
| IRS990/TotalFunctionalExpenses/ManagementAndGeneral | 0 | 32172 |
| IRS990/TotalFunctionalExpenses/ProgramServices | 0 | 316910 |
| IRS990/TotalFunctionalExpenses/Total | 0 | 377802 |
| IRS990/TotalFundrsngExpCurrentYear | 0 | 28720 |
| IRS990/TotalGrossUBI | 0 | 0 |
| IRS990/TotalLiabilities/BOY | 0 | 13283 |
| IRS990/TotalLiabilitiesBOY | 0 | 13283 |
| IRS990/TotalLiabilities/EOY | 0 | 3224280 |
| IRS990/TotalLiabilitiesEOY | 0 | 3224280 |
| IRS990/TotalLiabNetAssetsFundBalances/BOY | 0 | 2576261 |
| IRS990/TotalLiabNetAssetsFundBalances/EOY | 0 | 9353506 |
| IRS990/TotalNbrEmployees | 0 | 3 |
| IRS990/TotalNbrVolunteers | 0 | 25 |
| IRS990/TotalNetAssetsFundBalances/BOY | 0 | 2562978 |
| IRS990/TotalNetAssetsFundBalances/EOY | 0 | 6129226 |
| IRS990/TotalOtherCompensation | 0 | 0 |
| IRS990/TotalProfFundrsngExpCY | 0 | 0 |
| IRS990/TotalProfFundrsngExpPriorYear | 0 | 0 |
| IRS990/TotalProgramServiceExpense | 0 | 316910 |
| IRS990/TotalReportableCompFrmRltdOrgs | 0 | 0 |
| IRS990/TotalReportableCompFromOrg | 0 | 0 |
| IRS990/TotalRevenueCurrentYear | 0 | 3944050 |
Document Assets
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Filings
Displayed year
2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $9,353,506
- Liabilities
- $3,224,280
- Net assets
- $6,129,226
- Revenue
- -
- Expenses
- $377,802
- Net income
- -