Civic Intelligence

Bayou District Foundation

990 • Fiscal year 2015 • EIN 26-0833850

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 04, 2016

Organization ProfileWWW.BAYOUDISTRICTFOUNDATION.ORG
320 Julia StreetNew Orleans, LA 70130

(504) 523-1701

Siviq Scores

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

Liabilities / Assets

41st percentile

0.15x

Higher debt load relative to assets than 41% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

81st percentile

1.18x

Higher debt load relative to revenue than 81% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

82nd percentile

25%

Higher net margin than 82% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

86th percentile

20%

Faster asset growth than 86% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

8th percentile

-34%

Faster revenue growth than 8% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets41st percentile

Assets

Up

$14,447,926

Up $2,383,168 (+20%) from 2014

Net Assets

Up

$12,253,476

Up $463,811 (+3.9%) from 2014

Liabilities

Up

$2,194,450

Up $1,919,357 (+698%) from 2014

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin82nd percentile

Revenue

Down

$1,862,565

Down $967,327 (-34%) from 2014

Expenses

Down

$1,397,854

Down $55,345 (-3.8%) from 2014

Net Income

Down

$464,711

Down $911,982 (-66%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2010: $1,637,664Liabilities 2010: $20,944Net Assets 2010: $1,616,7202010Assets 2011: $2,576,261Liabilities 2011: $13,283Net Assets 2011: $2,562,9782011Assets 2012: $9,353,506Liabilities 2012: $3,224,280Net Assets 2012: $6,129,2262012Assets 2013: $11,444,041Liabilities 2013: $1,031,069Net Assets 2013: $10,412,9722013Assets 2014: $12,064,758Liabilities 2014: $275,093Net Assets 2014: $11,789,6652014Assets 2015: $14,447,926Liabilities 2015: $2,194,450Net Assets 2015: $12,253,4762015Assets 2016: $12,403,726Liabilities 2016: $3,052,466Net Assets 2016: $9,351,2602016Assets 2017: $10,884,508Liabilities 2017: $6,362,116Net Assets 2017: $4,522,3922017Assets 2018: $10,589,184Liabilities 2018: $6,097,904Net Assets 2018: $4,491,2802018Assets 2019: $2,485,939Liabilities 2019: $5,495,070Net Assets 2019: -$3,009,1312019Assets 2020: $2,521,451Liabilities 2020: $5,547,717Net Assets 2020: -$3,026,2662020Assets 2021: $2,075,399Liabilities 2021: $4,918,132Net Assets 2021: -$2,842,7332021Assets 2022: $2,633,589Liabilities 2022: $4,981,927Net Assets 2022: -$2,348,3382022Assets 2023: $1,866,130Liabilities 2023: $4,194,528Net Assets 2023: -$2,328,3982023Assets 2024: $1,707,437Liabilities 2024: $3,790,542Net Assets 2024: -$2,083,1052024

Highlighted filing

2015

Assets$14,447,926
Liabilities$2,194,450
Net Assets$12,253,476
Open 2015 Filing

Operations Trend

Revenue Growth8th percentile

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

$10M$5.0M$0-$5.0M-$10MExpenses 2010: $366,8412010Expenses 2011: $805,9622011Expenses 2012: $377,8022012Revenue 2013: $5,127,117Expenses 2013: $840,964Net Income 2013: $4,286,1532013Revenue 2014: $2,829,892Expenses 2014: $1,453,199Net Income 2014: $1,376,6932014Revenue 2015: $1,862,565Expenses 2015: $1,397,854Net Income 2015: $464,7112015Revenue 2016: $975,040Expenses 2016: $3,879,475Net Income 2016: -$2,904,4352016Revenue 2017: $4,161,335Expenses 2017: $8,999,597Net Income 2017: -$4,838,2622017Revenue 2018: $3,585,891Expenses 2018: $3,609,957Net Income 2018: -$24,0662018Revenue 2019: $2,679,434Expenses 2019: $9,511,458Net Income 2019: -$6,832,0242019Revenue 2020: $2,484,741Expenses 2020: $2,532,689Net Income 2020: -$47,9482020Revenue 2021: $2,965,153Expenses 2021: $2,800,208Net Income 2021: $164,9452021Revenue 2022: $2,666,706Expenses 2022: $2,199,758Net Income 2022: $466,9482022Revenue 2023: $2,526,161Expenses 2023: $2,542,537Net Income 2023: -$16,3762023Revenue 2024: $2,776,631Expenses 2024: $2,543,225Net Income 2024: $233,4062024

Highlighted filing

2015

Revenue$1,862,565
Expenses$1,397,854
Net Income$464,711
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 4, 2016
Return Version
2015v2.1
Gross Receipts
$2,006,476
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,836,479$5,172,815▲ $2,336,336
Pledges and Grants Receivable$1,894,595$2,022,376▲ $127,781
Inventories for Sale or Use$252,681$145,703▼ $106,978
Investments Program Related$24,988$49,889▲ $24,901
Accounts Receivable$10,000$13,221▲ $3,221
Investments in Publicly Traded Securities$8,403$7,846▼ $557
Land, Buildings, and Equipment, Net$5,455$3,919▼ $1,536
Prepaid Expenses and Deferred Charges$1,157$1,157→ $0
Total Assets$12,064,758$14,447,926▲ $2,383,168
Other Assets Total$7,031,000$7,031,000→ $0
Liabilities
Unsecured Notes Loans Payable-$1,977,700-
Accounts Payable and Accrued Expenses$25,093$116,750▲ $91,657
Other Liabilities$250,000$100,000▼ $150,000
Total Liabilities$275,093$2,194,450▲ $1,919,357
Net Assets / Fund Balance
Unrestricted Net Assets$8,726,893$8,791,980▲ $65,087
Temporarily Rstr Net Assets$2,987,772$3,386,496▲ $398,724
Permanently Rstr Net Assets$75,000$75,000→ $0
Total Net Assets Fund Balance$11,789,665$12,253,476▲ $463,811
Total Liabilities and Net Assets / Fund Balance$12,064,758$14,447,926▲ $2,383,168

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,919$10,425$14,344
Other Assets Org$7,031,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$24,988$25,000▲ $146-$49,889
2014-$25,000▲ $63-$24,988
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Gerard W Barousse JrChairman
Brian CheramieDirector
Gary SolomonDirector
Mike RodrigueDirector
Nolan Marshall JrDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,735,010
Program Service Revenue
$0
Investment Income
$99,319
Other Revenue
$28,236
All Other Contributions
$1,692,832
Change in Net Assets
$464,711

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,862,565
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$27,936
Total Revenue per Audited Statements
$1,890,501
Total Revenue per Form 990
$1,862,565
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$811,109
Other Expenses$311,920
Salaries, Compensation, and Employee Benefits$273,089
Total Fundraising Expense$79,681
Professional Fundraising Fees$1,736

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$811,109--$811,109
Other Salaries and Wages$135,674$35,289$64,295$235,258
Fees for Services Other$53,687--$53,687
Advertising$42,400$5,300$5,300$53,000
Other Employee Benefits$14,762$2,952$1,968$19,682
Fees for Services Legal$19,608--$19,608
Payroll Taxes$13,612$2,722$1,815$18,149
Fees for Services Accounting$14,000--$14,000
Travel$6,082-$2,028$8,110
All Other Expenses$4,942$322$551$5,815
Office Expenses$3,755$578$647$4,980
Other Expenses$3,114-$28$3,142
Occupancy$2,258$117$67$2,442
Fees for Services Professional Fundraising--$1,736$1,736
Depreciation Depletion$1,536--$1,536
Insurance$881$176$118$1,175
Fees for Service Investment Mgmnt Fees$289--$289
Total Functional Expenses$1,270,717$47,456$79,681$1,397,854

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,426,690
Total Expenses per Form 990$1,397,854
Expenses per Audited Statements$1,397,565
Expenses Not Reported on Form 990$29,125
Expenses Not Reported on Financial Statements$289
Other Expense Adjustments$289
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
EducareNew Orleans, LA501(c)(3)Funds for Operating Expenses$811,109
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$1,736
Fundraising Direct Expenses$83
Fundraising Gross Income$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament (holes for History)$42,178---
Total Events$42,178-$83$-83
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Gary SolomonOn the Board of Directors of Bayou District Foundation and CEO and ChairmanBank, 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.No$100,000
Gerry BarousseOn the Board of Bayou District and a Director at Bdf Housing, Inc.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. ORIGINAL LOAN AMOUNT WAS $250,000. AS OF 12/31/15, THE LOAN BALANCE IS $100,000.No-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Party$100,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“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.”

Form 990, Part VI, Section B, Line 12C

“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.”

Form 990, Part VI, Section B, Line 15

“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.”

Form 990, Part VI, Section C, Line 19

“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.”

Filing and Contact Details

Filer

Filer Name
Bayou District Foundation
EIN
26-0833850
Phone
5045231701
Address
320 JULIA STREET, NEW ORLEANS, LA 70130

Signing Officer

Name
Gerard W Barousse
Title
Director
Phone
5045231701
Signed
2016-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gerard W Barousse
Formed
2007
Legal Domicile
La
Voting Board Members
5
Independent Board Members
5
Employees
3
Volunteers
75

Preparer

Firm
Laporte Apac
Address
111 VETERANS MEMORIAL BLVD 600, METAIRIE, LA 70005-4958
Preparer
Terri a Troyer CPA
Phone
5048355522
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 2C:

“There has been no change in the oversight process or selection process from last year.”

New Market Tax Credits

“During 2012, the foundation was a party to new market tax credits totaling $8,900,000 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.”

Financial Statement Notes

PART V, LINE 4:

“Annual distributions of income from the fund, as determined by the board of trustees of the greater new orleans foundation (gnof) are provided to the foundation for use in the general operations. Spending policies - the foundation receives distributions from the gnof fund and decides whether to reinvest the distribution or to use for operations. Investment policies - the foundation's fund is maintained and managed by the gnof within their investment pool. The fund is invested by gnof with an attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of these endowment assets over the long-term.”

PART X, LINE 2:

“Accounting principles generally accepted in the united states of america provide accounting and disclosure guidance about positions taken by an entity in its tax returns that might be uncertain. The foundation believes that it has appropriate support for any tax positions taken, and management has determined that there are no uncertain tax positions that are material to the financial statements. Penalties and interest assessed by income taxing authorities, if any, would be included in income tax expense.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising investment administrative fees”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“FUNDRAISING”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Investment administrative fees”

Raw XML AppendixShowing 400 of 489 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/ActivityOrMissionDesc0BAYOU 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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IRS990/Desc0THE 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/InvestmentsProgramRelatedGrp/BOYAmt024988
IRS990/InvestmentsProgramRelatedGrp/EOYAmt049889
IRS990/InvestmentsPubTradedSecGrp/BOYAmt08403
IRS990/InvestmentsPubTradedSecGrp/EOYAmt07846
IRS990/IRPDocumentCnt01
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt010425
IRS990/LandBldgEquipBasisNetGrp/BOYAmt05455
IRS990/LandBldgEquipBasisNetGrp/EOYAmt03919
IRS990/LandBldgEquipCostOrOtherBssAmt014344
IRS990/LegalDomicileStateCd0LA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0BAYOU 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/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt011789665
IRS990/NetAssetsOrFundBalancesEOYAmt012253476
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0-83
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0-83
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt028319
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt028319
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-900
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt067
IRS990/OccupancyGrp/ManagementAndGeneralAmt0117
IRS990/OccupancyGrp/ProgramServicesAmt02258
IRS990/OccupancyGrp/TotalAmt02442
IRS990/OfficeExpensesGrp/FundraisingAmt0647
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0578
IRS990/OfficeExpensesGrp/ProgramServicesAmt03755
IRS990/OfficeExpensesGrp/TotalAmt04980
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt07031000
IRS990/OtherAssetsTotalGrp/EOYAmt07031000
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt01968
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt02952
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt014762
IRS990/OtherEmployeeBenefitsGrp/TotalAmt019682
IRS990/OtherExpensesGrp/Desc0CITY PARK GOLF COURSE
IRS990/OtherExpensesGrp/Desc1KIPP BELIEVE CHARTER SC
IRS990/OtherExpensesGrp/Desc2WEBSITE
IRS990/OtherExpensesGrp/Desc3PROPERTY REPAIRS, MAINT
IRS990/OtherExpensesGrp/FundraisingAmt01128
IRS990/OtherExpensesGrp/FundraisingAmt128
IRS990/OtherExpensesGrp/ProgramServicesAmt0119625
IRS990/OtherExpensesGrp/ProgramServicesAmt120000
IRS990/OtherExpensesGrp/ProgramServicesAmt23383
IRS990/OtherExpensesGrp/ProgramServicesAmt33114
IRS990/OtherExpensesGrp/TotalAmt0119625
IRS990/OtherExpensesGrp/TotalAmt120000
IRS990/OtherExpensesGrp/TotalAmt24511
IRS990/OtherExpensesGrp/TotalAmt33142
IRS990/OtherLiabilitiesGrp/BOYAmt0250000
IRS990/OtherLiabilitiesGrp/EOYAmt0100000
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt064295
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt035289
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0135674
IRS990/OtherSalariesAndWagesGrp/TotalAmt0235258
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01815
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02722
IRS990/PayrollTaxesGrp/ProgramServicesAmt013612
IRS990/PayrollTaxesGrp/TotalAmt018149
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt075000
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt075000
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01894595
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt02022376
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01157
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01157
IRS990/PrincipalOfficerNm0GERARD W BAROUSSE
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02735672
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0722316
IRS990/PYInvestmentIncomeAmt097101
IRS990/PYOtherExpensesAmt0479664
IRS990/PYOtherRevenueAmt0-2881
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt01376693
IRS990/PYSalariesCompEmpBnftPaidAmt0251163
IRS990/PYTotalExpensesAmt01453199
IRS990/PYTotalProfFndrsngExpnsAmt056
IRS990/PYTotalRevenueAmt02829892
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0464711
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01735010
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt02735672
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt04991734
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt03901385
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01977287
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt015341088
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt099319
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt097101
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0144744
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt036429
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt04420
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0382013
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0588052
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.74360
IRS990ScheduleA/PublicSupportPY170Pct00.76610
IRS990ScheduleA/PublicSupportTotal170Amt011691349
IRS990ScheduleA/SubstantialContributorsTotAmt03649739
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01735010
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt02735672
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt04991734
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt03901385
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01977287
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt015341088
IRS990ScheduleA/TotalSupportAmt015723101
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt0245
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt024988
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt025000
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt049889
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0146
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt075
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt025000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt024988
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt063
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt029042
IRS990ScheduleD/DonatedServicesUseFcltsAmt029042
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt03919
IRS990ScheduleD/EquipmentGrp/DepreciationAmt010425
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt014344
IRS990ScheduleD/ExpensesNotReportedAmt029125
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0289
IRS990ScheduleD/ExpensesSubtotalAmt01397565
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-900
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt07031000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM COCRF - INVESTOR XI, LLC
IRS990ScheduleD/OtherExpensesIncludedAmt083
IRS990ScheduleD/OtherExpensesNotIncludedAmt0289
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0100000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTY
IRS990ScheduleD/OtherRevenueAmt0-206
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/RevenueNotReportedAmt027936
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01862565
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ANNUAL DISTRIBUTIONS OF INCOME FROM THE FUND, AS DETERMINED BY THE BOARD OF TRUSTEES OF THE GREATER NEW ORLEANS FOUNDATION (GNOF) ARE PROVIDED TO THE FOUNDATION FOR USE IN THE GENERAL OPERATIONS. SPENDING POLICIES - THE FOUNDATION RECEIVES DISTRIBUTIONS FROM THE GNOF FUND AND DECIDES WHETHER TO REINVEST THE DISTRIBUTION OR TO USE FOR OPERATIONS. INVESTMENT POLICIES - THE FOUNDATION'S FUND IS MAINTAINED AND MANAGED BY THE GNOF WITHIN THEIR INVESTMENT POOL. THE FUND IS INVESTED BY GNOF WITH AN ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THESE ENDOWMENT ASSETS OVER THE LONG-TERM.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE ACCOUNTING AND DISCLOSURE GUIDANCE ABOUT POSITIONS TAKEN BY AN ENTITY IN ITS TAX RETURNS THAT MIGHT BE UNCERTAIN. THE FOUNDATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND MANAGEMENT HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PENALTIES AND INTEREST ASSESSED BY INCOME TAXING AUTHORITIES, IF ANY, WOULD BE INCLUDED IN INCOME TAX EXPENSE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING INVESTMENT ADMINISTRATIVE FEES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3FUNDRAISING
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4INVESTMENT ADMINISTRATIVE FEES
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03919
IRS990ScheduleD/TotalBookValueOtherAssetsAmt07031000
IRS990ScheduleD/TotalExpensesPerForm990Amt01397854
IRS990ScheduleD/TotalLiabilityAmt0100000
IRS990ScheduleD/TotalRevenuePerForm990Amt01862565
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01890501
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01426690
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt042178
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt042178
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt083
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF TOURNAMENT (HOLES FOR HISTORY)
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt083
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt083
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt042178
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt042178
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-83
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0811109
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0FUNDS FOR OPERATING EXPENSES
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0EDUCARE
IRS990ScheduleI/RecipientTable/RecipientEIN0453788164
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt03801 ST BERNARD AVENUE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0NEW ORLEANS
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0LA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd070122
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0FUNDS ARE PROVIDED VIA GRANT FUNDS, WHICH ARE RESTRICTED. THESE FUNDS ARE SEPARATELY ACCOUNTED FOR WITHIN BAYOU DISTRICT FOUNDATION'S DEDICATED FUNDS ACCOUNT OR WITHIN THE EDUCATION ACCOUNT, REAL ESTATE ACCOUNT, OR GOLF ACCOUNT. ADDITIONALLY, THE FUNDS PROVIDED FOR EDUCARE ARE DEPOSITED INTO A SEPARATE ACCOUNT AT CAPITAL ONE FOR EDUCARE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0GARY SOLOMON
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1GERRY BAROUSSE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0ON THE BOARD OF DIRECTORS OF BAYOU DISTRICT FOUNDATION AND CEO AND CHAIRMAN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1ON THE BOARD OF BAYOU DISTRICT AND A DIRECTOR AT BDF HOUSING, INC.
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd10
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0100000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0BANK, 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.
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1BAYOU 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. ORIGINAL LOAN AMOUNT WAS $250,000. AS OF 12/31/15, THE LOAN BALANCE IS $100,000.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0UPON 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/SupplementalInformationDetail/ExplanationTxt1BOARD 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/SupplementalInformationDetail/ExplanationTxt2BOARD 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/SupplementalInformationDetail/ExplanationTxt3THE 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/SupplementalInformationDetail/ExplanationTxt4THERE HAS BEEN NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS FROM LAST YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DURING 2012, THE FOUNDATION WAS A PARTY TO NEW MARKET TAX CREDITS TOTALING $8,900,000 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.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,447,926
Liabilities
$2,194,450
Net assets
$12,253,476
Revenue
$1,862,565
Expenses
$1,397,854
Net income
$464,711
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.71$3.79$2.08$2.78$2.54$0.23
2023Detailed filing. Detailed filing data is available for this year.$1.87$4.19$2.33$2.53$2.54$0.02
2022Detailed filing. Detailed filing data is available for this year.$2.63$4.98$2.35$2.67$2.20$0.47
2021Detailed filing. Detailed filing data is available for this year.$2.08$4.92$2.84$2.97$2.80$0.16
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.52$5.55$3.03$2.48$2.53$0.05
2019Detailed filing. Detailed filing data is available for this year.$2.49$5.50$3.01$2.68$9.51$6.83
2018Detailed filing. Detailed filing data is available for this year.$10.6$6.10$4.49$3.59$3.61$0.02
2017Detailed filing. Detailed filing data is available for this year.$10.9$6.36$4.52$4.16$9.00$4.84
2016Detailed filing. Detailed filing data is available for this year.$12.4$3.05$9.35$0.98$3.88$2.90
2015Detailed filing. Detailed filing data is available for this year.$14.4$2.19$12.3$1.86$1.40$0.46
2014Detailed filing. Detailed filing data is available for this year.$12.1$0.28$11.8$2.83$1.45$1.38
2013Detailed filing. Detailed filing data is available for this year.$11.4$1.03$10.4$5.13$0.84$4.29
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.35$3.22$6.13$0.38
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.58$0.01$2.56$0.81
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.64$0.02$1.62$0.37