Civic Intelligence

Liberty'S Kitchen Inc

990 • Fiscal year 2017 • EIN 26-2254285

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 15, 2018

PO Box 19293New Orleans, LA 70179

(504) 822-4011

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.31x

Higher debt load relative to assets than 63% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

54th percentile

0.20x

Higher debt load relative to revenue than 54% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

74th percentile

16%

Higher net margin than 74% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

46th percentile

$112,769

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

95th percentile

81%

Faster asset growth than 95% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

90th percentile

70%

Faster revenue growth than 90% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Up

$3,381,492

Up $1,308,762 (+63%) from 2015

Net Assets

Up

$2,344,932

Up $743,114 (+46%) from 2015

Liabilities

Up

$1,036,560

Up $565,648 (+120%) from 2015

Revenue

Up

$5,157,436

Up $1,827,823 (+55%) from 2015

Expenses

Up

$4,339,822

Up $1,123,445 (+35%) from 2015

Net Income

Up

$817,614

Up $704,378 (+622%) from 2015

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2013: $627,042Liabilities 2013: $137,477Net Assets 2013: $489,5652013Assets 2015: $2,072,730Liabilities 2015: $470,912Net Assets 2015: $1,601,8182015Assets 2017: $3,381,492Liabilities 2017: $1,036,560Net Assets 2017: $2,344,9322017Assets 2018: $3,143,729Liabilities 2018: $981,081Net Assets 2018: $2,162,6482018Assets 2019: $2,520,805Liabilities 2019: $854,281Net Assets 2019: $1,666,5242019Assets 2020: $3,071,636Liabilities 2020: $1,046,435Net Assets 2020: $2,025,2012020Assets 2021: $3,074,859Liabilities 2021: $890,785Net Assets 2021: $2,184,0742021Assets 2022: $2,904,536Liabilities 2022: $1,376,416Net Assets 2022: $1,528,1202022Assets 2024: $835,000Liabilities 2024: $578,479Net Assets 2024: $256,5212024

Highlighted filing

2017

Assets$3,381,492
Liabilities$1,036,560
Net Assets$2,344,932

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2013: $2,211,883Expenses 2013: $1,852,862Net Income 2013: $359,0212013Revenue 2015: $3,329,613Expenses 2015: $3,216,377Net Income 2015: $113,2362015Revenue 2017: $5,157,436Expenses 2017: $4,339,822Net Income 2017: $817,6142017Revenue 2018: $3,503,131Expenses 2018: $3,815,675Net Income 2018: -$312,5442018Revenue 2019: $2,340,450Expenses 2019: $2,980,657Net Income 2019: -$640,2072019Revenue 2020: $2,820,052Expenses 2020: $2,484,161Net Income 2020: $335,8912020Revenue 2021: $1,610,071Expenses 2021: $1,466,198Net Income 2021: $143,8732021Revenue 2022: $800,356Expenses 2022: $1,449,524Net Income 2022: -$649,1682022Revenue 2024: $1,319,609Expenses 2024: $1,885,562Net Income 2024: -$565,9532024

Highlighted filing

2017

Revenue$5,157,436
Expenses$4,339,822
Net Income$817,614
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 15, 2018
Return Version
2017v2.3
Gross Receipts
$5,222,441
Mission and Program Overview

Mission

Liberty's kitchen is a not-for-profit social enterprise committed to transforming the lives of new orleans youth through foodservice-based training, employment, education and nutrition programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,135,977$1,573,450▲ $437,473
Pledges and Grants Receivable$73,512$1,063,855▲ $990,343
Cash and Non-Interest-Bearing Accounts$500,252$473,823▼ $26,429
Accounts Receivable$97,227$154,489▲ $57,262
Inventories for Sale or Use$39,589$57,791▲ $18,202
Prepaid Expenses and Deferred Charges$18,301$55,813▲ $37,512
Total Assets$1,868,643$3,381,492▲ $1,512,849
Other Assets Total$3,785$2,271▼ $1,514
Liabilities
Other Liabilities$341,574$618,290▲ $276,716
Accounts Payable and Accrued Expenses$209,455$418,270▲ $208,815
Total Liabilities$551,029$1,036,560▲ $485,531
Net Assets / Fund Balance
Temporarily Rstr Net Assets$572,555$1,777,770▲ $1,205,215
Unrestricted Net Assets$745,059$567,162▼ $177,897
Total Net Assets Fund Balance$1,317,614$2,344,932▲ $1,027,318
Total Liabilities and Net Assets / Fund Balance$1,868,643$3,381,492▲ $1,512,849

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,268,271$488,551$1,756,822
Equipment$305,179$208,931$514,110
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David EmondCurrent Executive DirectorFT$111,752$1,017$112,769

Board Members and Trustees

NameTitle
Matthew SchwartzChair
Tiffany HarvillVice Chair
Cleveland SpearsBoard Member
Denise RedmannBoard Member
Ellen FrischhertzBoard Member
Greg BeuermanBoard Member
Hassan HassanBoard Member
Herb AndersonBoard Member
Janet PetersBoard Member
Jennifer WeishauptBoard Member
Kara JohnsonBoard Member
Leonard DavisBoard Member
Stephen HanemannBoard Member
Sylvia Scineaux-richardBoard Member
Tiffany OestreicherBoard Member
Jeffrey GoodSecretary
Scott PowellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,349,440
Program Service Revenue
$1,810,695
Investment Income
$474
Other Revenue
$-3,173
All Other Contributions
$2,780,858
Change in Net Assets
$817,614

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,157,436
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$274,709
Total Revenue per Audited Statements
$5,432,145
Total Revenue per Form 990
$5,157,436
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,276,830
Salaries, Compensation, and Employee Benefits$2,062,992
Total Fundraising Expense$97,527
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,420,899$165,310$74,360$1,660,569
Occupancy$292,870$11,912-$304,782
Depreciation Depletion$150,504$50,087-$200,591
Payroll Taxes$133,438$15,524$6,983$155,945
Other Employee Benefits$115,281$13,412$6,033$134,726
Other Expenses$131,011$819$1,164$132,175
Current Officers, Directors, Trustees, and Key Employees$95,623$11,125$5,004$111,752
All Other Expenses$70,934$12,849$2,079$85,862
Insurance$54,841$9,934$1,608$66,383
Fees for Services Other$52,679$11,585$161$64,425
Fees for Services Accounting$44,153$9,710$135$53,998
Interest$9,844$13,807-$23,651
Office Expenses$2,081$2,918-$4,999
Fees for Services Legal$66$15-$81
Total Functional Expenses$3,913,288$329,007$97,527$4,339,822

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,404,827
Expenses per Audited Statements$4,339,822
Total Expenses per Form 990$4,339,822
Expenses Not Reported on Form 990$65,005
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$65,005
Fundraising Gross Income$22,351
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Come Grow With US$164,925$20,430$65,005$-44,575
Monthly Chef Nights$14,234---
Total Events$181,306$22,351$65,005$-42,654
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Note Payable$368,290
Iberia Lines of Credit$250,000
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
No
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 11B

The finance and executive committees have oversight of both the audit and the 990. Both committees reviewed the audit draft prior to its finalization, and they will review the tax return prior to filing.

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

Annually the board of directors are asked to read and sign the current conflict of interest policy in place.

Form 990, Part VI, Section B, Line 15A

Annually, a compensation committee compares salaries of other non-profit organizations in the greater new orleans area to determine the salary for the executive director.

Form 990, Part VI, Section C, Line 19

AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
LIBERTY'S KITCHEN INC
EIN
26-2254285
Phone
5048224011
Address
PO BOX 19293, NEW ORLEANS, LA 70179

Signing Officer

Name
Dennis Bagneris
Title
Executive Director
Phone
5048224011
Signed
2018-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dennis Bagneris
Formed
2008
Legal Domicile
La
Voting Board Members
17
Independent Board Members
17
Employees
45
Volunteers
46

Preparer

Firm
Bourgeois Bennett LLC
Address
111 VETERANS BLVD 17TH FLOOR, METAIRIE, LA 70005
Preparer
Paul Pechon
Phone
5048314949
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Accounting standards provide detailed guidance for financial statement recognition, measurement, and disclosure of uncertain tax positions recognized in an entity's financial statements. It requires an entity to recognize the financial statement impact of a tax position when it is more likely than not that the position will not be sustained upon examination. Tax years ended december 31, 2014 and later remain subject to examination by the taxing authorities. As of december 31, 2017 management of liberty believes that it has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

SPECIAL EVENTS 65,005.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

SPECIAL EVENTS 65,005.

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