Civic Intelligence

Labi Foundation

990 • Fiscal year 2017 • EIN 46-4858854

Jan 01, 2017 to Dec 31, 2017 • Filed on Jul 05, 2018

Organization ProfileN/A
PO Box 80258Baton Rouge, LA 70898

(225) 928-5370

Siviq Scores

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

Liabilities / Assets

90th percentile

0.56x

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

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

74th percentile

0.04x

Higher debt load relative to revenue than 74% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

6th percentile

-70%

Higher net margin than 6% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

3rd percentile

-91%

Faster asset growth than 3% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

4th percentile

-78%

Faster revenue growth than 4% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$11,131

Down $108,535 (-91%) from 2016

Net Assets

Down

$4,864

Down $114,802 (-96%) from 2016

Liabilities

Up

$6,267

Up $6,267 from 2016

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin6th percentile

Revenue

Down

$165,000

Down $591,449 (-78%) from 2016

Expenses

Down

$279,802

Down $356,981 (-56%) from 2016

Net Income

Down

-$114,802

Down $234,468 (-196%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$200K$150K$100K$50K$0Assets 2016: $119,666Liabilities 2016: $0Net Assets 2016: $119,6662016Assets 2017: $11,131Liabilities 2017: $6,267Net Assets 2017: $4,8642017Assets 2018: $1,499Liabilities 2018: $0Net Assets 2018: $1,4992018Assets 2019: $54,924Liabilities 2019: $0Net Assets 2019: $54,9242019Assets 2020: $1,760Liabilities 2020: $0Net Assets 2020: $1,7602020Assets 2021: $152,967Liabilities 2021: $0Net Assets 2021: $152,9672021Assets 2022: $76,238Liabilities 2022: $0Net Assets 2022: $76,2382022Assets 2023: $46,624Liabilities 2023: $0Net Assets 2023: $46,6242023Assets 2024: $40,073Liabilities 2024: $0Net Assets 2024: $40,0732024

Highlighted filing

2017

Assets$11,131
Liabilities$6,267
Net Assets$4,864
Open 2017 Filing

Operations Trend

Revenue Growth4th percentile

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

$1.0M$500K$0-$500KRevenue 2016: $756,449Expenses 2016: $636,783Net Income 2016: $119,6662016Revenue 2017: $165,000Expenses 2017: $279,802Net Income 2017: -$114,8022017Revenue 2018: $475Expenses 2018: $3,840Net Income 2018: -$3,3652018Revenue 2019: $58,000Expenses 2019: $4,575Net Income 2019: $53,4252019Revenue 2020: $693,092Expenses 2020: $746,256Net Income 2020: -$53,1642020Revenue 2021: $222,409Expenses 2021: $71,202Net Income 2021: $151,2072021Revenue 2022: $383,943Expenses 2022: $460,672Net Income 2022: -$76,7292022Revenue 2023: $475,000Expenses 2023: $504,614Net Income 2023: -$29,6142023Revenue 2024: $159,600Expenses 2024: $166,151Net Income 2024: -$6,5512024

Highlighted filing

2017

Revenue$165,000
Expenses$279,802
Net Income-$114,802
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jul 5, 2018
Return Version
2017v2.2
Gross Receipts
$165,000
Mission and Program Overview

Mission

To partner with business leaders to educate and help deliver successful strategies to maximize Louisiana's economic potential by offering educational materials and programs on areas of importance in Louisiana.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$119,666$11,131▼ $108,535
Total Assets$119,666$11,131▼ $108,535
Liabilities
Accounts Payable and Accrued Expenses-$6,267-
Total Liabilities$0$6,267▲ $6,267
Net Assets / Fund Balance
Temporarily Rstr Net Assets$111,810$0▼ $111,810
Unrestricted Net Assets$7,856$4,864▼ $2,992
Total Net Assets Fund Balance$119,666$4,864▼ $114,802
Total Liabilities and Net Assets / Fund Balance$119,666$11,131▼ $108,535
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Maura DonahuePresident
Reldon OwensVice President
Christopher KinseyDirector
Clay AllenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$165,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$165,000
Change in Net Assets
$-114,802

Audited Revenue Reconciliation

Revenue per Audited Statements
$165,000
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$165,000
Total Revenue per Form 990
$165,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$267,500
Other Expenses$12,302
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$267,500--$267,500
Conferences and Meetings$7,282--$7,282
Fees for Services Accounting$5,000--$5,000
Other Expenses-$20-$20
Total Functional Expenses$279,782$20$0$279,802

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$279,802
Total Expenses per Form 990$279,802
Total Expenses per Audited Statements$279,801
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$-1
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
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
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“LABI Foundation delegated management duties to the staff of Louisiana Association of Business and Industry.”

Form 990, Part VI, Section B, line 11B

“A copy of the Form 990 was provided to the organization's governing body before being filed.”

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

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of the committees with governing board delegated powers considering the proposed transaction or arrangement.”

Form 990, Part VI, Section C, line 18

“LABI Foundation makes its Forms 1023 and 990 available for public inspection upon request.”

Form 990, Part VI, Section C, line 19

“LABI Foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
LABI Foundation
EIN
46-4858854
Phone
2259285370
Address
PO BOX 80258, Baton Rouge, LA 70898

Signing Officer

Name
Maura Donahue
Title
President
Phone
2259285370
Signed
2018-07-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Maura Donahue
Formed
2014
Legal Domicile
La
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Hawthorn Waymouth & Carroll LLP
Address
8545 United Plaza Blvd - No 200, Baton Rouge, LA 70809-9982
Preparer
Charles R Pevey
Phone
2259233000
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 1:

“The organization prepares its financial statements using the modified cash basis method of accounting. Revenue is recognized when cash is received and expenses are incurred when cash is disbursed.”

Form 990, Part XII, Line 2C:

“The oversight and selection process used to select the independent accountant did not change from the previous year.”

Financial Statement Notes

Part X, Line 2:

“LABI Foundation has been recognized by the Internal Revenue Service as exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Management has determined that there are no uncertain tax positions that would require recognition in the financial statements. If LABI Foundation was to incur an income tax liability in the future, interest on any income tax liability would be reported as interest expense, and penalties on any income tax would be reported as income taxes. Management's conclusions regarding uncertain tax positions may be subject to review and adjustment at a later date based on ongoing analysis of tax laws, regulations, and interpretations thereof as well as other factors.”

Part XII, Line 2D - Other Adjustments:

“Rounding”

Raw XML Appendix349 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/Form990PartVIISectionAGrp/TitleTxt2Treasurer
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IRS990/Form990ProvidedToGvrnBodyInd01
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IRS990/ProgSrvcAccomActy2Grp/Desc0- Sponsoring and working with other nonprofits to develop and co-sponsor products and events, such as policy-specific summits, to educate the citizens on policy issues impacting the state. The criminal justice reform summit was a conference to discuss issues surrounding the criminal justice system in Louisiana.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LABI Foundation has been recognized by the Internal Revenue Service as exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Management has determined that there are no uncertain tax positions that would require recognition in the financial statements. If LABI Foundation was to incur an income tax liability in the future, interest on any income tax liability would be reported as interest expense, and penalties on any income tax would be reported as income taxes. Management's conclusions regarding uncertain tax positions may be subject to review and adjustment at a later date based on ongoing analysis of tax laws, regulations, and interpretations thereof as well as other factors.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Rounding
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 2d - Other Adjustments:
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0As a response to the August 2016 floods in Baton Rouge, LA, LABI Foundation provided small businesses with flood relief grants to aid in the recovery effort. Businesses would donate funds to LABI Foundation, who in turn would disburse a controlled amount of funds to affected businesses, determined through an application process. An independent review panel reviewed all applicants and determined award amounts, ranging between $2,500 and $10,000. LABI Foundation performed all due diligence to ensure that each applicant receiving grant funds was affected by the floods.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LABI Foundation delegated management duties to the staff of Louisiana Association of Business and Industry.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A copy of the Form 990 was provided to the organization's governing body before being filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of the committees with governing board delegated powers considering the proposed transaction or arrangement.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3LABI Foundation makes its Forms 1023 and 990 available for public inspection upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4LABI Foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The organization prepares its financial statements using the modified cash basis method of accounting. Revenue is recognized when cash is received and expenses are incurred when cash is disbursed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The oversight and selection process used to select the independent accountant did not change from the previous year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XII, Line 1:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XII, Line 2c:
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt020
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0279782
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ReturnHeader/FilingSecurityInformation/IPTm016:19:59
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0720464428
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Hawthorn Waymouth & Carroll LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08545 United Plaza Blvd - No 200
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ReturnHeader/PreparerPersonGrp/PreparationDt02018-06-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Charles R Pevey
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ReturnHeader/ReturnTs02018-07-05T16:26:51-05:00
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ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,131
Liabilities
$6,267
Net assets
$4,864
Revenue
$165,000
Expenses
$279,802
Net income
-$114,802
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.40$0.00$0.40$1.60$1.66$0.07
2023Detailed filing. Detailed filing data is available for this year.$0.47$0.00$0.47$4.75$5.05$0.30
2022Detailed filing. Detailed filing data is available for this year.$0.76$0.00$0.76$3.84$4.61$0.77
2021Detailed filing. Detailed filing data is available for this year.$1.53$0.00$1.53$2.22$0.71$1.51
2020Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$6.93$7.46$0.53
2019Detailed filing. Detailed filing data is available for this year.$0.55$0.00$0.55$0.58$0.05$0.53
2018Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.00$0.04$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.11$0.06$0.05$1.65$2.80$1.15
2016Detailed filing. Detailed filing data is available for this year.$1.20$0.00$1.20$7.56$6.37$1.20