Civic Intelligence

Labi Foundation

990 • Fiscal year 2022 • EIN 46-4858854

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 07, 2023

Organization ProfileN/A
500 Main StreetBaton Rouge, LA 70801

(225) 928-5388

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

19th percentile

-20%

Higher net margin than 19% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

10th percentile

-50%

Faster asset growth than 10% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

79th percentile

73%

Faster revenue growth than 79% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$76,238

Down $76,729 (-50%) from 2021

Net Assets

Down

$76,238

Down $76,729 (-50%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin19th percentile

Revenue

Up

$383,943

Up $161,534 (+73%) from 2021

Expenses

Up

$460,672

Up $389,470 (+547%) from 2021

Net Income

Down

-$76,729

Down $227,936 (-151%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth10th 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

2022

Assets$76,238
Liabilities$0
Net Assets$76,238
Open 2022 Filing

Operations Trend

Revenue Growth79th 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

2022

Revenue$383,943
Expenses$460,672
Net Income-$76,729
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 7, 2023
Return Version
2022v5.0
Gross Receipts
$383,943
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$140,038$76,238▼ $63,800
Accounts Receivable$12,929--
Total Assets$152,967$76,238▼ $76,729
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$152,967$76,238▼ $76,729
Total Net Assets Fund Balance$152,967$76,238▼ $76,729
Total Liabilities and Net Assets / Fund Balance$152,967$76,238▼ $76,729
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$265,000
Program Service Revenue
$118,943
Investment Income
$0
Other Revenue
$0
All Other Contributions
$265,000
Change in Net Assets
$-76,729
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$325,000
Other Expenses$135,672
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$325,000--$325,000
Conferences and Meetings$120,857--$120,857
Fees for Services Other$13,500--$13,500
Fees for Services Accounting-$1,050-$1,050
Other Expenses-$265-$265
Total Functional Expenses$459,357$1,315$0$460,672
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Louisiana Association of Business and IndustryBaton Rouge, LA501(c)(6)To work with in partnership with business leaders to educate and help deliver successful strategies to maximize economic potential.$275,000
The Coalition to Restore Coastal LouisianaNew Orleans, LA501(c)(3)To unite people in action to achieve a thriving, sustainable Louisiana coast.$50,000
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
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
2259285388
Address
500 Main Street, Baton Rouge, LA 70801

Signing Officer

Name
James Patterson
Title
Vice President
Phone
2259285388
Signed
2023-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Patterson
Formed
2014
Legal Domicile
La
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
15

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.”

Raw XML Appendix381 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/ProgSrvcAccomActy2Grp/Desc0Offered educational materials and programs on issues of importance in the State of Louisiana. These activities include, but are not limited to, panel discussions, conferences, presentations, research and communications that are beneficial to the mission of LABI Foundation.
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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/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0To work with in partnership with business leaders to educate and help deliver successful strategies to maximize economic potential.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1To unite people in action to achieve a thriving, sustainable Louisiana coast.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Louisiana Association of Business and Industry
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1The Coalition to Restore Coastal Louisiana
IRS990ScheduleI/RecipientTable/RecipientEIN0720780313
IRS990ScheduleI/RecipientTable/RecipientEIN1721115589
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0500 Main Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt13801 Canal St Suite 400
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IRS990ScheduleI/RecipientTable/USAddress/CityNm1New Orleans
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1LA
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The LABI Foundation supported the LABI Capital Campaign to raise funds to renovate a permanent office headquarters. By supporting the campaign, LABI Foundation will have access to the Conference Center and meeting spaces to help educate and promote economic development. The Foundation used the funds to pay the renovation costs and its Board received updates on the payments to the renovation facility.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
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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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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Louisiana Association of Business and Industry
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0720780313
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0LA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Membership organization
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0500 Main Street
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Baton Rouge
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0LA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd070801
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0275000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Cash Disbursed
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Louisiana Association of Business and Industry
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0152967
IRS990/TotalAssetsEOYAmt076238
IRS990/TotalAssetsGrp/BOYAmt0152967
IRS990/TotalAssetsGrp/EOYAmt076238
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0265000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01315
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0459357
IRS990/TotalFunctionalExpensesGrp/TotalAmt0460672
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IRS990/TotalLiabilitiesBOYAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt076238
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IRS990/TotalProgramServiceRevenueAmt0118943
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0118943
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0383943
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt015
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0152967
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt076238
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd01
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0500 Main Street
IRS990/USAddress/CityNm0Baton Rouge
IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd070801
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0James Patterson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Vice President
ReturnHeader/BusinessOfficerGrp/PhoneNum02259285388
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LABI Foundation
ReturnHeader/Filer/BusinessNameControlTxt0LABI
ReturnHeader/Filer/EIN0464858854
ReturnHeader/Filer/PhoneNum02259285388
ReturnHeader/Filer/USAddress/AddressLine1Txt0500 Main Street
ReturnHeader/Filer/USAddress/CityNm0Baton Rouge
ReturnHeader/Filer/USAddress/StateAbbreviationCd0LA
ReturnHeader/Filer/USAddress/ZIPCd070801
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0720464428
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Hawthorn Waymouth & Carroll LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08545 United Plaza Blvd - No 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Baton Rouge
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0LA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0708099982
ReturnHeader/PreparerPersonGrp/PhoneNum02259233000
ReturnHeader/PreparerPersonGrp/PreparationDt02023-10-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Charles R Pevey
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-11-07T08:23:41-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0James
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Patterson
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$76,238
Liabilities
$0
Net assets
$76,238
Revenue
$383,943
Expenses
$460,672
Net income
-$76,729
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