Civic Intelligence

2018 Nola Foundation

990 • Fiscal year 2017 • EIN 47-2294693

Jan 01, 2017 to Dec 31, 2017 • Filed on Sep 21, 2018

Organization Profile2018NOLA.COM
201 St Charles Suite 114-407New Orleans, LA 70170

(504) 284-8688

Siviq Scores

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

Liabilities / Assets

47th percentile

0.08x

Higher debt load relative to assets than 47% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

33rd percentile

0.04x

Higher debt load relative to revenue than 33% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

88th percentile

39%

Higher net margin than 88% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

99th percentile

448%

Faster asset growth than 99% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

99th percentile

581%

Faster revenue growth than 99% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$1,647,182

Up $1,346,630 (+448%) from 2016

Net Assets

Up

$1,518,821

Up $1,270,668 (+512%) from 2016

Liabilities

Up

$128,361

Up $75,962 (+145%) from 2016

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin88th percentile

Revenue

Up

$3,282,974

Up $2,800,809 (+581%) from 2016

Expenses

Up

$2,012,306

Up $1,755,466 (+683%) from 2016

Net Income

Up

$1,270,668

Up $1,045,343 (+464%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2015: $88,476Liabilities 2015: $65,648Net Assets 2015: $22,8282015Assets 2016: $300,552Liabilities 2016: $52,399Net Assets 2016: $248,1532016Assets 2017: $1,647,182Liabilities 2017: $128,361Net Assets 2017: $1,518,8212017Assets 2018: $276,280Liabilities 2018: $120,142Net Assets 2018: $156,1382018Assets 2019: $10,493Liabilities 2019: $0Net Assets 2019: $10,4932019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2017

Assets$1,647,182
Liabilities$128,361
Net Assets$1,518,821
Open 2017 Filing

Operations Trend

Revenue Growth99th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2015: $3,556,890Expenses 2015: $3,534,062Net Income 2015: $22,8282015Revenue 2016: $482,165Expenses 2016: $256,840Net Income 2016: $225,3252016Revenue 2017: $3,282,974Expenses 2017: $2,012,306Net Income 2017: $1,270,6682017Revenue 2018: $2,199,780Expenses 2018: $3,525,513Net Income 2018: -$1,325,7332018Revenue 2019: $55,927Expenses 2019: $139,291Net Income 2019: -$83,3642019Revenue 2020: $6,494Expenses 2020: $16,987Net Income 2020: -$10,4932020

Highlighted filing

2017

Revenue$3,282,974
Expenses$2,012,306
Net Income$1,270,668
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Sep 21, 2018
Return Version
2017v2.3
Gross Receipts
$3,282,974
Mission and Program Overview

Mission

The mission of the foundation is to promote the 300th anniversary of the city of new orleans in 2018. The foundation's efforts are focused on raising awareness about the cultural significance of the city and its evolution over time. The foundation is also restoring historic gallier hall, as well as planning multiple events to commemorate the tricentennial.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$173,227$1,125,000▲ $951,773
Cash and Non-Interest-Bearing Accounts$112,848$361,930▲ $249,082
Prepaid Expenses and Deferred Charges$4,663$127,164▲ $122,501
Accounts Receivable-$15,445-
Total Assets$300,552$1,647,182▲ $1,346,630
Other Assets Total$9,814$17,643▲ $7,829
Liabilities
Accounts Payable and Accrued Expenses$33,317$80,521▲ $47,204
Other Liabilities$19,082$47,840▲ $28,758
Total Liabilities$52,399$128,361▲ $75,962
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$1,239,769-
Unrestricted Net Assets$248,153$279,052▲ $30,899
Total Net Assets Fund Balance$248,153$1,518,821▲ $1,270,668
Total Liabilities and Net Assets / Fund Balance$300,552$1,647,182▲ $1,346,630
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Richard Cortizas - Jones Walker LlpChair
Diana LewisMember
Lawrence KullmanMember
Phala MireMember
Timothy FrancisSecretary
Stephen HalesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,228,084
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$54,890
All Other Contributions
$1,228,084
Change in Net Assets
$1,270,668

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,282,974
Total Revenue per Audited Statements
$3,282,974
Total Revenue per Form 990
$3,282,974
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,435,472
Other Expenses$536,262
Total Fundraising Expense$133,483
Salaries, Compensation, and Employee Benefits$40,572
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,435,472--$1,435,472
Fees for Services Management$209,592--$209,592
Other Salaries and Wages-$40,572-$40,572
Travel$24,239$11,669-$35,908
Office Expenses-$19,273$16,164$35,437
Information Technology$14,203--$14,203
Other Expenses$4,260$545$3,510$8,315
Insurance-$6,995-$6,995
Total Functional Expenses$1,749,590$129,233$133,483$2,012,306

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,012,306
Total Expenses per Audited Statements$2,012,306
Total Expenses per Form 990$2,012,306
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of New OrleansNew Orleans, LAGovRenovations$1,435,472
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$42,207
Cash Held on Behalf of Other$5,633
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The 990 return is prepared by an independent cpa firm and provided to management and the board for review and approval before filing with the irs.”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
2018 Nola Foundation
EIN
47-2294693
Phone
5042848688
Address
201 ST CHARLES SUITE 114-407, NEW ORLEANS, LA 70170

Signing Officer

Name
Richard Cortizas - Jones Walker Ll
Title
Chair
Phone
5042848688
Signed
2018-09-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Cortizas - Jones Walker Ll
Formed
2014
Legal Domicile
La
Voting Board Members
6
Independent Board Members
6
Employees
1

Preparer

Firm
Bruno & Tervalon Llp Cpas
Address
4298 ELYSIAN FIELDS AVE, NEW ORLEANS, LA 70122
Preparer
Waldo J Moret Jr
Phone
5042848733
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission of the foundation is to promote the 300th anniversary of the city of new orleans in 2018. The foundation's efforts are focused on raising awareness about the cultural significance of the city and its evolution over time. The foundation is also restoring historic gallier hall, as well as planning multiple events to commemorate the tricentennial.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE FOUNDATION IS TO PROMOTE THE 300TH ANNIVERSARY OF THE CITY OF NEW ORLEANS IN 2018. THE FOUNDATION'S EFFORTS ARE FOCUSED ON RAISING AWARENESS ABOUT THE CULTURAL SIGNIFICANCE OF THE CITY AND ITS EVOLUTION OVER TIME. THE FOUNDATION IS ALSO RESTORING HISTORIC GALLIER HALL, AS WELL AS PLANNING MULTIPLE EVENTS TO COMMEMORATE THE TRICENTENNIAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 RETURN IS PREPARED BY AN INDEPENDENT CPA FIRM AND PROVIDED TO MANAGEMENT AND THE BOARD FOR REVIEW AND APPROVAL BEFORE FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BusinessOfficerGrp/SignatureDt02018-09-21
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ReturnHeader/FilingSecurityInformation/IPTm011:15:35
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ReturnHeader/ReturnTs02018-09-26T11:15:35-05:00
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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
$1,647,182
Liabilities
$128,361
Net assets
$1,518,821
Revenue
$3,282,974
Expenses
$2,012,306
Net income
$1,270,668
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.01$0.02$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.01$0.00$0.01$0.06$0.14$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.28$0.12$0.16$2.20$3.53$1.33
2017Detailed filing. Detailed filing data is available for this year.$1.65$0.13$1.52$3.28$2.01$1.27
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.30$0.05$0.25$0.48$0.26$0.23
2015Detailed filing. Detailed filing data is available for this year.$0.09$0.07$0.02$3.56$3.53$0.02