Civic Intelligence

2018 Nola Foundation

990 • Fiscal year 2018 • EIN 47-2294693

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 25, 2019

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

78th percentile

0.43x

Higher debt load relative to assets than 78% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

39th percentile

0.05x

Higher debt load relative to revenue than 39% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

5th percentile

-60%

Higher net margin than 5% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

1st percentile

-83%

Faster asset growth than 1% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

9th percentile

-33%

Faster revenue growth than 9% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$276,280

Down $1,370,902 (-83%) from 2017

Net Assets

Down

$156,138

Down $1,362,683 (-90%) from 2017

Liabilities

Down

$120,142

Down $8,219 (-6.4%) from 2017

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin5th percentile

Revenue

Down

$2,199,780

Down $1,083,194 (-33%) from 2017

Expenses

Up

$3,525,513

Up $1,513,207 (+75%) from 2017

Net Income

Down

-$1,325,733

Down $2,596,401 (-204%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth1st 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

2018

Assets$276,280
Liabilities$120,142
Net Assets$156,138
Open 2018 Filing

Operations Trend

Revenue Growth9th 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

2018

Revenue$2,199,780
Expenses$3,525,513
Net Income-$1,325,733
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 25, 2019
Return Version
2018v3.1
Gross Receipts
$2,199,780
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$1,125,000--
Cash and Non-Interest-Bearing Accounts$361,930$169,350▼ $192,580
Accounts Receivable$15,445$50,000▲ $34,555
Prepaid Expenses and Deferred Charges$127,164$4,763▼ $122,401
Total Assets$1,647,182$276,280▼ $1,370,902
Other Assets Total$17,643$52,167▲ $34,524
Liabilities
Other Liabilities$47,840$60,916▲ $13,076
Accounts Payable and Accrued Expenses$80,521$59,226▼ $21,295
Total Liabilities$128,361$120,142▼ $8,219
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,239,769--
Unrestricted Net Assets$279,052$156,138▼ $122,914
Total Net Assets Fund Balance$1,518,821$156,138▼ $1,362,683
Total Liabilities and Net Assets / Fund Balance$1,647,182$276,280▼ $1,370,902

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$4,584--
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
$2,119,152
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$80,628
All Other Contributions
$1,369,152
Change in Net Assets
$-1,325,733

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,199,780
Revenue Not Reported on Form 990
$8,000
Total Revenue per Audited Statements
$2,207,780
Total Revenue per Form 990
$2,199,780
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,633,875
Grants and Similar Amounts Paid$852,341
Total Fundraising Expense$72,764
Salaries, Compensation, and Employee Benefits$39,297
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$2,306,278--$2,306,278
Grants to Domestic Orgs$852,341--$852,341
Other Salaries and Wages-$39,297-$39,297
Office Expenses-$12,959-$12,959
Other Expenses$3,929$6,350$72,764$10,279
Insurance-$7,870-$7,870
Travel-$2,478-$2,478
Information Technology$2,425--$2,425
Total Functional Expenses$3,356,068$96,681$72,764$3,525,513

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,570,463
Expenses per Audited Statements$3,525,513
Total Expenses per Form 990$3,525,513
Expenses Not Reported on Form 990$44,950
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of New OrleansNew Orleans, LAGovRenovations$852,341
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 Funding Source$36,950
Due to Affiliate$13,333
Cash Held on Behalf of Other$10,633
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
2019-07-25
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.”

Form 990, Part XI, Line 9

“Losses reported on return -36,950”

Raw XML Appendix396 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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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd070112
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/ExplanationTxt3LOSSES REPORTED ON RETURN -36,950
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0NEW ORLEANS TOURISM MARKETING CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0LA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02020 ST CHARLES AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NEW ORLEANS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0LA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd070130
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0100000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt113333
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0NOTMC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1NOTMC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0C
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1P
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt01239769
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01647182
IRS990/TotalAssetsEOYAmt0276280
IRS990/TotalAssetsGrp/BOYAmt01647182
IRS990/TotalAssetsGrp/EOYAmt0276280
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02119152
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt072764
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt096681
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03356068
IRS990/TotalFunctionalExpensesGrp/TotalAmt03525513
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0128361
IRS990/TotalLiabilitiesEOYAmt0120142
IRS990/TotalLiabilitiesGrp/BOYAmt0128361
IRS990/TotalLiabilitiesGrp/EOYAmt0120142
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01518821
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0156138
IRS990/TotalProgramServiceExpensesAmt03356068
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt080628
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02199780
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01647182
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0276280
IRS990/TravelGrp/ManagementAndGeneralAmt02478
IRS990/TravelGrp/TotalAmt02478
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0279052
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0156138
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0201 ST CHARLES AVENUE
IRS990/USAddress/CityNm0NEW ORLEANS
IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd070170
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt02018NOLA.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD CORTIZAS - JONES WALKER LL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum05042848688
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-07-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt02018 NOLA FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt02018
ReturnHeader/Filer/EIN0472294693
ReturnHeader/Filer/PhoneNum05042848688
ReturnHeader/Filer/USAddress/AddressLine1Txt0201 ST CHARLES SUITE 114-407
ReturnHeader/Filer/USAddress/CityNm0NEW ORLEANS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0LA
ReturnHeader/Filer/USAddress/ZIPCd070170
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0F18ED24ED9506EDA7C105966AE009E4DC268BB16
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0F18ED24ED9506EDA7C105966AE009E4DC268BB16
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt098.172.42.138
ReturnHeader/FilingSecurityInformation/IPDt02019-08-20
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:34:24
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0720877929
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BRUNO & TERVALON LLP CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04298 ELYSIAN FIELDS AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW ORLEANS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0LA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd070122
ReturnHeader/PreparerPersonGrp/PhoneNum05042848733
ReturnHeader/PreparerPersonGrp/PreparationDt02019-07-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WALDO J MORET JR
ReturnHeader/ReturnTs02019-08-20T10:34:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$276,280
Liabilities
$120,142
Net assets
$156,138
Revenue
$2,199,780
Expenses
$3,525,513
Net income
-$1,325,733
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
2018Detailed filing. Detailed filing data is available for this year.$0.28$0.12$0.16$2.20$3.53$1.33
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$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