Civic Intelligence

Iberia Industrial Development Sfoundation

990 • Fiscal year 2019 • EIN 72-1027792

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 18, 2020

Organization ProfileWWW.IBERIABIZ.ORG
101 Burke StreetNew Iberia, LA 70560

(337) 367-0834

Siviq Scores

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

Liabilities / Assets

95th percentile

0.71x

Higher debt load relative to assets than 95% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

87th percentile

0.24x

Higher debt load relative to revenue than 87% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Net Margin

29th percentile

-5.9%

Higher net margin than 29% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Top Officer Pay

99th percentile

$149,429

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 40.3% of source-year revenue.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Asset Growth

39th percentile

-2.3%

Faster asset growth than 39% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

75th percentile

15%

Faster revenue growth than 75% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$126,664

Down $3,009 (-2.3%) from 2018

Net Assets

Down

$36,782

Down $21,807 (-37%) from 2018

Liabilities

Up

$89,882

Up $18,798 (+26%) from 2018

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin29th percentile

Revenue

Up

$370,776

Up $48,366 (+15%) from 2018

Expenses

Up

$392,583

Up $2,863 (+0.7%) from 2018

Net Income

Up

-$21,807

Up $45,503 (+68%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

$600K$400K$200K$0Assets 2010: $266,942Liabilities 2010: $25,100Net Assets 2010: $241,8422010Assets 2011: $277,310Liabilities 2011: $23,847Net Assets 2011: $253,4632011Assets 2012: $263,339Liabilities 2012: $10,844Net Assets 2012: $252,4952012Assets 2013: $262,867Liabilities 2013: $16,074Net Assets 2013: $246,7932013Assets 2014: $259,446Liabilities 2014: $3,581Net Assets 2014: $255,8652014Assets 2015: $232,633Liabilities 2015: $21,796Net Assets 2015: $210,8372015Assets 2016: $220,171Liabilities 2016: $44,882Net Assets 2016: $175,2892016Assets 2017: $170,420Liabilities 2017: $44,521Net Assets 2017: $125,8992017Assets 2018: $129,673Liabilities 2018: $71,084Net Assets 2018: $58,5892018Assets 2019: $126,664Liabilities 2019: $89,882Net Assets 2019: $36,7822019Assets 2020: $213,537Liabilities 2020: $154,160Net Assets 2020: $59,3772020Assets 2021: $397,335Liabilities 2021: $160,379Net Assets 2021: $236,9562021Assets 2022: $421,218Liabilities 2022: $155,913Net Assets 2022: $265,3052022Assets 2023: $446,534Liabilities 2023: $152,799Net Assets 2023: $293,7352023Assets 2024: $494,744Liabilities 2024: $149,124Net Assets 2024: $345,6202024

Highlighted filing

2019

Assets$126,664
Liabilities$89,882
Net Assets$36,782
Open 2019 Filing

Operations Trend

Revenue Growth75th percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $350,9152010Expenses 2011: $412,3672011Expenses 2012: $469,1432012Revenue 2013: $334,991Expenses 2013: $342,197Net Income 2013: -$7,2062013Revenue 2014: $357,093Expenses 2014: $349,521Net Income 2014: $7,5722014Revenue 2015: $354,152Expenses 2015: $401,680Net Income 2015: -$47,5282015Revenue 2016: $358,556Expenses 2016: $394,104Net Income 2016: -$35,5482016Revenue 2017: $342,789Expenses 2017: $392,179Net Income 2017: -$49,3902017Revenue 2018: $322,410Expenses 2018: $389,720Net Income 2018: -$67,3102018Revenue 2019: $370,776Expenses 2019: $392,583Net Income 2019: -$21,8072019Revenue 2020: $354,907Expenses 2020: $332,310Net Income 2020: $22,5972020Revenue 2021: $556,634Expenses 2021: $379,055Net Income 2021: $177,5792021Revenue 2022: $417,779Expenses 2022: $389,430Net Income 2022: $28,3492022Revenue 2023: $463,248Expenses 2023: $434,818Net Income 2023: $28,4302023Revenue 2024: $525,484Expenses 2024: $473,599Net Income 2024: $51,8852024

Highlighted filing

2019

Revenue$370,776
Expenses$392,583
Net Income-$21,807
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 18, 2020
Return Version
2019v5.1
Gross Receipts
$376,936
Mission and Program Overview

Mission

Promote industrial and economic development for existing companies and recruit additional industries to locate in iberia parish.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$64,218$57,180▼ $7,038
Savings and Temporary Cash Investments$29,003$29,472▲ $469
Accounts Receivable$26,802$17,656▼ $9,146
Cash and Non-Interest-Bearing Accounts$3,446$14,249▲ $10,803
Prepaid Expenses and Deferred Charges$6,204$8,107▲ $1,903
Total Assets$129,673$126,664▼ $3,009
Liabilities
Unsecured Notes Loans Payable$49,107$56,122▲ $7,015
Accounts Payable and Accrued Expenses$21,627$33,210▲ $11,583
Deferred Revenue$350$550▲ $200
Total Liabilities$71,084$89,882▲ $18,798
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$58,589$36,782▼ $21,807
Total Net Assets Fund Balance$58,589$36,782▼ $21,807
Total Liabilities and Net Assets / Fund Balance$129,673$126,664▼ $3,009

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$46,180$113,966$160,146
Equipment$0$65,024$65,024
Land$11,000-$11,000
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Michael TarantinoPresident/CEOFT$149,429$149,429

Board Members and Trustees

NameTitle
Elizabeth BodinChairperson
Reid SellersPast Chairperson
Parker TempletonVice Chairperson
Brad CliftonBoard Member
Carey LavioletteBoard Member
Carol Bourgeois JrBoard Member
Chad CourtoisBoard Member
Craig RomeroBoard Member
Dan DoerleBoard Member
Fran ThibodeauxBoard Member
Freddie DecourtBoard Member
Katie ChiassonBoard Member
Korey KimballBoard Member
Kristie Mcmath-hebertBoard Member
Larry RichardBoard Member
Pam BlakelyBoard Member
Pat NorrisBoard Member
Paul LandryBoard Member
Ryan BaudoinBoard Member
Wendell VerretBoard Member
Mike FlashEx. Cmte. Member at Large
Fran HendersonSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$61,000
Program Service Revenue
$308,737
Investment Income
$499
Other Revenue
$540
Change in Net Assets
$-21,807
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$301,902
Other Expenses$90,681
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$126,263$31,566-$157,829
Other Salaries and Wages$69,260$28,289-$97,549
Other Employee Benefits$20,246$8,270-$28,516
Payroll Taxes$459$17,549-$18,008
Office Expenses$6,261$4,284-$10,545
Fees for Services Accounting-$8,805-$8,805
Other Expenses$6,590$127-$6,717
All Other Expenses$2,109$3,694-$5,803
Depreciation Depletion-$5,456-$5,456
Interest-$4,830-$4,830
Occupancy-$4,462-$4,462
Advertising$4,010$316-$4,326
Insurance-$2,759-$2,759
Total Functional Expenses$263,248$129,335$0$392,583
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
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

“President/ceo reviews the 990 before signing. The return is not reviewed by other board members unless requested.”

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

“Executive committee, board members, and key employees disclosure related parties, business interests, and any possible conflicts of interest. These disclosures are reviewed annually by the president and chairman.”

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

“Compensation of the president/ceo is reviewed and determined by the executive committee annually, based on performance and other qualitative factors.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy, and financial statements are available to the public upon request. Reviewed financial statements are available for public inspection on the louisiana legislative auditor's website.”

Filing and Contact Details

Filer

Filer Name
Iberia Industrial Development Foundation
EIN
72-1027792
Phone
3373670834
Address
101 BURKE STREET, NEW IBERIA, LA 70560

Signing Officer

Name
Michael Tarantino
Title
President and CEO
Phone
3373670834
Signed
2020-08-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Tarantino
Formed
1994
Legal Domicile
La
Voting Board Members
23
Independent Board Members
22
Employees
3
Volunteers
0

Preparer

Firm
Postlethwaite & Netterville
Address
400 E KALISTE SALOOM RD STE 7100, LAFAYETTE, LA 70508
Preparer
David Edmond
Phone
3372348431
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C-oversight/selection Process of Audit

“The reviewers of the financial statements for the this tax year were postlethwaite & netterville, apac. This is the same firm engaged in the prior year. In accordance with the state of louisiana audit guide, the level of louisiana public funds received by the foundation during 2019 required a review and agreed-upon procedures engagement (the same level of service the foundation had in the prior year).”

Financial Statement Notes

PART X, LINE 2:

“Notes to reviewed financial statements: the foundation is an exempt organization for federal income tax purposes under section 501(c)(6) of the internal revenue code. Management has determined that the foundation does not have any uncertain tax positions or associated unrecognized benefits that materially impact the financial statements or related disclosures. Since tax matters are subject to some degree of uncertainty, there can be no assurance that the foundation's tax returns will not be challenged by the taxing authorities and that the foundation will not be subject to additional tax, penalties, and interest as a result of such challenge. Generally, the foundation's tax returns remain open for three years for federal and state income tax examination which is 2016 and after.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt4EX. CMTE. MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt22PRESIDENT/CEO
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IRS990/FormationYr01994
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IRS990/GovernmentGrantsAmt031000
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IRS990/GrossReceiptsAmt0376936
IRS990/GrossRentsGrp/RealAmt06700
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IRS990/IndependentAuditFinclStmtInd00
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IRS990/IndoorTanningServicesInd00
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IRS990/InterestGrp/ManagementAndGeneralAmt04830
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt064218
IRS990/LandBldgEquipBasisNetGrp/EOYAmt057180
IRS990/LandBldgEquipCostOrOtherBssAmt0236170
IRS990/LegalDomicileStateCd0LA
IRS990/LessRentalExpensesGrp/RealAmt06160
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembershipDuesAmt030000
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0PROMOTE INDUSTRIAL AND ECONOMIC DEVELOPMENT FOR EXISTING COMPANIES AND RECRUIT ADDITIONAL INDUSTRIES TO LOCATE IN IBERIA PARISH.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt058589
IRS990/NetAssetsOrFundBalancesEOYAmt036782
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt0540
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0540
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt058589
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt036782
IRS990/NoncashContributionsAmt04000
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt04462
IRS990/OccupancyGrp/TotalAmt04462
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04284
IRS990/OfficeExpensesGrp/ProgramServicesAmt06261
IRS990/OfficeExpensesGrp/TotalAmt010545
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt08270
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt020246
IRS990/OtherEmployeeBenefitsGrp/TotalAmt028516
IRS990/OtherExpensesGrp/Desc0BUSINESS DEVELOPMENT
IRS990/OtherExpensesGrp/Desc1SPECIAL PROJECTS
IRS990/OtherExpensesGrp/Desc2REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc3TELEPHONE EXPENSE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0305
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11000
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt27623
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3127
IRS990/OtherExpensesGrp/ProgramServicesAmt015946
IRS990/OtherExpensesGrp/ProgramServicesAmt112104
IRS990/OtherExpensesGrp/ProgramServicesAmt26590
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IRS990/OtherExpensesGrp/TotalAmt113104
IRS990/OtherExpensesGrp/TotalAmt27623
IRS990/OtherExpensesGrp/TotalAmt36717
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt028289
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt069260
IRS990/OtherSalariesAndWagesGrp/TotalAmt097549
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt017549
IRS990/PayrollTaxesGrp/ProgramServicesAmt0459
IRS990/PayrollTaxesGrp/TotalAmt018008
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt06204
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt08107
IRS990/PrincipalOfficerNm0MICHAEL TARANTINO
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/Desc0HOTEL/MOTEL TAX
IRS990/ProgramServiceRevenueGrp/Desc1SPECIAL PROJECTS - ARA
IRS990/ProgramServiceRevenueGrp/Desc2SPECIAL PROJECTS - IDE
IRS990/ProgramServiceRevenueGrp/Desc3SPECIAL PROJECTS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0194487
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt172000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt242000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3250
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0194487
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt172000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt242000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3250
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IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt097858
IRS990/ProgSrvcAccomActy3Grp/Desc0INDUSTRIAL PARK SUPPORT, MARKETING AND DEVELOPMENT SERVICES: WE DEVELOPED AND DISTRIBUTED INFORMATION ON AVAILABLE PROPERTIES AND COMMERCIAL BUILDINGS LOCATED IN IBERIA PARISH, INCLUDING THOSE LOCATED AT THE PORT OF IBERIA, ACADIANA REGIONAL AIRPORT AND PROGRESS POINT BUSINESS PARK. WE MARKETED AVAILABLE SITES AND BUILDINGS THROUGH ATTENDANCE AT REGIONAL TRADE SHOWS, MAINTENANCE OF WEB SITE AVAILABLE PROPERTIES, DIRECT MAILINGS TO SITE SELECTORS AND REAL ESTATE AGENTS, PERSONAL VISITS TO PROPERTY DEVELOPMENT AGENTS, RESPONSES TO LOUISIANA ECONOMIC DEVELOPMENT REQUESTS FOR PROPOSALS AND OTHER AVAILABLE PROPERTY REQUESTS FROM OTHER REGIONAL AND LOCAL ECONOMIC DEVELOPMENT AGENCIES.
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IRS990/PYProgramServiceRevenueAmt0252160
IRS990/PYRevenuesLessExpensesAmt0-67310
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IRS990/PYTotalExpensesAmt0389720
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0322410
IRS990/ReconcilationRevenueExpnssAmt0-21807
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt0540
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt029003
IRS990/SavingsAndTempCashInvstGrp/EOYAmt029472
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$126,664
Liabilities
$89,882
Net assets
$36,782
Revenue
$370,776
Expenses
$392,583
Net income
-$21,807
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.95$1.49$3.46$5.25$4.74$0.52
2023Detailed filing. Detailed filing data is available for this year.$4.47$1.53$2.94$4.63$4.35$0.28
2022Detailed filing. Detailed filing data is available for this year.$4.21$1.56$2.65$4.18$3.89$0.28
2021Detailed filing. Detailed filing data is available for this year.$3.97$1.60$2.37$5.57$3.79$1.78
2020Detailed filing. Detailed filing data is available for this year.$2.14$1.54$0.59$3.55$3.32$0.23
2019Detailed filing. Detailed filing data is available for this year.$1.27$0.90$0.37$3.71$3.93$0.22
2018Detailed filing. Detailed filing data is available for this year.$1.30$0.71$0.59$3.22$3.90$0.67
2017Detailed filing. Detailed filing data is available for this year.$1.70$0.45$1.26$3.43$3.92$0.49
2016Detailed filing. Detailed filing data is available for this year.$2.20$0.45$1.75$3.59$3.94$0.36
2015Detailed filing. Detailed filing data is available for this year.$2.33$0.22$2.11$3.54$4.02$0.48
2014Detailed filing. Detailed filing data is available for this year.$2.59$0.04$2.56$3.57$3.50$0.08
2013Detailed filing. Detailed filing data is available for this year.$2.63$0.16$2.47$3.35$3.42$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.63$0.11$2.52$4.69
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.77$0.24$2.53$4.12
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.67$0.25$2.42$3.51