Civic Intelligence

Algiers Economic Development Foundation Inc.

990 • Fiscal year 2021 • EIN 72-1275640

Jul 01, 2020 to Jun 30, 2021 • Filed on May 17, 2021

Organization ProfileWWW.ALGIERSECONOMIC.COM
2401 Westbend PkwyNew Orleans, LA 70114

(504) 362-6436

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.18x

Higher debt load relative to assets than 82% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

79th percentile

0.10x

Higher debt load relative to revenue than 79% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

75th percentile

31%

Higher net margin than 75% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

97th percentile

$83,250

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 24.9% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

96th percentile

279%

Faster asset growth than 96% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

91st percentile

164%

Faster revenue growth than 91% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$174,976

Up $128,848 (+279%) from 2020

Net Assets

Up

$143,175

Up $126,333 (+750%) from 2020

Liabilities

Up

$31,801

Up $2,515 (+8.6%) from 2020

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin75th percentile

Revenue

Up

$334,514

Up $207,959 (+164%) from 2020

Expenses

Up

$229,271

Up $71,693 (+45%) from 2020

Net Income

Up

$105,243

Up $136,266 (+439%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$300K$200K$100K$0Assets 2011: $268,154Liabilities 2011: $27,744Net Assets 2011: $240,4102011Assets 2012: $204,391Liabilities 2012: $53,837Net Assets 2012: $150,5542012Assets 2013: $170,751Liabilities 2013: $61,003Net Assets 2013: $109,7482013Assets 2014: $97,936Liabilities 2014: $37,765Net Assets 2014: $60,1712014Assets 2015: $65,657Liabilities 2015: $8,229Net Assets 2015: $57,4282015Assets 2017: $49,396Liabilities 2017: $4,850Net Assets 2017: $44,5462017Assets 2018: $49,384Liabilities 2018: $5,209Net Assets 2018: $44,1752018Assets 2019: $51,468Liabilities 2019: $3,603Net Assets 2019: $47,8652019Assets 2020: $46,128Liabilities 2020: $29,286Net Assets 2020: $16,8422020Assets 2021: $174,976Liabilities 2021: $31,801Net Assets 2021: $143,1752021Assets 2022: $187,414Liabilities 2022: $3,541Net Assets 2022: $183,8732022Assets 2023: $90,288Liabilities 2023: $3,279Net Assets 2023: $87,0092023Assets 2024: $101,271Liabilities 2024: $3,584Net Assets 2024: $97,6872024Assets 2025: $139,762Liabilities 2025: $31,698Net Assets 2025: $108,0642025

Highlighted filing

2021

Assets$174,976
Liabilities$31,801
Net Assets$143,175
Open 2021 Filing

Operations Trend

Revenue Growth91st percentile

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

$400K$200K$0-$200KExpenses 2011: $271,7922011Expenses 2012: $338,8112012Expenses 2013: $230,1582013Revenue 2014: $146,182Expenses 2014: $195,759Net Income 2014: -$49,5772014Revenue 2015: $190,739Expenses 2015: $193,482Net Income 2015: -$2,7432015Revenue 2017: $175,517Expenses 2017: $164,851Net Income 2017: $10,6662017Revenue 2018: $154,757Expenses 2018: $154,808Net Income 2018: -$512018Revenue 2019: $159,866Expenses 2019: $156,176Net Income 2019: $3,6902019Revenue 2020: $126,555Expenses 2020: $157,578Net Income 2020: -$31,0232020Revenue 2021: $334,514Expenses 2021: $229,271Net Income 2021: $105,2432021Revenue 2022: $295,450Expenses 2022: $254,752Net Income 2022: $40,6982022Revenue 2023: $276,831Expenses 2023: $373,695Net Income 2023: -$96,8642023Revenue 2024: $255,740Expenses 2024: $245,062Net Income 2024: $10,6782024Revenue 2025: $318,937Expenses 2025: $308,416Net Income 2025: $10,5212025

Highlighted filing

2021

Revenue$334,514
Expenses$229,271
Net Income$105,243
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 17, 2021
Return Version
2020v4.1
Gross Receipts
$334,514
Mission and Program Overview

Mission

The mission of aedf is to help the

The mission of AEDF is to build a sustainable, business-friendly environment that grows investments and jobs in Westbank New Orleans through advocacy, marketing, and business development, recruitment, and retention.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$45,115$127,328▲ $82,213
Accounts Receivable$0$46,035▲ $46,035
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$46,128$174,976▲ $128,848
Other Assets Total$1,013$1,613▲ $600
Liabilities
Unsecured Notes Loans Payable$26,467$23,765▼ $2,702
Accounts Payable and Accrued Expenses$2,819$8,036▲ $5,217
Total Liabilities$29,286$31,801▲ $2,515
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,894$102,773▲ $88,879
Net Assets With Donor Restrictions$2,948$40,402▲ $37,454
Total Net Assets Fund Balance$16,842$143,175▲ $126,333
Total Liabilities and Net Assets / Fund Balance$46,128$174,976▲ $128,848

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$9,418$9,418
Land$0-$0
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleBaseTotal
Kelsey FosterExecutive Director$83,250$83,250

Board Members and Trustees

NameTitle
Ron H BordelonImmediate Past President
Rachel ShieldsPresident
Freddie King IiiVice President
Krysta Pouncy-dysonVice President
Ben MorvantMember
Christe BrewtonMember
Delisha BoydMember
Ed RobinsonMember
Greg RavyMember
Jade ColinMember
John MetzlerMember
Lisa ForetMember
Preston FavoriteMember
Robert Royal JrMember
Theo Sanders IiiMember
Windi BrownMember
Shannon B JosephMemeber
Tara MillerSecretary
Shawanda PoreeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$288,000
Program Service Revenue
$19,578
Investment Income
$0
Other Revenue
$26,936
All Other Contributions
$5,115
Change in Net Assets
$105,243
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$132,280
Other Expenses$96,991
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$69,234$14,016$0$83,250
All Other Expenses$41,000$19,461$0$60,461
Other Salaries and Wages$29,600$9,483$0$39,083
Other Expenses$14,219$0$0$14,219
Fees for Services Accounting$0$12,375$0$12,375
Payroll Taxes$6,990$2,957$0$9,947
Office Expenses$0$3,672$0$3,672
Insurance$0$3,369$0$3,369
Advertising$0$1,918$0$1,918
Conferences and Meetings$0$952$0$952
Fees for Services Legal$0$25$0$25
Total Functional Expenses$161,043$68,228$0$229,271
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
Yes
Audit committee
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
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Algiers Economic Development Foundation
EIN
72-1275640
Phone
5043626436
Address
2401 WESTBEND PKWY, NEW ORLEANS, LA 70114

Signing Officer

Name
Kelsey Foster
Title
Executive Director
Phone
5043626436
Signed
2021-05-17
Discuss with paid preparer
Yes

Organization Details

Formed
1992
Legal Domicile
La
Voting Board Members
19
Independent Board Members
19
Employees
2
Volunteers
100

Preparer

Firm
Carriere & Dunn Tax and Accounting Services
Address
2014 Saint Claude Avenue, New Orleans, LA 70116
Preparer
Leo D Dunn Jr
Phone
5049493095
Supplemental Narrative

Additional Explanations

Pt VI, Line 15A

“Board of directors approve compensation to executive director.”

Pt VI, Line 11B

“Board od directors received a copy of the tax return for review prior to issuance.”

Pt VI, Line 15B

“Board of directors approved compensation to key employees.”

Form 990, Part IX, Line 24E

“Rent expense 9812. 0. 9812. 0.”

Form 990, Part IX, Line 24E

“Repairs and maintenance 330. 0. 330. 0.”

Form 990, Part IX, Line 24E

“Bank service charges 158. 0. 158. 0.”

Form 990, Part IX, Line 24E

“Credit card fees 337. 0. 337. 0.”

Form 990, Part IX, Line 24E

“Dues memberships 15. 0. 15. 0.”

Form 990, Part IX, Line 24E

“Meal & entertainment 197. 0. 197. 0.”

Form 990, Part IX, Line 24E

“Telephone expense 1895. 0. 1895. 0.”

Form 990, Part IX, Line 24E

“Professional fees 1057. 0. 1057. 0.”

Form 990, Part IX, Line 24E

“Dues and subscription 1154. 0. 1154. 0.”

Form 990, Part IX, Line 24E

“Contract services 38269. 35000. 3269. 0.”

Form 990, Part IX, Line 24E

“Stipends 6000. 6000. 0. 0.”

Form 990, Part IX, Line 24E

“POSTAGE 768. 0. 768. 0.”

Form 990, Part IX, Line 24E

“Admin fee 469. 0. 469. 0.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt13SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt14EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18MEMBER
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD OF DIRECTORS APPROVE COMPENSATION TO EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD OD DIRECTORS RECEIVED A COPY OF THE TAX RETURN FOR REVIEW PRIOR TO ISSUANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD OF DIRECTORS APPROVED COMPENSATION TO KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3RENT EXPENSE 9812. 0. 9812. 0.

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$174,976
Liabilities
$31,801
Net assets
$143,175
Revenue
$334,514
Expenses
$229,271
Net income
$105,243
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.40$0.32$1.08$3.19$3.08$0.11
2024Detailed filing. Detailed filing data is available for this year.$1.01$0.04$0.98$2.56$2.45$0.11
2023Detailed filing. Detailed filing data is available for this year.$0.90$0.03$0.87$2.77$3.74$0.97
2022Detailed filing. Detailed filing data is available for this year.$1.87$0.04$1.84$2.95$2.55$0.41
2021Detailed filing. Detailed filing data is available for this year.$1.75$0.32$1.43$3.35$2.29$1.05
2020Detailed filing. Detailed filing data is available for this year.$0.46$0.29$0.17$1.27$1.58$0.31
2019Detailed filing. Detailed filing data is available for this year.$0.51$0.04$0.48$1.60$1.56$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.49$0.05$0.44$1.55$1.55$0.00
2017Summary only. Only limited summary data is available for this year.$0.49$0.05$0.45$1.76$1.65$0.11
2015Summary only. Only limited summary data is available for this year.$0.66$0.08$0.57$1.91$1.93$0.03
2014Summary only. Only limited summary data is available for this year.$0.98$0.38$0.60$1.46$1.96$0.50
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.71$0.61$1.10$2.30
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.04$0.54$1.51$3.39
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.68$0.28$2.40$2.72