Civic Intelligence

Algiers Economic Development Foundation Inc.

990 • Fiscal year 2023 • EIN 72-1275640

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 30, 2024

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

74th percentile

0.04x

Higher debt load relative to assets than 74% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

68th percentile

0.01x

Higher debt load relative to revenue than 68% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

13th percentile

-35%

Higher net margin than 13% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

96th percentile

$71,000

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 25.6% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

10th percentile

-52%

Faster asset growth than 10% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

37th percentile

-6.3%

Faster revenue growth than 37% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$90,288

Down $97,126 (-52%) from 2022

Net Assets

Down

$87,009

Down $96,864 (-53%) from 2022

Liabilities

Down

$3,279

Down $262 (-7.4%) from 2022

Revenue

Down

$276,831

Down $18,619 (-6.3%) from 2022

Expenses

Up

$373,695

Up $118,943 (+47%) from 2022

Net Income

Down

-$96,864

Down $137,562 (-338%) from 2022

Historical Trend

Balance Sheet Trend

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

2023

Assets$90,288
Liabilities$3,279
Net Assets$87,009

Operations Trend

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

2023

Revenue$276,831
Expenses$373,695
Net Income-$96,864
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 30, 2024
Return Version
2022v5.0
Gross Receipts
$276,831
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
Accounts Receivable$55,503$57,961▲ $2,458
Cash and Non-Interest-Bearing Accounts$130,298$26,305▼ $103,993
Land, Buildings, and Equipment, Net$0$5,009▲ $5,009
Total Assets$187,414$90,288▼ $97,126
Other Assets Total$1,613$1,013▼ $600
Liabilities
Accounts Payable and Accrued Expenses$3,541$3,279▼ $262
Unsecured Notes Loans Payable$0--
Total Liabilities$3,541$3,279▼ $262
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$81,100$84,061▲ $2,961
Net Assets With Donor Restrictions$102,773$2,948▼ $99,825
Total Net Assets Fund Balance$183,873$87,009▼ $96,864
Total Liabilities and Net Assets / Fund Balance$187,414$90,288▼ $97,126

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$9,418$9,418
Other Land Buildings$5,009$203$5,212
Land$0--
Compensation and Service Providers

Employees

NameTitleBaseTotal
Kelsey FosterExecutive Director$71,000$71,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$233,910
Program Service Revenue
$42,921
Investment Income
$0
Other Revenue
$0
All Other Contributions
$19,309
Change in Net Assets
$-96,864
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$235,873
Salaries, Compensation, and Employee Benefits$137,822
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$64,131$19,061$0$83,192
Current Officers, Directors, Trustees, and Key Employees$61,000$10,000$0$71,000
Other Salaries and Wages$41,400$12,600$0$54,000
Fees for Services Accounting$13,675$0$0$13,675
Payroll Taxes$10,858$1,964$0$12,822
Insurance$0$4,579$0$4,579
Information Technology$0$2,230$0$2,230
Conferences and Meetings$0$2,074$0$2,074
Office Expenses$0$1,318$0$1,318
Advertising$0$698$0$698
Other Expenses$0$463$0$463
Depreciation Depletion$0$203$0$203
Total Functional Expenses$314,782$58,913$0$373,695
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
2024-01-30
Discuss with paid preparer
Yes

Organization Details

Formed
1992
Legal Domicile
La
Voting Board Members
15
Independent Board Members
15
Employees
2
Volunteers
5

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 8877. 0. 8877. 0.

Form 990, Part IX, Line 24E

Cost of goods 1550. 0. 1550. 0.

Form 990, Part IX, Line 24E

Scholarships 13038. 13038. 0. 0.

Form 990, Part IX, Line 24E

Bank service charges 306. 0. 306. 0.

Form 990, Part IX, Line 24E

Credit card fees 1299. 0. 1299. 0.

Form 990, Part IX, Line 24E

Dues memberships 138. 0. 138. 0.

Form 990, Part IX, Line 24E

Meal & entertainment 878. 0. 878. 0.

Form 990, Part IX, Line 24E

Telephone expense 1829. 0. 1829. 0.

Form 990, Part IX, Line 24E

Printing and reproduction 1027. 0. 1027. 0.

Form 990, Part IX, Line 24E

Awards and gifts 16093. 16093. 0. 0.

Form 990, Part IX, Line 24E

Contract services 35000. 35000. 0. 0.

Form 990, Part IX, Line 24E

POSTAGE 210. 0. 210. 0.

Form 990, Part IX, Line 24E

Professional services 2947. 0. 2947. 0.

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IRS990/NetAssetsOrFundBalancesEOYAmt087009
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt081100
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt084061
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/FundraisingAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01318
IRS990/OfficeExpensesGrp/ProgramServicesAmt00
IRS990/OfficeExpensesGrp/TotalAmt01318
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01613
IRS990/OtherAssetsTotalGrp/EOYAmt01013
IRS990/OtherExpensesGrp/Desc0PROGRAM EXPENSES
IRS990/OtherExpensesGrp/Desc1MINOR EQUIPMENT
IRS990/OtherExpensesGrp/Desc2SPONSORSHIP
IRS990/OtherExpensesGrp/Desc3BOOKS, SUBSCRIPTIONS, REFERENCE
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0560
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13163
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt20
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3463
IRS990/OtherExpensesGrp/ProgramServicesAmt0121218
IRS990/OtherExpensesGrp/ProgramServicesAmt10
IRS990/OtherExpensesGrp/ProgramServicesAmt22500
IRS990/OtherExpensesGrp/ProgramServicesAmt30
IRS990/OtherExpensesGrp/TotalAmt0121778
IRS990/OtherExpensesGrp/TotalAmt13163
IRS990/OtherExpensesGrp/TotalAmt22500
IRS990/OtherExpensesGrp/TotalAmt3463
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt012600
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt041400
IRS990/OtherSalariesAndWagesGrp/TotalAmt054000
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01964
IRS990/PayrollTaxesGrp/ProgramServicesAmt010858
IRS990/PayrollTaxesGrp/TotalAmt012822
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0KELSEY FOSTER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0999999
IRS990/ProgramServiceRevenueGrp/BusinessCd1999999
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM INCOME
IRS990/ProgramServiceRevenueGrp/Desc1SPONSORSHIPS
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt025961
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt116960
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0227482
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt0113909
IRS990/PYOtherRevenueAmt023996
IRS990/PYProgramServiceRevenueAmt043972
IRS990/PYRevenuesLessExpensesAmt040698
IRS990/PYSalariesCompEmpBnftPaidAmt0140843
IRS990/PYTotalExpensesAmt0254752
IRS990/PYTotalRevenueAmt0295450
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-96864
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Other Income Part III, Line 12
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Pt III Ln 12
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0276831
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0271454
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0307578
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0126555
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0159866
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01142284
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt023996
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt026936
IRS990ScheduleA/OtherIncome509Grp/TotalAmt050932
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00.95730
IRS990ScheduleA/PublicSupportPY509Pct00.95250
IRS990ScheduleA/PublicSupportTotal509Amt01142284
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0276831
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0271454
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0307578
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0126555
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0159866
IRS990ScheduleA/Total509Grp/TotalAmt01142284
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01193216
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09418
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt09418
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt05009
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0203
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05212
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05009
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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 8877. 0. 8877. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COST OF GOODS 1550. 0. 1550. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SCHOLARSHIPS 13038. 13038. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BANK SERVICE CHARGES 306. 0. 306. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CREDIT CARD FEES 1299. 0. 1299. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8DUES MEMBERSHIPS 138. 0. 138. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9MEAL & ENTERTAINMENT 878. 0. 878. 0.

Document Assets

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Filings

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