Civic Intelligence

Felicity Street Redevelopment Inc.

990 • Fiscal year 2019 • EIN 72-1421721

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

Organization ProfileFELICITYREDEVELOPMENT.ORG
1139 Oretha C Haley BlvdNew Orleans, LA 70113

(504) 581-3701

Siviq Scores

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

Liabilities / Assets

61st percentile

0.08x

Higher debt load relative to assets than 61% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

87th percentile

0.58x

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

85th percentile

32%

Higher net margin than 85% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

69th percentile

13%

Faster asset growth than 69% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

2nd percentile

-75%

Faster revenue growth than 2% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$593,481

Up $66,870 (+13%) from 2018

Net Assets

Up

$548,264

Up $25,153 (+4.8%) from 2018

Liabilities

Up

$45,217

Up $41,717 (+1192%) from 2018

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin85th percentile

Revenue

Down

$78,325

Down $240,604 (-75%) from 2018

Expenses

Down

$53,172

Down $101,806 (-66%) from 2018

Net Income

Down

$25,153

Down $138,798 (-85%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth69th percentile

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

$1.5M$1.0M$500K$0Assets 2010: $794,745Liabilities 2010: $256,032Net Assets 2010: $538,7132010Assets 2011: $635,666Liabilities 2011: $303,021Net Assets 2011: $332,6452011Assets 2012: $583,329Liabilities 2012: $258,030Net Assets 2012: $325,2992012Assets 2013: $335,158Liabilities 2013: $14,857Net Assets 2013: $320,3012013Assets 2014: $386,675Liabilities 2014: $10,825Net Assets 2014: $375,8502014Assets 2015: $447,500Liabilities 2015: $55,472Net Assets 2015: $392,0282015Assets 2016: $447,778Liabilities 2016: $62,561Net Assets 2016: $385,2172016Assets 2017: $432,998Liabilities 2017: $73,838Net Assets 2017: $359,1602017Assets 2018: $526,611Liabilities 2018: $3,500Net Assets 2018: $523,1112018Assets 2019: $593,481Liabilities 2019: $45,217Net Assets 2019: $548,2642019Assets 2020: $524,398Liabilities 2020: $3,844Net Assets 2020: $520,5542020Assets 2021: $1,338,681Liabilities 2021: $127,094Net Assets 2021: $1,211,5872021Assets 2022: $1,138,961Liabilities 2022: $4,439Net Assets 2022: $1,134,5222022Assets 2023: $1,113,606Liabilities 2023: $2,125Net Assets 2023: $1,111,4812023Assets 2024: $908,394Liabilities 2024: $0Net Assets 2024: $908,3942024

Highlighted filing

2019

Assets$593,481
Liabilities$45,217
Net Assets$548,264
Open 2019 Filing

Operations Trend

Revenue Growth2nd percentile

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

$1.0M$500K$0-$500KRevenue 2010: $37,820Expenses 2010: $43,418Net Income 2010: -$5,5982010Revenue 2011: $47,267Expenses 2011: $36,260Net Income 2011: $11,0072011Revenue 2012: $56,761Expenses 2012: $64,107Net Income 2012: -$7,3462012Revenue 2013: $78,826Expenses 2013: $77,771Net Income 2013: $1,0552013Revenue 2014: $134,205Expenses 2014: $78,656Net Income 2014: $55,5492014Revenue 2015: $104,468Expenses 2015: $88,290Net Income 2015: $16,1782015Revenue 2016: $74,709Expenses 2016: $81,520Net Income 2016: -$6,8112016Revenue 2017: $47,962Expenses 2017: $74,019Net Income 2017: -$26,0572017Revenue 2018: $318,929Expenses 2018: $154,978Net Income 2018: $163,9512018Revenue 2019: $78,325Expenses 2019: $53,172Net Income 2019: $25,1532019Revenue 2020: $6,249Expenses 2020: $33,959Net Income 2020: -$27,7102020Revenue 2021: $800,690Expenses 2021: $109,657Net Income 2021: $691,0332021Revenue 2022: $1,380Expenses 2022: $80,400Net Income 2022: -$79,0202022Revenue 2023: $15,663Expenses 2023: $38,704Net Income 2023: -$23,0412023Revenue 2024: $13,815Expenses 2024: $216,902Net Income 2024: -$203,0872024

Highlighted filing

2019

Revenue$78,325
Expenses$53,172
Net Income$25,153
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$298,181
Mission and Program Overview

Mission

This project was created to revitalize thirty nine blocks of new orleans' central city national historic district. Continued on schedule o

To revitalize, by preserving and renovating a portion of the central city of new orleans

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$276,093$306,506▲ $30,413
Cash and Non-Interest-Bearing Accounts$210,518$261,975▲ $51,457
Other Notes and Loans Receivable, Net$40,000$25,000▼ $15,000
Total Assets$526,611$593,481▲ $66,870
Liabilities
Unsecured Notes Loans Payable-$41,717-
Other Liabilities$3,500$3,500→ $0
Total Liabilities$3,500$45,217▲ $41,717
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$523,111$548,264▲ $25,153
Total Net Assets Fund Balance$523,111$548,264▲ $25,153
Total Liabilities and Net Assets / Fund Balance$526,611$593,481▲ $66,870

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$213,532$32,321$245,853
Land$92,974-$92,974
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Cole HalpernPresident
Camille StrachanVice President
Michael RouchellDirector
Ouida LaudumieyDirector
Paula GeorgeDirector
Raul VasquezDirector
Colleen LusignanSecretary
Patrick MckennaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$11,682
Program Service Revenue
$0
Investment Income
$47,718
Other Revenue
$18,925
All Other Contributions
$4,582
Change in Net Assets
$25,153
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$53,172
Total Fundraising Expense$2,430
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$2,879$739$1,027$4,645
Occupancy-$4,016-$4,016
Fees for Services Legal$3,210--$3,210
Insurance$2,934--$2,934
Fees for Services Accounting-$2,831-$2,831
Office Expenses$1,702$412$464$2,578
Interest$1,602--$1,602
Fees for Services Other$1,295--$1,295
Advertising--$699$699
Other Expenses$592--$592
Information Technology--$240$240
Total Functional Expenses$42,744$7,998$2,430$53,172
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$5,059
Fundraising Gross Income$0
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
Tenant Deposits$3,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“We will provide a copy of the 2019 form 990 to each board member before it is filed.”

Form 990, Part VI, Section C, Line 19

“These documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Felicity Redevelopment Inc
EIN
72-1421721
Phone
5045813701
Address
1139 ORETHA C HALEY BLVD, NEW ORLEANS, LA 70113

Signing Officer

Name
Cole Halpern
Title
President
Phone
5045813701
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cole Halpern
Formed
1998
Legal Domicile
La
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
50

Preparer

Firm
The Poole Group Cpas LLC
Address
711 AURORA AVENUE, METAIRIE, LA 70005
Preparer
Mary E Poole
Phone
5048281259
Supplemental Narrative

Additional Explanations

Part III, Question 1 - Statement of Program Service Accomplishments

“The organization plans to achieve this goal by building upon the existing assets of this historic neighborhood; by preserving and renovating the remaining 19th century buildings; by attracting new homeowners and small scale commercial enterprises to the area; and by working with current residents and property owners to reinforce and improve the residential quality of the neighborhood. Its main source of funding is through contributions and donations from interested and concerned citizens. Work is done daily with residents and business people to maintain a vibrant and sustainable neighborhood in this central city area through the formulation of a master plan for revitalization. The organization will operate a revolving fund for the purchase of endangered housing stock; it acquires blighted houses and returns them to productive use; it provides resources for renovation of neglected properties to homeowners and residents; and it helps potential homeowners locate property in the neighborhood. As part of the efforts to revitalize this area, felicity redevelopment inc. Has secured the designation of this historic neighborhood as an official project of save america's treasures. Save america's treasures is a national effort focused on protecting america's threatened cultural treasures. It is dedicated to the celebration and preservation of america's priceless historic legacy and works to recognize and rescue the enduring symbols of american tradition that define us as a nation.”

Raw XML Appendix399 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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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt094319
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt099202
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt076788
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt032321
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0245853
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IRS990ScheduleD/TotalLiabilityAmt03500
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PLANS TO ACHIEVE THIS GOAL BY BUILDING UPON THE EXISTING ASSETS OF THIS HISTORIC NEIGHBORHOOD; BY PRESERVING AND RENOVATING THE REMAINING 19TH CENTURY BUILDINGS; BY ATTRACTING NEW HOMEOWNERS AND SMALL SCALE COMMERCIAL ENTERPRISES TO THE AREA; AND BY WORKING WITH CURRENT RESIDENTS AND PROPERTY OWNERS TO REINFORCE AND IMPROVE THE RESIDENTIAL QUALITY OF THE NEIGHBORHOOD. ITS MAIN SOURCE OF FUNDING IS THROUGH CONTRIBUTIONS AND DONATIONS FROM INTERESTED AND CONCERNED CITIZENS. WORK IS DONE DAILY WITH RESIDENTS AND BUSINESS PEOPLE TO MAINTAIN A VIBRANT AND SUSTAINABLE NEIGHBORHOOD IN THIS CENTRAL CITY AREA THROUGH THE FORMULATION OF A MASTER PLAN FOR REVITALIZATION. THE ORGANIZATION WILL OPERATE A REVOLVING FUND FOR THE PURCHASE OF ENDANGERED HOUSING STOCK; IT ACQUIRES BLIGHTED HOUSES AND RETURNS THEM TO PRODUCTIVE USE; IT PROVIDES RESOURCES FOR RENOVATION OF NEGLECTED PROPERTIES TO HOMEOWNERS AND RESIDENTS; AND IT HELPS POTENTIAL HOMEOWNERS LOCATE PROPERTY IN THE NEIGHBORHOOD. AS PART OF THE EFFORTS TO REVITALIZE THIS AREA, FELICITY REDEVELOPMENT INC. HAS SECURED THE DESIGNATION OF THIS HISTORIC NEIGHBORHOOD AS AN OFFICIAL PROJECT OF SAVE AMERICA'S TREASURES. SAVE AMERICA'S TREASURES IS A NATIONAL EFFORT FOCUSED ON PROTECTING AMERICA'S THREATENED CULTURAL TREASURES. IT IS DEDICATED TO THE CELEBRATION AND PRESERVATION OF AMERICA'S PRICELESS HISTORIC LEGACY AND WORKS TO RECOGNIZE AND RESCUE THE ENDURING SYMBOLS OF AMERICAN TRADITION THAT DEFINE US AS A NATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WE WILL PROVIDE A COPY OF THE 2019 FORM 990 TO EACH BOARD MEMBER BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THESE DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III, QUESTION 1 - STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07998
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt042744
IRS990/TotalFunctionalExpensesGrp/TotalAmt053172
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IRS990/TotalLiabilitiesGrp/BOYAmt03500
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt078325
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IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt041717
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IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0COLE HALPERN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05045813701
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-13
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ReturnHeader/FilingSecurityInformation/IPDt02020-11-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:23:19
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0454128465
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THE POOLE GROUP CPAS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0711 AURORA AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0METAIRIE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0LA
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ReturnHeader/PreparerPersonGrp/PhoneNum05048281259
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARY E POOLE
ReturnHeader/ReturnTs02020-11-14T12:31:28-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$593,481
Liabilities
$45,217
Net assets
$548,264
Revenue
$78,325
Expenses
$53,172
Net income
$25,153
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.91$0.00$0.91$0.01$0.22$0.20
2023Detailed filing. Detailed filing data is available for this year.$1.11$0.00$1.11$0.02$0.04$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.14$0.00$1.13$0.00$0.08$0.08
2021Detailed filing. Detailed filing data is available for this year.$1.34$0.13$1.21$0.80$0.11$0.69
2020Detailed filing. Detailed filing data is available for this year.$0.52$0.00$0.52$0.01$0.03$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.59$0.05$0.55$0.08$0.05$0.03
2018Detailed filing. Detailed filing data is available for this year.$0.53$0.00$0.52$0.32$0.15$0.16
2017Detailed filing. Detailed filing data is available for this year.$0.43$0.07$0.36$0.05$0.07$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.45$0.06$0.39$0.07$0.08$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.45$0.06$0.39$0.10$0.09$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.39$0.01$0.38$0.13$0.08$0.06
2013Detailed filing. Detailed filing data is available for this year.$0.34$0.01$0.32$0.08$0.08$0.00
2012Summary only. Only limited summary data is available for this year.$0.58$0.26$0.33$0.06$0.06$0.01
2011Summary only. Only limited summary data is available for this year.$0.64$0.30$0.33$0.05$0.04$0.01
2010Summary only. Only limited summary data is available for this year.$0.79$0.26$0.54$0.04$0.04$0.01