Civic Intelligence

Downtown Development Unlimited Inc.

990 • Fiscal year 2023 • EIN 72-1470971

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 19, 2024

Organization Profilewww.nolaunlimited.org
201 Saint Charles Ave Suite 3912New Orleans, LA 70170

(504) 561-8927

Siviq Scores

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

Liabilities / Assets

65th percentile

0.22x

Higher debt load relative to assets than 65% of similar nonprofits.

2023 filings • NTEE S • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

68th percentile

0.22x

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

2023 filings • NTEE S • $500k-$1M nonprofits • Source year 2023

Net Margin

96th percentile

78%

Higher net margin than 96% of similar nonprofits.

2023 filings • NTEE S • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

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

2023 filings • NTEE S • $500k-$1M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Balance Sheet
Liabilities / Assets65th percentile

Assets

$503,863

No earlier filing loaded for comparison.

Net Assets

$394,081

No earlier filing loaded for comparison.

Liabilities

$109,782

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin96th percentile

Revenue

$500,000

No earlier filing loaded for comparison.

Expenses

$109,831

No earlier filing loaded for comparison.

Net Income

$390,169

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$800K$600K$400K$200K$0Assets 2023: $503,863Liabilities 2023: $109,782Net Assets 2023: $394,0812023Assets 2024: $639,660Liabilities 2024: $185,082Net Assets 2024: $454,5782024

Highlighted filing

2023

Assets$503,863
Liabilities$109,782
Net Assets$394,081
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$600K$400K$200K$0Revenue 2023: $500,000Expenses 2023: $109,831Net Income 2023: $390,1692023Revenue 2024: $135,797Expenses 2024: $75,300Net Income 2024: $60,4972024

Highlighted filing

2023

Revenue$500,000
Expenses$109,831
Net Income$390,169
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 19, 2024
Return Version
2023v5.0
Gross Receipts
$500,000
Mission and Program Overview

Mission

Downtown Development Unlimited is a non-profit organization established to promote a progressive and dynamic central downtown and to preserve and expand central downtown as a regional business shopping area.

At Downtown Development Unlimited, Inc. (DDU), our mission is to support the Downtown Development District of New Orleans (DDD) and its efforts to provide advocacy and public space and economic development services to Downtown

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$3,911$503,863▲ $499,952
Total Assets$3,911$503,863▲ $499,952
Liabilities
Accounts Payable and Accrued Expenses$0$109,782▲ $109,782
Other Liabilities-$0-
Total Liabilities$0$109,782▲ $109,782
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$394,081▲ $394,081
Net Assets Without Donor Restrictions$3,911$0▼ $3,911
Total Net Assets Fund Balance$3,911$394,081▲ $390,170
Total Liabilities and Net Assets / Fund Balance$3,911$503,863▲ $499,952
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
Gregory CurtisChair
Carla MajorVice-Chair
Kristi TaglauerSecretary
Chris RossTreasure
Revenue and Support

Revenue Composition

Contributions and Grants
$500,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$390,169

Audited Revenue Reconciliation

Revenue per Audited Statements
$500,000
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$500,000
Total Revenue per Form 990
$500,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$109,831
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$47,768--$47,768
Other Expenses$9,000$0$0$9,000
All Other Expenses$48--$48
Total Functional Expenses$109,831$0$0$109,831

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$109,831
Total Expenses per Audited Statements$109,831
Total Expenses per Form 990$109,831
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Members of the Organization: Carla Major, Gregory Curtis, Chris Ross, Kristi Taglaurea”

Form 990, Part VI, Section A, Line 7A

“All decisions of the organization are subject to approval by members of the Board.”

Form 990, Part VI, Section B, Line 11B

“Each Member of the Board received a copy and reviewed and accepted the audited information for Bruno and Tervelon Auditing Firm.”

Form 990, Part VI, Section C, Line 19

“All governing documents are available upon request and issued during the semi-annual meetings and posted to the Louisiana Legislative Auditors Website annually.”

Filing and Contact Details

Filer

Filer Name
Downtown Development Unlimited
EIN
72-1470971
Phone
5045618927
Address
201 Saint Charles Ave Suite 3912, New Orleans, LA 70170

Signing Officer

Name
Bianka Brown
Title
CFO
Phone
5045618927
Signed
2024-07-19

Organization Details

Principal Officer
Gregory Curtis
Formed
2000
Legal Domicile
La
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
30
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Rounding Error”

Financial Statement Notes

Schedule D, Part X, Line 2

“The Downtown Development Unlimited (DDU), a 501(c)(3) non-profit corporation without capital stock is blended with the District for financial statement purposes because the component unit exclusively serves the District. The financial statements of this blended component unit may be obtained from the District's office. This corporation was organized for and to cany on the following purposes: To establish a permanent promotional program pointed towards a progressive and dynamic central Downtown New Orleans; to preserve and expand central downtown New Orleans as a regional business and shopping area for the general benefit of the metropolitan area of New Orleans, and its surrounding markets; to cooperate with all members of the corporation through group action on common problems, and to cooperate with the City Council of the City of New Orleans, other governmental bodies, civic organizations, and other interested groups or individuals, in solving the civic, business and commercial problems of the City of New Orleans, to alleviate parking problems and other problems resulting from congestion; to improve the appearance of the central downtown area; and generally to promote, aid and assist in developing a better central downtown New Orleans for the use and benefit of everyone.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Downtown Development Unlimited (DDU), a 501(c)(3) non-profit corporation without capital stock is blended with the District for financial statement purposes because the component unit exclusively serves the District. The financial statements of this blended component unit may be obtained from the District's office. This corporation was organized for and to cany on the following purposes: To establish a permanent promotional program pointed towards a progressive and dynamic central Downtown New Orleans; to preserve and expand central downtown New Orleans as a regional business and shopping area for the general benefit of the metropolitan area of New Orleans, and its surrounding markets; to cooperate with all members of the corporation through group action on common problems, and to cooperate with the City Council of the City of New Orleans, other governmental bodies, civic organizations, and other interested groups or individuals, in solving the civic, business and commercial problems of the City of New Orleans, to alleviate parking problems and other problems resulting from congestion; to improve the appearance of the central downtown area; and generally to promote, aid and assist in developing a better central downtown New Orleans for the use and benefit of everyone.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All decisions of the organization are subject to approval by members of the Board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Each Member of the Board received a copy and reviewed and accepted the audited information for Bruno and Tervelon Auditing Firm.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All governing documents are available upon request and issued during the semi-annual meetings and posted to the Louisiana Legislative Auditors Website annually.
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0500000
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03911
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0503863
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0201 Saint Charles Ave STE 3912
IRS990/USAddress/CityNm0New Orleans
IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd070170
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0https://www.nolaunlimited.org/
IRS990/WhistleblowerPolicyInd00
ReasonableCauseExplanation/ExplanationTxt0I hereby acknowledge the late filing of the return by the Downtown Development District Unlimited, attributed to a change in leadership resulting in substantial delays in fulfilling major reporting requirements. It is imperative to note that the Agency has implemented significant changes to ensure compliance with deadline requirements for future 990 submissions. Downtown Development Unlimited humbly requests leniency for the tardiness of this 990 submission.
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Bianka Brown
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum05045618927
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Downtown Development Unlimited
ReturnHeader/Filer/BusinessNameControlTxt0DOWN
ReturnHeader/Filer/EIN0721470971
ReturnHeader/Filer/PhoneNum05045618927
ReturnHeader/Filer/USAddress/AddressLine1Txt0201 Saint Charles Ave Suite 3912
ReturnHeader/Filer/USAddress/CityNm0New Orleans
ReturnHeader/Filer/USAddress/StateAbbreviationCd0LA
ReturnHeader/Filer/USAddress/ZIPCd070170
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/ReturnTs02024-07-31T13:58:23-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$503,863
Liabilities
$109,782
Net assets
$394,081
Revenue
$500,000
Expenses
$109,831
Net income
$390,169
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.40$1.85$4.55$1.36$0.75$0.60
2023Detailed filing. Detailed filing data is available for this year.$5.04$1.10$3.94$5.00$1.10$3.90