Overview
What is Nola Business Alliance?
Nola Business Alliance is a nonprofit organization, tasked by the City of New Orleans, to spearhead the economic recovery and development in Orleans Parish. Their primary objective is to increase the job market and attract private investment within the region, by enticing corporations to relocate, retaining existing businesses, and promoting retail growth. They achieve this by fostering transparency and lowering market entry barriers. Additionally, they have launched a pilot program to support disinvestment communities in Orleans Parish, focusing on business and commercial corridors in seven neighborhoods. The Youth Demonstration Project is another initiative that prepares and connects individuals aged 16-24 to high-wage employment opportunities in expanding industries. Nola Business Alliance also collaborates with multi-agency groups and community stakeholders to develop investment strategies in the burgeoning blue-green infrastructure industry, contributing to the overall development of Orleans Parish.
Official website here: www.nolaba.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%, Four-Star out of Four Star rating
The Nola Business Alliance has achieved an impressive Four-Star rating from Charity Navigator, reflecting an exceptional score of 97%. This rating is based entirely on the organization's Accountability & Finance score, which indicates a high level of transparency and effective financial practices. The nonprofit demonstrates strong governance with a fully independent board and comprehensive oversight mechanisms, contributing to its commendable standing.
Notable strengths include a perfect score in various accountability metrics, such as the absence of asset diversion and a robust conflict of interest policy. The organization also excels in financial management, with a high program expense ratio of 81.70%, which suggests that a significant portion of its funds is directed towards its mission rather than administrative costs. Additionally, its fundraising efficiency is remarkable, with only $0.06 spent to raise each dollar, signifying effective resource utilization.
While the ratings highlight many organizational strengths, it is essential to consider that the score is primarily focused on accountability and financial metrics. There may be other qualitative aspects, such as community impact and stakeholder engagement, that are not captured in this rating. However, the Nola Business Alliance's strong performance in financial accountability makes it a trustworthy choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Nola Business Alliance?
The Nola Business Alliance has begun to gather attention, with initial reviewers expressing positivity about its mission and efforts. The comments highlight a dedicated and knowledgeable team that is actively working to create diverse opportunities and strengthen the local economy. Supporters of the organization appreciate the groundwork being laid for future initiatives.
The sentiment conveyed by the early reviews is encouraging, with one user affirming their support and anticipation for the Alliance's continued impact. This suggests a belief in the organization's potential to make a meaningful difference in the community. Overall, there is a notable optimism regarding the future contributions of Nola Business Alliance based on the feedback received thus far.
This AI summary has been generated from reviews found on Facebook.
Is Nola Business Alliance legitimate?
Nola Business Alliance is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nola Business Alliance submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,885,436
For more financial information, click here
Official website here: www.nolaba.org
What is the mission statement of Nola Business Alliance?
The Nola Business Alliance, assigned by the city of New Orleans, is dedicated to driving economic recovery and development in Orleans Parish. Their primary objective is to expand the job market and secure private investment by attracting corporations for relocation, supporting the retention of existing businesses, and fostering growth within existing businesses. Additionally, the organization works on promoting retail expansion. They achieve these goals by establishing transparency and reducing market entry barriers.
Official website here: www.nolaba.org
Who is the CEO of Nola Business Alliance?
Louis David is the President/Ce of Nola Business Alliance.
Official website here: www.nolaba.org
What is the revenue of Nola Business Alliance?
Nola Business Alliance's revenue in 2022 was $4,026,850.
Official website here: www.nolaba.org
Who are the executives of Nola Business Alliance and what are their salaries?
The average compensation at Nola Business Alliance during 2022 was $72,517. There are 26 employees at Nola Business Alliance.
Here are 19 key members and their salaries:
- Compensation: $261,969
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Official website here: www.nolaba.org
Where can I find the form 990 for Nola Business Alliance?
Nola Business Alliance's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nolaba.org
Learn more at the official website: www.nolaba.org
Mission Statement of Nola Business Alliance
Nola Business Alliance, as charged by the city of New Orleans, is dedicated to spearheading the economic recovery and development of Orleans Parish. Their primary focus is to expand the job market and secure private investment within the parish. They achieve this objective by attracting corporations for relocation, supporting the retention and expansion of existing businesses, and fostering retail growth. Nola Business Alliance accomplishes this mission by promoting transparency and reducing the barriers to market entry. Their strategic approach aims to stimulate economic growth and development in Orleans Parish.
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Impact
October, 2024
Nola Business Alliance plays a vital role in the economic recovery and development of Orleans Parish by focusing on job creation and securing private investment. They attract corporations looking to relocate, support the growth of existing businesses, and drive retail expansion. By promoting transparency and reducing barriers to market entry, they create a more hospitable environment for business development.
Their strategic neighborhood development initiatives, such as the pilot program, specifically aim to revitalize disinvested communities and enhance commercial corridors across seven neighborhoods in Orleans Parish. Additionally, the Youth Demonstration Project connects young individuals aged 16 to 24 with quality employment opportunities in high-wage, demand-driven industries, thereby fostering a skilled workforce.
The Advancing Cities Program collaborates with multiple agencies and community stakeholders to develop innovative investment strategies in the emerging blue-green infrastructure sector. Overall, Nola Business Alliance significantly impacts the local economy by enhancing community vitality, supporting workforce development, and fostering sustainable business growth.
This information is meant to be a general summary of Nola Business Alliance. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $4,895
- Program Service Revenue: $92,050
- Gross Receipts: $4,026,850
Assets and Liabilities:
- Total Assets: $4,394,444
- Total Liabilities: $502,100
- Net Assets: $3,892,344
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE
Revenue
$92,050
Organization Details
Founding Year
2010
Phone
(504) 934-4500Principal Officer
Louis David
Main Address
1250 POYDRAS STREET SUITE 2150, NEW ORLEANS, LA, 70113
Website
www.nolaba.orgNTEE Category
Code: S20 - Community improvement
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