Overview
What is South Louisiana Economic Council?
The South Louisiana Economic Council (SLEC) is a 501(c)(3) nonprofit organization, specifically dedicated to fostering economic growth in Assumption Parish. As an economic development agency, SLEC's primary mission is to strengthen the regional economy within its jurisdiction. Established with the intent to promote development, the council plays a crucial role in supporting Assumption Parish's economic well-being.
Official website here: www.bayouregion.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%, Four-Star out of Four Stars
The South Louisiana Economic Council has achieved a strong Four-Star rating, reflecting a high level of accountability and financial management. With a score of 92% in the Accountability & Finance category, the organization demonstrates effective oversight, as evidenced by its entirely independent board and robust financial practices. The council has maintained excellent ratings across several key metrics, including a program expense ratio of 85.62%, indicating a substantial portion of its budget is dedicated to programs rather than administrative costs.
The council’s commitment to transparency is shown through its comprehensive policies, including a conflict of interest policy and proper documentation practices for board meetings. The absence of a whistleblower policy, however, is a noted limitation in their governance practices, which could impact overall accountability. Despite this gap, the organization has effectively managed its financial liabilities, with a low liabilities-to-assets ratio of 16.27%.
Overall, the South Louisiana Economic Council exemplifies strong governance and financial health, making it a trustworthy option for donors interested in supporting economic development initiatives in the region. The organization has a solid framework in place to ensure accountability, though addressing the missing whistleblower policy could further enhance its governance standards.
This AI summary has been generated from information found on Charity Navigator.
Is South Louisiana Economic Council legitimate?
South Louisiana Economic Council is a legitimate nonprofit organization registered as a 501(c)(3) entity. South Louisiana Economic Council 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: $245,155
For more financial information, click here
Official website here: www.bayouregion.com
What is the mission statement of South Louisiana Economic Council?
The South Louisiana Economic Council (SLEC), being a 501(3)(c) not-for-profit organization, is dedicated to promoting economic development in the region. Established to support parishes in Assumption, SLEC's mission is to enhance the regional economy. While the provided information does not detail specific objectives or methods, it is evident that SLEC aims to contribute positively to the economic growth and development of the assigned area.
Official website here: www.bayouregion.com
Who is the CEO of South Louisiana Economic Council?
Dr Ken Rachal is the Secretary/Tr of South Louisiana Economic Council.
Official website here: www.bayouregion.com
What is the revenue of South Louisiana Economic Council?
South Louisiana Economic Council's revenue in 2022 was $877,153.
Official website here: www.bayouregion.com
Who are the executives of South Louisiana Economic Council and what are their salaries?
The average compensation at South Louisiana Economic Council during 2022 was $22,287. There are 11 employees at South Louisiana Economic Council.
Here are 7 key members and their salaries:
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Official website here: www.bayouregion.com
Where can I find the form 990 for South Louisiana Economic Council?
South Louisiana Economic Council's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bayouregion.com
Learn more at the official website: www.bayouregion.com
Mission Statement of South Louisiana Economic Council
The South Louisiana Economic Council (SLEC) is a non-profit organization, recognized under section 501(c)(3), dedicated to promoting economic growth in the Assumption parishes. Established with the purpose of fostering regional development, SLEC plays a pivotal role in supporting economic progress within its designated area.
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Impact
July, 2024
The South Louisiana Economic Council has had a significant impact on the economic development of the Assumption parish in Louisiana. Through its efforts, SLEC has helped to attract and retain businesses, create job opportunities, and promote overall economic growth in the region. Their mission to support regional economic development has resulted in tangible benefits for the local community, including increased investment, infrastructure improvements, and a more robust business climate. Overall, the South Louisiana Economic Council plays a crucial role in driving economic prosperity and sustainability in the Assumption parish.
This information is meant to be a general summary of South Louisiana Economic Council. 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: $54
- Gross Receipts: $877,153
Assets and Liabilities:
- Total Assets: $487,426
- Total Liabilities: $209,770
- Net Assets: $277,656
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Organization Details
Founding Year
1984
Phone
(985) 448-4485Principal Officer
Dr Ken Rachal
Main Address
322 AUDUBON AVE, THIBODAUX, LA, 70301
Website
www.bayouregion.comIf you are a representative of South Louisiana Economic Council and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.