Iberia Industrial Development Foundation

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 721027792 ✦ New iberia, LA ✦ Designated as a 501(c)(6)

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Overview

What is Iberia Industrial Development Foundation?

Iberia Industrial Development Foundation is a nonprofit organization situated in New Iberia, Louisiana. Their primary mission is to promote industrial and economic development within Iberia Parish, both for existing businesses and in attracting new industries. They have successfully aided in the establishment and opening of various businesses, such as Mattress Firm, Church Alley Cafe and Bistro, Bambinos Burgers, Cane River Pecans, and The Baits Hotel. These new ventures have resulted in creating over 45 new job opportunities within the parish. The foundation operates with a team of three dedicated individuals.


Official website here: www.iberiabiz.org

Is Iberia Industrial Development Foundation legitimate?

Iberia Industrial Development Foundation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Iberia Industrial Development Foundation 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: $157,460
Professional Fundraising Fees: $0
Other Salaries and Wages: $64,705

For more financial information, click here


Official website here: www.iberiabiz.org

What is the mission statement of Iberia Industrial Development Foundation?

The Iberia Industrial Development Foundation's mission revolves around promoting industrial and economic development. Specifically, their objective is to support existing businesses and attract additional industries to locate within the parish. They achieve this through various means, such as providing retail job and business development services. Notable instances include facilitating the opening of several businesses, like Mattress Firm and Bambinos Burgers, in the parish, which collectively created over 45 new jobs. The foundation has also aided in the development and construction of new businesses, like The Baits Hotel, contributing to the growth and prosperity of the industrial sector.


Official website here: www.iberiabiz.org

Who is the CEO of Iberia Industrial Development Foundation?

Michael Tarantino is the Past Chairperson of Iberia Industrial Development Foundation. The CEO's salary of Iberia Industrial Development Foundation is $149,059 and their total compensation is $166,160.


Official website here: www.iberiabiz.org

What is the revenue of Iberia Industrial Development Foundation?

Iberia Industrial Development Foundation's revenue in 2022 was $417,779.


Official website here: www.iberiabiz.org

Who are the executives of Iberia Industrial Development Foundation and what are their salaries?

The average compensation at Iberia Industrial Development Foundation during 2022 was $74,055. There are 3 employees at Iberia Industrial Development Foundation.


Here are 25 key members and their salaries (Iberia Industrial Development Foundation's CEO's salary is $149,059 and their total compensation is $166,160):


Mike Flash (Past Chairperson)
  • Compensation: $0
  • Related: $0
  • Other: $0
Chad Courtois (Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kristie Mcmath-Hebert (Vice Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Fran Henderson (Secretary/Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Korey Kimball (Ex. Cmte. Member At Large)
  • Compensation: $0
  • Related: $0
  • Other: $0
Maurice Mo Songy (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0
Robert Cowan (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0
Fran Thibodeaux (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0
Paul Landry (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0
Larry Richard (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0
Carey Laviolette (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ricky Gonsoulin (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0
Freddie Decourt (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0
Craig Romero (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mickey Bellott (Member At Large)
  • Compensation: $0
  • Related: $0
  • Other: $0
Dionne Viator (Member At Large)
  • Compensation: $0
  • Related: $0
  • Other: $0
Denise Broussard (Member At Large)
  • Compensation: $0
  • Related: $0
  • Other: $0
Brett Berard (Member At Large)
  • Compensation: $0
  • Related: $0
  • Other: $0
Carol Bourgeois Jr (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0
Pam Blakely (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0
Brad Clifton (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jimmy Champagne (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0
Tommy Hebert (Member At Large)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michael Tarantino (President/Ceo)
  • Compensation: $149,059
  • Related: $0
  • Other: $17,101
Heath Hulin (Public Seat)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.iberiabiz.org

Where can I find the form 990 for Iberia Industrial Development Foundation?

Iberia Industrial Development Foundation's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.iberiabiz.org

Learn more at the official website: www.iberiabiz.org

Mission Statement of Iberia Industrial Development Foundation

The Iberia Industrial Development Foundation, a notable entity, is dedicated to promoting industrial and economic development within Iberia Parish. Its primary objective is to support existing companies and attract additional industries to establish their operations in the region. This mission is crucial in driving economic growth and creating job opportunities within the parish.

In practice, the foundation provides retail job and business development services. It has facilitated the development and opening of several businesses within Iberia Parish, contributing to the creation of over 45 new jobs. Some of the successful ventures include assisting Mattress Firm in securing a lease for a new shop, aiding Church Alley Cafe and Bistro, and "Bambinos Burgers" in opening new locations, and helping Cane River Pecans expand their downtown New Iberia facility. Furthermore, the foundation has played a role in the development and construction of a new bed and breakfast business in New Iberia, "The Baits Hotel," and a nine-room motor hotel located on Bayou Teche, significantly contributing to the local business landscape.

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Impact




October, 2024

The Iberia Industrial Development Foundation has significantly contributed to the economic landscape of Iberia Parish by promoting industrial and economic development. Its efforts have facilitated the establishment and growth of several businesses, leading to increased job creation and enhanced community vitality.

For instance, the Foundation played a key role in the development of a new outparcel at the "Shops in New Iberia" shopping center, resulting in the successful lease of a space to Mattress Firm. Additionally, it has supported local eateries such as Church Alley Cafe and Bistro and Bambinos Burgers in their expansion efforts, enriching the dining options within the community.

Another noteworthy impact includes assisting Cane River Pecans in expanding their operations in downtown New Iberia, as well as the development of The Baits Hotel, a nine-room motor hotel on Bayou Teche. These undertakings have collectively created over 45 new jobs in the region, contributing to a more robust local economy and fostering a sense of community improvement. Through these initiatives, the Iberia Industrial Development Foundation has effectively positioned Iberia Parish as a desirable location for both existing and new industries, driving sustainable economic growth.




This information is meant to be a general summary of Iberia Industrial Development Foundation. 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.

Revenue
$417,779 (2022)
Expenses
$389,430 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $8
  • Program Service Revenue: $369,185
  • Gross Receipts: $422,943

Assets and Liabilities:

  • Total Assets: $421,218
  • Total Liabilities: $155,913
  • Net Assets: $265,305

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

HOTEL/MOTEL TAX

Revenue

$187,870

SPECIAL PROJECTS - IED

Revenue

$102,000

SPECIAL PROJECTS - IPG

Revenue

$50,250

SPECIAL PROJECTS - LED

Revenue

$17,065

IPTC

Revenue

$12,000

Organization Details

Founding Year

1994

Principal Officer

Michael Tarantino

Main Address

101 BURKE STREET, NEW IBERIA, LA, 70560

NTEE Category

Code: S31 - Community improvement

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