Overview
What is Greater New Orleans Development Foundation?
The Greater New Orleans Development Foundation, situated in New Orleans, Louisiana, serves as a catalyst for economic growth and enhances the quality of life in Southeastern Louisiana's ten parishes. Acting as a vital partner in regional economic development, the foundation aims to generate new employment opportunities through various job initiatives. Additionally, it prioritizes improving the quality and quantity of employment by focusing on workforce development. The organization also champions economic planning and development through public awareness and communications, aiming to create high-quality jobs within the metropolitan New Orleans area. With a modest workforce of 12 individuals, the Greater New Orleans Development Foundation is committed to boosting the local economy.
Official website here: www.gnoinc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 97% - Four-Star out of Four Star rating
The Greater New Orleans Development Foundation has achieved an impressive 97% rating from Charity Navigator, reflecting exceptional accountability and finance practices. This high score indicates a strong commitment to transparency and responsible financial management, making the organization a reliable choice for donors looking to support impactful initiatives.
Strengths of the organization include an entirely independent board, with 92% of its members being independent, and a robust financial oversight structure. The foundation's financial statements are audited, and it has no reported material diversions of assets. Additionally, the organization maintains a high program expense ratio of 84.85%, ensuring that a significant portion of donations directly supports their mission.
While the organization showcases strong financial health and governance, potential donors may want to consider the working capital ratio, which stands at 0.86 years. This figure suggests a need for ongoing monitoring to ensure the foundation can effectively meet its short-term obligations. Overall, the Greater New Orleans Development Foundation demonstrates commendable practices that contribute positively to its community.
This AI summary has been generated from information found on Charity Navigator.
Is Greater New Orleans Development Foundation legitimate?
Greater New Orleans Development Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater New Orleans 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $669,312
For more financial information, click here
Official website here: www.gnoinc.org
What is the mission statement of Greater New Orleans Development Foundation?
The Greater New Orleans Development Foundation's mission is centered around fostering economic development within the metropolitan New Orleans area. Their primary objective is to create high-quality job opportunities. As a catalyst for growth, the foundation works towards enhancing the quality of life in the region by collaborating with development allies. They achieve this through various initiatives, such as providing a base for new employment, improving the quality and quantity of existing jobs, and promoting economic planning and development through public awareness and communications. In essence, the foundation is dedicated to boosting the local economy and creating sustainable job opportunities for the community.
Official website here: www.gnoinc.org
Who is the CEO of Greater New Orleans Development Foundation?
Michael Hecht is the Member of Greater New Orleans Development Foundation. The CEO's salary of Greater New Orleans Development Foundation is $0 and their total compensation is $768,087.
Official website here: www.gnoinc.org
What is the revenue of Greater New Orleans Development Foundation?
Greater New Orleans Development Foundation's revenue in 2022 was $2,831,617.
Official website here: www.gnoinc.org
Who are the executives of Greater New Orleans Development Foundation and what are their salaries?
The average compensation at Greater New Orleans Development Foundation during 2022 was $55,776. There are 12 employees and 14 volunteers at Greater New Orleans Development Foundation.
Here are 15 key members and their salaries (Greater New Orleans Development Foundation's CEO's salary is $0 and their total compensation is $768,087):
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- Related: $729,118
- Other: $38,969
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- Related: $102,183
- Other: $10,473
Official website here: www.gnoinc.org
Where can I find the form 990 for Greater New Orleans Development Foundation?
Greater New Orleans Development Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.gnoinc.org
Learn more at the official website: www.gnoinc.org
Mission Statement of Greater New Orleans Development Foundation
Greater New Orleans Development Foundation, a catalyst for economic growth, is dedicated to fostering regional economic development within the metropolitan New Orleans area. Their mission is geared towards the creation of quality jobs, aiming to provide a sufficient base of employment opportunities for the community. The foundation accomplishes this through various initiatives. They collaborate with development allies to develop job initiatives, aiming to improve the quantity and quality of employment within the region. Additionally, the foundation focuses on workforce development, offering programs and resources to enhance the skills and abilities of the local workforce. Furthermore, Greater New Orleans Development Foundation engages in economic planning and development, raising public awareness and fostering communication to drive economic progress within the ten parishes of southeast Louisiana.
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Impact
July, 2024
The Greater New Orleans Development Foundation plays a vital role in fostering regional economic development and creating quality jobs within the metropolitan New Orleans area. Acting as a catalyst for economic growth and the enhancement of quality of life in the ten parishes of Southeast Louisiana, the foundation collaborates with development allies to provide an adequate base of new employment through job initiatives. Additionally, it works to improve the quality and quantity of employment through workforce development and fosters economic planning and development through public awareness and communications. This organization's efforts contribute significantly to community improvement and economic prosperity in the region.
This information is meant to be a general summary of Greater New Orleans 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$160,348
- Program Service Revenue: $184,092
- Gross Receipts: $2,994,461
Assets and Liabilities:
- Total Assets: $2,647,279
- Total Liabilities: $569,237
- Net Assets: $2,078,042
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$117,671
SPONSORSHIP
Revenue
$51,261
WORKFORCE SUMMIT
Revenue
$15,160
Organization Details
Founding Year
1913
Phone
(504) 527-6900Principal Officer
Michael Hecht
Main Address
1100 POYDRAS STREET 3475, NEW ORLEANS, LA, 70163
Website
www.gnoinc.orgNTEE Category
Code: S300 - Community improvement
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