New Orleans Startup Fund Inc

Organization Overview

New Orleans Startup Fund Inc is located in New Orleans, LA. The organization was established in 2010. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Orleans Startup Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, New Orleans Startup Fund Inc generated $682.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (17.8%) each year. All expenses for the organization totaled $251.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (27.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE NEW ORLEANS STARTUP FUND INC. IS A SEED CAPITAL FUND ESTABLISHED BY GREATER NEW ORLEANS BUSINESSES AND FINANCIAL LEADERS TO ACCELERATE THE GROWTH OF EARLY-STAGE, INNOVATIVE BUSINESSES INTO VENTURE-READY COMPANIES. THE STARTUP FUND'S MISSION IS TO CREATE JOBS AND ECONOMIC PROSPERITY FOR THE TEN PARISH REGION OF GREATER N.O. BY PROVIDING SEED CAPITAL AND BUSINESS ASSISTANCE TO EARLY-STAGE FIRMS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

CONDUCTED MARKET RESEARCH AND BUSINESS SUPPORT TO EARLY STAGE COMPANIES DEMONSTRATING THE POTENTIAL FOR JOB CREATION AND POSITIVE ECONOMIC DEVELOPMENT ON THE GREATER NEW ORLEANS AREA.


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Board, Officers & Key Employees

Name (title)Compensation
James Roussel
President & CEO
$150,000
Matt Wisdom
Director (chairman)
$0
Ben Allen
Director (vice-Chairman)
$0
George Wilson
Director
$0
Michael Hecht
Director
$0
Leslie Jacobs
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Fountainebleau Florida Hotel Llc
N/a
$239,851
Phidereka Foust
N/a
$177,000
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$330,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$330,000
Total Program Service Revenue$0
Investment income $352,641
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $682,641

Grants Recieved

Over the last fiscal year, we have identified 2 grants that New Orleans Startup Fund Inc has recieved totaling $235,000.

Awarding OrganizationAmount
The Greater New Orleans Foundation

New Orleans, LA

PURPOSE: FUND RAISING & FUND DISTRIBUTION

$185,000
Schwab Charitable Fund

San Francisco, CA

PURPOSE: PUBLIC, SOCIETAL BENEFIT

$50,000
View Grant Recipient Profile

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