Philmat Inc
- Assets
- $3.3m
- Revenue
- $4.8m
- Investments
- $0.0
- Employees
- 68
- Location
- New Orleans, LA
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 72-0787616
Organization Overview
Philmat Inc is located in New Orleans, LA. The organization was established in 1946. As of 06/2022, Philmat Inc employed 68 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Philmat 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 06/2022, Philmat Inc generated $4.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $5.1m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACT AS A LOCAL AGENT FOR THE COMMODITY SUPPLEMENTAL FOOD AND WAREHOUSE PROGRAM, FOOD FOR SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD FOR FAMILIES/FOOD FOR SENIORS PROGRAM PROVIDED NUTRITIONAL BOXES TO APPROXIMATELY 56,000 SENIORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheryl D Laborde Director/treasurer | OfficerTrustee | 1 | $0 |
Sister Marjorie Hebert Msc President & CEO | OfficerTrustee | 1 | $0 |
Deacon Martin Gutierrez Director/secretary | OfficerTrustee | 1 | $0 |
Michelle Higgins Executive Director (thru 05/2022) | Officer | 40 | $40,543 |
Renee Davenport Executive Director | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,226,462 |
| All other contributions, gifts, grants, and similar amounts not included above | $473,344 |
| Noncash contributions included in lines 1a–1f | $17,389 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,699,806 |
| Total Program Service Revenue | $0 |
| Investment income | $67,334 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $935 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,783,804 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $17,389 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $100,178 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,865,463 |
| Pension plan accruals and contributions | $51,300 |
| Other employee benefits | $348,555 |
| Payroll taxes | $145,294 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,299 |
| Fees for services: Accounting | $10,259 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,882 |
| Fees for services: Other | $382,120 |
| Advertising and promotion | $0 |
| Office expenses | $38,321 |
| Information technology | $23,127 |
| Royalties | $0 |
| Occupancy | $611,068 |
| Travel | $634,587 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $283,772 |
| Insurance | $189,183 |
| All other expenses | $0 |
| Total functional expenses | $5,054,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $423,438 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,861 |
| Net Land, buildings, and equipment | $2,125,498 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $729,370 |
| Total assets | $3,302,467 |
| Accounts payable and accrued expenses | $195,999 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,948 |
| Total liabilities | $211,947 |
| Net assets without donor restrictions | $2,983,071 |
| Net assets with donor restrictions | $107,449 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,302,467 |