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Labi Foundation FY2021 filing

Tax-deductible

Baton Rouge, LA501(c)(3)EmploymentEIN 46-4858854Revenue $222K in FY2021

On file with the IRS500 Main St, 70801-1908 · Baton Rouge, LATax-exempt since Jun 2016Publicly supported charity — 170(b)(1)(A)(vi)

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To partner with business leaders to educate and help deliver successful strategies to maximize Louisiana's economic potential by offering educational materials and programs on areas of importance in Louisiana.

501(c)(3) charity; gifts are tax-deductible.
55¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $3K a year · under 1% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
55%
of spending
Worth a look: 55% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
24 mo
of spending, in cash
Looks good: 23.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $15K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$222K
-68% vs prior year
Spent
$71K
To programs
55%
Net assets
$153K
By yearFY2020–FY2024
Revenue
$222K
FY2021▼ -68%
Tap a bar for its year
Revenue by fiscal year
FY2020$693K
FY2021$222K
FY2022$384K
FY2023$475K
FY2024$160K
Expenses
$71K
FY2021▼ -90%
Tap a bar for its year
Expenses by fiscal year
FY2020$746K
FY2021$71K
FY2022$461K
FY2023$505K
FY2024$166K
Net assets
$153K
FY2021▲ ×87
Tap a bar for its year
Net assets by fiscal year
FY2020$2K
FY2021$153K
FY2022$76K
FY2023$47K
FY2024$40K

From the FY2021 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2016.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

55 cents of each dollar spent went to programs.

Program services 55% · $39K Management & general 45% · $32K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Maura Donahue
President
$0Pt VII · Sec A
Reldon Owens
Vice President
$0Pt VII · Sec A
Clay Allen
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Labi Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates business leaders on strategies to boost Louisiana's economic potential.

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Provided by the organization

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1 program · $39K · in their own filed words · FY2021
01

To aid in the renovation of a facility that will allow LABI Foundation to host numerous education events open to businesses and the public.

$39Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Community Foundation of Southwest LouisianaFY2024$10K
Union Pacific FoundationFY2024$5K
Total grants receivedfrom 2 funders$15K
Grants paid · 5 grants · $1.4M · 2020–2023
Louisiana Association of Business and IndustryLA · FY2023$300,000
Louisiana Association of Business and IndustryLA · FY2022$275,000
The Coalition to Restore Coastal LouisianaLA · FY2022$50,000
Louisiana Association of Business and IndustryLA · FY2021$39,000
Louisiana Association of Business and IndustryLA · FY2020$700,000

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$222K
Ln 12
Gifts and grantsLn 1h$144K
Fees for servicesLn 2g$79K
Money outPt IX
$71K
Ln 25
Programscol B$39K
Managementcol C$32K
Owns and owesPt X
$153K
net assets · Ln 32
Cash and savingsLn 1–2$140K
Total assetsLn 16$153K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$144K
Fees for servicesLn 2g$79K
Total revenueLn 12$222K
Assets in detailPt X, end of year
CashLn 1$140K
Cash and savings togetherLn 1–2$140K
Total assetsLn 16$153K
LiabilitiesLn 26$0
Net assetsLn 32$153K
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$2K$140K
Total assetsLn 16$2K$153K
LiabilitiesLn 26$0$0
Net assetsLn 32$2K$153K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$39K$39K
Accounting feesLn 11c$825$825
Other fees for servicesLn 11g$30K$30K
Conferences, conventions and meetingsLn 19$833$833
Other expenses (24a–d)Ln 24$544$544
Total functional expensesLn 25$71K$39K$32K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $160K$166K−$7K$40K 990 PDF
FY2023 $475K$505K−$30K$47K 990 PDF
FY2022 $384K$461K−$77K$76K 990 PDF
FY2021 Viewing $222K$71K$151K$153K 990 PDF
FY2020 $693K$746K−$53K$2K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $222,409 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $693,092$143,655
I-9 Program service revenuePrior year $0$78,754
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $693,092$222,409
I-13 Grants and similar amounts paidPrior year $700,000$39,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $46,256$32,202
I-18 Total expensesPrior year $746,256$71,202
I-19 Revenue less expensesPrior year −$53,164$151,207
Part VI · Governance 4 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $222,409 across 4 lines filed
VIII-1f All other contributions, gifts and grants$143,655
VIII-1h Total contributions, gifts and grants$143,655
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $78,754$78,754
VIII-12 Total revenueRelated to mission $78,754 · Unrelated business $0 · Excluded from tax $0$222,409
Part IX · Statement of functional expenses $71,202 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $39,000$39,000
IX-11c Accounting feesManagement $825$825
IX-11g Other fees for servicesManagement $30,000$30,000
IX-19 Conferences, conventions and meetingsManagement $833$833
IX-24 Other expenses (24a–d)Management $544$544
IX-25 Total functional expensesPrograms $39,000 · Management $32,202 · Fundraising $0$71,202
Part X · Balance sheet $152,967 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $1,760$140,038
X-4 Accounts receivable$12,929
X-16 Total assetsStart of year $1,760$152,967
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,760$152,967
X-32 Total net assets or fund balancesStart of year $1,760$152,967
X-33 Total liabilities and net assetsStart of year $1,760$152,967
Part XI · Reconciliation of net assets $152,967 net assets at year end
XI-1 Total revenue$222,409
XI-2 Total expenses$71,202
XI-3 Revenue less expenses$151,207
XI-4 Net assets at start of year$1,760
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$152,967

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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