Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1985.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
82 cents of each dollar spent went to programs.
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
10 people listed on the 990; $133K paid to officers and key staff.
Compensation history total reportable pay by year · 3 named individuals · Part VII
| Name | FY2024 | FY2022 |
|---|---|---|
| Vic Lafont | $110,149 | — |
| Christy Naquin | $23,077 | — |
| Dr Ken Rachal | — | $13,950 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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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 15aYes
Programs and updates
Colab Foundation INC is a nonprofit based in Thibodaux, LA.
Questions for Colab Foundation INC
Your first name shows with your question. Colab Foundation INC answers here, for everyone.
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Promotion of economic development by encouraging area industries to expand and entice industry from out-of-area to locate in south louisiana, technical training for existing and new businesses, and promotion of louisiana businesses in media.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $60K | $121K |
| Land, buildings, equipmentLn 10c | $64K | $52K |
| Total assetsLn 16 | $512K | $611K |
| LiabilitiesLn 26 | $83K | $166K |
| Net assetsLn 32 | $428K | $445K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $28K | $28K | ||
| Other salaries and wagesLn 7 | $394K | $284K | $109K | |
| Pension plan contributionsLn 8 | −$150 | −$150 | ||
| Payroll taxesLn 10 | $31K | $22K | $8K | |
| Other fees for servicesLn 11g | $420K | $382K | $38K | |
| Office expensesLn 13 | $12K | $985 | $11K | |
| TravelLn 17 | $54K | $54K | ||
| Conferences, conventions and meetingsLn 19 | $63K | $63K | ||
| Depreciation, depletion and amortizationLn 22 | $14K | $14K | ||
| InsuranceLn 23 | $66K | $33K | $33K | |
| Other expenses (24a–d)Ln 24 | $95K | $85K | $10K | |
| All other expensesLn 24e | $4K | $2K | $2K | |
| Total functional expensesLn 25 | $1.2M | $968K | $212K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $1.2M | $1.2M | $17K | $445K | 990 PDF |
| FY2023 | $1.2M | $1.1M | $117K | $428K | 990 PDF |
| FY2022 | $877K | $786K | $92K | $278K | 990 PDF |
| FY2021 | $631K | $584K | $47K | $186K | 990 PDF |
| FY2020 | $477K | $560K | −$83K | $100K | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $1,196,723 revenue, 12 lines filed
Part VI · Governance 9 of 9 board members independent, 1 to look at
Part VIII · Statement of revenue $1,196,723 across 6 lines filed
Part IX · Statement of functional expenses $1,179,875 across 12 lines filed
Part X · Balance sheet $611,081 assets, 13 lines filed
Part XI · Reconciliation of net assets $445,297 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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