Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2011.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
91 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
16 people listed on the 990; $72K paid to officers and key staff (Part VII, Section A).
Kelsey Foster’s $72K as Former Executive Director is at the 49th percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Kelsey Foster | $72,042 | $74,000 | $71,000 | $89,250 | $83,250 |
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.
See Algiers Economic Development Foundation INC executive salaries →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
Promotes business growth and jobs in Westbank New Orleans through advocacy and development.
Questions for Algiers Economic Development Foundation INC
Your first name shows with your question. Algiers Economic Development Foundation INC answers here, for everyone.
To help the Algiers community grow and prosper by being a catalyst for economic development.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 72-1275640) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $11K | $7K |
| Land, buildings, equipmentLn 10c | $5K | $4K |
| Total assetsLn 16 | $101K | $140K |
| LiabilitiesLn 26 | $4K | $32K |
| Net assetsLn 32 | $98K | $108K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $72K | $66K | $6K | $0 |
| Other salaries and wagesLn 7 | $103K | $94K | $9K | $0 |
| Payroll taxesLn 10 | $14K | $13K | $1K | $0 |
| Accounting feesLn 11c | $17K | $17K | $0 | $0 |
| Advertising and promotionLn 12 | $1K | $1K | $8 | $0 |
| Office expensesLn 13 | $4K | $4K | $597 | $0 |
| Information technologyLn 14 | $4K | $3K | $978 | $0 |
| OccupancyLn 16 | $9K | $9K | $0 | $0 |
| Conferences, conventions and meetingsLn 19 | $2K | $2K | $173 | $0 |
| Depreciation, depletion and amortizationLn 22 | $348 | $0 | $348 | $0 |
| InsuranceLn 23 | $6K | $0 | $6K | $0 |
| Other expenses (24a–d)Ln 24 | $52K | $51K | $2K | $0 |
| All other expensesLn 24e | $24K | $21K | $3K | $0 |
| Total functional expensesLn 25 | $308K | $280K | $29K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest ViewingFiled with the IRS Nov 14, 2025 | $319K | $308K | $11K | $108K | 990 PDF |
| FY2024Filed with the IRS May 8, 2025 | $256K | $245K | $11K | $98K | 990 PDF |
| FY2023Filed with the IRS Feb 18, 2024 | $277K | $374K | −$97K | $87K | 990 PDF |
| FY2022Filed with the IRS Nov 14, 2022 | $295K | $255K | $41K | $184K | 990 PDF |
| FY2021Filed with the IRS Feb 2, 2022 | $335K | $229K | $105K | $143K | 990 PDF |
Schedules filed Part IV
See the full FY2025 990
Part I · Summary $318,937 revenue, 12 lines filed
Part VI · Governance 15 of 15 board members independent, 3 to look at
Part VIII · Statement of revenue $318,937 across 7 lines filed
Part IX · Statement of functional expenses $308,416 across 13 lines filed
Part X · Balance sheet $139,762 assets, 12 lines filed
Part XI · Reconciliation of net assets $108,064 net assets at year end
Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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