Economic Development Unit Inc
EIN: 720794863 · New Orleans, LA · NTEE: S31Z
| Metric | Value |
|---|---|
| Total Revenue | $348K |
| Total Expenses | $174K |
| Net Assets | $-148,046 |
Is Economic Development Unit Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Economic Development Unit Inc
Economic Development Unit Inc (EIN: 720794863) is a nonprofit organization based in New Orleans, LA, classified under NTEE code S31Z. The organization reported total revenue of $348K and total assets of $228K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Economic Development Unit Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Economic Development Unit Inc is a small nonprofit that has been operating for 42 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -4.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $232K |
| Total Expenses | $174K |
| Surplus / Deficit | +$58K |
| Total Assets | $255K |
| Total Liabilities | $403K |
| Net Assets | $-148,046 |
| Operating Margin | 25.0% |
| Debt-to-Asset Ratio | 158.1% |
| Months of Reserves | 17.6 months |
Financial Health Grade: A
In 2023, Economic Development Unit Inc reported a surplus of $58K with revenue exceeding expenses, holds 17.6 months of operating reserves (strong position), has a debt-to-asset ratio of 158.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Economic Development Unit Inc's revenue has declined at a compound annual growth rate (CAGR) of -4.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.6% | +3.3% | +8.3% |
| 2022 | +33.3% | +5.5% | +9.4% |
| 2021 | +10.5% | -3.4% | -8.0% |
| 2020 | -8.4% | +4.7% | +0.3% |
| 2019 | +1.5% | +5.5% | -11.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1984 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Economic Development Unit Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Economic Development Unit Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $58K, with revenue exceeding expenses.
- Debt-to-asset ratio: 158.1%.
Frequently Asked Questions about Economic Development Unit Inc
Is Economic Development Unit Inc a legitimate charity?
Economic Development Unit Inc (EIN: 720794863) is a registered tax-exempt nonprofit based in Louisiana. It has 13 years of IRS 990 filings on record. Total revenue: $348K. No red flags identified. Financial health grade: A.
How does Economic Development Unit Inc spend its money?
Economic Development Unit Inc reported $348K in total revenue in IRS 990 filings. 13 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Economic Development Unit Inc tax-deductible?
Economic Development Unit Inc is registered as a tax-exempt nonprofit (EIN: 720794863). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Economic Development Unit Inc located?
Economic Development Unit Inc is headquartered in New Orleans, Louisiana and files with the IRS under EIN 720794863. It is classified under NTEE code S31Z.
How many years of IRS 990 filings does Economic Development Unit Inc have?
Economic Development Unit Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $348K in total revenue.
Filing History
IRS 990 filing history for Economic Development Unit Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Economic Development Unit Inc's revenue has declined by 41.5%, moving from $397K to $232K. Total assets decreased by 14.9% over the same period, from $299K to $255K. Total functional expenses fell by 82.6%, from $1.0M to $174K. In its most recent filing year (2023), Economic Development Unit Inc reported a surplus of $58K, with revenue exceeding expenses. The organization holds $403K in liabilities against $255K in assets (debt-to-asset ratio: 158.1%), resulting in net assets of $-148,046.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $232K | $174K | $255K | $403K | — | View 990 |
| 2022 | $216K | $168K | $235K | $441K | — | View 990 |
| 2021 | $162K | $160K | $215K | $468K | — | View 990 |
| 2020 | $146K | $165K | $234K | $516K | — | View 990 |
| 2019 | $160K | $158K | $233K | $496K | — | View 990 |
| 2018 | $157K | $150K | $263K | $528K | — | View 990 |
| 2017 | $189K | $129K | $334K | $607K | — | View 990 |
| 2016 | $138K | $111K | $238K | $455K | — | View 990 |
| 2015 | $125K | $111K | $222K | $466K | — | View 990 |
| 2014 | $81K | $104K | $222K | $480K | — | View 990 |
| 2013 | $70K | $98K | $263K | $497K | — | View 990 |
| 2012 | $263K | $215K | $288K | $494K | — | View 990 |
| 2011 | $397K | $1.0M | $299K | $553K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $232K, expenses of $174K, and assets of $255K (revenue +7.6% year-over-year).
- 2022: Revenue of $216K, expenses of $168K, and assets of $235K (revenue +33.3% year-over-year).
- 2021: Revenue of $162K, expenses of $160K, and assets of $215K (revenue +10.5% year-over-year).
- 2020: Revenue of $146K, expenses of $165K, and assets of $234K (revenue -8.4% year-over-year).
- 2019: Revenue of $160K, expenses of $158K, and assets of $233K (revenue +1.5% year-over-year).
- 2018: Revenue of $157K, expenses of $150K, and assets of $263K (revenue -16.7% year-over-year).
- 2017: Revenue of $189K, expenses of $129K, and assets of $334K (revenue +36.9% year-over-year).
- 2016: Revenue of $138K, expenses of $111K, and assets of $238K (revenue +10.5% year-over-year).
- 2015: Revenue of $125K, expenses of $111K, and assets of $222K (revenue +54.6% year-over-year).
- 2014: Revenue of $81K, expenses of $104K, and assets of $222K (revenue +15.7% year-over-year).
- 2013: Revenue of $70K, expenses of $98K, and assets of $263K (revenue -73.5% year-over-year).
- 2012: Revenue of $263K, expenses of $215K, and assets of $288K (revenue -33.8% year-over-year).
- 2011: Revenue of $397K, expenses of $1.0M, and assets of $299K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Economic Development Unit Inc:
Data Sources and Methodology
This transparency report for Economic Development Unit Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.