Friends Of Lafitte Corridor Inc
Friends Of Lafitte Corridor Inc shows consistent revenue growth and strong asset accumulation with no reported officer compensation.
EIN: 205295500 · New Orleans, LA · NTEE: S01 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $398K |
| Total Expenses | $519K |
| Program Spending | 90% |
| Net Assets | $358K |
| Transparency Score | 92/100 |
Is Friends Of Lafitte Corridor Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Friends Of Lafitte Corridor Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Friends Of Lafitte Corridor Inc
Friends Of Lafitte Corridor Inc (EIN: 205295500) is a nonprofit organization based in New Orleans, LA, classified under NTEE code S01. The organization reported total revenue of $398K and total assets of $323K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of Lafitte Corridor Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of Lafitte Corridor Inc is a small nonprofit that has been operating for 18 years, with 9 years of IRS 990 filings on record (2015–2023). Revenue has grown at a compound annual rate of 14.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $523K |
| Total Expenses | $519K |
| Surplus / Deficit | +$4K |
| Total Assets | $438K |
| Total Liabilities | $80K |
| Net Assets | $358K |
| Operating Margin | 0.8% |
| Debt-to-Asset Ratio | 18.3% |
| Months of Reserves | 10.1 months |
Financial Health Grade: A
In 2023, Friends Of Lafitte Corridor Inc reported a surplus of $4K with revenue exceeding expenses, holds 10.1 months of operating reserves (strong position), has a debt-to-asset ratio of 18.3% (very low leverage).
Financial Trends
Over 9 years of filings (2015–2023), Friends Of Lafitte Corridor Inc's revenue has grown at a compound annual growth rate (CAGR) of 14.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +20.5% | +20.0% | +0.8% |
| 2022 | +8.4% | +63.4% | -9.5% |
| 2021 | +49.7% | -1.8% | +29.8% |
| 2020 | -0.5% | +7.9% | +69.1% |
| 2019 | +36.6% | +26.6% | +9.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Friends Of Lafitte Corridor Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Friends Of Lafitte Corridor Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $4K, with revenue exceeding expenses.
- Debt-to-asset ratio: 18.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's officers are not drawing salaries, which is highly commendable and suggests a volunteer-led or very lean executive structure.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Friends Of Lafitte Corridor Inc:
- Consistent revenue growth, increasing from $174,032 in 2015 to $522,753 in 2023.
- Significant asset accumulation, growing from $136,717 in 2015 to $438,492 in 2023.
- Zero reported officer compensation across all nine filings, indicating high efficiency and dedication to mission.
- Consistent filing of IRS Form 990s, demonstrating strong transparency.
- Expenses closely track revenue in recent years (e.g., $518,639 expenses vs. $522,753 revenue in 2023), suggesting effective financial management.
Frequently Asked Questions about Friends Of Lafitte Corridor Inc
Is Friends Of Lafitte Corridor Inc a legitimate charity?
Friends Of Lafitte Corridor Inc (EIN: 205295500) is a registered tax-exempt nonprofit based in Louisiana. Our AI analysis gives it a Mission Score of 92/100. It has 9 years of IRS 990 filings on record. Total revenue: $398K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Friends Of Lafitte Corridor Inc spend its money?
Friends Of Lafitte Corridor Inc directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Friends Of Lafitte Corridor Inc tax-deductible?
Friends Of Lafitte Corridor Inc is registered as a tax-exempt nonprofit (EIN: 205295500). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Friends Of Lafitte Corridor Inc's spending goes to programs?
Friends Of Lafitte Corridor Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Friends Of Lafitte Corridor Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Friends Of Lafitte Corridor Inc is above average for NTEE category S01 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Friends Of Lafitte Corridor Inc located?
Friends Of Lafitte Corridor Inc is headquartered in New Orleans, Louisiana and files with the IRS under EIN 205295500. It is classified under NTEE code S01.
How many years of IRS 990 filings does Friends Of Lafitte Corridor Inc have?
Friends Of Lafitte Corridor Inc has 9 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 $398K in total revenue.
Is Friends Of Lafitte Corridor Inc a good charity?
Based on the provided financial data, Friends Of Lafitte Corridor Inc appears to be a very good charity. They demonstrate consistent revenue growth, healthy asset accumulation, and a strong commitment to their mission by reporting zero officer compensation across all filings, suggesting funds are primarily directed to programs.
How has the organization's financial health changed over time?
The organization's financial health has significantly improved over time. Revenue has grown from $174,032 in 2015 to $522,753 in 2023, and assets have increased from $136,717 to $438,492 in the same period, indicating robust growth and stability.
What is the organization's approach to executive compensation?
Friends Of Lafitte Corridor Inc has a highly commendable approach to executive compensation, reporting 0% officer compensation in all nine filings. This indicates that executive leadership is either entirely volunteer-based or compensated through other means not reported as officer compensation, allowing more funds to be allocated to their mission.
Filing History
IRS 990 filing history for Friends Of Lafitte Corridor Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2015–2023), Friends Of Lafitte Corridor Inc's revenue has grown by 200.4%, moving from $174K to $523K. Total assets increased by 220.7% over the same period, from $137K to $438K. Total functional expenses rose by 393.9%, from $105K to $519K. In its most recent filing year (2023), Friends Of Lafitte Corridor Inc reported a surplus of $4K, with revenue exceeding expenses. The organization holds $80K in liabilities against $438K in assets (debt-to-asset ratio: 18.3%), resulting in net assets of $358K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $523K | $519K | $438K | $80K | — | — |
| 2022 | $434K | $432K | $435K | $80K | — | — |
| 2021 | $400K | $264K | $481K | $128K | — | View 990 |
| 2020 | $267K | $269K | $371K | $153K | — | — |
| 2019 | $269K | $249K | $219K | $0 | — | View 990 |
| 2018 | $197K | $197K | $200K | $0 | — | View 990 |
| 2017 | $212K | $153K | $201K | $300 | — | View 990 |
| 2016 | $150K | $146K | $140K | $0 | — | View 990 |
| 2015 | $174K | $105K | $137K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $523K, expenses of $519K, and assets of $438K (revenue +20.5% year-over-year).
- 2022: Revenue of $434K, expenses of $432K, and assets of $435K (revenue +8.4% year-over-year).
- 2021: Revenue of $400K, expenses of $264K, and assets of $481K (revenue +49.7% year-over-year).
- 2020: Revenue of $267K, expenses of $269K, and assets of $371K (revenue -0.5% year-over-year).
- 2019: Revenue of $269K, expenses of $249K, and assets of $219K (revenue +36.6% year-over-year).
- 2018: Revenue of $197K, expenses of $197K, and assets of $200K (revenue -7.4% year-over-year).
- 2017: Revenue of $212K, expenses of $153K, and assets of $201K (revenue +41.5% year-over-year).
- 2016: Revenue of $150K, expenses of $146K, and assets of $140K (revenue -13.8% year-over-year).
- 2015: Revenue of $174K, expenses of $105K, and assets of $137K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of Lafitte Corridor Inc:
Data Sources and Methodology
This transparency report for Friends Of Lafitte Corridor 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.