GREATER NEW ORLEANS DEVELOPMENT FOUNDATION

EIN: 721177207 501(c)(3) Community Improvement

NEW ORLEANS, LA

Total Revenue
$5,465,248
Total Expenses
$5,403,500
Total Assets
$3,571,319
Net Assets
$2,139,790
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1913
Legal Domicile
LA
Principal Officer
MICHAEL HECHT
Phone
5045276900
Tax Period
2023-01-01 to 2023-12-31

GREATER NEW ORLEANS DEVELOPMENT FOUNDATION, founded in 1913, is a community nonprofit in the Community Improvement sector that reported $5.5M in total revenue in fiscal year 2023. Revenue surged 93% from the prior year, signaling strong growth momentum.

Mission

TO FOSTER REGIONAL ECONOMIC DEVELOPMENT AND CREATE QUALITY JOBS WITHIN THE METROPOLITAN NEW ORLEANS AREA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,085,050
Program Service Revenue $245,521
Investment Income $134,677
Other Revenue $0
TOTAL REVENUE $5,465,248

Expense Breakdown

Grants Paid $1,767,486
Salaries & Benefits $1,266,078
Fundraising Expenses $0
Program Expenses $4,928,174
Other Expenses $2,369,936
TOTAL EXPENSES $5,403,500

Year-over-Year Comparison

2023 2022 Change
Revenue $5,465,248 $2,831,617 +0.9%
Expenses $5,403,500 $3,117,822 +0.7%
Net Income $61,748 $-286,205 -1.2%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
9
Independent Members
8
Employees
14
Volunteers
20

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$819,842
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD CORTIZAS BOARD CHAIR 1.00
Officer Director
$0 $0 $0
SUSAN BONNETT BOURGEOIS BOARD CHAIR-ELECT 1.00
Officer Director
$0 $0 $0
JULIE STOKES SECRETARY & TREASURER 1.00
Officer Director
$0 $0 $0
DALE BENOIT MEMBER 1.00
Director
$0 $0 $0
WAYNE CONNER MEMBER 1.00
Director
$0 $0 $0
TARA HERNANDEZ MEMBER 1.00
Director
$0 $0 $0
MARINA MANZANARES MEMBER 1.00
Director
$0 $0 $0
GUY WILLIAMS MEMBER 1.00
Director
$0 $0 $0
MICHAEL HECHT PRESIDENT & CEO 40.00
Officer
$0 $41,648 $819,842
JOSHUA TATUM VICE PRESIDENT OF BUSINESS GROWTH & RETENTION 40.00
Highest
$121,427 $12,143 $133,570
LACY MCMANUS EXECUTIVE DIRECTOR OF FUTURE ENERGY 40.00
Highest
$182,137 $25,489 $207,626
HARRISON CRABTREE DIRECTOR, WORLD TRADE CENTER OF NEW ORLEANS 40.00
Highest
$103,879 $9,038 $112,917
BRANDON WILLIAMS DIRECTOR OF FINANCE AND ADMINISTRATION 40.00
Highest
$102,696 $10,701 $113,397
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $5,465,248 $5,403,500 $3,571,319 $61,748
2022 $2,831,617 $3,117,822 $2,647,279 $-286,205
2021 $2,426,633 $2,295,583 $2,887,646 $131,050
2020 $2,122,126 $1,825,970 $2,735,632 $296,156
2019 $1,772,098 $1,821,508 $2,412,036 $-49,410
2018 $1,705,321 $1,414,232 $2,302,814 $291,089
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