Economic Development Unit Inc

Nonprofit profile at a glance

EIN
720794863
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
New Orleans, LA, USA
Phone
5047225354
Rating
49
Verdict
MIXED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Reported finances

Revenue
$223,743
Expenses
$185,327
Assets
$255,263
Liabilities
$371,090

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • Mr James H Raby (President)
  • Mr Charles L Rice (Vice President)

Highest reported compensation

  • Ms Cheryl Phoenix (Secretary): $145,840 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provides rental facility for a non-profit organization and assists in providing technical assistance in economic development goals.

What it reported doing in 2025

Provide rental facility for a non-profit organization and assist in providing technical assistance in economic development goals.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 47
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 17.2%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 1.38; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 1.45; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 78.7%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.6% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $146K · 6 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.